<SEC-DOCUMENT>0001193805-12-000502.txt : 20120315
<SEC-HEADER>0001193805-12-000502.hdr.sgml : 20120315
<ACCEPTANCE-DATETIME>20120315170940
ACCESSION NUMBER:		0001193805-12-000502
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		19
CONFORMED PERIOD OF REPORT:	20111231
FILED AS OF DATE:		20120315
DATE AS OF CHANGE:		20120315

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GULF RESOURCES, INC.
		CENTRAL INDEX KEY:			0000885462
		STANDARD INDUSTRIAL CLASSIFICATION:	CHEMICALS & ALLIED PRODUCTS [2800]
		IRS NUMBER:				133637458
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34499
		FILM NUMBER:		12694867

	BUSINESS ADDRESS:	
		STREET 1:		99 WENCHANG RD, CHEMING INDUSTRIAL PARK
		STREET 2:		UNIT - HAOYUAN CHEMICAL COMPANY LIMITED
		CITY:			SHOUGUANG CITY, SHANDONG
		STATE:			F4
		ZIP:			262714
		BUSINESS PHONE:		(310) 470-2886

	MAIL ADDRESS:	
		STREET 1:		99 WENCHANG RD, CHEMING INDUSTRIAL PARK
		STREET 2:		UNIT - HAOYUAN CHEMICAL COMPANY LIMITED
		CITY:			SHOUGUANG CITY, SHANDONG
		STATE:			F4
		ZIP:			262714

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DIVERSIFAX INC
		DATE OF NAME CHANGE:	19940331
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>e609486_10k-gulf.htm
<DESCRIPTION>FORM 10-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt">FORM 10-K</FONT></P>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Wingdings"><B>x</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934</B></FONT></TD></TR></TABLE>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the fiscal year ended December 31, 2011</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-family: Wingdings"><B>&uml;</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934</B></FONT></TD></TR></TABLE>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the transition period from ________________ to ________________</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Commission file number 000-20936</P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Gulf Resources, Inc.</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 48%; text-align: center">Delaware</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 48%; text-align: center">13-3637458</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: center">(State or other jurisdiction of incorporation or organization)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(I.R.S. Employer Identification No.)</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">Cheming Industrial Park, Shouguang City, Shandong, China</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">262714</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">(Address of principal executive offices)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>+86 (536) 567-0008</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section 12(b) of the Act:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-decoration: underline; text-align: center">Title of each class</TD>
    <TD STYLE="width: 50%; text-decoration: underline; text-align: center">Name of each exchange on which registered</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">Common Stock, $0.0005 par value</TD>
    <TD STYLE="text-align: center">NASDAQ Global Select Market</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Securities registered pursuant to section
12(g) of the Act:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes&nbsp; </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
&nbsp;&nbsp;No </FONT><FONT STYLE="font-family: Wingdings">x</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes&nbsp; </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
&nbsp;&nbsp;No </FONT><FONT STYLE="font-family: Wingdings">x</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),
and (2) has been&nbsp;&nbsp;subject to such filing requirements for the past 90 days.&nbsp;&nbsp;Yes&nbsp; </FONT><FONT STYLE="font-family: Wingdings">x</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
&nbsp;&nbsp;No </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (&sect; 229.405 of this chapter) is not
contained herein, and will not be contained, to the best of registrant&rsquo;s knowledge, in definitive proxy or information statements
incorporated by reference&nbsp;&nbsp;in Part III of this Form 10-K or any amendment to this Form 10-K </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of &ldquo;large accelerated
filer,&quot; &quot;accelerated filer,&rdquo; and &quot;smaller reporting company&quot; in Rule 12b-2 of the Exchange Act. (Check
one):</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Large accelerated filer </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accelerated filer </FONT><FONT STYLE="font-family: Wingdings">x</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Non-accelerated filer </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Smaller reporting company </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Do not check if a smaller reporting company)&nbsp;&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Act).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Yes&nbsp;
</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"> &nbsp;&nbsp;No
</FONT><FONT STYLE="font-family: Wingdings">x</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">State the aggregate market value of the voting and non-voting
common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average
bid and asked price of such common equity, as of the last business day of the registrant&rsquo;s most recently completed second
fiscal quarter. As of June 30, 2011, the aggregate market value of the common stock of the registrant held by non-affiliates (excluding
shares held by directors, officers and others holding more than 5% of the outstanding shares of the class) was $55,380,225 based
upon a closing sale price of $3.10.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY PROCEEDINGS
DURING THE PRECEDING FIVE YEARS:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Section 12, 13 or 15 of the Securities Exchange Act of 1934 subsequent to the distribution
of securities under a plan confirmed by a court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Yes&nbsp;
</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"> &nbsp;&nbsp;No
</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(APPLICABLE ONLY TO CORPORATE REGISTRANTS)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
the number of shares outstanding of each of the registrant&rsquo;s classes of common stock, as of the latest practicable
date.&nbsp;&nbsp;&nbsp;As of March 9, 2012, the registrant had outstanding 34,560,743</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">shares
of common stock.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Portions of the Registrant&rsquo;s Proxy Statement relating
to the Registrant&rsquo;s 2012 Annual Meeting of Shareholders are incorporated by reference into Part III of this Annual Report
on Form 10-K.</P>

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt 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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="text-underline-style: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="text-underline-style: none"><B>Table
of Contents</B></FONT></P>



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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 10%; font-weight: bold">PART&nbsp;I</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 85%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Item&nbsp;1.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Business</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">Item&nbsp;1A.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Risk Factors</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">11</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Item 1B</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Unresolved Staff Comments</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">24</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">Item&nbsp;2.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Properties</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">24</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Item&nbsp;3.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Legal Proceedings</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">32</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">Item&nbsp;4.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="color: windowtext">Mine</FONT><U> </U>Safety Disclosures</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">32</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-weight: bold">PART II</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">Item&nbsp;5.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Market for Registrant&rsquo;s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">33</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Item&nbsp;6.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Selected Financial Data</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">35</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">Item&nbsp;7.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">36</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Item&nbsp;7A.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Quantitative and Qualitative Disclosures About Market Risk</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">56</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">Item&nbsp;8.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Financial Statements and Supplementary Data</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">57</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Item&nbsp;9.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Changes In and Disagreements With Accountants on Accounting and Financial Disclosure</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">58</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">Item&nbsp;9A.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Controls and Procedures</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">59</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Item&nbsp;9B.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Other Information</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">60</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top; font-weight: bold">PART III</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Item&nbsp;10.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Directors, Executive Officers and Corporate Governance</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">60</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">Item&nbsp;11.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Executive Compensation</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">60</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Item&nbsp;12.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Security Ownership of Certain Beneficial Owners and Management and Related Stockholder&nbsp; Matters</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">60</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">Item&nbsp;13.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Certain Relationships and Related Transactions, and Director Independence</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">60</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">Item&nbsp;14.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Principal Accounting Fees and Services</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">60</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">PART IV</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Item&nbsp;15.</TD>
    <TD>&nbsp;</TD>
    <TD>Exhibits and Financial Statement Schedules</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">61</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="3">Signatures</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">63</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<I>&nbsp;</I></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Special Note Regarding Forward Looking
Information</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This report contains forward-looking statements
that reflect management's current views and expectations with respect to our business, strategies, future results and events, and
financial performance. All statements made in this report other than statements of historical fact, including statements that address
operating performance, events or developments that management expects or anticipates will or may occur in the future, including
statements related to future reserves, cash flows, revenues, profitability, adequacy of funds from operations, statements expressing
general optimism about future operating results and non-historical information, are forward-looking statements. In particular,
the words &quot;believe&quot;, &quot;expect&quot;, &quot;intend&quot;, &quot;anticipate&quot;, &quot;estimate&quot;, &quot;plan&quot;,
&quot;may&quot;, &quot;will&quot;, variations of such words and similar expressions identify forward-looking statements, but are
not the exclusive means of identifying such statements and&nbsp;their absence does not mean that the statement is not forward-looking.
Readers should not place undue reliance on forward-looking statements which are based on management's current expectations and
projections about future events, are not guarantees of future performance, are subject to risks, uncertainties and assumptions.
Our actual results, performance or achievements could differ materially from the results expressed in, or implied by, these forward-looking
statements. Factors that could cause or contribute to such differences include those discussed in this report, particularly under
the caption &quot;Risk Factors&quot;.&nbsp;&nbsp;Except as required under the federal securities laws, we do not undertake any
obligation to update the forward-looking statements in this report.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 1. Business.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We manufacture and trade bromine and crude
salt, and manufacture and sell chemical products used in oil and gas field exploration, oil and gas distribution, oil field drilling,
wastewater processing, papermaking chemical agents and inorganic chemicals. To date, our products have been sold only within the
People&rsquo;s Republic of China.&nbsp;As used in this report, the terms &quot;we,&quot; &quot;our,&quot; &quot;Company&quot; and
&quot;Gulf Resources&quot; refers to Gulf Resources, Inc. and its wholly-owned subsidiaries, and the terms &ldquo;ton&rdquo; and
&ldquo;tons&rdquo; refers to metric tons, in each case, unless otherwise stated or the context requires otherwise.&nbsp;&nbsp;All
information in this report gives retroactive effect to a 4-for-1 reverse stock split of our common stock effected on October 12,
2009.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The functional currency of the Company&rsquo;s
operating foreign subsidiaries is the Renminbi (&ldquo;RMB&rdquo;), which had an average exchange rate of $0.14661, $0.14787 and
$0.15482 during fiscal year 2009, 2010 and 2011, respectively. The functional and reporting currency of the Company is the United
States dollar (&ldquo;USD&rdquo; or $&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Corporate History</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We were incorporated in Delaware on February
28, 1989. From November 1993 through August 2006, we were engaged in the business of owning, leasing and operating coin and debit
card pay-per copy photocopy machines, fax machines, microfilm reader-printers and accessory equipment under the name &ldquo;Diversifax,
Inc.&rdquo;. Due to the increased use of internet services, demand for our services declined sharply, and in August 2006, our Board
of Directors decided to discontinue our operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upper Class Group Limited, incorporated
in the British Virgin Islands in July 2006, acquired all the outstanding stock of Shouguang City Haoyuan Chemical Company Limited
(&quot;SCHC&quot;), a company incorporated in Shouguang City, Shandong Province, the People's Republic of China (the &ldquo;PRC&rdquo;),
in May 2005. At the time of the acquisition, members of the family of Mr. Ming Yang, our president and former chief executive officer,
owned approximately 63.20% of the outstanding shares of Upper Class Group Limited. Since the ownership of Upper Class Group Limited
and SCHC was then substantially the same, the acquisition was accounted for as a transaction between entities under common control,
whereby Upper Class Group Limited recognized the assets and liabilities transferred at their carrying amounts.</P>

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

<!-- Field: Page; Sequence: 3; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 12, 2006, we, then known as
Diversifax, Inc., a public &quot;shell&quot; company, acquired Upper Class Group Limited and SCHC. Under the terms of the agreement,
the stockholders of Upper Class Group Limited received 13,250,000 (restated for the 2-for-1 stock split in 2007 and the 1-for-4
stock split in 2009) shares of voting common stock of Gulf Resources, Inc. in exchange for all outstanding shares of Upper Class
Group Limited. Members of the Yang family received approximately 62% of our common stock as a result of the acquisition. Under
accounting principles generally accepted in the United States, the share exchange is considered to be a capital transaction rather
than a business combination. That is, the share exchange is equivalent to the issuance of stock by Upper Class Group Limited for
the net assets of Gulf Resources, Inc., accompanied by a recapitalization, and is accounted for as a change in capital structure.
Accordingly, the accounting for the share exchange is identical to that resulting from a reverse acquisition, except no goodwill
is recorded. Under reverse takeover accounting, the post reverse acquisition comparative historical financial statements of the
legal acquirer, Gulf Resources, Inc., are those of the legal acquiree, Upper Class Group Limited. Share and per share amounts stated
have been retroactively adjusted to reflect the share exchange. On February 20, 2007, we changed our corporate name to Gulf Resources,
Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 5, 2007, we acquired Shouguang
Yuxin Chemical Industry Co., Limited (&quot;SYCI&quot;), a company incorporated in the People's Republic of China, in October 2000.
Under the terms of the acquisition agreement, the stockholders of SYCI received a total of 8,094,059 (restated for the 2-for-1
stock split in 2007 and the 1-for-4 stock split in 2009) shares of common stock of Gulf Resources, Inc. in exchange for all outstanding
shares of SYCI's common stock. Simultaneously with the completion of the acquisition, a dividend of $2,550,000 was paid to the
former stockholders of SYCI. At the time of the acquisition, approximately 49.1% of the outstanding shares of SYCI were owned by
Ms. Yu, Mr. Yang&rsquo;s wife, and the remaining 50.9% of the outstanding shares of SYCI were owned by SCHC, all of whose outstanding
shares were owned by Mr. Yang and his wife. Since the ownership of Gulf Resources, Inc. and SYCI are substantially the same, the
acquisition was accounted for as a transaction between entities under common control, whereby Gulf Resources, Inc. recognized the
assets and liabilities of SYCI at their carrying amounts. Share and per share amounts have been retroactively adjusted to reflect
the acquisition.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To satisfy certain ministerial requirements
necessary to confirm certain government approvals required in connection with the acquisition of SCHC by Upper Class Group Limited,
all of the equity interest of SCHC were transferred to a newly formed Hong Kong corporation named Hong Kong Jiaxing Industrial
Limited (&ldquo;Hong Kong Jiaxing&rdquo;) all of the outstanding shares of which are owned by Upper Class Group Limited. The transfer
of all of the equity interest of SCHC to Hong Kong Jiaxing received approval from the local State Administration of Industry and
Commerce on December 10, 2007.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result of the transactions described
above, our corporate structure is linear. That is Gulf Resources owns 100% of the outstanding shares of Upper Class Group Limited,
which owns 100% of the outstanding shares of Hong Kong Jiaxing, which owns 100% of the outstanding shares of SCHC, which owns 100%
of the outstanding shares of SYCI. Further, as a result of our acquisitions of SCHC and SYCI, our historical financial statements,
as contained in our Condensed Consolidated Financial Statements and Management's Discussion and Analysis, appearing elsewhere in
the report, reflect the accounts of SCHC and SYCI.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 12, 2009 we completed a 1-for-4
reverse stock split of our common stock, such that for each four shares outstanding prior to the stock split there was one share
outstanding after the reverse stock split. All shares of common stock referenced in this report have been adjusted to reflect the
stock split figures. On October 27, 2009 our shares began trading on the NASDAQ Global Select Market under the ticker symbol &ldquo;GFRE&rdquo;
and on June 30, 2011 we changed our ticker symbol to &ldquo;GURE&rdquo; to better reflection of our corporate name.</P>

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

<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our current corporate structure chart is
set forth in the following diagram:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><img src="pg6.jpg"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our executive offices are located in China
at Chenming Industrial Park, Shouguang City, Shandong, People's Republic of China. Our telephone number is +86 (536) 5670008. Our
website address is www.gulfresourcesinc.com. The information contained on or accessed through our website is not intended to constitute
and shall not be deemed to constitute part of this Form 10-K.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 7, 2009, we&nbsp;acquired substantially
all of the assets owned by Qiufen Yuan, Han Wang and Yufen Zhang in the Shouguang City Renjiazhuangzi Village North Area (the &ldquo;Qiufen
Yuan, Han Wang &amp; Yufen Zhang property&rdquo; or &ldquo;Factory No. 7&rdquo;). The Qiufen Yuan, Han Wang and Yufen Zhang property
includes a 50-year (as of acquisition date) mineral rights and land lease covering 1,611 acres of real property as well as the
related production facility, the pipelines, other production equipment, and the buildings located on the property. The total purchase
price for the acquired assets was $10,615,000, consisting of $10,000,000 in cash and 375,000 shares of the Company&rsquo;s Common
Stock valued at $615,000 (fair value).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 7, 2009, we acquired substantially
all of the assets owned by Yuliang Gao, Han Wang and Qing Yang in the Shouguang City Yingli Township Beishan Village (the &ldquo;Yuliang
Gao, Han Wang &amp; Qing Yang property&rdquo; or &ldquo;Factory No. 8&rdquo;). Fengxia Yuan acted as Attorney-in-Fact for one of
the owners of Factory 8, Yuliang Gao, and entered into the acquisition agreement relating to Factory 8 on behalf of Yuliang Gao.
The FengxiaYuan, Han Wang and Qing Yang property includes a 50-year (as of acquisition date) mineral rights and land lease covering
2,723 acres of real property as well as the related production facility, the pipelines, other production equipment, and the buildings
located on the property. The total purchase price for the acquired assets was $&nbsp;16,930,548, consisting of $11,516,960 in cash
and 1,057,342 shares of the Company&rsquo;s Common Stock valued at $5,413,588 (fair value).</P>

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

<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;On June 7, 2010, we acquired substantially
all of the assets owned by Jinjin Li and Qiuzhen Wang in the Shouguang City Yangkou Township Yangzhuang Village (the &ldquo;Jinjin
Li and Qiuzhen Wang property&rdquo; or &ldquo;Factory No. 9&rdquo;).&nbsp;Jinjin Li was acting individually and as Attorney-in-Fact
for four other owners of Factory 9, Yueliang Wang, Kunming Tian, Gaoming Tian and Zhiqiang Wei. The Jinjin Li and Qiuzhen Wang
property includes a 50-year mineral rights (as of acquisition date) and land lease covering 759 acres of real property, with the
related production facility, the pipelines, other production equipment, and the buildings located on the property. The total purchase
price for the acquired assets was $13,905,719, consisting of $13,297,492 in cash and 70,560 shares of the Company&rsquo;s Common
Stock valued at $608,227 (fair value).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 30, 2010, we acquired all right,
title, and interest in and to all fixtures and facilities owned by the State-Operated Shouguang Qingshuibo Farm (the &ldquo;Crude
Salt Field&rdquo;).&nbsp;&nbsp;The Crude Salt Field includes a 30-year land lease covering 568 acres of crude salt field, as well
as the related fixtures and facilities located on the crude salt field. The total purchase price for the Crude Salt Field was $11,023,000
in cash consideration. Pursuant to the purchase agreement, SCHC signed a 30-year land lease agreement for the Crude Salt Field
on January 18, 2011 with&nbsp;an annual leasing fee payable of approximately $26,048.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 22, 2011, we acquired substantially
all of the assets owned by Liangcai Zhang in the Shouguang City Yangkou Township Area (the &ldquo;Liangcai Zhang property&rdquo;
or &ldquo;Factory No. 10&rdquo;). The Liangcai Zhang property includes a 10-year land lease covering 1,700 acres of real property,
with the related production facility, the wells, pipelines, other production equipment, and the buildings located on the property.
The total purchase price for the acquired assets was approximately $9,998,730 in cash. The production line of Factory No. 10 was
resumed in February 2012 after certain repair and adjustments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Each
of the bromine factories and Crude Salt Field acquisitions described above was not in operation when the Company acquired the asset.&nbsp;&nbsp;The
owners of each of the bromine factories did not hold the proper license for the exploration and production of bromine, and production
at each of the bromine factories acquired had been previously halted by the government.&nbsp;&nbsp;With respect to Factory No.
7, the assets had not been operational for twelve months; with respect to Factory No. 8, the assets had not been operational for
thirteen months; and with respect to Factory No. 9 and Factory No. 10, the assets had not been operational for six months. The
Crude Salt Field had not been in operation for six months. The Company recorded the above transactions as purchase of assets.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also enhanced the new plant and machinery
leased in the first quarter of 2011 by making capital improvement in reconstruction and renovation work at a cost of approximately
$3,050,400, which was recorded as buildings and plant and machinery, for the operation of the aforesaid real property, production
facilities, channels and ducts, other production equipment and the buildings located on the property.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the second quarter of 2011, we carried
out enhancement projects to its existing bromine extraction and crude salt production facilities. In particular, we incurred reconstruction
and renovation works at a cost of approximately $12,379,153 for its crude salt fields in Factory No. 1, 5 to 9, and at a cost of
approximately $20,087,600 for its extraction wells and transmission channels and ducts in Factory No. 1 to 9. The above enhancement
projects have estimated useful lives of 5 to 8 years and are capitalized as buildings and plant and machinery.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 5, 2010, SCHC entered into
a Lease Contract (the &ldquo;Lease Contract&rdquo;) with State-Operated Shouguang Qingshuibo Farm (the &ldquo;Lessor&rdquo;). Pursuant
to the Lease Contract, SCHC shall lease certain property with an area of 3,192 square meters and buildings adjacent to the Company&rsquo;s
Factory No. 1.&nbsp;&nbsp;There are currently non-operating bromine production facilities on the property which have not been in
production for more than 12 months.&nbsp;&nbsp;The annual lease payment for the property is RMB5 million, approximately US$755,000,
per year and shall be paid by SCHC no later than June 30th of each year.&nbsp;&nbsp;The term of the Lease Contract is for twenty
years commencing from January 1, 2011 and the Lease Contract may be renewed by SCHC for an additional twenty-year period on the
same terms.&nbsp;&nbsp;The Lessor has agreed to permit SCHC to reconstruct and renovate the existing bromine production facilities
on the property.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Business Segments</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our business operations are conducted in
three segments, bromine, crude salt, and chemical products.&nbsp;&nbsp;We manufacture and trade bromine and crude salt, and manufacture
and sell chemical products used in oil and gas field exploration, oil and gas distribution, oil field drilling, wastewater processing,
papermaking chemical agents and inorganic chemicals.&nbsp;&nbsp;We conduct all of our operations in China, in close proximity to
China&rsquo;s petrochemical and oil refinery manufacturing base and its rapidly growing market.</P>

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

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Bromine and Crude Salt</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We manufacture and distribute bromine through
our wholly-owned subsidiary, Shouguang City Haoyuan Chemical Company Limited, or SCHC.&nbsp;&nbsp;Bromine (Br2) is a halogen element
and it is a red volatile liquid at standard room temperature which has reactivity between chlorine and iodine.&nbsp;&nbsp;&nbsp;Elemental
bromine is used to manufacture a wide variety of bromine compounds used in industry and agriculture. Bromine is also used to form
intermediates in organic synthesis, in which it is somewhat preferable over iodine due to its lower cost.&nbsp;&nbsp;Our bromine
is commonly used in brominated flame retardants, fumigants, water purification compounds, dyes, medicines and disinfectants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The extraction of bromine in the Shandong
Province is limited by the Provincial Government to licensed operations.&nbsp;&nbsp;We hold one of such licenses.&nbsp;&nbsp; As
part of our business strategy, it is our plan to continue acquiring smaller scaled and unlicensed producers and to use our bromine
to expand our downstream chemical operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Location of Production Sites</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our production sites are located in the
Shandong Province in northeastern China. The productive formation (otherwise referred to as the &ldquo;working region&rdquo;),
extends from latitude N 36&deg;56&rsquo; to N 37&deg;20&rsquo; and from longitude E 118&deg;38&rsquo; to E 119&deg;14&rsquo;, in
the north region of Shouguang city, from the Xiaoqing River of Shouguang city to the west of the Dan River, bordering on Hanting
District in the east, from the main channel of &ldquo;Leading the Yellow River to Supply Qingdao City Project&rdquo; in the south
to the coastline in the&nbsp;&nbsp;north. The territory is classified as coastal alluvial &ndash; marine plain with an&nbsp;average
height two to seven meters above the sea level. The terrain is relatively flat.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Geological background of this region</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Shandong Province working region is
located to the east of Lubei Plain and on the south bank of Bohai Laizhou Bay. The geotectonic location bestrides on the North
China Platte (I) and north three-level structure units, from west to east including individually the North China Depression, Luxi
Plate, and Jiaobei Plate. Meanwhile, 4 V-level structure units including the Dongying Sag of Dongying Depression (IV) of North
China Depression, the Buried Lifting Area of Guangrao, Niutou sag and Buried Lifting Area of Shuanghe and are all on two V-level
structure units including Xiaying Buried Lifting Area of Weifang Depression (IV) of Luxi Plate and Chuangyi Sag, as well as on
a V-level structure units of Jiaobei Buried Lifting Area of Jiaobei Plate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Processing of Bromine</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Natural brine is a complicated salt-water
system, containing many ionic compositions in which different ions have close interdependent relationships and which can be reunited
to be many dissolved soluble salts such as sodium chloride, potassium chloride, calcium sulfate, potassium sulfate and other similar
soluble salts. The goal of natural brine processing is to separate and precipitate the soluble salts or ions away from the water.&nbsp;&nbsp;Due
to the differences in the physical and chemical characteristics of brine samples, the processing methods are varied, and can result
in inconsistency of processing and varied technical performance for the different useful components from the natural brine.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bromine is the first component extracted
during the processing of natural brine. In natural brine, the bromine exists in the form of bromine sodium and bromine magnesium
and other soluble salts.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The bromine production process is as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD><FONT STYLE="font-size: 10pt">natural brine is pumped from underground through extraction wells by subaqueous pumps;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-size: 10pt">2.</FONT></TD><TD><FONT STYLE="font-size: 10pt">the natural brine then passes through transmission pipelines to storage reservoirs;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-size: 10pt">3.</FONT></TD><TD><FONT STYLE="font-size: 10pt">the natural brine is sent to the bromine refining plant where bromine is extracted from the natural
brine.&nbsp;&nbsp;In neutral or acidic water, the bromine ion is easily oxidized by adding the oxidative of chlorine, which generates
the single bromine away from the brine.&nbsp;Thereafter the extracted single bromine is blown out by forced air, then absorbed
by sulfur dioxide or soda by adding acid, chlorine and sulfur. Extracted bromine is stored in containers of different sizes; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">                                                                                                                                          <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.2in"><FONT STYLE="font-size: 10pt">4.</FONT></TD><TD><FONT STYLE="font-size: 10pt">the wastewater from this refining process is then transported by pipeline to brine pans.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our production feeds include (i) natural
brine; (ii) vitriol; (iii) chlorine; (iv) sulfur; and (v) coal.</P>

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

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also produce crude salt, which is produced
from the evaporation of the wastewater after our bromine production process. Once the brine is returned to the surface and the
bromine is removed, the remaining brine is pumped to on-site containing pools and then exposed to natural sunshine. This causes
the water to evaporate from the brine, resulting in salt being left over afterwards. Crude salt is the principal material in alkali
production as well as chlorine alkali production and is widely used in the chemical, food &amp; beverage, and other industries.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We produce chemical products through our
wholly-owned subsidiary, Shouguang Yuxin Chemical Industry Company Limited, or SYCI.&nbsp;&nbsp;The products we produce&nbsp;and
the markets in which they are sold&nbsp;include, among others:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 27pt; text-align: left; width: 54%"><B>Product&nbsp;name</B></TD>
    <TD STYLE="text-indent: 27pt; text-align: left; width: 46%"><B>Application&nbsp;sector</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Hydroxyl guar gum</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Oil Exploration &amp; Production</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Demulsified agent</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Oil Exploration &amp; Production</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Corrosion inhibitor for acidizing</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Oil Exploration &amp; Production</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Bactericide</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Oil Exploration /&nbsp;Agricultural</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Chelant</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Paper Making</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Iron ion stabilizer</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Oil Exploration &amp; Production</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Clay stabilizing agent</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Oil Exploration &amp; Production</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Flocculants agent</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Paper Making</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Remaining agent</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Paper Making</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Expanding agent with enhanced gentleness</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Paper Making</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Bromopropane</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Oil Exploration / Agricultural</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Environmental friendly additive products</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Oil Exploration &amp; Production</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Solid lubricant</TD>
    <TD STYLE="text-indent: 27pt; text-align: left">Oil Exploration &amp; Production</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 27pt; text-align: left">Polyether lubricant</TD>
    <TD STYLE="text-indent: 27pt">Oil Exploration &amp; Production</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SYCI concentrates its efforts on the production
and sale of chemical products that are used in oil and gas field explorations, oil and gas distribution, oil field drilling, wastewater
processing, papermaking chemical agents, and inorganic chemicals. SYCI also engages in research and development of commonly used
chemical products as well as medicine intermediates. Currently, SYCI's annual production of oil and gas field exploration products
and related chemicals is over 26,000 tons, and&nbsp;its production of papermaking-related chemical products is over 5,000 tons.
These products are mainly distributed to large domestic papermaking manufacturers and major oilfields such as Shengli Oilfield,
Daqing Oilfield, Zhongyuan Oilfield, Huabei Oilfield, and Talimu Oilfields.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2010, SYCI completed the construction
of a new production line for wastewater treatment chemical additives, which is located in our Yuxin Chemical Plant, at a total
cost of $8,838,000. The new production line started operation in April 2011 and was switched to the production of pharmaceutical
and agricultural chemical intermediates at a cost of $153,426 as we experienced some technological limitations on extraction purity,
which lead to a lower than expected gross margin for wastewater treatment chemical additives.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SYCI&rsquo;s headquarters are&nbsp;located
in Shouguang City at 2nd Living District, Qinghe Oil Factory, Shouguang City, Shandong Province, China. The company has been&nbsp;certified
as ISO9001-2000 compliant and received the Quality Products and Services Guarantee Certificate from China Association for Quality.
SYCI has been accredited by Shandong as a Provincial Credit Enterprises and is a Class One supplier for both China Petroleum &amp;
Chemical Corporation (&ldquo;SINOPEC&rdquo;) and Petro China Company Limited. SYCI has been engaged in product innovation and research
and development projects with Shandong University, Shandong Institute of Light Industry, Southeast University and other higher
education institutions. SYCI has hired three college professors and three professionals who hold PhD degrees to lead&nbsp;its Research
and Development Department.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have three reportable segments:&nbsp;&nbsp;bromine,
crude salt and chemical products.&nbsp;</P>

