<SEC-DOCUMENT>0001851734-22-000118.txt : 20220225
<SEC-HEADER>0001851734-22-000118.hdr.sgml : 20220225
<ACCEPTANCE-DATETIME>20220225160003
ACCESSION NUMBER:		0001851734-22-000118
CONFORMED SUBMISSION TYPE:	S-3/A
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20220225
DATE AS OF CHANGE:		20220225

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRIO-TECH INTERNATIONAL
		CENTRAL INDEX KEY:			0000732026
		STANDARD INDUSTRIAL CLASSIFICATION:	SPECIAL INDUSTRY MACHINERY, NEC [3559]
		IRS NUMBER:				952086631
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		S-3/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-261485
		FILM NUMBER:		22679696

	BUSINESS ADDRESS:	
		STREET 1:		16139 WYANDOTTE ST.
		CITY:			VAN NUYS
		STATE:			CA
		ZIP:			91406
		BUSINESS PHONE:		818-787-7000

	MAIL ADDRESS:	
		STREET 1:		16139 WYANDOTTE ST.
		CITY:			VAN NUYS
		STATE:			CA
		ZIP:			91406

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRIO TECH INTERNATIONAL
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3/A
<SEQUENCE>1
<FILENAME>trt20220224_s3a.htm
<DESCRIPTION>FORM S-3/A
<TEXT>
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	<title>trt20220224_s3a.htm</title>
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<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 8pt;"><b>As filed with the Securities and Exchange Commission on February 25, 2022 </b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;"><b>Registration No. 333-261485</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>UNITED STATES</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Washington, D.C. 20549</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"> <b>AMENDMENT NO. 2</b> </p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>TO</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>FORM S-3</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">REGISTRATION STATEMENT</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">UNDER THE SECURITIES ACT OF 1933</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>TRIO-TECH INTERNATIONAL</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Exact Name of Registrant as Specified in its Charter)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:top;width:24.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><u>California</u></b></p>
			</td>
			<td style="vertical-align:top;width:2.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:26.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><u>95-2086631</u></b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:24.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(State or other jurisdiction of</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">incorporation or organization)</p>
			</td>
			<td style="vertical-align:top;width:2.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:26.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(I.R.S. Employer</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Identification Number)</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:24.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:2.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:26.7%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:bottom;width:24.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Trio-Tech International</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Block 1008 Toa Payoh North</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Unit 03-09 Singapore 318996</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><u>(65) 6265 3300</u></b></p>
			</td>
			<td style="vertical-align:bottom;width:2.1%;">&nbsp;</td>
			<td style="vertical-align:bottom;width:26.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Victor H.M. Ting</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Vice President and Chief Financial Officer</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Trio-Tech International</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Block 1008 Toa Payoh North</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Unit 03-09 Singapore 318996</b></p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><u>(65) 6265 3300</u></b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:24.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Address, including zip code, and telephone number,</p>

