<SEC-DOCUMENT>0000909724-15-000016.txt : 20150512
<SEC-HEADER>0000909724-15-000016.hdr.sgml : 20150512
<ACCEPTANCE-DATETIME>20150512101513
ACCESSION NUMBER:		0000909724-15-000016
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20150512
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150512
DATE AS OF CHANGE:		20150512

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TANDY LEATHER FACTORY INC
		CENTRAL INDEX KEY:			0000909724
		STANDARD INDUSTRIAL CLASSIFICATION:	LEATHER & LEATHER PRODUCTS [3100]
		IRS NUMBER:				752543540
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0610

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12368
		FILM NUMBER:		15853091

	BUSINESS ADDRESS:	
		STREET 1:		3847 EAST LOOP
		STREET 2:		820 SOUTH
		CITY:			FT WORTH
		STATE:			TX
		ZIP:			76119
		BUSINESS PHONE:		8174964414

	MAIL ADDRESS:	
		STREET 1:		3847 EAST LOOP
		STREET 2:		820 SOUTH
		CITY:			FT WORTH
		STATE:			TX
		ZIP:			76119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEATHER FACTORY INC
		DATE OF NAME CHANGE:	19930723
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8-k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html>
<head>
    <title>form8-k.htm</title>
    <!--Licensed to: TANDY LEATHER FACTORY-->
    <!--Document Created using EDGARizer 2020 5.4.6.0-->
    <!--Copyright 1995 - 2014 Thomson Reuters. All rights reserved.-->
</head>
<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<br>
<br>
<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">UNITED STATES</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">WASHINGTON, D.C.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Form 8-K</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CURRENT REPORT PURSUANT</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TO SECTION 13 OR 15(d) OF THE</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SECURITIES EXCHANGE ACT OF 1934</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="40%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Date of report (Date of earliest event reported:)</font></div>
</td>
<td valign="top" width="40%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline">May 12, 2015</font></font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><img src="talefalogo_rgbhalf.jpg" alt=""></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="80%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline">Tandy Leather Factory, Inc.</font></font></div>
</td>
</tr><tr>
<td valign="top" width="80%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(Exact Name of Registrant as Specified in Its Charter)</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="80%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Delaware</font></div>
</td>
</tr><tr>
<td valign="top" width="80%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(State or Other Jurisdiction of Incorporation</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="38%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1-12368</font></div>
</td>
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="38%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">75-2543540</font></div>
</td>
</tr><tr>
<td valign="top" width="38%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(Commission File Number)</font></div>
</td>
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="38%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(IRS Employer Identification Number)</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font><br>
&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="38%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1900 Southeast Loop 820, Fort Worth, Texas</font></div>
</td>
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="38%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">76140</font></div>
</td>
</tr><tr>
<td valign="top" width="38%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(Address of Principal Executive Offices)</font></div>
</td>
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="38%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(Zip Code)</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="80%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(817) 872-3200</font></div>
</td>
</tr><tr>
<td valign="top" width="80%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(Registrant&#8217;s Telephone Number, Including Area Code)</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="80%" style="BORDER-BOTTOM: black 2px solid"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td valign="top" width="80%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(Former Name or Former Address, if Changed Since Last Report)</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<br>
<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 2.02.&#160;&#160;Results of Operations and Financial Condition</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;Tandy Leather Factory, Inc. on May 12, 2015 issued a press release regarding its financial results for the three months ended March 31, 2015.&#160;&#160;A copy of the press release is attached as Exhibit 99.1.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;The information in this report and the exhibit attached hereto shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing with the Securities and Exchange Commission under the Securities Exchange Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 9.01.&#160;&#160;Financial Statements and Exhibits</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td align="right" style="WIDTH: 45pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Financial statements of businesses acquired.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 45pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Not applicable.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td align="right" style="WIDTH: 45pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pro forma financial information.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 45pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Not applicable.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
<td align="right" style="WIDTH: 45pt">
<div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(c)&#160;&#160;</font></div>
</td>
<td>
<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Exhibits.</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">No.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit</font></font></div>

<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press release dated May 12, 2015</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURES</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>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></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="top" width="31%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="49%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TANDY LEATHER FACTORY, INC.</font></div>
</td>
</tr><tr>
<td valign="top" width="31%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="49%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr>
<td align="left" valign="top" width="31%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Date:&#160;&#160;May 12, 2015</font></div>
</td>
<td align="left" valign="top" width="49%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">By: <font style="DISPLAY: inline">/s/ Jon Thompson</font></font></div>
</td>
</tr><tr>
<td valign="top" width="31%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="49%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;&#160;Jon Thompson, Chief Executive Officer and President</font></div>
</td>
</tr><tr>
<td valign="top" width="31%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="49%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr></table>
</div>

<br>
<br>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh99-1.htm
<DESCRIPTION>PRESS RELEASE DATED MAY 12, 2015
<TEXT>
<html>
<head>
    <title>exh99-1.htm</title>
    <!--Licensed to: TANDY LEATHER FACTORY-->
    <!--Document Created using EDGARizer 2020 5.4.6.0-->
    <!--Copyright 1995 - 2014 Thomson Reuters. All rights reserved.-->
</head>
<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
<br>
<br>
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">EXHIBIT 99.1</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR IMMEDIATE RELEASE&#160;&#160;&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;May 12, 2015</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TANDY LEATHER FACTORY REPORTS 1<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">ST</font> QUARTER 2015 EARNINGS DOWN 22%</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sales up 5%, Gross Profit Margin Down due to Increase in Leather Sales</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">FORT WORTH, TEXAS &#8211; Tandy Leather Factory, Inc. (NASDAQ: TLF) today reported financial results for the first quarter of 2015.&#160;&#160;Net income for the quarter ended March 31, 2015 was $1.4 million, down 22% from net income in the first quarter of 2014 of $1.9 million.&#160;&#160;Fully-diluted earnings per share for the quarter were $0.14 in the current quarter, compared to $0.18 in last year&#8217;s first quarter, down 22%.&#160;&#160;Total sales for the first quarter were $20.8 million, an increase of 5% compared to 2014&#8217;s first quarter sales of $19.8 million.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Sales from the Retail Leathercraft division, consisting of the Tandy Leather store chain, increased $1.2 million in the first quarter, up 10% from last year's first quarter sales.&#160;&#160;The store chain consisted of eighty two stores as of March 31, 2015, with two new stores added since March 31, 2014.&#160;&#160;First quarter sales for the Wholesale Leathercraft division decreased $99,000 or 1% from the same quarter last year.&#160;&#160;Inside the Wholesale Leathercraft division, the stores&#8217; sales were up 1/2% while National Account sales, which were eliminated in April 2014, were down 100%.&#160;&#160;International Leathercraft, consisting of stores in the United Kingdom, Australia and Spain, added sales of $954,000 for the quarter, a 10% decrease over last year&#8217;s first quarter sales of $1.1 million.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font><br>
&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Consolidated gross profit margin decreased from 64% in the first quarter of 2014 to 61% in the first quarter of 2015.&#160;&#160;Operating expenses increased $445,000 in the first quarter of 2015 to $10.2 million compared to $9.7 million in the first quarter of 2014, decreasing slightly as a percentage of sales from 49.1% in 2014 to 49.0% in 2015.&#160;&#160;Compared to the first quarter of 2014, employee compensation and advertising/marketing expense were the primary contributors to the operating expense increase, followed by rent and utilities expenses, and depreciation.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font><br>
&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Jon Thompson, Chief Executive Officer and President, commented, &#8220;The quarter has been a challenging one, but our results were not unexpected.&#160;&#160;As we have stated numerous times, gross profit margin fluctuation is primarily the result of two things:&#160;&#160;the mix of leather and non-leather product sold, and the ratio of retail and wholesale sales made.&#160;&#160;Each can have a positive or negative impact on margins. Leather is the lowest margin item we sell and we sold significantly more leather this quarter compared to a year ago.&#160;&#160;While we want to be a leading supplier of leather to our customers, we need to sell our non-leather products to help support margins. We were not impacted in the fourth quarter of 2014 by the West Coast port slow down due to our high inventory levels at that time, but we have been affected in this first quarter.&#160;&#160;Deliveries have been significantly delayed and therefore, we didn&#8217;t have many of our non-leather products to sell consistently throughout the quarter.&#8221;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Shannon L. Greene, Chief Financial Officer, added, &#8220;We are still battling the foreign currency headwinds which contributed negatively to our results. If the exchange rates this year had matched last year&#8217;s rates, our International Leathercraft segment would have reported a 3% sales increase, rather than a 10% decline.&#160;&#160;Further, our consolidated gross profit would have been up $91,000, rather than down $133,000.&#160;&#160;Our investment in inventory is down $2.5 million from year-end &#8211; partly due to the West Coast port issue &#8211; but will begin to build as we move through the second quarter.&#8221;</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font><br>
&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Tandy Leather Factory, Inc., <font style="DISPLAY: inline; TEXT-DECORATION: underline">(http://www.tandyleatherfactory.com</font>), headquartered in Fort Worth, Texas, is a specialty retailer and wholesale distributor of a broad product line including leather, leatherworking tools, buckles and adornments for belts, leather dyes and finishes, saddle and tack hardware, and do-it-yourself kits. The Company distributes its products through its 28 Leather Factory stores, located in 18 states and 3 Canadian provinces, 82 Tandy Leather retail stores, located in 37 states and 6 Canadian provinces, and three combination wholesale/retail stores located in the United Kingdom, Australia and Spain.&#160;&#160;Its common stock trades on the Nasdaq with the symbol "TLF".&#160;&#160;To be included on Tandy Leather Factory&#8217;s email distribution list, go to <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; TEXT-DECORATION: underline">http://www.b2i.us/irpass.asp?BzID=1625&amp;to=ea&amp;s=0</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">.</font></font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td align="left" valign="top" width="11%" style="PADDING-BOTTOM: 2px; BORDER-TOP: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Contact:</font></div>
</td>
<td align="left" valign="top" width="34%" style="PADDING-BOTTOM: 2px; BORDER-TOP: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Shannon L. Greene, Tandy Leather Factory, Inc.</font></div>
</td>
<td align="left" valign="top" width="35%" style="BORDER-TOP: black 0.5pt solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(817) 872-3200 or <font style="DISPLAY: inline">shannon.greene@tandyleather.com</font></font></div>
</td>
</tr><tr>
<td valign="top" width="11%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="top" width="34%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Mark Gilbert, Magellan Fin, LLC</font></div>
</td>
<td align="left" valign="top" width="35%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(317) 867-2839 or MGilbert@MagellanFin.com</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">This news release may contain statements regarding future events, occurrences, circumstances, activities, performance, outcomes and results that are considered &#8220;forward-looking statements&#8221; as defined in the Private Securities Litigation Reform Act of 1995. Actual results and events may differ from those projected as a result of certain risks and uncertainties. These risks and uncertainties include but are not limited to: changes in general economic conditions, negative trends in general consumer-spending levels, failure to realize the anticipated benefits of opening retail stores; availability of hides and leathers and resultant price fluctuations; change in customer preferences for our product, and other factors disclosed in our filings with the Securities and Exchange Commission.&#160;&#160;These forward-looking statements are made only as of the date hereof, and except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Selected financial data:</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr bgcolor="#cceeff">
<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="3" valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Quarter Ended 03/31/15</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="3" valign="bottom" width="25%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Quarter Ended 03/31/14</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="21%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sales</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income from Operations</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sales</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Income from Operations</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Wholesale Leathercraft</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$6,725,304</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$951,855</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$6,823,968</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$1,372,637</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Retail Leathercraft</font></div>
</td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">13,109,413</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,403,452</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">11,956,354</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,472,703</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">International Leathercraft</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">954,047</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">33,574</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,058,144</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">121,323</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="21%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total Operations</font></div>
</td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$20,788,764</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="12%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$2,388,881</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$19,838,466</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$2,966,663</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="31%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Wholesale Leathercraft</font></div>
</td>
<td colspan="2" valign="bottom" width="21%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Quarter Ended 03/31/15</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Quarter Ended 03/31/14</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="31%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"># of stores</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sales</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"># of stores</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sales</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="31%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Same store sales</font></div>
</td>
<td valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">28</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$6,725,304</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">28</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$6,353,531</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="31%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Closed store sales</font></div>
</td>
<td valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">127,590</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="31%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">National account group</font></div>
</td>
<td valign="bottom" width="10%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">n/a</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">n/a</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">342,847</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="31%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total Sales &#8211; Wholesale Leathercraft</font></div>
</td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$6,725,304</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$6,823,968</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr bgcolor="#cceeff">
<td align="left" valign="top" width="31%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Retail Leathercraft</font></div>
</td>
<td colspan="2" valign="middle" width="21%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Quarter Ended 03/31/15</font></div>
</td>
<td valign="middle" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="middle" width="22%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Quarter Ended 03/31/14</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="31%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"># of stores</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sales</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"># of stores</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sales</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="31%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Same store sales</font></div>
</td>
<td valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">79</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$12,829,124</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">79</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$11,916,631</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="31%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">New store sales</font></div>
</td>
<td valign="bottom" width="10%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">280,289</font></div>
</td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">39,723</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="31%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Total Sales &#8211; Retail Leathercraf</font>t</font></div>
</td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$13,109,413</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$11,956,354</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr bgcolor="#cceeff">
<td align="left" valign="top" width="31%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">International Leathercraft</font></div>
</td>
<td colspan="2" valign="middle" width="21%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Quarter Ended 03/31/15</font></div>
</td>
<td valign="middle" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td colspan="2" valign="middle" width="23%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Quarter Ended 03/31/14</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="31%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"># of stores</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sales</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"># of stores</font></div>
</td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sales</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="31%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Same store sales</font></div>
</td>
<td valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$954,047</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$1,058,144</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="31%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">New store sales</font></div>
</td>
<td valign="bottom" width="10%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="31%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Total Sales &#8211; International Leathercraf</font>t</font></div>
</td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$954,047</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$1,058,144</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TANDY LEATHER FACTORY, INC.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CONSOLIDATED BALANCE SHEETS</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td colspan="5" valign="top" width="58%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">March 31,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;2015</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(unaudited)</font></div>