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

<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amounts set forth below are based upon
on an average RMB to USD exchange rates of $0.15482 and $0.14787 during fiscal year 2011 and 2010, respectively.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: center; border-bottom: Black 1pt solid">Net&nbsp;Revenue&nbsp;by&nbsp;Segment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Year&nbsp;Ended&nbsp;December&nbsp;31,&nbsp;2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Year&nbsp;Ended&nbsp;December&nbsp;31,&nbsp;2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Segment:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">% of total</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">% of total&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 52%">Bromine</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">107,849,304</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">65</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">99,211,812</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">63</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">15,918,655</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,971,774</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Chemical Products</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">41,212,494</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">25</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">44,151,437</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">28</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total sales</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">164,980,453</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">158,335,023</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>Segment:</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: right">Percentage&nbsp;Increase&nbsp;(Decrease)&nbsp;in&nbsp;Net&nbsp;Revenue<BR>from&nbsp;fiscal&nbsp;year&nbsp;2010&nbsp;to&nbsp;2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: right">Percentage&nbsp;Increase&nbsp;in&nbsp;Net&nbsp;Revenue<BR>from&nbsp;fiscal&nbsp;year&nbsp;2009&nbsp;to&nbsp;2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 76%">Bromine</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">9</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">56</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Chemical Products</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7</TD><TD NOWRAP STYLE="text-align: left">)%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>SCHC&rsquo;s&nbsp;products&nbsp;sold&nbsp;in&nbsp;metric&nbsp;tons</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Year&nbsp;ended <BR>December&nbsp;31,&nbsp;2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Year&nbsp;ended <BR>December&nbsp;31,&nbsp;2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Percentage&nbsp;Change</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 64%">Bromine</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">26,418</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">33,386</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">(20.9</TD><TD STYLE="width: 1%; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">355,962</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">370,437</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3.9</TD><TD STYLE="text-align: left">)%</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>SYCI&rsquo;s&nbsp;products&nbsp;sold&nbsp;in&nbsp;metric&nbsp;tons</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Year&nbsp;ended <BR>December&nbsp;31,&nbsp;2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Year&nbsp;ended <BR>December&nbsp;31,&nbsp;2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Percentage&nbsp;Change</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 64%; text-align: left">Oil and gas exploration additives</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">15,208</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">22,484</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">(32.4</TD><TD STYLE="width: 1%; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Paper manufacturing additives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,622</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,130</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(29.4</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Pesticides manufacturing additives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,849</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,946</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3.3</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Wastewater treatment chemical additives</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">120</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21,799</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,560</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">(28.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)%</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: center; border-bottom: Black 1pt solid">Income&nbsp;from&nbsp;Operations&nbsp;by&nbsp;Segment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Year&nbsp;ended&nbsp;December&nbsp;31,&nbsp;2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Year&nbsp;ended&nbsp;December&nbsp;31,&nbsp;2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Segment:</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">% of total</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">% of total</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 52%">Bromine</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">37,023,963</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">67</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">48,474,611</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">67</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,688,190</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,360,476</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Chemical Products</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10,237,586</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">19</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,218,613</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Income from operations before corporate costs</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">$</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">54,949,739</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">$</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">72,053,700</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Corporate costs</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(10,651,281</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,957,467</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Income from operations</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">44,298,458</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">69,096,233</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Year&nbsp;Ended <BR>December&nbsp;31,&nbsp;2011</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Bromine</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Crude <BR>&nbsp;Salt</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Chemical <BR>&nbsp;Products</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Segment <BR>&nbsp;Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Corporate</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 28%; text-align: left">Net revenue <BR>(external customers)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">107,849,304</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">15,918,655</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">41,212,494</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">164,980,453</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">164,980,453</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net revenue (intersegment)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,979,826</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,979,826</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,979,826</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income (loss) from operations before taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,023,963</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,688,190</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,237,586</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54,949,739</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,651,281</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,298,458</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,373,961</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,466,421</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,562,489</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,402,871</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,402,871</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income (loss) from operations after taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,650,002</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,221,769</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,675,097</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,546,868</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,651,281</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,895,587</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">160,421,921</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,109,956</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,010,276</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">257,542,153</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">785,546</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">258,327,699</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,584,237</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,496,310</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,616,892</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,697,439</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,697,439</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Capital expenditures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,792,502</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,331,308</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,197,331</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,321,141</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,321,141</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Write-off / Impairment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,749,435</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,015,533</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,805,598</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,570,566</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,570,566</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">Year&nbsp;Ended <BR>December&nbsp;31,&nbsp;2010</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Bromine</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Crude <BR>&nbsp;Salt</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Chemical <BR>&nbsp;Products</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Segment <BR>&nbsp;Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Corporate</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 28%; text-align: left">Net revenue <BR>(external customers)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">99,211,812</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">14,971,774</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">44,151,437</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">158,335,023</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">158,335,023</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net revenue (intersegment)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,972,997</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,972,997</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,972,997</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income (loss) from operations before taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,474,611</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,360,476</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,218,613</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">72,053,700</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,957,467</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69,096,233</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,943,451</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,040,287</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,071,111</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,054,849</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,054,849</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income (loss) from operations after taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35,531,160</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,320,189</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,147,502</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,998,851</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,957,467</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,051,384</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">128,513,686</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39,696,781</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,153,844</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">206,364,311</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">356,713</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">206,721,024</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,570,660</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,286,253</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,240,236</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,097,149</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,097,149</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Capital expenditures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,458,955</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,712,849</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,483,230</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,655,034</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,655,034</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Sales and Marketing</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have in-house sales staff of 8 persons.
&nbsp;Our customers send their orders to us, usually with cash paid in advance. &nbsp;Our in-house sales staff then attempts to
satisfy these orders based on our actual production schedules and inventories on hand.&nbsp;Many of our customers have a long term
relationship with us, and while we expect this to continue due to continuing high demand for mineral products, this relationship
could not be guaranteed in the future.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We sell a substantial portion of our products
to a limited number of PRC customers.&nbsp;&nbsp;Our principal customers during 2011 were Shandong Morui Chemical Company Limited,
Shouguang City Rongyuan Chemical Company Limited, Shandong Brother Technology Limited, Kuerle Xingdong Trading Limited, Shouguang
Shen Runfa Ocean Chemical Company Limited, Shouguang Weidong Chemical Company Limited and Shandong Yijia Chemical Company Limited.
We have ongoing policies in place to ensure that sales are made to these customers who are credit-worthy. We are not aware of any
allowances for doubtful debts required for each of the years ended December 31, 2011 and 2010.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During each of the years ended December
31, 2011 and 2010, sales to our three largest bromine customers, based on net revenue from such customers, aggregated $36,117,419
and $33,187,054, respectively, or approximately 33.5% and 33.5% of total net revenue from sale of bromine; and sales to our largest
customer represented approximately 12.9% and 13.2%, respectively, of total net revenue from the sale of bromine.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During each of the years ended December
31, 2011 and 2010, sales to our three largest crude salt customers, based on net revenue from such customers, aggregated $11,736,677
and $10,181,361, respectively, or approximately 73.7% and 67.7% of total net revenue from sale of crude salt; and sales to our
largest customer represented approximately 31.1% and 25.1%, respectively, of total net revenue from the sale of crude salt.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During each of the years ended December
31, 2011 and 2010, sales to our three largest chemical products customers, based on net revenue from such customers, aggregated
$17,612,488 and $23,194,994, respectively, or approximately 42.7% and 52.5% of total net revenue from sale of chemical products;
and sales to our largest customer represented approximately 25.0% and 26.4%, respectively, of total net revenue from the sale of
chemical products.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This concentration of customers for all
three segments makes us vulnerable to an adverse near-term&nbsp;impact, should one or more of these relationships be terminated.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our principal external suppliers are Shandong
Haihua Chlorine &amp; Alkali Colophony Chemicals Company Limited, Shouguang Hongye Trading Company Limited, Shouguang City Rongguang
Trading Company Limited and Zibo Linzi Xinlong Chemical Company Limited.</P>

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

<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During each of the years ended December
31, 2011 and 2010, we purchased 59.2% and 84.5%, respectively, of raw materials for our bromine production from three suppliers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During each of the years ended December
31, 2011 and 2010, we purchased 95.8% and 85.1%, respectively, of raw materials for our chemical products production from three
suppliers. Internally, we a portion of the bromine produced, at costs totaling $2,979,826 and $3,973,624, for the years ended December
31, 2011 and 2010, for the production of chemical products.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This supplier concentration makes us vulnerable
to a near-term adverse impact, should the relationships be terminated.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Expansion of Production Capacity to
Meet Demand</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 14.2pt"><B>&#9660; &nbsp;&nbsp;Bromine
and Crude Salt</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
view of the keen competition and the trend of a decrease in bromine contraction of brine water being extracted in Shouguang City,
Shandong Province, in recent years, the Company has announced its intent to access more bromine and crude salt resources by finding
new underground brine water resources in Sichuan Province. In 2011, the Company incurred exploration costs in the amount of $7,034,153,
in Daying County, Sichuan Province, for the drilling of exploratory wells and their associated facilities in order confirm and
measure the natural brine resources. The Company completed the drilling of the first exploratory well in December 2011 and announced
in mid-January 2012 that the Company discovered underground brine water resources in Daying County, and it has provided preliminary
concentration results after the testing by a third-party independent testing expert.</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">According
to the third-party independent testing report, the bromine concentration in the underground brine water resources is 1.53 grams
per liter, which is approximately six to seven times higher than the average bromine concentration from its brine water resources
at our bromine factories in Shouguang City. The Company expects to continue to cooperate with Daying County in 2012 continue and
drilling in order to further determine the total brine water resources reserve and exploitable amount in the area. The Company
expects that the capital expenditure required in 2012 to be in a range of $30 million to $40 million and will be funded by a combination
of cash on hand, and the issuance of debt or equity securities, including securities issued to the developers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in; text-align: justify">In view of the trend of a decrease
in the bromine concentration of the brine water being extracted at the Company&rsquo;s production facilities, the Company engaged
a professional appraisal firm in late October 2011 to reassess the optimal annual production capacity of all of our factory facilities.
Based on the appraisal report, the Company&rsquo;s optimal annual production capacity of bromine and crude salt is 41,547 tons
and 861,143 tons, respectively. In order to improve the bromine and crude salt production capacity, the Company will continue to
enhance its existing bromine and crude salt production facilities. From March through mid-June 2011, the Company carried out such
enhancement projects at a cost of approximately $15.5 million for its crude salt fields in Factories No. 1 (including Branch 1
of Factory No. 1), No. 5 to No. 9 and at a cost of approximately $20.1 million for its extraction wells and transmission channels
and ducts in Factories No. 1 to No. 9. Enhancements of protective shells to the crude salt fields, extraction wells and transmission
channels and ducts are carried out every 5 to 8 years, depending on the need to do so, that is, when regular repair and maintenance
work identifies the replacement needs. The erosion rate of protection shells is affected by different weather conditions and the
change in acid components of brine water over time. The Company expects the future enhancement expenditures will be funded by the
Company&rsquo;s cash on hand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in">In addition, the Company plans to continue to acquire
crude salt fields and bromine properties to increase its production capacity.&nbsp;Prior to 2011, the Company acquired eight such
crude salt field and bromine properties at purchase prices totaling $87.4 million in form a combination of cash and shares of our
common stock, expanded our overall annual production capacity to 41,547 metric tons of bromine and 861,143 metric tons of crude
salt.&nbsp; In late December 2011, the Company acquired another bromine property for $10 million in cash. This property further
expanded our annual production capacity by 3,000 metric tons of bromine. The Company expects that it will continue its acquisition
program in 2012 and that these acquisitions will be funded by a combination of cash on hand, and the issuance of debt or equity
securities, including securities issued to the sellers.</P>

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

<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 14.2pt"><B>&#9660; &nbsp;&nbsp;Chemical
Products</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.4in">In April 2011, SYCI switched the production line for
wastewater treatment chemical additives, with carrying value of $8.3 million, to the production of pharmaceutical and agricultural
chemical intermediates at a cost of $0.15 million as the Company experienced some technological limitations on extraction purity,
which lead to a lower than expected gross margin for wastewater treatment chemical additives. To expand its chemical production
capacity, the Company intends to acquire chemical product producers.&nbsp;&nbsp;These acquisitions will be funded by a combination
of cash on hand, and the issuance of debt or equity securities.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The markets for our products have been
experiencing increased levels of demand as China continues its recent pace of accelerated growth.&nbsp;&nbsp;Nevertheless, the
markets for our products are highly competitive.&nbsp;&nbsp;To date, our sales have been limited to customers within the PRC and
we expect that our sales will remain primarily in domestic for the immediate future.&nbsp;&nbsp;Our marketing strategy involves
developing long term ongoing working relationships with customers based on large multi-year agreements which foster mutually advantageous
relationships.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We compete with PRC domestic private companies
and state-owned companies.&nbsp;&nbsp;Certain state-owned and state backed competitors are more established and have more control
of certain resources in terms of pricing than we do.&nbsp;&nbsp;We compete in our business based on price, our reputation for quality
and on-time delivery, our relationship with suppliers and our geographical proximity to natural brine deposits in the PRC for bromine,
crude salt and chemical productions.&nbsp;&nbsp;Management believes that our stable quality, manufacturing processes and plant
capacity for the production of bromine, crude salt and chemical products are key considerations in the awarding of contracts in
the PRC.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our principal competitors in the bromine
business are Shandong Yuyuan Group Company Limited, Shandong Haihua Group Company Limited, Shandong Dadi Salt Chemical Group Company
Limited and Shandong Haiwang Chemical Company Limited, all of which produce bromine principally for use in their chemicals businesses&nbsp;and
sell part of the bromine produced to customers. These companies may switch to selling bromine to the market if they no longer use
bromine in their chemical business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our principal competitors in the crude
salt business are Shandong Haiwang Chemical Company Limited, Shandong Haihua Group Company Limited, Shandong Weifang Longwei Industrial
Company Limited, Shandong Yuyuan Group Company Limited and Shandong Caiyangzi Saltworks.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our principal competitors in the chemical
business are Beijing Tianqing Chemical Company Limited, Shandong Weifang Shuangxing Pesticides Company Limited, Zibo Dacheng Pesticides
Company Limited, Befar Group Company Limited, China Eastar (Group) Chemical Industry Company Limited and Pecome Technologies Limited.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a summary of the principal
governmental laws and regulations that are or may be applicable to our operations in the PRC. The scope and enforcement of many
of the laws and regulations described below are uncertain. We cannot predict the effect of further developments in the Chinese
legal system, including the promulgation of new laws, changes to existing laws or the interpretation or enforcement of laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the natural resources sector, the PRC
and the various provinces have enacted a series of laws and regulations over the past 20 years, including laws and regulations
designed to improve safety and decrease environmental degradation.&nbsp;&nbsp;The &quot;China Mineral Resources Law&quot; declares
state ownership of all mineral resources in the PRC.&nbsp;&nbsp;However, mineral exploration rights can be purchased, sold and
transferred to foreign owned companies. Mineral resource rights are granted by the Central Government permitting recipients to
conduct mineral resource activities in a specific area during the license period. These rights entitle the licensee to undertake
mineral resource activities and infrastructure and ancillary work, in compliance with applicable laws and regulations, within the
specific area covered by the license during the license period. The licensee is required to submit a proposal and feasibility studies
to the relevant authority and to pay the Central Government a natural resources fee in an amount equal to a percent of annual sales.&nbsp;&nbsp;Shandong
Province has determined that bromine is to be extracted only by licensed entities and we hold one of such licenses. Despite the
province desire to limit extraction to licensed entities hundreds of smaller operations continue to extract bromine without licenses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Ministry of Land and Resources (&ldquo;MLR&rdquo;)
is the principal regulator of mineral rights in China. The Ministry has authority to grant licenses for land-use and exploration
rights, issue permits for mineral rights and leases, oversee the fees charged for them and their transfer, and review reserve evaluations.</P>

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

<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All of our operating activities in China
have been authorized by or obtained written consent from land and resources departments of local governments. &nbsp;&nbsp;In addition,
all of our operations are subject to and have passed government safety inspections.&nbsp;We also have been granted environmental
certification from the PRC Bureau of Environmental Protection.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2011, we employed approximately
519&nbsp;full-time employees, of whom about&nbsp;77% are with SCHC and 21% are with SYCI. Approximately 6% of our employees are
management personnel, 3% are sales and procurement staff.&nbsp;&nbsp;11% of our employees have a college degree or higher. None
of our employees is represented by a union.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our employees in China participate in a
state pension&nbsp;arrangement&nbsp;organized by Chinese municipal and provincial governments.&nbsp;We are required to contribute
to the&nbsp;arrangement at the rate of 17% of the average monthly salary.&nbsp;In addition, we are required by Chinese law to cover
employees in China with other types of social insurance. Our total contribution may amount to 26% of the average monthly salary.
We have purchased social insurance for&nbsp;almost all of our employees. Expense related to social insurance was approximately
$431,428&nbsp;for fiscal year 2011.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Research and Development</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 6, 2007, SYCI and East China
University of Science and Technology formally opened a Co-Op Research and Development Center. The research center is equipped with
state of the art chemical engineering instruments for the purpose of pursuing targeted research and development of new bromine-based
chemical compounds and products to be utilized in the pharmaceutical industry. Professor Ji of East China University is the Center&rsquo;s
manager. He will provide his expertise in chemical applications and medicine engineering. All research findings and patents developed
by this Center will belong to Gulf Resources. At the outset, SYCI agreed to make an annual payment of $500,000 to the center through
the original expiration date of June 14, 2012.&nbsp; On June 7, 2011, the Company and East China University of Science and Technology
mutually agreed to terminate the Co-op Research Agreement due to the successful completion of the cooperative research and development
tasks related to the development of bromine-related chemical products for the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company completed the research, the
testing of manufacturing routine and samples, and started normal production for the new production line of wastewater treatment
additives in April 2011. However, the Company switched the aforesaid production line to the production of pharmaceutical and agricultural
chemical intermediates in mid-June 2011 as the Company experienced some technological limitations on extraction purity, which lead
to a lower than expected gross margin for wastewater treatment chemical additives. The research and development expense incurred
for the new production line of wastewater treatment additives from outside parties and the consumption of bromine produced by the
Company during the year ended December 31, 2011 were $56,286 and $105,739, respectively.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We make available free of charge on or
through our internet website, <U>www.gulfresourcesinc.com</U>, our Annual Reports on Form&nbsp;10-K, Quarterly Reports on Form&nbsp;10-Q,
Current Reports on Form&nbsp;8-K, and all amendments to those reports, if any, filed or furnished pursuant to Section&nbsp;13(a)
or 15(d) of the Securities Exchange Act of 1934 as soon as reasonably practicable after they are electronically filed with, or
furnished to, the Securities and Exchange Commission. The information contained on our website is not intended to be incorporated
into this Annual Report on Form 10-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 1A. Risk Factors.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You should consider carefully each of the
following business and investment risk factors and all of the other information in this report. If any of the following risks and
uncertainties develops into actual events, the business, financial condition or results of our operations could be materially adversely
affected. If that happens, the trading price of our shares of common stock could decline significantly. The risk factors below
contain forward-looking statements regarding our business. Actual results could differ materially from those set forth in the forward-looking
statements. See &quot;Special Note Regarding Forward-Looking Information&quot;.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Relating to Our Business</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The unsuccessful integration of a
business or business segment we acquire could have a material adverse effect on our results.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As part of our business strategy, we expect
to acquire assets and businesses relating to or complementary to our operations. These acquisitions will involve risks commonly
encountered in acquisitions. These risks include exposure to unknown liabilities of the acquired assets, right, additional acquisition
costs and unanticipated expenses. Our quarterly and annual operating results could fluctuate due to the costs and expenses of acquiring
and integrating new assets and businesses. We may also experience difficulties in assimilating the operations of acquired businesses.
Our ongoing business may be&nbsp;disrupted and our management's time and attention diverted from existing operations. Our acquisition
strategy will likely require additional equity or debt financing, resulting in additional leverage or dilution of ownership. We
cannot assure you that any future acquisition will be consummated, or that if consummated, that we will be able to integrate such
acquisition successfully.</P>

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

<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We depend on revenues from a few
significant relationships, and any loss, cancellation, reduction, or interruption in these relationships could harm our business.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In general, we have derived a material
portion of our revenue from a limited number of customers. If sales to such customers were terminated or significantly reduced,
our revenues and net income could significantly decline. Our success will depend on our continued ability to develop and manage
relationships with significant customers and suppliers. Any adverse change in our relationship with our customers and suppliers
may have a material adverse effect on our business. Although we are attempting to expand our customer base, we expect that our
customer concentration will not change significantly in the near future. We cannot be sure that we will be able to retain our largest
customers and suppliers or that we will be able to attract additional customers and suppliers, or that our customers and suppliers
will continue to buy our products in the same amounts as in prior years. The loss of one or more of our largest customers or suppliers,
any reduction or interruption in sales to these customers or suppliers, our inability to successfully develop relationships with
additional customers or suppliers or future price concessions that we may have to make could significantly harm our business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Attracting and retaining key personnel
is an essential element of our future success.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our future success depends to a significant
extent upon the continued service of our executive officers and other key management and technical personnel and on our ability
to continue to attract, retain and motivate executive and other key employees, including those in managerial, technical, marketing
and information technology support positions. Experienced management and technical, marketing and support personnel are in demand
and competition for their talents is intense. The loss of the services of one or more of our key employees or our failure to attract,
retain and motivate qualified personnel could have a material adverse effect on our business, financial condition and results of
operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we lose the services of our chairman
and chief executive officer, our business may suffer.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are dependent on Mr. Ming Yang, our
chairman and Mr. Liu Xiaobin, our chief executive officer.&nbsp;&nbsp;The loss of their services could materially harm our business
because of the cost and time necessary to retain and train a replacement. Such a loss would also&nbsp;divert management attention
away from operational issues.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we do not pass the review and
approval for renewing our bromine and salt production license, our bromine business may suffer.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are required to hold a bromine and salt
production license in order to operate our bromine and salt production business in the PRC. Our bromine and salt production license
is subject to a yearly audit. If we do not successfully pass the yearly approval by relevant government authorities, our bromine
and salt production operations may be suspended until we are able to comply with the license requirements which could have a material
adverse effect on our business, financial condition and results of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Because we do not have any proven
or probable reserves of brine water, we may not be able to continue to produce bromine and crude salt at existing levels in the
future which could harm our business, results or operations and financial condition</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The SEC&rsquo;s Industry Guide 7, which
relates to businesses with mining operations such as ours defines &ldquo;reserves&rdquo; as: &ldquo;that part of a mineral deposit
which could be economically and legally extracted or produced at the time of the reserve determination.&rdquo; In addition, Industry
Guide 7 provides the following definitions with respect to the classification of reserves for mining companies:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&ldquo;Proven (Measured) Reserves&rdquo;
- Reserves for which (a) quantity is computed from dimensions revealed in outcrops, trenches, workings or drill holes; grade and/or
quality are computed from the results of detailed sampling and (b) the sites for inspection, sampling and measurement are spaced
so closely and the geologic character is so well defined that size, shape, depth and mineral content of reserves are well-established.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&ldquo;Probable (Indicated) Reserves&rdquo;
- Reserves for which quantity and grade and/or quality are computed form information similar to that used for proven (measure)
reserves, but the sites for inspection, sampling, and measurement are farther apart or are otherwise less adequately spaced. The
degree of assurance, although lower than that for proven (measured) reserves, is high enough to assume continuity between points
of observation.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not have any proven or probable reserves
of brine water on our mining properties. Therefore, we cannot provide investors with any assurance that there will be adequate
volume or concentration of brine water on our mining properties to continue our bromine and crude salt operations at existing levels
or to expand our production capacity of bromine and crude salt. If we experience decreases in the volume and/or concentration of
brine water we are able to extract from our mining properties, our business, results of operations and financial condition may
be adversely affected.</P>

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

<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We do not have mining permits for
some of our bromine factories which we have acquired.&nbsp;&nbsp;Our operations depend on our existing permits and approvals already
obtained from government authorities.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We hold government permits or operations
permits and for each of our bromine factories.&nbsp;&nbsp;However, we do not currently hold valid mining permits issued by the
State Land and Resources Bureau for our Factories No. 5, 6, 7, 8 and 9.&nbsp;&nbsp;We have already filed applications for these
mining permits, however we are not able to confirm when such mining permits will be issued, if at all.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have received a letter from the Shouguang
Municipal State Land and Resources Bureau on March 10, 2011, stating that these five bromine factories &ldquo;are permitted to
continue with the mining and can operate in a standard manner and carry out mining activities in a reasonable way pursuant to the
requirements of the relevant mineral resources authorities, and are free of any illegal acts of exceeding layer or boundary limits
and any violations of relevant laws and regulations of the State.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A decision made by relevant government
agency(ies) to reject or delay the issuance of a new permit or to repeal or modify an existing permits or approval could prevent
or limit our ability to continue operations at the affected facilities and harm our business, financial condition and operating
results.&nbsp;&nbsp;Expansion of our existing operations would also require securing the necessary permits and approvals which
we may not be able to obtain in a timely manner, if at all.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We do not have a certificate of land
use rights for the land relating to certain bromine assets and crude salt production.&nbsp;&nbsp;We will not be able to obtain
the property certificates for the relevant buildings attached to the land.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not have certificates of land use
rights for land leased by SCHC<I>.</I> As a result, we have not been able to obtain the relevant property certificates for buildings
on such leased land which are normally required as security in obtaining financing from financial institutions.&nbsp;&nbsp;Although
we believe that this is a common occurrence with respect to property leases in the PRC, the property certificates confirm legal
ownership of the buildings.&nbsp;&nbsp;Because we do not have certificate of land use rights for the leased land, we might be required
by the government to demolish our buildings and/or restore the land back to its original state.&nbsp;&nbsp;If such event occurs,
it will have major impact on our operations, financial status and performance results.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Because we have not been able to
obtain property certificates to certain of our properties we may not be able to borrow money from banks in the PRC and as a result,
could face liquidity problems.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As discussed above, we have not been able
to obtain property certificates for certain of our properties. In the PRC banks normally require a company&rsquo;s property certificates
to be pledged as security before they will provide a loan to a company. In the past several years we have financed our operations
with loans from third-party companies, cash from operations and equity financing. However, if these sources of funds are not available
in the future and we need to find an alternate source of financing to maintain our operations, we may not be able to borrow money
from a bank to meet our cash needs. This could materially harm our business and have a major impact on our operations, financial
status and performance results.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our inability to successfully manage
the growth of our business may have a material adverse effect on our business, results or operations and financial condition.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We expect to experience growth in the number
of employees and the scope of our operations as a result of internal growth and acquisitions. Such activities could result in increased
responsibilities for management. Our future success will be highly dependent upon our ability to manage successfully the expansion
of operations. Our ability to manage and support our growth effectively will be substantially dependent on our ability to implement
adequate improvements to financial, inventory, management controls, reporting, order entry&nbsp;systems and other procedures, and
hire sufficient numbers of financial, accounting, administrative, and management personnel.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our future success depends on our ability
to address potential market opportunities and to manage expenses to match our ability to finance operations. The need to control
our expenses will place a significant strain on our management and operational resources. If we are unable to control our expenses
effectively, our business, results of operations and financial condition may be adversely affected.</P>

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

<!-- Field: Page; Sequence: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our management is comprised almost
entirely of individuals residing in the PRC with very limited English skills.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our management is comprised almost entirely
of individuals born and raised in the PRC.&nbsp;&nbsp;As a result of differences in culture, educational background and business
experiences, our management may analyze, evaluate and present business opportunities and results of operations differently from
the way they are analyzed, evaluated and presented by management teams of public companies in Europe and the United States.&nbsp;&nbsp;In
addition, our management has very limited skills in English.&nbsp;&nbsp;Consequently, it is possible that our management team will
emphasize or fail to emphasize aspects of our business that might customarily be emphasized in a different manner by comparable
public companies from different geographical and political areas.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We will face many of the difficulties
that companies in the early stage may face.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have a limited operating history as
a bromine produce and chemical processing company, which may make it difficult for you to assess our ability to identify merger
or acquisition candidates and our growth and earnings potential. Therefore, we may face many of the difficulties that companies
in the early stages of their development in new and evolving markets often face. We may continue to face these difficulties in
the future, some of which may be beyond our control.&nbsp;&nbsp;If we are unable to successfully address these problems, our future
growth and earnings will be negatively affected.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We cannot accurately forecast our
future revenues and operating results, which may fluctuate.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our short operating history and the rapidly
changing nature of the markets in which we compete make it difficult to accurately forecast our revenues and operating results.
Furthermore, our revenues&nbsp;and operating results may fluctuate in the future due to a number of factors,&nbsp;including the
following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the success of identifying and completing mergers and acquisitions;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the introduction of competitive products by different or new&nbsp;competitors;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">reduced demand for any given product;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">difficulty in keeping current with changing technologies;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">increased or uneven expenses, whether related to sales and marketing,
product development or&nbsp;administration;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">deferral of recognition of our revenue in accordance with applicable
accounting principles due to the time required to complete projects; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">costs related to possible acquisitions of technology or businesses.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Due to these factors, forecasts may not
be achieved, either because expected revenues do not occur or because they occur at lower prices or on terms that are less favorable
to us. In addition, these factors increase the chances that our results could be lower than the expectations of investors and analysts.
If so, the market price of our stock would likely decline.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Mr. Ming Yang, our Chairman and a
substantial shareholder, has potential conflicts of interest with us, which may adversely affect our business.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Ming Yang, our chairman, was a substantial
owner of SCHC and SCYI before their acquisition by us, and remains, with the shares held by him, both individually and through
Shandong Haoyuan Industry Group Ltd., and by his wife and son, Wenxiang Yu and Zhi Yang, a substantial owner of our securities.
There may have been conflicts of interest between Mr. Yang and our Company as a result of such ownership interests. The terms on
which we acquired SCHC and SCYI may have been different from those that would have been obtained if SCHC and SCYI were owned by
unrelated parties. In addition, conflicts of interest between Mr. Yang&rsquo;s dual roles as our shareholder and our director may
arise. We cannot assure you that, when conflicts of interest arise, Mr. Yang will act in the best interests of the Company or that
conflicts of interest will be resolved in our favor.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Currently, we do not have existing arrangements
to address potential conflicts of interest between Mr. Yang and us. We rely on these Mr. Yang to abide by the laws of the State
of Delaware, which provide that directors owe a fiduciary duty to the Company, and which require them to act in good faith and
in the best interests of the Company, and not use their positions for personal gain. If we cannot resolve any conflicts of interest
or disputes between us and Mr. Yang, we would have to rely on legal proceedings, which could result in disruption of our business
and substantial uncertainty as to the outcome of any such legal proceedings.</P>

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

<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Because of the uncertainties regarding
the feasibility of producing bromine from brine water resources in Sichuan province, there may not be a return on our investment
in certain related exploration costs.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended December 31, 2011, we
incurred exploration costs in the amounts of $7,034,153 in Sichuan province, PRC, for the drilling of exploratory wells and their
associated facilities in order to confirm and measure the natural brine resources in the area of drilling. Although we announced
that we have discovered underground brine water resources in Daying County with high concentration, to date there has be no bromine
produced from the brine water resources in Sichuan province. We cannot be certain that that there will be sufficient brine water
resources reserve and exploitable amount in the brine water in the area where we are drilling in Sichuan province to make the production
of bromine there feasible. In addition, we cannot be certain that the local authorities in Sichuan province will issue a mining
permit to us. As a result of these uncertainties, we cannot assure you that there will be a return on our investment in such exploration
costs.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Risks Related to Doing Business in
the People's Republic of China.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our business operations take place primarily
in the People's Republic of China.&nbsp;&nbsp;Because Chinese laws, regulations and policies are changing, our Chinese operations
will face several risks summarized below.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 0.15in"><FONT STYLE="font-size: 10pt"><I>-</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>Limitations on Chinese economic market reforms may discourage foreign investment in Chinese
businesses.</I></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The value of investments in
Chinese businesses could be adversely affected by political, economic and social uncertainties in China. The economic reforms in
China in recent years are regarded by China&rsquo;s central government as a way to introduce economic market forces into China.
Given the overriding desire of the central government leadership to maintain stability in China amid rapid social and economic
changes in the country, the economic market reforms of recent years could be slowed, or even reversed.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Any change in policy by the
Chinese government could adversely affect investments in Chinese businesses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Changes in policy could result
in imposition of restrictions on currency conversion, imports or the source of supplies, as well as new laws affecting joint ventures
and foreign-owned enterprises doing business in China. Although China has been pursuing economic reforms, events such as a change
in leadership or social disruptions that may occur upon the proposed privatization of certain state-owned industries, could significantly
affect the government's ability to continue with its reform.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 0.15in"><FONT STYLE="font-size: 10pt"><I>-</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>We face economic risks in doing business in China.</I></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">As a developing nation, China&rsquo;s
economy is more volatile than that of developed Western industrial economies. It differs significantly from that of the U.S. or
a Western European country in such respects as structure, level of development, capital reinvestment, legal recourse, resource
allocation and self-sufficiency. Only in recent years has the Chinese economy moved from what had been a command economy through
the 1970s to one that during the 1990s encouraged substantial private economic activity. In 1993, the Constitution of China was
amended to reinforce such economic reforms. The trends of the 1990s indicate that future policies of the Chinese government will
emphasize greater utilization of market forces. For example, in 1999 the Government announced plans to amend the Chinese Constitution
to recognize private property, although private business will officially remain subordinate to state-owned companies, which are
the mainstay of the Chinese economy.&nbsp;However, we cannot assure you that, under some circumstances, the government's pursuit
of economic reforms will not be&nbsp;restrained or curtailed. Actions by the central government of China could have a significant
adverse effect on economic conditions in the country as a whole and on the economic prospects for our Chinese operations.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 0.15in"><FONT STYLE="font-size: 10pt"><I>-</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>We are subject to comprehensive regulation by the PRC legal system, which is uncertain. As
a result, it may limit the legal protections available to you and us and we may not now be, or remain in the future, in compliance
with PRC laws and regulations.</I></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">SCHC and SYCI, our PRC operating
companies, are incorporated under and are governed by the laws of the PRC; all of our operations are conducted in the PRC; and
our suppliers and customers are all located in the PRC. The PRC government exercises substantial control over virtually every sector
of the PRC economy, including the production, distribution and sale of bromine, brominated chemical products and crude salt. In
particular, we are subject to regulation by local and national branches of the Ministry of Land and Resources, as well as the State
Administration of Foreign Exchange, and other regulatory bodies. In order to operate under PRC law, we require valid licenses,
certificates and permits, which must be renewed from time to time. If we were to fail to obtain the necessary renewals for any
reason, including sudden or unexplained changes in local regulatory practice, we could be required to shut down all or part of
our operations temporarily or permanently.</P>