			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">including area code of Registrant&#8217;s principal executive offices),</p>
			</td>
			<td style="vertical-align:top;width:2.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:26.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Name, address, including zip code, and telephone number, including area code, of agent for service)</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><u>From time to time after the effective date of this Registration Statement</u></b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(Approximate date of commencement of proposed sale to public)</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Copies of all communications, including all communications sent to the agent for service, should be sent to:</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Victor H.M. Ting</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Vice President and Chief Financial Officer</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Trio-Tech International</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Block 1008 Toa Payoh North</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Unit 03-09 Singapore 318996</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(65) 6265 3300</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Daniel W. Rumsey, Esq.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Jessica R. Sudweeks, Esq.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Disclosure Law Group,</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">a Professional Corporation</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">655 West Broadway, Suite 870</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">San Diego, California 92101</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Tel: (619) 272-7050</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Fax: (619) 330-2101</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If the only securities being registered on this form are being offered pursuant to dividend or interest reinvestment plans, please check the following box.&nbsp;&#9744;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415 of the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box.&nbsp;&#9746;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If this form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&#9744;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If this form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If this form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, please check the following box.&nbsp;&#9744;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, please check the following box.&nbsp;&#9744;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and&nbsp;&#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:top;width:14.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Large accelerated filer</p>
			</td>
			<td style="vertical-align:top;width:3.1%;">&#9744;</td>
			<td style="vertical-align:top;width:4.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:15.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Accelerated filer</p>
			</td>
			<td style="vertical-align:top;width:15.9%;">&#9744;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:14.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Non-accelerated filer</p>
			</td>
			<td style="vertical-align:top;width:3.1%;">&#9744;</td>
			<td style="vertical-align:top;width:4.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:15.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Smaller reporting company</p>
			</td>
			<td style="vertical-align:top;width:15.9%;">&#9746;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:14.4%;">&nbsp;</td>
			<td style="vertical-align:top;width:3.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:4.1%;">&nbsp;</td>
			<td style="vertical-align:top;width:15.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Emerging growth company</p>
			</td>
			<td style="vertical-align:top;width:15.9%;">&#9744;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided Section 7(a)(2)(B) of the Securities Act. &#9744;</p>

<p>&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>The Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the Commission, acting pursuant to said section 8(a), may determine.</b></p>

<p>&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

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<div class="TOCLink hf-cell" style="width: 100%; display: inline-block; text-align: left;"><a href="#toc" style="font-weight: initial; font-style: initial; font-variant: initial; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;">Table of Contents</a></div>
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</div>
</div>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt 0pt 0pt 8pt;"> <b>EXPLANATORY NOTE</b> </p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"> Trio-Tech International (the &#8220;<i>Company</i>&#8221;) is filing this Amendment No. 2 to our Registration Statement on Form S-3 (File No. 333-261485) for the sole purpose of filing Exhibits 5.1, 23.1 and 107 with the Securities and Exchange Commission. This Amendment No. 2 does not modify any provision of the Prospectus that forms a part of the Registration Statement and accordingly such Prospectus has not been included herein. </p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>PART II</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>INFORMATION NOT REQUIRED IN PROSPECTUS</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p><b>ITEM 16. </b>&nbsp;<b>EXHIBITS</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">1.1*</p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Form of Underwriting Agreement</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">1.2*</p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Form of Placement Agent Agreement</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">4.1*</p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Form of indenture for senior debt securities</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">4.2*</p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Form of indenture for subordinated debt securities</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">4.3*</p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Form of senior note</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">4.4*</p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Form of subordinated note</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">4.5*</p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Form of any warrant agreement with respect to each particular series of warrants issued hereunder</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">4.6*</p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Form of any warrant agency agreement with respect to each particular series of warrants issued hereunder</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">4.7*</p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Form of any unit agreement with respect to any unit issued hereunder</p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="ex_339742.htm" style="-sec-extract:exhibit;"> 5.1 </a></p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> Opinion of Disclosure Law Group, a Professional Corporation, filed herewith </p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="ex_339742.htm" style="-sec-extract:exhibit;"> 23.1 </a></p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> Consent of Disclosure Law Group, a Professional Corporation, included in Exhibit 5.1 </p>
			</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="http://www.sec.gov/Archives/edgar/data/732026/000185173422000065/ex_332042.htm" style="-sec-extract:exhibit;">23.2</a> ** </p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Consent of Independent Registered Public Accounting Firm &#8211;&nbsp;Mazars LLP</p>
			</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="vertical-align:top;width:5.3%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><a href="http://www.sec.gov/Archives/edgar/data/732026/000185173421000133/trt20211112_s3.htm" style="-sec-extract:exhibit;">24</a></p>
			</td>
			<td style="vertical-align:bottom;width:48.1%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Power of Attorney (located on signature page of the Registration Statement on Form S-3, filed December 3, 2021)</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:5.3%;"><a href="ex_339743.htm" style="-sec-extract:exhibit;">107</a></td>
			<td style="vertical-align:bottom;width:48.1%;">Filing Fee Table</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">*</p>
			</td>
			<td style="vertical-align:top;width:50.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">To be filed, if necessary, by an amendment to this registration statement or incorporation by reference pursuant to a Current Report on Form&nbsp;8-K in connection with an offering of securities.</p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:top;width:2.6%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> ** </p>
			</td>
			<td style="vertical-align:top;width:50.9%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"> Previously filed as an exhibit to Amendment No. 1 to the Company&#8217;s Registration Statement on Form S-3, filed on February 8, 2022. </p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGNUM" data-number="32" data-prefix="-" data-suffix="-" style="width: 100%; text-align: center; font-size: 10pt; font-family: Times New Roman;">-32-</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="TOCLink hf-cell" style="width: 100%; display: inline-block; text-align: left;"><a href="#toc" style="font-weight: initial; font-style: initial; font-variant: initial; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;">Table of Contents</a></div>
</div>
</div>
</div>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><a id="SIGNATURES" name="SIGNATURES" title="SIGNATURES"></a>SIGNATURES</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Country of Singapore on February 25, 2022.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:top;width:24%;">&nbsp;</td>
			<td colspan="3" style="vertical-align:top;width:29.4%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>TRIO-TECH INTERNATIONAL</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:24%;">&nbsp;</td>
			<td style="vertical-align:top;width:2.7%;">&nbsp;</td>
			<td colspan="2" style="vertical-align:top;width:26.7%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:24%;">&nbsp;</td>
			<td style="vertical-align:top;width:2.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">By:</p>
			</td>
			<td style="border-bottom:solid 1px #000000;vertical-align:top;width:17.5%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">/s/ S. W. Yong</p>
			</td>
			<td style="vertical-align:top;width:9.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:24%;">&nbsp;</td>
			<td style="vertical-align:top;width:2.7%;">&nbsp;</td>
			<td colspan="2" style="vertical-align:top;width:26.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">S. W. Yong</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:24%;">&nbsp;</td>
			<td style="vertical-align:top;width:2.7%;">&nbsp;</td>
			<td colspan="2" style="vertical-align:top;width:26.7%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">President and Chief Executive Officer</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

