-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NHPaxaZvt7fg+P7Ic6TNAnn8foxzoFdzw4Y9wtu54EZjWjZxqTqNJ7nMBvkjNx2E
 r1JfmfEuddUHmIQStjcLpA==

<SEC-DOCUMENT>0001144204-08-027783.txt : 20080512
<SEC-HEADER>0001144204-08-027783.hdr.sgml : 20080512
<ACCEPTANCE-DATETIME>20080512164515
ACCESSION NUMBER:		0001144204-08-027783
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20080512
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080512
DATE AS OF CHANGE:		20080512

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DOCUMENT SECURITY SYSTEMS INC
		CENTRAL INDEX KEY:			0000771999
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
		IRS NUMBER:				161229730
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32146
		FILM NUMBER:		08823810

	BUSINESS ADDRESS:	
		STREET 1:		36 WEST MAIN ST
		STREET 2:		SUITE 710
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14614
		BUSINESS PHONE:		585 232 1500

	MAIL ADDRESS:	
		STREET 1:		36 W MAIN ST
		STREET 2:		SUITE 710
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14614

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW SKY COMMUNICATIONS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	THOROUGHBREDS USA INC
		DATE OF NAME CHANGE:	19861118
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v113749_8k.htm
<TEXT>
<html>
  <head>
    <title>
</title>
</head>
  <body bgcolor="#ffffff"><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;

      <div>
        <hr style="COLOR: black" align="center" noshade size="1" width="10%">
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      AND EXCHANGE COMMISSION </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Washington,
      D.C. 20549&#160;</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">
      <hr style="COLOR: black" align="center" noshade size="1" width="20%">
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of
      1934</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      Report (Date of earliest event reported): </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>May12,
      2008</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 20pt; FONT-FAMILY: Times New Roman"><strong>DOCUMENT
      SECURITY SYSTEMS, INC.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><strong>(Exact
      name of registrant as specified in its charter) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="32%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>New
                York</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="32%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>1-32146</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="32%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>16-1229730</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="32%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><strong>(State
                or other jurisdiction of incorporation)</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="32%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><strong>(Commission
                File Number)</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="2%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="32%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><strong>(IRS
                Employer Identification
                No.)</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>First
                Federal Plaza, Suite 1525</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>28
                East Main Street</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Rochester,
                NY </strong></font></div>
            </td>
            <td align="left" valign="bottom" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>14614</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><strong>(Address
                of principal executive offices)</strong></font></div>
            </td>
            <td align="left" valign="bottom" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><strong>(Zip
                Code)</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant&#8217;s
      telephone number, including area code: </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(585)
      325-3610</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Not
      Applicable</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><strong>(Former
      name or former address, if changed since last report.) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below): </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#168;</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425) </font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="3%">&#160;</td>
            <td align="left" valign="top" width="75%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#168;</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12) </font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="3%">&#160;</td>
            <td align="left" valign="top" width="75%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#168;</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b)) </font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="3%">&#160;</td>
            <td align="left" valign="top" width="75%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#168;</font></div>
            </td>
            <td align="left" valign="top" width="75%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c)) </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      2.02</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>RESULTS
      OF OPERATIONS AND FINANCIAL CONDITION</em></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      May
      12, 2008, the Registrant issued a press release announcing its results of
      operations for its fiscal quarter ended March 31, 2008. A copy of the press
      release issued by the Registrant concerning the foregoing results is furnished
      herewith as Exhibit 99.1 and is incorporated herein by reference. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      information contained herein and in the accompanying exhibit shall not be
      incorporated by reference into any filing of the Registrant, whether made before
      or after the date hereof, regardless of any general incorporation language
      in
      such filing, unless expressly incorporated by specific reference to such filing.
      The information in this report, including the exhibit hereto, is furnished
      pursuant to Item 2.02 and shall not be deemed to be &#8220;filed&#8221; for purposes of
      Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise
      subject to the liabilities of that section or Sections 11 and 12(a)(2) of the
      Securities Act of 1933, as amended. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      9.01 </strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>EXHIBITS
      </em></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="8%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit&#160;99.1</font></div>
            </td>
            <td align="left" valign="bottom" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;&#160;</font></div>
            </td>
            <td align="left" valign="top" width="60%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                Release, dated May 12, 2008, reporting the results of operations
                for
                Document Security System, Inc.&#8217;s fiscal quarter ended March 31,
                2008.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURE
      </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the Registrant
      has
      duly caused this report to be signed on its behalf by the undersigned hereunto
      duly authorized. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="middle" width="34%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="middle" width="3%">&#160;</td>
            <td align="left" valign="bottom" width="1%">&#160;</td>
            <td align="left" valign="middle" width="34%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" colspan="3" valign="bottom" width="37%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>DOCUMENT
                SECURITY SYSTEMS, INC.</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="34%">&#160;</td>
            <td align="left" colspan="2" valign="middle" width="4%">&#160;</td>
            <td align="left" colspan="2" valign="middle" width="34%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated:
                May 12, 2008</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:</font></div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/</font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">S</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/
                Patrick A. White </font>
                <hr style="COLOR: black" align="left" noshade size="1" width="100%">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><strong>Patrick
                A. White
                </strong></font>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"><strong><em>Chief
                  Executive Officer</em></strong></font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="1%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td valign="bottom" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
      INDEX </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Number</u></strong></font></div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="63%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Description</u></strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">&#160;</td>
            <td align="left" valign="bottom" width="3%">&#160;</td>
            <td align="left" valign="bottom" width="63%">&#160;</td>
          </tr>
          <tr>
            <td align="left" valign="top" width="5%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">99.1</font></div>
            </td>
            <td align="left" valign="bottom" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
            </td>
            <td align="left" valign="bottom" width="63%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                Release, dated May 12, 2008, reporting the results of operations
                for the
                Registrant&#8217;s fiscal quarter ended March 31,
                2008.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v113749_ex99-1.htm
<TEXT>
<html>
  <head>
    <title>
</title>
</head>
  <body bgcolor="#ffffff"><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="bottom" width="41%">
<IMG SRC="logo.jpg">
</td>
            <td align="right" valign="bottom" width="37%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 28pt; FONT-FAMILY: Franklin Gothic Medium, sans-serif"><strong>News
                Release</strong></font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div align="left">
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Document
                Security Systems, Inc.</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">585.325.3610</font></div>
            </td>
            <td align="left" valign="top" width="34%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Investor
                contact: </strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Jeff
                Stanlis</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Hayden
                Communications, Inc.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">646.383.7621</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">jeff@haydenir.com</font></div>
            </td>
            <td align="left" valign="top" width="32%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>For
        Immediate Release</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Document
        Security Systems Reports Financial Results </strong></font><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>for
        First Quarter 2008</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><em>Company
        Announces Change in Senior Management and Sales Leadership
</em></strong></font><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">ROCHESTER,
        NY, May 12, 2008</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8212;
        Document Security Systems, Inc. (AMEX: </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>DMC</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>;</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        "DSS"),
        a leader in patented protection against counterfeiting and unauthorized copying,
        scanning and photo imaging, today reported results for the first quarter
        ended
        March 31, 2008. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Revenue
        from continuing operations for the quarter was $1.4 million, down 12% from
        the
        first quarter of 2007 revenue of $1.6 million. The decline in revenue was
        primarily due to the fact that the 2007 quarter included a significant digital
        solution sale as compared to the 2008 quarter. In addition, the Company
        experienced a decline in sales at its plastic printing division, as a result
        of
        its move to a new facility. The relocation was completed in February 2008,
        which
        negatively impacted first quarter shipments. During the quarter, the Company
        continued to experience strong demand for its safety paper, which increased
        138%
        from the first quarter of 2007, including orders for secure paper that meets
        the
        new Medicaid prescription pad requirements which became effective April 1,
        2008.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
        Patrick White, CEO of Document Security Systems, commented, &#8220;The first quarter
        was disappointing because we did not deliver the sales growth we had hoped
        for,
        after a relatively strong fourth quarter in 2007. However, the company completed
        several important and critical steps that should set the stage for more robust
        revenue acceleration in the future. We announced a new Chairman of the Board,
        Mr. Robert Fagenson, who is providing his vision and expertise into our
        corporate structure. We also recently announced the commencement of an expanded
        relationship with The Ergonomic Group, an organization we believe will have
        a
        significant impact on the Company&#8217;s thrust into the digital software security
        segment. In addition, we secured the first stage of funding for our Euro
        litigation project which provides the additional resources needed to continue
        the costly and time consuming legal process throughout the continent of Europe.
        These additional financial resources are expected to lift the significant
        burden
        of litigation cost from the Company&#8217;s operating businesses. Also, we are
        undertaking a significant cost reduction initiative which should improve
        profitability as we move forward. These strategic moves as well as others
        that
        are on the horizon will drive the Company towards achieving its full potential
        for strong revenue growth and profitability.&#8221;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font size="2">-
        MORE -</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>MANAGEMENT
        CHANGES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
        part
        of the ongoing cost-reduction initiative announced by the Chairman of the
        Board
        of Directors, Robert Fagenson, the Company has undertaken a change of senior
        management and sales leadership. As part of this initiative, the Company
        has
        accepted the resignation of Peter Ettinger as the Company&#8217;s President and a
        member of the Company&#8217;s Board of Directors. Mr. Ettinger will serve as a
        commission-only sales consultant for the Company, focusing on specific markets.
        On an interim basis, while new sales leadership is recruited, Patrick White
        will
        oversee all day-to-day operations and sales leadership.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;We
        appreciate the efforts of Peter, and believe we have a stronger sales channel
        with tremendous opportunity today, in large part due to his efforts,&#8221; Mr. White
        commented. &#8220;We are disappointed with our revenue trajectory, and believe it is
        appropriate to adjust our cost structure, and we therefore accepted Mr.
        Ettinger&#8217;s resignation. We look forward to continuing to work with Peter in his
        new capacity.&#8221;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>OPERATING
        RESULTS </strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gross
        profit from continuing operations for the first quarter decreased 24% to
        $745,000 compared with $984,000 in 2007. Gross profit margin was 52% compared
        with 60% in the first quarter of 2007. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Operating
        expenses for continuing operations for the first quarter of 2008 were $3.0
        million compared with $2.2 million in 2007, an increase of 34%. The increase
        included $292,000 of patent defense costs which were written off as a result
        of
        the Company&#8217;s loss on appeal of its U.K patent validity suit. In addition, the
        increase reflect increases in executive management and sales and operations
        personnel, significant costs for the Company&#8217;s first year Sarbanes Oxley work,
        and costs associated with the move of its plastic printing operations to
        a
        larger facility during the quarter. These cost increases were slightly offset
        by
        a significant reduction in travel costs and lower marketing and consulting
        costs
        during the 2008 quarter. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Adjusted
        EBITDA for the 2008 quarter was a loss of $1.3 million compared with a loss
        of
        $518,000 for the comparable period in 2007, an increase of 143%. (See
        Reconciliation of GAAP to Non-GAAP Financial Measures table below).
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
        loss
        was $2.3 million for the 2008 quarter, or $(0.17) on 13.7 million basic and
        diluted shares, a 90% increase compared with a net loss of $1.2 million or
        $(0.09) on 13.6 million basic and diluted shares, for the first quarter of
        2007.
</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
        of
        March 31, 2008, the Company had approximately $154,000 in cash and $2.3 million
        available to it under two revolving credit facilities. In addition, on May
        8,
        2008 the Company entered into a $500,000 credit facility to fund the Company&#8217;s
        ongoing patent infringement and related lawsuits against the European Central
        Bank. On May 9, 2008, the Company utilized $300,000 under this agreement.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font size="2">-
        MORE -</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>About
        Document Security Systems, Inc.</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
        rapidly
        growing security technology Company, Document Security Systems is a world
        leader
        in the development of optical deterrent technologies that help prevent
        counterfeiting and brand fraud from the use of the most advanced scanners,
        copiers and imaging systems in the market. The Company&#8217;s patented and
        patent-pending technologies protect valuable documents and printed products
        from
        counterfeiters and identity thieves. Document Security Systems&#8217; customers, which
        include international governments, major corporations and world financial
        institutions, use its covert and overt technologies to protect a number of
        applications including, but not limited to, currency, vital records, brand
        protection, ID Cards, internet commerce, passports and gift certificates.
        Document Security Systems&#8217; strategy is to become the world&#8217;s leading producer of
        cutting-edge security technologies for paper, plastic and electronically
        generated printed assets. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">More
        information about Document Security Systems can be found at its websites:
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>www.documentsecurity.com</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        and
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>www.plasticprintingprofessionals.com</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Safe
        Harbor Statement</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">This
        release contains forward-looking statements regarding expectations for future
        financial performance, which involve uncertainty and risk. It is possible
        the
        Company's future financial performance may differ from expectations due to
        a
        variety of factors including, but not limited to, changes in economic and
        business conditions in the world, increased competitive activity, achieving
        sales levels to fulfill revenue expectations, consolidation among its
        competitors and customers, technology advancements, unexpected costs and
        charges, adequate funding for plans, changes in interest and foreign exchange
        rates, regulatory and other approvals and failure to implement all plans,
        for
        whatever reason. It is not possible to foresee or identify all such factors.
        Any
        forward-looking statements in this report are based on current conditions;
        expected future</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">developments
        and other factors it believes are appropriate in the circumstances. Prospective
        investors are cautioned that such statements are not a guarantee of future
        performance and actual results or developments may differ materially from
        those
        projected. The Company makes no commitment to update any forward-looking
        statement included herein, or disclose any facts, events or circumstances
        that
        may affect the accuracy of any forward-looking statement.</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">TABLES
        FOLLOW. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font size="2">###</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">

              <tr>
                <td align="right" colspan="10" valign="top" width="73%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>DOCUMENT
                    SECURITY SYSTEMS, INC.&#160; AND SUBSIDIARIES</strong></font></div>
                </td>
              </tr>
              <tr>
                <td align="right" colspan="10" valign="top" width="73%">&#160;</td>
              </tr>
              <tr>
                <td align="right" colspan="10" valign="top" width="73%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Consolidated
                    Balance Sheets</strong></font></div>
                </td>
              </tr>
              <tr>
                <td align="right" colspan="10" valign="top" width="73%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>As
                    of</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>&#160;</div>
        <div align="left">
          <table border="0" cellpadding="0" cellspacing="0" id="ftable" width="100%">