</td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">December 31,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;2014</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(audited)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td colspan="5" valign="top" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ASSETS</font></div>
</td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">CURRENT ASSETS:</font></div>
</td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Cash</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$9,928,649</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$10,636,530</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accounts receivable-trade, net of allowance for doubtful accounts</font></div>
</td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">of $370 and $395 in 2015 and 2014, respectively</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">664,149</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">625,054</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Inventory</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">30,407,882</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">32,875,492</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Prepaid income taxes</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">336,828</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Deferred income taxes</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">302,571</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">371,491</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Prepaid expenses</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,472,133</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,348,652</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other current assets</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">113,870</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">157,758</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="38%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total current assets</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">42,889,254</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">46,351,805</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="5" valign="bottom" width="58%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">PROPERTY AND EQUIPMENT, at cost</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">22,724,155</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">22,199,943</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Less accumulated depreciation and amortization</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(7,312,549)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(7,037,665)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td colspan="5" valign="bottom" width="58%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">15,411,606</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">15,162,278</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="5" valign="bottom" width="58%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">GOODWILL</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">962,091</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">971,786</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">OTHER INTANGIBLES, net of accumulated amortization of approximately</font></div>
</td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$674,000 and $665,000 in 2015 and 2014, respectively</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">46,748</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">58,026</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">OTHER assets</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">327,635</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">329,979</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TOTAL ASSETS</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$59,637,334</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$62,873,874</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="5" valign="bottom" width="58%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</font></div>
</td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">CURRENT LIABILITIES:</font></div>
</td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accounts payable-trade</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$1,742,070</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$1,255,218</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accrued expenses and other liabilities</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">4,297,326</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5,394,514</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Income taxes payable</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">86,575</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Current maturities of long-term debt</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">202,500</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,702,500</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="38%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total current liabilities</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">6,328,471</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,352,232</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="5" valign="bottom" width="58%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">DEFERRED INCOME TAXES</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,456,916</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,458,005</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="5" valign="bottom" width="58%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">LONG-TERM DEBT, net of current maturities</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,890,000</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,940,625</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="5" valign="bottom" width="58%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">COMMITMENTS AND CONTINGENCIES</font></div>
</td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="5" valign="bottom" width="58%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">STOCKHOLDERS&#8217; EQUITY:</font></div>
</td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Preferred stock, $0.10 par value; 20,000,000 shares authorized;</font></div>
</td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="bottom" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">none issued or outstanding; attributes to be determined on issuance</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Common stock, $0.0024 par value; 25,000,000 shares authorized;</font></div>
</td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="bottom" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">11,275,641 and 11,239,157 shares issued at 2015 and 2014, respectively;</font></div>
</td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="11%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="bottom" width="53%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,282,018 and 10,245,534 shares outstanding at 2015 and 2014</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">27,072</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">26,984</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Paid-in capital</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">6,052,221</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">6,013,325</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Retained earnings</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">48,109,236</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">46,664,829</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Treasury stock at cost (993,623 shares at 2015 and 2014)</font></div>
</td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(2,894,068)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(2,894,068)</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accumulated other comprehensive income</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(1,332,514)</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(688,058)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="4%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="1%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="13%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="38%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total stockholders&#8217; equity</font></div>
</td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">49,961,947</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">49,123,012</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" colspan="5" valign="bottom" width="58%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TOTAL LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</font></div>
</td>
<td align="right" valign="middle" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$59,637,334</font></div>
</td>
<td valign="middle" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="middle" width="11%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">$62,873,874</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<br>
<div id="PGBRK" style="TEXT-INDENT: 0pt; WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<br>
<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TANDY LEATHER FACTORY, INC.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CONSOLIDATED STATEMENTS OF INCOME</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(UNAUDITED)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR THE THREE MONTHS ENDED MARCH 31, 2015 and 2014</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr bgcolor="#cceeff">
<td colspan="2" valign="top" width="56%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="2" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NET SALES</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$20,788,764</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$19,838,466</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">COST OF SALES</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">8,205,836</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">7,122,743</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Gross profit</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,582,928</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">12,715,723</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="2" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">OPERATING EXPENSES</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,194,047</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">9,749,060</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">INCOME FROM OPERATIONS</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,388,881</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,966,663</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td colspan="2" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">OTHER (INCOME) EXPENSE:</font></div>
</td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Interest expense</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">44,163</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">45,828</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other, net</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(19,873)</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(1,344)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="51%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total other (income) expense</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">24,290</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">44,484</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="2" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">INCOME BEFORE INCOME TAXES</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,364,591</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,922,179</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="2" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">PROVISION FOR INCOME TAXES</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">920,184</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">1,067,767</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="2" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">NET INCOME</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$1,444,407</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$1,854,412</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="2" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td colspan="2" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="2" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td colspan="2" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">NET INCOME PER COMMON SHARE:</font></div>
</td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">BASIC</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$0.14</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$0.18</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">DILUTED</font></div>
</td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$0.14</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$0.18</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td colspan="2" valign="bottom" width="56%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING:</font></div>
</td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">BASIC</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,211,333</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,198,733</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" colspan="2" valign="bottom" width="56%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">DILUTED</font></div>
</td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,241,096</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="8%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,239,505</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>

<div style="TEXT-ALIGN: center; WIDTH: 100%">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">&#160; </font></div>
</div>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TANDY LEATHER FACTORY, INC.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CONSOLIDATED STATEMENTS OF CASH FLOWS</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(UNAUDITED)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FOR THE THREE MONTHS ENDED MARCH 31, 2015 AND 2014</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div>
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr bgcolor="#cceeff">
<td colspan="5" valign="top" width="59%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2015</font></div>
</td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2014</font></div>
</td>
</tr><tr bgcolor="white">
<td align="left" colspan="5" valign="bottom" width="59%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">CASH FLOWS FROM OPERATING ACTIVITIES:</font></div>
</td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="57%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net income</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$1,444,407</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$1,854,412</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="57%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Adjustments to reconcile net income to net cash provided by (used in) operating activities:</font></div>
</td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Depreciation and amortization</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">383,936</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">346,555</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Loss on disposal or abandonment of assets</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">5,804</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">3,600</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Non-cash stock-based compensation</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">29,064</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Deferred income taxes</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">67,831</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(58,670)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Foreign currency translation</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(585,107)</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(124,726)</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="3" valign="bottom" width="55%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net changes in assets and liabilities:</font></div>
</td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accounts receivable-trade, net</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(39,095)</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(124,239)</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Inventory</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,467,610</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(4,231,692)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Prepaid expenses</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(123,481)</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(30,478)</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Other current assets</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">43,888</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">318,050</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accounts payable-trade</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">486,852</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">843,414</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Accrued expenses and other liabilities</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(1,097,188)</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(578,676)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="2" valign="bottom" width="52%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Income taxes payable</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">423,403</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">332,579</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="57%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Total adjustments</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,063,517</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(3,304,283)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="57%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Net cash provided by (used in) operating activities</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3,507,924</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(1,449,871)</font></div>
</td>
</tr><tr bgcolor="white">
<td colspan="5" valign="bottom" width="59%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="5" valign="bottom" width="59%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">CASH FLOWS FROM INVESTING ACTIVITIES:</font></div>
</td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="57%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Purchase of property and equipment</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(677,444)</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(641,282)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="57%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Decrease in other assets</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">2,344</font></div>
</td>
<td valign="bottom" width="3%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">9,014</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="46%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net cash used in investing activities</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(675,100)</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(632,268)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td colspan="5" valign="bottom" width="59%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="5" valign="bottom" width="59%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">CASH FLOWS FROM FINANCING ACTIVITIES:</font></div>
</td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="57%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Net decrease in revolving credit loans</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(3,500,000)</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="57%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Payments on notes payable and long-term debt</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(50,625)</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(50,625)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td valign="top" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" colspan="4" valign="bottom" width="57%" style="PADDING-BOTTOM: 2px">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Proceeds from issuance of common stock</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">9,920</font></div>
</td>
<td valign="bottom" width="3%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">-</font></div>
</td>
</tr><tr bgcolor="white">
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="2%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="top" width="5%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="left" valign="bottom" width="46%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Net cash used in financing activities</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(3,540,705)</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(50,625)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td colspan="5" valign="bottom" width="59%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="5" valign="bottom" width="59%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">NET DECREASE IN CASH</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(707,881)</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">(2,132,764)</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td colspan="5" valign="bottom" width="59%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="5" valign="bottom" width="59%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">CASH, beginning of period</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">10,636,530</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">11,082,679</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td colspan="5" valign="bottom" width="59%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="5" valign="bottom" width="59%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">CASH, end of period</font></div>
</td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$9,928,649</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%" style="BORDER-BOTTOM: black 4px double">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$8,949,915</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td colspan="5" valign="bottom" width="59%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td colspan="5" valign="bottom" width="59%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="5" valign="bottom" width="59%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:</font></div>
</td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td valign="bottom" width="10%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" colspan="5" valign="bottom" width="59%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Interest paid during the period</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$44,163</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$45,828</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" colspan="5" valign="bottom" width="59%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Income tax paid during the period, net of (refunds)</font></div>
</td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$379,690</font></div>
</td>
<td valign="bottom" width="3%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160; </font></td>
<td align="right" valign="bottom" width="10%">
<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$791,137</font></div>
</td>
</tr></table>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block"><br>
</div>

<br>
<br>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>talefalogo_rgbhalf.jpg
<DESCRIPTION>CORPORATE LOGO
<TEXT>
begin 644 talefalogo_rgbhalf.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_X0!F17AI9@``24DJ``@````$`!H!!0`!