		<tr>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Name</b></p>
			</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Position</b></p>
			</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Date</b></p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><u>/s/ *</u></p>
			</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">President and Chief Executive Officer</p>
			</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">February 25, 2022</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">S.W. Yong</p>
			</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>(Principal Executive Officer)</i></p>
			</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><u>/s/ *</u></p>
			</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Vice President and Chief Financial Officer</p>
			</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">February 25, 2022</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Victor H. M. Ting</p>
			</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>(Principal Financial Officer)</i></p>
			</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><u>/s/ *</u></p>
			</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Chairman of the Board</p>
			</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">February 25, 2022</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">A. Charles Wilson</p>
			</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><u>/s/ *</u></p>
			</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Director</p>
			</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">February 25, 2022</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Jason T. Adelman</p>
			</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><u>/s/ *</u></p>
			</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Director</p>
			</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">February 25, 2022</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:12.2%;">
			<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Richard M. Horowitz</p>
			</td>
			<td style="vertical-align:top;width:0.9%;">&nbsp;</td>
			<td style="vertical-align:top;width:23.2%;">&nbsp;</td>
			<td style="vertical-align:top;width:1.6%;">&nbsp;</td>
			<td style="vertical-align:top;width:12.2%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">By:&nbsp; <u>/s/ S.W. Yong</u></p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">* Attorney-in-fact</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div class="LAST-PAGE-BREAK">
<div class="PGFTR">
<div class="hf-row">
<div class="hf-cell PGNUM" data-number="35" data-prefix="-" data-suffix="-" style="text-align: center; font-size: 10pt; font-family: Times New Roman;">-35-</div>
</div>
</div>
</div>


