<SEC-DOCUMENT>0000897101-12-001388.txt : 20120815
<SEC-HEADER>0000897101-12-001388.hdr.sgml : 20120815
<ACCEPTANCE-DATETIME>20120815164135
ACCESSION NUMBER:		0000897101-12-001388
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20120814
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120815
DATE AS OF CHANGE:		20120815

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INSIGNIA SYSTEMS INC/MN
		CENTRAL INDEX KEY:			0000875355
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING [7310]
		IRS NUMBER:				411656308
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13471
		FILM NUMBER:		121037504

	BUSINESS ADDRESS:	
		STREET 1:		8799 BROOKLYN BLVD.
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55445
		BUSINESS PHONE:		7633926200

	MAIL ADDRESS:	
		STREET 1:		8799 BROOKLYN BLVD.
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55445
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>insignia123351_8k.htm
<DESCRIPTION>FORM 8-K DATED AUGUST 14, 2012
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 10pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Washington, DC 20549-1004</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 20pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: center"></P>

<HR ALIGN="CENTER" NOSHADE SIZE="1" STYLE="color: Black; width: 25%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: bold 20pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: center">FORM 8-K</P>

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

<HR ALIGN="CENTER" NOSHADE SIZE="1" STYLE="color: Black; width: 25%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">CURRENT REPORT PURSUANT TO SECTION 13 OR
15(d) OF</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">THE SECURITIES EXCHANGE ACT OF 1934</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported):&nbsp;&nbsp;&nbsp;August
14, 2012</P>

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

<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<HR ALIGN="CENTER" NOSHADE SIZE="1" STYLE="color: Black; width: 25%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INSIGNIA SYSTEMS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
chapter)</P>

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

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 36%; font-weight: bold; text-decoration: none; text-align: center">Minnesota</TD>
    <TD STYLE="width: 32%; font: bold 12pt Times New Roman, Times, Serif; text-align: center">1-13471</TD>
    <TD STYLE="width: 32%; font: bold 12pt Times New Roman, Times, Serif; text-align: center">41-1656308</TD></TR>
<TR>
    <TD STYLE="font-size: 10pt; text-decoration: none; text-align: center">(State or other jurisdiction<BR> of incorporation)</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">(Commission <BR>
File Number)</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">(IRS Employer <BR>
Identification No.)</TD></TR>
<TR>
    <TD STYLE="font-weight: bold; text-decoration: none">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="font: bold 12pt Times New Roman, Times, Serif; text-align: center">8799 Brooklyn Blvd., Minneapolis, Minnesota</TD>
    <TD STYLE="font: bold 12pt Times New Roman, Times, Serif; text-align: center">55445</TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code&nbsp;&nbsp;<B>(763) 392-6200</B></P>

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

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 100%; border-bottom: windowtext 1pt solid; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">(Former name or former address, if changed since last report)</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">&nbsp;</P>

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

<HR ALIGN="CENTER" NOSHADE SIZE="1" STYLE="color: Black; width: 25%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">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:</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT>&nbsp;&nbsp;&nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT>&nbsp;&nbsp;&nbsp;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT>&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"><FONT STYLE="font-family: MS Mincho">&#9744;</FONT>&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: left"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 0pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 0pt; margin-bottom: 6pt; border-bottom: rgb(153,153,153) 3pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify"><B>Item 5.02. Departure of Directors
or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;Election
of New Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">On August 15, 2012, Insignia Systems,
Inc. (&ldquo;Insignia&rdquo; or the &ldquo;Company&rdquo;) announced that Mr. Edward A. Corcoran, 48, has been appointed a member
of the Company&rsquo;s Board of Directors (the &ldquo;Board&rdquo;), effective August 14, 2012. Mr. Corcoran&rsquo;s election expands
the Board to seven directors, six of whom are independent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">On August 14, 2012, Mr. Corcoran
received the automatic non-qualified stock option grant made to all new board members pursuant to the Company&rsquo;s 2003 Incentive
Stock Option Plan subject to the standard terms and conditions of such grants. The option allows for the purchase of 10,000 shares
of the Company&rsquo;s common stock at $1.62 per share, the closing price on the date of the grant. The options are immediately
exercisable and must be exercised within: i) ten (10) years from the date of grant; or ii) ninety (90) days after the director
ceases to be a member of the Board for any reason, whichever is earlier.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">In addition, Mr. Corcoran will receive
a pro-rata portion of the standard $10,000 annual retainer paid to board members from the date of his appointment through the date
of the Company&rsquo;s next annual shareholders&rsquo; meeting. Finally, he will receive standard fees for attendance at board
and committee meetings and conference calls of $1,000, $500 and $250, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">The information contained in this
Current Report on Form 8-K, including Exhibit 99.1 attached hereto and incorporated herein, shall not be deemed &quot;filed&quot;
for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that
Section, and shall not be incorporated by reference, or deemed incorporated by reference, in any registration statement pursuant
to the Securities Act of 1933, as amended, except as expressly set forth by specific reference in any such filing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify"><B>Item 9.01. Financial Statements
and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-family: Times New Roman, Times, Serif; width: 70%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD nowrap STYLE="width: 15%; padding-right: 0.25in; font-size: 10pt; layout-grid-mode: line; font-weight: bold; text-align: justify">Exhibit Number</TD>
    <TD STYLE="width: 85%; padding-right: 0.25in; font-size: 10pt; layout-grid-mode: line; font-weight: bold; text-align: center">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.25in; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.25in; font-size: 10pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.25in; font-size: 10pt; layout-grid-mode: line; text-align: justify">99.1</TD>
    <TD nowrap STYLE="padding-right: 0.25in; font-size: 10pt; layout-grid-mode: line; text-align: justify">Press release issued August 15, 2012 and entitled, &ldquo;Insignia Systems, Inc. Appoints New Board Member&rdquo;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.25in 0 0; text-align: justify">&nbsp;</P>

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 0pt; margin-bottom: 6pt; border-bottom: rgb(153,153,153) 3pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 5pt 0; text-align: center">SIGNATURES</P>