M````/@```!L!!0`!````1@```"@!`P`!`````@```#$!`@`0````3@``````
M``!@`````0```&`````!````4&%I;G0N3D54('8U+C`P`/_;`$,``@$!`0$!
M`@$!`0("`@("!`,"`@("!00$`P0&!08&!@4&!@8'"0@&!PD'!@8("P@)"@H*
M"@H&"`L,"PH,"0H*"O_;`$,!`@("`@("!0,#!0H'!@<*"@H*"@H*"@H*"@H*
M"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"O_``!$(`)T!
M.`,!(@`"$0$#$0'_Q``?```!!0$!`0$!`0```````````0(#!`4&!P@)"@O_
MQ`"U$``"`0,#`@0#!04$!````7T!`@,`!!$%$B$Q008346$'(G$4,H&1H0@C
M0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I*C0U-C<X.3I#1$5&1TA)2E-45597
M6%E:8V1E9F=H:6IS='5V=WAY>H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJ
MLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+CY.7FY^CIZO'R\_3U]O?X
M^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4&!P@)"@O_Q`"U$0`"`0($
M!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R@0@40I&AL<$)(S-2\!5B
M<M$*%B0TX27Q%Q@9&B8G*"DJ-38W.#DZ0T1%1D=(24I35%565UA96F-D969G
M:&EJ<W1U=G=X>7J"@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>HJ:JRL[2UMK>X
MN;K"P\3%QL?(R<K2T]35UM?8V=KBX^3EYN?HZ>KR\_3U]O?X^?K_V@`,`P$`
M`A$#$0`_`/W\HHHH`****`"BBB@`HK\\?^"JG_!>/PS_`,$O_P!H?2/@!JW[
M.5[XSDUGPA:Z\FJVOBF.R\D2W5U:^28S;2DG-KG/'^MKYO\`^(P3P1_T8EJW
M_APHO_D"@#]GJ*_%[_B,*\#?]&):M_X<*/\`^0*/^(PKP1Y/G_\`#!NK?^'"
MC_\`D"@#]H:***`"BBB@`HHHH`****`"BC(Z9HH`****`"BBB@`HHHH`****
M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHK\S_P!K/_@XD_9[_9T_
MX*`:+^RM#IEOK/@?39Y-.^*GC;36FEET'4Y#Y47E11?ZV*UE'^E#_6?O3Y69
M;4Q3`'Z85PWQF^,_PX_9Z^'&L_&+XP^+[#0/"^A6HN-5UC5+KR8K6/(49_YZ
M/)(8XXXAF26201J"2!3?$_QK^'7A#X62?&"[\6VEUX?-G;7-EJ=G<"YBU".Y
M(%J;7R^;J2Y,L4<,<6?-DECCCR2*_/#6_P!J#Q]^VY\5O$=]JF@Z3;^$=!T>
MZ,LFM7L,FD?#[PY?:!HNJ'Q!J_E3?\?US8:GJ5K%]EEE_P"/66**6*U_M2ZE
M`/RT_P""^?[4'_#4O_!2WQ?J=CIE]9:9X2TVQ\.Z1#J)\NY\J*/S9?,C_P"6
M7^E2W/[K_6CI+Y4O[J+XTKJ/C9\0O^%M?&GQA\5/)O8O^$H\5:IJW_$Q\K[5
M%%=74LO[WRHHHO-_>_\`+****N7H-`HHHH`_K[_8=_:/\._M9?LJ>`_CSH7B
M'3-1N->\+:?<ZZ-.NXI?L.H2VL,MU:R^4<131RR8DC/2O9:_$C_@B=^W+X9\
M$_LK^#+7PAKNI7GB3P1=W6@?$'PG=F7R]4TN7^U=4MKJQ\K_`)>;6UM;F*+S
M?];Y,MK^Z_=747[0^']?TCQ+I%IXC\.ZM!?6%];QW%K=VDWFQW$<@!CD1P<%
M"#GC_P#6&9K45^>G_!6+_@NY\%_^"<OCSP[\&/#/AZ/QWXU&L6USXVT*SGP?
M#^C'][)))C_E]DA_>Q0_\\L32^5'+$9?LOX`_'7X:_M.?"+0_CM\&?$L.L^&
M/$U@EYI-_:S!@1DB2*3KY4L4F8I(C^\BEBEC(!C(`!Z!1110`4-T/TH!!Z&D
M=@%))Z#F@"#RXQ*N&(*C[M.B18UP,D$U\8^-?^"M_P`'/!'[;,7[*/B#1F@T
MXS1:;/XO;4HGA&I28Q;^2"?W8+B-Y"<B3K'Y<9EK[,$YP)%'RX/\ZQHXFEB5
M[C/2S+(\UR>G1J8VFX>TCS0OUCW+`&!BB@'(R**V/-"BC(]:,CUH`****`"B
MB@C(P:`&J%SQG\:-XSP,TUB4'KZXKF/B7X[A^&W@;5O'%[I=[>P:+I=S?36>
MGP&6YG2*(R&.*/\`Y:2'&`/7ZTWHKL5*G*M55.&[.G9F(XYHW';QQZU\T?L@
M_P#!3'X"?MDZKJ/ASP!_:.F:MIR!Y-$UV**.ZEMO^?F,12R"6+W'MGB2,GZ5
M#;LJ.H]*RH5J6(I\\-4=V99;C\IQ'U?&4W"79Z,FHH'3FBM#B"BBB@`HHHH`
M****`"BBOS;_`."YG_!:C1_V`?!MQ\`?@!J5O??&/Q!9;H[J8I):^$K&4#_B
M82@_NI+G_GE!+P/];+^[\J*Z`/+O^#@/_@MEKW[-MO>?L5?L@>+?LOCB^LS'
MXW\8Z=>?OO#-M+TM;;G]U?2]YCS;18\K$LGFVOX*58UC6-4U[5+SQ)XBU6YO
MM0O[R6YU+4-0F\V6ZEE_>RRRRR_O999?^>M?<G_!OE^QE^S9^W'^VCXD^$W[
M4WPZE\3Z!IGPSOM4LM/_`+6NK+_2X]0T^'S?,M)8I?\`574G[J@T/G_X)?\`
M!1G]LKX`>`]'^%?P^^.VK?\`"+^'/$EKKV@^&=1\JYMK6_M9?-_=>;%YL47[
MV666*+RHO-E\W_6UTWQ`_P""J7[4/CG]CK3OV(K!_#OAOP7!#:Q^)+KPSITM
MMJ7BV*UBBM8O[2N999?-\JUMK6+]UY7[J&*+_51111?OI_Q#I_\`!'+_`*,_
M/_AP_$7_`,L*/^(=/_@CE_T9^?\`PX?B+_Y84&9_+S17]0W_`!#I_P#!'+_H
MS\_^'#\1?_+"C_B'3_X(Y?\`1GY_\.'XB_\`EA0!_+S17HG[8'@GP!\,?VK_
M`(H?#GX56$MCX;T'XA:SIWANTEFEDEBL(M0EBM8OWO[W_5?\]:\[H-#TS]C_
M`.)WAOX/_M$>'_&/Q`GEB\-W7VK1?%4L/F^;%I>IVLMA?2Q>5_RUBM;F66+_
M`*:U^B'_``4)_P""P7_!2;]EFWC_`&=/A;>6_@KPQJ</]I>&O$T_AOS=7M+:
MZ'VFZT$7,TLMK+'8R7/]G^;:Q1>3]ECB$OFQG/Y1U]J?M76>D_&S_@EI\(_V
MA;'2M-EU#POJ7_".:Q_9TWF_V7%_I7[J7_2O];+=1?;[JZEBB_>Z_8112R_\
ML@#XW\2^)/$?C#Q)J'C+QCXCO=7UC5+R6]U+5M1O);FZO[J67S99999?];++
M+_RUK[!_X(Y?\%:?B+_P32^++Z5KMS?:M\*/$VIQ'QKX9B/[JP_Y9?VK9?\`
M/*YBB\KS?^>L47E2_P"JAFB^,J*`/[/?`'Q$\%_%GP-I/Q-^'/B&SUG0->T^
M*^T?5=/F$D5W:R1^9'+&1Z@\5T3=#QGBOYM?^"&W_!:?7?V"_'%E^S-\==2O
M;[X,:[J8\F[O+CS)?!MU*?WMW%_TXRR_ZV'_`+>HOWOFQ77]'.DZS8:]8QZO
MI%U'<VMU%'+:W<$P>.6-QPZ$?6@S)X)C$H62$*S'A!6-XU\1:-X0\,ZAXIUZ
M_BMK*PLY)[FXEDQ'&B#>TA_+]*I_$KXG?#WX3^'YO%7Q+\9Z=H6GP)^_O]3O
M(X((_P#@<A%?GO\`MZ_\%B_@'XW^#?B'X(_`6WU37+[Q'I+V,6NRV/V>S1;G
M,4@_>_O-_E^80/+[5Q8W,<'@J3=6I9GU/"G!W$'%.94J&"P\YT[KFFEHE?OM
M_74_-S7]4\6?&3XGWVOM;B;6?%/B&6\%I$?]9?7-U_RR_P"VLE?T@Z5=6\.@
MVKRWR`+;*-S2=\"OYKO#GB/5O".NV7BCPYJ#6M_I]S'=V%PBY>WDCE\R.4_]
MM8ZZGQS^TC^T5\4X[C2_'/QO\8:K874FZ;2;SQ!<M:X]/*$OE5^?9-GU++O:
M.<&^=W/[,\4?"+,>-)8"%&O3HT:$+:^=NFG\O<_?3Q_^U?\`LV?"._.B_$WX
M[>$]&O#%YC6FI>(+:&7'KY;R`UY-K/\`P6%_X)\Z)J3Z/>?']'FA'[YK3PYJ
M-S%_W]B@,?ZU^/?PA_8T_:F^.9A?X9?`SQ#J5M=6?VBSU)].\BTEB[?O[KRH