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

<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">SCHC and SYCI are subject to
PRC accounting laws, which require that an annual audit be performed in accordance with PRC accounting standards. The PRC foreign-invested
enterprise laws require that our subsidiary, SCHC, submit periodic fiscal reports and statements to financial and tax authorities
and maintain its books of account in accordance with Chinese accounting laws. If PRC authorities were to determine that we were
in violation of these requirements, we could lose our business license and be unable to continue operations temporarily or permanently.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The legal and judicial systems
in the PRC are still rudimentary. The laws governing our business operations are sometimes vague and uncertain and enforcement
of existing laws is inconsistent. Thus, we can offer no assurance that we are, or will remain, in compliance with PRC laws and
regulations.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 0.15in"><FONT STYLE="font-size: 10pt"><I>-</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>The Chinese legal and judicial system may negatively impact foreign investors.</I></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In 1982, the National People&rsquo;s
Congress amended the Constitution of China to authorize foreign investment and guarantee the &quot;lawful rights and interests&quot;
of foreign investors in China. However, China's system of laws is not yet comprehensive. The legal and judicial systems in China
are still under development, and enforcement of existing laws is inconsistent. Many judges in China lack the depth of legal training
and experience that would be expected of a judge in a more developed country. Because the Chinese judiciary is relatively inexperienced
in enforcing the laws that exist, anticipation of judicial decision-making is more uncertain than would be expected in a more developed
country. It may be impossible to obtain swift and equitable enforcement of laws that do exist, or to obtain enforcement of the
judgment of one court by a court of another jurisdiction. China's legal system is based on written statutes; a decision by one
judge does not set a legal precedent that is required to be followed by judges in other cases. In addition, the interpretation
of Chinese laws may shift to reflect domestic political changes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The promulgation of new laws,
changes to existing laws and the pre-emption of local regulations by national laws may adversely affect foreign investors. However,
the trend of legislation over the last 20 years has significantly enhanced the protection of foreign investment and allowed for
more control by foreign parties of their investments in Chinese enterprises. We cannot assure you that a change in leadership,
social or political disruption, or unforeseen circumstances affecting&nbsp;China's political, economic or social life, will not
affect the Chinese government's ability to continue to support and pursue these reforms. Such a shift could have a material adverse
effect on our business and prospects.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The practical effect of the
People&rsquo;s Republic of China&rsquo;s legal system on our business operations in China can be viewed from two separate but intertwined
considerations. First, as a matter of substantive law, the Foreign Invested Enterprise laws provide significant protection from
government interference. In addition, these laws guarantee the full enjoyment of the benefits of corporate articles and contracts
to Foreign Invested Enterprise participants. These laws, however, do impose standards concerning corporate formation and governance,
which are not qualitatively different from the general corporation laws of the several states. Similarly, the accounting laws and
regulations of the People&rsquo;s Republic of China mandate accounting practices which are not consistent with U.S. Generally Accepted
Accounting Principles. China's accounting laws require that an annual &quot;statutory audit&quot; be performed in accordance with
People&rsquo;s Republic of China&rsquo;s accounting standards and that the books of account of Foreign Invested Enterprises are
maintained in accordance with Chinese accounting laws. Article 14 of the People&rsquo;s Republic of China Wholly Foreign-Owned
Enterprise Law requires a Wholly Foreign-Owned Enterprise to submit certain periodic fiscal reports and statements to designated
financial and tax authorities, at the risk of business license revocation. Second, while the enforcement of substantive rights
may appear less clear than United States procedures, Foreign Invested Enterprises and Wholly Foreign-Owned Enterprises are Chinese
registered companies, which enjoy the same status as other Chinese registered companies in business-to-business dispute resolution.
Generally, the Articles of Association provide that all business disputes pertaining to Foreign Invested Enterprises are to be
resolved by the Arbitration Institute of the Stockholm Chamber of Commerce in Stockholm, Sweden, applying Chinese substantive law.
Any award rendered by this arbitration tribunal is, by the express terms of the respective Articles of Association, enforceable
in accordance&nbsp;with the &quot;United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1958)&quot;.
Therefore, as a practical matter, although no assurances can be given, the Chinese legal infrastructure, while different in operation
from its United States counterpart, should not present any significant impediment to the operation of Foreign Invested Enterprises.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Because our principal assets
are located outside of the United States and some of our directors and all of our executive officers reside outside of the United
States, it may be difficult for you to enforce your rights based on the United States Federal securities laws against us and our
officers and directors in the United States or to enforce judgments of United States courts against us or them in the People's
Republic of China.</P>

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

<!-- Field: Page; Sequence: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In addition, our operating subsidiaries
and substantially all of our assets are located outside of the United States. You will find it difficult to enforce your legal
rights based on the civil liability provisions of the United States Federal securities laws against us in the courts of either
the United States or the People's Republic of China and, even if civil judgments are obtained in courts of the United States, to
enforce such judgments in the courts of the People's Republic of China. In addition, it is unclear if extradition treaties in effect
between the United States and the People's Republic of China would permit effective enforcement against us or our officers and
directors of criminal penalties, under the United States Federal securities laws or otherwise.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 0.15in"><FONT STYLE="font-size: 10pt"><I>-</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>Issues associated with increased rate of inflation as a result of economic reform</I></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Although the Chinese government
owns the majority of productive assets in China, during the past several years the government has implemented economic reform measures
that emphasize decentralization and encourage private economic&nbsp;activity. &nbsp;Because these economic reform measures may
be inconsistent or ineffectual, we are unable to assure you that:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We will be able to capitalize on economic reforms;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The Chinese government will continue its pursuit of economic reform
policies;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The economic policies, even if pursued, will be successful;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Economic policies will not be significantly altered from time to time;
and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Business operations in China will not become subject to the risk of
nationalization.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Since 1979, the Chinese government
has reformed its economic systems.&nbsp;&nbsp;Because many reforms are unprecedented or experimental, they are expected to be refined
and improved. Other political, economic and social factors, such as political changes, changes in the rates of economic growth,
unemployment or inflation, or in the disparities in per capita wealth between regions within China, could lead to further readjustment
of the reform measures. This refining and readjustment process may negatively affect our operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Over the last few years, China's
economy has registered a high growth rate. Recently, there have been indications that rates of inflation have increased. In response,
the Chinese government recently has taken measures to curb this excessively expansive economy. These measures have included revaluations
of the Chinese currency, the RMB, restrictions on the availability of domestic credit, and limited re-centralization of the approval
process for purchases of some foreign products. These austerity measures alone may not succeed in slowing down the economy's excessive
expansion or control inflation, and may result in severe dislocations in the Chinese economy. The Chinese government may adopt
additional measures to further combat inflation, including the establishment of freezes or restraints on certain projects or markets.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">To date, reforms to China's
economic system have not adversely impacted our operations and are not expected to adversely impact operations in the foreseeable
future; however, there can be no assurance that the reforms to China's economic system will continue or that we will not be adversely
affected by changes in China's political, economic, and social conditions and by changes in policies of the Chinese government,
such as changes in laws and regulations, measures which may be introduced to control inflation, changes in the rate or method of
taxation, imposition of additional restrictions on currency conversion and remittance abroad, and reduction in tariff protection
and other import restrictions.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 0.15in"><FONT STYLE="font-size: 10pt"><I>-</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>Fluctuations in the value of the RMB may reduce the value of your investment</I></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The value of the RMB against
the U.S. dollar and other currencies is affected by, among other things, changes in China's political and economic conditions and
China's foreign exchange policies. The conversion of RMB into foreign currencies, including U.S. dollars, has been based on exchange
rates set by the People's Bank of China. On July 21, 2005, the PRC government changed its decade-old policy of pegging the value
of the RMB solely to the U.S. dollar. Under this revised policy, the RMB is permitted to fluctuate within a narrow and managed
band against a basket of certain foreign currencies. Following the removal of the U.S. dollar peg, the RMB appreciated more than
20% against the U.S. dollar over the following three years. However, the People&rsquo;s Bank of China regularly intervenes in the
foreign exchange market to prevent significant short-term fluctuations in the exchange rate and achieve policy goals. For almost
two years after July 2008, the RMB traded within a narrow range against the U.S. dollar. As a consequence, the RMB fluctuated significantly
during that period against other freely traded currencies, in tandem with the U.S. dollar. In June 2010, the PRC government announced
that it would increase RMB exchange rate flexibility. However, it remains unclear how this flexibility might be implemented. There
remains significant international pressure on the PRC government to adopt a more flexible currency policy, which could result in
a further and more significant appreciation of the RMB against the U.S. dollar.</P>

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

<!-- Field: Page; Sequence: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Because substantially all of
our revenues and expenditures are denominated in RMB and our cash is denominated in U.S. dollars, fluctuations in the exchange
rate between the U.S. dollar and RMB will affect the relative purchasing power of such amounts and our balance sheet and earnings
per share in U.S. dollars. In addition, we report financial results in U.S. dollars, and appreciation or depreciation in the value
of the RMB relative to the U.S. dollar would affect our financial results reported in U.S. dollars terms without giving effect
to any underlying change in our business or results of operations. Fluctuations in the exchange rate will also affect the relative
value of earnings from and the value of any U.S. dollar-denominated investments we make in the future.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Very limited hedging transactions
are available in China to reduce our exposure to exchange rate fluctuations. To date, we have not entered into any hedging transactions
in an effort to reduce our exposure to foreign currency exchange risk. While we may decide to enter into hedging transactions in
the future, the availability and effectiveness of these hedging transactions may be limited and we may not be able to successfully
hedge our exposure at all. In addition, our currency exchange losses may be magnified by PRC exchange control regulations that
restrict our ability to convert RMB into foreign currency.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 0.15in"><FONT STYLE="font-size: 10pt"><I>-</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>Failure of our PRC resident shareholders to comply with regulations on foreign exchange registration
of overseas investment by PRC residents could cause us to lose our ability to contribute capital to SCHC and remit profits out
of the PRC as dividends</I></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The Notice on Relevant Issues
Concerning Foreign Exchange Administration for Domestic Residents to Engage in Overseas Financing and Round Trip Investment via
Overseas Special Purpose Vehicles (&ldquo;Circular 75&rdquo;), issued by the SAFE and effective on November 1, 2005, regulates
the foreign exchange matters in relation to the use of a &ldquo;special purpose vehicle&rdquo; by PRC residents to seek offshore
equity financing and conduct a &lsquo;&lsquo;round trip investment&rsquo;&rsquo; in China. Under Circular 75, a &ldquo;special
purpose vehicle&rdquo; refers to an offshore entity directly established or indirectly controlled by PRC resident natural or legal
persons (&ldquo;PRC residents&rdquo;) for the purpose of seeking offshore equity financing using assets or interests owned by such
PRC residents in onshore companies, while &ldquo;round trip investment&rdquo; refers to the direct investment in China by such
PRC residents through the &ldquo;special purpose vehicles,&rdquo; including, without limitation, establishing foreign-invested
enterprises and using such foreign-invested enterprises to purchase or control onshore assets through contractual arrangements.
Circular 75 requires that, before establishing or controlling a &ldquo;special purpose vehicle&rdquo;, PRC residents and PRC entities
are required to complete a foreign exchange registration with the competent local branches of the SAFE for their overseas investments.
After the completion of a round-trip investment or the overseas equity financing, the PRC residents are required to go through
foreign exchange registration alteration formalities of overseas investment in respect of net assets of special purpose vehicles
that such PRC residents hold and the variation thereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In addition, an amendment to
the registration is required if there is a material change in the &ldquo;special purpose vehicle,&rdquo; such as increase or reduction
of share capital and transfer of shares. Failure to comply with the registration procedures set forth in Circular 75 may result
in restrictions on the foreign exchange activities of the relevant foreign-invested enterprises, including the payment of dividends
and other distributions, such as proceeds from any reduction in capital, share transfer or liquidation, to its offshore parent
or affiliate and the capital inflow from the offshore parent, and may also subject the relevant PRC residents to penalties under
PRC foreign exchange administration regulations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">We have requested our current
PRC resident shareholders and/or beneficial owners to disclose whether they or their shareholders or beneficial owners fall within
the scope of the Circular 75 and urges PRC residents to register with the local SAFE branch as required under the Circular 75.
Our affiliates subject to the SAFE registration requirements, including Mr. Ming Yang, our Chairman, Ms. Wenxiang Yu, the wife
of Mr. Yang, and Mr. Zhi Yang, Mr. Yang&rsquo;s son, have informed us that they have not made their initial registrations with
SAFE. The failure of our PRC resident shareholders and/or beneficial owners to timely furnish or amend their SAFE registrations
pursuant to the Circular 75 or the failure of our future shareholders and/or beneficial owners who are PRC residents to comply
with the registration requirement set forth in the Circular 75 may subject such shareholders, beneficial owners and/or SCHC to
fines and legal sanctions. Any such failure may also limit our ability to contribute additional capital into SCHC, limit SCHC&rsquo;s
ability to distribute dividends to us or otherwise adversely affect our business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">The PRC government could restrict
access in the future to foreign currencies for current account transactions. If the foreign exchange control system prevents us
from obtaining sufficient foreign currency to satisfy our currency demands, we may not be able to pay certain expenses as they
come due or may restrict which limit the payment of dividends from the Company.</P>

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

<!-- Field: Page; Sequence: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 0.15in"><FONT STYLE="font-size: 10pt"><I>-</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>We may be treated as a resident enterprise for PRC tax purposes under the currently effective
EIT Law, which may subject us to PRC income tax on our taxable global income</I></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">On March 16, 2007, the National
People&rsquo;s Congress approved and promulgated a new tax law, the PRC Enterprise Income Tax Law (&ldquo;EIT Law&rdquo;). On November
28, 2007, the PRC State Council passed the implementing rules of the EIT Law. Both the EIT Law and the implementing rules of the
EIT Law took effect on January 1, 2008. Under the EIT Law, enterprises are classified as &ldquo;resident enterprises&rdquo; and
&ldquo;non-resident enterprises.&rdquo; An enterprise established outside of China with &ldquo;de facto management bodies&rdquo;
within China is considered a &ldquo;resident enterprise,&rdquo; meaning that it can be treated in a manner similar to a Chinese
enterprise for enterprise income tax purposes. The implementing rules of the EIT Law define &ldquo;de facto management bodies&rdquo;
as a managing body that in practice exercises &ldquo;substantial and overall management and control over the production and operations,
personnel, accounting, and properties&rdquo; of the enterprise; however, it remains unclear whether the PRC tax authorities would
deem our managing body as being located within China. Due to the short history of the EIT Law and lack of applicable legal precedents,
the PRC tax authorities determine the PRC tax resident treatment of a foreign (non-PRC) company on a case-by-case basis.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">If the PRC tax authorities determine
that we are a &ldquo;resident enterprise&rdquo; for PRC enterprise income tax purposes, a number of PRC tax consequences could
follow. First, we may be subject to the enterprise income tax at a rate of 25% on our global taxable income, as well as PRC enterprise
income tax reporting obligations. Second, under the EIT Law and its implementing rules, dividends paid between &ldquo;qualified
resident enterprises&rdquo; are exempt from enterprise income tax. It is unclear whether the dividends we receive will constitute
dividends between &ldquo;qualified resident enterprises&rdquo; and would therefore qualify for tax exemption, because the definition
of qualified resident enterprises is unclear and the relevant PRC governmental authorities have not yet issued guidance with respect
to the processing of outbound remittances to entities that are treated as resident enterprises for PRC enterprise income tax purposes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">In addition to the uncertainty
as to the application of the &ldquo;resident enterprise&rdquo; classification, there can be no assurance that the PRC governmental
authorities will not amend or revise the taxation laws, rules and regulations to impose stricter tax requirements, higher tax rates
or retroactively apply the EIT Law, or any subsequent changes in PRC tax laws, rules or regulations. If such changes occur and/or
if such changes are applied retroactively, such changes could materially and adversely affect our results of operations and financial
condition.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.1in"></TD><TD STYLE="width: 0.15in"><FONT STYLE="font-size: 10pt"><I>-</I></FONT></TD><TD><FONT STYLE="font-size: 10pt"><I>Restricted power supply could disrupt our production and have an adverse effect on our business,
financial position and results of operations</I></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">All of our products are produced
at our manufacturing facilities in Shouguang, Shandong province, China. A significant disruption at those facilities, such as electricity
power control, even on a short-term basis, could impair our ability to timely produce and deliver products, which could have an
adverse effect on our business, financial position and results of operations. We have encountered power shortages historically
due to restrictions on the power supply provided to industrial users when the usage of electricity is high and the supply is limited
or as a result of damage to the electricity supply network. Interruptions of electricity supply could result in lengthy production
shutdowns, increased costs associated with restarting production and the loss of production in progress. Any major suspension or
termination of electricity or other unexpected business interruptions could have an adverse impact on our business, financial condition
and results of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Associated with Bromine Extraction</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We are subject to risks associated
with our operations which may affect our results.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The resource industry in the PRC has drawbacks
that the resource industry does not have within the United States. For instance:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In China, insurance coverage is a relatively new concept compared to
that of the United&nbsp;States and for certain aspects of a business operation, insurance&nbsp;coverage is restricted or expensive.&nbsp;&nbsp;Workers
compensation for employees in the PRC may be unavailable or, if available, insufficient to adequately cover such employees.</FONT></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Symbol">T</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">he environmental laws and
regulations in the PRC set various standards regulating certain aspects of health and environmental quality, including, in some
cases, the obligation to rehabilitate current and former facilities and locations where operations are or were conducted.&nbsp;&nbsp;Violation
of those standards could result in a temporary or permanent restriction by the PRC of our bromine operations.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We cannot assure you that we will be able
to adequately address any of these or other limitations.</P>

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

<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our earnings and, therefore our profitability,
may be affected by price volatility.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We anticipate that the majority of our
future revenues will be derived from the sale of bromine and products derived from bromine and, as a result, our earnings are directly
related to the prices of these products. There are many factors influencing the price of these products including expectations
for inflation; global and regional demand and production; political and economic conditions; and production costs. These factors
are beyond our control and are impossible for us to predict. As a result, price changes may adversely affect our operating results.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We may become subject to numerous
risks and hazards associated with our chemical processing business</I></B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bromine is highly corrosive and must be
handled carefully in order to avoid leakage and damage to containers, transportation equipment and other facilities.&nbsp;&nbsp;The
risks associated with bromine include:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">environmental hazards; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">industrial accidents, including personal injury.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Such risks could result in:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">damage to or destruction of properties or production facilities;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">personal injury or death;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">environmental damage;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">monetary losses; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4in"></TD><TD STYLE="width: 0.4in"><FONT STYLE="font: 10pt Wingdings">l</FONT></TD><TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">legal liability.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our business operations and related
activities may be subject to PRC government regulations concerning environmental protection.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may have to make a significant financial
commitment for the construction of environmental protection facilities and the establishment of a sound environmental protection
management and monitoring system. Compliance with existing and future environmental protection regulations may increase our operating
costs and may adversely affect our operating results.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our operations and business activities
may involve dangerous materials.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although we may establish stringent rules
relating to the storage, handling and use of dangerous materials, there is no assurance that accidents will not occur. Should we
be held liable for any such accident, we may be subject to penalties and possible criminal proceedings may be brought against our
employees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We may have to reduce our bromine
production volumes based on guidelines issued by the Shouguang Bromine Professional Association.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are a member of the Shouguang Bromide
Professional Association (the &ldquo;Association&rdquo;), whose members are bromine producers in the Shouguang region of Shandong
province. Members of the Association are required to follow production guidelines recommended by the Association. If the Association
asks its members to reduce production volumes in the future, we may be required to limit our bromine production volume which could
adversely affect our business, financial condition and results of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We may have to temporarily halt production
at our facilities in order to prepare for environmental inspections made by the local government.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the past two years we have experienced
an increase in the number of environmental inspections of our factories made by the local government in order to renew our mining
licenses, which we have successfully passed. As a result of these inspections, we may be required to temporarily halt production
at our factories in order to prepare for and pass the inspections made by the local government. If we are required to close some
or all of our factories in order to prepare for these inspections, our business, financial condition and results of operations
could be adversely affected.</P>

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

<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Decreases in the bromine yield from
our brine water could have an adverse effect on our business, financial position and results of operations.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In recent years, we have been able to extract
less bromine from brine water during the production process due to a decrease in the bromine concentration of brine water being
extracted. In an effort to address this issue, we carried out enhancement projects to our extraction wells in June 2011 by increasing
the depth of our brine water wells to extract brine water from a lower second layer which we believe will have a higher bromine
concentration. However, we can not be certain that this will improve the bromine yield from our production facilities in the long
run. If we are not able to improve the bromine yield at our production facilities or if the bromine concentration in the brine
water we extract continues to decline, our business, financial condition and results of operations could be adversely affected.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Taking of leased land by the Chinese
government could disrupt our production facilities and capacity, and have a material adverse effect on our business, financial
position and results of operations.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Most of our bromine and crude salt manufacturing
facilities are located on land leased by SCHC. Any taking of leased land by the Chinese government could impair our carrying value
of production facilities and our ability to timely produce and deliver products, which could have an adverse effect on our business,
financial position and results of operations. In mid-May 2011, one of our leased parcels of land was taken by the Chinese government
for civil redevelopment, which caused suspension of the operations of Factory No. 4 in early July 2011 for relocation, which took
four months. Any future taking of our leased lands will adversely affect our existing business and productivity.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Relating to our Common Stock and
our status as a Public Company</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The price of our common stock may
be affected by a limited trading volume and may fluctuate significantly.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There has been a limited public market
for our common stock and we cannot assure you that an active trading market for our stock will develop or if developed, will be
maintained. The absence of an active trading market may adversely affect our stockholders' ability to sell our common stock in
short time periods, or possibly at all. In addition, we cannot assure you that you will be able to sell shares of common stock
that you have purchased without incurring a loss. The market price of our common stock may not necessarily bear any relationship
to our book value, assets, past operating results, financial condition or any other established criteria of value, and may not
be indicative of the market price for the common stock in the future. In addition, the market price for our common stock may be
volatile depending on a number of factors, including business performance, industry dynamics, and news announcements or changes
in general economic conditions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We have not and do not anticipate
paying any dividends on our common stock; because of this our securities could face devaluation in the market.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have paid no dividends on our common
stock to date and it is not anticipated that any dividends will be paid to holders of our common stock in the foreseeable future.
While our dividend policy will be based on the operating results and capital needs of the business, it is anticipated that any
earnings will&nbsp;be retained to finance our future expansion and for the implementation of our business plan. As an investor,
you should take note of the fact that a lack of a dividend can further affect the market value of our stock, and could significantly
affect the value of any investment in our Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We will continue to incur significant
increased costs as a result of operating as a public company, and our management will be required to devote substantial time to
new compliance requirements.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a public company we incur significant
legal, accounting and other expenses under the Sarbanes-Oxley Act of 2002, together with rules implemented by the Securities and
Exchange Commission and applicable market regulators. These rules impose various requirements on public companies, including requiring
certain corporate governance practices. Our management and other personnel will need to devote a substantial amount of time to
these new compliance requirements. Moreover, these rules and regulations will increase our legal and financial compliance costs
and will make some activities more time-consuming and costly.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Currently, none of our employees have significant
experience or training in U.S. GAAP and we primarily rely on outside consultants to prepare our U.S. GAAP financial statements.
Until such time that our employees gain sufficient experience or we hire additional employees with relevant U.S. GAAP experience,
we will continue to incur costs related to these outside consultants.</P>

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

<!-- Field: Page; Sequence: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, the Sarbanes-Oxley Act requires,
among other things, that we maintain effective internal controls for financial reporting and disclosure controls and procedures.
In particular, commencing in 2007, we must perform system and process evaluations and testing of our internal controls over financial
reporting to allow management and our independent registered public accounting firm to report on the effectiveness of our internal
controls over financial reporting, as required by Section 404 of the Sarbanes-Oxley Act. Our testing, or the subsequent testing
by our independent registered public accounting firm, may reveal deficiencies in our internal controls over financial reporting
that are deemed to be material weaknesses. Compliance with Section 404 may require that we incur substantial accounting expenses
and expend significant management efforts. If we are not able to comply with the requirements of Section 404 in a timely manner,
or if our accountants later identify deficiencies in our internal controls over financial reporting that are deemed to be material
weaknesses, the market price of our stock could decline and we could be subject to sanctions or investigations by the SEC or other
applicable regulatory authorities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Lack of management control by purchasers
of our common stock</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the date of this report, Mr. Ming
Yang, our chairman and former chief executive officer, and his affiliates, beneficially owned approximately 38.6% of our common
stock. As a result of this concentration of ownership, our public stockholders, acting alone, may not have the ability to influence
the outcome of matters requiring stockholder approval, including the election of our directors or significant corporate transactions.
In addition, this concentration of ownership, which is not subject to any voting restrictions, may discourage or thwart efforts
by third parties to take-over or effect a change in control of our Company that may be desirable for our stockholders, and may
limit the price that investors are willing to pay for our common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Board of Directors has the authority,
without stockholder approval, to issue preferred stock with terms that may not be beneficial to common stock holders and with the
ability to adversely affect stockholder voting power and perpetuate the board's control over the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our certificate of incorporation authorizes
the issuance of up to 1,000,000 shares of preferred stock. Our Board of Directors by resolution may authorize the issuance of up
to 1,000,000 shares of preferred stock in one or more series with such limitations and restrictions as it may determine, in its
sole discretion, with no further authorization by security holders required for the issuance thereof. The Board may determine the
specific terms of the preferred stock, including: designations; preferences; conversions rights; cumulative; relative; participating;
and optional or other rights, including: voting rights; qualifications; limitations; or restrictions of the preferred stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The issuance of preferred stock may adversely
affect the voting power and other rights of the holders of common stock. Preferred stock may be issued quickly with terms calculated
to discourage, make more difficult, delay or prevent a change in control of our company or make removal of management more difficult.
As a result, the Board of Directors' ability to issue preferred stock&nbsp;may discourage the potential hostile acquirer, possibly
resulting in beneficial negotiations. Negotiating with an unfriendly acquirer may result in terms more favorable to us and our
stockholders. Conversely, the issuance of preferred stock may adversely affect any market price of, and the voting and other rights
of the holders of the common stock. We presently have no plans to issue any preferred stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Future sales of our common stock,
or the perception that such sales could occur, could have an adverse effect on the market price of our common stock.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have approximately 34,735,912 shares
of our common stock outstanding as of March 14, 2011.&nbsp;&nbsp;There are a limited number of holders of our common stock.&nbsp;&nbsp;Future
sales of our common stock, pursuant to a registration statement or Rule 144 under the Securities Act, or the perception that such
sales could occur, could have an adverse effect on the market price of our common stock. The number of our shares available for
sale pursuant to registration statements or Rule 144 is very large relative to the trading volume of our shares. Any attempt to
sell a substantial number of our shares could severely depress the market price of our common stock. In addition, we may use our
capital stock in the future to finance acquisitions and to compensate employees and management, which will further dilute the interests
of our existing shareholders and could also depress the trading price of our common stock.</P>

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

<!-- Field: Page; Sequence: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Techniques employed by manipulative
short sellers in Chinese small cap stocks may drive down the market price of our common stock.</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Short selling is the practice of selling
securities that the seller does not own but rather has, supposedly, borrowed from a third party with the intention of buying identical
securities back at a later date to return to the lender. The short seller hopes to profit from a decline in the value of the securities
between the sale of the borrowed securities and the purchase of the replacement shares, as the short seller expects to pay less
in that purchase than it received in the sale. As it is therefore in the short seller&rsquo;s best interests for the price of the
stock to decline, many short sellers (sometime known as &ldquo;disclosed shorts&rdquo;) publish, or arrange for the publication
of, negative opinions regarding the relevant issuer and its business prospects in order to create negative market momentum and
generate profits for themselves after selling a stock short. While traditionally these disclosed shorts were limited in their ability
to access mainstream business media or to otherwise create negative market rumors, the rise of the Internet and technological advancements
regarding document creation, videotaping and publication by weblog (&ldquo;blogging&rdquo;) have allowed many disclosed shorts
to publicly attack a company&rsquo;s credibility, strategy and veracity by means of so-called research reports that mimic the type
of investment analysis performed by large Wall Street firm and independent research analysts. These short attacks have, in the
past, led to selling of shares in the market, on occasion in large scale and broad base. Issuers with business operations based
in China and who have limited trading volumes and are susceptible to higher volatility levels than U.S. domestic large-cap stocks,
can be particularly vulnerable to such short attacks.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These short seller publications are not
regulated by any governmental, self-regulatory organization or other official authority in the U.S., are not subject to the certification
requirements imposed by the Securities and Exchange Commission in Regulation AC (Regulation Analyst Certification) and, accordingly,
the opinions they express may be based on distortions of actual facts or, in some cases, fabrications of facts. In light of the
limited risks involved in publishing such information, and the enormous profit that can be made from running just one successful
short attack, unless the short sellers become subject to significant penalties, it is more likely than not that disclosed shorts
will continue to issue such reports.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">While we intend to strongly defend our
public filings against any such short seller attacks, oftentimes we are constrained, either by principles of freedom of speech,
applicable state law (often called &ldquo;Anti-SLAPP statutes&rdquo;), or issues of commercial confidentiality, in the manner in
which we can proceed against the relevant short seller. You should be aware that in light of the relative freedom to operate that
such persons enjoy &ndash; oftentimes blogging from outside the U.S. with little or no assets or identity requirements &ndash;
should we be targeted for such an attack, our stock will likely suffer from a temporary, or possibly long term, decline in market
price should the rumors created not be dismissed by market participants.</P>