</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>ex_339742.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<html><head>
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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: right; margin: 0pt;"><b>Exhibit 5.1</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<div style="text-align: center;"><img alt="dlg_header.jpg" src="dlg_header.jpg"></div>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">February 25, 2022</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Trio-Tech International</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Block 1008 Toa Payoh North</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">Unit 03-09 Singapore 318996</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">Re:&nbsp;&nbsp;&nbsp;&nbsp;Registration Statement on Form S-3</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">Ladies and Gentlemen:</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 18pt;">We are acting as counsel for Trio-Tech International, a California corporation (the &#8220;<i>Company</i>&#8221;), in connection with the filing of a Registration Statement on&nbsp;Form&nbsp;S-3&nbsp;relating to the registration under the Securities Act of 1933 (the &#8220;<i>Act</i>&#8221;) of&nbsp;the following securities of the Company having an aggregate initial public offering price of up to $10,000,000: (i)&nbsp;shares (the &#8220;<i>Company Shares</i>&#8221;) of common stock, no par value (&#8220;<i>Common Stock</i>&#8221;), (ii)&nbsp;warrants to purchase Common Stock (&#8220;<i>Warrants</i>&#8221;), (iii) convertible and non-convertible debt securities (the "<i>Debt Securities</i>"); and (iv) units consisting of two or more of the Securities (as defined below) (&#8220;<i>Units</i>&#8221;).&nbsp; The Company Shares, Warrants, Debt Securities and Units are collectively referred to herein as the &#8220;<i>Securities</i>.&#8221; The Securities shall include any additional amounts of such securities the offer and sale of which are registered pursuant to a registration statement filed pursuant to Rule 462(b) under the Act in connection with one or more offerings contemplated by such Registration Statement. Such Registration Statement, as amended, and including any registration statement related thereto and filed pursuant to Rule 462(b) under the Act, is herein referred to as the &#8220;<i>Registration Statement</i>.&#8221;</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 18pt;">The Securities may be offered and sold from time to time by the Company as set forth in the Registration Statement, the prospectus contained within the Registration Statement (the &#8220;<i>Prospectus</i>&#8221;), and supplements to the Prospectus (each, a &#8220;<i>Prospectus Supplement</i>&#8221;). The Warrants may be issued under one or more warrant agreements (each, a &#8220;<i>Warrant Agreement</i>&#8221;) by and between the Company and a bank or trust company to be identified therein as warrant agent. The Debt Securities may be issued under one or more indentures (each, an "<i>Indenture</i>"). The Units may be issued under one or more unit agreements (each, a &#8220;<i>Unit Agreement</i>&#8221;) between the Company and a third party to be identified therein as unit agent. Each Warrant Agreement, each Indenture, and each Unit Agreement are herein collectively called the &#8220;<i>Agreements</i>.&#8221;</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 18pt;">We have reviewed the Registration Statement and such other agreements, documents, records, certificates and other materials, and have reviewed and are familiar with such corporate proceedings and satisfied ourselves as to such other matters, as we have considered relevant or necessary as a basis for this opinion. In such review, we have assumed the accuracy and completeness of all agreements, documents, records, certificates and other materials submitted to us, the conformity with the originals of all such materials submitted to us as copies (whether or not certified and including facsimiles), the authenticity of the originals of such materials and all materials submitted to us as originals, the genuineness of all signatures and the legal capacity of all natural persons.</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 18pt;">On the basis of the assumptions and subject to the qualifications and limitations set forth herein, we are of the opinion that:</p>