              <tr>
                <td valign="bottom" width="61%" style="border-bottom: medium none;">&#160;</td>
                <td width="2%" style="border-bottom: medium none;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="17%" style="border-bottom: medium none;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font>&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: medium none;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="17%" style="border-bottom: medium none;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>&#160;</strong></font>&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: medium none;">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" width="61%" style="border-bottom: medium none;">&#160;</td>
                <td width="2%" style="border-bottom: medium none;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="17%" style="border-bottom: medium none;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong><font size="2">March
                    31, 2008</font></strong></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: medium none;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="17%" style="border-bottom: medium none;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong><font size="2">December
                    31, 2007</font></strong></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: medium none;">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" width="61%" style="border-bottom: #ffffff solid;">&#160;</td>
                <td width="2%" style="border-bottom: #ffffff solid;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="17%" style="border-bottom: black thin solid;">
                  <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(unaudited)</strong></font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ffffff solid;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="17%" style="border-bottom: black thin solid;">
                  <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(audited)</strong></font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ffffff solid;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ASSETS</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">&#160;</td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Current
                    assets:</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 9pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cash
                    and cash equivalents</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">153,705
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">742,468
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 9pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Restricted
                    cash</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">177,345
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accounts
                    receivable, net of allowance of $82,000 ($82,000 -2007)</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">696,051
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">617,320
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 9pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Inventory</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">253,763
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">259,442
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 9pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Loans
                    to employees</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">122,023
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">120,732
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc solid;">
                  <div style="MARGIN-LEFT: 9pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Prepaid
                    expenses and other current assets</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">399,284
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">487,715
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc solid;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">&#160;</td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
                    current assets</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1,802,171
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">2,227,677
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">&#160;</td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Restricted
                    cash</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">177,345
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Fixed
                    assets, net</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1,461,945
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1,494,540
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Other
                    assets</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">146,530
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">147,958
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Goodwill</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1,396,734
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1,396,734
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc solid;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Other
                    intangible assets, net</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">5,873,122
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">6,149,530
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc solid;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">&#160;</td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc solid;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Total
                    assets</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">10,680,502</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">11,593,784</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc solid;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">&#160;</td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>LIABILITIES
                    AND STOCKHOLDERS' EQUITY</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">&#160;</td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Current
                    liabilities:</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 9pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accounts
                    payable</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1,790,449</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1,795,085</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 9pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accrued
                    expenses &amp; other current liabilities</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1,042,509</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">818,606</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 9pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Deferred
                    revenue</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">678,597</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">732,355</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc solid;">
                  <div style="MARGIN-LEFT: 9pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Current
                    portion of capital lease obligations</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">82,187</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">79,948</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc solid;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">&#160;</td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
                    current liabilities</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">3,593,742</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">3,425,994</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">&#160;</td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">&#160;</td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Revolving
                    notes from related parties</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1,290,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">300,000</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%">&#160;</td>
                <td width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Long-term
                    capital lease obligations</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">261,350
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">294,821
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%">&#160;</td>
                <td width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Long-term
                    deferred revenue</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">7,448
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">15,938
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%">&#160;</td>
                <td width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Deferred
                    tax liability</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">193,921
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">200,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%">&#160;</td>
                <td width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Commitments
                    and contingencies</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">&#160;</td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Stockholders'
                    equity</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Common
                    stock, $.02 par value; 200,000,000 shares authorized,
                    13,654,364&#160;shares issued and outstanding (13,654,364 in
                    2007)</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">273,087</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">273,087</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Additional
                    paid-in capital</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">31,576,055</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">31,298,571</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc solid;">
                  <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accumulated
                    deficit</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(26,515,101</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(24,214,627</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc solid;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
                    stockholders' equity</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">5,334,041</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">7,357,031</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc solid;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">&#160;</td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc solid;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Total
                    liabilities and stockholders' equity</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">10,680,502</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">11,593,784</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc solid;">&#160;</td>
              </tr>

          </table>
        </div>
        <div align="left">&#160;</div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">###</font></div>
        <div align="left">&#160;</div>
        <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
          <div id="FTR">
            <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
          </div>
          <div id="PN" style="PAGE-BREAK-AFTER: always">
            <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
            <div style="WIDTH: 100%; TEXT-ALIGN: center">
              <hr style="COLOR: black" noshade size="2">
            </div>
          </div>
          <div id="HDR">
            <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
          </div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;<br>
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">

              <tr>
                <td align="right" colspan="6" valign="top" width="47%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>DOCUMENT
                    SECURITY SYSTEMS, INC. AND SUBSIDIARIES</strong></font></div>
                </td>
              </tr>
              <tr>
                <td colspan="6" valign="top" width="47%">&#160;</td>
              </tr>
              <tr>
                <td colspan="6" valign="top" width="47%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Consolidated
                    Statements of Operations</strong></font></div>
                </td>
              </tr>
              <tr>
                <td colspan="6" valign="top" width="47%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>For
                    The Three Months Ended March 31,</strong></font></div>
                </td>
              </tr>
              <tr>
                <td align="right" colspan="6" valign="top" width="47%">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(unaudited)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>&#160;</div>
        <div align="left">
          <table border="0" cellpadding="0" cellspacing="0" id="ftable" width="100%">

              <tr>
                <td valign="bottom" width="42%" style="border-bottom: #ffffff solid;">&#160;</td>
                <td width="2%" style="border-bottom: #ffffff thin solid;">&#160;</td>
                <td colspan="9" valign="bottom" width="56%" style="border-bottom: black thin solid;">
                  <div align="center">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Three
                    Months Ended</strong></font></div>
                </td>
              </tr>
              <tr>
                <td valign="bottom" width="42%" style="border-bottom: #ffffff solid;">&#160;</td>
                <td width="2%" style="border-bottom: #ffffff solid;">&#160;</td>
                <td colspan="2" valign="bottom" width="17%" style="border-bottom: black thin solid;">
                  <div align="center">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>March
                    31, 2008</strong></font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" colspan="2" valign="bottom" width="17%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>March
                    31, 2007</strong></font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" colspan="2" valign="bottom" width="17%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>%
                    Change</strong></font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Revenue</em></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Security
                    printing &amp; products</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">932,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">992,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-6%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Royalties</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">329,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">299,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">10%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Digital
                    solutions</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">8,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">163,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-95%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc solid;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Legal
                    products</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">173,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">176,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-2%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Total
                    Revenue</em></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1,442,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1,630,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-12%
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">&#160;</td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Costs
                    of revenue</em></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Security
                    printing &amp; products</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">596,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">508,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">17%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Digital
                    sales</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">4,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">34,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-88%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc solid;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Legal
                    products</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">97,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">103,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-6%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Total
                    cost of revenue</em></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">697,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">645,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">8%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;
                    </font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">&#160;</td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Gross
                    profit</em></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;
</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Security
                    printing &amp; products</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">336,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">484,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-31%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Royalties</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">329,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">299,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">10%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Digital
                    solutions</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">4,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">129,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-97%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white solid;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Legal
                    products</font></div>
                </td>
                <td width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">76,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">73,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">4%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Total
                    gross profit</em></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">745,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">985,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-24%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">&#160;</td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">52%</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">60%</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>Selling,
                    general and administrative</em></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">General
                    and administrative </font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">575,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">410,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">40%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Stock
                    based payments</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">407,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">336,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">21%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Professional
                    Fees</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">367,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">320,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">15%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sales
                    and marketing</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">389,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">519,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-25%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Depreciation
                    and amortization</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">42,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">20,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">110%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">295,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">192,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">54%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Research
                    and development</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">115,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">94,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">22%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Impairment
                    of patent defense costs</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">292,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white solid;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amortization
                    of intangibles</font></div>
                </td>
                <td width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">527,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">346,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">52%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%" style="border-bottom: #ccffcc;">&#160;</td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                    Total Operating Expenses</em></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">3,009,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">2,237,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">35%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%">&#160;</td>
                <td width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white solid;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
                    other income (loss), net</font></div>
                </td>
                <td width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(36,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">42,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-186%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%">&#160;</td>
                <td width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white solid;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
                    loss</font></div>
                </td>
                <td width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(2,300,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(1,210,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">90%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%">&#160;</td>
                <td width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white solid;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
                    loss per share, basic and diluted</font></div>
                </td>
                <td width="2%" style="border-bottom: white thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(0.17</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(0.09</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">90%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="42%">&#160;</td>
                <td width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="2%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
                <td align="right" valign="bottom" width="16%">&#160;</td>
                <td align="left" valign="bottom" width="1%">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="42%" style="border-bottom: white solid;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Weighted
                    average common shares outstanding, basic and diluted</font></div>
                </td>
                <td width="2%" style="border-bottom: white solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">13,654,364
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">13,584,795
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">&#160;</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font size="2">###</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div>
          <table cellpadding="0" cellspacing="0" width="100%">

              <tr>
                <td colspan="9" valign="top" width="85%">
                  <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>DOCUMENT
                    SECURITY SYSTEMS, INC. AND SUBSIDIARIES</strong></font></div>
                </td>
              </tr>
              <tr>
                <td colspan="9" valign="top" width="85%">&#160;</td>
              </tr>
              <tr>
                <td colspan="9" valign="top" width="85%">
                  <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Consolidated
                    Statements of Cash Flows</strong></font></div>
                </td>
              </tr>
              <tr>
                <td colspan="9" valign="top" width="85%">
                  <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>For
                    the Three Months Ended March 31, </strong></font></div>
                </td>
              </tr>
              <tr>
                <td colspan="9" valign="top" width="85%">
                  <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(unaudited)</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div>&#160;</div>
        <div align="left">
          <table border="0" cellpadding="0" cellspacing="0" id="ftable" width="100%">

              <tr>
                <td valign="bottom" width="61%" style="border-bottom: medium none;">&#160;</td>
                <td width="2%" style="border-bottom: medium none;">&#160;</td>
                <td colspan="2" valign="bottom" width="17%" style="border-bottom: medium none;">&#160;&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: medium none;">&#160;</td>
                <td colspan="2" valign="bottom" width="17%" style="border-bottom: medium none;">&#160;&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: medium none;">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" width="61%" style="border-bottom: #ffffff solid;">&#160;</td>
                <td width="2%" style="border-bottom: #ffffff solid;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="17%" style="border-bottom: black thin solid;">
                  <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>2008</strong></font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ffffff solid;">&#160;</td>
                <td colspan="2" valign="bottom" width="17%" style="border-bottom: black thin solid;">
                  <div align="center">&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>2007</strong></font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ffffff solid;">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="61%" style="border-bottom: medium none;">&#160;</td>
                <td width="2%" style="border-bottom: medium none;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="17%" style="border-bottom: medium none;">&#160;&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: medium none;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="17%" style="border-bottom: medium none;">&#160;&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: medium none;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Cash
                    flows from operating activities:</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
                    loss</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(2,300,474</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(1,209,943</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Adjustments
                    to reconcile net loss to net cash used by operating
                    activities:</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Depreciation
                    and amortization expense</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">605,698</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">391,398</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Stock
                    based compensation</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">406,848</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">335,948</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Impairment
                    of patent defense costs</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">291,581
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Increase)
                    decrease in assets:</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accounts
                    receivable</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(78,731</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(399,940</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Inventory</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">5,679
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(77,163</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Prepaid
                    expenses and other assets</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(51,613</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(6,065</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Increase
                    (decrease) in liabilities:</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accounts
                    payable</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(9,708</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">99,043
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accrued
                    expenses and other liabilities</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">228,641
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">142,961
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white solid;">
                  <div style="MARGIN-LEFT: 27pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Deferred
                    revenue</font></div>
                </td>
                <td width="2%" style="border-bottom: white solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(62,248</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(41,861</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">&#160;</td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
                    cash used by operating activities</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(964,327</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(765,622</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">&#160;</td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Cash
                    flows from investing activities:</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Purchase
                    of fixed assets</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(46,362</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(27,162</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white solid;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Purchase
                    of other intangible assets</font></div>
                </td>
                <td width="2%" style="border-bottom: white solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(536,842</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(380,306</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">&#160;</td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
                    cash used by investing activities</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(583,204</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(407,468</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">&#160;</td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Cash
                    flows from financing activities:</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Borrowing
                    on revolving note- related parties</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">990,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Repayments
                    of capital lease obligations</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(31,232</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(9,721</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Payment
                    of stock issuance costs</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(519,619</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white solid;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Issuance
                    of common stock</font></div>
                </td>
                <td width="2%" style="border-bottom: white solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">339,600
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white solid;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">&#160;</td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white solid;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
                    cash provided (used) by financing activities</font></div>
                </td>
                <td width="2%" style="border-bottom: white solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">958,768
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(189,740</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc;">&#160;</td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Net
                    decrease in cash and cash equivalents</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(588,763</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(1,362,830</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc solid;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Cash
                    and cash equivalents beginning of period</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">742,468</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">5,802,615</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc solid;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="61%" style="border-bottom: white;">&#160;</td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="61%" style="border-bottom: #ccffcc solid;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Cash
                    and cash equivalents end of period</strong></font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">153,705</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="16%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">4,439,785</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc solid;">&#160;</td>
              </tr>

          </table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font size="2">###</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br>
        <div>
          <table cellpadding="0" cellspacing="0" id="ftable" width="100%">

              <tr>
                <td valign="bottom" width="57%" style="border-bottom: medium none;">&#160;</td>
                <td width="2%" style="border-bottom: medium none;">&#160;</td>
                <td colspan="8" valign="bottom" width="39%" style="border-bottom: medium none;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Three
                    Months Ended March 31, </strong></font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: medium none;">&#160;</td>
              </tr>
              <tr>
                <td valign="bottom" width="57%" style="border-bottom: #ffffff solid;">&#160;</td>
                <td width="2%" style="border-bottom: #ffffff solid;">&#160;</td>
                <td colspan="2" valign="bottom" width="12%" style="border-bottom: black thin solid;">
                  <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>2008</strong></font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="12%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>2007</strong></font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="11%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>%
                    change vs. 2007</strong></font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="border-bottom: medium none;">&#160;</td>
                <td width="2%" style="border-bottom: medium none;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="12%" style="border-bottom: medium none;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(unaudited)</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: medium none;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="12%" style="border-bottom: medium none;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(unaudited)</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: medium none;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="11%" style="border-bottom: medium none;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: medium none;">&#160;</td>
              </tr>
              <tr>
                <td align="left" valign="bottom" width="57%" style="border-bottom: medium none;">&#160;</td>
                <td width="2%" style="border-bottom: medium none;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="12%" style="border-bottom: medium none;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: medium none;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="12%" style="border-bottom: medium none;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: medium none;">&#160;</td>
                <td align="right" colspan="2" valign="bottom" width="11%" style="border-bottom: medium none;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: medium none;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="57%" style="border-bottom: #ccffcc;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net
                    Loss</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(2,300,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">$</font></div>
                </td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(1,210,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">90%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="57%" style="border-bottom: white;">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Add
                    back:</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="57%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Depreciation</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">79,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">45,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">76%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="57%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amortization
                    of Intangibles</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">527,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">346,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">52%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="57%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Stock
                    based payments</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">407,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">336,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">21%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="57%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Interest
                    Income</font></div>
                </td>
                <td width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(41,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-100%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: white;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td align="left" valign="bottom" width="57%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Interest
                    Expense</font></div>
                </td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">21,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">1,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">2000%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
              </tr>
              <tr bgcolor="white">
                <td align="left" valign="bottom" width="57%" style="border-bottom: white solid;">
                  <div style="MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Income
                    Taxes</font></div>
                </td>
                <td width="2%" style="border-bottom: white solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">5,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">5,000
                    </font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: black thin solid;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">-</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black thin solid;">&#160;</td>
              </tr>
              <tr bgcolor="#ccffcc">
                <td valign="bottom" width="57%" style="border-bottom: #ccffcc;">&#160;</td>
                <td width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: #ccffcc;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: #ccffcc;">&#160;</td>
              </tr>
              <tr bgcolor="white">
                <td valign="bottom" width="57%" style="border-bottom: white solid;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Adjusted
                    EBITDA</font></div>
                </td>
                <td width="2%" style="border-bottom: white solid;">&#160;</td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(1,261,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">&#160;</td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">(518,000</font></div>
                </td>
                <td align="left" valign="bottom" width="2%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">)</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                </td>
                <td align="right" valign="bottom" width="11%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px; FONT-FAMILY: Times New Roman">143%</font></div>
                </td>
                <td align="left" valign="bottom" width="1%" style="border-bottom: black double;">
                  <div style="MARGIN-LEFT: 0px; TEXT-INDENT: 0px; MARGIN-RIGHT: 0px">&#160;</div>
                </td>
              </tr>