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

<!-- Field: Page; Sequence: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1B. Unresolved Staff Comments.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">None.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2. Properties</B> .</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FIGURE 2.1 - REGIONAL MAP OF MINING PROPERTIES</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><img src="pg28.jpg"></P>

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

<!-- Field: Page; Sequence: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FIGURE 2.2 - DETAILED MAP OF MINING PROPERTIES</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><img src="pg29.jpg"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not own any land, though we do own
some of the buildings on land we lease.&nbsp;Our executive offices are located in China at Chenming Industrial Park, Shouguang
City, Shandong Province, People's Republic of China, which also is the headquarters of SCHC. These offices are located on approximately
17,342 square meters of land owned by Shouguang City Wo Pu Town Ba Mian He Village. The lease for the land expires on November
1, 2054. The annual rent for the land is RMB4,000, or approximately US$619. The building on this land has approximately 3,335 square
meters of usable space and is owned by SCHC.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SYCI's headquarters are located in the
2nd Living District, Shouguang City, Shandong Province, People's Republic of China. SYCI's headquarters are located on approximately
18,768 square meters of land owned by Shouguang City Houxin village. There are three buildings owned by SYCI located on the property.
Two of the buildings are operational plants of steel structure with an aggregate of approximately&nbsp;1,560 square meters of production
space and a total of 4,000 square meters for pump rooms, boiler rooms, finished products and raw materials storage. The third building
is primarily for administration and has approximately 795 square meters.&nbsp;&nbsp;&nbsp;The company&nbsp;has a 50 year lease
on the land from April 1, 1998 to March 31, 2048 at an annual rent of RMB4,000 or $619.</P>

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

<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->





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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company operates its bromine and crude
salt production facilities through its wholly-owned subsidiary SCHC.&nbsp;&nbsp;SCHC has land use rights to one property (10,790
square meters, or approximately 3 acre) as bromine production area for Factory No. 1 and land lease contracts to nine properties
(approximately 25,086 acre), totaling nearly 25,089 acre, located on the south bank of Laizhou Bay on the Shandong Peninsula of
the People&rsquo;s Republic of China (&ldquo;China&rdquo;).&nbsp;&nbsp;Each of the properties is accessible by road. The Yiyang
railway line is within 50 kilometers and the Yangkou port is five kilometers away.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each of the ten properties contains natural
brine deposits which are extracted through wells and are used to extract bromine and produce crude salt. Bromine is a simple molecular
element which is produced by extracting the bromine ion from natural brine. Crude salt is sodium chloride.&nbsp;&nbsp;Bromine is
an important chemical raw material in flame retardants, fire extinguishing agents, refrigerants, photographic materials, pharmaceuticals,
pesticides, and oil and other industries.&nbsp;&nbsp;Crude salt, also known as industrial salt, is used in a wide range of chemical
industries, is the major raw material in the soda and chlor-alkali industries and can be widely used in agricultural, animal husbandry,
fisheries and food processing industries.&nbsp;&nbsp;Crude salt is also the main raw material for edible salt.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Nature of Ownership Interest in the
Properties</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All land in PRC is owned by the State.
Individuals and companies are permitted to acquire rights to use land or land use rights for specific purposes at no cost. In the
case of land used for industrial purposes, the land use rights are granted for a period of fifty (50) years. This period may be
renewed at the expiration of the initial and any subsequent terms. Granted land use rights are transferable and may be used as
security for borrowings and other obligations. The Company does not own any land but has entered into contracts with the local
government and original owners of the land use rights to acquire their rights for a period of 50 years.&nbsp;&nbsp;The contracts
required us to pay a one-time fee plus an annual rent.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Chinese and provincial governments
have enacted a series of laws and regulations relating to the natural resources sector over the past 20 years, including laws and
regulations designed to improve safety and decrease environmental degradation.&nbsp;&nbsp;The &ldquo;China Mineral Resources Law&rdquo;
declares state ownership of all mineral resources in China.&nbsp;&nbsp;However, mineral exploration rights can be purchased, sold
and transferred to both domestic and foreign owned companies. Mineral resource rights are granted by the central government permitting
recipients to conduct mineral resource activities in a specific area during the license period.&nbsp;&nbsp;These rights entitle
the licensee to undertake mineral resource activities and infrastructure and ancillary work, in compliance with applicable laws
and regulations, within the specific area covered by the license during the license period. The licensee is required to submit
a proposal and feasibility studies to the relevant authority and to pay the central government a natural resources fee in an amount
equal to 2% of annual bromine sales.&nbsp;&nbsp;The Company was exempt from paying the fee prior to January 1, 2008.&nbsp;Shandong
province has determined that bromine is to be extracted only by licensed entities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our mineral rights are issued by the local
government and allow for a one year period of mining.&nbsp;&nbsp;The rights provide us with the exclusive rights to explore and
extract natural brine under the leased land and produce bromine and crude salt. The government performs an annual inspection of
the company&rsquo;s previous year&rsquo;s state of production &amp; operations at beginning of each year.&nbsp;&nbsp;The annual
inspection reviews: (1) whether the production is safe and if any accidents occurred during the previous year; (2) whether the
mineral resources compensation fees and other taxes were timely paid; (3) whether employees&rsquo; salary and welfare benefits
were timely paid; and (4) whether the Company meets environment protection meet standards. Only those companies who pass the inspection
receive mineral rights for another one year term. For those companies who do not pass the inspection, additional mineral rights
are not allocated until they can meet the requirements. If there is major safety accident, the government may revoke the mining
permit.&nbsp;&nbsp;All of the relevant documentation to apply for renewal of mining rights must be filed with the Land and Resources
Bureau before March 31st each year.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All of our bromine and crude salt production
facilities have been authorized by the local land and resources departments, of which Factories No. 1 to No. 4 are included under
a single permit, which was originally issued in January 2005.&nbsp;&nbsp;For Factories No. 5 to No. 10, the related mining permit
applications are under review by the local land and resources departments, nevertheless we have obtained written consent from the
local land and resources department to commence the production for Factories No. 5 to No. 9. &nbsp;&nbsp;In addition, all of our
operations are subject to and have passed government safety inspections.&nbsp;We also have been granted environmental certification
from the PRC Bureau of Environmental Protection.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Factories No. 1 to No. 9 are in their production
stage and operates bromine extraction and crude salt production facilities. The facilities each include wells, which are used to
extract natural brine from underground, natural brine transmission pipelines, natural brine storage reservoirs, bromine refining
equipment, wastewater transport pipes, and drying brine drying pans. For the newly acquired Factory No. 10, the assets and facilities
are now under repair and adjustments, the Company expected to resume the production by the end of first quarter 2012.</P>

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

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The equipment and facilities described
above were constructed within three months after the acquisition of each of our respective properties using the latest technology
and equipment and do not currently require modernization.&nbsp;&nbsp;Because bromine is a highly corrosive liquid, the equipment
undergoes inspection and maintenance each year, especially the subaqueous pumps which need to be regularly inspected and maintained
or replaced. Also, enhancement works for certain protective shells to the crude salt fields, extraction wells and transmission
channels and ducts are carried out every 5 to 8 years, depends on the erosion rate, which is affected by different weather conditions
and the change in acid components of brine water over time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2011, the Company had
invested approximately $87.6 million in its ten production factories and facilities, paid approximately $6.7 million in prepaid
land lease payments and mineral rights, and incurred approximately $32.5 million in enhancement works for protection shells to
crude salt fields (approximately 12.4 million), extraction wells (approximately 12.4 million) and transmission channels and ducts
(approximately $7.7 million). None of the existing extraction wells were impaired or in need of replacement as a result of the
enhancement work. However, certain eroded protection shells for crude salt fields and transmission channels and ducts, with net
carrying value of $1,632,004 (original cost of $1,939,288) and $1,315,476 (original cost of $2,274,700), respectively, were replaced
and impaired in 2011 as part of our enhancement work. In light of the increased labor and raw materials costs of construction projects
in recent years, the cost to replace those eroded parts increased the overall cost of the enhancement project to its current level.&nbsp;&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As mentioned hereinbefore, the expected
life of protective shells for the crude salt fields, extraction wells and transmission channels and ducts are 5 to 8 years. When
we acquired production factories No. 2 to 9, their protective shells for crude salt fields, extraction wells and transmission channels
and ducts were already under a certain degree of corrosion. In 2011, we decided to carry out large scale enhancement work to replace
all these protective shells within a four year timeframe. The priority of the enhancement work depends upon the rate of corrosion
at each factory. The enhancement work for all of our crude salt fields&rsquo; protective shells was completed in 2011, and the
Company is not expected to carry out such enhancement works to the fields during the course of the next 5 years. The tables below
demonstrate the schedule for each factory&rsquo;s enhancement work to extraction wells and transmission channels and ducts in the
next three years.</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 97%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Enhancement&nbsp;work&nbsp;timetable</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Production&nbsp;facilities&nbsp;in:</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Total&nbsp;no.&nbsp;of&nbsp; <BR>wells</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">%&nbsp;completed&nbsp; <BR>by&nbsp;end&nbsp;of&nbsp; <BR>2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">To&nbsp;be&nbsp;done&nbsp; <BR>in&nbsp;2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">To&nbsp;be&nbsp;done&nbsp; <BR>in&nbsp;2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">To&nbsp;be&nbsp;done<BR>
&nbsp;in 2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Expected&nbsp;costs&nbsp;for <BR>each&nbsp;year&nbsp;of&nbsp;2012&nbsp;<BR>
to 2014&nbsp;(in&nbsp;$&rsquo;000)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 28%; text-align: left">Factory No. 1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">1,865</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">39</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">21</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">20</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">20</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">3,440</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Factory No. 2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">825</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,460</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Factory No. 3</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">755</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,358</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Factory No. 4</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">672</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">898</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Factory No. 5 and No. 7</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,368</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,079</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Factory No. 6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">694</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">786</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Factory No. 8</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">630</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">700</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Factory No. 9</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">409</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">86</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">177</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Subdivision of Factory No. 1</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">480</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">34</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">33</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">33</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,461</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,698</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">47</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,360</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Transmission channels and ducts</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 97%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Enhancement&nbsp;work&nbsp;timetable</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Production&nbsp;facilities&nbsp;in:</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Length&nbsp;of&nbsp;ducts <BR>and&nbsp;channels&nbsp;(in <BR>meters)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">%&nbsp;completed <BR>by&nbsp;end&nbsp;of <BR>2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">To&nbsp;be&nbsp;done <BR>in&nbsp;2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">To&nbsp;be&nbsp;done <BR>in&nbsp;2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">To&nbsp;be&nbsp;done <BR>in&nbsp;2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Expected&nbsp;costs&nbsp;for <BR>each&nbsp;year&nbsp;of&nbsp;2012 <BR>to&nbsp;2014&nbsp;(in&nbsp;$&rsquo;000)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 28%; text-align: left">Factory No. 1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">12,930</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">55</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">15</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">15</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">15</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">730</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Factory No. 2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,230</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">700</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Factory No. 3</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,650</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">620</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Factory No. 4</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,030</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">580</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Factory No. 5 and No. 7</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,590</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,630</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Factory No. 6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,350</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Factory No. 8</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,090</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,160</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Factory No. 9</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,920</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">22</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">26</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">26</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">26</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,710</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Total</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">61,790</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">36</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">22</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,630</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<!-- Field: Page; Sequence: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, the Company estimates that
it will invest approximately $20 million in enhancement projects to our extraction wells and transmission channels and ducts in
Factory No. 1 to 9 in each of the 2012 to 2014. The Company also estimates that equipment maintenance will cost approximately $1.5
million in 2012, which is higher than the cost incurred in 2011 in view of the increased no. of factories and crude salt fields
we owned and increasing level of wages and salaries and the cost of equipment&rsquo;s spare parts.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each of the ten bromine production facilities
is provided with electricity and water by local government utilities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Following is a description of the land
use and mineral rights related to each of the ten properties held by SCHC as of December 31, 2011.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Property</TD>
    <TD STYLE="width: 4%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Factory No. 1 &ndash; Haoyuan General&nbsp;&nbsp;Factory</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Area</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">6,442 acres</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Acquisition</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">February 5, 2007</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Lease Term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Fifty Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Expiration Date</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2054 (for mining areas only)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">The number of remaining years to expiration of the of the land lease as of December 31, 2011</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75pt">42.25 Years</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Prior fees paid for land use rights</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB8.6 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Annual Rent</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB186,633</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Mining Permit No.:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">C3707002009056220022340</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Permission:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">January 2005, subject to annual renewal</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Period of Permission:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">One year</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Property</TD>
    <TD STYLE="width: 4%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Factory No. 2 &ndash; Yuwenbo</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Area</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">1,846 acres</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Acquisition</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">April 7, 2007</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Lease Term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Fifty Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Expiration Date</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2052</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">The number of remaining years to expiration of the of the land lease as of December 31, 2011</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75pt">41 Years</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Prior Fees Paid For Land Use Rights</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB7.5 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Annual Rent</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB162,560</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Mining Permit No.:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">C3707002009056220022340</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Permission:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">January 2005, subject to annual renewal</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Period of Permission:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">One year</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Property</TD>
    <TD STYLE="width: 4%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Factory No. 3 &ndash; Yangdonghua</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Area</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2,318 acres</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Acquisition</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">June 8, 2007</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Lease Term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Fifty Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Expiration Date</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2052</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">The number of remaining years to expiration of the of the land lease as of December 31, 2011</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75pt">40.3 Years</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Prior Fees Paid For Land Use Rights</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB5 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Annual Rent</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB111,317</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Mining Permit No.:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">C3707002009056220022340</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Permission:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">January 2005, subject to annual renewal</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Period of Permission:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">One year</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 30; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Property</TD>
    <TD STYLE="width: 4%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Factory No. 4 &ndash; Liuxingji</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Area</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2,310 acres</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Acquisition</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">October 26, 2007</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Lease Term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Fifty Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Expiration Date</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2054</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">The number of remaining years to expiration of the of the land lease as of December 31, 2011</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt; text-align: left; vertical-align: bottom">42.83 Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Annual Rent</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB139,255</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Prior Fees Paid For Land Use Rights</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB6.5 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Mining Permit No.:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">C3707002009056220022340</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Permission:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">January 2005, subject to annual renewal</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Period of Permission:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">One year</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Property</TD>
    <TD STYLE="width: 4%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Factory No. 5 &ndash; Wangjiancai</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Area</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2,165 acres</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Acquisition</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">October 25, 2007</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Lease Term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Fifty Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Expiration Date</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2054</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">The number of remaining years to expiration of the of the land lease as of December 31, 2011</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt; text-align: left; vertical-align: bottom">43 Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Annual Rent</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB176,441</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Prior Fees Paid for Land Use Rights</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB8.3 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Mining Permit No.:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Under application, written consent obtained from local land and resources departments</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Property</TD>
    <TD STYLE="width: 4%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Factory No. 6 &ndash; Yangxiaodong</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Area</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2,641 acres</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Acquisition</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">January 8, 2008</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Lease Term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Fifty Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Expiration Date</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2055</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">The number of remaining years to expiration of the of the land lease as of December 31, 2011</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt; text-align: left; vertical-align: bottom">43.5 Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Prior Fees Paid for Land Use Rights</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB9.1 million</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Annual Rent</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB191,295</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Mining Permit No.:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Under application, written consent obtained from local land and resources departments</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Property</TD>
    <TD STYLE="width: 4%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Factory No. 7 &ndash; Qiufen Yuan</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Area</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">1,611 acres</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Acquisition</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">January 7, 2009</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Lease Term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Fifty Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Expiration Date</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2059</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">The number of remaining years to expiration of the of the land lease as of December 31, 2011</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt; text-align: left; vertical-align: bottom">47.17 Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Prior Fees Paid for Land Use Rights</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Not applicable</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Annual Rent</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB171,150</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Mining Permit No.:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Under application, written consent obtained from local land and resources departments</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 31; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Property</TD>
    <TD STYLE="width: 4%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Factory No. 8 &ndash; Fengxia Yuan</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Area</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2,723 acres</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Acquisition</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">September 7, 2009</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Lease Term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Fifty Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Expiration Date</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2059</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">The number of remaining years to expiration of the of the land lease as of December 31, 2011</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt; text-align: left; vertical-align: bottom">47.66 Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Prior Fees Paid for Land Use Rights</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Not applicable</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Annual Rent</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB347,130</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Mining Permit No.:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Under application, written consent obtained from local land and resources departments</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Property</TD>
    <TD STYLE="width: 4%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Factory No. 9 &ndash; Jinjin Li</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Area</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">759 acres</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Acquisition</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">June 7, 2010</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Lease Term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Fifty Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Expiration Date</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2060</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">The number of remaining years to expiration of the of the land lease as of December 31, 2011</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt; text-align: left; vertical-align: bottom">48.5 Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Prior Fees Paid for Land Use Rights</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Not applicable</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Annual Rent</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB184,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Mining Permit No.:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Under application, written consent obtained from local land and resources departments</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Property</TD>
    <TD STYLE="width: 4%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-left: 0.75pt; font-weight: bold; border-bottom: Black 1pt solid">Factory No. 10 &ndash; Liangcai Zhang</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Area</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">1,700 acres</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Date of Acquisition</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">December 22, 2011</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Lease Term</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Ten Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Land Use Rights Expiration Date</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">2021</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">The number of remaining years to expiration of the of the land lease as of December 31, 2011</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt; text-align: left; vertical-align: bottom">10.0 Years</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Prior Fees Paid for Land Use Rights</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Not applicable</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Annual Rent</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">RMB688,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.75pt">Mining Permit No.:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.75pt">Under application, written consent obtained from local land and resources departments</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 5, 2010, SCHC entered into
a Lease Contract (the &ldquo;Lease Contract&rdquo;) with State-Operated Shouguang Qingshuibo Farm (the &ldquo;Lessor&rdquo;). Pursuant
to the Lease Contract, SCHC shall lease certain property with an area of 3,192 square meters (or 0.8 acres) or and buildings adjacent
to the Company&rsquo;s Factory No. 1.&nbsp;&nbsp;There are currently non-operating bromine production facilities on the property
which have not been in production for more than 12 months.&nbsp;&nbsp;The annual lease payment for the Property is RMB 5 million,
approximately $794,550, per year and shall be paid by SCHC no later than June 30th of each year.&nbsp;&nbsp;The term of the Lease
Contract is for twenty years commencing from January 1, 2011 and the Lease Contract may be renewed by SCHC for an additional twenty
year period on the same terms.&nbsp;&nbsp;The Lessor has agreed to permit SCHC to reconstruct and renovate the existing bromine
production facilities on the property.</P>

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

<!-- Field: Page; Sequence: 32; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The chart below represents the annual production
capacity and annualized utilization ratios for our bromine producing properties currently leased by the Company, which are all
located in Shouguang City, Shandong Province, China.&nbsp;&nbsp;There are no proven and probable reserves located on our properties.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Bromine&nbsp;Property</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Facility <BR>Acquisition&nbsp;Date</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Acres</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Annual&nbsp;Production&nbsp;</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Capacity&nbsp;<SUP>#</SUP></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(in&nbsp;tons)</P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2011 <BR>Utilization <BR>Ratio</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2010 <BR>Utilization <BR>Ratio</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2009 <BR>Utilization <BR>Ratio</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 29%; text-align: left">Factory No. 1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: right">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">6,442</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">6,681</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">94</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">79</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 7%; text-align: right">97</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Factory No. 2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">April 7, 2007</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,846</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,844</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">59</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">73</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">81</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Factory No. 3</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">June 8, 2007</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,318</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,701</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Factory No. 4</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">October 26, 2007</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,310</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,801</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">77</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">94</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -9.35pt; padding-left: 9.35pt; vertical-align: top">Factory No. 5 and Factory No. 7 *</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right">October 25, 2007/</P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right">January 7, 2009</P></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,776</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,986</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">81</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Factory No. 6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">January 8, 2008</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,641</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,539</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">64</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">72</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Factory No. 8</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">September 7, 2009</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,723</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,016</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">66</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Factory No. 9</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">June 7, 2010</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">759</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,793</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Subdivision of Factory No. 1</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">January 1, 2011</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,186</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Factory No. 10</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: right">December 22, 2011</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,700</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Bromine production for Factory No. 5 and Factory No. 7 were combined
in early 2010 as both factories are located adjacent to each other.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><SUP>#</SUP></TD><TD STYLE="text-align: justify">Except for Factory No. 10, which was acquired after the assessment performed, annual production
capacities for other factories were reassessed by Grant Sherman Appraisal Limited on October 28, 2011.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each of the properties described above
was not in operation when the Company acquired the asset.&nbsp;&nbsp;The owners of each of the properties did not hold the proper
license for the exploration and production of bromine, and production at each of the assets acquired had been previously halted
by the government.&nbsp;&nbsp;With respect to Factory No. 2, the property had not been operational for nine months; with respect
to Factory No. 3, the property had not been operational for eleven months; with respect to Factory No. 4 and No. 5, the property
had not been operational for fifteen months; and with respect to Factory No. 6, the property had not been operational for eighteen
months; with respect to Factory No. 7, the property had not been operational for thirteen months; with respect to Factory No. 8,
the property had not been operational for fourteen months; and with respect to Factory No. 9 and No. 10, the assets had not been
operational for six months.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table shows the annual bromine
produced and sold for each of our production facilities and the weighted average price received for all products sold for the last
three years.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2011</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2010</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2009</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Bromine <BR>Facility</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Produced <BR>(in
    tons)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Sold <BR>(in
    tons)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Selling price<BR>
    (RMB/ton)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Produced <BR>(in
    tons)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Sold <BR>(in
    tons)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Selling price<BR>

    (RMB/ton)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Produced <BR>(in
    tons)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Sold <BR>(in
    tons)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Selling price<BR>
    (RMB/ton)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 19%; text-align: justify"><FONT STYLE="font-size: 8pt">Factory No. 1</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">6,304</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">6,353</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">26,372</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">9,598</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">9,492</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">20,018</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">11,680</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">11,659</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">12,583</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Factory No. 2</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,857</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,857</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">26,326</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,655</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,642</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">20,558</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,052</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,054</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">12,637</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Factory No. 3</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,984</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,960</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">26,313</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,782</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,779</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">20,282</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,255</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,237</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">12,459</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Factory No. 4</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,712</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,652</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">27,972</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,544</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,545</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">20,032</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,335</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,327</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">12,744</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -9.35pt; padding-left: 9.35pt"><FONT STYLE="font-size: 8pt">Factory No. 5 and Factory
    No. 7 *</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,243</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,261</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">26,566</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,621</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,581</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">19,800</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,488</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,470</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">12,685</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Factory No. 6</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,884</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,886</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">26,526</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,491</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,448</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">19,902</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,802</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,788</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">12,581</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Factory No. 8</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,664</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,677</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">26,150</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,268</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,242</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">19,905</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">420</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">395</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">15,356</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">Factory No. 9</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,970</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,999</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">26,181</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,023</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">943</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">22,759</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -9.35pt; padding-left: 9.35pt"><FONT STYLE="font-size: 8pt">Subdivision
    of Factory No. 1</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">543</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">518</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">23,372</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-size: 8pt">Total</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">27,161</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">27,163</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">34,982</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">34,672</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">35,032</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">34,930</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 10.1pt"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD><FONT STYLE="font-size: 10pt">Bromine production for Factory No. 5 and Factory No. 7 were combined in early 2010 as both factories
are located adjacent to each other.</FONT></TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table shows the annual crude
salt produced and sold for each of our production facilities and the weighted average price received for all products sold for
the last three years.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Crude&nbsp;Salt <BR>Facility</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Produced <BR>(in&nbsp;tons)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Sold <BR>(in&nbsp;tons)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Selling&nbsp;price <BR>(RMB/ton)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Produced <BR>(in&nbsp;tons)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Sold <BR>(in&nbsp;tons)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Selling&nbsp;price <BR>(RMB/ton)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Produced <BR>(in&nbsp;tons)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Sold <BR>(in&nbsp;tons)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Selling&nbsp;price <BR>(RMB/ton)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 19%; text-align: justify">Factory No. 1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">6,830</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">6,102</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">291</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">9,460</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">9,382</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">260</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">9,911</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">19,737</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">213</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Factory No. 2 <SUP>#</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,066</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">291</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -9.35pt; padding-left: 9.35pt">Factory No. 5 and Factory No. 7 *</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">130,370</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">123,525</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">289</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">156,100</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">146,373</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">195,318</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">180,347</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">172</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Factory No. 6</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">57,856</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">288</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">94,300</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100,278</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">282</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">112,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">143,800</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">194</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Factory No. 8</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71,750</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">80,625</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">290</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">121,484</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104,521</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">278</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,840</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,955</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">264</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Factory No. 9</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">53,400</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">55,788</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">294</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">30,300</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,882</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">310</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: justify">Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">360,850</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">355,962</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">411,644</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">370,437</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">335,069</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">356,839</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 10.1pt"><FONT STYLE="font-size: 10pt">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Bromine production for Factory No. 5 and Factory No. 7 were combined
in early 2010 as both factories are located adjacent to each other.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.1pt; text-align: justify; text-indent: -10.1pt"><SUP>#</SUP>&nbsp;&#9;Factory
No. 2 commenced the production of crude salt in 2011 after the acquisition of a nearby crude salt field in late December 2010.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table shows the chemical
products produced and sold for our SYCI&rsquo;s production facilities and the weighted average price received for all products
sold for the last three years.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Chemical <BR>Products</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Produced <BR>(in&nbsp;tons)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Sold <BR>(in&nbsp;tons)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Selling&nbsp;price <BR>(RMB/ton)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Produced <BR>(in&nbsp;tons)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Sold <BR>(in&nbsp;tons)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Selling&nbsp;price <BR>(RMB/ton)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Produced <BR>(in&nbsp;tons)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Sold <BR>(in&nbsp;tons)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Selling&nbsp;price <BR>(RMB/ton)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 19%; text-align: left">Oil and gas exploration additives</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">15,233</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">15,208</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">11,170</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">22,626</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">22,484</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">9,663</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">21,467</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">21,532</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; text-align: right">8,896</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Paper manufacturing additives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,618</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,622</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,506</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,145</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,130</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,564</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,265</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,264</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,977</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Pesticides manufacturing additives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,848</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,849</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,891</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,952</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,946</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,452</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,423</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,422</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,804</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Wastewater treatment chemical additives</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">120</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">120</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">29,026</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: justify">Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">21,819</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">21,799</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">30,723</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">30,560</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">27,155</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">27,218</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 3. Legal Proceedings.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company and certain of its officers
and directors (Ming Yang, Xiaobin Liu, and Min Li, collectively, the &ldquo;Individual Defendants&rdquo;) have been named as defendants
in a putative securities class action lawsuit alleging violations of the federal securities laws.&nbsp;&nbsp;That action, which
is now captioned<I> Lewy, et al. v. Gulf Resources, Inc., et al.</I>, No. 11-cv-3722 ODW (MRWx), was filed on April 29, 2011 in
the United States District Court for the Central District of California.&nbsp;&nbsp;The lead plaintiffs, who seek to represent
a class of all purchasers and acquirers of the Company&rsquo;s common stock between March 16, 2009 and April 26, 2011 inclusive,
filed an amended complaint on September 12, 2011.&nbsp;&nbsp;Lead plaintiffs assert claims for violations of Section 10(b) of the
Securities Exchange Act of 1934, and Rule 10b-5 thereunder.&nbsp;&nbsp;The amended complaint alleges the defendants made false
or misleading statements in the Company&rsquo;s Annual Reports on Form 10-K for the years ended December 31, 2008, 2009, and 2010,
and in interim quarterly reports by, among other things, overstating revenue and net income and failing to disclose material related
party transactions and certain facts about the CEO&rsquo;s prior employment at another company.&nbsp;&nbsp;The amended complaint
also asserts claims against the Individual Defendants for violations of Section 20(a) of the Securities Exchange Act of 1934. The
amended complaint seeks damages in an unspecified amount. On November 7, 2011, the Company filed a&nbsp;motion to&nbsp;dismiss
the amended complaint. On December 30, 2011, lead plaintiffs filed an opposition to the Company&rsquo;s motion to dismiss the amended
complaint. The Company filed a reply in further support of its motion to dismiss on February 6, 2012. In response to the Company&rsquo;s
reply in further support of its motion to dismiss, lead plaintiffs filed an objection on February 17, 2012, to certain documents
filed by the Company in support of its motion to dismiss. The Company opposed the objection on February 22, 2012, to which lead
plaintiffs replied in further support of their objection on February 23, 2012. The Court has not yet ruled on the motion to dismiss
nor the objections raised by lead plaintiffs.&nbsp;The Company intends to defend vigorously against the lawsuit.&nbsp;&nbsp;The
Company currently cannot estimate the amount or range of possible losses from this litigation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 4. Mine Safety Disclosures.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

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

<!-- Field: Page; Sequence: 34; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 5. Market for Registrant&rsquo;s
Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Market for Our Common Stock</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our common stock is listed for trading
on the NASDAQ Global Select Market, or NASDAQ, under the symbol &ldquo;GURE&rdquo;. The prices set forth below reflect the quarterly
high and low sales prices per share for our common stock, as reported by the NASDAQ:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">High</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Low</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-decoration: underline; text-align: left">2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 64%; text-align: left">First Quarter (through March 9)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">3.13</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">1.79</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-decoration: underline; text-align: left">2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">First&nbsp;Quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10.56</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5.52</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Second Quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.03</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.66</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Third Quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4.27</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.64</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Fourth Quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.54</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.64</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-decoration: underline; text-align: left">2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">First Quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14.74</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9.37</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Second Quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11.85</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8.06</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Third Quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.33</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Fourth Quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11.80</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7.94</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As&nbsp;of
March 9, 2012, our common stock was held of record by approximately 39 stockholders, some of whom may hold shares for
beneficial owners and have not been polled to determine the extent of beneficial ownership.</FONT>&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have never paid cash dividends on our
common stock. Holders of our common stock are entitled to receive dividends, if any, declared and paid from time to time by the
Board of Directors out of funds legally available. We intend to retain any earnings for the operation and expansion of our business
and do not anticipate paying cash dividends in the foreseeable future. Any future determination as to the payment of cash dividends
will depend upon future earnings, results of operations, future expansion of bromine and crude salt business and other,&nbsp;capital
requirements, our financial condition and other factors that our Board of Directors may consider.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Equity Compensation Plans</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table provides information
as of December 31, 2011 about our equity compensation plans and arrangements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Equity Compensation Plan Information -
December 31, 2011</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Plan&nbsp;category</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Number&nbsp;of&nbsp;securities&nbsp;to
    <BR>be&nbsp;issued&nbsp;upon&nbsp;exercise <BR>of&nbsp;outstanding&nbsp;options, <BR>warrants&nbsp;and&nbsp;rights</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Weighted-average <BR>exercise&nbsp;price&nbsp;of
    <BR>outstanding&nbsp;options, <BR>warrants&nbsp;and&nbsp;rights</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Number&nbsp;of&nbsp;securities&nbsp;remaining
    <BR>available&nbsp;for&nbsp;future&nbsp;issuance&nbsp;under <BR>equity&nbsp;compensation&nbsp;plans&nbsp;(excluding <BR>securities&nbsp;reflected&nbsp;in&nbsp;column&nbsp;(a))</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">(a)</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">(b)</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 7pt">(c)</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 46%; text-align: left"><FONT STYLE="font-size: 7pt">Equity compensation plans approved by security holders</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 7pt">0</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 7pt">0</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 7pt">0</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">Equity compensation plans not approved by security
    holders</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 7pt">893,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 7pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 7pt">5.50</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 7pt">2,960,018</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 7pt">Total</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">893,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">5.50</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,960,018</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
</TABLE>