MS_W\KVSPA_P1(_;O\2Z9_:6MZ!X=\-N)<FUUCQ"))`/K;Q2"O8AQ!G6)7[G#
MGY/+PC\+LI;AFF>KVB_EY5_Y+[S/UT^!W[1GP5_:-\'1^./@M\0+77M/F3;O
MMF*O%)WCDCDQ)%)S_JY`"*]"1=K$D]%P1FORK_X);?L=_M9_LU_MI74'B*[L
M+#PW8:;+#X@EL]7CGMM6WC-O'''YID2029E_>1(\<?F#/[W,OZHQ!%4Q^9GN
M2*^HR[$U<7AN>I#D9^'<;Y!EG#V>O"Y=B/;T?B4_5=?,N#IQ12`JH^]222I$
MAD=P`!R2:[CY-:B?)[T[&U<=:XW0OB]\,_%/BB^\&:!X_P!&O-6TW_C_`-+M
M-8BDNK;/_/6,'S(J[$'<N10FGL75HUJ#M4C8B)D$@VJ0._-4?$,9;0KP(.L+
M8'X&K-W=VUE$;N\E5$`Y+-BO+M'_`&N/V:_B%K4_@KP7\;_"VJZK]FF=+'3-
M<MYI<1_ZS@$^O-95JM.E'5G1@,)C,5452G3;4=[)O[^Q^"_[./Q:NO@3\=_"
M?Q8MKZ2(:)KL5Q=F(9WVW^JN8_K)'))'_P!M:_HZL)5:V64?Q(')^M?S/>&]
M-&L:]9Z4;CRX[J:*/S:_I<T>,KIL(7G,"?RKY3A"MSTJL/,_H[Z1^$H4L1EE
M=+]Y*DT_ERV_-FA12!E&%+<TN1ZU]@?S,%%&1ZT4`%%%%`!1110`5^:__!63
M_@@%\'?VZUU;X_\`P(UI/!/Q?O&:>\U/4;F>33-?F%M'%$;V+$OV22/R8\36
MT7_/3S8IL@Q_I110!_%_\7/A%\5/V?\`XHZY\%?CAX"U#PQXL\.7GV?6-$U1
M`TD7Y?NI8I?^64L7[J6+RI8OW4L5==^R?^V=^TA^PW\0[WXK_LM_$2+POK^H
M:/+I-YJ/]CVM[YMK++%++%Y=U%+$/WMM%7[Q_P#!PE_P2VT[]L[]GJY_:<^$
MVCRS?%7X:Z/-)`EA:>9+K^C13&6YT_GK+&))I8>N9!+'Y9\[,?\`.=0:+4^V
M/^(BC_@L5_T=Y_YC[0?_`)`K]N_^"&/[8/Q=_;?_`&`]&^,/Q]U&WU#Q5;:]
MJ&EZGK<-I%;#4#',3'+Y4,4449\J2./]V,'RZ_ELK^F;_@VA_P"42G@S_L8]
M=_\`3A-09GG/_!8/]LC_`(*6>&OV]/A#^PI_P3F\;6/AOQ!XX\):AK,LM]I=
MA)'?R1&ZD$4DE_%+'"(HK&4_N^9/..<8BKSO_A`O^#N3_HO'A'_P#\+_`/RO
MKU/]K3_E9N_98_[)5K7_`*0>(*_3&@#^+?XA>//$?Q.\;ZQ\1O&-]]IU37M8
MNM1U*;R?+\VZEE\V67RJQZ**#0*^R/A+XDGO/^".OQ,L=<UR6VDB\5166F^3
M#]MENK"+4-*EEBBB_P"8?8174L4MU=?NI9;K^S(O-\J+RJ^-Z^O/@^=5T'_@
MD'\3+[[/+]GU3QM81P^3#]BBEEBEL/*M9;G_`%NMW7_'S+:Z5_JK6*6ZU"7]
M[+84&9\AT45]^?\`!`;_`()?)^WG^T+-\5_BKH8E^&/PXO(I=9AFL_,MM>U/
M_EVTKG_EGC][<_ZW]U^Z_P"7KS:#0]*_X(Y_\&]^K_M=^'-'_:?_`&S+C4_#
M?P^U!X[K0/"4"&WU/Q1:#K-)(/\`CUL)/^6<O^MNHC))%Y49ANI?WQ^%'PK\
M!_!'X<:+\(OA=X>M=(\.>&].AT[1M+M!B.VM8HQ''$/IBNIH/0T&9^4/_!<[
MX`_M$_$'X]>%/&/@SP)XB\3>')O#CVMO!HUC=7D5C>17#R2$QQ#]R94DM_WG
M_+3[+_TSKXD^)G[*W[1'P7\`:9\5/BS\)]6\/:1J]S%:Z;+JBQQR>9+%++Y4
MD'F^9%_JY/\`61U_1;-Y+0D7,2R%.2,>]?!/_!P3;QR?LH^$61>OQ!@(.,8'
MV&\XKX[/\BPDHU,;+>Q_2OA+XNYS@\1EW#=*A3]FZG*YVULWZ_YGY_?\$W/V
M8_"/[5O[6&B_#3X@2SOX?M[2YO\`5+"WEV"ZCCC_`'7[S(EB_>RQ5^ROP3_8
M5_94^`B6]U\+O@/H5A>VPE$.JW%J+B\3S#^\_P!)EWR\_P"_7YG?\$%[2WNO
MVT]3:YY*_#V]91GO]MLJ_98,%C*Q@`YP0*TX6PE#^SE4[G#](?B;.9<;SP%.
MO-4:<(^XF^7:^WS&1PPV\.V&)`5ZJJCFOS!_X*[?\%+O'7A/Q]=_LK_`#7!8
M1:?$/^$JURS62.Z,LD>?L]M+_P`L_*CYDECSS)Y>8O*EK]&OBEXAO_!WP\UK
MQ7I6GR7UUI>E7%Q'8VQ_>7$D<9<1CW/`_&OPY_X)_P#@#2OVI/VZ_#MM\8M1
MM]0MM4U>XUO74U*8`ZA<QQRW&P9&)3)*?WD73RO-KISZO5C[/"T-ZCW/G_"#
M(<JQ57&9_FD/:4\)3Y_9]Y=/N.#N-)^//['GCWPUXL%U>^%/$MSH\>NZ-Y3G
M[1%!)+)'']IC/7S/+D\V.3_EE[BOVZ_8$_:1L_VI_P!F/0/B^T5I#?W#3V^L
MVUM+E+>]BE:.0`#[F_A\=?WE?FM_P7BEL'_;&T--.C18X_AU8KE#W^W7M?4?
M_!OVTH_95\5`-\H^(-R<>_V&QKS,CE6P6=5<'!^YYGZ!XIPPW$WA5@N)JM%4
M\0ZEO=T7)>5HF=_P55_X*5_&?]D[XT^%_A5\(K6PV)IW]KZX=2M-\5]&\LL<
M5KGK'_JI)/W>9<B/Z2<-^W!_P50OOCK\"O!/P;_9:2Y_X2?XE:?'_;T-H9!<
M:=YLGV?[%%)+Y0\R2Y\R/S>T49D&/-BDKY^_X+3^+[WQ)^WYXCT>9`%\/Z3I
M^G6V/XHY+>.X_P#1MQ)7=_\`!#']FF'XC_''5_C_`.(K>7[%X+L_(TL2C]W/
M>W'FQ^8/0QQ>9^Z]+J.IJ9AC<1F]3!0EI+\#NP?!/">2>&V`XJQ=+][2CSVZ
M5)S^!2]';[NQ\M^'=:^(7[%W[3D&I07<3:]X$UU5NQ8R[H9P@S)%[1R1>9%[
M&6OZ#?`OC31/'O@K2_'?AZ]CGTW6-/AO;*Z0Y$D4D8E63\C7\]_[7LDEW^UG
M\4I)9L*OQ$UJ)0.W^FRU^M6J_&G4/V>_^".>A_%72;O[-?V/PGTBUTJ9(?,V
M7ES:V]O;-[_O98ZTX>Q,\/6Q%*3]RFSS_&C)8YY@<BQ5*"5?$I1TT^+E_P#;
MFSY*_P""P/\`P45U[XD>.-1_9>^$.MWEGX<T>62T\374?R?VM-_RUMLGG[.G
M?_GKB0?ZH$GY5?\`9I^/O@/]GO3?VO\`3PVF:)-KR6FB7MM?^5=E_P!Z/M$?
ME?ZJ/S4\K_GK_P"C:Y[X"?"J_P#CC\9O"WPDTB.5;GQ!K=M:?:((?,:WBDE_
M>R_]LHO-E_[95^NG_!2?]B'XA_'3]E_PG\'/V?K;1-.T_P`'7D-W%I=]))&/
MLUO9RP1V\&W_`'_^6F17ETJ&,SWZQBY[+X#[W&YKDGA*\JX8PT(1]K9XB<U?
MW?\`[;\#\88?]=^-?TNF\73O#"W.?F@L-X_!:_F>A_UWXU_2UJ0_XH.0L/\`
MF%\_]\5Z'!FE"J?(?2:5.KF.56V:G^<#\L/V-?\`@L/\<_&_[8MAX:^-NH6E
MQX/\::Y]@TK2HK.(R:(\LO\`H7EO%%YDL>/+BD,O0XE_=#(/Z6?'OQ[K/PM^
M"?BWXC^%].COK[1?#-[?Z=:.<)<RQ02RQQ_B8Q^=?SW_``3U=_#GQC\)>(UE
MV)IWBBQG:7_GD([J*6OW9_;N\:Z?\//V'/B#K^I:FMDY\%W5K!=-_!<7$1BB
M/_?QTKKR+,,3BL#B'5GJG]Q\IXN\$9/DG$>50RVARK$*,>3N^9+\4T?(?_!*
M/_@JA\8OC/\`&`?LZ?M)>(DUF]UJ.2;0-?\`L45O*TL<7F26LD=K'Y7^KCDE
M\W]V/;][%7Z7*Y5,"/O@"OY]_P#@G9>:UIW[;WPRG\.K_I$GB1$F_P"N4H\J
M7_R%YE?T#(LH0*,D[.#[UW\.8ZKC\#>H>!XY<)Y9PGQ13IX"')"I34^7L]OT
M+-%'UHKWS\6"BBB@`HHHH`HZI?V&EV$M_J5W'!;Q1;YY97Q'&GK7\>/[6?@+
M7OAK^T7XHT+7?`5EX7^WWD6K6>B:3H\ME;6%K?117]K%;6TO[VTBBBN8O*BE
M_>Q1?ZWRI?-BK^K_`/;J\5WG@3]BKXN^.-)\K[1H_P`+=>O8?-_U?[K3Y9/Z
M5_/Q_P`%>OA7XKU+X(_#_P"/WBKRM$D_TK^S?#.K:EY6L2Z7=?Z5%=?V9_K9
M?]*^TRW^J77E2W6JW\O_`"Z_9:`/@.OZ9O\`@VA_Y1*>#/\`L8]=_P#3A-7\