          </table>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Adjusted
        EBITDA: Non-GAAP Financial Performance Measure</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company uses Adjusted EBITDA as a non-GAAP financial performance measurement.
        Adjusted EBITDA is calculated by adding back to net income (loss) interest,
        income taxes, depreciation, amortization, and stock-based compensation expense.
        Adjusted EBITDA is provided to investors to supplement the results of operations
        reported in accordance with GAAP. Management believes Adjusted EBITDA is
        useful
        to help investors analyze the operating trends of the business before and
        after
        the adoption of SFAS 123(R) and to assess the relative underlying performance
        of
        businesses with different capital and tax structures. Management believes
        that
        Adjusted EBITDA provides an additional tool for investors to use in comparing
        its financial results with other companies in the industry, many of which
        also
        use Adjusted EBITDA in their communications to investors. By excluding non-cash
        charges such as amortization, depreciation and stock-based compensation,
        as well
        as non-operating charges for interest and income taxes, investors can evaluate
        the Company's operations and its ability to generate cash flows from operation
        and can compare its results on a more consistent basis to the results of
        other
        companies in the industry. Management also uses Adjusted EBITDA to evaluate
        potential acquisitions, establish internal budgets and goals, and evaluate
        performance of its business units and management. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Document
        Security Systems considers Adjusted EBITDA to be an important indicator of
        the
        Company's operational strength and performance of its business and a useful
        measure of the Company's historical and prospective operating trends. However,
        there are significant limitations to the use of Adjusted EBITDA since it
        excludes interest income and expense and income taxes, all of which impact
        the
        Company's profitability and operating cash flows, as well as depreciation,
        amortization and stock based compensation. Document Security Systems believes
        that these limitations are compensated by clearly identifying the difference
        between the two measures. Consequently, Adjusted EBITDA should not be considered
        in isolation or as a substitute for net income (loss) presented in accordance
        with GAAP. Adjusted EBITDA as defined by the Company may not be comparable
        with
        similarly named measures provided by other entities</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font size="2">###</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 logo.jpg
M_]C_X``02D9)1@`!`@$`2`!(``#_X0X!17AI9@``34T`*@````@`!P$2``,`
M```!``$```$:``4````!````8@$;``4````!````:@$H``,````!``(```$Q
M``(````;````<@$R``(````4````C8=I``0````!````I````-````!(````
M`0```$@````!061O8F4@4&AO=&]S:&]P($-3(%=I;F1O=W,`,C`P.#HP-3HQ
M,B`Q-3HQ.#HP-P```````Z`!``,````!``$``*`"``0````!````X:`#``0`
M```!````10`````````&`0,``P````$`!@```1H`!0````$```$>`1L`!0``
M``$```$F`2@``P````$``@```@$`!`````$```$N`@(`!`````$```S+````
M`````$@````!````2`````'_V/_@`!!*1DE&``$"`0!(`$@``/_M``Q!9&]B
M95]#30`!_^X`#D%D;V)E`&2``````?_;`(0`#`@("`D(#`D)#!$+"@L1%0\,
M#`\5&!,3%1,3&!$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`$-"PL-#@T0#@X0%`X.#A04#@X.#A01#`P,#`P1$0P,#`P,#!$,#`P,#`P,
M#`P,#`P,#`P,#`P,#`P,#`P,#`P,_\``$0@`,0"@`P$B``(1`0,1`?_=``0`
M"O_$`3\```$%`0$!`0$!``````````,``0($!08'"`D*"P$``04!`0$!`0$`
M`````````0`"`P0%!@<("0H+$``!!`$#`@0"!0<&"`4###,!``(1`P0A$C$%
M05%A$R)Q@3(&%)&AL4(C)!52P6(S-'*"T4,')9)3\.'Q8W,U%J*R@R9$DU1D
M1<*C=#87TE7B9?*SA,/3=>/S1B>4I(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F
M]C='5V=WAY>GM\?7Y_<1``("`0($!`,$!08'!P8%-0$``A$#(3$2!$%187$B
M$P4R@9$4H;%"(\%2T?`S)&+A<H*20U,58W,T\24&%J*R@P<F-<+21)-4HQ=D
M154V=&7B\K.$P]-UX_-&E*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6YO8G-T=7
M9W>'EZ>WQ__:``P#`0`"$0,1`#\`]522224I))))2DDDDE*22224\S]:?KOC
M?5O+HQ;L2S).16;0ZMS6@`.V;?TA0_J[]<\3ZR9%[68;Z?L=8<?5<QT^H[:W
M;M)_T:Y;_&Y_RST__P`+/_\`/@0O\663C8^5U(Y%U=`=52&FU[6`D/LXWEOT
M59CCC[8E7J:\LDO<X=*?3/5Q_P#0#[A_=_K_`,9^C1370ZDO%;1+9&@\%E_M
M/I?_`'.QO^WJ_A^__9_U_0Z3,BA^*US;&N#JP6N#@X$$:%K@7[O\Y12!%5;)
M$@WLFJ_FF?U1^134*OYID_NC\BFHSNR!22222E))))*4DDDDI__0]527%Y77
M@SZR]8PNI==LZ3C8AQQA5,;CC<+*6VWG?E8N2^W]+_+]BGC_`%EZQ3]6<_J1
M<W);CY;*<'/R*75B[&?914[,NQZO0W-H]:[]+3]GJM]%/X#IXU_SEO$/S_![
M%)<QC?62^SK/3\&GJ/3^IU9=EK+VXE;FV5MKJLO9;N^V9C-CK:V5>]GYZHGZ
MY9GV&[)?U'IF+E5WVU#IUU-S[@&7NQ:VO^SY+\EUEM36V?HL#_K?IH<!5QA[
M5)8#/K111U_J?3>J7X^%CXHQG83[7>DZP6L>^\[KG^G:VNQNS]%]#_"+/Q/K
M7US)Z9T/)KQ*;<KJCL@W8X#Z]U=`ML:W$?8YWIW6UU,]+[3^@M_TE/\`.)<$
MOY>7$KB'\OL>O27/8/UAZCF==HQG89Q.FY5%]E'VAKF93G4.QV.M?CF/LV._
M[5MJ9;^GM]/U?T5?I[\[ZM_7#,ZLW$.9F8&)9?MW8^UN][G.<S[/0W]I/R:[
M=H^ED87_`%M+@.O@KB&GBP^O?U,ZO]8NH8N3@68[*Z*75O%[GM.XNW^WTZK5
MS)_Q3_64\W8)^-EO_O,NP9]:^JU4]2R<K":_"QLC,HHRL866>E]F+F5?M'$&
MZ_T[=G]*P_6K_P!-5B_SBGG=;Z]3]7L#K53\5IRJ\+U<=]%CHLRG556O9:S*
MKVU5_:/95Z7YG\\I8SR1`B*K99+'"1XB#;Q9_P`4GUD@_I<#_/L_]YEZ?T7#
MMP.CX&#<6FW%QJ:;"R2W=6QM;]FX-]FYO[J/BMS&TQF65W72??36ZIL?F_H[
M+LEW_@JXKJ7U@SF=8SJ/VS3175?Z=5)R*,0UM#*Y9;5G]+S+K'>IO?\`::[W
MT6?X/^;33*>30UHF,8PU%Z_5[M)<<[ZV9]'U6Z-U1AFS/R&T7VYS&-(81D%U
MVVJW!Q6_T=GHO=934^I&N^M.57T')ZC3EX65D4OQVN96W<W';=:RFQ^9]FS<
MQMNRMS[?T5]7\VF\!_&EW&/PMZM)<W@_6"_(ZB_%JZCT_J3&XMM^S$JM%@>Q
MS&5[GMR,W'])VYWL]6J__1>Q5Z_KJR[I72+:+\6WJF=;AUY>(QQ<Y@O<QN9L
MH;9ZU;L>7_SG\U_A$.`IX@]8DN/ZI]:NMXF;U9M5`=A=,LKK]5F,;XWTUY)?
MDN_:&&]C&.L_265XSZJJOYQ:&+UOJ>1G=/P7#'99F]+?F66,FUC<AIQV?HGU
MV[+L7=D/^C9^D_[D)<!JU<0NGH$ESO2^I=?RNN]1Z;?=B>CTMV/O>S&M:ZUM
M]9N<&;\Q[*',^C_VH2KZK]8#UG]A/9B_:&-&79F@/],XCGNI8UF+O]1N>ZQC
MF?TC[.S^D?\`=5(Q/X6H2?_1[C.^MWU;Z?DOQ,SJU56168LKT<6G]U^QCMKO
MY*#7]>OJE8\,;UJD%Q@%T-']I[V-8U<YCW8F+U?K&3T;ZT8.%]LRG'+HSJ0Q
M[+6%V^NO[3;C^I6QSW_I&5H'UAZ]G8W2K;[>N]&ZZVMS#^SO0JL]3W#W;&Y%
MCOT?T_H*?VX[?V?]PQ<1_E_Z,^C6;JZS8;7EK1)VM#C'\EK&N<[^RJ72NN=*
MZQZG[,Z@W)-,"UK0`YL_OUO8U[5?QG[\:I^T,W,:=@X;(^C_`&5Q_P!?.BXV
M#C6?6WIKW8'5\':YUU,!MP<]E7IY59]EGT__`$IZB9$`GA.AV!Z+B2!8VJR]
M%U+K/3.E/IJS\X4VY)VT50'/>>/T=5;'V.]W\E7'N%=+K[;S74QI>][PUH:T
M#<YS]S?9M;^\N>^IO1,4XM/UDRGNSNL=3J;=;F702P6-W?9\5@]E%%;3L_1_
M]1^C6M]8WX3.@Y_V^XX^(^A]=U[6FPL;8/2]3TZPYS]N]`@6(CO1T_(*%T3X
M:.:?KY]402#UJJ1X"?\`T6K73?K1T#JN2,7I_5:[\@@EM0@.<`-SMC7L;OVM
M_<7*=*R[\'IN-B8/UPZ2S$JK`H;;56VS8?<WU66Y/J,L]WO8]$Z?UO)/URZ7
MAWYG3>NG)KMC,QJ6>K0&LL?LKOJMNV;]OO\`Y"D.,:UT!_E\BWB.G\OVO8=5
MZMT_HU#,CJ>:,6FQ_IL>\""Z"_;[6._-8Y9@^O?U2()'6:X'E_ZC71D`\B5P
MGUP<&_7SZKB8][H'Q<U,QB,M#?X?]ZNF2-0]#TSZT=!ZME?9.G=3;DY&TO\`
M38W7:V-SO=6/WE8ZKUKIG1FU.ZGG#%%Q(J+P/<6B7?18[Q6EM;S`7!?XU'[+
M.@N]1M)&62+'QM:1Z?Z1X);[*_IO2@(RF!L#Y*D3&).Y=G_G[]4?_+JO[C_Z
M36KTOJF#UC&.5TW,^TT->:S8P"-P`<YON8W]]JP<+K@JS*[,WZV])R<5I/J4
ML;54YP@[8M^V7;-K]KOH+I<'J'3^H5.NZ?D59537;'64/;8T.`!V;ZRYN[:Y
M*8`V!\_Y0BJ-G?\`E_SFL[K'36]4'1W9[6]1<W>W&<`'%L;O;+=KO:KWIV?Z
M5WW-_P#(K@NK=#Q>O?7_`*A@7O=2]O3:KL;(K,64W,L;Z5]>H^CO1Z<WZ^Y(
M/U8MJ&/FUG]8Z^!-7V7Z+;\=OMW9]WT-GYG_``7\Y43`4*(V!E:.+>QUH4]1
M3UCIN1U*WI5&>VS/H:7W4-@N:!M!WPW;[=[%9R;J\3'LR<K)%-%0W66OVM:T
M#NYQ"XCZM=.Q.D_XQ\SIN&(IQ^FM`W&7N<XX]EMUSOS[;7NWV/71_7<=-=]6
M,VGJF4<+$N#:W9+:W6['%S34?2K!<[](UJ!B!*(&T@#MW3$D@GJ"1NUS]?/J