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			<p style="font-family: Times New Roman;font-size: 10pt;font-variant:normal;margin:0pt;">1.</p>
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			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">When an issuance of Common Stock has been duly authorized by all necessary corporate action of the Company, upon issuance, delivery and payment therefor in an amount not less than the par value thereof in the manner contemplated by the Registration Statement and/or the Prospectus and related Prospectus Supplement(s) and by such corporate action, such shares of Common Stock will be validly issued, fully paid and nonassessable.</p>
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			<p style="font-family: Times New Roman;font-size: 10pt;font-variant:normal;margin:0pt;">2.</p>
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			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">When a Warrant Agreement has been duly authorized by all necessary corporate action of the Company and duly executed and delivered, and when the specific terms of a particular issuance of Warrants have been duly established in accordance with such Warrant Agreement and authorized by all necessary corporate action of the Company, and the Warrants have been duly executed, authenticated, issued and delivered against payment therefor in accordance with such Warrant Agreement and in the manner contemplated by the Registration Statement and/or the Prospectus and related Prospectus Supplement(s) and by such corporate action (assuming the securities issuable upon exercise of the Warrants have been duly authorized and reserved for issuance by all necessary corporate action), the Warrants will be legally valid and binding obligations of the Company, enforceable against the Company in accordance with their terms.</p>
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			<p style="font-family: Times New Roman;font-size: 10pt;font-variant:normal;margin:0pt;">3.</p>
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			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">When an Indenture has been duly authorized by all necessary corporate action of the Company and duly executed and delivered, and when the specific terms of a particular issuance of Debt Securities have been duly established in accordance with such Indenture and authorized by all necessary corporate action of the Company, and the Debt Securities have been duly executed, authenticated, issued and delivered against payment therefor in accordance with such Indenture and in the manner contemplated by the Registration Statement and/or the Prospectus and related Prospectus Supplement(s) and by such corporate action (assuming the securities issuable upon exercise of the Debt Securities, if convertible, have been duly authorized and reserved for issuance by all necessary corporate action), the Debt Securities will be legally valid and binding obligations of the Company, enforceable against the Company in accordance with their terms</p>
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			<p style="font-family: Times New Roman;font-size: 10pt;font-variant:normal;margin:0pt;">4.</p>
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			<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;">When a Unit Agreement has been duly authorized by all necessary corporate action of the Company and duly executed and delivered, and when the specific terms of a particular issuance of Units have been duly established in accordance with such Unit Agreement and authorized by all necessary corporate action of the Company, and the Units have been duly executed, authenticated, issued and delivered against payment therefor in accordance with such Unit Agreement and in the manner contemplated by the Registration Statement and/or the Prospectus and related Prospectus Supplement(s) and by such corporate action (assuming the constituent securities of the Units have been duly authorized and reserved for issuance by all necessary corporate action), the Units will be legally valid and binding obligations of the Company, enforceable against the Company in accordance with their terms.</p>
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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 18pt;">Our opinions set forth above are subject to and limited by the effect of (a) applicable bankruptcy, insolvency, fraudulent conveyance, fraudulent transfer, receivership, conservatorship, arrangement, moratorium and other laws affecting and relating to the rights of creditors generally, (b) general equitable principles and (c) general principles of equity, including without limitation concepts of materiality, reasonableness, good faith and fair dealing, and the possible unavailability of specific performance or injunctive relief and limitation of rights of acceleration, regardless of whether such enforceability is considered in a proceeding in equity or at law.</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 18pt;">In connection with the opinions expressed above, we have assumed that at or prior to the time of the delivery of any of the Securities (a) the Registration Statement, and any amendments thereto (including post-effective amendments), will have been declared effective under the Act and a Prospectus Supplement relating to the offer and sale of such Securities to the Prospectus will have been prepared and filed with the Securities and Exchange Commission (the &#8220;<i>Commission</i>&#8221;) pursuant to Rule 424(b) under the Act, (b) the Board shall not have rescinded or otherwise modified the authorization of such Securities, (c) that a definitive purchase, underwriting or similar agreement, including any Agreements, with respect to any Securities offered will have been duly authorized and validly executed and delivered by the Company and the other parties thereto, (d) that any Securities issuable upon conversion, exchange, redemption or exercise of any Securities being offered will be duly authorized, created and, if appropriate, reserved for issuance upon such conversion, exchange, redemption or exercise, and (e) neither the establishment of any terms of such Securities after the date hereof nor the issuance and delivery of, or the performance of the Company&#8217;s obligations under, such Securities will require any authorization, consent, approval or license of or exemption from, or registration or filing with, or report or notice to, any governmental unit, agency, commission, department or other authority (a &#8220;<i>Governmental Approval</i>&#8221;) or violate or conflict with, result in a breach of, or constitute a default under, (i) any agreement or instrument to which the Company or any of its affiliates is a party or by which the Company or any of its affiliates or any of their respective properties may be bound, (ii) any Governmental Approval that may be applicable to the Company or any of its affiliates or any of their respective properties, (iii) any order, decision, judgment or decree that may be applicable to the Company or any of its affiliates or any of their respective properties, or (iv) any applicable law (other than the California General Corporation Law and the and the federal laws of the United States in each case as in effect on the date hereof).</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 18pt;">The opinions set forth in this letter are limited to the California General Corporation Law and the federal laws of the United States, in each case as in effect on the date hereof.</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 18pt;">We hereby consent to the filing of this opinion letter as Exhibit 5.1 to the Registration Statement and to the use of our name under the caption &#8220;Legal Matters&#8221; in the Registration Statement and in the Prospectus forming a part thereof and any supplement thereto. In giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission promulgated thereunder.</p>