MS-?TS?\`!M#_`,HE/!G_`&,>N_\`IPFH`X?]JZ3?_P`'-O[+G_9+-:_]-^OU
M^F5?F7^UG+YO_!S?^RV/3X6:\/\`RGZ_7Z:4`?Q/T45^]W_!NK_P2H^`>F?L
MV^'?V\/C7X0@\4>//%EW-=^%O[>LQ+;>&[>VNI(H9;:,\274OV<2BY/,<1BB
MB$0$OG!H?@;Y_M7UY^TMJ6N?!G_@F[\,_@?XCFL8O$'B.;^T8=)U;6(K[4[7
M2Y?]/B^S6UI+Y6E6$LMS;2_O?-NM0EB\V7RHK"**OZ+/V_\`XVK\"?V8]>US
M2O$5GI&OZZT?AWPE--X@ATV7^U-0D%M%+;R2Q2^;+%YCW7E1Q332_92(HI9,
M1GRS_@DE\-_%7AWPYXY\::M<:C9:/?:S:Z9H.AGP?-H&F?Z)')+=:A:VEU++
M?F6ZNKJ7[3+?RRW4LUK(99/^6409G\MTW^J\X?ZO_GK7]87_``28_8TLOV%_
MV#/`OP4N/#\6F^))]-&M>-AY422R:U=8EN8Y9(A^],/[NU$O.8K6*OR'_P""
MI'PEL?CG_P`'*FA_![6?",7B#2]?\;>"+;7=*F_U4NE_9;#[=YO_`&Z^;7]"
MU`!114<TWE4`-<8DR3G&>OTK\\/^#A'4U_X4IX$\-^=S=>*WN/\`OW:S?_%U
MW$W_``<1_P#!';SDC/[7RYEE\L?\4'K_`%Q_UX5Y]_P<0>%&O?@YX`\:02?\
M>'BF6Q\OU^T6TDA_]$"O'SU-Y541^D>$#H1\1\O]KM[3\;.WXV/)?^#?+P='
MJGQ]\;>-G/\`R#O"<5J!_P!?-RDO_MM7KOQ)_P""M7QH^%G_``4$N/V;=8^'
MGA]_"$7BRTT>2Y)=+R*.Y$7^DF4R^6?];YGE>7G'?/-<7_P;O6Q&M?%B[W8$
M=GHW'KG[;_@:^2/VSO$VJ_%O]OGQEJ/AV`?;-1\>OI^G_P#76VEBM8O_`$77
MS5#%U<!DF'G#K,_>,YX;ROBWQ;SJEC:?-"E0BU_=ER0L_P`S]N/VB/V@OAU^
MS=\([WXO_%/5%MM)MK<DQJ<R7,I_U<4:?\M)).@%?B?\7?VL/$GQ9^,TOB#]
MF[X-Z5X!O;Z]E73U\(:./[9N9)3^\_?Q1>:99/WG_'OY?^LEB_>FOT/_`."Y
MWP_\:>./V.=*USP[IPN+30/$UOJ.KA&YCA:UN+?S/PDN(_PKX[_8R_X*+_LZ
M?L8_`]M+\*_LVWVI_$2Y>:.\UV\N(DBN4,OF11&Y_>RQ_NO+_=>7_P`LZ[,[
MKRJXY49U/9P/FO";**&`X6K9MA,(\7BIU/9JGS6A%=YIM)KU_`^6?B1X3^+O
MA3Q)N^-/A[7['6=1C^U?\5/;2)>W$<G_`"TE\W]Z/]5)7ZT_\$#/#SZ1^QYJ
MNKRK*9-3\;WES$)?[OV>VB_]I&ORF^.OQF\;?M"?$O5/BU\0[R-]1U6[\R:*
M,YCMHO*B\N../O'''Y9-?LG_`,$7](M;;_@GQX.NK>+RI;F\U.2;V/\`:5S7
MD\->R_M6KR'WWCS7Q5+PQPE/%1C"K*I"ZI_`O=E=+T/S2_X*\8_X>,_$7'_/
M;2__`$VV]?H)_P`$,OA]'X-_8;3Q+'>S3MXH\0:C?LDW6'RY/L?ECZ?9`?\`
MMI7PK_P6A\!:KX0_;Z\3>(]0?]QXGT_3M0L9/[L<=M%!C_OY;R'\:_1G_@CG
MF3_@G3X(>09(;5-P_P"XC<BN[)Z+7$N)9\GXD9A#_B!^24J#NI>SO\H._P")
M^.W[69W?M7_$YO\`JHVM_P#I;+7Z6?M5SN/^"$WAL(!)&?!7A+[1_P!<_-LC
M_P#$U^</[:OA_5?#'[77Q/T_5+.2WN)/'6K7'E2]XI;B66*7_OU+7[`_"WX-
MZ/\`M#?\$N/"/P9UA$BBU[X3:5!;R2VPD^SR_88C%+Y9_P">;[)![I6>4X:K
M5KXVF>GXE9EA<LR;A3&3^"FX2?RY/Z]3\QO^"0@4_P#!13X=AYL_O=0_]-MS
M7ZZ?MP?'>P_9L_9M\5?%F[OHH[JSTN6/2H9D+B>]E'E6\>!V,K)G_8#_`%K\
M2_A5XK^(G[#7[5VD^*O%O@Z]M-8\$>(?+UK3;N'R]\?^JD,?_/;S(Y9?*E_U
M7_+6O:_VZOVU/B-_P4O\>>'?A1\`_AQKAT?28Y;NVTB5(S<7=[Y7_'Q*J_NX
MXHX_-B_UO/FR5GE>8PP&55,,OXAW^)'!5;C3Q`R_-U;^SW3@YU+JUHMR>O\`
M>3_JQ\A0_P"N_&OZ5-14GP++&3UTK_V2OYT_@=X4O_&7QL\*^"+*'$FL>);&
MQ>(>DEU%'+YE?T8ZC`9_"TMC&.19%0/^`UU<'*7L*[:ZGS?TEL7A'F^54J4O
MA4ONO&WY'\W_`,,;/^TOB/X?L,?\?6O6L?G?]M:_3#_@O+^T;:Z#\)_#7[,O
MA[5(#=:_<#5-<M3)$<V5N,Q1O&>@DN3')YG86TM?F-`?$_PU\<QM>:;)IVM^
M'M7_`'MKJ$7ER6UU'+_JI(_^NL5>G_%6_P#CQ^U]-X]_:R\60;M,\.1VR7]P
M\VVWMHWN([>VLH#_`,#\W_OY++_K8O-^?P>+K4,+BL/!>_,_8>(N&L%F_$N3
M9UBZJ^K4$M;[SGR<B^;_`".G_P""3FGP:A_P4,^&MM.,[;Z],0/_`#T33+J2
MOWF*L`.3]T]Z_%+_`((<^%=+\0_MU6VJWUM^_P!#\+WU]:G^[+YD=M_Z+N)/
MSK]L/XO;)KZ[A&GR9:KG\X_21Q:Q/'ZII_PZ<%^+?Y-$R]!]**%Z#Z45]2?@
M(4444`%%%%`'@/\`P49T#QYXC_8_\56_PYB\2W&IV$NGZL\'A!(I-2N[:QU"
MVOKJ"VAFAFBNI)+:VEB^RRQ^7=>;Y)_UM?F;^U%H,_Q(_8\^('A3Q5XC\+:!
M9^(_"O\`PD^CZ'=^)+K[3JEU%Y4MKJMS%^ZO]0B\WRK7^VM8NK6UM?LL4LNE
MQ16OFU^S?B#1-(\5:1=Z!KMC'=6%_:2VMY:R_P"KFBD'ER1OZY!(K\)_VN/A
M9\/[_P",,_B?PUX;LI/.\7^(_`_BJ[US3?MVL76@_;[_`$N66+5]0\WRK^*+
MPUXENOM]U+%]EBO["*67[+%_HH!X)^S3^R7^Q-^RCX#\-_'?]O;XQ>`-;U#Q
M1#%YWPGFAU2YOK"PEM8I8I?-TJ7_`$2Z^P7,5UY5U:_\\HO-M?-\V+]2/^".
MGQ1\$?!7Q!8_L-?#'Q#I>N?#^Y\+W6M>$/$<=Y#\^IVU^8KJUCS+YLTEU:RV
M.LF'RQ]E&H'GRI8H;;\E_P#@K'\$_&-Y%9_M)WWB/2?[/M=8B\,6?A/2=!NM
M-L?#EKY4OE16T4L7F^5+?V/B'S?-_P!;Y45UY47V_P`J+U/5O^"F'QN_X)H^
M'O@Y:_#2R\-^(/%]M\/8K;7](\<65U?26,L7^@1>;)%+:_99;7RKZUBT^+_C
MU_TJ6Z\VZOY?LH!^@7[5O_*SA^RW_P!DIU[_`-)-?K],Z_GO_P"">G_!2KXP
M?\%&_P#@N?\``KXT?M`:'X1T*]T'1M9T:SB\+VUU;VTL4FDZI+%Q=74N99)+
MD?E7]!TD8D&#0!_%#7]6?_!$7_E%'\$?^Q0_]NIJ^*/$'_!HO^S_`'>N7NH:
M%^UMXRM;26[D:TM+W0[:YDCA_P"6<<DHDB,THS_K2!^%?I=^QC^S7I?['W[,
MWA#]FK0_$UQK-IX2TLV<.JWD0BEN099)<E!D#_6&@#\^?^"T/QX'P5_:BU;X
MD>(_BW='3_"7P<TRXT'X>3_%*;P_'?W]]J.JPRW=M%:VEU?S77[JVB\ZU^P^
M5%%+%+=^5++%7XCC]LO]K:"6X^P_M0_$.RCNKR6]\FT\;7\47FRR^;+_`,M?
M^>M?T2_\%._^",&C?\%._B/I?C7Q?^U'XI\)Z+INB6EE-X4TK3XY+:ZN[::[
MD2ZDW2#,GEWLL0_YY@R8_P!;(*_F.H`^Y?\`@A+X[\<_%7_@M-\'_$7Q2\77
MOB+4)FUWSM1\0WDM[=2^5X;O_+_>R_\`/+RHZ_I[K^5/_@A-\1]"^%O_``5H
M^#'B+Q+/Y=O=:]=:3#^^_P"7J_T^ZL(O_(MS%7]5E`!0>1110!_$_P!?](S_
M`*JOZT?^"F'[/]W^T=^R5XF\$>'M.2YUNRA&IZ!&((I9)+N#]X(XQ)P))%$D
M6>PE-?R7=/\`1\?ZVO[6)(()&97P<KA@1VK.O35:BZ=0[\KQ^)R;'T,=AW[]
M.?/^1^''_!-7]N30_P!B;_A9EMXKTIY;C6M#B32HGCE&[4;?S=EO)Q^Z3_2)
M/,_YY>55'_@E/^S1KO[2W[7>AZYJ,-P="\(7<>MZW?$=98Y?-MHO,_YZ27,?
M_?J*7UK]"_VH_P#@CM^SA^T?\1)/BC8:AJGA76M1N=^L2Z&T8BU`<;C)'("!