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">Insignia Systems, Inc.</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center">(Registrant)</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 67%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 25%; vertical-align: top">&nbsp;</TD>
    <TD STYLE="width: 6%; vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD>Date:&nbsp;&nbsp;&nbsp; August 15, 2012</TD>
    <TD NOWRAP>By:&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; vertical-align: top">/s/ John C. Gonsior</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD NOWRAP>&nbsp;</TD>
    <TD STYLE="vertical-align: top" NOWRAP>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">John C. Gonsior, Vice President, Finance</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">and Chief Financial Officer</P></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

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

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

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

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

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

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

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

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

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

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 0pt; margin-bottom: 6pt; border-bottom: rgb(153,153,153) 3pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 15%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">EXHIBIT INDEX</P>

<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD nowrap STYLE="width: 15%; padding-right: 0.25in; layout-grid-mode: line; font-weight: bold; text-align: justify">Exhibit Number</TD>
    <TD STYLE="width: 85%; padding-right: 0.25in; layout-grid-mode: line; font-weight: bold; text-align: center">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.25in; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 0.25in; layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.25in; layout-grid-mode: line; text-align: justify">99.1</TD>
    <TD nowrap STYLE="padding-right: 0.25in; layout-grid-mode: line; text-align: justify">Press release issued August 15, 2012 and entitled, &ldquo;Insignia Systems, Inc. Appoints New Board Member&rdquo;</TD></TR>
</TABLE>
<P STYLE="font: bold 12pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.25in 0 135pt; text-align: justify; text-indent: -135pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.25in 0 135pt; text-align: justify; text-indent: -135pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.25in 0 135pt; text-align: justify; text-indent: -135pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.25in 0 135pt; text-align: justify; text-indent: -135pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.25in 0 135pt; text-align: justify; text-indent: -135pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.25in 0 135pt; text-align: justify; text-indent: -135pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0.25in 0 135pt; text-align: justify; text-indent: -135pt">&nbsp;</P>



<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 0pt; margin-bottom: 6pt; border-bottom: rgb(153,153,153) 3pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>insignia123351_ex99-1.htm
<DESCRIPTION>PRESS RELEASE DATED AUGUST 15, 2012
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>EXHIBIT 99.1</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-variant: small-caps"><B><I><U>For Immediate Release</U></I></B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Contact: John Gonsior, VP Finance and CFO</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(763) 392-6200; (800) 874-4648</P></TD>
    <TD STYLE="width: 50%; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><IMG SRC="image_001.jpg" ALT="">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt/150% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Insignia Systems, Inc. Appoints New
Board Member</B></P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>MINNEAPOLIS &ndash; August 15, 2012</B>
&ndash; Insignia Systems, Inc. (the &ldquo;Company&rdquo;) announced today that the Company&rsquo;s board of directors (the &ldquo;Board&rdquo;)
voted to increase the size of the Board from six to seven members. The Board <FONT STYLE="color: black">appointed Mr. Edward A.
Corcoran, 48, to serve as a director to fill the vacancy, effective August 14, 2012. From 2000 to 2010, Mr. Corcoran served as
the Founder, President and COO of a regional waste management company located in Southeast Asia. Since 2011, Mr. Corcoran has served
in an advisory capacity in the green technology space of the waste management industry. </FONT></P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Chairman and CEO Scott Drill stated,
&ldquo;We are excited to add Ed to our board of directors. His experience in the successful management of small- and medium-sized
businesses will make him a valuable addition to our board. Further, he has a good knowledge of our business and is a significant
shareholder.&rdquo;</P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Insignia Systems, Inc. is a developer
and marketer of in-store advertising products, programs and services to retailers and consumer goods manufacturers. Through its
Point-Of-Purchase Services (POPS) business, Insignia provides at-shelf advertising products in over 13,000 chain retail supermarkets,
over 1,800 mass merchants and over 7,000 dollar stores. Through the nationwide POPS network, over 200 major consumer goods manufacturers,
including General Mills, Kellogg Company, Kraft, Nestl&eacute;, Armour-Eckrich and Ocean Spray, have taken their brand messages
to the point-of-purchase. For additional information, contact (888) 474-7677, or visit the Insignia website at <U>www.insigniasystems.com</U>.</P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0; text-align: center">####</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.25in 0 135pt; text-align: justify; text-indent: -135pt">&nbsp;</P>