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<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">Very truly yours,</p>

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<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><u>/s/ Disclosure Law Group</u></p>

<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;">Disclosure Law Group, a Professional Corporation</p>

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<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>3
<FILENAME>ex_339743.htm
<DESCRIPTION>EXHIBIT FILING FEES
<TEXT>
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<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: right; margin: 0pt 0pt 0pt 8pt;"><b>Exhibit 107</b></p>

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<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;"><b>Calculation of Filing Fee Tables</b></p>

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<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt 0pt 0pt 8pt;"><b>Form</b>&nbsp;<b>S-3</b></p>

<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt 0pt 0pt 8pt;">(Form Type)</p>

<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt 0pt 0pt 8pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt 0pt 0pt 8pt;"><b>Trio-Tech International</b></p>

<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt 0pt 0pt 8pt;">(Exact Name of Registrant as Specified in its Charter)</p>

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<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt 0pt 0pt 8pt;"><b><u>Table 1: Newly Registered and Carry Forward Securities </u></b></p>

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			<td style="vertical-align: middle; width: 12%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: middle; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Security</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Type</b></p>
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			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Security</b><br>
			<b>Class</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Title</b></p>
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			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Fee</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Calculation</b><br>
			<b>or Carry</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Forward</b><br>
			<b>Rule</b></p>
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			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Amount</b><br>
			<b>Registered (1)</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Proposed</b><br>
			<b>Maximum</b><br>
			<b>Offering</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Price</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Per Unit (1)</b></p>
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			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Maximum</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Aggregate</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Offering</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Price(2)</b></p>
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			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Fee Rate</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 8%; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Amount</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>of</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Registration</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Fee(3)</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Carry</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Forward</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Form</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Type</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Carry</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Forward</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>File</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Number</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Carry</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Forward</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Initial</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>effective</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>date</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Filing</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Fee</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Previously</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Paid In</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Connection</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>with</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Unsold</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Securities</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>to be</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Carried</b></p>