M)U_>1XS_`,M/,`KY._X*B_MW>'?^"('PN\._L7_L/^#[:/Q]XKT:ZUG5?%NN
M0&XEL(Y#);1:@\?E>5=W$LL4O_3*+[+@Q>7+&*^3PF0XKV].-=_NX;']%9_X
MO\+SR?&8K*J<X8_'J$*M]HJ,>5V?G_PY^MNHZ19:MI[:5?VL<UK)%Y<D$T>Y
M&%?+WBC_`((V?L"^*O%+>)9OA)/IY,[O+8:9K5U;V[Y[".*4"*/_`*9Q>6*_
M'G]E;]C_`/X+D?\`!67P)J_Q^L/VP/$&F^%WUN4:/+X_^(&LV5CJ<WFYE-E;
M6D4L0BBD_=DQQ11>;%Y47^JE\K!^._QF_P""W'_!%[X\:9H'Q9_:?\1ZRE[#
M%<:#-J'BRZ\2>&M7L(Y8O-ABCU#_`%,L4A\J7]U%+%G]U_K8I:^GK8;#8A?O
M(7/YZR[/,ZR-N6!KSAS[\DFOR/W;^)?_``3]_9?^*OPCM?@IK?PJL;/1].+/
MH[:7;K!+82N3F6-P,^8>3)R=^3Y@DSSU'[,G[-_A']DWX/:?\$?`&NZI?6&F
MRW$L-UK4D<EPQEE,KY,2Q]Y/2OE;X5_\%@]7_:#_`."47B/]O/X!_!&^U_X@
M^&P-'O?A_I6GWEZ+?73-;1*`D<<4EW;"*\MKHB$Y\K]V9!+')Y?Y@?#'1O\`
M@X;_`."D?QVG\)ZI\:/BKX$GNM.EN+O4?$-UJGA/P]:6T?\`RR\JTBBBEEYC
MB_=12R\^;_RREEB<,/AJ53F4-2,1GF<8K+WA:M><Z?-S<C>G-W_X)^YO[3G[
M$'P&_:ZM-+B^-7AY[Z72;XW&GW-I=-!<I&6&^'S(SQ%($P1Z8QB0"0>C_#;X
M=>$_A3X.L_`G@/P]#IFD:;:BWL+&`YCCC'2OYWOV\OV<O^"R_P#P2S^'F@?%
M3XK?\%(M;NK+Q!XE^Q64/@OXR:S)+YL<,LO[RUN_*\V+]W_RS\W_`*:U]8_\
M$Z/VQ?\`@H=_P6"_X)W_`!P_9S\-?&B#P_\`%_PA=^'AX<^*MOJ4NB22Q7=_
M)++'+)I\.8I8HK"YB\R&/$L4T49&1)-)I##TJ51U$MS&IF685\%3PM2I/V<-
M5#[*9Y7_`,%I?VW/V9/A9_P4>\5?#KQK^Q_K&LZKX8BTQ=8UG1/B1'ID>N^;
MI]I=`7-O_9=P?]5(;8^7(28H_P#OU^S'[(/CRQ^+?[*OPS^+>C>#;;PY8^)O
M`&DZM9>'X)1+'ID-U912QVJ/Y<>1&)`F?+&<=!TK^5O_`(*#_!/]I+]G3]L+
MQA\(_P!KSXM_\)U\1-+^P?V]XLEUZZU+[?YMA:RVO^DW<44LOE6LL47[W_GE
M7[4?\$$/V)O^"B/P5M_"OQW_`&A?VKQXR^$OB?X,6!\"^#/^$]UF\.CBY^P7
M5B?L-W%]FA\JUCDA_=2$1YQ&,$FLJ6'A1J3J1C\9T9AG&:9CA:&%Q5?GIT_@
M5W[OD?AW^S'XQ\56?Q?\+^!['Q')'I>O>)+"RU*T\GS?-BEEBBE_UO\`JJ_J
MC_9>_8;_`&>/V3]-N(OA-X-*7=\(SJ&L:C-Y]S<].LF.!_TSCQ'[5_)1X#\5
M7O@/QOH_CC2H(Y;S1M2BO;.&:'S8O-BE\VOUS\7?\$M_^#C+]K3P=)\9_BS^
MV3'I-_JEM]N_X5[J'Q'O]-EM3$FV.+[#I]K]ABEECBC_`.6O_+7][Y4OFU/U
M'"*K[3D]XZJO$O$,\M672Q$_8_R<WNGZJ>#O^"?'[,_@3]H>\_::\-^`%M?$
M=_+-+(T=Q)]GCGDP);B.')CCEDSU`S^\E_YZRY]\B.(\L.IP:_ER_9L_X+#?
M\%*?V"_V@T3XJ?&CQAXPM-"UJ2P\;?#GXA:]=7T4R12^5<VT<EUYLMA+%B3]
M[%_RUA'FQ21B2*7]G/\`@MQ_P5EOO^"97PA\/Z;\-O#5CJ?Q`\<3W2>'[?4#
M_HNEVMMY?G7TP'4_O8HHXR4R92?WGE>3)TTZ=*DGR(\O&9AC\PJ0GBJCGR>Z
MKN]K'L?[3/\`P3+_`&6_VJM8;Q9\0?"-Q8:[*(O-US0IO(N',?3S/^6<O_;2
M,_2O%?\`@IK\'O@Q^R=_P2]UKX-?#;0+72[&_P!8TR&Q3I)=7"WL5P9'?K))
MY<&>>?W=?EE^R7\*?^"WW_!9Z;Q9\2_"_P"V!XDM?#$-Z(=3U+Q)X_O])T2:
M_P#W4@M;>QT^*6.*012Q2YBBBQU.!+&9?/O^"CGP&_X*A?\`!/:3PI\,OVK?
MVE-;\2>&M6FEO/"'V;X@W^K:0);6*+S8OLMW_JI(HKF/_6Q?\M?W5>?BL#1G
M0J>S7OS/KN'.+<?A<SP*Q^(G/"T*D)\EW;W6?H;_`,&_G@34M8_:4\5_$.%A
M]DTGPA]AF!CQ^\N;J*6/_P!)I:_7F-(RS2[NH`(],5^+'_!#3XGCQ-^P!^T]
M\4M"\7G3?&>E^#9TDT_3I)8Y=+\K2[Z6VOX^?W0EEEE\K]YYN;63IBOSW_9F
M_P""P'_!0_X'_&'3_B(_[2OQ(^(%Q:I<V^G>%/%WC74]2TR[NKFUEMHY9;8R
M_O?+EDBDBB_YZQ5CD>$JX#`0I3.[Q6XCP/%G&N(S#"_`^7E_\!1_5P.!BBOY
MS_$_[$7_``<\_'>Z/Q,\2ZA\6+B36?\`B916MW\7[#3(K:6Y`E\O^S?M\7V4
M`8'V;RHO)Z>57]&%>P?G04444`%%%%`!7Y`?\%&+/P'IO[;^M?`_X8?&K2=)
M\=6NN^'/&GAV*;3K74XO"^O:[K_AO1OM45C*)(OM-K%;7U_^]'G>;XD\V+_G
MK7ZN^.?&_A+X6^#M7^(_CK7[;2=!T'3;G4M<U2]D\N&QM+>(RRSR>D<<:$D^
ME?R>_'+XL_&'_@IA^W[XH^+7AK2M2_X2?X@^-OM'AO3K2SEN;FPL(O*BL?W5
MI%+++]EL(HO-EBBE_P"/666@#[(^)WP9\`>)(M+^"WQIUW0+&/P'XJU3Q[\<
MM1\3:QXCEE_M2ZM8KK^ROL,LLO\`:'E112_\>M]+=76GZ5++]JL/-EEE_/?]
MI;XY:Y^T5\9-4^(U]!+;6?[JR\-Z3Y,47]EZ7:_NK"UBBM(HHHO*B\J+]U%%
M%7Z"?M.>-OV.OACXNO/V._BWH?\`PKS3[^'1KGXA:CX9T>UCOK^6_NHOM6GW
MTMI%+:Z5%812_;XK"UBNHO\`18O-NO-\V*7YW^*G_!);XFZ#H%OXQ^#OQ5T3
MQCH__"-ZSJUY=_NK+RHM,U"*UOKJ*6666*6U\J6*_BEEEB\VUE\WRJ`/F/X9
M?$?Q?\(?B7X?^+/PZU233M?\+ZO:ZKH^H10>;]ENK67S8I?WO[K_`)9?\M:_
M5[PQ_P`'=/QUT_PY9V7BO]C/PG>ZI%#_`*;=Z;XENK6VEE_Z91RQ2^5_W]EK
M\]=>_P"";_[:7A7Q1J'@[Q'\!]2TW5-+^U27D.HS6L<445K=112RRR^;Y444
M7FVTLLLO[J**ZBNI9?LLL4M>J>&_^"6G_"D[63XF_MZ^/['PMX7L-!EU&\\/
M:3K'E:QJD7E>;%%IES=Q?V7JLO\`JI?*M;Z67RO^>5`'WM\#/^#J;XB?%WXC
M6G@35?V/O!UC!=Q9N[[5_B]I^B16D7G11R3>9JOE0S$>8,6IDBEEQ_RRK]6?
MV5_C8_[1/P-T/XV16T,46L?:?+BM;R&YCQ'<R0Y$D$DL1_U7_+*66/DXEE&)
M#_,Q\2/^"A%C\//!MQ\'?V']*U+P+X3OX8I/[1TG7O$>B77_`"R\W_0?^$DO
M[7S9?*\KS?\`6_\`7+RJ_H+_`."(O_**/X(_]BC_`.W,U`'AG_!5[_@NU+_P
M2_\`VCM'^`;_`++/_"=-K'@NVU]=6_X3O^S?)\V[NK7R3%]AFSS:_P"MS_RU
M`[5_-W7ZB?\`!V?_`,I%O!?_`&1*P_\`3KK-?EW0:'5_`GXOWW[/WQP\&?'O
M3-#CU*\\$^*M+UZST^0XCNI;&ZBNHHO_`"%7]C?AWQ'HGBC2+3Q#X;U.VO;"
M]M(KBSO;2;S8KB.0`QR)(#B1"#G-?Q<U_2S_`,&Z7[:%G^U)_P`$_-%^&^NZ
MM;-XJ^$9B\+:Q8Q>5'(+"*'.F3>3$?W<7V51:^9)_K9;"8T">Q^@]%%17/W:
M"#^*3_IO_P`\OWE?UX_\/+O^"=/7_AOKX*?^'4T?_P"2J_&K_B'*_8U_Z3J?