MB#'[:K^X_P#I-7NE?6+HG6+G4]-ZE7E6L&]U38#MH,%VQS6NV:_27+8O4,[&
MQ:<>CZX]';336VNL.97(:P!C-V[*W;MH1?J]UF^[ZY_8;LCI_6'/PC9^T\2E
MC;&[71]F]>JR[]'_`"$\XQ1KH+_EZ%HD=+Z_R[O_TK_UH_Y<R?B/R*GTS_E'
M&_XUOY0O)TE>C\H\@TI;GS?JI9'UK_Y`R_@S_JV+YL25/'\\?,-O)\DO(OTU
M]7_^1,'_`(EGY%:S/Z)?_P`6_P#ZDKY;21/\X?[R!\@_NOIYY/Q/Y5T?U&_Y
M3N_XH_E:O#4E:R?)+R+6A\\?-^JER_U@_P#%/T?XC_JU\^I*MA^;Z%L9?E^H
M?JI<K]>_H8/]:W_J6KY_22P_S@^OY*S?(?I^;Z>NW^HG_)5__AAW_4UKYY24
M^;Y"PX?G#]%4?^+;)_\`"3?^J:N@7RJDJ^3]'^[%GQ_I?WB_0V-_XN<O_P`+
M#\E*U^L_\E9?_%._(OF))/E\^/R@M'RY/.3Z>NK^H?\`.Y?]5OY5X*DILGR2
M\F''\\7_V?_M$K!0:&]T;W-H;W`@,RXP`#A"24T$)0``````$```````````
M```````````X0DE-`^T``````!``2`````$``0!(`````0`!.$))300F````
M```.`````````````#^````X0DE-!`T```````0```!X.$))3009```````$
M````'CA"24T#\P``````"0```````````0`X0DE-!`H```````$``#A"24TG
M$```````"@`!``````````(X0DE-`_4``````$@`+V9F``$`;&9F``8`````
M``$`+V9F``$`H9F:``8```````$`,@````$`6@````8```````$`-0````$`
M+0````8```````$X0DE-`_@``````'```/__________________________
M__\#Z`````#_____________________________`^@`````____________
M_________________P/H`````/____________________________\#Z```
M.$))300````````"``$X0DE-!`(```````0`````.$))300(```````0````
M`0```D````)``````#A"24T$'@``````!``````X0DE-!!H``````ST````&
M``````````````!%````X0````0`;`!O`&<`;P````$`````````````````
M`````````0``````````````X0```$4``````````````````````0``````
M```````````````````0`````0```````&YU;&P````"````!F)O=6YD<T]B
M:F,````!````````4F-T,0````0`````5&]P(&QO;F<``````````$QE9G1L
M;VYG``````````!"=&]M;&]N9P```$4`````4F=H=&QO;F<```#A````!G-L
M:6-E<U9L3',````!3V)J8P````$```````5S;&EC90```!(````'<VQI8V5)
M1&QO;F<`````````!V=R;W5P241L;VYG``````````9O<FEG:6YE;G5M````
M#$53;&EC94]R:6=I;@````UA=71O1V5N97)A=&5D`````%1Y<&5E;G5M````
M"D53;&EC951Y<&4`````26UG(`````9B;W5N9'-/8FIC`````0```````%)C
M=#$````$`````%1O<"!L;VYG``````````!,969T;&]N9P``````````0G1O
M;6QO;F<```!%`````%)G:'1L;VYG````X0````-U<FQ415A4`````0``````
M`&YU;&Q415A4`````0```````$US9V5415A4`````0``````!F%L=%1A9U1%
M6%0````!```````.8V5L;%1E>'1)<TA434QB;V]L`0````AC96QL5&5X=%1%
M6%0````!```````):&]R>D%L:6=N96YU;0````]%4VQI8V5(;W)Z06QI9VX`
M```'9&5F875L=`````EV97)T06QI9VYE;G5M````#T53;&EC959E<G1!;&EG
M;@````=D969A=6QT````"V)G0V]L;W)4>7!E96YU;0```!%%4VQI8V5"1T-O
M;&]R5'EP90````!.;VYE````"71O<$]U='-E=&QO;F<`````````"FQE9G1/
M=71S971L;VYG``````````QB;W1T;VU/=71S971L;VYG``````````MR:6=H
M=$]U='-E=&QO;F<``````#A"24T$*```````#`````$_\````````#A"24T$
M%```````!`````(X0DE-!`P`````#.<````!````H````#$```'@``!;X```
M#,L`&``!_]C_X``02D9)1@`!`@$`2`!(``#_[0`,061O8F5?0TT``?_N``Y!
M9&]B90!D@`````'_VP"$``P("`@)"`P)"0P1"PH+$14/#`P/%1@3$Q43$Q@1
M#`P,#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P!#0L+#0X-$`X.
M$!0.#@X4%`X.#@X4$0P,#`P,$1$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,#`P,
M#`P,#`P,#`P,#/_``!$(`#$`H`,!(@`"$0$#$0'_W0`$``K_Q`$_```!!0$!
M`0$!`0`````````#``$"!`4&!P@)"@L!``$%`0$!`0$!``````````$``@,$
M!08'"`D*"Q```00!`P($`@4'!@@%`PPS`0`"$0,$(1(Q!4%181,B<8$R!A21
MH;%"(R054L%B,S1R@M%#!R624_#A\6-S-1:BLH,F1)-49$7"HW0V%])5XF7R
MLX3#TW7C\T8GE*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6YO8W1U=G=X>7I[?'
MU^?W$0`"`@$"!`0#!`4&!P<&!34!``(1`R$Q$@1!46%Q(A,%,H&1%*&Q0B/!
M4M'P,R1BX7*"DD-3%6-S-/$E!A:BLH,')C7"TD235*,79$55-G1EXO*SA,/3
M=>/S1I2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V)S='5V=WAY>GM\?_V@`,
M`P$``A$#$0`_`/54DDDE*22224I))))2DDDDE/,_6GZ[XWU;RZ,6[$LR3D5F
MT.K<UH`#MFW](4/ZN_7/$^LF1>UF&^G['6''U7,=/J.VMV[2?]&N6_QN?\L]
M/_\`"S__`#X$+_%EDXV/E=2.1=70'54AIM>U@)#[.-Y;]%68XX^V)5ZFO+)+
MW.'2GTSU<?\`T`^X?W?Z_P#&?HT4UT.I+Q6T2V1H/!9?[3Z7_P!SL;_MZOX?
MO_V?]?T.DS(H?BM<VQK@ZL%K@X.!!&A:X%^[_.44@156R1(-[)JOYIG]4?D4
MU"K^:9/[H_(IJ,[L@4DDDDI22222E))))*?_T/54EQ>5UX,^LO6,+J77;.DX
MV(<<853&XXW"REMMYWY6+DOM_2_R_8IX_P!9>L4_5G/ZD7-R6X^6RG!S\BEU
M8NQGV45.S+L>KT-S:/6N_2T_9ZK?13^`Z>-?\Y;Q#\_P>Q27,8WUDOLZST_!
MIZCT_J=679:R]N)6YME;:ZK+V6[OMF8S8ZVME7O9^>J)^N69]ANR7]1Z9BY5
M=]M0Z==3<^X!E[L6MK_L^2_)=9;4UMGZ+`_ZWZ:'`5<8>U26`SZT44=?ZGTW
MJE^/A8^*,9V$^UWI.L%K'OO.ZY_IVMKL;L_1?0_PBS\3ZU]<R>F=#R:\2FW*
MZH[(-V.`^O=70+;&MQ'V.=Z=UM=3/2^T_H+?])3_`#B7!+^7EQ*XA_+['KTE
MSV#]8>HYG7:,9V&<3IN51?91]H:YF4YU#L=CK7XYC[-CO^U;:F6_I[?3]7]%
M7Z>_.^K?UPS.K-Q#F9F!B67[=V/M;O>YSG,^ST-_:3\FNW:/I9&%_P!;2X#K
MX*XAIXL/KW]3.K_6+J&+DX%F.RNBEU;Q>Y[3N+M_M].JU<R?\4_UE/-V"?C9
M;_[S+L&?6OJM5/4LG*PFOPL;(S**,K&%EGI?9BYE7[1Q!NO].W9_2L/UJ_\`
M358O\XIYW6^O4_5[`ZU4_%:<JO"]7'?18Z+,IU55KV6LRJ]M5?VCV5>E^9_/
M*6,\D0(BJV62QPD>(@V\6?\`%)]9(/Z7`_S[/_>9>G]%P[<#H^!@W%IMQ<:F
MFPLDMW5L;6_9N#?9N;^ZCXK<QM,9EE=UTGWTUNJ;'YOZ.R[)=_X*N*ZE]8,Y
MG6,ZC]LTT5U7^G52<BC$-;0RN66U9_2\RZQWJ;W_`&FN]]%G^#_FTTRGDT-:
M)C&,-1>OU>[27'.^MF?1]5NC=489LS\AM%]N<QC2&$9!==MJMP<5O]'9Z+W6
M4U/J1KOK3E5]!R>HTY>%E9%+\=KF5MW-QVW6LIL?F?9LW,;;LK<^W]%?5_-I
MO`?QI=QC\+>K27-X/U@OR.HOQ:NH]/ZDQN+;?LQ*K18'L<QE>Y[<C-Q_2=N=
M[/5JO_T7L5>OZZLNZ5TBVB_%MZIG6X=>7B,<7.8+W,;F;*&V>M6['E_\Y_-?
MX1#@*>(/6)+C^J?6KK>)F]6;50'873+*Z_59C&^-]->27Y+OVAAO8QCK/TEE
M>,^JJK^<6AB];ZGD9W3\%PQV69O2WYEEC)M8W(:<=GZ)]=NR[%W9#_HV?I/^
MY"7`:M7$+IZ!)<[TOJ77\KKO4>FWW8GH]+=C[WLQK6NM;?6;G!F_,>RAS/H_
M]J$J^J_6`]9_83V8OVAC1EV9H#_3.(Y[J6-9B[_4;GNL8YG](^SL_I'_`'52
M,3^%J$G_T>XSOK=]6^GY+\3,ZM55D5F+*]'%I_=?L8[:[^2@U_7KZI6/#&]:
MI!<8!=#1_:>]C6-7.8]V)B]7ZQD]&^M&#A?;,IQRZ,ZD,>RUA=OKK^TVX_J5
ML<]_Z1E:!]8>O9V-TJV^WKO1NNMK<P_L[T*K/4]P]VQN18[]']/Z"G]N.W]G
M_<,7$?Y?^C/HUFZNLV&UY:T2=K0XQ_):QKG._LJETKKG2NL>I^S.H-R33`M:
MT`.;/[];V->U7\9^_&J?M#-S&G8.&R/H_P!E<?\`7SHN-@XUGUMZ:]V!U?!V
MN==3`;<'/95Z>56?99]/_P!*>HF1`)X3H=@>BXD@6-JLO1=2ZSTSI3Z:L_.%
M-N2=M%4!SWGC]'56Q]CO=_)5Q[A72Z^V\UU,:7O>\-:&M`W.<_<WV;6_O+GO
MJ;T3%.+3]9,I[L[K'4ZFW6YET$L%C=WV?%8/9116T[/T?_4?HUK?6-^$SH.?
M]ON./B/H?7=>UIL+&V#TO4].L.<_;O0(%B([T=/R"A=$^&CFGZ^?5$$@]:JD
M>`G_`-%JUTWZT=`ZKDC%Z?U6N_(();4(#G`#<[8U[&[]K?W%RG2LN_!Z;C8F
M#]<.DLQ*JP*&VU5MLV'W-]5EN3ZC+/=[V/1.G];R3]<NEX=^9TWKIR:[8S,:
MEGJT!K+'[*[ZK;MF_;[_`.0I#C&M=`?Y?(MXCI_+]KV'5>K=/Z-0S(ZGFC%I
ML?Z;'O`@N@OV^UCOS6.68/KW]4B"1UFN!Y?^HUT9`/(E<)]<'!OU\^JXF/>Z
M!\7-3,8C+0W^'_>KIDC4/0],^M'0>K97V3IW4VY.1M+_`$V-UVMC<[W5C]Y6
M.J]:Z9T9M3NIYPQ1<2*B\#W%HEWT6.\5I;6\P%P7^-1^RSH+O4;21EDBQ\;6
MD>G^D>"6^ROZ;TH",I@;`^2I$QB3N79_Y^_5'_RZK^X_^DUJ]+ZI@]8QCE=-
MS/M-#7FLV,`C<`'.;[F-_?:L'"ZX*LRNS-^MO2<G%:3ZE+&U5.<(.V+?MEVS
M:_:[Z"Z7!ZAT_J%3KNGY%654UVQUE#VV-#@`=F^LN;NVN2F`-@?/^4(JC9W_
M`)?\YK.ZQTUO5!T=V>UO47-WMQG`!Q;&[VRW:[VJ]Z=G^E=]S?\`R*X+JW0\
M7KWU_P"H8%[W4O;TVJ[&R*S%E-S+&^E?7J/H[T>G-^ON2#]6+:ACYM9_6.O@
M35]E^BV_';[=V?=]#9^9_P`%_.5$P%"B-@96CBWL=:%/44]8Z;D=2MZ51GML
MSZ&E]U#8+F@;0=\-V^W>Q6<FZO$Q[,G*R1314-UEK]K6M`[N<0N(^K73L3I/
M^,?,Z;AB*<?IK0-QE[G../9;=<[\^VU[M]CUT?UW'37?5C-IZIE'"Q+@VMV2
MVMUNQQ<TU'TJP7._2-:@8@2B!M(`[=TQ)()Z@D;M<_7SZH@Q^VJ_N/\`Z35[
MI7UBZ)UBYU/3>I5Y5K!O=4V`[:#!=L<UKMFOTERV+U#.QL6G'H^N/1VTTUMK
MK#F5R&L`8S=NRMV[:$7ZO=9ON^N?V&[(Z?UAS\(V?M/$I8VQNUT?9O7JLN_1
M_P`A/.,4:Z"_Y>A:)'2^O\N[_]*_]:/^7,GXC\BI],_Y1QO^-;^4+R=)7H_*
M/(-*6Y\WZJ61]:_^0,OX,_ZMB^;$E3Q_/'S#;R?)+R+]-?5__D3!_P")9^16
MLS^B7_\`%O\`^I*^6TD3_.'^\@?(/[KZ>>3\3^5=']1O^4[O^*/Y6KPU)6LG
MR2\BUH?/'S?JI<O]8/\`Q3]'^(_ZM?/J2K8?F^A;&7Y?J'ZJ7*_7OZ&#_6M_
MZEJ^?TDL/\X/K^2LWR'Z?F^GKM_J)_R5?_X8=_U-:^>4E/F^0L.'YP_15'_B
MVR?_``DW_JFKH%\JI*OD_1_NQ9\?Z7]XOT-C?^+G+_\`"P_)2M?K/_)67_Q3
MOR+YB23Y?/C\H+1\N3SD^GKJ_J'_`#N7_5;^5>"I*;)\DO)AQ_/%_]D`.$))
M300A``````!3`````0$````/`$$`9`!O`&(`90`@`%``:`!O`'0`;P!S`&@`
M;P!P````$@!!`&0`;P!B`&4`(`!0`&@`;P!T`&\`<P!H`&\`<``@`$,`4P``
M``$`.$))300&```````'``@````!`0#_X1?Y:'1T<#HO+VYS+F%D;V)E+F-O
M;2]X87`O,2XP+P`\/WAP86-K970@8F5G:6X])^^[OR<@:60])U<U33!-<$-E
M:&E(>G)E4WI.5&-Z:V,Y9"<_/@H\>#IX;7!M971A('AM;&YS.G@])V%D;V)E