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

<!-- Field: Page; Sequence: 35; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Stock Price Performance Graph</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following chart compares the cumulative
total shareholder return on the Company&rsquo;s shares of common stock with the cumulative total shareholder return of (i)&nbsp;the
NASDAQ Composite Index and (ii)&nbsp;S&amp;P Chemicals Index.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><img src="pg39.jpg"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COMPARISON OF CUMULATIVE TOTAL RETURN
OF ONE OR MORE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COMPANIES, PEER GROUPS, INDUSTRY INDEXES
AND/OR BROAD MARKETS</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="22" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">PERIOD/YEAR&nbsp;ENDING</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt"><B>COMPANY/INDEX</B>&nbsp;&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">12/31/2006</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">12/31/2007</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">12/31/2008</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">12/31/2009</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">12/31/2010</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">12/31/2011</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 28%; text-align: left"><FONT STYLE="font-size: 8pt">Gulf Resources, Inc.</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt">100.00</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt">414.80</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt">44.45</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt">431.84</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt">395.92</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 8pt">66.29</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">NASDAQ Composite Index</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">100.00</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">109.83</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">65.30</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">93.96</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">109.10</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">107.87</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">S&amp;P Chemicals Index</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">100.00</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">124.05</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">72.25</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">101.73</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">121.15</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">116.99</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The material in this chart is not soliciting
material, is not deemed filed with the SEC and is not incorporated by reference in any filing of the Company under the Securities
Act of 1933, as amended or the Exchange Act, whether made before or after the date of this proxy statement and irrespective of
any general incorporation language in such filing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Purchases of Equity Securities by the
Company and Affiliated Purchasers</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The authorization for the stock purchase
program expired on September 22, 2011. As a result the fourth quarter of our fiscal year ended December 31, 2011, neither we nor
any &ldquo;affiliated purchaser&rdquo; (as defined in Rule 10b-18(a)(3) under the Exchange Act) purchased any shares of our common
stock, the only class of our equity securities registered pursuant to section 12 of the Exchange Act.&nbsp;</P>

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

<!-- Field: Page; Sequence: 36; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Recent Sales of Unregistered Securities</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have reported all sales of our unregistered
equity securities that occurred during 2011 in our Reports on Form 10-Q or Form 8-K, as applicable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 6. Selected Financial Data.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You should read the following selected
financial data together with our financial statements and the related notes contained in Item 8 of Part II of this Annual Report
on Form 10-K. We have derived the statements of operations data for each of the three years ended December 31, 2009, 2010 and 2011
and the balance sheets data as of December 31, 2010 and 2011 from the audited financial statements contained in Item 8 of Part
II of this Form 10-K. The selected balance sheet data as of December 31, 2007, 2008 and 2009 and the statement of operations data
for the year ended 2007 and 2008 have been derived from the audited financial statements for such years not included in this Form
10-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The historical financial information set
forth below may not be indicative of our future performance and should be read together with &ldquo;Management&rsquo;s Discussion
and Analysis of Financial Condition and Results of Operations&rdquo; and our historical financial statements and notes to those
statements included in Item 7 of Part II and Item 8 of Part II, respectively, of this Annual Report on Form 10-K.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Years&nbsp;Ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">(In&nbsp;Thousands,&nbsp;Except&nbsp;per&nbsp;Share&nbsp;Amounts)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2011</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2010</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2009</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2008</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2007</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Statement of Operations Data:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 40%; text-align: left">Net revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">164,980</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">158,335</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">110,277</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">87,488</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">54,248</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Gross profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">75,442</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">78,080</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">47,579</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">33,957</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">22,140</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Included in operating expenses:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 14.2pt">Research and development cost</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(399</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(2,200</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(500</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(515</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(268</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 14.2pt">Exploration costs (1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(7,034</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 14.2pt">Write-off / Impairment on property, plant and equipment (2)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(7,571</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 14.2pt">Other operating income (expenses) (3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,821</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">224</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(4</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">98</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 14.2pt">General and administrative expenses (3)(4)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(17,874</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(6,871</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(5,345</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(2,865</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(1,847</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">44,298</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">69,096</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">41,712</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">30,573</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">20,122</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">30,953</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">51,283</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">30,591</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">22,395</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,233</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Earnings per share &ndash; Basic and Diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.89</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.48</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.90</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.51</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Weighted Average Number of Shares &ndash; Basic (&rsquo;000)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,661</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,615</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,699</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,917</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,172</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Weighted Average Number of Shares &ndash; Diluted (&rsquo;000)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,674</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,675</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,702</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,917</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,172</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As&nbsp;of&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">(In&nbsp;Thousands,&nbsp;Except&nbsp;per&nbsp;Share&nbsp;Amounts)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2011</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2010</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2009</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2008</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">2007</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Balance Sheet Data:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 40%; text-align: left">Cash, cash equivalents and short-term investments</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">78,576</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">68,494</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">45,537</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">30,878</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">10,773</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Working capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">93,338</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">79,763</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">51,667</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">24,669</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,150</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">258,328</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">206,721</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">146,423</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">89,359</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">46,329</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Capital leases (including current portion) (5)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,226</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Notes and loan payable (including current portion)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">22,987</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11,654</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Total debt (including current maturities)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">15,215</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,036</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,040</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">36,890</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19,861</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Stockholders' equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">243,113</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">192,685</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">134,383</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">52,469</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">26,468</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Exploration costs for the year ended December 31, 2011 represents the drilling of exploratory wells
and their associated facilities in Sichuan Province, PRC, for searching of natural brine resources. (See further discussion in
Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations &ndash; Exploration costs, Item 7.)</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">We made certain impairment on and write-off to our property, plant and equipment in second quarter
of 2011. (See further discussion in Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations
&ndash; Write-off/Impairment on property, plant and equipment, Item 7.)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">Other operating income (expenses) in relation to sales of wastewater and gain or loss on disposal
of property, plant and equipment for the years ended December 31, 2010, 2009, 2008 and 2007 has been reclassified from &ldquo;Other
Income (Expenses)&rdquo; after &ldquo;Income from Operations&rdquo; to &ldquo;Operating Expenses/Income&rdquo; for sales of wastewater
and gain on disposal of property, plant and equipment and &ldquo;General and Administrative Expenses&rdquo; for loss on disposal
of property, plant and equipment to conform with 2011&rsquo;s presentation and for comparability purposes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">General and administrative expenses for the years ended December 31, 2011, 2010, 2009 and 2007
included stock-based compensation expense of $7.5 million, $1.3 million, $2.0 million and $0.1 million, respectively, related to
employees stock options. Mineral resources compensation fees of $1.2 million and $1.3 million, previously included in general and
administrative expenses, for years ended December 31, 2009 and 2008 has been reclassified to costs of sales to conform with current
year&rsquo;s presentation and for comparability purposes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(5)</TD><TD STYLE="text-align: justify">We acquired certain property, plant and equipment under capital lease in 2011. (See further discussion
in &ldquo;Note 6 &ndash; Property, Plant and Equipment under Capital Leases, Net&rdquo; and &ldquo;Note 10 &ndash; Capital Lease
Obligations&rdquo; in the accompanying audited consolidation financial statement, Item 8.)</TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 37; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 7. Management&rsquo;s Discussion
and Analysis of Financial Condition and Results of Operations.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are a holding company which conducts
operations through our wholly-owned China subsidiaries.&nbsp;&nbsp;Our business is conducted and reported in three segments, namely,
bromine, crude salt and chemical products.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Through our wholly-owned subsidiary, SCHC,
we produce and trade bromine and crude salt. &nbsp;We are one of the largest producers of bromine in China, as measured by production
output. Elemental bromine is used to manufacture a wide variety of bromine compounds used in industry and agriculture. Bromine
also is used to form intermediary chemical compounds such as T.M.B.&nbsp;&nbsp;Bromine is commonly used in brominated flame retardants,
fumigants, water purification compounds, dyes, medicines and disinfectants.&nbsp;&nbsp;Crude salt is the principal material in
alkali production as well as chlorine alkali production and is widely used in the chemical, food &amp; beverage, and other industries.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Through our wholly-owned subsidiary, SYCI,
we manufacture and sell chemical products used in oil and gas field exploration, oil and gas distribution, oil field drilling,
wastewater processing, papermaking chemical agents and inorganic chemicals.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 12, 2006, we acquired, through
a share exchange, Upper Class Group Limited, a British Virgin Islands holding corporation which then owned all of the outstanding
shares of SCHC. Under accounting principles generally accepted in the United States, the share exchange is considered to be a capital
transaction in substance, rather than a business&nbsp;combination. That is, the share exchange is equivalent to the issuance of
stock by Upper Class for the net assets of our company, accompanied by a recapitalization, and is accounted for as a change in
capital structure. Accordingly, the accounting for the&nbsp;share exchange was identical to that resulting from a reverse acquisition,
except no goodwill was recorded. Under reverse takeover accounting, the post reverse acquisition comparative historical financial
statements of the legal acquirer, our company, are those of the legal acquiree, Upper Class Group Limited, which is considered
to be the accounting acquirer.&nbsp;Share and per share amounts reflected in this report have been retroactively adjusted to reflect
the merger.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 5, 2007, we, acting through
SCHC, acquired SYCI. Since the ownership of Gulf Resources, Inc. and SYCI was then substantially the same, the transaction was
accounted for as a transaction between entities under common control, whereby we recognized the assets and liabilities of SYCI
at their carrying amounts. &nbsp;Share and per share amounts stated in this report have been retroactively adjusted to reflect
the merger.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 31, 2008, SYCI completed the
construction of a new chemical production line. It passed the examination by Shouguang City Administration of Work Safety and local
fire department. This new production line focuses on producing environmental friendly additive products, solid lubricant and polyether
lubricant, for use in oil and gas exploration. The line has an annual production capacity of 5,000 tons. Formal production of this
chemical production line started on September 15, 2008.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On October 12, 2009 we completed a 1-for-4
reverse stock split of our common stock, such that for each four shares outstanding prior to the stock split there was one share
outstanding after the reverse stock split.&nbsp;&nbsp;All shares of common stock referenced in this report have been adjusted to
reflect the stock split figures.&nbsp;&nbsp;On October 27, 2009 our shares began trading on the NASDAQ Global Select Market under
the ticker symbol &ldquo;GFRE&rdquo; and on June 30, 2011 we changed our ticker symbol to &ldquo;GURE&rdquo; to better reflection
of our corporate name.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result of our acquisitions of SCHC
and SYCI, our historical financial statements and the information presented below&nbsp;reflects the accounts of SCHC and SYCI.&nbsp;The
following discussion should be read in conjunction with our consolidated financial statements and notes thereto appearing elsewhere
in this report.</P>

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

<!-- Field: Page; Sequence: 38; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Year ended December 31, 2011 as compared to year ended December
31, 2010</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Years ended</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">% Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 46%; text-align: left">Net Revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">164,980,453</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">158,335,023</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">4</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cost of Net Revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(89,538,212</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(80,254,759</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Gross Profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">75,442,241</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">78,080,264</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Sales, Marketing and Other Operating Expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(86,936</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(136,364</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(36</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Research and Development Costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(398,842</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(2,200,291</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(82</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Exploration Costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(7,034,153</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10pt; padding-left: 10pt">Write-off / Impairment on property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(7,570,566</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">General and Administrative Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(17,874,296</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(6,871,091</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">160</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other Operating Income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,821,010</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">223,715</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">714</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income from Operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">44,298,458</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">69,096,233</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(36</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other Income, Net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">57,173</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">241,936</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(76</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income before Taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">44,355,631</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">69,338,169</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(36</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Income Taxes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(13,402,871</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(18,054,849</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(26</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net Income</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,952,760</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">51,283,320</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(40</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Net Revenue</I></B> <B>&nbsp;&nbsp;&nbsp;</B>
Net revenue for the fiscal year 2011, was $164,980,453, representing an increase of $6,645,430 or 4% over the same period in 2010.
This increase was primarily attributable to (i) the growth in our bromine segment, in which revenue increased from $99,211,812
for the fiscal year 2010 to $107,849,304 for the same period in 2011, an increase of approximately 9%; and (ii) the strong growth
in our crude salt segment, in which revenue increased from $14,971,774 for the fiscal year 2010 to $15,918,655 for the same period
in 2011, an increase of approximately 6%. The increase in net revenue was partially offset by the decrease in our chemical products
segment, in which net revenue decreased from $44,151,437 for fiscal year 2010 to $41,212,494 for fiscal year 2011, a decrease of
approximately 7%.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Net&nbsp;Revenue&nbsp;by&nbsp;Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">2011&nbsp;vs.&nbsp;2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year&nbsp;Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year&nbsp;Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Percent&nbsp;Change</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,&nbsp;2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,&nbsp;2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">of&nbsp;Net&nbsp;Revenue</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent&nbsp;of&nbsp;total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent&nbsp;of&nbsp;total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%">Bromine</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">107,849,304</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">63</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">99,211,812</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">63</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">9</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">15,918,655</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,971,774</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Chemical Products</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">41,212,494</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">28</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">44,151,437</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">28</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total sales</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">164,980,453</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">158,335,023</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Years&nbsp;Ended&nbsp;December&nbsp;31</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Percentage&nbsp;Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Bromine&nbsp;and&nbsp;crude&nbsp;salt&nbsp;segments&nbsp;product&nbsp;sold&nbsp;in&nbsp;tonnes</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Increase/(Decrease)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 46%; text-align: left">Bromine (excluded volume sold to SYCI)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">26,418</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">33,386</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">(37.4</TD><TD STYLE="width: 1%; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">355,962</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">370,437</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3.9</TD><TD STYLE="text-align: left">)%</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Years&nbsp;Ended&nbsp;December&nbsp;31</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Percentage&nbsp;Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Chemical&nbsp;products&nbsp;segment&nbsp;sold&nbsp;in&nbsp;tonnes</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Increase/(Decrease)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 46%; text-align: left">Oil and gas exploration additives</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">15,208</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">22,484</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">(32.4</TD><TD STYLE="width: 1%; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Paper manufacturing additives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,622</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,130</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(29.4</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Pesticides manufacturing additives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,849</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,946</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3.3</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Wastewater treatment chemical additives</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">120</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21,799</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,560</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(28.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)%</TD></TR>
</TABLE>

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

<!-- Field: Page; Sequence: 39; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The increase in net revenue from our bromine
segment was mainly due to the increase in the average selling price of bromine. The average selling price of bromine increased
from $2,972 per tonne for fiscal year 2010 to $4,082 per tonne for the same period in 2011, an increase of 37%. The increase in
the average selling price was a result of (i) strong demand in the China market following the recovery of business and economic
conditions and reforms in the medical industry in China, and (ii) expansion of bromine applications in a variety of industries.
However, we noted that the effect of the increase in the average selling price was diminished due to the macro-economic tightening
policy imposed by the PRC government which weakened the demand of bromine beginning in the second half of 2011. The average selling
of bromine decreased from a high in the first quarter of 2011 ($4,596 per tonne) to the lowest in the third quarter of 2011 ($3,597
per tonne), and kept stable in the fourth quarter of 2011 ($3,716 per tonne). We expect the average selling price of bromine will
remain at current levels (around $3,716 per tonne) through the first half of 2012 should the PRC government&rsquo;s macro-economic
tightening policy remain in place.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The favorable effect of the increase in
the average selling price of bromine was almost offset by a decrease in the sales volume of bromine from 33,386 tonnes for fiscal
year 2010 to 26,418 tonnes for fiscal year 2011, a decrease of approximately 37%. Despite an increase in the number of our bromine
production plants in recent years, sales volume of bromine decreased. The reasons for the decrease in the sales volume of bromine
was mainly attributable to (i) the drop in overall demand for bromine as a result of the recent macro-economic tightening policy
imposed by the PRC government beginning in the second half of 2011 to slow down the economy; (ii) less bromine being extracted
from brine water during the production process due to the trend of a decrease in the bromine concentration of brine water being
extracted at our facilities; and (iii) the suspension of operations of our original Factory No. 4 in early July 2011 to cooperate
with the demolition of the factory and construction of new factory, which resumed normal production in late November 2011. The
table below showed the changes in the average selling price of bromine and changes in the sales volume of bromine for fiscal year
2011 from 2010.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Fiscal Year</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Increase / (Decrease) in net revenue of bromine as a result of:</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2011 vs. 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 82%">Increase in average selling price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">33,215,942</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Decrease in sales volume</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(24,578,450</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total effect on net revenue of bromine</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,637,492</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In an effort to address the trend of a
decrease in the bromine concentration of brine water being extracted at our facilities, we carried out enhancement projects to
our extraction wells in June 2011 by increasing the depth of our brine water wells to extract brine water from a lower second layer
which we believe will have a higher bromine concentration. Yet, the result of the enhancement projects was not reflected in fiscal
year 2011 as the overall demand of bromine decreased due to the macro-economic tightening policy imposed by the PRC government.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Crude salt segment</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The increase in net revenue from our crude
salt segment was mainly due to the increase in the average selling price of crude salt. The average selling price of crude salt
increased from $40.42 per tonne for fiscal year 2010 to $44.72 per tonne for fiscal year 2011, an increase of 11%. The increase
in the average selling price was a result of increased demand for crude salt and the increase in our production capacity was a
result of the additional crude salt field we acquired in late 2010.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The favorable effect of the increase in
the average selling price of crude salt was partially offset by a decrease in the sales volume of crude salt from 370,437 tonnes
for fiscal year 2010 to 355,962 tonnes for fiscal year 2011, a decrease of approximately 3.9%. The decrease in average selling
price was a result of the macro-economic tightening policy imposed by the PRC government beginning in the second half of 2011 to
slow down the economy, which decreased the demand for crude salt for downstream production of chlorine alkali and use in chemical,
food and beverage industries. The decrease in sales volume also was a result of the decrease in sales volume of bromine in fiscal
year 2011, which reduced the wastewater available for the production of crude salt. The table below shows the changes in the average
selling price and changes in the sales volume of crude salt for fiscal year 2011 from 2010.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Fiscal Year</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Increase / (Decrease) in net revenue of crude salt as a result of:</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2011 vs. 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 82%">Increase in average selling price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">1,563,056</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Decrease in sales volume</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(616,175</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total effect on net revenue of crude salt</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">946,881</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Despite the above increasing factor, we
noted a trend of decrease in the average selling price of crude salt for fiscal year 2011. The average selling price decreased
from $50.10 per tonne in the first quarter of 2011 to $37.67 per tonne in the fourth quarter of 2011. We expect the average selling
price of crude salt will remain at current levels through the first half of 2012 should the PRC government&rsquo;s macro-economic
tightening policy remain in place.&nbsp;</P>

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

<!-- Field: Page; Sequence: 40; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Chemical products segment</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Product&nbsp;Mix&nbsp;of&nbsp;Chemical&nbsp;Product&nbsp;Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">2011&nbsp;vs.&nbsp;2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year&nbsp;Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year&nbsp;Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Percent&nbsp;Change</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,&nbsp;2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,&nbsp;2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">of&nbsp;Net&nbsp;Revenue</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Chemical&nbsp;Products</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent&nbsp;of&nbsp;total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent&nbsp;of&nbsp;total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%; text-align: left">Oil and gas exploration additives</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">26,234,497</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">64</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">32,110,313</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">73</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">(18</TD><TD STYLE="width: 1%; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Paper manufacturing additives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,762,221</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,738,893</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(17</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Pesticides manufacturing additives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,679,768</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,302,231</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Wastewater treatment chemical products</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">536,008</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total sales</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">41,212,494</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">44,151,437</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues from our chemical products segment
decreased from $44,151,437 for fiscal year 2010 to $41,212,494 for fiscal year 2011, a decrease of approximately 7%. The decrease
was mainly attributable to the drop in demand for our oil and gas exploration additives and paper manufacturing additives. Our
oil and gas exploration chemicals are the most popular products within our chemical products segment and contributed $26,234,497
(or 64%) and $32,110,313 (or 73%) of our chemical segment revenue for fiscal years 2011 and 2010, respectively, a decrease of $5,875,816,
or 18%. Net revenue from our agricultural intermediates increased from $6,302,231 for fiscal year 2010 to $9,679,768 for fiscal
year 2011, an increase of approximately 54%. We believe that as result of the recent macro-economic tightening policy imposed by
the PRC government to slow down the economy, the overall demand for chemical products was reduced, which resulted in a decrease
in our volume of chemical products sold. The sales volume of chemical products decreased by 29% from 30,560 tonnes for fiscal year
2010 to 21,799 tonnes for fiscal year 2011.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">However, the effect of the decrease in
net revenue from our chemical products segment was partially offset by the increase in the average selling price for all of our
chemical products due to the continuing high level of oil prices. The average selling price per tonne for our chemical products
increased by a range of 18% (paper manufacturing additives) to 59% (pesticides manufacturing additives) for fiscal year 2011 as
compared with fiscal year 2010. In particular, the PRC government continued to support expansion of agricultural related products,
which supported the growth in sales of our pesticides manufacturing additives. Also, in June 2011 we stopped production of our
wastewater treatment chemical additive and in July we successfully converted the production equipment from this wastewater treatment
chemical additive to pharmaceutical and agricultural chemical additives which have higher profit margins. The table below shows
the changes in the average selling price and changes in the sales volume of our major chemical products, other than wastewater
treatment chemical additive, for fiscal years 2011 and 2010.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt; text-align: left">Increase / (Decrease) in net revenue of major chemical products,<BR>
 for fiscal year 2010 vs. 2011, as a result of:</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Oil and Gas <BR>
Exploration<BR>
 Additives</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Paper<BR>
 Manufacturing<BR>
 Additives</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Pesticides<BR>
 Agricultural<BR>
 Additives</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 52%">Increase in average selling price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">5,595,675</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">858,184</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">3,647,206</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">10,101,065</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Decrease in sales volume</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(11,471,491</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,834,856</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(269,669</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(13,576,016</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total effect on net revenue of chemical products</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(5,875,816</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(976,672</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,377,537</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(3,474,951</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Cost of Net Revenue</I></B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Cost&nbsp;of&nbsp;Net&nbsp;Revenue&nbsp;by&nbsp;Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; padding-bottom: 1pt">%&nbsp;Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year&nbsp;Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year&nbsp;Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">of&nbsp;Cost&nbsp;of</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,&nbsp;2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,&nbsp;2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Net&nbsp;Revenue</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent&nbsp;of&nbsp;total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent&nbsp;of&nbsp;total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%">Bromine</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">56,468,761</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">61</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">48,530,822</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">61</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">16</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,776,283</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,295,841</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Chemical Products</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">28,293,168</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">35</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">28,428,096</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">35</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total Cost of Net Revenue</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">89,538,212</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">80,254,759</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<!-- Field: Page; Sequence: 41; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of net revenue reflects mainly the
raw materials consumed and the direct salaries and benefits of staff engaged in the production process, electricity, depreciation
and amortization of manufacturing plant and machinery and other manufacturing costs. Our cost of net revenue was $89,538,212 for
fiscal year 2011, an increase of $9,283,453 (or approximately 12%) compared to fiscal year 2010. The increase was primarily due
to the increase in the purchase price of raw materials, depreciation and amortization of manufacturing plant and machinery, mineral
resource compensation fees paid for extraction of brine water in our bromine segment and price adjustment fund imposed by the local
PRC government to our bromine and crude salt segments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Bromine production capacity and utilization
of our factories</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below represents the annual capacity
and utilization ratios for our all of our bromine producing properties:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Annual&nbsp;Production <BR>Capacity</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Utilization&nbsp;Ratio&nbsp;*</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">(in&nbsp;tonnes)</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 64%; text-align: left">Fiscal Year 2010</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">46,300</TD><TD STYLE="width: 1%; text-align: left">#</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">79</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Fiscal Year 2010, adjusted (included factory acquired in early 2011)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">49,500</TD><TD STYLE="text-align: left">#</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Fiscal Year 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,547</TD><TD STYLE="text-align: left">#</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">67</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Variance of Fiscal Year 2010 (adjusted) vs. 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,953</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12</TD><TD STYLE="text-align: left">)%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"># Annual production capacities for 2010
were estimated by management, and the annual production capacity for 2011 was extracted from an appraisal report carried out by
an international appraisal firm, Grant Sherman Appraisal Limited, in October 2011.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">* Utilization ratio is calculated based
on the annualized actual production volume in tonnes for the year divided by the annual production capacity in tonnes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since 2007, we continued to acquire bromine
properties to increase the production capacity to meet demand. However, the cost of obtaining additional production capacity in
recent years increased significantly due to the limited availability of suitable bromine facilities. Prior to 2009, we acquired
production facilities at costs of approximately $34.6 million (or $1,460 per ton production capacity), with annual production capacity
increased by 23,700 tons (from initially 12,000 tons). In 2009 and 2010, we acquired further production facilities at costs of
approximately $27.5 million and $13.9 million for additional 7,600 tons (or $3,620 per ton production capacity) and 3,000 tons
(or $4,630 per ton production capacity) annual production capacity, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2011, we acquired another facility and
incurred capital improvement for bromine and crude salt production in 2011 at costs of $6.2 million with additional bromine annual
production capacity of 3,200 tons (or $1,930 per ton production capacity). The cost per ton production capacity acquired in 2011
is comparatively lower than the factories acquired prior to 2011 because the term of lease for the newly acquired facility only
lasts for 20 years, where the lease term for factories acquired before 2011 were all 50-year lease terms. The latest acquired cost
per ton production capacity would be increased to $4,825 if the lease term would have been 50 years.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In view of the recent trend of a
decrease in bromine concentration of brine water being extracted in Shandong areas, we determined that the existing annual
production capacity information previously estimated by the management at the time of acquisition of the respective factory
may not accurately reflect the current production and information available. As a result, we hired an international
appraisal firm, Grant Sherman International Limited, to reassess all of our bromine facilities in October 2011 and concluded
that our optimal annual production capacity in given our current situation was 41,547 tons, a decrease of 7,953 tons annually
as compared to the annual production capacity in 2010, which included additional 3,200 tons&rsquo; production
capacity acquired in early 2011. The decrease in our overall annual bromine production capacity was mainly attributable to
(1) active aging of bromine facilities, in particular, certain protective shells for the crude salt fields, extraction wells
and transmission channels and ducts, which increased the leakage rate and directly reduced the volume of brine water
available to flow into the bromine production cycle, and (2) a trend of decrease in the bromine concentration of brine water
being extracted from our existing extraction wells.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In order to reduce the leakage rate
and attempt to recover the annual production capacity of bromine and crude salt to a higher level in the future, we decided
to carry out large scale enhancement work to replace all the eroded protective shells within a four year timeframe, which
work commenced in the second quarter of 2011. The priority of the enhancement work depends upon the rate of corrosion at each
factory. In fiscal year 2011, we incurred costs of $32.5 million for such enhancement projects, which included
(1) drilling certain existing extraction wells into deeper underground for higher bromine concentration of brine water at a
cost of approximately $12.4 million, and (2) replacing certain eroded protective shells to the crude salt fields, and
transmission channels and ducts with new ones at costs of approximately $12.4 million and $7.7 million. The enhancement work
for all of our crude salt fields&rsquo; protective shells was completed in 2011, and the Company is not expected to carry out
such enhancement works to the fields during the course of the next 5 years.</P>

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

<!-- Field: Page; Sequence: 42; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below summarizes the schedule
for enhancement work to the protective shells to extraction wells and transmission channels and ducts in the next three years.</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 98%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Enhancement&nbsp;work&nbsp;timetable</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">to:</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Total&nbsp;no.&nbsp;of&nbsp; <BR>wells&nbsp;/&nbsp;length <BR>of&nbsp;channels <BR>and&nbsp;ducts</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">%&nbsp;completed&nbsp; <BR>by&nbsp;end&nbsp;of&nbsp; <BR>2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">To&nbsp;be&nbsp;done&nbsp; <BR>in 2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">To&nbsp;be&nbsp;done&nbsp; <BR>in 2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">To&nbsp;be&nbsp;done&nbsp; <BR>in 2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Expected&nbsp;costs&nbsp;for <BR>each&nbsp;year&nbsp;of&nbsp;2012&nbsp; <BR>to 2014&nbsp;(in&nbsp;$&rsquo;000)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 28%; text-align: left">Extractive wells</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">7,698 wells</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">47</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">18</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">18</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">17</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">12,360</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Protective&nbsp;shells&nbsp;for transmission channels and ducts</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD NOWRAP STYLE="border-bottom: Black 1pt solid; text-align: right">61,790 meters</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">36</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">22</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,630</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">19,990</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The optimal annual bromine
production capacity of 41,547 tons for 2011, as reassessed by the international appraisal firm in October 2011, only
partially reflected the enhancement work for the extraction wells, protective shells for transmission channels and ducts
performed in the second quarter of 2011. Nevertheless, our annual production capacity still recorded a decrease of 7,953 tons
as compared with management&rsquo;s prior estimates. Although this decline is not insignificant, we believe that the
situation would have been worse if  we have not started to carry out the enhancement work in the second quarter of 2011, as
we anticipated that this trend in bromine concentration of brine water in the Shandong areas will continue and the leakage
rate of our aged protective shells for transmission channels and ducts  would continue to adversely affect our bromine
production capacity in the future. To remedy and recover our annual bromine production capacity, we will continue to carry
out the remaining enhancement work to the extraction wells, and protective shells for transmission channels and ducts in the
next three years at expected annual costs of $20 million.</P>