M"W_P0V'_`,OZ/^(<K]C7_I.I\+?_``0V'_R_H`_93_AY;_P3I_Z/Z^"G_AU=
M'_\`DJOP;_X.6_#E_/\`\%"-/^-6EZ_;:[X4^(WPYT?5O"'B#3I/M%C=6WEF
M(QQ7/^JESY7G?NO^65W%_P`]:]0_XAROV-?^DZGPM_\`!#8?_+^OU+U?_@F=
M^R/^U;^PI\-_V8?C-%IOC_1_!W@?3=+\+>/=%D-O<QFVL8K8:A8S1RR^2)?*
MCE\GS)8I/+`D\T"@#\?_`/@EG_P1>T7_`(*(?LUV7Q*^'W_!3.Z\):O8W$EK
MXC^'L/@Z6YNM!)NY?*\W_B:1>;%+%%YL4OE>5_K`,F.6I?VKO^"1?[$'[+GC
M^W^%_P"U7_P7#CL?$45I]H&E3_!35-6N;&&7O)]DU"7[*/\`KK7T;\1?^#07
MP[<>(]1U#X/_`+<M]8Z5+>>9IFD^(?`<5U+:Q?\`/*6YANHO._"*.MWX+_\`
M!I!\&_#_`(OM]3_:!_:YUKQ;HT/[V?1M`\*QZ1)-+GI)<RW5U^[_`-9_JHHI
M>>)8^E`'E_PP^/?A?_@D/_P2`\9_%W]@']JN+XQMX]^+\7AS2O%FH_#FZT"+
MP[JG]E237-T+6_\`-^UR1VMM'Y>?W7FB(8E\N6*7PG]@+X.?\%!O^"Y?Q#\;
M>&_B5_P4?\5:-IFAQ0:AK,.I:[<WI,MU-+S8Z1%-#:F(21&.7_511"2/`/2O
MW(^+?_!-+]D#XT_L@P?L1:W\*[/2O`MC90IX=@T6WBCN="NHA(([ZUEE67_2
MLRRGS9?-\WS9?-\T2RB3\WE_X-'M:\-^*4\1_#O_`(*(7NDM%/)]BFM_A_+'
M=6L7_+/,D>J#S91_SU_=T`?)O_!6[_@D-^SI_P`$O/@%X7O?^&L;_P`:?%C7
M?$<,<6B3Z;#IT7]A>5-YUS]A!FER)8K:(R^;C][_`*JOJK_@SOZ?M$?7PE_[
MFJ[VW_X-0?V<G^!.I^%M=_:,\0:C\3=0N8Y++XB76DG[+8#[29I-FF1W(\PR
MQ#RC)+<DB7][%Y7,4GK7_!+#_@B5\7O^"6?QFO?&'A?]N"W\5^%/$]HMKXN\
M'R?#(V7VXQ12FVECN1JDODR122=3%)F.65>I$L8!^2/_``<4_P#*8OXP?]P'
M_P!1_2J_H4_X)J7$1_X)U?`!H#')&?@IX7_>PO\`N_\`D%6M?*7_``4\_P"#
M>+X4?\%"/CW<_M->&_CWJW@+Q9K,=O;>(_,T-=6LKU8H(K:*9(C-#)#*(HHA
MQ*8OW0/E"0^:+7_!)_\`X(/3?\$O_P!H?6/CO:_M5CQO'K/@^709](/@7^S3
M#YMU:W)F\W[?+WML>5Y>/WIYXH`_GN_9I!_X:,^'\$_^K_X3;2__`$KBK^RB
MOQF^%O\`P:57/PU^(6B?$!/V_P`7S:-K-MJ*V;?"CRA,8I?-$1(U0X&>]?LS
M0!_(=_P4U_Y2,?'S_LMGBC_TZW5?>G_!VS\+O&&F?M8_#;XY7L,?_"-ZQ\/_
M`.P;.5&R1?V5_=32Y]/W=_;?AYA_Y95[S^TO_P`&K,_[1/[1WCOX_#]O`:0/
M&_C;5=>.DGX6?:?LOVZ[EN1$)1JD0E,9EXD,8/ZU^E_[4?[*OP)_;$^$DWP:
M_:+^'EOXGT.6^BN8K>X:5)+6ZB8F.YBDB*R0RC)7<F,QR21G,<D@(!_/C_P2
M6_X)6^%?^"D7POU.'PK_`,%%YOAQXLT+5)!J7PX'AHW5U]E_=?\`$PB_XFD7
MFQ?O?*\WRO\`6Q?]<JP_^"HW_!-#P7_P3S\>^&?AQ\2OV^;CQAK&KZ?+J(M+
MKPA+'+8Q>9Y44OE?;[K_`%O[W_GE_JJ^WOB?_P`&BO@*]UR:7X&?MI:SH^D_
M9T-KIOBSP;%J5UYH[R74-U;#GT^SU\_-_P`&X'Q$\+?ML>#_`-G+5OB;K'B7
MPUJ%M:ZOXG\36/A:2PM[:R\V4W,/VGS98Q+B+RXNXDEBX\H8K'%3?)H>WD5*
M%7'-N,9<D)2][W8^G2[\CVC_`((D?!?X)_#_`/X)M_M4>/OA+^T?_P`)WJ/B
M/X:O%XITF+P5?Z;%H4MK8:T8H?M-W^[NY9(K@&7RO]5@=I8Z_-G_`()2:=;Z
MM_P4P^`]GJ$7F1#XJ:-+Y1_YZQ744L5?TV>$?V%?@E\'_P!DC6OV//V>?"=C
MX*\/:SX:OM)Q;6IN@)+JV,,EU)YLGF7,N#UDDR<`$X%?GY^R)_P:XW/[+/[4
M?@3]HX_MT_V_'X'\1VVK?V*WPR-K]O\`*E\WRO-.J2^4/<1FMHI\IY%2HJM:
M<S]=Z***#,****`"BBOS1_X+P?\`!9#XF_\`!/#3=/\`@A\"_A5J4?BOQKH<
MUSHWQ!U:R_XDU@/,DAE^S?\`/Y?Q8\WRC^ZA\VUDE\T2^50!X5_P<X_\%1M-
MT?PV_P#P38^#NJ3OJ-^+6]^*5];3CRX+0XFMM*('[S,I\J67_5_NO+B!E\Z4
M1?%W[-V@>'/^"=?[)>J?ME^./^$[_P"%@>-]-ET7P?HEI#+HEC%:W7[VUEEO
MOW5_=^;Y7VKS='E_U5K%:RW47VKRJ\[_`&%?V;[[XM:SXD_;N_:4T/QCK?PW
M\$:E_:/C#QEITVC7-U?ZSYOVK_2?[;NO*N_WLOFR_NKJ6666*+RO-NO-KS_]
MO#]KK5?VS/CQ>?$V"#Q)I'A^+]WH/ACQ#XPNM7^P?\]9?]+E_=2RR_O?*B_=
M?ZJ+_EEYLH!XW>7E]J-_)?7U])<W%U-YDUW=S>9+++_SUEEKI/A[\;/C%\))
M8S\,OB;JVB6\6I?;8;2TO)?LOVKRI8O-EB_U4O\`HLMS:_\`7*66+_52RQ5R
M]%!H>^3?\%1/VZ+S3X]*G^/VI?\`+A_I<6FVL=]YMK%]EBNHKGRO-BNOLLOV
M66Z_UMU%^ZEEEBB\JO"]8U_Q+XKUJ\\1^*M<N=2U2_O);F\U'49O-ENI99?-
MEEEE_P"6O[WS:KT4`%?U8?\`!$&ZMKG_`()1_!1K6;S$3PKLS_V]2U_*?7Z,
M_L5?\''?QT_8C_9<\)?LM>!_V=/">M:9X1LY8X-1U74[KS9?-NI;K_EE_P!=
M:#,Z;_@[/_Y2->#O^R*:7_Z>=9K\P*^A_P#@IE_P44\;_P#!3CX[:/\`'WQ_
MX`TGPW>:7X/M=!AT[1)I98I8HKJZNO-_>_\`7S_Y"KYXH-`KZ>_X)+_\%%O$
M?_!-?]JO3_C!+<:E<>#-3,.E_$#1+2<B*ZTR2;B7]Z1']IM?];$.X\V'S8O.
MKYAHH`_L\^'_`,1/`_Q1\%:7\0_`'B2QU;0M:T^'4-&U33YA)%=6TL?F12QD
M>L9S71OT_&OYI?\`@BM_P6=^,/["OBG3_P!F3Q%X1\0?$'X:>(M9\O3/!VE1
M?:=7TK5+F4_\@C_GKYLO_+A_RUES+%Y4OF_:OZ5X9A+#YVV@S/XHS_'7[7_\
M0=X_Z2'M_P"&F'_RUK\4/]=+'!//^[_Y;5^L'_#)7_!V#_T,?Q1_\/=HW_R?
M0!Z9_P`0=P_Z2'M_X:7_`.^E?IW\(M$^&/\`P3I_8L\'^`?C)\:-&M=`^'7A
MBPT>]\8ZL4TRUE,2QPI-LDEE\GS9/+Q'YDG,@YZ5^67[*?[,'_!RUH7[37PZ
MU;X^^(_B/)X(LO'>D3^,(KKXO:5=12:9'?1?:O-BBOS)+%Y/F_NHQ7T[_P`'
M#'[,7P1_:(^'7@[6?VF/^"A6F?!7P7X7EO[DZ5>>&)=6DUZ^D$40EAM(KN*6
MZEMHO-_U44DD45S-G$4LN0#:\<?\'.?_``2T\*:HFF:%XO\`&7B=3;^:]]H'
MA"6**+V(U`VTG_D.NJ^"W_!Q#_P2F^,NH6>AR?M%2^$]3OY_+AL_&.@W=C'%
M_P!=;HQ&UA_[:2BOR9_9X^)G_!O'^R7I=YX0^,O@GXF?M%ZY+>2R0^/+7PK_
M`&3816LL7_'K'8W>LQ?]-?WLL7F_O:^2?VXOB%^QW\3OCO>>*OV&?@1K?P\\
M"?8HH[31/$.NRWMS=2_O?-N_];+]D\W_`)Y>;+_JO-_Y:^50!_7GIVHZ?JEF
ME]97$<UM-#OAFBE\Q)(_4&OE3]JK_@M;_P`$Y?V0?%>H_#GXL?'ZVN_%&F6\
MKWGAGPG:2:E=PR122Q212R0YAMI@8S^ZFECD]J^"=._;D^*O[+7_``:Y?#SQ
MIX8\=ZY;>+_%=]?>#?#7B*"\F^TZ9$=8U0?NY>)(O*L+&6**2+R_)Q"8O]4*
M^$_^"'O[!7PI_P""AG[:[?"3XU:U?Q^%_#7A>Z\2ZAIVFJ8Y=9,5U:VWV0R_
MZR"+_2?WICQ+F(#J1+$`?L3X+_X.>_\`@ECXHU)]-U[QAXU\,Q!,KJ&N>#I9
MHF/IBP-S)_Y#KZ8UC_@H?^QMI7[*VI?MG6?Q[T?4OAGI2VL>H>)M">:_%G-<
MR6T<44L-K')+%+FZMLPF/S8_-&8Z^,?V[?\`@V?_`&-/B#\!;[0_V&OAU;_#
M[XE)-;OH>M:IXTU22PN$66+S8;KSC=D1&+S<>5%YGFB/)\LR`^<?\$V_^#>S
M]I?]GGQ5XQ^%_P"VCXB^'?C+X*?$3PW'IWC7P3X>\7:RDMU=6MW%?6%V,6MK
M^]BEB_UOFY_>RT`?#_\`P53_`."LOQV^(G[>7CWQ?^QE^W3\2;7X9W[:;_PC
M<'AWQAK.E6L0CTNUBNC';>9#Y1-U'+G]UW\WGS<U^R7_``27_P""G/[-?[6'
MPC^'G[-GA/X_WWBWXM>'/A)I=YX[MM1T[53<&6VM;&UOKJ6]NK8174OVJ8<B
M60R^9YN2#Q^"W_!93]G'X/?LF_\`!2KXF?`+X!>%/^$?\'Z#_8_]C:3_`&G=
M77V82Z+874A\VZEEEYEED-?L_P#L7?LI_LD?\$]/^";%I_P4X^#'P-@L?B6_
M[+4.M:[J%WXEU.XBU6631K2_EBDBEEECB$MU;19\J/M0!]-_M=?\%0/V'OV%
M=0M]$_:;^/VGZ)K-S"9[7P[:V=U>ZD\?[PQRO;6<4LD43^5*!-*(XLC&>M?)