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

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

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

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="image_002.jpg" ALT=""></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 0pt; margin-bottom: 6pt; border-bottom: rgb(153,153,153) 3pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+#`Q-#0T'R<Y/3@R/"XS-#+_
MVP!#`0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P``1"`"``*T#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#W^BBB@`HH
MHH`****`$)"J68@`<DGM0K*PRI!![@USWCVX^R^`M;E!P?LCJ/\`@0V_UKY6
M@OKRV_X][N>+_KG*R_R-7&',=V%P3Q$7*]K'V717R3;>,_$]H,0:_J*CT-PS
M#\B:UK;XJ^,[;&-9:0>DL*-_2G[-FTLIJ])(^H**^=+?XV^*X2/-33YQ_MPD
M?R(K6M_CWJ*X^TZ':OZ^7,R_S!I<C,GEN(6RO\SW6BO(+?X]V#8^TZ%=)Z^7
M,K_S`K6M_C?X5E`\V/4(#_M0@C]&-+E9E+!8A;Q/2:*XNV^*_@RY_P"8P(CZ
M2PNO]*UK;QKX7NR!#K^G$GL;A5/ZFE9F3H58[Q?W&]145O<P7<0EMIHYHSP'
MC<,/S%2TC(****`"BBB@`HHHH`****`"BBB@#AOB[<_9_AQJ`!YE>./\W!_I
M7S-7T'\<[GRO!EK!GF:]7\@K'_"OGRMJ>Q]#E<;4+]V%%%%:'I!1110`4444
M`%%%%`'TW\)+;[-\.--.,&5I)#^+G_"NWKGO`EO]E\":)%C!^QQL?Q&?ZUT-
M<SW/D:[YJLGYL****1D%%%%`!1110`4444`%%%%`'C7Q\N<6NB6N>KRR$?0*
M/ZFO$J]7^/%QO\2:9;@_ZNT+8_WF/_Q->45O#X3Z?`1MAXA1115G8%%%%`!1
M110`4`$G`ZGBBKFDP?:M9L;?&?-N(T_-@*!-V5SZ[TJ#[+I%E;XQY4")^2@5
M;H`P,"BN4^.;N[A1110(****`"H;JZM[*V>YNIXX((QEY)&"JH]R>E35R/Q1
MY^&FN_\`7N/_`$(4`;]AKFDZK*\>GZG9W<B#<RP3*Y4>I`-7Z^??V?@!XGU;
M`_Y<U_\`0Q7M3>*]`35O[*;6+,7_`)@B^SF4;]YZ+CUH`V**YG4/B'X1TN]:
MSO->M([A#AD#%MI]"0"!6[8:A9ZI9I=V%U%<V\@RLL3AE/XB@#YW^,]QYWQ"
MFCSGR;:)/T+?^S5Y]7H/C/0-<\4?$/6Y=+TRYNHXYQ$9$7Y`54#&X\=JY_4?
M`GBG2K9KB\T2Z2%1EG4!PH]3M)Q71%I*Q]3AYPC2C!M7LC#MK:>\N$M[6&2:
M>0X2.-2S,?8"I[_2=2TO9_:%A<VGF9V>?$R;L=<9'-7O"-[>:=XKT^\T^R:^
MNXI"8[=<YD.TC'%=+\3/$&NZZ=-_MKP_)I/E>9Y6_=^\SMSU`Z8'YT7UL7*I
M-55!)6?GK]QP%%:6D>']7U^5H]*T^>[9/O&-?E7ZGH*MW_@SQ)IEQ!!>:-=1
MR7#B.(!=P=O[H(R,^U.Z-'4@GRMJYA45HZIH.K:((CJFG7-GYN=GG1E=V.N/
MS%377A;7K*P%]=:1>0VAVGSGB(7YL8Y]\BBZ#GCIKN9%=#X#M_M7CS1(B,C[
M6C'Z*=W]*EB^'GBZ:U%RF@7?ED9&0`Q'^Z3G]*U?A7I\H^)EG#<1/%);+*SI
M(I5E(0CD'IUI-JQE6JP=*;B[V3/H2T\1:+?W0M;/5[&XN#G$45PK,<=>`<UI
MUX[X$\'>%-)\;Q7^E^,(=1O5$N+10F3D'/0YXKUC4-3L=)M&NM0O(+6!>LDS
MA1^M<Y\H6J*Y`?%+P0TGECQ%:YSC)#`?GC%=19WMKJ-JEU97,5Q`XRLD3AE/
MXB@">BBB@`KD?BA_R337?^O<?^A"NNKD?BA_R337?^O<?^A"@#RO]G[_`)&;
M5O\`KS7_`-#%<KXSBN9_B]J4-G(8KJ741'%(IP59MH!S^-=5^S]_R,VK?]>:
M_P#H8K"UW_DN\O\`V&(O_0EH&=IXE^">BZ5X.O;VRN[QM0M(&G,DC@I)M&6&
MW'&<'O\`G5+]GW4)QJ.L:;O)MS"EP$SP&!VDCZ@C\J]>\7_\B7KG_7A/_P"@
M&O$_@&ZQ>(=8D9@JK8;BQZ`!QS0![9KPU23PW<GPN]LM^PW0LV"AR<MCMD\]
M>]>=Z7XW\:>&5N1XRT._O+?`\N>"!/D/?)7Y<51N_#_CGP'HKZGH^O\`VZU,
MF]K6*$R*%;DN%.>.F<>N:Z;X:>.-<\5RW-MJVEK&D,>X7<:,BL<XVD'OWX]*