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The management considered that the protective
shells for the crude salt fields, extraction wells and transmission channels and ducts are individual components that can be separately
identified for replacement, while the enhancement costs incurred increases the future service potential of the extraction wells,
crude salts fields and transmission channels and ducts. The original eroded protective shells were replaced and removed from the
fixed assets. The management estimated that the enhancement projects for extraction wells and protection shells for the crude salt
fields, extraction wells and transmission channels and ducts will have useful lives of 8 and 5 years, respectively. As such, the
Company capitalized the enhancement components as separate fixed asset items and depreciated with their useful lives of 5 to 8
years.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our utilization ratio decreased by 12%
for fiscal year 2011 as compared with fiscal year 2010. The decrease in utilization and hence the sales volume of bromine was mainly
attributable to (i) the suspension of operations of our original Factory No. 4 in early July 2011 to cooperate with the demolition
of the factory and construction of a new factory, which was completed its construction and resumed normal operations in late November
2011; and (ii) intermittent suspension of operations of some of our factories in the first half of 2011 due to the annual scheduled
repair and maintenance, the increased number of environmental inspections by the local government and the restriction of the supply
of electricity to all industrial factories by the local government. We estimated that the amount of ordinary repair and maintenance
expense will be $1.5 million in 2012.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As normal operations of our bromine and
crude salt, most of our fixed assets require less daily repair and maintenance. These kinds of plant and equipment include the
crude salt fields, channels and ducts, and extraction wells. Without altering the foundation of these assets, the protective shells
attached to the foundation are required to be replaced with their life cycle, which is around every 5 to 8 years. The ordinary
repairs and maintenance costs incurred during each year represents mainly the costs of spare parts of manufacturing machinery and
pumps for bromine extraction, and salaries for repair and maintenance department.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the fiscal year 2011, the cost of net
revenue for our bromine segment was $56,468,761, an increase of $7,937,939 (or 16%) compared to $48,530,822 for the fiscal year
2010. The most significant components of our cost of net revenue for the bromine segment were cost of raw materials and finished
goods consumed of $34,844,710 (or 62%), depreciation and amortization of manufacturing plant and machinery of $10,786,076 (or 19%)
and electricity of $4,198,738 (or 7%) for fiscal year 2011. The major components of the cost of revenue for fiscal year 2010 were
cost of raw materials and finished goods consumed of $31,707,281 (or 65%), depreciation and amortization of manufacturing plant
and machinery of $7,330,200 (or 15%) and electricity of $4,881,580 (or 10%), a similar cost structure as compared with the same
in 2011. The increase in cost of net revenue was attributable to the increase in raw material prices and depreciation and amortization
of manufacturing plant and machinery. The table below represents the major production cost component of bromine per ton for respective
periods:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year&nbsp;Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year&nbsp;Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,&nbsp;2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,&nbsp;2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">%&nbsp;Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent&nbsp;of&nbsp;total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent&nbsp;of&nbsp;total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%; text-align: left">Raw materials</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1,319</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">62</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">950</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">65</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">39</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">408</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">220</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">85</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Electricity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">159</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">146</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Others</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">252</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">138</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">83</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Production cost of bromine per ton</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,138</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,454</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our
production cost of bromine per ton was $2,138 for the fiscal year 2011, an increase of 47% (or $684) as compared to the fiscal
year 2010, which attributable mainly to the components of raw material and depreciation and amortization of manufacturing plant
and machinery. The cost of raw material consumed per ton increased by 39% as compared to last comparison period mainly attributable
to the increase in the purchase price of raw materials. The significant percentage increase in depreciation and amortization per
ton by 85% was due to the enhancement projects in late June 2011 to our crude salt fields, extraction wells and transmission channels
and ducts, together with the change in the estimated useful life of certain protective shell and transmission channels and ducts
from 8 years to 5 years, which accelerated the depreciation and amortization of the plant and machinery.</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Since
January 2011, included in our others production cost was a price adjustment fund, a levy charged by PRC government, of $32 per
tonne.</FONT></P>

<!-- Field: Page; Sequence: 43; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Crude salt segment</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the fiscal year 2011, the cost of net
revenue for our crude salt segment was $4,776,283, representing an increase of $1,480,442, or 45%, over the same period in 2010.
The increase in cost was mainly due to the increase in the number of crude salt fields and enhancement projects performed in late
June 2011, which in turn increased the depreciation and amortization of manufacturing plant and machinery. The significant costs
were depreciation and amortization of $2,546,780 (or 53%), resource tax calculated based on the crude salt sold of $935,333 (or
20%) and electricity of $501,005 (or 10%) for the fiscal year 2011. The major cost components were depreciation and amortization
of $1,030,264 (or 31%), resource tax calculated based on the crude salt sold of $947,576 (or 29%) and electricity of $741,451 (or
23%) for fiscal year 2010. The table below represents the major production cost component of crude salt per ton for respective
periods:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">% Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%; text-align: left">Depreciation and amortization</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">7.2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">53</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2.8</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">31</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">157</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Resource tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Electricity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(30</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Others</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2.2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1.5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Production cost of crude salt per ton</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">13.4</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8.9</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our production cost of crude salt per ton
was $13.4 for the fiscal year 2011, an increase of 51% (or $4.5) as compared to the same period in 2010, which attributable mainly
to the components of depreciation and amortization of manufacturing plant and machinery and introduction of price adjustment fund
since January 2011. The significant percentage increase in depreciation and amortization per ton by 157% was due to the enhancement
projects period in late June 2011 to our crude salt fields, extraction wells and transmission channels and ducts, together with
the change in the estimated useful life of certain protective shell and transmission channels and ducts from 8 years to 5 years,
which accelerated the depreciation and amortization of the plant and machinery. Since January 2011, included in our others production
cost was a price adjustment fund, a levy charged by PRC government, of $0.4 per tonne. Other production costs represented mainly
salaries and welfare of labor worked in the crude salt fields.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Chemical products segment</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the fiscal year 2011, the cost of net
revenue for our chemical products segment was $28,293,168, representing a decrease of $134,928 or 0.47% over the same period in
2010. The rate of decrease for the cost of net revenue for our chemical products segment was similar to that of net revenue. The
significant costs were cost of raw material and finished goods consumed of $24,731,108 (or 87%) and $25,458,672 (or 90%) and depreciation
and amortization of manufacturing plant and machinery of $2,325,050 (or 8%) and $1,673,358 (or 6%) for each of the fiscal years
2011 and 2010, respectively. As the components of our cost of net revenue are fixed levels of depreciation and amortization of
manufacturing plant and machinery and the inflated purchase price of raw materials, the overall cost of net revenue for chemical
products segment remained at a same level for the fiscal year 2011 compared to the fiscal year 2010.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Gross Profit </I></B>Gross profit
was $75,442,241, or 46%, of net revenue for fiscal year 2011 compared to $78,080,264, or 49%, of net revenue for fiscal year 2010.
The decrease in gross profit percentage was primarily attributable to a drop in margin percentage to all of our three segments.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Gross Profit by Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; padding-bottom: 1pt">% Point</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Change of</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Gross Profit</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of Net<BR>
 Revenue</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of Net<BR>
 Revenue</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%">Bromine</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">51,380,543</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">48</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">50,680,990</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">51</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">(3</TD><TD STYLE="width: 1%; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11,142,372</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">70</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11,675,933</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">78</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Chemical Products</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,919,326</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">31</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">15,723,341</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">36</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total Gross Profit</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">75,442,241</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">46</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">78,080,264</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">49</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)%</TD></TR>
</TABLE>

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

<!-- Field: Page; Sequence: 44; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the fiscal year 2011, the gross profit
margin for our bromine segment was 48% compared to 51% for the fiscal year 2010. The average selling price of bromine increased
from $2,972 per tonne for fiscal year 2010 to $4,082 per tonne for fiscal year 2011, an increase of 37%. We do not expect that
the selling price for bromine will continue to increase in 2012. As mentioned before, due to a decrease in the bromine concentration
of brine water being extracted and the PRC government&rsquo;s macro-economic tightening policy, our production level and sales
volume for the second half of 2011 was adversely affected. In order to improve the quality of brine water being extracted from
our wells, we completed enhancements of our facilities during the second quarter of 2011 to pump brine water from deeper underground.
We expect that the production capacity of bromine will improve in the near future as a result of these enhancements and that the
gross profit margin of bromine will remain at current level through the first half of 2012 should the PRC government&rsquo;s macro-economic
tightening policy remains in place.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Crude salt segment</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the fiscal year 2011, the gross profit
margin for our crude salt segment was 70% compared to 78% for the fiscal year 2010. This 8% decrease in our gross profit margin
is attributable to (i) the increase in depreciation and amortization of manufacturing facilities as a result of the enhancement
projects performed in late June 2011 to our crude fields, extraction wells and transmission channels and ducts; and (ii) the change
in the estimated useful life of certain protective shells and transmission channels and ducts from 8 years to 5 years. For the
fiscal year 2011, the average selling price of crude salt increased to $44.72 per ton, as compared from $40.42 per ton in the fiscal
year 2010, an increase of 11%. As mentioned hereinbefore, the increase in average selling price was a result of increased demand
of crude salt which was offset by the increase in cost of net revenue.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Chemical products segment</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The gross profit margin for our chemical
products segment for the fiscal year 2011 was 31% compared to 36% for the fiscal year 2010, a decrease of 5%. As mentioned hereinbefore,
the decrease in gross profit margin was a result of the decrease in demand for our oil and gas exploration additives and paper
manufacturing additives which in turn reduced the sales volume of these chemical products. As sales of oil and gas exploration
additives contributed more than 64% of our total chemical products segment&rsquo;s net revenue, the decrease in demand largely
reduced the gross profit margin of our chemical products segment. However, our factory is capable of producing diversified chemical
products, the selling price fluctuation of individual chemical products is not expected to have an impact on our gross profit margin
for overall chemical products.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Research and Development Costs</I></B>
The total research and development costs incurred for the fiscal years 2011 and 2010 were $398,842 and $2,200,291, respectively,
with a decrease of 82%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Included in research and development costs
are costs paid to East China University of Science and Technology for the establishment of a Co-Op Research and Development Center
in June 2007 to develop new bromine-based chemical compounds and products to be utilized in the pharmaceutical industry. On June
7, 2011, SYCI and East China University of Science and Technology mutually agreed to terminate the Co-op Research Agreement due
to the successful completion of the cooperative research and development tasks related to the development of bromine-related chemical
products for us. The research and development costs paid pursuant to this agreement amounted to $236,816 and $503,382 for the fiscal
years 2011 and 2010, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since the second quarter of 2010, SYCI
conducted research for the new production line of wastewater treatment additives, the purpose of which is for the testing the manufacturing
routine and samples. The research and development expenses incurred for the new production line of wastewater treatment additives
during the fiscal years 2011 and 2010 were $162,025 and $1,696,909, respectively. The new production line began operations in April
2011. However, we switched the aforesaid production line to the production of pharmaceutical and agricultural chemical intermediates
in mid-June 2011 as we experienced some technological limitations on extraction purity, which lead to a lower than expected gross
margin for wastewater treatment chemical additives. The converted new production line was started operation and normal production
in late July 2011 with positive cash from operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Exploration Costs</I></B> To explore
natural brine resources in Sichuan Province, SCHC incurred exploration costs in the amount of $7,034,153 for the fiscal year 2011.
These costs consisted of the drilling of exploratory wells and associated facilities in order to confirm and measure the brine
water resources in the province. We charged the exploration costs to the income statement as incurred. We completed the drilling
of the first exploratory well in December 2011 and announced in mid-January 2012 that we have discovered underground brine water
resources in Daying County, and provided preliminary concentration results after the testing by a third-party independent testing
expert. According to the third-party independent testing report, the bromine concentration in the underground brine water resources
is 1.53 grams per liter, which is approximately six to seven times higher than the average bromine concentration from its brine
water resources at our bromine factories in Shouguang City. We expects to continue to cooperate with Daying County in 2012 and
drilling in order to further determine the total brine water resources reserve and exploitable amount in the area.</P>

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

<!-- Field: Page; Sequence: 45; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Write-off/Impairment on property,
plant and equipment</I></B> The write-off and impairment on property, plant and equipment represented (i) the write-off on property,
plant and equipment that could not be relocated to the new Factory No. 4 in the amount of $1,384,443; (ii) the impairment loss
on property, plant and equipment related to the conversion of our production line from wastewater treatment chemical additives
to the production of pharmaceutical and agricultural chemical intermediates in the amount of $1,805,598; (iii) the impairment loss
on property, plant and equipment under capital leases for idle plant and machinery in the amount of $683,046; and (iv) the write-off
of certain crude salt field protective shells and transmission pipelines replaced during renovation work in the amounts of $1,632,004
and $2,065,475, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>General and Administrative Expenses&nbsp;</I></B>
General and administrative expenses were $17,874,296 in fiscal year 2011, an increase of $11,003,205 (or 160%) compared to $6,871,091
for the same period in 2010. The significant increase was primarily due to non-cash expenses of $7,481,400 for the fiscal year
2011 related to options granted to our employees in the amount of $2,731,400, recognition of non-vested options which were cancelled
in late September 2011 in the amount of $4,298,000, and a warrant issued to our investor relations firm in the amount of $452,000
related to a the service agreement signed in February 2011. The non-cash expenses related to options and a warrant granted for
the fiscal year 2010 amounted to $1,282,428, which resulted in an increase of $6,198,972, or 483%, as compared with the fiscal
year 2011. The increase in stock options was primarily for the purpose of incentivizing our employees. Other reasons for the increase
in general and administrative expenses were due to (i) demolition and re-installation expense in the amount of $626,272 for relocating
Factory No. 4 due to the Chinese government taking the leased land, where our original Factory No. 4 was situated, for civil redevelopment;
(ii) $229,052 of depreciation of property, plant and equipment for Factory No. 4 which were temporarily suspended operations due
to the relocation; (iii) $1,398,574 of unrealized exchange loss in relation to the translation difference of inter-company balances
in USD and RMB; and (iv) $3,154,400 of consultancy fee paid to an unrelated PRC agent for the purpose of searching suitable crude
salt fields and bromine properties for acquisition.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Other Operating Income</I></B> Other
operating income was $1,821,010 for the fiscal year 2011, a significant increase of $1,597,295 from $223,715 for the fiscal year
2010. Such increase was primarily due to (i) a sum of $1,340,026 received from the local PRC government in third quarter of 2011
as compensation for the demolition of our original Factory No. 4; and (ii) a sum of $300,000 for compensation received from a legal
case. Included in other operating income for the fiscal years 2011 and 2010 were $180,984 and $223,715 income from sales of wastewater
to some of our customers. Not all of our bromine production plants have sufficient area on the property to allow for evaporation
of wastewater to produce crude salt. Certain of our customers who have facilities located adjacent to our bromine production plants
have agreed to channel our wastewater into brine pans on their properties for evaporation. These customers then are able to sell
the resulting crude salt themselves. We have signed agreements with three of our customers to sell them our wastewater at market
prices.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Income from Operations </I></B>Income
from operations was $44,298,458 for the fiscal year 2011 (or 26.9% of net revenue), a decrease of $24,797,775 (or approximately
36%) over income from operations for the fiscal year 2010. The decrease resulted primarily from the decrease in net revenue as
a result of (i) the macro-economies tightening policy imposed by the PRC government to slow down the economy, which in turn decrease
the demand and selling price of our products; and (ii) a non-cash expense of $4,298,000 related to cancellation of all non-vested
stock options in late September 2011 as explained hereinbefore.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Income from Operations by Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Year Ended December 31, 2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Year Ended December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Segment:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 52%; text-align: justify">Bromine</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">37,023,963</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">67</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">48,474,611</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">69</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,688,190</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11,360,476</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Chemical Products</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10,237,586</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">19</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,218,613</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">15</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Income from operations before corporate costs</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">54,949,739</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">72,053,700</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Corporate costs</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(10,651,281</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,957,467</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Income from operations</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">44,298,458</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">69,096,233</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Income from operations from our bromine
segment was $37,023,963 for the fiscal year 2011, a decrease of $11,450,648 (or approximately 24%) compared to the same period
in 2010. Despite the effect of increase in bromine&rsquo;s selling price which contributed an increase of approximately $33 million
in income from operations, the overall decrease in income from operations bromine segment resulted primarily from (i) the decrease
in sales volume (contributed a decrease of approximately $25 million) as a result of the PRC government&rsquo;s macro-economies
tightening policy which decrease the demand of bromine; (ii) the increase in cost of net revenue, in particular, cost of raw material
and depreciation and amortization of manufacturing plant and machinery (contributed a decrease of approximately $6 million); (iii)
the impairment losses and write-off of certain property, plant and equipment (contributed a decrease of approximately $4 million);
and (iv) the increase in exploration costs to explore natural brine resources in Sichuan province (contributed a decrease of approximately
$6 million).</P>

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

<!-- Field: Page; Sequence: 46; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Crude salt segment</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Income from operations from our crude salt
segment was $7,688,190 for the fiscal year 2011, a decrease of $3,672,286 (or approximately 32%) compared to the fiscal year 2010.
This decrease was mainly due to (i) the impairment losses and write-off of certain property, plant and equipment of approximately
$2 million; and (ii) the increase in exploration costs to explore natural brine resources in Sichuan province of approximately
$1 million, which outweighed the increase in net revenue of approximately $1 million.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Income from operations from our chemical
products segment was $10,237,586 for the fiscal year 2011, a decrease of $1,981,027 (or approximately 16%) compared to the fiscal
year 2010. This decrease resulted primarily from (i) the decrease in net revenue of our oil and gas exploration chemicals and paper
manufacturing additives of approximately $6.9 million due to the decreased demand; and (ii) the impairment losses and write-off
of certain property, plant and equipment of approximately $1.8 million, which was partially offset by (i) the increase in net revenue
of our agricultural intermediates of approximately $3.4 million; (ii) the net revenue from wastewater treatment chemical products
of approximately $0.5 million; and (iii) the decrease in our research and development costs incurred and paid to East China University
of Science and Technology of approximately $1.8 million as explained hereinbefore.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Other Income, Net</I></B> Other income
represented bank interest income, net of the capital lease interest expense. The decrease in net other income was primarily due
to the charge of capital lease interest expense since January 2011 for the acquisition of fixed assets under capital lease.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Net Income</I></B> Net income was
$30,952,760 for the fiscal year 2011, a decrease of $20,330,560 (or approximately 40%) compared to the fiscal year 2010. This decrease
was primarily attributable to the impairment losses recognized for and the write-off of certain property, plant and equipment of
approximately $7.6 million, exploration costs related to the drilling of exploratory wells in Sichuan province of approximately
$7 million and recognition of non-vested options which cancelled in late September 2011 of approximately $4.3 million.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Effective tax rate </I></B>Our effective
tax rate for the fiscal year 2011 was 30%, represented an increase of 4% as compared to the same periods in 2010. The significant
increase in the effective tax rate was due to the US federal net operating loss incurred by Gulf during 2011 in respect of the
non-cash expenses of $4,298,000 for the fiscal year 2011 related to the recognition of non-vested options granted to employees
which were cancelled in late September 2011. We considered that such non-cash expense is a one-off item and did not anticipate
this will be a recurring item in the future.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Year ended December 31, 2010 as compared to year ended December
31, 2009</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">Years&nbsp;ended</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,&nbsp;2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,&nbsp;2009</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">%&nbsp;Change</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 64%; text-align: left">Net Revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">158,335,023</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">110,276,908</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">44</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cost of Net Revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(80,254,759</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(62,697,871</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Gross Profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">78,080,264</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">47,579,037</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">64</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Sales, Marketing and Other Operating Expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(136,364</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(21,712</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">528</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Research and Development Costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(2,200,291</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(500,406</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">340</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">General and Administrative Expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(6,871,091</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(5,344,833</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other Operating Income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">223,715</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income from Operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">69,096,233</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">41,712,086</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">66</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other Income, Net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">241,936</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">63,727</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">280</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income before Taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">69,338,169</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">41,775,813</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">66</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Income Taxes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(18,054,849</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(11,184,398</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">61</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net Income</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">51,283,320</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,591,415</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">68</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Net Revenue</I></B> <B>&nbsp;&nbsp;&nbsp;</B>
Net revenue was $158,335,023 in fiscal year 2010, an increase of approximately $48 million (or 44%) as compared to fiscal year
2009. This increase was primarily attributable to (i) the strong growth in our bromine segment, in which revenue increased from
$63,679,888 for fiscal year 2009 to $99,211,812 for fiscal year 2010, an increase of approximately 56%; (ii) the strong growth
in our crude salt segment, in which revenue increased from $10,650,698 for fiscal year 2009 to $14,971,774 for fiscal year 2010,
an increase of approximately 41%; and (iii) strong demand in our chemical products segment, in which revenue increased from $35,946,322
for fiscal year 2009 to $44,151,437 for fiscal year 2010, an increase of approximately 23%.</P>

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

<!-- Field: Page; Sequence: 47; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Net Revenue by Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">2010 vs. 2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Percent Increase</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">of Net Revenue</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%">Bromine</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">99,211,812</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">63</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">63,679,888</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">58</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">56</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,971,774</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,650,698</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Chemical Products</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">44,151,437</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">28</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">35,946,322</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">33</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total sales</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">158,335,023</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">110,276,908</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Years Ended December 31</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Percentage Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Bromine and crude salt segments product sold in tonnes</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Increase/(Decrease)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 64%; text-align: left">Bromine (excluded volume sold to SYCI)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">33,386</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">34,342</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">(2.8</TD><TD STYLE="width: 1%; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">370,437</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">356,839</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.8</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Years Ended December 31</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Percentage Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Chemical products segment sold in tonnes</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Increase/(Decrease)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 64%; text-align: left">Oil and gas exploration additives</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">22,484</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">21,532</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">4.4</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Paper manufacturing additives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,130</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,264</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.3</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Pesticides manufacturing additives</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,946</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,422</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">107.2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,560</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">27,218</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.3</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The increase in net revenue from our bromine
segment was mainly due to the increase in the average selling price of bromine. The average selling price of bromine increased
from $1,854 per ton for the fiscal year 2009 to $2,972 per ton for fiscal year 2010, an increase of 60%. The increase in average
selling price was a result of (i) strong demand for brominated flame retardants, fumigants, water purification compounds, dyes,
medicines, and disinfectants in the China market following the recovery of business and economic conditions and reforms in the
medical industry in China; (ii) expansion of bromine applications in a variety of industries for cleaning up sulfur and mercury
from polluted areas and wastewater treatment; (iii) no major cost effective substitute for bromine in the pharmaceutical area;
(iv) strong domestic consumption as historically limited bromine was imported into China; and (v) no new bromine reserves were
discovered in 2009 and 2010.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">However, the sales volume of bromine decreased
from 34,342 tonnes for fiscal year 2009 to 33,386 tonnes for fiscal year 2010, a decrease of approximately 2.8%. Despite an increase
in the number of our bromine production plants in recent years, sales volume of bromine decreased. The decrease in the sales volume
of bromine was attributable to less bromine being extracted from brine water during the production process due to a trend of a
decrease in bromine concentration of brine water being extracted. In addition, during 2010, the local government also restricted
the supply of electricity to our factories and there was an increase in the number of environmental inspections of our factories
made by the local government. The table below shows the changes in the average selling price of bromine and changes in the sales
volume of bromine for fiscal year 2010 from 2009.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Fiscal Year</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Increase / (Decrease) in net revenue of bromine as a result of:</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2010 vs. 2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 82%">Increase in average selling price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">37,838,063</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Decrease in sales volume</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,306,139</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total effect on net revenue of bromine</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">35,531,924</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Crude salt segment</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The increase in net revenue from our crude
salt segment was mainly due to the increase in both the average selling price and sales volume of crude salt. The sales volume
of crude salt slightly increased by 3.8%, from 356,839 tonnes for fiscal year 2009 to 370,437 tonnes for fiscal year 2010, and
the average selling price of crude salt increased from approximately $29.9 per ton to above $40.4 per ton, an increase of approximately
35%. The increase in average selling price was a result of increased demand for crude salt for downstream production of chlorine
alkali and use in chemical, food and beverage industries. Before 2010, our sales volume was restricted by our limited production
capacity. We acquired 3 factories (Factories no. 7, 8 &amp; 9) between mid-2009 and mid-2010, which increased our productivity,
and increased the volume of crude salt we sold.</P>

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

<!-- Field: Page; Sequence: 48; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below showed the changes in the
average selling price of crude salt and changes in the sales volume of crude salt for fiscal year 2010 from 2009.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Fiscal Year</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Increase / (Decrease) in net revenue of crude salt as a result of:</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2010 vs. 2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 82%">Increase in average selling price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">3,843,363</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Increase in sales volume</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">477,713</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total effect on net revenue of crude salt</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,321,076</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Chemical products segment</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Product Mix of Chemical Product Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">2010 vs. 2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Percent Change</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">of Net Revenue</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Chemical Products</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%; text-align: left">Oil and gas exploration additives</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">32,110,313</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">73</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">28,081,921</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">78</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">14</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Paper manufacturing additives</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,738,893</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,986,595</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Pesticides manufacturing additives</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,302,231</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">14</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,877,806</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">119</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total sales</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">44,151,437</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">35,946,322</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenues from our chemical products segment
increased from $35,946,322 for fiscal year 2009 to $44,151,437 for the same period in 2010, an increase of approximately 23%. The
increase was mainly due to the strong demand for environmentally friendly oil and gas exploration chemicals and agricultural intermediaries.
Our oil and gas exploration chemicals are the most popular products within the chemical products segment, which contributed $32,110,313
(or 73%) and $28,081,921 (or 78%) of our chemical segment revenue for fiscal year 2010 and 2009, respectively, with an increase
of $4,028,392, or 14%. As result of the recent macro-economic tightening policy imposed by the PRC government in second half of
2010 to slow down the economy, our overall demand for chemical additives was reduced, which slowed down our increase of revenue
in oil and gas exploration additives and paper manufacturing additives for the whole year in 2010. However, revenue from our agricultural
intermediates increased from $2,877,806 for fiscal year 2009 to $6,302,231 for the same period in 2010, an increase of $3,424,424,
or approximately 119%. The PRC government continues to support expansion of agricultural related products, which supported the
growth in sales of pesticides manufacturing additives in 2010. The table below showed the changes in the average selling price
of major chemical products and changes in the sales volume of crude salt for fiscal year 2010 from 2009.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">Increase / (Decrease) in net revenue of chemical products, for<BR>
 fiscal year 2009 vs. 2010, as a result of:</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Oil and Gas<BR>
 Exploration<BR>
 Additives</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Paper<BR>
 Manufacturing<BR>
 Additives</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Pesticides<BR>
 Agricultural<BR>
 Additives</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Total Chemical<BR>
 Products</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 52%; text-align: left">Increase (Decrease) in average selling price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2,727,800</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">(238,474</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">252,201</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2,741,527</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Increase in sales volume</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,300,592</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">990,772</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,172,224</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,463,588</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total effect on net revenue of chemical products</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,028,392</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">752,298</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,424,425</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,205,115</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Although net revenue in all segments grew,
the growth of sales of bromine and crude salt was much higher than that of our chemical products operations mainly due to the outweighed
increase in average selling price of bromine and crude salt.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Cost of Net Revenue</I></B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Cost of Net Revenue by Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">% Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">of Cost of</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Net Revenue</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%">Bromine</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">48,530,822</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">61</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">36,919,663</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">59</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">31</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,295,841</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,044,646</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Chemical Products</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">28,428,096</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">35</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">22,733,562</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">36</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total Cost of Net Revenue</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">80,254,759</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">62,697,871</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<!-- Field: Page; Sequence: 49; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of net revenue reflects mainly the
raw materials consumed and the direct salaries and benefits of staff engaged in the production process, electricity, depreciation
and amortization of manufacturing plant and machinery and other manufacturing costs. Our cost of net revenue&nbsp;was $80,254,759
in fiscal year 2010, an increase of approximately $17.6 million (or approximately 28%) from the cost of net revenue in fiscal year
2009.&nbsp;&nbsp;This increase resulted primarily from the increase in purchase price in raw materials, depreciation and amortization
of manufacturing plant and machinery and mineral resources compensation fees paid for extraction of brine water in bromine segment.
The rate of increase for cost of net revenue was lower than that of net revenue because (i) the rate of inflation relating to cost
of net revenue was lower than the percentage increase in selling price of our products and (ii) the leverage of bulk purchases
of raw materials which partially lowered the percentage of increase in price of raw materials.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Bromine production capacity and utilization
of our factories</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below represents the annual capacity
and utilization ratios for our bromine producing properties:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center"></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Annual Production <BR> Capacity</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Utilization Ratio</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; padding-left: 10pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">(in tonnes)&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%; text-align: left">Fiscal Year 2009</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">43,300</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">87</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Fiscal Year 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,300</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Variance of Fiscal Year 2009 vs. 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8</TD><TD STYLE="text-align: left">)%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Utilization ratio is calculated based on
the annualized actual production volume in tonnes for the year divided by the annual production capacity in tonnes.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Despite the fact that we acquired Factory
No. 9 in 2010 which increased our annual bromine production capacity by 3,000 tones, our utilization decreased by 8% in 2010. The
decrease in utilization and hence the sales volume of bromine was mainly attributable to less bromine being extracted from brine
water during the production process due to a trend of decrease in bromine concentration of brine water being extracted. In addition,
during 2010, the local government also restricted the supply of electricity to our factories and there was an increase in the number
of environmental inspections of our factories made by the local government.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
the fiscal year 2010, the cost of net revenue for the bromine segment was $48,530,822, representing an increase of $11,611,159
or 31% over the same period in 2009. The most significant components of our cost of net revenue for the bromine segment were cost
of raw materials and finished goods consumed of $31,707,281 (or 65%), depreciation and amortization of manufacturing plant and
machinery of $7,330,200 (or 15%) and electricity of $4,881,580 (or 10%) for the fiscal year 2010. For the fiscal year 2009, the
major components of the cost of net revenue were cost of raw materials and finished goods consumed of $25,412,625 (or 69%), depreciation
and amortization of manufacturing plant and machinery of $5,104,703 (or 14%) and electricity of $3,617,262 (or 10%), a similar
cost structure as compared with the same in 2010.</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">The increase in
cost of net revenue was attributable to the increase in raw material prices. The table below represents the major production cost
component of bromine per ton for respective periods:</FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">% Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 25%; text-align: left">Raw materials</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">950</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">65</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">728</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">69</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">30</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">220</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">146</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Electricity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">146</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Others</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">138</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">79</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Production cost of bromine per ton</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,454</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,057</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our production cost of bromine per ton
was $1,454 for the fiscal year 2010, an increase of 38% (or $397) over the same period in 2009, which attributable mainly to the
components of raw materials and depreciation and amortization of manufacturing plant and machinery. The cost of raw materials consumed
per ton increased by 30% as compared to last comparison period mainly due to increase in the purchase price of raw materials. The
rate of increase for cost of net revenue was lower than that of net revenue because (i) the supply of raw materials is relatively
stable and the rate of increase in the price of raw materials was lower compared with the rate of increase in the selling price
of bromine and (ii) bulk purchases of raw materials partially lowered the percentage of increase in the price of raw materials.
The increase in electricity consumed and depreciation and amortization reflected our expansion of the number of production plants
of bromine through acquisitions in 2009 and 2010.</P>