M.FYS.FUE=&$O)R!X.GAM<'1K/2=835`@=&]O;&MI="`S+C`M,C@L(&9R86UE
M=V]R:R`Q+C8G/@H\<F1F.E)$1B!X;6QN<SIR9&8])VAT='`Z+R]W=W<N=S,N
M;W)G+S$Y.3DO,#(O,C(M<F1F+7-Y;G1A>"UN<R,G('AM;&YS.FE8/2=H='1P
M.B\O;G,N861O8F4N8V]M+VE8+S$N,"\G/@H*(#QR9&8Z1&5S8W)I<'1I;VX@
M<F1F.F%B;W5T/2=U=6ED.C!C.61F9F,R+3(P-3@M,3%D9"TY968W+6(S-64S
M964R9CDR.2<*("!X;6QN<SIE>&EF/2=H='1P.B\O;G,N861O8F4N8V]M+V5X
M:68O,2XP+R<^"B`@/&5X:68Z0V]L;W)3<&%C93XQ/"]E>&EF.D-O;&]R4W!A
M8V4^"B`@/&5X:68Z4&EX96Q81&EM96YS:6]N/C(R-3PO97AI9CI0:7AE;%A$
M:6UE;G-I;VX^"B`@/&5X:68Z4&EX96Q91&EM96YS:6]N/C8Y/"]E>&EF.E!I
M>&5L641I;65N<VEO;CX*(#PO<F1F.D1E<V-R:7!T:6]N/@H*(#QR9&8Z1&5S
M8W)I<'1I;VX@<F1F.F%B;W5T/2=U=6ED.C!C.61F9F,R+3(P-3@M,3%D9"TY
M968W+6(S-64S964R9CDR.2<*("!X;6QN<SIP9&8])VAT='`Z+R]N<RYA9&]B
M92YC;VTO<&1F+S$N,R\G/@H@/"]R9&8Z1&5S8W)I<'1I;VX^"@H@/')D9CI$
M97-C<FEP=&EO;B!R9&8Z86)O=70])W5U:60Z,&,Y9&9F8S(M,C`U."TQ,61D
M+3EE9C<M8C,U93-E93)F.3(Y)PH@('AM;&YS.G!H;W1O<VAO<#TG:'1T<#HO
M+VYS+F%D;V)E+F-O;2]P:&]T;W-H;W`O,2XP+R<^"B`@/'!H;W1O<VAO<#I(
M:7-T;W)Y/CPO<&AO=&]S:&]P.DAI<W1O<GD^"B`\+W)D9CI$97-C<FEP=&EO
M;CX*"B`\<F1F.D1E<V-R:7!T:6]N(')D9CIA8F]U=#TG=75I9#HP8SED9F9C
M,BTR,#4X+3$Q9&0M.65F-RUB,S5E,V5E,F8Y,CDG"B`@>&UL;G,Z=&EF9CTG
M:'1T<#HO+VYS+F%D;V)E+F-O;2]T:69F+S$N,"\G/@H@(#QT:69F.D]R:65N
M=&%T:6]N/C$\+W1I9F8Z3W)I96YT871I;VX^"B`@/'1I9F8Z6%)E<V]L=71I
M;VX^-S(O,3PO=&EF9CI84F5S;VQU=&EO;CX*("`\=&EF9CI94F5S;VQU=&EO
M;CXW,B\Q/"]T:69F.EE297-O;'5T:6]N/@H@(#QT:69F.E)E<V]L=71I;VY5
M;FET/C(\+W1I9F8Z4F5S;VQU=&EO;E5N:70^"B`\+W)D9CI$97-C<FEP=&EO
M;CX*"B`\<F1F.D1E<V-R:7!T:6]N(')D9CIA8F]U=#TG=75I9#HP8SED9F9C
M,BTR,#4X+3$Q9&0M.65F-RUB,S5E,V5E,F8Y,CDG"B`@>&UL;G,Z>&%P/2=H
M='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O)SX*("`\>&%P.D-R96%T941A
M=&4^,C`P."TP-2TQ,E0Q-3HQ.#HP-RTP-3HP,#PO>&%P.D-R96%T941A=&4^
M"B`@/'AA<#I-;V1I9GE$871E/C(P,#@M,#4M,3)4,34Z,3@Z,#<M,#4Z,#`\
M+WAA<#I-;V1I9GE$871E/@H@(#QX87`Z365T861A=&%$871E/C(P,#@M,#4M
M,3)4,34Z,3@Z,#<M,#4Z,#`\+WAA<#I-971A9&%T841A=&4^"B`@/'AA<#I#
M<F5A=&]R5&]O;#Y!9&]B92!0:&]T;W-H;W`@0U,@5VEN9&]W<SPO>&%P.D-R
M96%T;W)4;V]L/@H@/"]R9&8Z1&5S8W)I<'1I;VX^"@H@/')D9CI$97-C<FEP
M=&EO;B!R9&8Z86)O=70])W5U:60Z,&,Y9&9F8S(M,C`U."TQ,61D+3EE9C<M
M8C,U93-E93)F.3(Y)PH@('AM;&YS.GAA<$U-/2=H='1P.B\O;G,N861O8F4N
M8V]M+WAA<"\Q+C`O;6TO)SX*("`\>&%P34TZ1&]C=6UE;G1)1#YA9&]B93ID
M;V-I9#IP:&]T;W-H;W`Z,&,Y9&9F8S$M,C`U."TQ,61D+3EE9C<M8C,U93-E
M93)F.3(Y/"]X87!-33I$;V-U;65N=$E$/@H@/"]R9&8Z1&5S8W)I<'1I;VX^
M"@H@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70])W5U:60Z,&,Y9&9F8S(M
M,C`U."TQ,61D+3EE9C<M8C,U93-E93)F.3(Y)PH@('AM;&YS.F1C/2=H='1P
M.B\O<'5R;"YO<F<O9&,O96QE;65N=',O,2XQ+R<^"B`@/&1C.F9O<FUA=#YI
M;6%G92]J<&5G/"]D8SIF;W)M870^"B`\+W)D9CI$97-C<FEP=&EO;CX*"CPO
M<F1F.E)$1CX*/"]X.GAM<&UE=&$^"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H\/WAP86-K970@96YD/2=W)S\^_^(,
M6$E#0U]04D]&24Q%``$!```,2$QI;F\"$```;6YT<E)'0B!865H@!\X``@`)
M``8`,0``86-S<$U31E0`````245#('-21T(``````````````````/;6``$`
M````TRU(4"`@````````````````````````````````````````````````
M```````````````18W!R=````5`````S9&5S8P```80```!L=W1P=````?``
M```48FMP=````@0````4<EA96@```A@````49UA96@```BP````48EA96@``
M`D`````49&UN9````E0```!P9&UD9````L0```"(=G5E9````TP```"&=FEE
M=P```]0````D;'5M:0```_@````4;65A<P``!`P````D=&5C:```!#`````,
M<E120P``!#P```@,9U120P``!#P```@,8E120P``!#P```@,=&5X=`````!#
M;W!Y<FEG:'0@*&,I(#$Y.3@@2&5W;&5T="U086-K87)D($-O;7!A;GD``&1E
M<V,`````````$G-21T(@245#-C$Y-C8M,BXQ```````````````2<U)'0B!)
M14,V,3DV-BTR+C$`````````````````````````````````````````````
M`````````````````````%A96B````````#S40`!`````1;,6%E:(```````
M``````````````!865H@````````;Z(``#CU```#D%A96B````````!BF0``
MMX4``!C:6%E:(````````"2@```/A```ML]D97-C`````````!9)14,@:'1T
M<#HO+W=W=RYI96,N8V@``````````````!9)14,@:'1T<#HO+W=W=RYI96,N
M8V@`````````````````````````````````````````````````````````
M````9&5S8P`````````N245#(#8Q.38V+3(N,2!$969A=6QT(%)'0B!C;VQO
M=7(@<W!A8V4@+2!S4D="```````````````N245#(#8Q.38V+3(N,2!$969A
M=6QT(%)'0B!C;VQO=7(@<W!A8V4@+2!S4D="````````````````````````
M`````&1E<V,`````````+%)E9F5R96YC92!6:65W:6YG($-O;F1I=&EO;B!I
M;B!)14,V,3DV-BTR+C$``````````````"Q2969E<F5N8V4@5FEE=VEN9R!#
M;VYD:71I;VX@:6X@245#-C$Y-C8M,BXQ````````````````````````````
M``````!V:65W```````3I/X`%%\N`!#/%``#[<P`!!,+``-<G@````%865H@
M``````!,"58`4````%<?YVUE87,``````````0``````````````````````
M``*/`````G-I9R``````0U)4(&-U<G8````````$``````4`"@`/`!0`&0`>
M`",`*``M`#(`-P`[`$``10!*`$\`5`!9`%X`8P!H`&T`<@!W`'P`@0"&`(L`
MD`"5`)H`GP"D`*D`K@"R`+<`O`#!`,8`RP#0`-4`VP#@`.4`ZP#P`/8`^P$!
M`0<!#0$3`1D!'P$E`2L!,@$X`3X!10%,`5(!60%@`6<!;@%U`7P!@P&+`9(!
MF@&A`:D!L0&Y`<$!R0'1`=D!X0'I`?(!^@(#`@P"%`(=`B8"+P(X`D$"2P)4
M`ET"9P)Q`GH"A`*.`I@"H@*L`K8"P0++`M4"X`+K`O4#``,+`Q8#(0,M`S@#
M0P-/`UH#9@-R`WX#B@.6`Z(#K@.Z`\<#TP/@`^P#^00&!!,$(`0M!#L$2`15
M!&,$<01^!(P$F@2H!+8$Q`33!.$$\`3^!0T%'`4K!3H%2058!6<%=P6&!98%
MI@6U!<4%U07E!?8&!@86!B<&-P9(!ED&:@9[!HP&G0:O!L`&T0;C!O4'!P<9
M!RL'/0=/!V$'=`>&!YD'K`>_!]('Y0?X"`L('P@R"$8(6@AN"(((E@BJ"+X(
MT@CG"/L)$`DE"3H)3PED"7D)CPFD";H)SPGE"?L*$0HG"CT*5`IJ"H$*F`JN
M"L4*W`KS"PL+(@LY"U$+:0N`"Y@+L`O("^$+^0P2#"H,0PQ<#'4,C@RG#,`,
MV0SS#0T-)@U`#5H-=`V.#:D-PPW>#?@.$PXN#DD.9`Y_#IL.M@[2#NX/"0\E
M#T$/7@]Z#Y8/LP_/#^P0"1`F$$,081!^$)L0N1#7$/41$Q$Q$4\1;1&,$:H1
MR1'H$@<2)A)%$F02A!*C$L,2XQ,#$R,30Q-C$X,3I!/%$^44!A0G%$D4:A2+
M%*T4SA3P%1(5-!56%7@5FQ6]%>`6`Q8F%DD6;!:/%K(6UA;Z%QT701=E%XD7
MKA?2%_<8&QA`&&48BABO&-48^AD@&449:QF1&;<9W1H$&BH:41IW&IX:Q1KL
M&Q0;.QMC&XH;LAO:'`(<*AQ2''L<HQS,'/4='AU''7`=F1W#'>P>%AY`'FH>
ME!Z^'ND?$Q\^'VD?E!^_'^H@%2!!(&P@F"#$(/`A'"%((74AH2'.(?LB)R)5
M(H(BKR+=(PHC."-F(Y0CPB/P)!\D321\)*LDVB4))3@E:"67)<<E]R8G)E<F
MAR:W)N@G&"=))WHGJR?<*`TH/RAQ**(HU"D&*3@I:RF=*=`J`BHU*F@JFRK/
M*P(K-BMI*YTKT2P%+#DL;BRB+-<M#"U!+78MJRWA+A8N3"Z"+K<N[B\D+UHO
MD2_'+_XP-3!L,*0PVS$2,4HQ@C&Z,?(R*C)C,ILRU#,-,T8S?S.X,_$T*S1E
M-)XTV#43-4TUAS7"-?TV-S9R-JXVZ3<D-V`WG#?7.!0X4#B,.,@Y!3E".7\Y
MO#GY.C8Z=#JR.N\[+3MK.ZH[Z#PG/&4\I#SC/2(]83VA/>`^(#Y@/J`^X#\A
M/V$_HC_B0"-`9$"F0.=!*4%J0:Q![D(P0G)"M4+W0SI#?4/`1`-$1T2*1,Y%
M$D5519I%WD8B1F=&JT;P1S5'>T?`2`5(2TB12-=)'4EC2:E)\$HW2GU*Q$L,
M2U-+FDOB3"I,<DRZ30)-2DV33=Q.)4YN3K=/`$])3Y-/W5`G4'%0NU$&45!1
MFU'F4C%2?%+'4Q-37U.J4_940E2/5-M5*%5U5<)6#U9<5JE6]U=$5Y)7X%@O
M6'U8RUD:66E9N%H'6E9:IEKU6T5;E5OE7#5<AES672==>%W)7AI>;%Z]7P]?
M85^S8`5@5V"J8/QA3V&B8?5B26*<8O!C0V.78^MD0&249.EE/6629>=F/6:2
M9NAG/6>39^EH/VB6:.QI0VF::?%J2&J?:O=K3VNG:_]L5VRO;0AM8&VY;A)N
M:V[$;QYO>&_1<"MPAG#@<3IQE7'P<DMRIG,!<UUSN'04='!TS'4H=85UX78^
M=IMV^'=6=[-X$7AN>,QY*GF)>>=Z1GJE>P1[8WO"?"%\@7SA?4%]H7X!?F)^
MPG\C?X1_Y8!'@*B!"H%K@<V",(*2@O2#5X.ZA!V$@(3CA4>%JX8.AG*&UX<[
MAY^(!(AIB,Z),XF9B?Z*9(K*BS"+EHO\C&.,RHTQC9B-_XYFCLZ/-H^>D`:0
M;I#6D3^1J)(1DGJ2XY--D[:4()2*E/257Y7)EC26GY<*EW67X)A,F+B9))F0
MF?R::)K5FT*;KYP<G(F<]YUDG=*>0)ZNGQV?BY_ZH&F@V*%'H;:B)J*6HP:C
M=J/FI%:DQZ4XI:FF&J:+IOVG;J?@J%*HQ*DWJ:FJ'*J/JP*K=:OIK%RLT*U$
MK;BN+:ZAKQ:OB[``L'6PZK%@L=:R2[+"LSBSKK0EM)RU$[6*M@&V>;;PMVBW
MX+A9N-&Y2KG"NCNZM;LNNZ>\(;R;O16]C[X*OH2^_[]ZO_7`<,#LP6?!X\)?
MPMO#6,/4Q%'$SL5+Q<C&1L;#QT''O\@]R+S).LFYRCC*M\LVR[;,-<RUS37-
MM<XVSK;/-\^XT#G0NM$\T;[2/]+!TT33QM1)U,O53M71UE76V-=<U^#89-CH
MV6S9\=IVVOO;@-P%W(K=$-V6WAS>HM\IWZ_@-N"]X43AS.)3XMOC8^/KY'/D
M_.6$Y@WFEN<?YZGH,NB\Z4;IT.I;ZN7K<.O[[(;M$>V<[BCNM.]`[\SP6/#E
M\7+Q__*,\QGSI_0T],+U4/7>]FWV^_>*^!GXJ/DX^<?Z5_KG^W?\!_R8_2G]
MNOY+_MS_;?___^X`#D%D;V)E`&1``````?_;`(0``0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#
M`P,#`P$!`0$!`0$!`0$!`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#_\``$0@`10#A`P$1``(1`0,1`?_=
M``0`'?_$`:(````&`@,!``````````````<(!@4$"0,*`@$`"P$```8#`0$!
M````````````!@4$`P<""`$)``H+$``"`0,$`0,#`@,#`P(&"74!`@,$$042