MNUD>@J:A3<DE*/W,\R\+WNGZC\9K&]TNV>ULY[HND+XRA*'(XXQG-=5\>4:2
M?0(UY9O-`^I*56O+&QT_]H6QBL(TC1G622-!@*YC)/';/!_&K7QXD,5SX?D7
MJAE8?@4JOM(Z^92Q-)K^7_,['4+BU^%_PW5K.V1Y($5%4\"69NK-^.3]!BN*
M\#?%74]<\3VVDZ[#:S073XB=(MIBD'*]^1D?6NX\3:<OQ$^'`_LV9#)<(EQ`
M2>-XY*GT[CV->=_#[X8Z]9>++74]9MA96MD_F#=(K&1^B@8)XSWI*UG<YZ*H
MNC-U?CU]30^/OW-#^LW_`+)7H.IZG!HOP]35+BW2X%I:12I&_0N`NW_Q[%>?
M?'W[FA_6;_V2NJ\=?\D;N/\`KS@_FE+HB>52HT4^K?YG.?#_`.*NK^(?%D>E
M:I#:^5<JWEM"A4HP!;').1@&NPGT>%?BI%J<<861])D$A`^\0Z@$^^#C\*\0
M^%7_`"4G2/K)_P"BVKZ0DMLZRUUCI:&,'ZMG^E.:L]!XV$:-6T%9-'SG\(!_
MQ=BW_P!VX_\`037>?$GX>^(O%GB,7SZKI]OI$*JD*3S,OEC^)L;<9)SW["N#
M^$/_`"5>W_W;C_T$TGQ!U&Y\1?%.?2]5OWM].AO%M5#'Y(8\@%\=,G.<FLCS
M3I_%_A?X7Z/X4NDL[^`ZK'$?(>*\,LDDG8%02,$]>!3?V?+N<:CK-CYC?9O)
M2;R\\!\D9'X?RK2\4>!_A[X2\&7]W''%->M;LEJ\MR9':0C"E5!QUYZ<5A_`
M*5(=;UN65PJ)9JS,>@`:F(^@J*IV&J66IAS:3B39C<,$$9Z<&KE`!6;K^BV_
MB+0KO2+IY$@NDV.T9`8#(/&?I6E10!QO@[X;:3X)O[F\T^YO)9)XA$PG=2`,
MYXP!52[^$VB7GBYO$DEW?"[:Y6YV*Z[-P((&-N<<>M=[10!5U*QCU32[O3YF
M98KF%X7*=0&!!Q[\UP%O\/M(^'V@^(-3T^ZO)9)-.EC(G=2`,$C&`.]>DUR?
MCNXBO?"NI:5;7$?VNX3R0,\+DC.<=.,TUN73MSJ^USQ7PS\6?$'ARQCL2(+Z
MTB&V-+C.Y!Z!AV^N:U[_`..FNW%NT=GI]E:.1CS"3(1]`<#\\UF0_#_3X)$6
M_P!6^8C.Q=J9]>IK0DTKP=I">7<_9F=AG]Y*78\>QXK1\I[$ZN#E*\8<S\D<
M+IOB._T[Q-%KY<7-\DIE+3Y(=B"#G'UK1\8>.=2\:&T.H06T7V7=L\A6&=V,
MYR3Z5OMJW@K3HUDM[2*:0?,JI$6;/N6X%(/'6BD@_P!EMO?ARRI@#ZU5^MC7
MVTI24XT7=?(Z?PYX1\5Z%X7&J^%O$L=U'/")TL3`"LA(Y`W$@-U';D4GAUOB
M'XH\7:<VO17-KIME,)Y5:'R4)7H,=6.<>N*H6_Q1ATH20Z9<!(P`R;X2T9/<
M%>"I]Q4W_"[998H4DA:-GR)6B0?(/49//:HL^QR_[3)-NG=OK;4A^.^IV\^K
M:7IL;JTUM&\DH!^[OQ@'WPN?Q%<WJWQ2UG6/#+Z#/:V2VSQ)$716WX4@CJV.
MP[5;F\8>&KJYDDN-+>5VD+F5XE8N3_$<\UG7&L>$KFZ,)T39`3Q/&VQ@3Z@=
MJI+35&]%.,(PG2;Y?0P/#^N7/AO7+;5K1(GGMRQ5902IRI'."/6OHKX;^*]1
M\9:)=WVHPV\12?R4$"D`C:"<Y)]:\.G7P;)$JA+N"7&7,4F\#Z9Z^O:O8OAC
MY.E^$473H;F]LYIWE$X4`]AC'J-N*4[-&>83A.GS.+3\T6/#?PHT3POXB36K
M.[OI+A`X"RNI7Y@0>BCUI?&7PIT3QA??VA)+/97Q`5YH,$2`=-RGJ?>NNAU2
MTF8*7,;D`[91M/-7:R/&/+=)^!/ANQ9WOKF[U!RA5!(0BID8R`.X[9XK9\,?
M"S1_"EQ=RV5Y?2?:H/(D65U(QD$$84<@BNYHH`RM'T*#1S(T<C.S@#)&`!_]
M<\G^E:M%%`!1110`4444`0W2S/:RK`P64J0A/0&O+?B'9S>&/!C7T=T1?RW"
M1*R=%SDG&>O2O6*\_P#BSX<UGQ-H-E::/;"=H[CS9%,BIP%('4C/6JCN;X91
M=://L>!Z6L6N>([6+6;^2*">4">Y/S%5]?\`Z_:NDUKP(-BS:/#,N('F,<EP
MEPLP5U7,4B<,<,"5(!'O5:U\%>.M!U"*^M=%O([B!MR/$JR8_`$Y&.U:%IK_
M`(GT?58+Z^T"ZC^QQRBUMX+0VT*2.,,S*%^;/<>PK5OL>_.;;3I25ETN9ES\
M/[VTL[BZFU&Q\JWE:*1HR[A2K!6R0N!@D\'&<'%7KOX8WC:M?V^FWT,MM;S"
M".24,"\FP,5.%PN`1R<#D<US\?B?6;/3I[`.D:S*Z/(T"B4JYRR[L9P35A_'
M>N2O,\DMK(TI#MOMD.)`NWS`,</CC/?`H]XIQQ'1K^K%N/X?W9M5GGU73;<>
M5#-(DC/NC24[4)PI_BXP/Y5#>>`]2L=+O;Z>XM0+262-XT+,<HVT\@87/4`D
M9%9S^*-6DA:)KA2CPPP']V.4B;<@_`_G5IO&VM.MT'E@W71?SI!`@<J[;G7=