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

<!-- Field: Page; Sequence: 50; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Crude salt segment</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The cost of net revenue for the crude salt
segment for the fiscal year 2010 was $3,295,841, an increase of $251,195 (or 8%) compared to $3,044,646 for the same period in
2009. The increase was mainly attributable to an increase in the number of our crude salt fields for evaporation of crude salt,
which increased the corresponding variable costs, such as resource taxes paid and depreciation and amortization of manufacturing
plant and machinery. The significant cost components for the fiscal year 2010 were depreciation and amortization of $1,030,264
(or 31%), resource tax calculated based on the crude salt sold of $947,576 (or 29%) and electricity of $741,451 (or 23%). The significant
cost components for the fiscal year 2009 were depreciation and amortization of $853,781 (or 28%), resource tax calculated based
on the crude salt sold of $1,295,051 (42%) and electricity of $605,000 (20%). The table below represents the major production cost
component of crude salt per ton for respective periods:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">% Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%; text-align: left">Depreciation and amortization</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2.8</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">31</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2.4</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">28</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">17</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Resource tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(28</TD><TD STYLE="text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Electricity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Others</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1.5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.8</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">87</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Production cost of crude salt per ton</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8.9</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8.5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our production cost of crude salt per ton
was $8.9 for the fiscal year 2010, an increase of 5% (or $0.4) as compared to the same period in 2009, which attributable mainly
to the components of depreciation and amortization of manufacturing plant and machinery and electricity. The increase in electricity
consumed and depreciation and amortization reflected our expansion of the number of crude salt fields through acquisitions in 2009
and 2010. Other production costs represented mainly salaries and welfare of labor worked in the crude salt fields.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Chemical products segment</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of net revenue for the fiscal year
2010, was $28,428,096, representing an increase of $5,694,534 or 25% over the same period in 2009. The significant costs were cost
of raw materials and finished goods consumed of $25,458,672 (or 90%) and $20,690,656 (91%) and depreciation and amortization of
manufacturing plant and machinery of $1,673,358 (or 6%) and $1,118,478 (or 5%) for each of the fiscal years 2010 and 2009, respectively.
Our raw materials consumed mainly composed of chemical elements, including bromine, and their costs were increased over this year
due to the strong in demand. The rate of increase for the cost of net revenue for chemical products segment was similar to that
of net revenue.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Gross Profit </I></B>Gross profit
was $78,080,264, or 49%, of net revenue for fiscal year 2010 compared to $47,579,037, or 43%, of net revenue for fiscal year 2009.
The increase in gross profit percentage was primarily attributable to a rise of margin percentage in our bromine and crude salt</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Gross Profit by Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">% Point</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Year Ended</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Change of</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Gross Profit</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid">Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of Net<BR>
 Revenue</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of Net<BR>
 Revenue</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 40%">Bromine</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">50,680,990</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">51</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">26,760,225</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">42</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">9</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11,675,933</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">78</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,606,052</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Chemical Products</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">15,723,341</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,212,760</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">37</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total Gross Profit</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">78,080,264</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">49</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">47,579,037</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">43</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the fiscal year 2010, the gross profit
margin for our bromine segment was 51% compared to 42% for fiscal year 2009. The increase in gross profit margin is mainly attributable
to the increase in average selling price, which is partially offset by an increase in cost of raw materials and a decrease in the
bromine concentration of brine water being extracted. For the fiscal year 2010, the average selling price of bromine increased
from $1,854 per ton to $2,972 per ton compared to the fiscal year 2009, an increase of 60%. As mentioned before, due to a decrease
in the bromine concentration of brine water being extracted limited our production capacity for 2010. We expect the trend will
continue in 2011.</P>

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

<!-- Field: Page; Sequence: 51; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Crude salt segment</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the fiscal year 2010, the gross profit
margin for our crude salt segment was 78% compared to 71% for the same period in 2009. For the fiscal year 2010, the average selling
price of crude salt increased to $40.4 per ton, as compared from $29.9 per ton in the fiscal year 2009, an increase of 35%. As
mentioned hereinbefore, the increase in average selling price was a result of increased demand of crude salt and the increase in
the gross profit margin of crude salt was mainly due to the acquisition of a crude salt field in 2010 and three factories between
mid-2009 and mid-2010 (Factories no. 7 to 9) which increased our productivity of crude salt and economies of scale.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Chemical products segment</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The gross profit margin for chemical products
segment remained stable for the fiscal year 2010 as compared to the fiscal year 2009. As our factory is capable of producing diversified
chemical products, the selling price fluctuation of individual chemical products is not expected to have an impact on our gross
profit margin for overall chemical products.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Research and Development Costs</I></B>
Research and development costs result from the agreement that SYCI and East China University of Science and Technology entered
in June 2007 to establish a Co-Op Research and Development Center to develop new bromine-based chemical compounds and products
to be utilized in the pharmaceutical industry. All research findings and patents developed by this center will belong to Gulf Resources.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since the second quarter of 2010, SYCI
conducted research for the new production line of wastewater treatment additives, the purpose of which is for the testing the manufacturing
routine and samples. The research and development expense incurred for the aforesaid new production line from outside parties and
the use of SCHC&rsquo;s products during the fiscal year 2010 were $847,919 and $848,990, respectively. The total research and development
costs incurred for the year ended December 31, 2010 and 2009 was $2,200,291 and $500,406, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>General
and Administrative Expenses&nbsp;</I></B> General and administrative expenses were $6,871,091 in fiscal year 2010, an increase
of $1,526,258, or approximately 29%, from the general and administrative expenses of $5,344,833 during fiscal year 2009.&nbsp;This
increase in general and administrative expenses was primarily due to (i) the loss on disposal of property, plant and equipment
of approximately $1.3 million for the fiscal year 2010, as compared to approximately $0.5 million for fiscal year 2009; and (ii)
the increase in salary and welfare payments, depreciation, and land duty and franchise tax by approximately $1.2 million. During
the year ended December 31, 2010, we incurred a loss on disposal of property, plant and equipment of approximately $1.3 million
(fiscal year 2009 $0.5 million) as the equipment being disposed of was specialized equipment used in the bromine and chemical production
industry which has few suppliers and an inactive second-hand market, which resulted in low second-hand price. In order to take
advantage of the increasing demand for environmentally friendly chemical products produced from bromine, we intend to focus our
future chemical production on environmentally friendly products, and therefore, have disposed of certain machinery and equipment
that has been used for other products.&nbsp;&nbsp;Also, in order to enhance our bromine production process, we disposed of certain
outdated auxiliary machinery.</FONT> <FONT STYLE="font-size: 10pt">Such increment was partly offset by the decrease in non-cash
expenses related to stock options granted to our employees and a warrant granted to our investor relations firm by approximately
$740,000.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Other Operating Income</I></B> Other
operating income was $223,715 for the fiscal year 2010, which represented the income from sales of wastewater to some of our customers
since March 2010. Wastewater is generated from the production of bromine which eventually becomes crude salt when it evaporates.
Not all of our bromine production plants have sufficient area on the property to allow for evaporation of wastewater to produce
crude salt. Certain of our customers who have facilities located adjacent to our bromine production plants have agreed to channel
our wastewater into brine pans on their properties for evaporation. These customers then are able to sell the resulting crude salt
themselves. We have signed agreements with three of our customers to sell them our wastewater at market prices.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Income from Operations </I></B>Income
from operations was $69,096,233 in fiscal year 2010 (or 43.6% of net revenue), an increase of $27,384,147 (or approximately 65.7%)
over income from operations in fiscal year 2009. This increase resulted primarily from the increase in net revenue and relatively
lower increase in cost of net revenue as explained hereinbefore.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Income from Operations by Segment</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Year Ended December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Year Ended December 31, 2009</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Segment:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 52%; text-align: justify">Bromine</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">48,474,611</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">69</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">25,098,035</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">56</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Crude Salt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11,360,476</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,328,045</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Chemical Products</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,218,613</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">15</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,530,417</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">28</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Income from operations before corporate costs</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">72,053,700</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">44,956,497</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Corporate costs</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,957,467</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,244,411</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Income from operations</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">69,096,233</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">41,712,086</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<!-- Field: Page; Sequence: 52; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Income from operations of bromine segment
was $48,474,611 for the fiscal year 2010 (or 69% of the segment&rsquo;s income from operations), an increase of $23,376,576 (or
approximately 93%) compared with the fiscal year 2009. This increase resulted primarily from the increase in average selling price
of bromine (contributed approximately $37.8 million), which was partially offset by (i) the increase in costs of net revenue, mainly
raw material costs, of approximately $11.6 million and (ii) the decrease in sales volume of approximately $2.3 million due to the
decreased concentration of brine water extracted.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Crude salt segment</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Income from operations of crude salt segment
was $11,360,476 for the fiscal year 2010 (or 16% of the segment&rsquo;s income from operations), an increase of $4,032,431 (or
approximately 55%) compared with the fiscal year 2009. The increase in the income from operations of crude salt was mainly due
to (i) the increase in the selling price of crude salt, which contributed an increase of $3.8 million, and (ii) the increase in
sales volume, which contributed an increase of another $0.5 million.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In fiscal year 2010, income from operations
in the chemical products segment was $12,218,613, a slight decrease of 2.5% from $12,530,417 in fiscal year 2009. The decrease
in income from operations of our chemical products was due to the extensive research and development costs incurred for the new
production line of wastewater treatment additives for fiscal year 2010 which offset increases in revenue from our environmentally
friendly oil and gas exploration chemicals and agricultural intermediaries</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Other Income, Net</I></B> Other income
was $241,936 for fiscal year 2010, an increase of $178,209 as compared to fiscal year 2009. Such increase in other income was primarily
due to the increase in interest income of approximately $162,000.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Net Income</I></B> Net income was
$51,283,320 in fiscal year 2010, an increase of $20,691,905 (or approximately 68%) as compared to fiscal year 2009. This increase
was primarily attributable to the increase in selling price of bromine and crude salt.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>LIQUIDITY AND CAPITAL RESOURCES</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2011, cash and cash
equivalents were $78,576,060 as compared to $68,494,480 as of December 31, 2010.&nbsp;&nbsp;The components of this increase of
$10,081,580 are reflected below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Statement of Cash Flows</B></P>



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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 98%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">Years Ended December 31</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2011</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2010</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2009</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 64%; text-align: left">Net cash provided by operating activities</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">59,047,429</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">57,999,451</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">39,820,378</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net cash used in investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(51,973,728</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(39,084,512</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(38,244,301</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net cash (used in) provided by financing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(788,739</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,210,919</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13,073,463</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Effects of exchange rate changes on cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,796,618</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,831,887</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,151</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net cash&nbsp;inflow</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,081,580</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">22,957,745</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,658,691</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the fiscal years 2011, 2010 and 2009,
we met our working capital and capital investment requirements mainly by using cash flows from operations and cash on hand. The
Company intends to continue to explore opportunities relating to bromine asset purchases and new bromine resource development.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Net Cash Provided by Operating Activities</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the years ended December 31, 2011,
2010 and 2009, we had positive cash flow from operating activities of $59.0 million, $58.0 million and $39.8 million respectively,
primarily attributable to net income.</P>

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

<!-- Field: Page; Sequence: 53; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2011,
cash flow from operating activities of $59.0 million exceeded our net income of $31.0 million, which is caused by (i) cash used
in working capital of $2.8 million for the fiscal year 2011, mainly consisted of inventory and tax paid; and (ii) our net income
included substantial non-cash charges of $30.9 million, mainly in form of stock-based compensation, depreciation and amortization
of property, plant and equipment and writ-off/impairment loss on property, plant and equipment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2010,
cash flow from operating activities of $58.0 million exceeded our net income of $51.3 million, which is caused by (i) cash used
in working capital of $7.0 million for the fiscal year 2011, mainly consisted of inventory and accounts receivable; and (ii) our
net income included substantial non-cash charges of $13.7 million, mainly in form of stock-based compensation, depreciation and
amortization of property, plant and equipment and loss on disposal of property, plant and equipment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2009,
cash flow from operating activities of $39.8 million exceeded our net income of $30.6 million, which is caused by (i) cash used
in working capital of $0.5 million for the fiscal year 2011, mainly consisted of inventory and accounts receivable; and (ii) our
net income included substantial non-cash charges of $9.7 million, mainly in form of stock-based compensation, depreciation and
amortization of property, plant and equipment and loss on disposal of property, plant and equipment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Accounts receivable</U></I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash collections on our accounts receivable
had a major impact on our overall liquidity. The following table presents the aging analysis of our accounts receivable as of December
31, 2011 and 2010.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 52%; text-align: justify">Aged 1-30 days</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">7,411,018</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">34</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">11,971,940</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">56</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Aged 31-60 days</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,380,766</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,570,289</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Aged 61-90 days</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,128,044</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">23</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21,919,828</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21,542,229</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The overall accounts receivable balance
as of December 31, 2011 increased by $377,599 (or 1.8%), as compared to those as of December 31, 2010. Such increase is mainly
attributable to the extended settlement days by customers due to the macro-economic tightening policy imposed by PRC government
to slow down the economy, which in turn lengthened the turnover days of accounts receivable from customers from 42 days for the
fiscal year 2010 to 48 days for the fiscal year 2011. Normally, a 90-days credit period is granted to customers with a good repayment
history. We are not aware of any allowances for doubtful debts required for the fiscal year 2011 as we have policies in place to
ensure that sales are made to customers with an appropriate credit history. We perform ongoing credit evaluation on the financial
condition of our customers.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our inventory consists of the following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December 31, 2010</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Percent of total</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 52%; text-align: justify">Raw materials</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">848,596</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">19.1</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">769,817</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">28.7</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Finished goods</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,604,247</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">81.2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,916,775</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">71.5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,452,843</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100.3</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,686,592</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100.2</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Allowance for obsolete and slowing-moving inventory</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(14,871</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0.3</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(6,693</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0.2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,437,972</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,679,899</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The gross inventory level as of December
31, 2011 increased by $1,766,251 (or 65.7%), as compared to the gross inventory level as of December 31, 2010.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Raw materials slightly increased by 10%
as of December 31, 2011 as compared to December 31, 2010. All of the raw materials are basic chemical industry materials, few of
which have a possibility of loss over time, or major fluctuations in their prices. So, we concluded that all of our raw materials
as of December 31, 2011 are fully realizable for production of finished goods without any impairment.</P>

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

<!-- Field: Page; Sequence: 54; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

<P STYLE="margin: 0; text-align: right"></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our finished goods are mainly composed
of bromine, crude salt and chemical products. Our chemical products are similar to raw materials, as there is no loss over time
and a stable market price with a positive gross profit margin of 31% for the fiscal year 2011. Therefore, we believe that the realization
of the chemical products is 100%. Similarly, as there is no depletion of bromine, we believe that the realization of it is also
100%. Although the gross profit margin for the fiscal year 2011 decreased to 48%, as compared with 51% in fiscal year 2010, we
anticipated that the price in the next six months will not fluctuate significantly to impair the cost of bromine.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The annual loss of crude salt due to evaporation
is around 3%. As the market price of crude salt is stable and the gross margin is high (70% for the fiscal year 2011), we believe
that there will be no realizability problem for crude salt and its selling price should not be lower than its cost.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Net Cash Used In Investing Activities</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Higher capital investments partially offset
by compensation received from the PRC government for demolition of factory in 2011 drove the increase in cash used in investing
activities compared to 2010. Higher capital investments and lower proceeds from asset sales in 2010 drove the increase in cash
used in investing activities compared to 2009. The table below detailed the cash capital investments for the fiscal years 2011,
2010 and 2009:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">Years&nbsp;Ended&nbsp;December&nbsp;31</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>(In&nbsp;Million)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2011</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2010</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">2009</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; text-align: left; text-indent: -9.35pt; padding-left: 9.35pt">Construction of new production lines, acquisition of factories, mineral rights and other assets</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">17.3</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">32.4</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">32.8</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -9.35pt; padding-left: 9.35pt">Improvement and upgrade of bromine wells, &nbsp;&nbsp;transmission pipelines and aqueducts, and conversion &nbsp;&nbsp;of SYCI&rsquo;s production line</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">35.7</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7.1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6.1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total cash capital investments</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">53.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">39.5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">38.9</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the fiscal year 2011, we carried out
improvement and upgrade of bromine wells, transmission pipelines and aqueducts, and conversion of SYCI&rsquo;s production line,
in particular, we used (i) approximately $3 million cash to reconstruct and renovate a subdivision of Factory No. 1 which included
bromine production facilities and brine water channels acquired under a capital lease; (ii) approximately $32.5 million cash to
carry out enhancement projects to our existing bromine extraction and crude salt production facilities; and (iii) approximately
$0.2 million cash for the conversion of a chemical production line from wastewater treatment chemical production line to bromopropane.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also used (i) approximately $6.2 million
cash for the construction of our new Factory No. 4 due to the taking of leased land by the PRC local government for redevelopment;
(ii) approximately $10 million cash for acquisition of Factory No. 10; and (iii) approximately $1.1 million for other new plant
and machinery.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These projects were financed by opening
cash balances as of December 31, 2010 and cash generated from operations during fiscal year 2011.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Net Cash (Used In) Provided by Financing
Activities</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the fiscal year 2011, we repaid approximately
$0.3 million cash for our capital lease obligation and used another $0.5 million to repurchase 184,599 shares of common stock of
the Company under the approval of the Board of Directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the fiscal year 2010, we obtained cash
of approximately $2.2 million from a private placement for settlement of assets acquisition.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the fiscal year 2009, we raised cash
of approximately $21.3 million from private placements for settlement of note and loan payable, and repayment to related parties.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe that our available funds and
cash flows generated from operations will be sufficient to meet our anticipated ongoing operating needs for the next twelve (12)
months. However we will likely need to raise additional capital in order to fund the ongoing program of acquiring unlicensed bromine
properties, increasing our chemical production capacity and developing new bromine and crude salt production line in Sichuan Province,
PRC. We expect to raise those funds through credit facilities obtained with lending institutions. There can be no guarantee that
we will be able to obtain such funding, whether through the issuance of debt or equity, on terms satisfactory to management and
our board of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Working capital was approximately $93.3
million at December 31, 2011 as compared to approximately $79.8 million at December 31, 2010. The increase was mainly attributable
to the cash provided by operating activities during fiscal year 2011.</P>

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

<!-- Field: Page; Sequence: 55; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We had available cash of approximately
$78.6 million at December 31, 2011, most of which are in highly liquid current deposits with no or little interest rate. We intend
to retain the cash for future expansion of our bromine and crude salt businesses through acquisition, enhancement works to our
existing bromine and crude salt business, and exploration cost of new brine water resources in Sichuan Province, and we do not
anticipate paying cash dividends in the foreseeable future.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the future we intend to focus our efforts
on the activities of SCHC and SYCI as these segments continue to expand within the Chinese market. We also intend to explore the
possibility of cooperation with overseas large-scale bromine manufacturers for expansion into overseas markets. As a result, we
may issue additional shares of our capital stock and incur new debt in order to raise cash for acquisitions and other capital expenditures
during the next twelve months.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may not be able to identify, successfully
integrate or profitably manage any businesses or business segment we may acquire, or any expansion of our business. An expansion
may involve a number of risks, including possible adverse effects on our operating results, diversion of management attention,
inability to retain key personnel, risks associated with unanticipated events and the financial statement effect of potential impairment
of acquired intangible assets, any of which could have a materially adverse effect on our condition and results&nbsp;of operations.
In addition, if competition for acquisition candidates or operations were to increase, the cost of acquiring businesses could increase
materially. We may effect an acquisition with a target business which may be financially unstable, under-managed, or in its early
stages of development or growth. In addition, if competition for acquisition candidates or operations were to increase, the cost
of acquiring businesses could increase materially. Our inability to implement and manage our expansion strategy successfully may
have a material adverse effect on our business and future prospects.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Contractual Obligations and Commitments</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As described in the notes to the Consolidated
Financial Statements and as referenced in the tables below, we have contractual obligations and commercial commitments that may
affect our financial condition. Based on our assessment of the underlying provisions and circumstances of our contractual obligations
and commercial commitments, including material sources of off-balance sheet and structured finance arrangements, other than the
risks that we and other similarly situated companies face with respect to the condition of the capital markets (as described in
Item 1A of Part I of this report), there is no known trend, demand, commitment, event, or uncertainty that is reasonably likely
to occur that would have a material adverse effect on our consolidated results of operations, financial condition, or liquidity.
In addition, our commercial obligations, financings, and commitments are customary transactions that are similar to those of other
comparable corporations. The following table sets forth payments due by period for fixed contractual obligations as of December
31, 2011.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Capital&nbsp;Lease<BR>Obligations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Operating&nbsp;Lease<BR>Obligations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Total&nbsp;Contractual<BR>Obligations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Payments&nbsp;Due&nbsp;by&nbsp;December&nbsp;31,</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: justify; text-indent: 0; padding-left: 0.12in">2012</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">297,899</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">590,037</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">887,936</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; text-indent: 0; padding-left: 0.12in">2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">297,898</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">640,837</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">938,735</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: 0; padding-left: 0.12in">2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">297,899</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">645,177</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">943,076</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; text-indent: 0; padding-left: 0.12in">2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">297,898</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">649,681</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">947,579</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: 0; padding-left: 0.12in">2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">297,899</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">654,316</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">952,215</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; text-indent: 0; padding-left: 0.12in">After 2016</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,170,582</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18,009,119</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">22,179,701</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5,660,075</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21,189,167</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">26,849,242</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We do not currently have any off-balance
sheet arrangements falling within the definition of Item 303(a) of Regulation S-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Critical Accounting Policies and Estimates</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Consolidated Financial Statements are
prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP), which requires
us to make judgments, estimates and assumptions. See &ldquo;Note 1 &ndash; Nature of Business and Summary of Significant Accounting
Policies,&rdquo; in Notes to the Consolidated Financial Statements, which is included in &ldquo;Item 8. Financial Statements and
Supplementary Data,&rdquo; which describes our significant accounting policies and methods used in the preparation of our Consolidated
Financial Statements. The methods, estimates and judgments that we use in applying our accounting policies require us to make difficult
and subjective judgments, often as a result of the need to make estimates regarding matters that are inherently uncertain.</P>

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

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

<!-- Field: Page; Sequence: 56; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our most critical estimates include:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify">allowance for doubtful accounts, which impacts revenue;</TD></TR>                                                                                                                                                                <TR STYLE="vertical-align: top">
<TD></TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"><BR>
</TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify">the valuation of inventory, which impacts gross margins;</TD></TR>                                                                                                                                            <TR STYLE="vertical-align: top">
<TD></TD><TD></TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify">impairment of long-lived assets;</TD></TR>                                                                                                                                         <TR STYLE="vertical-align: top">
<TD></TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify">the valuation and recognition of share-based compensation, which impacts gross margin and operating
expenses; and</TD></TR>                       <TR STYLE="vertical-align: top">
<TD></TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&bull;</TD><TD STYLE="text-align: justify">the recognition and measurement of current and deferred income taxes (including the measurement
of uncertain tax positions), which impact our provision for taxes.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Allowance for Doubtful Accounts</U></I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We makes estimates of the uncollectibility
of accounts receivable, especially analyzing accounts receivable and historical bad debts, customer concentrations, customer credit-worthiness,
current economic trends and changes in customer payment terms, when evaluating the adequacy of the allowance for doubtful accounts.
Credit evaluations are undertaken for all major sale transactions before shipment is authorized. On a quarterly basis, we evaluate
aged items in the accounts receivable aging report and provide an allowance in an amount we deem adequate for doubtful accounts.
If management were to make different judgments or utilize different estimates, material differences in the amount of our reported
operating expenses could result.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Inventory Valuation</U></I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Inventory
is stated at the lower of cost or market, with cost determined on a first-in first-out basis. The carrying value of inventory is
reduced for estimated obsolescence by the difference between</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">its
cost and the estimated market value based upon assumptions about future demand. We evaluate the inventory carrying value for potential
excess and obsolete inventory exposures by analyzing historical and anticipated demand. If actual future demand or market conditions
are less favorable than those projected by management, additional inventory write-downs may be required in the future, which could
have a material adverse effect on our results of operations.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Depreciation of Property, Plant and
Equipment</U></I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">Property,
plant and equipment are stated at cost less accumulated depreciation and any impairment losses. Expenditures for new facilities
or equipment, and major expenditures for betterment of existing facilities or equipment are capitalized and depreciated using the
straight-line method at rates sufficient to depreciate such costs over the estimated productive lives. All other ordinary repair
and maintenance costs are expensed as incurred.</FONT> <FONT STYLE="font-size: 10pt">Mineral rights are recorded at cost less accumulated
depreciation and any impairment losses. Mineral rights are amortized ratably over the term of the lease, or the equivalent term
under the units of production method, whichever is shorter.</FONT> <FONT STYLE="font-size: 10pt">In some situations, the life of
the asset may be extended or shortened if circumstances arise that would lead us to believe that the estimated life of the asset
has changed. The life of leasehold improvements may change based on the extension of lease contracts with our landlords. Changes
in the estimated lives of assets will result in an increase or decrease in the amount of depreciation recognized in future periods.
</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Impairment of Long Lived Assets</U></I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We periodically evaluate whether events
or circumstances have occurred that indicate long-lived assets may not be recoverable or that the remaining useful life may warrant
revision. When such events or circumstances are present, we assess the recoverability of long-lived assets by determining whether
the carrying value will be recovered through the expected undiscounted future cash flows resulting from the use of the asset. In
the event the sum of the expected undiscounted future cash flows is less than the carrying value of the asset, an impairment loss
equal to the excess of the asset&rsquo;s carrying value over its fair value is recorded.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Valuation Allowance on Deferred Tax
Assets</U></I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We evaluate our deferred income tax assets
to determine if valuation allowances are required or should be adjusted. A valuation allowance is established against our deferred
tax assets based on consideration of all available evidence, both positive and negative, using a &ldquo;more likely than not&rdquo;
standard. This assessment considers, among other matters, the nature, frequency and severity of recent losses, forecasts of future
profitability, the duration of statutory carry forward periods, our experience with tax attributes expiring unused and tax planning
alternatives. In making such judgments, significant weight is given to evidence that can be objectively verified.&nbsp;</P>

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

<!-- Field: Page; Sequence: 57; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Stock-based compensation</U></I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We account for stock-based compensation
in accordance with the fair value recognition provisions of U.S. GAAP. We use the Black-Scholes model which requires the input
of highly subjective assumptions. These assumptions include estimating the length of time employees will retain their vested stock
options before exercising them, the estimated volatility of our common stock price over the expected term and the number of options
that will ultimately not complete their vesting requirements. The assumptions for expected volatility and expected term are the
two assumptions that significantly affect the grant date fair value. Changes in expected risk-free rate of return do not significantly
impact the calculation of fair value, and determining this input is not highly subjective.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We use annualized historical stock price
volatility which is deemed to be appropriate to serve as the expected volatility of our stock price and is assumed to be constant
and prevailing. The expected term represents the weighted-average period that our stock options are expected to be outstanding.
The expected term is based on the observed and expected time to post-vesting exercise of options by employees. We use historical
exercise patterns of previously granted options in relation to stock price movements to derive an employee behavioral pattern used
to forecast expected exercise patterns.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">U.S. GAAP requires us to develop an estimate
of the number of share-based awards that will be forfeited due to employee turnover. Adjustments in the estimated forfeiture rates
can have a significant effect on our reported share-based compensation, as we recognize the cumulative effect of the rate adjustments
for all expense amortization in the period the estimated forfeiture rates were adjusted. We estimate and adjust forfeiture rates
based on a periodic review of recent forfeiture activity and expected future employee turnover. If a revised forfeiture rate is
higher than previously estimated forfeiture rate, we may make an adjustment that will result in a decrease to the expense recognized
in the financial statements during the period when the rate was changed. Adjustments in the estimated forfeiture rates could also
cause changes in the amount of expense that we recognize in future periods.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">See &ldquo;Note 1 &ndash; Nature of Business
and Summary of Significant Accounting Policies&rdquo; of the Notes to Consolidated Financial Statements in Item 8. Financial Statements
and Supplementary Data for a full description of recent accounting pronouncements including the respective expected dates of adoption
and effects on Consolidated Balance Sheets and Consolidated Statements of Income.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 7A. Quantitative and Qualitative
Disclosures About Market Risk.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is exposed to credit risk from
its cash at bank and fixed deposits and accounts receivable. The credit risk on cash at bank and fixed deposits is limited because
the counterparties are recognized financial institutions. Accounts receivable are subjected to credit evaluations. An allowance
has been made for estimated irrecoverable amounts which have been determined by reference to past default experience and the current
economic environment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Foreign Exchange Risk</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The value of the RMB against the U.S. dollar
and other currencies is affected by, among other things, changes in China&rsquo;s political and economic conditions. Since July
2005, the RMB has no longer been pegged to the U.S. Dollar at a constant exchange rate. Although the People&rsquo;s Bank of China
regularly intervenes in the foreign exchange market to prevent significant short-term fluctuations in the exchange rate, the RMB
may appreciate or depreciate within a flexible peg range against the U.S. dollar in the medium to long term. Moreover, it is possible
that in the future, PRC authorities may lift restrictions on fluctuations in the RMB exchange rate and lessen intervention in the
foreign exchange market.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because substantially all of our earnings
and cash assets are denominated in RMB, but our reporting currency is the U.S. dollar, fluctuations in the exchange rate between
the U.S. dollar and the RMB will affect our balance sheet and our earnings per share in U.S. dollars. In addition, appreciation
or depreciation in the value of the RMB relative to the U.S. dollar would affect our financial results reported in U.S. dollar
terms without giving effect to any underlying change in our business or results of operations. Fluctuations in the exchange rate
will also affect the relative value of any dividend we issue in the future that will be exchanged into U.S. dollars and earnings
from, and the value of, any U.S. dollar-denominated investments we make in the future.</P>

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

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

<!-- Field: Page; Sequence: 58; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Very limited hedging transactions are available
in China to reduce our exposure to exchange rate fluctuations. To date, we have not entered into any hedging transactions in an
effort to reduce our exposure to foreign currency exchange risk. While we may enter into hedging transactions in the future, the
availability and effectiveness of these transactions may be limited, and we may not be able to successfully hedge our exposure
at all. In addition, our foreign currency exchange losses may be magnified by PRC exchange control regulations that restrict our
ability to convert RMB into foreign currencies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Most of the transactions of the Company
are settled in RMB and U.S. dollars. In the opinion of the directors, the Company is not exposed to significant foreign currency
risk.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Impact of Inflation</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inflationary factors, such as increases
in the cost of our product and overhead costs, may adversely affect our operating results. Based on the Consumer Price Index in
the PRC, the average annual rate of inflation over the three-year period from 2008 to 2010 was 2.8%. Inflationary pressures increased
in 2011, reflecting the rise in our cost of raw materials and electricity expenses. As of January 31, 2012, the rate of inflation
was 4.6%. The Company believes that in the long run the selling prices of its products could be increased at a similar level to
compensate the adverse effect. In the foreseeable future, a high rate of inflation may have an adverse effect on our ability to
maintain current levels of gross margin and selling, general and administrative expenses as a percentage of net revenues if the
selling prices of our products do not increase with these increased costs.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Company&rsquo;s Operations are Substantially
in Foreign Countries</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Substantially all of our operations are
conducted in China and are subject to various political, economic, and other risks and uncertainties inherent in conducting business
in China. Among other risks, the Company and its subsidiaries&rsquo; operations are subject to the risks of restrictions on transfer
of funds; export duties, quotas, and embargoes; domestic and international customs and tariffs; changing taxation policies; foreign
exchange restrictions; and political conditions and governmental regulations. Additional information regarding such risks can be
found under the heading &ldquo;Risk Factors&rdquo; in this Form 10-K.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 8. Financial Statements and Supplementary
Data (in thousands).</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">March&nbsp;31</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">June&nbsp;30</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">September&nbsp;30</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Fiscal Year 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 33%; text-align: left">Operating revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">45,378</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">51,301</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">37,762</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">30,539</TD><TD STYLE="width: 3%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">164,980</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Gross Profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">24,787</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">26,306</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13,938</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,411</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">75,442</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Write-off/Impairment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,571</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,571</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Operating income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">20,264</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13,389</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8,746</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,899</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">44,298</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,365</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,023</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,584</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">980</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">30,952</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Basic earnings per share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.41</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.29</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.16</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.03</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.89</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Diluted earnings per share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.29</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.16</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.03</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.89</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: -9pt">Operating income as a percentage of&nbsp;operating revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44.7</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26.1</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23.2</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.2</TD><TD NOWRAP STYLE="text-align: left">%(1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"> 26.9</TD><TD STYLE="text-align: left">%&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">March&nbsp;31</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">June&nbsp;30</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">September&nbsp;30</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">December&nbsp;31</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Fiscal Year 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 33%; text-align: left">Operating revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">29,693</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">46,752</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">44,758</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">37,132</TD><TD STYLE="width: 3%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">158,335</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Gross Profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">13,459</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">23,281</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">21,755</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19,585</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">78,080</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Operating income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11,077</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">21,877</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">19,909</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">16,233</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">69,096</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Net income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,992</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">16,426</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14,865</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">51,283</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Basic earnings per share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.23</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.47</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.43</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.35</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.48</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Diluted earnings per share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.23</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.47</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.43</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.35</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.48</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: -9pt">Operating income as a percentage of&nbsp;operating revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37.3</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46.8</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44.5</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43.7</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">43.6</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">For the fourth quarter of fiscal years 2011, our operating income margin recognized was
                                                            6.2%,                                                             a decrease of 17.0% as compared with the third<FONT STYLE="font: 10pt Times New Roman, Times, Serif">
                                                            quarter of 2011. This                                                             decrease resulted primarily from (i) the
                                                            decrease in sales volume of bromine and crude salt by 23.4% or 1,612 tonnes (from
                                                            6,900 tonnes in third quarter of 2011) and 2.1% or 1,386 tonnes (from 66,014 tonnes in third quarter of 2011), respectively,
                                                            due to the traditional low season during the winter; (ii) the drop in gross profit margins of bromine to 35% (from 40% in
                                                            third quarter of 2011) and crude salt to 48% (from 55% in third quarter of 2011) due to the continual macro-economic
                                                            tightening policy imposed by the PRC government since the second quarter of 2011; (iii) consultancy fee of $3.15 million
                                                            paid                                                             to an unrelated PRC agent in the fourth quarter of 2011 for
                                                            searching suitable crude salt fields and bromine factories for
                                                            acquisition; and (iv) the increase in repair and maintenance expenses for our bromine factories by $1 million from the
                                                            quarter of 2011. Following our acquisition of several bromine factories in recent years, the core manufacturing machineries
                                                            were in need of repair and maintenance. Management decided it would be best to carry out such work during our traditionally
                                                            slower period in winter, which is resulted in a significant amount of the work and expense was carried out in the fourth
                                                            quarter of 2011.                                                               The
                                                            repair and                                                                                                     maintenance
                                                            costs                                                                     of
                                                            $0.1                                                                                                          million
                                                            incurred                                                             during the
                                                            nine-months ended September 30, 2011                                                                    represented
                                                            only miscellaneous routine maintenance work for                                                             day-to-day
                                                            operations and not the full repair and maintenance.</FONT></TD></TR></TABLE>