MD_\`P=>_\$YH]2DLHOAI\798H[S[,+T>'=,\J3_IKC^T/-\OW\NOQB_9`^#7
MC_\`X*G_`/!1?PO\,OBW\1KVYUCXE^)+J]\5>)[S]Y<^5%%+=77E?]NMM+%%
M%_JHOW7_`"R_=5^_=G_P;R?\$AK7PHGA=_V4VEP>=0E\7:R;KS?*\OS?,^U>
MG;_5^U`'IO[(G_!4[]A7]N34G\)?LY_'W3-5UQ+,3S^&KR"73]2)P7E\JWNX
MXS<B//[R6'S(P1UYKN?VL?VSOV<?V%_AY9_%K]J3XC_\(OX>O]9CTFUU'^R+
MJ]$EY)%-+'%Y=K%+*28[>4YQCCZ5_,!^W[^S_>_\$T_^"C/C#X,_!7XAZP)/
MA]KUCJ/@_P`0/(8KJ+S+6UOK;S9(O^6L7F1?O8O*_P!5_P`LO]57Z4_\%N_V
MCM4_:X_X(+_`']HK6Q#_`&IXE^(6C7&KF&#RX_M\>E:S%=>7'_SS\V*7ROPH
M`^]/!?\`P6P_X)A>,/A3XN^-&@_M4:<GASP1<6,'B35-1T#4[-DFNC<FUBBB
MFM8I;N646MR_EVT<I_<R_6N"\'?\''W_``2Q\476L76H?$[Q'HNFZ.88V\0Z
MIX'OY+6[,OF^7Y7V6*64?ZJ3_6QQ=*_&7_@BC_P2ZT?_`(*<?M!ZQX4^(7BO
M5M&\#>#]$_M#Q!=Z&8_M5S)+(8[6UB\T'RN1))YICD'^B^5Y?[WS8_V*\(?\
M&Z/[#?PG^#GQ/^%GPYU;QC+)\2O!<N@75WXBUG[5'8GS8KJVNHXH8HA)+%=6
MUM+U_P"65`[L]T_93_X*M_L'?MQ_$NX^#W[+'QV/BC7K31I=5O;4>%M5LO*M
M(Y8HC*9+NUBC)\RXB'EYS\QXKV?XO_%'P1\#?AEKWQ=^)&M#3?#_`(9TBZU3
M6]3,,LOV6VAB,LDOEQ`R28Q]Q`2?KBOY3?V5/BY\2_\`@E__`,%(/#?C;QEH
MEW:ZQ\+O'$NG^-=$@:.YEEMAYMAJ<4>)O*FD\J2Y\J7_`*Y2U^N7_!T9^V]H
MWA3]C/P;^S?\/M>LM2D^+.H1:K>R6=Q%<176A6/E749CD!\S][=?998I8L^;
M%:76#0(^L_@G_P`%K/\`@FQ^TO\`%O0O@E\`_P!HBZ\1^+/$-P8-*TRT\!Z]
M$)9C"9L,\MD(HAY44DIDD.$CBD/`SCZ\K\3O^#5#]@5;:U\3_P#!0KX@^&8S
M)*)?#OPW-U:<^7D?;K^+S8>G^KM8I8I<_P#'_%)7[8T`%%%%`!7C7[87['/P
M)_;M^!FI?L^_'_PHM_HU\WG6EU;#R;W2KX!A%?V4I_U-Q'YCC.#D221R"2*6
M6.3V6B@#^2[_`(*,?L.?M4?\$U?BI>?LR_%3Q)J]]X+U34I=6\'ZM:>;%H_B
M.+_5?:HXO-\J&ZB_=12Q?ZV+]U_K8I8I9?G"OZ^/VR/V,O@9^WI\#=6_9\_:
M!T"._P!'U`BXT^^MAY-_HNHQ`B*_LI<9BFC\Q_FY!$DD4@DBEDB/\Q7_``4*
M_P""<?Q]_P""=7[0G_"D?B7I4FK:?JDTLG@3Q5I]I+]F\3V/F_ZR/'_+U^]B
M\VU_Y92_\]8I8I90M.Y\^5[3^RM_P3E_;=_;4A>__9H_9S\0>)-+C>11X@58
M[+3"8_*\V+[==2Q6OF_O?]5YOF_],J_6C_@D=_P;?^!_!GA_3OC_`/\`!1'P
MI;:_XCN_*N=(^&%Z#)8:6,^9_IW_`#]R_P#3K_J8@98Y/.\S$7Z]Z1I-CH&F
MP:7I5G#;6UM"D<%M:P>7%&@Z(B#ITH"Z/PA^"?\`P:4_M/Z\]Q+\?OVIO!7A
M(<?8D\,:9=:Y++G_`%OF^;]@\G_MG++7KGA+_@T)^&=K9NWCK]MS7=0N9?\`
MEII7@B*RC'_;.6[EK]EJ*"#\>-1_X-#_`($W%L18?MD>+8K@?ZN67PW:R1?]
M^_-KSSQK_P`&A7CBST&\O_`7[=NFZCK&/^)=::M\-Y;*VE[_`+R2&_E\K\(J
M_<JB@#^7C]I7_@WN_P""GW[-5L^M?\*9MO'^F6T,4DNJ_#/4O[1/FRR^7Y/V
M7RHK^7_ME:^57Q5>0SV=U)8SCRI(IO+FBE_UL4M?VN5\?_\`!1/_`((^?L@?
M\%(=`N-5\<>%D\.>/8K8PZ+\1M#LP+^"4<1_:0<?;X1Q^ZEY$9E$4L/F^;0!
M_*_5SPWX;USQ?KVG^%?"NB7VI:IJEY%9:;I^G6<LLMU+++Y44447_+667_EE
M%_RUKUC]K7]A#]I7]C+]IJ3]E?XL^`YKGQ+=31_\(V-#@EN8_$45S+Y5M+8_
M\M9?-E_=11?ZWS?W7E>;7[C_`/!#O_@B)HO[#OANT_:5_:4T:#4_C+K%FY@M
MI6%Q#X/CEC\J6&(Y\N6^DBQ'-=XZ9AAS'YLMT&A+_P`$/_\`@A[HG["FBV?[
M1W[1NBV>K?%[4K20VT!G%S#X2BFB,4L,4F?+ENY(L1S748Q@^5%^Z\V6Y_3"
MBFR1B08-!F?Q0_\`3Q^M?VP5P;?LV?L\H\<L/P'\%1O&=^5\+VG_`,:KO*`"
MOP!_X.ROAU\:$_:Q\"?%J^\-:F_@&3P!%I6GZV5E%C'JD=U?S7-M_K?W4IA\
MJ7CRO-BB/^M\FOW^K$\3^%O#OCC0KOPIXO\`#UEJ^EW\$D%_IVH6<=Q;7,?_
M`#SECDR)![8Q0!_/C_P2L_X*C?\`!)']C/\`9QTKPO\`M"?L):EK?Q/TS4KV
MYN_&^G>"]'U:66*2;_1O+NM0NHI8O*B\J+RHOW7[KS?];++7S9_P5S_;-^+/
M[>_[3FG_`+27CWX0ZEX,T/4/!UK;_#NQU"RE$EUH44LLL5V)/*B^U"6ZDN?W
ML7[K_EE_RRK^E#P__P`$\/V!O#'B&Q\5>$_V(?A'I>IZ=<?:-/U'3_AMI<4U
MK-_STBDC@'EO[BO1?&'PK^&GQ`>VG\>?#O0=:EM(]EH^KZ1#<^7GLGF@XH`_
M(;]F+]D[3/\`@I!_P;1^'_V;_A+K^AZK\0O!.IZIJND:1%JT9EL=8BUG4)8[
M6Y_>CR);FQN9(HC+Y8_TJ*7B*OSE_P""?7[8_P`6?^"/'[9^H?$7QI\#;VYO
M(M'NO#GB_P`$^((9=-OQ:RBUNO*'FQ?N9?-CMI?WL7^J_P"NOFU_4QX+^&WP
M_P#A]!<6_@+P+I&B1W)WS1:3IT5L)#Z_NL5@_%[]F3]G3]H**R'Q[^`/@GQN
M=-WG3F\8^%+34OLI/>/[5%)Y?X4`?C-_P4'_`.#HVT^,GP2E^%G["OPY\8>"
M?$&J_99+SQKK][;6UQI9BFCE\JVBM99?-\[R_*\V62+]UYO[HU[O_P`&_L__
M``50^-_BG5/VF_VS_CIXSO/AVV@&#P5HGB%?*.OR3&&2/48H\<VOE;_+E_Y:
M^:/+_P!5)7WWX/\`^"?_`.PMX`\36'C;X??L8?";0M9TN8RZ=JVB_#C2[:YM
M)L?ZR*2*$&-_<5[/0!_,!_P<9>$?%'AW_@KI\3-;\0^';ZRLM>M="OM(FNXO
M+BO[:/1K"V,L4O\`RUB\ZVEB]I8I:_33_@E#_P`%$/V</^"E7[*%M_P2>7P5
MXVT/7=&_9W_L'Q9JWE6HL9-/BM+71Y9K&Y\PR^;FYBEC\VV'!_/])/B3\*_A
MK\7O#4O@[XJ?#O0O%&D3*/.TGQ%I$5[;2_6.8&//X5S'PF_9%_97_9]U6?Q!
M\!?V:?AYX*U"ZM_L]WJ'A/P38:;++$.?+>2VBC)0<<&@#^8?QO\`!_\`;;_X
M(I?MJ:'XX\5>#Y=&\0>$]=EN?!_B*2&672/$]K%^ZE\J6+RO-BEM9?*EB\V*
M6**Z_>^5+7ZBV/\`P=R_L\2_"D:G-^R#XVB\9R_ZG0QXCM9-+_\`!E_K?_)6
MOUA\:^!/!GQ&\,W7@[XA^$M.\0:1?0^5J&E:WIT5S:W,9[2Q2@QR?E7EW_#L
MS_@G1MQ_PP'\$_\`PU6C?_(M`'\U]KX+_;(_X+<?MY:QXL\+>"8M1\5^-M8B
MDUZ[M+.6+3/#EK%%%%%+<R?\LK6*UBBB_>_O9?*_Y:RR^5+^FW_!P_\`L_\`
MA;]E3_@C%\&?V=_!TXN=.\(?$71-+%TUKY;7TL>BZKYMW+&#CS)9?,ED_P"N
MIK]:O`GPZ\"?"WPE:^"OAKX'TGPUHMC`4L]%T'38K.UMAZ1Q1`1Q_@*=XO\`
M`G@[X@:8FB^-O".F:W;)()!::OIL5Q$)/^>GER?C0!^*/_!H#_R47XZ?]@'0
M/_1U_7[FUSG@_P"&7PZ\`/<2^!/`.B:(UV?]+&D:1%;>:?\`;\L#-='0!^"O
M_!U+^PB?`7Q,\.?M^>`=%8Z=XP6+0?&VPDI%JEM%_H%V<RYS+:Q>5^[B\N+^
MSXL\RU^=O@D_M-?\%&/CO\*_V>Y?%$OB#Q!_9NE^`O!/VNS_`'>EZ7:RR^5Y
MOV6+S?LMK%+++++^]_=12U]>_P#!33_@OY\<_P!O#X1:Y^Q?H_P!T7PMH>J:
MO';:Q=6E]+J5]?\`V:[BFMHK8>5%Y1\Z.+_EE+7UC_P;2_\`!*3QO\&;O5/V
M\?VHOA3J'AWQ%J%M+I/PX\.^*-%%O?:?;R<WNHRQ31^;:2R$?98L>4?*^T_Z
MV*ZB-`'UPO[1OPB_X)L>(-!_83\"_"C7=8\/>#_AOX3A\.:3X=T^Q34]3O\`
M5];ET>VWRRW5K:^;-=1>;++)Y7[V620R?O,5W_[-_P#P4:^&W[5?CJP\%_#;
MX-?$:"UOO"5AK3>)M2T*(:7I\UWI>GZG#IES+#+*8;K[+J=M)B2,0G][Y4LG
MEFN[^('[)'[/WQ4^*7_"ZO'GP[.I^)88=%MHM0_M:[C$<>F:H=4L1Y<4OECR
MKJ3S3Q^]Z29CXKD_`W_!-+]D+X>>*QXW\"?#K5='UF+PB/#FGZA9>,=4CET^
MP_L^TTS-L_VH^3<_8;&QA^U1XF_T6/\`>\4`?1%%%%`!1110`5QOQ&^$_P`/
MOBH^AR?$/P%HNN2^&O$$.M^'I=:TF&Z.F:E#D17=L91^ZN8_,?RY0,C-=E10
M`4444`%%%%`!1110`4444`<7XJ^$/PT\<>._#OQ/\2>`=&U#Q'X0:Y/A37]0
MTJ*XNM+^TQ^3=?9I3^\A\V/]W)C&1]*[2BB@`HHHH`****`"BBB@`HHHH`**
E**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`__V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