MCH3VI^\.U?NB#PQH]OK5[>0W#R*L-C/<J8R,ED3(!]JU7^'6J"588;RPGG$T
M<,T:2,##O0NK,2`,;02<9QBL>3Q'=C6[_4[1(K5[Q)(WCC0;51QAE`QQQ4R^
M,M=2ZEN4NPDTLT4[LL:\M&I5>W3:2".]&I4E6;O%F?JFG1Z=-&L6H6E]'(F]
M9;9B1UQ@@@$'CH17TQ\,[?[-\.M&7&"T)D/_``)B?ZU\X7WB6_U""6&5;189
M(UC$<5LB"-58L`F!\O))..M?4OA>V^R>%-(M\8\NSB!^NP5%38\_,W+V48R[
MFH\:2##HK#T(H5`K$C//;/%.HK(\0****`"BBB@`HHHH`****`"BBB@`HHHH
M`AFM+:X&)[>*4?[:!OYUF7/A'PY>?Z_0M.<^OV9`?S`K9HHN4IRCLSD+CX7>
M#+D'=HD2'UBD=/Y&LFX^"GA*;/EK?0'_`*9W&?\`T(&O1:*?,S6.)K1VD_O/
M)+CX"Z4V?L^LWL?IYD:O_+%9-Q\`[L$_9M>@?T\VW*_R)KW&BGSR-8X_$+[7
MY'SS/\#O$T3#RKG3IUSSME93C\5KZ"@C$-O'$.B*%'X"I**')O<SKXJI7MS]
0`HHHJ3G"BBB@`HHHH`__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>image_002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_002.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+#`Q-#0T'R<Y/3@R/"XS-#+_
MVP!#`0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P``1"``P`KP#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#W^BBB@`K,
MUC5AI0@W>0BRLP,MQ+Y<:X&<$X/)[?0_0Z=4[VP^URPS)<2V\T.X+)&%)PW4
M88$=AV[?6@"A_;-Z1I\@L(O+O`I"&8^8@V;FRNS'&".O)QTS5*/Q:7\M#%:"
M69(Y(R+G*1ACC]X=ORD<#W)`XK9M=)M[1K<QM(?L]M]FB#-]U>,GZG"Y_P!T
M=*KIH`3>QU"[:<JJ+,VS(4$G&-N&SGG()/'H*`(CX@W>')-3C6'='*86^?=&
M")?+)#8&5[_2EL?$"31MYVV1OM7V:)K8,ZRMLW\<<8&[.>..M6CHT/\`9)T\
M33!6?S#*"N\OOWENF/O<XQCVI(=&CCN5N9+FXGG642^9)M!)",@&%4#`#'MG
M/>@!HU_3RF_?(%*AHR8F_>@L%!3CYN64<>H[$&F_V_:F]@@&X>:L@VE2)/,5
ME&W;U_B)^@STYI@\.6X2-#<W)$"!+;E?W"AE8!?EYY1?O9X7ZY=_PCMJ9DN&
MFG:Z0NPN,@/N8KD\#'10N,8QP0:`'VVMV\J3^:?+DBF,94`G(,S1(1ZY*U-8
M:M:ZB1Y!D^:,2H7C*[T/0C/4?_6]154Z%$-4L[E6/EV[3R$$\L\C[AD8P0"S
MD>G'O5NTTR"R^S^6TA^SVXMDW$<J,<GCKQ0!D6WB62:_:`BV?][<1^6C'?&(
MBXW-V(.T?]]#KS5^+7[(Z?'=3R^7D8==I.UA'YA'3/W>??(]12)H$2R@M>73
MQ+-+.D+;-JO)NR00H;^-L9)ZTA\-V+/(Q,WSVOV4C<,`8`W=/O851G_9%`%B
MPU,7]U=Q"*2,6Y08D4JV2,]#4>MZH^DVL,Z0^:&F"N,X(3!9B/4@*<#O3H-+
MDMGGF2_N'GF(9FE"$$A2H&`HX'!XQR.O6IY+)9X[43R.[V[B3?@#>P4C)&.^
M3TH`SKW7Q;ZFULBH8([22XDG))"E0"!@=?E.3]5]:G;7[!!.SM*J0+*S.86P
M?+.'QQR0?3KVS4,?A>PBLS:J\^PQS19+@G;(`,9Q_"JJH]`!UJ>;0[6:!H6>
M4*WGYP1G]Z26[>_']:`%.N6:K@B?S0Y0P^4V\$*&/'IAE.?<=SBFR^(=.A4.
M\CB)HS*LOEMM8!#)P<<_*"?TZ\4V\\/6EY.\[,ZS-(9-VU'QE%0@!E(QA%/3
M.1^%4;WPA;30S^1-(LK1,L8;;@,83",MMW8P<XSUYH`TO[<L\[,3^<6"K"86
M#MD$@@8Z85N?8CKQ4!\0VHE+F15M?+602%6R04D<\8X($9Z^XZT\Z$IG%R;V
MZ-VI7;<'9N"@,`N-N"/G8\C.3["A/#UK&(_+FN$9`,.&&<[9%W=.O[UC]<4`
M7K.\CO83+&DB@'&)$*YX!R,]1SU%4(]<4:MJ5I<HL4-HN])=V=X"*SY';&]?
MSJ73](_LV0^1<-Y3LTDJ>6B[V(4`C:```%/0<DTVZT"SO)6DE:7+7*W)VL!D
MA`FWIRI"C([T`9]EXFFFEL1=60@2X,ZR'?DPLDWEJ#QW/!/8D=N1;FUQXM`7
M4A`K.TJQ",L0/FE$?4`GOG`!]*G30[-2^X/(KK.K(Y&")9-[=O7I[4Z#24MM
M(CT^&ZN4$>"L^X>9D-NR3C!R>O&#0!F2>)WC:W7R;?YXWDE8R2!8MK!3G]WD
M8[E@H%7SK4:ZPUF4`MT@DE>Y+X`9"@9<8Z`.,G/4$>M1OX?22WDA.H7@68.+