M!B$'$R(`"#$403(C%0E10A9A)#,74G&!&&*1)4.AL?`F-'(*&<'1-2?A4S:"
M\9*B1%1S148W1V,H5597&K+"TN+R9(-TDX1EH[/#T^,I.&;S=2HY.DA)2EA9
M6F=H:6IV=WAY>H6&AXB)BI25EI>8F9JDI::GJ*FJM+6VM[BYNL3%QL?(R<K4
MU=;7V-G:Y.7FY^CIZO3U]O?X^?H1``(!`P($!`,%!`0$!@8%;0$"`Q$$(1(%
M,08`(A-!40<R811Q"$*!(Y$54J%B%C,)L23!T4-R\!?A@C0EDE,88T3QHK(F
M-1E4-D5D)PIS@Y-&=,+2XO)59756-X2%H[/#T^/S*1J4I+3$U.3TE:6UQ=7E
M]2A'5V8X=H:6IK;&UN;V9W>'EZ>WQ]?G]TA8:'B(F*BXR-CH^#E)66EYB9FI
MN<G9Z?DJ.DI::GJ*FJJZRMKJ^O_:``P#`0`"$0,1`#\`W^/?NO=>]^Z]U[W[
MKW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]TB>R>Q]D=0;!W
MAVEV5N*BVCL#8&WLGNK>.Y\DM2]!@=O8:F>LR>4K%HX*FJ:GHZ:-G81QN]AP
M#[?MK:>\N(;6VC+W$C!54<23P&>F;BXAM();FXD"P(I+$^0'$XSU6H/YYW\I
MA@&'S>ZI((!!^SWOR#R/^83]BC^H7-__`$8I?VI_T%T&SSORJ,'>8Z_8_P#T
M#T.'07RX^'7S(S.]=\]*=H=>]T[2VKC,%MO*9ZFQ=744.`S%&=P9W)TE3)N/
M#434")B\A2RR2V6%C+&FHN0OM1=;-S/LFU6<+V]Q;RO<285J%JK$JBBMW&H:
M@%32II2IZ3VVZ\N[QN=W*LT$\2P1Y9:A:&0L>Y>T4TU.!6@K7'1DV;I9(9)W
MPFSD2*CH*V57VI2+-%'E9!'BH)*=L4*B/(9,F]/2E153+ZEC(Y]E0',Q8(+J
MY)+,H_5-"4^,@ZZ:5_$]=(.":]&9'+@4L;6V`"J3^D*]WPBFFNIOPK\1&0*=
M.U!A>J<I55%%0;=V54U-+434DL:;>Q`#55-'')64\#M0K'534"S(*A8BYIW8
M+)I;CVGFN=_@C26:\NE1@"#XC\#4`GNP&H=-::@*BHZ?BM=BF=HXK.V+@D?V
M:<1D@=N2M1JI72<&AZ:]^[-VA0;1S-90[4VW15E-'2RT]528+%T]3!*E?2E)
M89X:5)8I$/(92"#[?VC<MQEW&VCEW"=HR2""[$$:3@@FA'2?==NV^';[B2*P
MA60`$$(H(.H9!`J.A<]A[H0=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]
M^Z]U[W[KW7O?NO=>]^Z]U[W[KW7_T-_CW[KW7O?NO=>]^Z]U[W[KW7O?NO=>
M]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=$!_FK?]NVOG#_XK/VS_`.\GD/8B
MY1_Y6C8?^>J/_CPZ#_-?_*M[W_SS/_@Z^37"3XHN3_FT_/\`M(]YF#@.L'Y`
M/$?'F?\`#UNJ?\)@Y#_LL'R64.-<'?V%R`#5$`$"4?7^)+Y!HJZ/^"T"T/DU
M?Q/(-+!0$W@IYJMHM,4^XRUN-J-,%)%X')8KVU4ZVU4_LHP&D_&ZQAJS5[7'
M_$MUH>#QMQ&*!NZA&A:?[\<D)^%6<K39G!"6:[I]O*078Y6E:$9L#2WD/FW)
MC9<\2!J99=W;@)L!0TK7$;<<4K4?T371^R-O#],6EOY^*_4H`9H?P_Z84U^=
M<R*7_.ZG](TZ$?JQ?'N@7"H4Q59C6418JG$'\/EIR,8@AFFIJ447EU'%8?R0
M8XN37U,]6]D)=_.JP]:R!N+FNH'NR`3JI_:S4:2GZ2+&,G&R=M[0\=!7@HII
M([<8%/\`?<55CK^J[2'`L=D?\>1G_P#J'IO_`'.I?8>V7_DJ6G^F/_'3T=[S
M_P`DRZ^P?\>'2X]E?1GU[W[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7
MO?NO=>]^Z]U[W[KW7O?NO=?_T=_CW[KW7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]
MU[W[KW7O?NO=>]^Z]U[W[KW7O?NO=$!_FK?]NVOG#_XK-VS_`.\GD/8BY1_Y
M6C8?^>J/_CPZ#_-?_*M[W_SS/_@Z^37#_FHO^6:?]"CWF8.`ZP@D_M'^T_X>
MME;^2%_,W^)?P5Z1[EV/\A]S;XPN?WEVUC]\;>I=J;(R^[H9<;C=H4&(BF1J
M6-\/CLTV0CD2&JJEJ6H8PTD4!E9'4"\W\NW^]R63V1BJBLIU$C#E:U*@L5QW
M1J4\0T#.%J#)'(_,VV;%;7T=^TE796&FARH(%`Q"ALX=@V@5*J6((NJ7_A0M
M_+*C6R[^[7#11/'"(>F]ZTL9?)N/X@D%6M7)EJ*C"$FOJ_+)F\VW[;55-"=(
M!YY"WUB"3!0G-6J:+\-1H",W\"4$$'$)(V2.?]<+EX4HTU0*"@`^+XJ'7J"_
MQM4RS<"Z+CHZOP,_FT?#;YC=W9#J;X]9GLC=G85#L3,;G7#9/K/^YE+-M/;M
M?B,?75TF9SM918G$T=+5YJG6APM!XUC61I)GJ9B\BA;F[E7<]LVN.?<)X$MC
M**MKE:CL":`!"78@'7-)4F@"JB@*11RES9M>[;E+#MT<TDXC-%TQK55(%22]
M$45&B)``*DLSMGJV[=53N/<.`R&&I=EYNGGKUIXHYZO(;76FAM64\CR3-#GY
MYA''&A)TH[&U@"?8!L$LK.[AN7W.)D2IH%EJ<'`K&!Q]2.AW?/>7=I+;)MLH
M9Z"I:*@R,FCD_L!Z$_V1='?7O?NO=>]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?
MNO=>]^Z]U[W[KW7O?NO=>]^Z]U__TM_CW[KW7O?NO=>]^Z]U[W[KW7O?NO=>
M]^Z]U[W[KW7O?NO=>]^Z]U[W[KW7O?NO=%)^>O4V]^]_A;\HNF>M,?29;L#L
M[I'L#96SL97Y*DPU%7[AS^`K*#&4M5E:YDH\?!-53*K32D(@-R;>SCEZ\@V_
M?-JOKIB+>*=&8@5(`-3@9/13OUI-?[-N=E;BL\L+*HX9(QDXZT`8_P#A-G_-
MK6.-3TMUL"J*#_QG;K@\A0#_`,O+^OO(_P#UU>3_`/E+E_YQO_FZQG?VBYM9
MV(A2A)_$G_0?7/\`Z!M?YM7_`#Y;K;_T>W7/_P!<??O]=7D__E+E_P"<;_YN
MJ_ZT/-O^^8_][3_H/KW_`$#:_P`VK_GRW6W_`*/;KG_ZX^_?ZZO)_P#RER_\
MXW_S=>_UH>;?]\Q_[VG_`$'U<U_(E_D_?._X+_-S+=U_([KG9^UNO*OHO?6Q
MX<I@NSMH[NK6W'G-Q;)R.-I3B<'5SUJP2TN$J"TQ&A"H!-V'L"^X7._+_,6P
MI8;9.[7(N$>A1E&D!P<D`>8ZD'VYY$WWEK>Y+[<HU$!@9<,IR2A'!B?(^76X
MO[A+J;^O>_=>Z][]U[KWOW7NO>_=>Z][]U[KWOW7NO>_=>Z][]U[KWOW7NO>
M_=>Z][]U[KWOW7NO_]/:7^1_\SW.]-_,W'?!SJGXA=L_)?N'(]+4?>:)L7?/
M5NS<;%M";.93`UX>H[%W#M^#[G%U6/C+CRWD%2F@&S6&&V<J1WVQMO\`=[S#
M:V0G,7>LC'50$?`#QKZ>701W/FIK+>AL5KM$UU>F$241D7M)(_&0,4]?/`Z2
M&<_FY5G1^[.N<1\W/A+\COAUL?M7>>(Z[VKW1N[,]2]G=546\\\SIA\-O+.=
M4[XW)7[0&0:-O'/4TAATH[LRI&[*ZG)RWT5R^Q;[;7L\2%VC42(Y4<2HD50U
M/D?,#B>JGFQ[62`;SLEQ9PR/I#L4=0?Z11C3%3]@).!7H[7R&^<WQA^+.[MB
M=?\`='8=;@]_=F8S.YO8NR-M;"[%['W;N/"[8-.NX,O1;?ZXVGNO)IC<4:I/
M+-+'&@N2"0K%2+;=AW7=HKBXL;<-;Q$!F9T103P%7914]'6X[YMNU200WL[+
M+)72JH[DTXX16]#Q]#3@>@CQ/\U;X/9/>&P=BU79V\-I[A[0WEB.O=A+V'T1
MW[UQB=R[WS\AAPFV*'<6^NL=O[?7+9.52L4<E2FKZW`!/M:_*._)!<7`M4>*
M)"[Z)8G*J.+%4<F@^SI$G-FQO-!`;IUDE<*NJ*5`6/`59`*G[>ESW/\`S$/B
M1T'VQ4=%]B=CYL=NT.T\9OK)[!V3U7VWVAG\1M#,U<]!B<_F*?K78V[(L509
M"KIG2,SO&Q('`#+J3V/+>\;C9B_MK9?HRY0.TD:`L,D#6RU/V=*+[F':=ONO
MH[FX;ZK3JTK'(Y`QDZ%8#B/.N1ZCIUZ!^>_Q6^3?8FZ^H^H.QLAE.T=D[3Q^
M^]S=?;JZ\[,ZUW=C=F93(KB*#<_\$[)V?M.MJ\-4Y-U@6:!9%\C`&UQ=O<>7
M]UVJWBN[VW46SMI5E='4L!6E49J&@/'IW;]\VW<Y9(;.5C*@J0R2)C'#6JUI
M45I4BHKQ'0H_'CY)]*_*WKO_`$K]![VI]_[`.Y=S[/&X*7%YO$1?WBV;EI\'
MN3'?9[@QN*R&K&Y2G>(OXO%(1=&9;'VEW';+W:;GZ3<(/#N-(:E0<,*@U!(R
M.E-AN%IN=N+JREUPUI6A&<'@0#P(/0;X3YW_`!4W'T-VY\F\+VO1UW2'1.X=
M^[5[4WPFWMVI!M7/]95D5!O?'RXF;`QYW(OA*N949J2EJ(YB;Q,XY]J7V#=H
M]PL]K>T(OKA5:-:KW!ZZ36M!6AXD?/I.N];:UE=;@+C_`!6!B'-#@@`\*5.&
M'#UZ%WJ[OWI;NKJ+#=^=6]F;/WETUG\#5;FQW8V,S%,FV!A,>D[Y6MR-?6M2
MC"_P7[65:^.L$$U#)#(DZQLC@([K;KZQO'V^ZM72]5M)0CNJ>%`*UKY4J#Y5
MZ56U]9W=JM[;W"M:$$ZJT``XUK333S!H1YTZ`W87\POX==H?'OM;Y5]?]V8/
M=?Q^Z3R&[,9V1V9BL/NF7"X.IV104&4W))3028*/*9VCH\=E*>:.HH*>I@J8
MY5:%I![7W'+F]6NXV>U7%B4W"<*40E:G42!FM!D$4)%//I%#O^TW%C=[E#=:
MK*$D.P5L$`$T%*G!'`&M>@VQ_P#-8^&67PN+W)B-Q]U9;;N;H:+*87/XSXF_
M*S(83,8S)01U6.R6*RM)TQ-09#'U]+*LL$T,CQRQL&5BI!]JWY1WN.1XGC@6
M5200;B"H(X@CQ*@CS'2./FS994CEBEF:)P"I$$U"#P(/ATH?+H:.T?G/\3>D
MNU.I>E>X>[=I=8]C]YX27/\`5F#WR<EMJFW50QU<%"(4S^5H*;;N*RE16U"P
MPT==5TU7/,?''&S^GV@M=AW>^M+R^L[%Y;:!J.5HVD\>`-2*9)`(`ST87&];
M79W%M:W5VL<TJ@J&J`0305)%!4X`)&<<:="+VA\BNF^F=W]+;$[(WI3;;W5\
MAM[S]<]/8J3'9BO;>6\J;#U&?FPU-58O'UM'CG7$TDDWEK)*>`A;!RQ`*:UV
MV]O8;V>V@+16Z:Y#4#2M:5R03GR%3THN+^UM9;6&>2DDS:4P34X\QPR0,^O1
M6^XOYJ7PEZ`SNXMO]Q=C;WV'4;6W:VQ<KE,ST'W^-K/NO[MZ&##XG>--UC4;
M4S\^0JXRE(U#65$=61^RSCV;V/*6^[E'')96T<@=-0`EAU:?4J7##YU`IY]%
M-]S7LFVR21WMQ(C*Q4GPI2*BO!E0@X!.#P%>'1A^A?E/T[\E3N@=45N^:L[/
M;%IG1O/J+MCJPQ-F%K&H10#L_96T/XSJ%!)Y/L_/X++Y-&M-19N&TWNU^%]8
ML8UUIIDCDX4K70S4X^=*]&-ANMGN7B?2,YT4KJ1TX_Z=5KPZ3/S?^76QO@I\
M8>SOE'V-@=Q[IVMUG2X%JG;FTUH#G\UD-S[GPVT<+CZ&3*5=%CJ839?.P^6:
M:54BA#-9B`I>V'9KCF#=;7:;615FEKEN`"J6)-,\`<>O3.^[Q;[!M=SNMTC-
M#'IPO$EF"C^9%?ET1&H_FB_)*FVY+NO_`(;&[<J\/'A#N)5Q?RD^'F5R]7C/
ML/XFG\.P%#VQ-F<ED*BD(\-)#"]3-(PC1"Y`]GXY3VPR>%_6F'7JTY@N0*UI
MDF.@%?,F@X]$/];+_P`(3?U:FT:=7]M;DTI7@)"3CR`)]!7H]F=^8O5O6GQ1
MQ7R]^0]%NSXX]=MM7:^Y=XX7L[`U4V\.NY]U5V/Q-'@MT879HW1*^3BS&3AI
MV^S-3&=8<-H)(#\>RW=UNS[/MQ2YN=;!2A&E]())!;3B@)S3TZ$$F[VUKM:;
MK?AH(-*E@P)*ZB``0M2<D<.@QQ_\S;XF9.LPU#2Y/O$2[@KL;C\3-5?$SY54
M-!55&6G@IZ!OXE6]-08^&DE>I1C/)*L*1G6S!`6]JWY5WA%D8K;T4$FEQ`3C
MC@25_+I(G,^TR,BJ\]6I2L$P!K\S&!_/I2]R_P`Q+XC]"]LUG17878^;/;V-
MVKB][Y;8.R.J^W.T<_A=IYNIFI,1G<U!UKL;=D6)H<C4P,D1G>-B;<`,NIJQ
MY:WC<;,7]M;+]&7*AVDC0%AQ`ULM:?+_`"=.WW,6T[==?17-PWU6G5I6.1R!
MC)T*P\QYU%17B.G/H'Y]_%+Y-]C[IZ>Z@[)KLIVMLK:=%OS<O7>ZNO>R^M=X
M8[9>1R$.)HMS_P`"[)VAM.NJL-/DJB.$30K(NMUO8,":;CR]NVU6\5Y>VP%J
M[:5=71U+4)I5&:AH#Q]#TYM^^[;N<LD%I,QF05(9'0TQPUJM::EK3(J*\1T*
MWQZ^2/2_RJZ\_P!*W0N]:??VP?[S;HV=_'Z;%YO$1?WCV9EZC`[EQOV>X,;B
MLAJQN5I7B+^+Q2%;HS+8^TFX[9>[3<_2;A!X=QI#4J#AA4&H)'#I58;A:;G!
M]392ZX:TK0C(^1`/`@]!=M_Y\?$W=/0O;WR=P7;=!7='=#[AWQM7M;?2[>W=
M#2[3SO6]3!1[TH9\748&+.5YPE14HK/24L\<NJ\;.+GVJDY?W>+<+/:Y+0B^
MN%5HUU+W!ZZ36M!6AXD?/I.F];;)97.X)/6TB-&.EL'!X4J:AA2@-:]`I7?S
M=?@IB]H2=A93L#M'&=?PX6+<D^_,A\8?D_2;,@VW/!'50[BFW1/T^F%CP4M+