			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Forward</b></p>
			</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td colspan="24" style="vertical-align: middle; width: 94%; font-size: 8pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td colspan="24" style="vertical-align: middle; width: 94%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Newly Registered Securities</b></p>
			</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; margin: 0pt;"><b>Fees to Be Paid</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; text-align: center; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; text-align: center; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 8%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;"><b>Fees Previously Paid</b></td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">Equity</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt; text-align: center;">Common Stock, no par value</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 8%; font-size: 8pt; text-align: right;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">Other</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt; text-align: center;">Warrants</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 8%; font-size: 8pt; text-align: right;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">Debt</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt; text-align: center;">Debt Securities</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 8%; font-size: 8pt; text-align: right;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">Other</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt; text-align: center;">Units(4)</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: right;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 8%; font-size: 8pt; text-align: right;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; margin: 0pt;">&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">Unallocated (Universal Shelf)</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt; text-align: center;">&#8211;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">457(o)</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">(1)</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">(1)</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">$10,000,000</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">$92.70 per million</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 8%; font-size: 8pt; text-align: center;">$927.00</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td colspan="24" style="vertical-align: middle; width: 94%; font-size: 8pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td colspan="24" style="vertical-align: bottom; width: 94%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Carry Forward Securities</b></p>
			</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; margin: 0pt;"><b>Carry Forward Securities</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">N/A</p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">N/A</p>
			</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">N/A</p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">N/A</p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">N/A</p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">N/A</p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">N/A</p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 8%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">N/A</p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">N/A</p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">N/A</p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">N/A</p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;">N/A</p>
			</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td colspan="6" style="vertical-align: bottom; width: 26%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Total Offering Amounts</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt; text-align: center;">$10,000,000</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 8%; font-size: 8pt; text-align: center;">$927.00</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td colspan="6" style="vertical-align: bottom; width: 26%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Total Fees Previously Paid</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 8%; font-size: 8pt; text-align: center;">$927.00</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td colspan="6" style="vertical-align: bottom; width: 26%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Total Fee Offsets</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 8%; font-size: 8pt; text-align: center;">&#8211;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td style="vertical-align: bottom; width: 12%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td colspan="6" style="vertical-align: bottom; width: 26%; font-size: 8pt;">
			<p style="font-family: Times New Roman; font-size: 8pt; font-variant: normal; text-align: center; margin: 0pt;"><b>Net Fee Due</b></p>
			</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 8%; font-size: 8pt; text-align: center;">$0.00</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 5%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 1%; font-size: 8pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 6%; font-size: 8pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 8pt;">
			<td colspan="24" style="vertical-align: middle; width: 94%; font-size: 8pt;">&nbsp;</td>
		</tr>

</table>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-align: justify; text-indent: -18pt;">(1)&nbsp; There are being registered hereunder such indeterminate number of shares of common stock, such indeterminate principal amount of debt securities and such indeterminate number of warrants and units as shall have an aggregate offering price not to exceed $10.0 million. If any debt securities are issued at an original issue discount, then the principal amount of such debt securities shall be in such greater amount as shall result in an aggregate offering price not to exceed $10.0 million, less the aggregate dollar amount of all securities previously issued hereunder. Any securities registered hereunder may be sold separately or as units with other securities registered hereunder. The securities registered also include such indeterminate number of shares of common stock and amount of debt securities as may be issued upon exchange for debt securities, upon exercise of warrants or pursuant to the anti-dilution provisions of any such securities. In addition, pursuant to Rule 416 under the Securities Act of 1933, as amended (the &#8220;<i>Securities Act</i>&#8221;), the securities being registered hereunder include such indeterminate number of shares of common stock as may be issuable with respect to the securities being registered hereunder as a result of stock splits, stock dividends or similar transactions.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-align: justify; text-indent: -18pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-align: justify; text-indent: -18pt;">(2)&nbsp; The proposed maximum aggregate offering price per class of security will be determined from time to time by the Registrant in connection with the issuance by the Registrant of the securities registered hereunder and is not specified as to each class of security.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-align: justify; text-indent: -18pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-align: justify; text-indent: -18pt;">(3)&nbsp; The registration fee has been calculated in accordance with Rule 457(o) under the Securities Act.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-align: justify; text-indent: -18pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-align: justify; text-indent: -18pt;">(4)&nbsp; Any securities registered under the registration statement may be sold separately or as units with other securities registered under the registration statement.</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt 0pt 0pt 18pt; text-align: justify; text-indent: -18pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt 0pt 0pt 8pt;"><b><u>Table 2: Fee Offset Claims and Sources </u></b></p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family: Times New Roman; font-size: 9pt; width: 100%; margin-left: auto; margin-right: auto;">