M@@I^^#=<C;@<<`KCBG/X;TM[M;@VPR$D0H#\IWLK,2/7*_J:`*3^)YQ$A&G[
M9'NG@$;NY(4)O!(5&.<$97''//%6M8\4:9H&A1:OJ4X6VDV!6A!D#%AD;<#D
M8R<^E/CT"&V$AL;JYM'DF,K-&P;)*[<88$$<9Z9S5@Z/82:5%IEQ:Q7-I&JJ
M(YU#@[>A.>IH*CRW7-L0WVK"/3+:]M-CPW!4B=U8I&C*2'8#G'0=NO)`HCUJ
M%(;8W+*6G*JLMOEXCN;:I#8[G'';/XU;N;0SPQI#<2VIC8%&AQQP1@@@@C!Z
M8_45E?\`"*69FBE,\Y='60DA"6993+G[ORY8G.W&1@=J"2>V\06LJ0"7<DDF
MT-M4LJ%FVJ">Q)_F/458M-7MKY2]NLS)D`/Y3;6R<9!QTR.?3O5-/"]C'<QS
MHS@H4)!5#N*G(.2N1V'!&0*L6FBQV=S+<1W,QEEVAV*H"P!)P<+SG.,GG'<4
M`2WE]):WUA`+</'=2M&TI?&PA&<<8Y^Y[51U'Q"+'4EM`D+;A&5#2X>7>Y7"
M#!R1C)Y[]NM:ES9Q74EL\N?]'D,B@="2C)@^V'-49O#UJ\C>2[VT,@198(51
M4<*Q(_AR.2>A%`%1O$<T:+*]FGE7"N;3$W+D.J*&^7Y=VX'C.!FK8U>6.QU&
M2>W7[38[@T43[A)A`XVD@'D,!TZYZTP^'+=@ZO<W+1[76%,J!!N8.2O&<@J,
M9SC%2'P_9RVUS'=;KF:XW%[B15\P94+\I``7Y0!P.W.:`*T&ORW-E=7,"6,D
M5J<R3+<MY17;N.&"'D=QC\>PET[7);R\BMYK,0%K8RR-YF0L@*AD'`S@N!GU
M!&.*E&B1O',+BYGG:=XVD=]H+!#D+A5`QUSQDY/-'_"/:9]M%U]F4L$=#&>4
M.XAB2I[Y'ZT`0W_B&.QO)8S#OMX+66>68/C!0*VP#OPV<Y&..O.&0^()397$
MDEO$9TVB**.1OG+`D#YE!`X)W8(P"1T(J6;PQI,TF\VP13'+$40[5(DQNX_#
MMZTH\/6LC227DDMY,ZA!++M#*H!P!M`'\3'IWH`J?\)/_I-K$8(E:=8&$338
MD?S.Z#'S!><\CH>G>SJ/BK2=*UVPT:[N&2]OO]2@0D'G`R>V3Q21>&K6!8XH
M;BX2W7RBT.5(D,>-I)(R/NC.".GUK1FT^RN+N"[GM()+F#/DRO&"\>>NT]10
M5'EO[QEZMKKZ=J#VZM:#9;B<)-(5:8DL-J8[_+Z'KTJ6V\0V[QRM=));>6TH
M)=#MPF<\],X&<?7T-:*VD:W[W@+>8\2Q$9XP"2/Q^8U4GT.TN;<P2F4QF260
M@-CF0,&[?[9Q^%!(AUVS!"%+CSF?8(?(;?G:6'&.F`>>G!'7BE37;"22)4E=
MEDV8D$9V@N`4!.."<CCW'J*6'1XX[M+N6XGGN58-YDFT9`5E`PH`P-S'ZFJT
M'ABQM[B&6-G'EB/(*H2Q0`*2VW<.%7."!Q]<@&G)+,]J)+6)6D/1)V,?'OP2
M/RKGK/Q7-=3QQFTMT&]`Y\]B,.Y"$'9@97##=C.[`YKH)K7S["2TDGF_>1F-
MI00'Y&,C`P#^%4YM"MY9]Z2RPQ-Y?F01[0DGEG*YR,CL.".`*`&V6K33:E+9
M74,$4B1"1A'-O,63PK\``D'(P3T/L35NO$-Q9W,T,UI!N2)I0J7&2BAU53)\
MN%!W9SS@`]<5<BT*#S0]W-+?!(S%&MT%<*I(/]T;C\HY;)X^N4.AAI"[:A>L
M55UARRYAW$$X.W)Z`?-GCCF@"H/$-P]I>2Q0V;FR=EGD^TGRL!%<8(4DD[L=
M."#[9LZCK?V.&S"0@W%TV%B<G*?*6.0H))&,8`_0&F/X<C=4_P!/NU<3>>[*
M(\2.`%4E2A&%"C``'//)YJS<:-;S/'/$QM[M&W_:8D0.QVE3NRN#D$]J`*RZ
MS='[#+]D@,%T8T!2XW,S,,DH`O*J.<G'`)QQS77Q)/Y$$KV48^V1)+9@3'Y@
MSH@#_+\N/,0G&>I].;=MH$=I=PW$5]=_NHQ&L;>6RXSENJ9!8\D@C/'H,,7P
MW;K$(S=7++&BQVV2N;=58,`OR\X*I][/W1GOD`E&M1VVEW]YJ(6W%@6%QL)=
M0`H;(X!.5(.,=\57B\46>H>$I-?TQQ+`(V9?,!7E3@@CMR*T;;388+6:"4FY
M$[,T[3`'S">#D``8P`,8Z"D;2;,:4VF00I;6A78(X%"!1UX&,"@KW>7S*B:[
M#!9_:+N:.5,MF2VC9D10!DL>W7_.#5M-5M))I88V=YHB1)&L9+)@@<C'&<Y'
MJ.1D57U?0;;6=OGR2)B)XOD"GY7QG&Y3@\=1@U+'I$4-W-=Q7$Z7$P(E<%3O
MYRN001\HX'L3UH)$UB^NM.LWN;>W@G"#E9)BC,QP%5<*<DDX[<D5GV7B&YOY
M'6WM(')$GE+Y[`L48*>2N".YVDD<9&3BMFYLX[MK<REL0RB4*#PS`'&?7!.?
MJ!6>/#\2OE+V[14+M`J,H\EF;<2IVY//9LC!(QB@!]AJTE]8W4L<4,DT+M'&
M(ILI,0H/RL0.,G:>."#UJE_PD<VYH?*LQ(LYA,QN2(,A-Q&[;]X=,8_'@BKZ