M,LJU9F\#1L&#:2#[,!R9S`TWTRV\)N:TT">`M7TT^)6ORZ+?ZX;%X0G\>;P"
M`=7@3TH>!KX?`UZ,KN;YB?&_:&4^-.'SO9V,IZWY@5L./^.(I\9G\A3]FU%3
MMVBW93_PRLH,34TF,AGV]D8*E)*]Z1&20"^JZ@JBV7<YEW-TM32S_ML@:,D9
MJ<Y!&*\.C5]VV^,V`:X'^-4,=`3J!TT/#`.M>-.(Z`GN3^:A\)OC[F]T8/N3
ML;>^PI-G;H.S,[F,ST)W_P#W1CW+]U]C!C,?O6EZRJ-HYIZ^K_;I7HJV>*J;
M_,L_LPL>4M]W)(I+&VCDUKJ`$T.JGJ5+AA\Z@4\^BZ^YKV3;7D2]N)$*,5)\
M*4BHK^((0>!\^&>'2RQO\PWXP97K7L_MRFS7:5/L'INCQ.3[&R^7^//?^WZK
M!8G,&K\&6I\#GNM,;N#<&,HTHI'K9L92UBT$0$E1XHR&]L/RWNJ75K9E(C<3
M$A`)HB"1Y5#D`FN`2*G`J>GTYAVQ[:>[5Y?IXJ:B8I!0&N:%`:8R0,#)QTX;
MF_F%?##:G276_P`B,A\@MCU_4O<F5Q&W^I-P;7DR>\<GV;N3-S+34&V-B[/V
MKCLQO/<NYUJ&*5..I<?)64+(_P!S'#XWTTAY=WN:^N=N3;W%W"I:0-10BC\3
M,Q"A?1B:'R)Z=GW[:;>SAOI+U?IY&TI0$LS5II"`%BP."*5'G3H:_P#37M[_
M`)Y/MC_T4O8'_P!8?:+Z&3_?T/\`SD3_`#]*?WA%_OF?_G$__0/7_]38Y^2_
MP5^;]7_,SPW\PCXF[O\`BU'+C?C)3?'R39OR"?M50S5&Z,QN#+YJ,=>X6H&E
M4GI4I[U0-Q*'2VD^Q[M?,&PCE5^6]WANZ&Z,VJ'P_P"$`#O(]#7'IT!=SV#?
M#S2O,6TRVV+81:92X\V)/:I]13/Y=(CO_P#E[_S%_P"83-U=UK\ZN\/B=LCX
MQ[([1VMVMO#KWXL[.[4K-]=DY/9DD\V&V_7[S[/K::FV]AI9*F0224M*\J>0
MMI=DCTO;?S%RURX+NZV"QNY-TDB,:O.R!4#4J0J5J<<"?V9ZK?[!S!O_`--;
M;Y>6R;<D@=DA#DO0,*%G`I@\1P]#BAC_`)?_``V^36]/FU\4_FO\7L]T,V>^
M.O57<'5E=UYWG5]@83!YND[2AHJ6/+4&<V!A-Q5T<F(IXI/V):=59@MGY-BS
M9=ZVJ#8]VV/=H[CPKF6-P\00D%#6A#E1G[>C'>=IW67==LW?:&MS-`C+IE+A
M2&##BBL?Q?+A\\`]\AOA]_,<^9N\_B<O?%?\*>N=@_'+Y4=8_)+)5W4NX^]-
MU;OW`O7DE>'VO0XO>&R]O8.)LI3Y%[5$M2OB=5-B-09=MV]<L;)!N_[N6_EN
M;FT>$"18E4:Z=U5=CBG"G1;?[-S/O<^U#<S8Q6UO<I-6)I68Z?*CH!G[1TO^
MS/A[\S]F?S%^S?G5\7<S\8]QT/;'QQV#T-FMB=]97M3;57@9=E;FJ-Q/G<9D
M>OML[E@R<=>?$@240-'=_K8$I;3>=CGY;MMAW=+M3#<M*&A$;5U"E"'9:<?*
MO2R\VG?(=^GWK9VM6\6$1LLS2+2FG(T*U?A\_7Y9,!\;NM/G7#\B>Q>X?E3F
M/B70;*W!U7MW8^U-A_'_`&KN'*;MI-RXC/2Y*LW%N'MW?&T=K;RR.WZG'SO%
M%A)&JJ."<B:+QL'\A=NEUL!VZVLMH6\,JREF:8J%H12@C1F4&OXA0TP:^1CM
M=OOGUEQ=[Q](-2!0(:G@015W17_BP69<B@%"23'X4_$+^9?\!>G<E\?NK)/@
MUVAL>+M7M3L+#;NW[O+OK:6ZZVE['WED=TI197!8#KG<.(H*K'1UHB)AJYT8
MK<$_4GF][QRMS#>+N-Y^\(KCPD0JBQ,HT"F"S@G\P.B3:=IYIV*V:PL182VP
M<L&D>4,:TXA8R!P\B?SXG%UA_*T[TVC_`"M/F/\`"S<'8O5$_=/RIWI\ANP*
M7<6"7>"=8;/RW=N9H\O28:2MR&)_O9D,?@S3%9*D4*ROJ%HS:YU=<UV$W->S
M;W%;S"QM$B2ATZV$8(K0'2":\-7Y].6W+5['RWNNTSRQ&[N69C0G0"P0$5*Z
MJ=ISI-*TH:5*O'\E?JJ3>^+EH>V.Q-A_''?%!LW/_*;X6[`KEQ/Q\^07;.QL
M;B*7%;IK:%!2Y':>V-Q5=$\VZL)CEIZ/=C0TYK5%IA*R>>+PPOJM(Y-RC+""
MY<5FBC<DE:\&9:]C&I2IIY4<CY-M4DC`N9$L&5/&@4TBD=!2M/PACE@/BH.'
M31L7^5SVILSX&_S)?B52;NZGQ^=^8O=/R<[`ZGJ\'39^@V-L':7<]+A:/9FW
MMQ4$.`@J:"7;5+B_'408VFGI8HPBP%P+!RXYLM9^8.6=X:&8I900))6A=VCJ
M68=V=1.*D$^?2>VY4N;?8.8MG62(-=SRNE*A55Z:0:+BE*8!IY5Z#KXG_`CY
MX_#S%[(DZSV#\,<KO79_6N)ZUJMV[M^7?S^W#A]PT=!CL315^5/5^Y,5N+K3
M;-1E:G$1SI%CL;#'CPQAI3'#Z2IW??\`ES>I;AKJZW`022E]*P6@TDDD#6"'
M-*TR<\34])-GV#F39(K=+2VL#+'$(]37%V=0``KH*E%)I7M&.`H.C5?([^7,
MGRL^:_0W??=^#Z=W_P!%;-^*O;_1?;/46Z:#+9VHW%NCLS)X+)T>3VQ%68?^
M'QXC#R8^;QUDE31Y.G<I)"%>Y4HVWF0[3L>X;?8R31WSW<<L<BT%%04HV>)]
M*%3Y]'U_L'[RWBQO[R*)[9+<HRFI.HZLKV^I!#:E84X5X%?G_D[]S;"^3'PS
MW'U%\K<[NWX=?%SO2?N?!]`?(*LS.^-^]73U>ULQMNNV[U#V[]I7[CS6RJF#
M)J*;";@F9,;HU15;ZF4FHYSL;C:]ZCO-I5-YNX/#,L0"J^00TD=0H;U91GTZ
M*SRE>6^X[3)9[FS;3;2ZQ%(:L@\PC:22,"BDK3B2222=C^:?\,>Q/G7\<-J]
M-=9;IV=M#<.!^0/2G;55E-\/FTP\V"ZTW1_',OCH#@,;E*TY:MI[+3!HQ"9!
MZW0<^R/E/>[;8=SEO;J)WC:WDCHM*U<"AR0*8S_@/1SS/L]QO>WQVEO(JN)0
MU6)`H%9?)6_BK2F:4J./5D_L,="/HGWSNZ3[:^1'QEWYU#TQ7=&TV\-VS8&"
M>A^1W7+]I=1;@V[29JCKL]M_<NUHF:4/D*.G_P`EK$BJ'HJI(Y5C+*&4YV"^
MM-MW2WO+T3^"E<POHD!I@JW^$5%1^PE.]V5SN&VW%I:^"97'"5=2'Y,*'SH>
M!.*"E:BA;=G\E7Y"[HVKN;;-)\,OY'.T:K<6WLS@:;=FVMC_`"9AW+MBHR^-
MJ<?%N/;\]10R4\.<PLE0*FD=T9%J(U)!`]R%#SQML,T4QWO?7"N#I+04:AK0
MYX'@>@!-R9N4T$L(V?9T+(1J'C5%12H[>(XCH^79_P#+`[AW;_);P7\L_%]L
M;-R_;F'ZTZ]V5)VANL;HBV965^T]_8?=]:Y$-+F]S)C(:"A:BHKPL^F.+4L:
MW50]9\U6<'.S\T-:.MH9';0NG5W(5]0M2<G/KD]"*^Y:NKGE#^KJW"&YTJ-1
MJ%P^J@[2:`8';Y#`ZX_&OXF?/'XO99Z[K7K'X8T#9W'[:V[N^OW)\O?GUVF]
M5@,/5QR5,^#V]VKB=V;<P66\<DTD1HXJ36Q6*23Q`6WN6[<N;HI%S>[@U"S*
M!;VB4)'F4*L1PK6OJ!TFVS:>9-K8&VL]O%0JL3<7;U`]`ZL`>/"GIPZ5O8_P
MZ^:&R/YC':_SK^+V:^,6Y*'N#X\=>=&9G8G?.4[4VS5[>DV+GI,V^<QN1Z^V
MUN:#*1Y%EC0)*(&CNWUL"6;7>MCGY;M=AW9+M6AN&E#0B-JZ@10AV6G'RKTJ
MO-IWR'?YMZV=K5O%A\-EF:1:?!D:%:OP>?K\LC]\;>L/G9!\C^Q>YOE1F_B3
M0;(W#U9@-D;6V!T!M'/Y3=]+N;$YQ:^IW%N#N+>VTMJ[SR&WJC'M)%'A)35T
MD,[++$8BK>0NW2[V`[;;6.T)>&592S-,P"T(I01HS(#P[A0\0:UP8;7;;[];
M<7F[_2`,FD"$$G%*5=T5_P"*H)89%`M#4G7PL^(O\S#X$]/9+H'JYO@SV=LF
M/M7M7L/#[MWWO/OO:>Z:RF[)WGDMUK193!X'KG/XFAJ<<E<(28:N=&*WN?J3
MO>]XY5YAO%W&\.X17'A(A5$A91H6F"9`37Y@=$VT[5S3L5LUA9+82VP<L&=Y
M58UIQ"QD#AY$^F>):>I_Y5'>>Q_Y6/S-^%6?[&ZFK>Z/E9O+Y`;]H]PX:/=Z
M]7;1RG<^0QV0H\-4U>0Q+;JR6/PST3"6H%`LCAP!$;$MN\YML)^;-FWR*VE%
ME:)$M#IUL(ZYH#IJ:\-7Y].6O+-[%RUN6T331F[N&+$J6"@D(*!BNK\)H=-1
M4<:5(9=O_P`D/MC,]!]+[%ZQ^6O<&6K=K=?[1V#WW\<>Y/D9\@LG\4.^,!28
M#'XG=>WJ.7:V8H^PNL,8U1!*<:,?%/0K3"*"6@"J3[66?/=HNXWUQ=[1`JO(
MSQ31PPBXB))*MW#0Y]:D&M3JZ07/)%T=OL(+;=9F>.-%DBDFE\"4*M",=R@G
M^B<`8&:G.[\^`6_.U^S_`.5+O78LO6G6.S_@/ORHW%O'KYLYNW<*-M9.NL3L
MC#;5ZWSLVWXJG-G#C%JBU&72ADEIPKN?(6'LCV_F&WM+7FV"?Q99MP2BO11W
M:F8LXU46M:T75G'1W>;%/<S\M2Q+'''9$:D#,0`/#H%)6K4T4SI.:GTZ$/\`
MFK_#'L/YX_%6/H?K'=.SMG[F3N+I[L1LOOI\VF";$==[QI-QY6AO@,;E:\Y"
MLI:<K3CQ>,RVULHY]IN4M[MN7]W_`'A=1.\7@R)1:5JZT'$@4]<]*>:-GGWS
M:S8VTBK)X@:K$@4`(\@WK6E,\*CCU9&45XS'*JR*R:)%<!D=672ZLK7#*P/(
M/U'L,US4="&F*'JG;XN?RK=L_'K^8C\J_ET-L],IUCV71;3JOCIL/;N(R8RO
M2.[<CC*=.[]R87!5^+BVALK(=H9FBAGJJC!LL]2B:)2BDH1GNO-DNY<N;3L_
MBS?51%A,Y(I*H)\($@ZF"`D`,,?/H(;7RO%M^_[INOA0_324,2@9C)"ZR!IH
MNHK7!/R`S6XSV"^AAU__U=JOY+_S+?Y8_P`1NP*SJSOKO79VT>Q<=%25&8VA
M2TF[]R9G"QY"!:JB.9@VW092/&/54SB1$E97*,#IL1[D7:>6>>=YLX[ZT4+:
M.*JSM&FH<*@'-,8-`#Y5Z`&Z<R<E[1=RV-TY-VAHRHDCZ32M"1BM"*BM17/1
M<_\`A]7^2]_WDEA?_0)[5_\`L<]F?]1?<#^.'_G+'_FZ+?Z[\B_[[G_YPR]#
M?T#_`#4/Y5GR;[$P?4_3_P`@=EY[L+<]5]AMG;.3H=Z;8K=PY`QM*,?AY=QX
MW&4E=7O&C%84D\CV.D$^T.X\J<^;9:37LR![>-2S%'C8JHXDJ,T'G0&@STLV
M_FKDC<;J&SA<I<2,%4.DB`D\!4XJ>`J14XX]685FQ]H4E)4U0VXU6:>"6<4M
M')52U=1XD+^&FC>LC62>2UE4L+GB_L%Q[KN4DB1_7:=1`J:`"OF3I-!Z]#&3
M;-OC1W^CU4!-!6IIY#/'TZK.RG\TC^61MKNN+X[[Z[5AZT[A;<%-MB?:'9>T
M.Q=B24&7KF*4"9#+;DQ%!@Z2AKY++!5M4_:3%AHD:_L=GD[GPVINX'BFAT:A
MX<D;EQQ[`/B)\@,^7''0)_K?R0MT+2=)89M>@^)'(@5O1B?AIYDX%:\,]6:P
M[%V340Q5%/B:2>">-)H)X:NJEAFAE4/'+%(E4R21R(P*L"00;CV`WW;=8W:.
M2X974D$$`$$<013!'F.ANNV;8ZJZ0*4(J""2"#P(-<@]$![[_F#_`,NOXU]O
M8?H+M+M+$4_<V=^R3'];[2PN]>P-UFKR<XI\;C*K%;)Q^=J*#*Y!FU14TXCF
M:/UZ0GJ]C#:>6N>-YLTO[4!;5OA,C)'J'\0#"NG^EP/ET$MTYDY+VB\>PN26
MNEIJ$:O)I)-`I*U`;^CQ_/H]6W]L;+W#AZ#-1;3R&*BR$`J(:'.T^0Q>5AB<
MGQFLQTU69Z.1U]7CD"R*#ZE!X]A:\O\`=+.YEM6W!)&0T+(592?DP%#]HQZ'
MH3VMEMMW;Q7"V#(KBH#AE:GS4FH^PYZ(;\H?YBO\M;X;;V'6WR&[MV?L?L`4
M-%DZG9T5/NS<6>QV/R2&7'UF4HMN464;&Q5L2EHO,49UY`M8^Q-LW+W.V^6B
MWUD`+1JZ6=HT#4-#I!R0#BM*?/H.;MS!R9LMT]C>/_C:TJJ+(Y%145TXK3-*
MU'18O^'U?Y+W_>26%_\`0)[5_P#L<]FW]1?<#^.'_G+'_FZ*OZ[\B_[[G_YP
MR]"YTE_-G_E.?(3L'`=6]8_(G962WUNK(4^(VS@\SC][[6?.Y:K)6EQ>-K=Q
M8O&X^?(5+C3'%Y0[MPH)-O:2^Y0Y^L;:6Z>,/$BEFT/&Q``J3I&309P"?ETJ
MLN;.1KZYBM4=DE<@+K21`2<`5.!4^I`ZM,_T?[/_`.=)!_U/K/\`ZI]@7]\[
MG_REG]B_YNAM^Z=N_P"44?M/^?JGW>G\Z7^4'UWO+=G7^\^_<7@MX;&W'F=I
M;JPE1LWLV:?$;AV_7SXS+XV::DP5122R4=;3.A:*1T8BX8CW(4?)'/TL:2(\
M6EE!'ZD?`@$>7H>@%)SGR/%(\;Q3:E8C$4A%02#0CCD'I.#^>C_)B*>0?(_$
M%/\`5C8_:VG^GU_NW;Z^[_U%]P?XHO\`G)'_`)NFOZ]<A!M)6;5Z>%+7KG3?
MSS?Y,M94TU'2_(W#SU594T]'2P)LKM,-/55<R4]-"I?;JH&FGD5020+GD@>]
M_P!1/<`D#7#G_AL?^;JW]=^1<GPY\`G^REX#)_8.KEZ#9FR,E0T61IL)&::O
MI*:MIS)+6I(8*J%)XM:&INC^.07'X/N/9MSW:WFE@DNCXB,5.%X@T/EZCH>0
M[=MD\44T=L/#=0PX\"*CSZJ_[S_FO?RMOC9VIO'I7NKN*BV1V5L*NBQ^Z-MU
M>TNQ:^3'3U--%6TK"MQ.'K\?415-).DB-'*WI87L>/8WL>4>>MQL[6_M9(S;
MS1AU)>,'2PJ*BF/LZ!=]S=R3MU[<6%RD@N8G*,!'(1J7C0C!Z"/_`(?4_DP?