		<tr style="font-size: 9pt;">
			<td style="vertical-align: middle; width: 11.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: middle; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 72.2167px; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Registrant</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">or Filer</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Name</p>
			</td>
			<td style="vertical-align: bottom; width: 1px; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 3%; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Form</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">or</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Filing</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Type</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 3%; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">File</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Number</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 3%; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Initial</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Filing</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Date</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 3%; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Filing</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Date</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 3%; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Fee</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Offset</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Claimed</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 3%; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Security Type</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Associated with<br>
			Fee Offset</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Claimed</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 3%; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Security Title</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Associated with<br>
			Fee Offset</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Claimed</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 3%; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Unsold</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Securities</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Associated with<br>
			Fee Offset</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Claimed</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 3%; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Unsold Aggregate</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Offering Amount</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Associated with Fee</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Offset Claimed</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 3%; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Fee Paid</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">with Fee<br>
			Offset</p>

			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Source</p>
			</td>
		</tr>
		<tr style="font-size: 9pt;">
			<td colspan="23" style="vertical-align: middle; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;"><u>Rules 457(b) and 0-11(a)(2)</u></p>
			</td>
		</tr>
		<tr style="font-size: 9pt;">
			<td style="vertical-align: top; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt;">Fee Offset Claims</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 72.2167px; font-size: 9pt; text-align: center;">&#8212;&nbsp;</td>
			<td style="vertical-align: bottom; width: 1px; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
		</tr>
		<tr style="font-size: 9pt;">
			<td style="vertical-align: top; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt;">Fee Offset Sources</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 72.2167px; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: 1px; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
		</tr>
		<tr style="font-size: 9pt;">
			<td colspan="23" style="vertical-align: middle; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;"><u>Rules 457(p)</u></p>
			</td>
		</tr>
		<tr style="font-size: 9pt;">
			<td style="vertical-align: top; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt;">Fee Offset Claims</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 72.2167px; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: 1px; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
		</tr>
		<tr style="font-size: 9pt;">
			<td style="vertical-align: top; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt;">Fee Offset Sources</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 72.2167px; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: 1px; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
		</tr>

</table>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt 0pt 0pt 8pt;"><u>Table 3: Combined Prospectuses </u></p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family: Times New Roman; font-size: 9pt; width: 100%; margin-left: auto; margin-right: auto;">

		<tr style="font-size: 9pt;">
			<td style="vertical-align: bottom; width: auto; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt;">Security Type</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
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			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Security Class<br>
			Title</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td colspan="2" style="vertical-align: bottom; width: auto; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Amount of Securities Previously<br>
			Registered</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td colspan="2" style="vertical-align: bottom; width: auto; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Maximum Aggregate Offering<br>
			Price of Securities<br>
			Previously Registered</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td colspan="2" style="vertical-align: bottom; width: auto; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Form<br>
			Type</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td colspan="2" style="vertical-align: bottom; width: auto; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">File<br>
			Number</p>
			</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: auto; font-size: 9pt;">&nbsp;</td>
			<td colspan="2" style="vertical-align: bottom; width: auto; font-size: 9pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: center; margin: 0pt;">Initial Effective<br>
			Date</p>
			</td>
			<td style="vertical-align: middle; width: auto; font-size: 9pt;">&nbsp;</td>
		</tr>
		<tr style="font-size: 9pt;">
			<td style="vertical-align: top; width: 15%; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 4.8%; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 4.8%; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; margin: 0pt; text-align: center;">&#8212;&nbsp;</p>
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			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt; text-align: center;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 4.8%; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: right; margin: 0pt;">&#8212;&nbsp;</p>
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			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 4.8%; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: right; margin: 0pt;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 4.8%; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: right; margin: 0pt;">&#8212;&nbsp;</p>
			</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
			<td style="vertical-align: bottom; width: 4.8%; font-size: 9pt;">
			<p style="font-family: Times New Roman; font-size: 9pt; font-variant: normal; text-align: right; margin: 0pt;">&#8212;&nbsp;</p>
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			<td style="vertical-align: bottom; width: 0.5%; font-size: 9pt;">&nbsp;</td>
		</tr>

</table>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 9pt; font-variant: normal; margin: 0pt;">&nbsp;</p>

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