M:';".<RO)+<S,7-TP42HQ4+E2`-N`J]/3O3/[$/SO_:5W]H=@SS8CRP`P`5V
M[<=^F<]^U`$$&OS7,>GW*6D?V6\**N9LR%B"6VKC!"X.22.`3V&77VO_`&?5
M?L4,<3A%C>5WD(P'8J.0I`Z'[Q`)P/I)!X?BMKJ&:*\NMD4*PK"WEL@0=1RI
M/S=2<Y/'H*6;P]:22,86>VBD14FA@5%255)(!^7(^\>F,@T`-&IZA]MEM/L$
M)E\HRQJMQ]T;PJ^8=N%R,GC/W6'..8)-=O4TR6\6RMV6!I1(WGD(Q0X`3Y<D
ML<CIU!'/&9UT`K#>1C5;\&[),C@Q!P2>S!,]/E'H.G:A]`#Q6<8U*[5;0DQJ
MJ0A<\;<KY>/EQQQQGZ8`$\0^*=*\+V<%UJTS0QSR"-,(6.<9Z#T%:$^H6UM@
MS2;08GF!P<;5P3^A''U]*+S3K/484BOK6&Z1&#JL\8<!AT.".M,U#38-22!9
M]X$,HE7:<9(R,'U!!((]#04^7E5MR./6K"5X46;F:-94)4@;65F&2>APC'!]
M*2#7-/N#:B*5C]I&4RC#'7ALCY3E6&#CD$5"_ARQDM+BV)E"3W!N&(89!)Y4
M''"D9&/1C3I?#]G+%?1[YD^V.KLR/@QD'(V<<?-EN_+&@DL6>K65^(3;2EQ,
MKLGRD9",%8\^Y'US4%OKUG-Y"[G+2+&2ZQ-L!<`KR1QG/\L]:DM](M[2\FN;
M=I(FFV;E7&T!1C`!'`/&<>E,@T.UM[9($>4HIA()89_=;=O;_9&?Z4`-CU^R
MF@CN$D9+=SD22QLJLNQFR#C'12?;OU%`\0V1?R]MR)B4"Q&W<,V\,5P".X1O
MICG%0?\`"+V96;S)))FE'S[PJA_D=?FVJ,DB1LGJ>.>*;IVB7*7OVW4;EY9D
M\L1@2!_N+(.3L7KYK=L\#DT`6_[;M2-ZEY$,<<BJD3%L-OZC''W#UZ8^E-'B
M+3F5W1Y7C2(2O(D+%54IY@SQQ\O/Z=>*BE\,V<AC/FS`Q[<9",/E\S'#*1_R
MU;\A^+K?PY:V\UFXFFD6TC6.)7"'`";,%MN<$<D9QGM0!-<:Y8V]S]G+222\
M_+%&SG@!CT'.`RG`YY%,_MZV$L\317`>*?R`OE$F0[`Q*^V#U_Q%4X?"T/\`
M8D.GSSO@!O,VA7#%O=E)^4`!3P0!5FZ\.VMU,\KRR;C+YJY5'"G8$.`RG((`
MZYY%`#SXBT_"LK3.A$?SI"Y7Y\;!G'4Y`^IYQ3EUVR>2*)?.:23/R"%BR8;8
M=PQQAN/UZ<TL6B6L,'DJTNW?"_4=8BI7M_LC/X]*BN/#UM<D;YI@@E:4KA#\
MQ;=D$KE3GC((./SH`N7.I6]K.L+^8SE=Y$<9;8N<;FQT&?Y'T-5CX@T]0S,\
MH4`E6\IL2`,$)3CYOF91QZ@]*DETOS;CSUO;F.0KLD9-@+IN+!3\O&,D`C!P
M3R3S4"^'K8&,-/<-'"-L$9*XB7>KX'&3RBCG/`H`F@UJTN+A8%6=)#(8L20L
MH#A=VTDCKM&?I6C5+^S(/M'G[I-WVC[3C(QN\OR\=.F/UJ[0`4444`%%%%`!
M1110`444C.J_>8#ZF@!:*A:[MD&7N(E^K@54EUW2X?O7D9_W,M_*@#1HK#D\
M5Z:H.TRN>V$Q_.J+^,U#'98DKV+28/\`*@#JJ*Y(^,W[6*_]_?\`ZU,;QE.1
M\EI&#[L318#L**X9_%FHLY*B)0?X=N<5&WBG5#TEC7Z1BG8#O:"0`23@"O.9
MM=U.<Y:\D'&/D.W^51C5M1'2]N/QD)HL!Z0KH_W64_0T22)$A>1U11U9C@"O
M+&8LQ8GDT%V(P6)'H318#TF75M/A_P!9>0@]<!L_RJ`^(=*'_+XO_?+?X5YY
M1181Z(/$&E'_`)?$_(_X4\:WIC=+V'\6Q7G%2Q6MQ.I:*"211U**3C\J+`>B
MC5M./2^M_P#OX*#J^G+UO;?_`+^"O.9()HAF2*1!TRRD5'189Z')X@TN,<WB
M'_=!/\A5=?%6F,<%Y5]RG^%<)1181Z`WB72EB+BY+8_A"')_,547QA8G.Z"X
M7GC`!_K7&+%(Y`1&8GT&:N?V+J6%/V*;#=/E_P`XHL!T%SXQC5A]FMBX[F0[
M?Y9JO_PF5P3Q:Q#ZL:I-X7U0,`(D88ZAQ@4]?"UX,B5T0XRN`7S^0XHT`O+X
MMF;JMJOUW_X5*/%:A27:,GT2)N?Q)%8Y\-ZB6(CC#X[\K_Z$!4+:#JB'#6<G
MX8/\J`-K_A,R#_QX@C_KK_\`6IC^,Y"I$=DJMV+29'\JSHO#6I3)N$07V<[3
M^M2#PIJ9ZK$/J]&@%J/QE<C_`%EK$W^Z2/\`&K2^,H2/GM)%/^RP/^%9Q\)Z
M@!EI+9?JY_PJE?Z+=Z=$LLOEO&3MW1MD`T:`:7_"7W:SY\N-X<]-NUB/S-3P
M^,F'$UGGG@J^/Z5RN">@JU!9K-$7>ZAAYP`^>?R!Q0!U`\96O\5K,/H0:CN/
M%T#@>3'<IP>FT9/X@UFP>'XKF`^3JEM)/CB-3U_'K^E5)M"U.`X:TD;W3YOY
M4`6Y/%-^9`T3E5'57"MG\@*4^+-2+9'D@?W=G'\ZI6PCM`ZWNF22[NA9F0K]