M]Y(8C_T!^U__`+&_:O\`J)[@?QP_\Y(_\W2;^O'(G\$W_.*7H6>B_P";'_*Q
M^2G;&S.C^ENY\?O7L[?]?48W:NV:;:G8N.ER531T%5E*L?>Y?#T&/ITIL=0R
MRL9)5]*&US8%'?\`*7/.VV5UN%U)&+:%"[4>,F@XT`&>E=CS7R7N-Y;6-M'*
M;B9PJUCD`J>%2<#JT[_1_L__`)TD'_4^L_\`JGV!?WSN?_*6?V+_`)NAM^Z=
MN_Y11^T_Y^B!]:_/[^7=VS\B]Q?$[9_:^W9._P#:^9W)MW*=?9FDW1MZN;<&
MTZQJ'.X/&9#-4]%A\SE:25&98*2HFDEC1F0,`?8QO>7.=[#:_P!\2@-9:%<E
M&1F",`0Q4"H4`C4?PUJ<9Z"-ES'R9?;D=IB.F\ULHUJZJ64D%0Q-"20:"N:8
MST?S_1_L_P#YTD'_`%/K/_JGV#OWSN?_`"EG]B_YNA=^Z=N_Y11^T_Y^@P[D
MW-\?_C[UMNGMWN3,[=V!UULS'29/<.Y\_DJJEH:.!?3'%&#4F:KK:N4B."")
M7FFD8*BDGV8[4_,6]7L6W[:[R7+^5%``'%F)%%4>9./S(Z0;FNP;/9RW^XJD
M=LGF2U2?(*`:LQ\@,]!#\3/DO\/_`)P;/W#O[XS[BA[$VAM;/KM?,YM,3NK!
M04^>-%#D'QR0[@@QE9-+#25$;NRQE!K`U$W`,-_L.:.6GM4W6=5:8,5TLC84
M@&M!C)Z+MAW#EGF1+E]KA9EB*AM2NN6%1Q.<=&J?86RXD>63#4T<<:,\DCU-
M6J(B`LSNS5("JJBY)X`]A]=WW1F"K<L6)H``,G]G1^VU[:JEFMU"@5)J?\_5
M1_8/\YC^3YUENW-[)W-\EMF/G]NY&LQ&8CP.&[`W)04F3QU1)25U$,MA,-6X
MRHFI*F)D?Q2N`RD7]C^#DKW!FB24HD>H5H\D08?:,T^PY'GT!9^<N0X9'B#O
M(5-"4CE88QQIG[1@^72*_P"'U?Y+W_>26%_]`GM7_P"QSV[_`%%]P/XX?^<L
M?^;IK^N_(O\`ON?_`)PR]'&^*/SA_E\_-S*9K`?&?MW:'9.Y-O8X9C,[8IQN
M7"[BHL0TZ4HRAP^X*;%UD]`*B14,L2NBL0"1[(]\V7G/EZ!;K<EI:E@NM2CJ
M">`.FI%?*H`/"M>CO9MXY1W^9K;;V!N0I.AE=&H.)&JE:>="2.)QU8)_#*'_
M`)5U_P"2I/\`H_V"/&E_C/0P^GA_@_P]?__6.)\D_B%\^_C3_.)[U^<?6'P6
MI?FSU9VIC,C'MC;HSNV6P=L]MO;6+J#N3'9B+(UM)D-NU>$?Q+]H8W#HRR+R
MIR0V7?>6MTY,V_:+CF3Z&=((XW8.(Y4:,CX2U!1J<03521Z]8Y[UL',6V<Z7
MV\V_+WUUL\TCJI77&RN/,"IJM>!&"!T8/_9N/YD__?.ML#_SKV+_`/8C[0?N
MGE3_`,*E>?\`94G_`$%TO_>O,W_A++3_`+)G_P"@.BTX[YF=94_\Q7XI[?\`
MY@/\G/;OQS[LWAEMJ8+I/>.%WY&U9L4U^[):+;^[J78F!H,+A)53=DI66L<F
MM4+Z;HMO9R^TW3\MWJ\M<ZRW$"K*2SK%-J.GO0RY905P*<*\,]%,6]6L?,=J
M.8N2X[:=C$`J-)%I&OL;PJ!6HV<\:'->MT?WC+UDGU69_,>_E5_&C^9+U^^'
M[0P:;8[4PE!41]?=U;:I*6'>6UZHH3!19&0H%W-M>2:WFQU66CM=HC')9O8V
MY2YXW/E>5803-M+-W1$\*\6C)^!O^,M^(>8!?-G).V<T1&1P(MS5:+*!GY!Q
M^)?YKQ!\CJ>XCY9_S?/@3V7DOY+>%[+Z^WUV9OO.[/V/T#W/N#+5^1RO7>UM
M[O4Q8VHP&=R(GGHJ*LP\6JGI\E%4U&"E1O"9@8P)R?9^3N8H[7G6:SK&L;2-
M4$!P@-3+&/C9"I']*@!++3J#DWGF_E^>ZY)CO/U&=8P002A8@`1N::%?4M<=
MM20%/6RY_+,_DW].?!):CM[L'*S?('YB;S$N3[![YWKYLQ6467R0$N5H]AKF
M#4UN(I9IV82UTCMD*P?YQU2T8B#G#W#O=_\`$V_;=5OLO"G!Y`,=Y'!?2,8I
MQ)\I@Y1]O[/8C'N&Y$7&]<=1RD9.>RN2WK(<GRIU<S[C;J1>M.SYP_#WYW=,
M?SC]T?/GJ#X6T_S/ZKW5M*AH,1L^'.;<7&35TVPJ/:5?1;KQF:CKJNF?#U5&
MU1"5I)(I000Z$'WD7RSO_+E_R9:[-=;\+*Y2'PW.L1R*0Y(9":"A%*$$\2#G
MK'GF78.8;+G.XWJUV(WMLTOB*I76C`H!I*BIP>(T^0.1T,7^S<?S)_\`OG6V
M!_YU[%_^Q'VE_=/*G_A4KS_LJ3_H+I3^]>9O_"66G_9,_P#T!T4S?/S5Z^PW
MS/\`BA2?S'_Y+FV>A=Z;AW%@L+TON;#;]@IZO:4M;O?$T<&]Z38^W\=A,/E)
M<5NRJHV>JJ'^ZC6(>&X5@3ZVVB>39+U.5^>99T!8EW$4_=I%4\0U9013"\-6
MJG1'/O=K#OEF>9N2([=V"@*ADAQJ-&\.BJQ!J:MQTTKUNR`WY'T/(]XP=9,@
MU`(X=!%5?'_H:NJJFMK>DNHZRMK)Y:JLK*KK?9M155=5.[2SU-34389YIZB:
M1BSNY+,Q)))]FPW_`'U0%7>KL*!0#QI,`>7Q=%+;#L3,6;9;0L34DPQU)/F>
MWK2,^5FS]H8[_A3GTQLW'[2VO0[/.]>DZ)MITFWL/3;8>CJMAY!JFFDP$-$F
M)D@J6<F16A(<F[7/O)'9KFYD]N%NI+B1KHV,IUEF+U`DH=5=51Y&M104X=8W
M[W:VR>Y*VR6\8MOKHQH"@+0F*HTTI0U.*4SUNVCX[?'X$,.B^G`RD,I'6.R0
M0RD,K`C"7!4BX/X/O&_^L&_?]'N\_P"<TG_0761_]7]A_P"C)9_\X8_^@>A?
MABBIXHH((XX8(8TBAAB18XHHHU"1QQQH`J1QHH`````M[*F9G9G=B7)J2<DD
M\2>C955%5$4!0*`#@`/(=?/A^4F=W]MK_A2-OO-]8=*8_P"1>^Z#?5,^W^E<
MMF\)MW&[]GDZB2.?&5>7W%25^'IHH*9WGTS1-Y#'I6S$$97[,D+^W^WI<7K6
MT)VY0TJFAC&G+@^17C7K%'>'GC]P[Y[:Q6YF%^](SD.:X0BAJ&X$=7S83OO^
M817YO"T&8_D'=48+#UV8Q=%E\X>R>G<G_!,55U]/3Y+,?PVEVJE3D/X712//
MX(RKS>/0I!(]@([=RT`2/=.Z)_YK'_/U(*7_`#(74-[86@7_`)I#_H'J^_"]
M,]/X'(4&;P?4_6N#S6/=:FARN(V'MC%Y.@J-!7S4=;28N&KI)0K$71PP!(O[
MA^;>MXF26"7=[EX6!!5I7((]""U".I;@V?:87BGBVFV2=:$%8D!!^1"U!Z$W
MV5]&?7SQ.N?Y>>9_F$?S#/YMN"ZWWW7=9_('H_N/<?:_0V\J?(UN-HX-X4O:
M.XZ.;!Y2JH72IQT&9"P>&OB_>H:B%'&I#(C99WO,=KRWL/+EU?1EK.40Q,1D
MH&AKJT_B`TT*C)!-*TH<3[+EVYYBYAYC@L9`M]$9I$!QK*SD::^1-:@G`('#
MCU<]\$_Y\3=1XCLWXO\`\V:ER/27R8^-NW<I-6;NR^+FBB[?Q6V:0>*GCI84
M\<_865A5&I#3:J/.1N)X&5B\:Q_S-[:1[G-;;KRG)%]+<L"RZ@(U#?Z+&>'A
M^909'!1^$2%RW[DOMD-QM7-J2+>6X(5M/>Q7_0W'\?D&X'S]24GM/`_*/^=9
ML#NOYM]_8[<?2?\`+NZ$ZY[,WA\9.@I9ZW%YGNS=>W]MY1\)O[>AIIHA78RC
MKH5F-2#XBR?;TMXQ+,XEVI>7^2+G:^6K'];?+R11(^-0%*ZGXZ5_WW%_MF-<
MD.;J=]YUM-UYCO:P[):QL8TSI)X:4X:C_OR7A^%<=&Q_X2;,S_"3O)V)9F^0
ME2S$_4LVR-M$G_8D^PE[SYN^7_\`FC+_`,>7H2^RP"V7,"J*`3Q_\</6T1N/
M'39C;V>Q%.Z1SY3"Y3'02.2$CFKJ&>FC=ROJ"*\H)MS;W#]A.EK?65S(#HCE
M1C3C16!-/V=3%>PM<V5W;H:/)$ZC[64@?X>M&WX5_'C^9G_+)W5\B]FU'\I_
M$?,BD['[!@SF)WAE,_LO);=Q^-P\N:IZ6JV[)54&<J@N?AR"S2B04\B%0K(2
M+^\F-YW3E/F6WM)!SJUDJDL/"E$;-J`PX8J<>E,$GK&O9=KYIY9GNXFY+6^)
M"J?$C,@&FN5TAAGUKD`8'#H_?^S<?S)_^^=;8'_G7L7_`.Q'V'?W3RI_X5*\
M_P"RI/\`H+H0_O7F;_PEEI_V3/\`]`==?RD_E-\=^POYD7>O6&[_`.77BOA[
M\Y)L!NG-[ZW5A]^5.[$E6B&&?/[(J\2L6/Q>V(8*"HI9(::BA:E`C`L)`3[I
MS[MNYIRFES;<R-=;*BPU5HXZR*2H23Q5JSFI!))[JUKZN<A[KMLO-,EI=<NK
M:[R7FH5=R$:A+KX;450144'`BA'GUM9>X!ZGGK__UQLV_A/YC4G\P+Y@R_`7
ML[YJTE3-G]Q/4T'R+Z*Z]R.V<?M0[PD\E+TUE^WOD5B\#F-JIE]'V\]#0T-6
MV/\`#Y(52WO*BZ;83R]8_P!9HK%;6L==#,T?B:#0C0BD8U8(-#45.#UC%`N]
MC?[W^K<M\UU1Z55%D":\ZO$=P?PT(I44-`:CHW'\!_X4J?\`/U=Y?^B`^'G_
M`-TK[#=?:C^&Q_;/_FZ/_P#F*7_20_[-^JU>T,)WE%_-7^!,W\UOLWN"M[;A
MW5U^_5F.V9T9T-C$R&+'8C?W;IMUYG9?R(R])B,$V\=7W,\=!75ZTX;1$0>!
M7:MMPY8W#^J45LUIHEI1G5`VCN)JC,2!3&`305`ST%+M;X\S[=_6V6Z6[U0U
MU+&S%?$[*:74#-<FM!4T)H.M_P"]XH=94]>]^Z]UI#_.>AV/)_PI:^.M77[G
MW72;OCWO\=?X?M^CV+B,AMNK5:'(_;&LWA-V+C,ICS,I8OHP=5XBH`\FHE<F
M^7?$_P!;2.@71]#<>9K_`*+\O\O6,_,?@?ZY;ZB_B_5P<`*<8?G7_5\L[O'O
M&3K)CKWOW7NM(W=F%^?TW\T#Y4S_``)[+^:F/SDU;NADQG>71VQ<QU=C\#_&
M<6,Y!T;G>V?D+@]KYG`')A#2RT^.H:X4)<>/Q`DY3!MF/*UC_62*Q6ST1:M#
MEHRVD:2="*P8^8[J-45(SUC+(N[CFB]/+LMZUYJET@JJN!J.K,CL"*?"0!5:
M8!KT9[^`_P#"E3_GZN\O_1`?#S_[I7V':^U'\-C^V?\`S='G_,4O^DA_V;]5
M:?+'!_(E/G?\$)/YNG:/<51N.+>NV).K:/8O0WQ_I,A6X9>SMLG[7.9'9WR.
MK:3%X27=GVPGJ#2UE;'3>8P0N>/8PV5MJ&R[@>3HK9H*O@/(J>)H'Q%D9N&G
M@/3AQZ!N]+N#;[MO]<9;M9^RFI8F;1J-*:70#.KC7S/&@Z^@\+6%OI86_P!;
M\?[Q[Q,-:FO'K*]:4&GA3KOWKK?6CY\KZ'8[_P#"G'J"LK-S[KI]XIV!TD*3
M;M-L7$5FVJA5V-5K`:G>4O8M#E*-I82S.%P,_C8!07!+C)[8_$_UM(Z`:/W?
M-YYX2_+K&;?!!_KF=S/XOU\5,"G&+YU_/^6,[P?O&'K)GKWOW7NOGU_,G%=B
M57_"@3LN;XO[]WAA/E:^^*/_`$;X^#J3KO=.WJ?*+UC")S%F=]=U[/Q5942X
M,2LHJZ&!8YB%4N0&.6&QFV_J+MG[R6/]V_0+XFHM31I[JZ16E.-.L4][$_\`
M7S</W:TO[S^N?1I"5UU[:%C2M?44ZM`_@/\`PI4_Y^KO+_T0'P\_^Z5]A.OM
M1_#8_MG_`,W0N_YBE_TD/^S?H?\`XKXC^?'3?(CJ6?Y*=@[PS/14>ZX#V3C'
MZ=^,NV8JK`FEJE"SYS9/>>[=TT%.E<86<T>.J7=5*D*C,ZH-U/ME^[-Q^A6R
M^M\!_#H9JZ])TTJ*5KPKCI?M7^N1^\]O^N^N^C\9->KP-.BO=73FE/3/6RK[
M@KJ;^M3S^2U2;4@_G`?S=9L)GMPY/-5&[-R-N#&Y7:6-P>+Q,W^E_,E8\-FZ
M/>VXJO<,1E+*7GQ^+(4!M!)*K/GN/K_J-R[J`IK@IG_EW;CCJ!O;SP?Z\;_H
M+:],]:@4_P!R/+/^KCCAT;#^<</Y-Y[@^+W_``X0\"=KC?.'.V_[GQI)F7V=
M]YZT[P_ATL57'TL<IX_.U3J8/?PJ8_-[)?;X\]_NO</W(L1VZAT>.6`\3-?`
MH#4^H:D6JE3JKT>\_?U&_>>W_OPR#<-0U^"%)T>7C5(('H5K+IK0:>K./F`N
MR'_E^_(--E38:GZ\?XV[Y7;E1LVFQU9@X-K-LNM%#-MNCH:J@Q=7118XAJ:*
M.>&&0`*)$!U`*<K?7_UZVO\`>7B?O#ZK]3Q*ZM5#757->A1S-]#_`%(W/Z`I
M^[_I>SPZ:=.*::4'5*W_``E8I=JT?PQ[MBVAG=P;AQ9[ZD>2NW+M/&[-R"59
MV3MT2TZ8K%[TWW324Z(%*S&L5F+$&)=(9AE[R:_JN7]8`;P9>&?Q+\AT#/9S
MPOI>8?!+:?'3C3^$^AS_`"ZV"_E(M(_QM[X2OG[!I:5^I-_K)4]3TDE?V?3E
MMLY(13]?4,59CGK-Y12E6QL7W$'DJPBF1`=0C3E<N.8ME,:PE_J$Q*:1G.0Y
MHU!3STFGH>'4F<R!#L&[AVE"_3OF(5D&,%!45-?*HKZCK3%^!^`_G/KUEN]?
MA]VS\HYM@#L+*_QB7Y(?'GI"F[@?.?8T&@Y^#MWY/5>XXZ/^'>+P""1J'7Y/
M$;ZO>17,1Y-+V)YD2T$GAGPPS.>VN:&-0"*_(=8^[$.;P+X<N/=M%X@UE!&N
M:=M1(S-P]3]O1W_X#_PI4_Y^KO+_`-$!\//_`+I7V&Z^U'\-C^V?_-T?_P#,
M4O\`I(?]F_1<OY.&*I*/^=E\BI_DKOSM/<7S?.S=^1[UQ<O4W66S.MH\W]MM
MH[JJZS/;*[IWX9LP,9]N(:>CQL=&9"Y:8,-)7\^,?Z@TVN*']T:(*$,V(M:^
M'X:E,U[:ZF%%K@GHNY#6+^O;MN<LW[XU355E7^TTG7K97Q3N^%#5N-!UNP^\
&;.LC^O_9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