M.*O01Z).?FM;^,^B_,/\:`)?^$QO-@!MX=WKSC\LU*/&<GF@FS3R^X#G/YXJ
M,Z;932A+2QN".[3^8H/TPI_6KLGA*"2US&S0W&,XW[ES^0-`Q8_&%LRMOMY$
M8#*C.03Z4J>,;0_?MIU^F#_6N:N=(O;6<0O`S.W(V*3G]*<FA:G(JLMHY#=.
M0/SYXH$=.?%VGA"1'.6[#:/\:>OBS3&ZF9?JG^%8-KX5U"9QYP2!.Y8Y/Y"K
M%UX0N4(-K,DHQR'^4YHT&:TGBO3$4%3+(<]%3D?G3/\`A+M/[QS_`(*/\:YF
MXT+4K92TEHY4=2F&_E5$Q2!@IC8$]`1UHL([=?%>F'J91]4I)O%=@D9:$F1A
M_"P*Y_0USL/AO49[=9DC3##(5FPWY&D/AK505'V;KWWKQ^M`S:7QE`?OVD@^
MC`U83Q=IS?>2=/JH_H:YY_#.JH,B!7_W7%1IX?U1R1]D88_O$"@1U/\`PE6E
MY`\R3GOL/%0GQ?IX8CRKDCUVCG]:YEM$U%6V_978]]I#8_*EFT._AA,K1J5'
M7:X)'X4`=0GBS36Z^<OU3_`U:B\0:7+TNT4_[8*_SKB/[)U#RP_V*?:?2,TL
M.E7L[!4A^8_PE@&_(G-%@.S/B72Q(R&X((.,["0?Q%2+K^E/TO$'U!']*YV#
MPG-*!ON1&WH8C_.ICX,E[7J'ZQG_`!HT&=$NK:<_2]M_QD`J=+JWD^Y/$W^Z
MX-<;<>%+F!`QN82"<#Y6SGZ`&HF\+:FHRJ1O]'Q_/%`'=@AAD$$>U#.JXW,!
MGIDUYL]K=6$^R200.#\VV4$C\`<UJ#0)M07S8]4@N7QW<D_XT6`[8$'H<T$@
M=3BO.KG1+^U?:\2D_P"RX/Z9S546UVWR"&8^P4T6`]/HKSF"PU;(\FWNU]PK
M+5E3K-O-Y,U]);/C($\I`/T/2BP'>T5Q^?$T:;XY3,G]Z,H^:A&M>($<HR2%
MAU!@Y_E18#MJ*X=O$^K1'$@13_M1XJW9^,'4;;R#=S]Z+C]#18#K:*Q8_%6E
MO]Z22/\`WD/],U!<^*HHOFAA2:,=2)@I_(C-(#H:*P4\6:>8D9Q*KDX90N=O
MXU<&OZ6PR+Q/Q!']*`-*BJ*ZSIK=+V#\7Q4R7UG)]RZ@;Z2`T`6**:)(VZ.I
M^AI<@]Q0`M%%%`!1110`4444`%%%%`!6??ZS9Z<ZI.[;F&0%7-5=<;47BV6>
M4(ZE%8L?H0.*YJ6'7IHRDL-TZG@Y3D_C3`V+OQA"J$6<#,_]Z3@#\!UK%/B/
M4VF$C7!*@YV`;0?;CFH%T;4F8`64^3ZKBI1X?U3>JFT<9.,Y!Q^M`BR_BO46
MFWXA"8P8]F0?Z_K6;>7]Q>RLTCD*>B*?E'X5LKX.O"?FN(`/;)_I5^U\(6J)
M_I,LDC_[!P/Y4`<;17?P^&=+A8L86D]/,;(%7AI]DJ;!:0;?3RQ1<#S*I8(#
M-*J%A&&Z,RDC]`:],2UMXEVQP1JOHJ`5(JJHPJ@`=@*+C."/AK4=PV(CH>CJ
MW'Y=?TJ_%X/D`!GN<^JQ+G]2177T47`YF3PC;&W)@>83=O-<`?H#42>#/E&^
M]PW<"/C^==712N!R3>#&_@O@?K'_`/7IJ^#I]XWW497O@$&NOHHN!Q\W@VX#
M?N;J)E_VP5/Z9J>+P;&&_?7;$>B+C^==311<#!3PEIR]6G;ZN/Z"KMOH6F6Z
MD):1MGJ9/F_G6C10!FOH&ER')LT'^Z2/Y&G6^AZ=:S++#;!77D$L3C\S6A10
M!5ETZWGG\V5?,/HX##]1Q^%-?2K!P0;2'![!`/U'-7**`*<6DZ?#]RSA'N4!
M/ZU96*-1A8T`]E%/HH`0``8`Q2T44`%%%%`!1110`4444`,DBCE7;(BNOHPR
M*B6PLU^[:0#OQ&*L44`-6-$&%15'L,4C0Q.A1HT9&.2I48-/HH`C2WAC^Y#&
MO^ZH%2444`%%%%`!1110`4444`%%%%`!1@>E%%`!1110`4444`%%%%`#&BC<
MY9%)]2*<0",$9%+10`UXT=-C(I7T(IU%%`!1110`QXHY/OQJWU&:JC2+`.7^
MRQDG^\,_SJ[10!6_L^T'2!1].*EC@BB7:D:J,YX%244`%0W-I;W:!+B%)%'3
M<,XJ:B@""*SMX(?*BC$:XQ\A(/Y]:E1-BA=S-CNW6G44`(RJXPRAAZ$9JC/H
MNFW'^LLXL^JC;_*K]%`&9#H%A"1MCRO]QPK#]1G]:F72-.5MPLH`?]P5=HH`
MI7>DV-Z@6:W4XZ%?E(_$4P:'I@0)]CC(]2,G\ZT**`,B7PSI<@.VW*-V*NW^
M-4HO"L*MDNZ.._RNA_`BNDHH`QCH\JQ[`MC,@&,26^T_F#5%_"\RJL]K<""Y
M!SM#$J/H<`C\JZ>B@#F[6/Q-%.D<CHT6<%VVM@>O8FM*Y75EBS'<6Y8?W8#D
M_P#CQK2HH`YP:GKMNV9M/66,'[R@J?YG^5;"7P`031-&S<`#D'\:L^5'YGF;
M%WXQNQSCZTZ@`IBRJQ&T$CUQTI]0RVEO/S+!&Y]64$T`3453&EVBG*(\9_Z9
..R,O\C5L#``R3CUH`_]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