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

<!-- Field: Page; Sequence: 59; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONSOLIDATED FINANCIAL STATEMENTS</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DECEMBER 31, 2011, 2010 and 2009</P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 90%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: center; border-bottom: Black 1pt solid">PAGE</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>REPORTS OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMS</TD>
    <TD STYLE="text-align: center">F-2 &ndash; F-4</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>CONSOLIDATED BALANCE SHEETS</TD>
    <TD STYLE="text-align: center">F-5</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME</TD>
    <TD STYLE="text-align: center">F-6</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY</TD>
    <TD STYLE="text-align: center">F-7</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>CONSOLIDATED STATEMENTS OF CASH FLOWS</TD>
    <TD STYLE="text-align: center">F-8 &ndash; F-9</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</TD>
    <TD STYLE="text-align: center">F-10 &ndash; F-31</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>FINANCIAL STATEMENT SCHEDULE:</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>SCHEDULE I &ndash; PARENT ONLY FINANCIAL INFORMATION</TD>
    <TD STYLE="text-align: center">S-1 &ndash; S-2</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<!-- Field: Page; Sequence: 60; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the Board of Directors and Stockholders
of</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited the internal control over
financial reporting of Gulf Resources, Inc. and Subsidiaries (the &quot;Company&quot;) as of December 31, 2011, based on criteria
established in <I>Internal Control &ndash; Integrated Framework</I> issued by the Committee of Sponsoring Organizations of the
Treadway Commission. The Company's management is responsible for maintaining effective internal control over financial reporting
and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management's
Report on Internal Control Over Financial Reporting. Our responsibility is to express an opinion on the Company's internal control
over financial reporting based on our audit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We conducted our audit in accordance with
the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all
material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk
that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the
assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit
provides a reasonable basis for our opinion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A company's internal control over financial
reporting is a process designed by, or under the supervision of, the company's principal executive and principal financial officers,
or persons performing similar functions, and effected by the company&rsquo;s board of directors, management, and other personnel
to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for
external purposes in accordance with generally accepted accounting principles. A company&rsquo;s internal control over financial
reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately
and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions
are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles,
and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors
of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use,
or disposition of the company&rsquo;s assets that could have a material effect on the financial statements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because of the inherent limitations of
internal control over control over financial reporting, including the possibility of collusion or improper management override
of controls, material misstatements due to error or fraud may not be prevented or detected on a timely basis. Also, projections
of any evaluation of the effectiveness of the internal control over financial reporting to future periods are subject to the risk
that the controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or
procedures may deteriorate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A material weakness is a deficiency, or
a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a
material misstatement of the company&rsquo;s annual or interim financial statements will not be prevented or detected on a timely
basis. The following material weaknesses have been identified and included in management&rsquo;s assessment:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Improper accounting for translation loss on intercompany payable, denominated in a foreign currency,
due to a subsidiary.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Failure to maintain effective control over the identification of a related party and the disclosure
of related party transactions in the Company&rsquo;s consolidated financial statements.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These material weaknesses were considered
in determining the nature, timing, and extent of audit tests applied in our audit of the 2011 consolidated financial statements
and financial statement schedule, and this report does not affect our report dated March 15, 2012 on these consolidated financial
statements and financial statement schedule.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In our opinion, because of the effect of
the aforementioned material weaknesses on the achievement of the objectives of the control criteria, the Company has not maintained
effective internal control over financial reporting as of December 31, 2011, based on the criteria established in <I>Internal Control-Integrated
Framework</I> issued by the Committee of Sponsoring Organizations of the Treadway Commission.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management&rsquo;s Report on Internal Control
Over Financial Reporting contains disclosures about corrective actions taken by the entity after the date of management&rsquo;s
assessment relating to material weaknesses that existed as of December 31, 2011. The scope of our work was not sufficient to enable
us to express, and we do not express, an opinion about such corrective actions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have also audited, in accordance with
the standards of the Public Company Accounting Oversight Board (United States), the consolidated financial statements and financial
statement schedule as of and for the year ended December 31, 2011 of the Company and our report dated March 15, 2012 expressed
an unqualified opinion on those consolidated financial statements and financial statement schedule.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Morison Cogen LLP</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">March 15, 2012</P>

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

<!-- Field: Page; Sequence: 61; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the Board of Directors and Stockholders
of</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited the accompanying consolidated
balance sheet of Gulf Resources, Inc. and Subsidiaries (the &quot;Company&quot;) as of December 31, 2011, and the related consolidated
statements of income and comprehensive income, stockholders&rsquo; equity, and cash flows for the year ended December 31, 2011.
Our audit also included the financial statement schedule as of and for the year ended December 31, 2011 listed in the Index at
Item 15(a)2. These consolidated financial statements and financial statement schedule are the responsibility of the Company's management.
Our responsibility is to express an opinion on these consolidated financial statements and financial statement schedule based on
our audit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We conducted our audit in accordance with
the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In our opinion, the consolidated financial
statements referred to above present fairly, in all material respects, the consolidated financial position of the Company at December
31, 2011, and the consolidated results of their operations and their cash flows for the year ended December 31, 2011, in conformity
with accounting principles generally accepted in the United States of America. Also, in our opinion, the related financial statement
schedule as of and for the year ended December 31, 2011, when considered in relation to the basic consolidated financial statements
taken as a whole, presents fairly in all material respects the information set forth therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have also audited, in accordance with
the standards of the Public Company Accounting Oversight Board (United States), the Company&rsquo;s internal control over financial
reporting as of December 31, 2011, based on the criteria established in <I>Internal Control &ndash; Integrated Framework</I> issued
by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated March 15, 2012 expressed an adverse
opinion on the Company&rsquo;s internal control over financial reporting because of material weaknesses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Morison Cogen LLP</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">March 15, 2012</P>

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

<!-- Field: Page; Sequence: 62; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the Board of Directors and
Stockholders of</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited the accompanying consolidated
balance sheet of Gulf Resources, Inc. (the &ldquo;Company&rdquo;) as of December 31, 2010, and the related consolidated statements
of income and comprehensive income, stockholders' equity and cash flows for the years ended December 31, 2010 and 2009. These financial
statements are the responsibility of the Company&rsquo;s management. Our responsibility is to express an opinion on these consolidated
financial statements based on our audits.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We conducted our audits in accordance with
the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In our opinion, the consolidated financial
statements referred to above present fairly, in all material respects, the financial position of the Company at December 31, 2010,
and the results of its operations and its cash flows for the years ended December 31, 2010 and 2009, in conformity with accounting
principles generally accepted in the United States of America.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hong Kong, March 16, 2011</P>

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

<!-- Field: Page; Sequence: 63; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONSOLIDATED BALANCE SHEETS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Expressed in U.S. dollars)</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">As&nbsp;of&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Current Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: justify">Cash</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">78,576,060</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">68,494,480</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,919,828</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,542,229</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,437,972</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,679,899</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Prepayments and deposits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">307,600</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">939,940</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Prepaid land leases</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,582</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42,761</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Deferred tax assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">228,702</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">99,694</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Total Current Assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">105,516,744</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">93,799,003</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Non-Current Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Property, plant and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">147,200,740</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">112,178,999</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Property, plant and equipment under capital leases, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,336,920</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Prepaid land leases, net of current portion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">763,814</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">743,022</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Deferred tax assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,509,481</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total non-current assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">152,810,955</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">112,922,021</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total Assets</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">258,327,699</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">206,721,024</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Liabilities and Stockholders&rsquo; Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Current Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Accounts payable and accrued expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,373,643</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,419,735</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Retention payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">556,450</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">453,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Capital lease obligation, current portion</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">189,742</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Taxes payable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,058,550</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,163,095</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Total Current Liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,178,385</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">14,035,830</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Non-Current Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Capital lease obligation, net of current portion</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,036,558</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total Liabilities</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">15,214,943</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">14,035,830</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">&#12288;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Stockholders&rsquo; Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 19.8pt">PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -18pt; padding-left: 18pt">COMMON STOCK; $0.0005 par value; 100,000,000 shares authorized; 34,745,342 and 34,735,912 shares issued; and 34,560,743 and 34,735,912 shares outstanding as of December 31, 2011 and 2010, respectively</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,373</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,368</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Treasury stock; 184,599 shares as of December 31, 2011 at cost</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(500,000</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">74,107,979</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">66,626,584</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify">Retained earnings unappropriated</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">133,314,581</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">106,500,085</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Retained earnings appropriated</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,409,557</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,271,293</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Cumulative translation adjustment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21,763,266</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,269,864</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Total Stockholders&rsquo; Equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">243,112,756</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">192,685,194</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total Liabilities and Stockholders&rsquo; Equity</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">258,327,699</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">206,721,024</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The accompanying notes are an integral part of these consolidated
financial statements.&nbsp;</P>

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

<!-- Field: Page; Sequence: 64; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE
INCOME</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Expressed in U.S. dollars)</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">Years Ended December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">NET REVENUE</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left; padding-bottom: 1pt; text-indent: 9pt">Net revenue</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">164,980,453</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">158,335,023</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">110,276,908</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">OPERATING EXPENSES / INCOME</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: 9pt">Cost of net revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(89,538,212</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(80,254,759</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(62,697,871</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 9pt">Sales, marketing and other operating expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(86,936</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(136,364</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(21,712</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: 9pt">Research and development cost</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(398,842</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,200,291</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(500,406</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 9pt">Exploration costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,034,153</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: 9pt">Write-off / Impairment on property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(7,570,566</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 9pt">General and administrative expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(17,874,296</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,871,091</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,344,833</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: 9pt">Other operating income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,821,010</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">223,715</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">- -</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(120,681,995</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(89,238,790</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(68,564,822</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">INCOME FROM OPERATIONS</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">44,298,458</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">69,096,233</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">41,712,086</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">OTHER INCOME (EXPENSES)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: 9pt">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(212,441</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,052</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(17,078</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: 9pt">Interest income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">269,614</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">242,988</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">80,805</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">57,173</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">241,936</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">63,727</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">INCOME BEFORE TAXES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,355,631</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69,338,169</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,775,813</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">INCOME TAXES</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(13,402,871</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(18,054,849</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(11,184,398</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">NET INCOME</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,952,760</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">51,283,320</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,591,415</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">COMPREHENSIVE INCOME:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">NET INCOME</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,952,760</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,283,320</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,591,415</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">OTHER COMPREHENSIVE INCOME</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">- Foreign currency translation adjustments</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,493,402</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,110,249</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(183,595</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">COMPREHENSIVE INCOME</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">43,446,162</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">56,393,569</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,407,820</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>EARNINGS PER SHARE</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>BASIC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.89</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.48</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>DILUTED</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.89</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.48</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>WEIGHTED AVERAGE NUMBER OF SHARES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>BASIC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,660,866</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,614,667</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,698,824</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>DILUTED</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,673,615</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,675,329</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,701,697</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The accompanying notes are an integral part of these consolidated
financial statements.</P>

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

<!-- Field: Page; Sequence: 65; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONSOLIDATED STATEMENTS OF STOCKHOLDERS&rsquo;
EQUITY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">YEARS ENDED DECEMBER 31, 2011, 2010 AND
2009</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Expressed in U.S. dollars)</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Common&nbsp;stock</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Number</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Number</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Number</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Additional</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Statutory</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Cumulative</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">of&nbsp;shares</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">of&nbsp;shares</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">of&nbsp;treasury</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Treasury</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">paid-in</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">common</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">Retained</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">translation</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">issued</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">outstanding</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">stock</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Amount</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">stock</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">capital</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">reserve</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">earnings</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">adjustment</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Total</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt; width: 10%"><FONT STYLE="font-size: 8pt">BALANCE AT JANUARY 1, 2009</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">24,917,211</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">24,917,211</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">12,459</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">13,072,668</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">3,223,418</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">31,817,465</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">4,343,210</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">52,469,220</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Translation adjustment</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">133,789</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">133,789</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Common stock issued for
    settlement of stockholder&rsquo;s notes payable</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,250,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,250,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,625</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">21,284,868</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">21,287,493</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Common stock issued for
    acquiring assets</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,432,341</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,432,341</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">716</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,027,872</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,028,588</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Issuance of warrants to
    non-employees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,415,772</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,415,772</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Issuance of stock options
    to employees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">606,468</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">606,468</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Net income for year ended December 31, 2009</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">30,591,415</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">30,591,415</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Private placement</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,941,182</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,941,182</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,471</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">23,498,569</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">23,500,040</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Fractional shares upon
    reverse stock split</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">332</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">332</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Transfer to statutory
    common reserve fund</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,456,351</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(2,456,351</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Reclassification
    adjustment</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(1,188,191</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(144,240</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(317,384</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(1,649,815</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">BALANCE AT DECEMBER 31, 2009</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">34,541,066</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">34,541,066</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">17,271</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">64,718,026</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">5,679,769</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">59,808,289</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">4,159,615</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">134,382,970</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">BALANCE AT JANUARY 1, 2010</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">34,541,066</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">34,541,066</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">17,271</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">64,718,026</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,679,769</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">59,808,289</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,159,615</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">134,382,970</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">Translation adjustment</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,110,249</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5,110,249</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Common stock issued for
    exercising stock options</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">108,405</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">108,405</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">54</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">17,946</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">18,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Common stock issued for
    exercising warrants</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">15,881</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">15,881</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(8</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Common stock issued for
    acquiring assets</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">70,560</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">70,560</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">35</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">608,192</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">608,227</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Issuance of warrants to
    non-employees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">193,428</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">193,428</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Issuance of stock options
    to employees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,089,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,089,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Net income for year ended December 31, 20110</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">51,283,320</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">51,283,320</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Transfer
    to statutory common reserve fund</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">4,591,524</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(4,591,524</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">BALANCE AT DECEMBER 31, 2010</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">34,735,912</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">34,735,912</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">17,368</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">66,626,584</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">10,271,293</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">106,500,085</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">9,269,864</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">192,685,194</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">BALANCE AT JANUARY 1, 2011</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">34,735,912</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">34,735,912</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">17,368</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">66,626,584</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">10,271,293</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">106,500,085</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">9,269,864</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">192,685,194</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Translation adjustment</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">12,493,402</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">12,493,402</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Common stock repurchased</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(184,599</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">184,599</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(500,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(500,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Common stock issued for exercising stock options</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">9,430</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">9,430</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">5</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(5</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Issuance of warrants to
    non-employees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">452,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">452,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Issuance of stock options
    to employees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7,029,400</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">7,029,400</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Net income for year ended December 31, 2011</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">30,952,760</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">30,952,760</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">Transfer
    to statutory common reserve fund</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">4,138,264</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(4,138,264</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -8.8pt; padding-left: 9.9pt"><FONT STYLE="font-size: 8pt">BALANCE AT DECEMBER 31, 2011</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">34,745,342</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">34,560,743</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">184,599</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">17,373</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">(500,000</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">74,107,979</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">14,409,557</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">133,314,581</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">21,763,266</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">243,112,756</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The accompanying notes are an integral part of these consolidated
financial statements.&nbsp;</P>

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

<!-- Field: Page; Sequence: 66; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONSOLIDATED STATEMENTS OF CASH FLOWS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Expressed in U.S. dollars)</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">Years&nbsp;Ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">CASH FLOWS FROM OPERATING ACTIVITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left">Net income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">30,952,760</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">51,283,320</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">30,591,415</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: -9pt">Adjustments to reconcile net income to net cash provided by operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Interest on capital lease obligation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">210,347</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Amortization of prepaid land leases</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">424,467</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104,940</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">57,985</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,697,439</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,097,149</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,199,658</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Allowance/(Reversal of allowance) for obsolete and slow-moving inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,178</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,915</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,182</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Write-off / Impairment loss on property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,570,566</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Compensation income from local government for demolition of factory</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,340,026</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Exchange loss on inter-company balances</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,398,574</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Loss from disposal of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,289,407</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">528,749</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Deferred tax asset</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,569,647</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,272</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(82,166</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Stock-based compensation expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,481,400</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,282,428</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,022,240</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Changes in assets and liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">995,713</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,016,376</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,283,341</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,621,118</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,970,745</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(222,749</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Prepayment and deposits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">648,734</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(685,266</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,920</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Other receivables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,307</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">353</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Accounts payable and accrued expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">551,636</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">429,441</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,075,519</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Retention payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98,174</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(221,805</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">659,745</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Due to related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,190</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,190</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt; text-indent: -9pt">Taxes payable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,459,768</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,415,198</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,284,882</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash provided by operating activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">59,047,429</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">57,999,451</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">39,820,378</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">CASH FLOWS USED IN INVESTING ACTIVITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Additions of prepaid land leases</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(406,380</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(100,315</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(72,411</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Compensation received for demolition of factory</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,340,026</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Proceeds from sales of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">479,260</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">704,767</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Purchase of property, plant and equipment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(52,907,374</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(39,463,457</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(38,876,657</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash used in investing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(51,973,728</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(39,084,512</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(38,244,301</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">CASH FLOWS FROM FINANCING ACTIVITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Repayment of notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,650,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Repayment of stockholder&rsquo;s notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(50,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Repurchase of common stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(500,000</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Repayment of capital lease obligation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(288,739</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Proceeds from private placement</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,192,919</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,307,142</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Proceeds from exercising stock options</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Repayment of loan payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,031,775</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Advances (to)/from related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(852,067</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Repayment to related parties</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,649,837</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash (used in)/provided by financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(788,739</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,210,919</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,073,463</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -9.35pt; padding-left: 9.35pt">EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,796,618</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,831,887</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,151</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">NET INCREASE IN CASH AND CASH EQUIVALENTS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,081,580</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,957,745</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,658,691</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">68,494,480</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">45,536,735</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">30,878,044</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">CASH AND CASH EQUIVALENTS - END OF YEAR</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">78,576,060</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">68,494,480</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">45,536,735</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<!-- Field: Page; Sequence: 67; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Expressed in U.S. dollars)</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">Years&nbsp;Ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Cash paid during the year for:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Income taxes</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">18,794,465</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">16,917,029</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">10,514,697</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Interest paid</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: -9pt">SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -9.35pt; padding-left: 18.7pt">Inception capital lease obligation for acquiring property, plant and equipment</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,127,913</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.12in">Issuance of common stock for exercising stock options</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">48</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.12in">Issuance of common stock for exercising warrants</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.12in">Issuance of common stock for settlement of stockholder&rsquo;s notes payable</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21,287,493</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.12in">Issuance of common stock for acquiring property, plant and equipment</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">608,227</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6,028,588</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The accompanying notes are an integral part of these consolidated
financial statements.&nbsp;</P>

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

<!-- Field: Page; Sequence: 68; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DECEMBER 31, 2011</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Expressed in U.S. dollars)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NOTE 1 &ndash; NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basis
of Presentation</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying audited consolidated financial
statements have been prepared by Gulf Resources, Inc. a Delaware corporation and its subsidiaries (collectively, the &ldquo;Company&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upper Class Group Limited was incorporated
with limited liability in the British Virgin Islands on July 28, 2006 and was inactive until October 9, 2006 when Upper Class Group
Limited acquired all the issued and outstanding stock of Shouguang City Haoyuan Chemical Company Limited (&ldquo;SCHC&rdquo;).&nbsp;&nbsp;SCHC
is an operating company incorporated in Shouguang City, Shangdong Province, the People&rsquo;s Republic of China (the &ldquo;PRC&rdquo;)
on May 18, 2005.&nbsp;&nbsp;SCHC is engaged in manufacturing and trading bromine and crude salt in China.&nbsp;&nbsp;Since the
ownership of Upper Class Group Limited and SCHC were the same, the merger was accounted for as a transaction between entities under
common control, whereby Upper Class Group Limited recognized the assets and liabilities transferred at their carrying amounts.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 12, 2006, Gulf Resources, Inc.
(formerly Diversifax, Inc.), a public &ldquo;shell&rdquo; company, acquired Upper Class Group Limited and its wholly-owned subsidiary,
SCHC (together &ldquo;Upper Class&rdquo;).&nbsp;&nbsp;Under the terms of the agreement, all stockholders of Upper Class received
a total amount of 13,250,000 (restated for the 2-for-1 stock split in 2007 and the 1-for-4 stock split in 2009) shares of voting
common stock of Gulf Resources, Inc. in exchange for all shares of Upper Class&rsquo; common stock held by all stockholders.&nbsp;&nbsp;Under
accounting principles generally accepted in the United States, the share exchange is considered to be a capital transaction in
substance, rather than a business combination.&nbsp;&nbsp;That is, the share exchange is equivalent to the issuance of stock by
Upper Class for the net monetary assets of Gulf Resources, Inc., accompanied by a recapitalization, and is accounted for as a change
in capital structure. Accordingly, the accounting for the share exchange will be identical to that resulting from a reverse acquisition,
except no goodwill will be recorded.&nbsp;&nbsp;Under reverse takeover accounting, the post reverse acquisition comparative historical
financial statements of the legal acquirer, Gulf Resources, Inc., are those of the legal acquiree, Upper Class, which is considered
to be the accounting acquirer.&nbsp;&nbsp;Share and per share amounts stated have been retroactively adjusted to reflect the merger.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 5, 2007, SCHC acquired Shouguang
Yuxin Chemical Industry Co., Limited (&ldquo;SYCI&rdquo;), a company incorporated in PRC on October 30, 2000.&nbsp;&nbsp;SYCI manufactures
chemical products utilized in oil and gas field explorations and as papermaking chemical agents. Under the terms of the merger
agreement, all stockholders of SYCI received a total amount of 8,094,059 (restated for the 2-for-1 stock split in 2007 and the
1-for-4 stock split in 2009) shares of voting common stock of Gulf Resources, Inc. in exchange for all shares of SYCI&rsquo;s common
stock held by all stockholders.&nbsp;&nbsp;&nbsp;Also, upon the completion of the merger, Gulf Resources, Inc. paid a $2,550,000
dividend to the original stockholders of SYCI.&nbsp;&nbsp;Since the ownership of Gulf Resources, Inc. and SYCI are substantially
the same, the merger was accounted for as a transaction between entities under common control, whereby Gulf Resources, Inc. recognized
the assets and liabilities of the Company transferred at their carrying amounts.&nbsp;&nbsp;Share and per share amounts stated
have been retroactively adjusted to reflect the merger.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November 11, 2007, Upper Class formed
Hong Kong Jiaxing Industrial Limited (formerly known as Jiaxing Technology Limited) (&ldquo;HKJI&rdquo;), a wholly-owned subsidiary
of Upper Class, in Hong Kong. Upper Class transferred its equity interest in SCHC to HKJI.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The adoption of the Financial Accounting
Standards Board (&ldquo;FASB&rdquo;) Accounting Standards Codification (&ldquo;ASC&rdquo; or &ldquo;Codification&rdquo;) did not
result in significant effect in the accounting policies adopted by the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All relevant share data have been adjusted
retrospectively to reflect a 1-for-4 stock split effective on October 12, 2009.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nature
of the Business</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company manufactures and trades bromine
and crude salt through SCHC, and manufactures chemical products for use in the oil industry and paper manufacturing industry through
SYCI.&nbsp;</P>

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

<!-- Field: Page; Sequence: 69; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 1 &ndash; NATURE OF BUSINESS AND SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES &ndash; Continued</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements include
the accounts of Gulf Resources, Inc. and its wholly-owned subsidiaries, Upper Class, a company incorporated in the British Virgin
Islands, which owns 100% of HKJI, a company incorporated in Hong Kong, which owns 100% of SCHC and SYCI, which is 100% owned by
SCHC.&nbsp;&nbsp;All material intercompany transactions have been eliminated on consolidation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements have
been restated for all periods prior to the mergers to include the financial position, results of operations and cash flows of the
commonly controlled companies.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s consolidated financial
statements have been prepared in accordance with accounting principles generally accepted in the United States of America and this
requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of
the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period.&nbsp;&nbsp;The
Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under
the circumstances.&nbsp;&nbsp;The most significant accounting estimates with regard to these consolidated financial statements
that require the most significant and subjective judgments include, but are not limited to, useful lives of property, plant and
equipment, recoverability of long-lived assets, determination of impairment losses, assessment of market value of inventories and
provision for inventory obsolescence, allowance for doubtful accounts, recognition and measurement of current and deferred income
taxes, valuation allowance for deferred tax assets, and assumptions used for the valuation of share based payments.&nbsp;&nbsp;Accordingly,
actual results may differ significantly from these estimates under different assumptions or conditions.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and cash equivalents consist of all
cash balances and highly liquid investments with original maturities of three months or less. Because of short maturity of these
investments, the carrying amounts approximate their fair values.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts
Receivable and Allowance of Doubtful Accounts</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable is stated at cost,
net of allowance for doubtful accounts. The Company establishes an allowance for doubtful accounts based on management&rsquo;s
assessment of the collectability of trade and other receivables. A considerable amount of judgment is required in assessing the
amount of allowance and the Company considers the historical level of credit losses and applies certain percentage to accounts
receivable balance. The Company makes judgments about the credit worthiness of each customer based on ongoing credit evaluations,
and monitors current economic trends that might impact the level of credit losses in the future. If the financial condition of
the customer begins to deteriorate, resulting in their inability to make payments, a larger allowance may be required.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2011 and 2010, allowance
for doubtful accounts were nil. No allowances for doubtful accounts were charged to the income statement for the years ended December
31, 2011, 2010 and 2009.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Concentration
of Credit Risk</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is exposed to credit risk in
the normal course of business, primarily related to accounts receivable and cash and cash equivalents. Substantially all of the
Company&rsquo;s cash and cash equivalents are maintained with financial institutions in the PRC, namely, Industrial and Commercial
Bank of China Limited and China Merchants Bank Company Limited, which are not insured or otherwise protected. The Company placed
$78,526,060 and $68,444,480 with these institutions as of December 31, 2011 and 2010, respectively.&nbsp;&nbsp;The Company has
not experienced any losses in such accounts in the PRC.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Concentrations
of credit risk with respect to accounts receivable exists as the Company sells a substantial portion of its products to a limited
number of customers. However, such concentrations of credit risks are limited since the Company performs ongoing credit evaluations
of its customers&rsquo; financial condition and due to the generally short payment terms.</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
balances of accounts receivable as of December 31, 2011 and 2010 are all amounts outstanding for less than three months.</FONT></P>

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

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

<!-- Field: Page; Sequence: 70; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 1 &ndash; NATURE OF BUSINESS AND SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES &ndash; Continued</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories are stated at the lower of
cost, determined on a first-in first-out cost basis, or market. Costs of work-in-progress and finished goods comprise direct materials,
direct labor and an attributable portion of manufacturing overhead. Net realizable value is based on estimated selling price less
costs to complete and selling expenses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Property, Plant and Equipment</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property, plant and equipment are stated
at cost less accumulated depreciation and any impairment losses. Expenditures for new facilities or equipment, and major expenditures
for betterment of existing facilities or equipment are capitalized and depreciated using the straight-line method at rates sufficient
to depreciate such costs over the estimated productive lives. All other ordinary repair and maintenance costs are expensed as incurred.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mineral rights are recorded at cost less
accumulated depreciation and any impairment losses. Mineral rights are amortized ratably over the term of the lease, or the equivalent
term under the units (in tonnes) of production method, whichever is shorter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Construction in progress primarily represents
direct costs of construction of property, plant and equipment. Costs incurred are capitalized and transferred to property, plant
and equipment upon completion, at which time depreciation commences.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s depreciation and amortization
policies on property, plant and equipment other than mineral rights and construction in progress are as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Useful&nbsp;life<BR>(in&nbsp;years)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Buildings (including salt pans)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">8 - 20</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Plant and machinery (including protective shells, transmission channels and ducts)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">5 - 8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 87%; text-align: left">Motor vehicles</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: center">5</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Furniture, fixtures and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
April 2011, the Company changed the estimated useful life of certain protective shells and transmission channels and ducts that
included in plant and machinery from 8 years to 5 years.</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Initially,
the Company expected the protective shells&rsquo; useful lives would be 8 years with reference to the past wear and tear experienced
in 2005. In view of the increased rate of erosion experienced in last 2 years, which reduced the volume of brine water flowing
into the bromine production process and adversely affected the annual bromine and crude salt production capacities and efficiencies;
and the recent directional information from the Crude Salt Institutional Association in Shandong Province, PRC, which indicated
that the latest erosion rate would be 20% per annum, the Company reduced the useful lives of such protective shells to 5 years
to reflect the most productive cycle. Changes in estimates are accounted for on a prospective basis, by depreciating those plant
and machinery current carrying values over their revised remaining useful lives. The effect of this change in estimate, compared
to the original depreciation, for fiscal year 2011 was a pre-tax increment in depreciation expense of $975,517. The pre-tax increase
(decrease) to depreciation expense in future periods is expected to be $1,115,252, $836,863, $219,197, ($380,464), ($1,225,851),
($927,600), ($566,456) and ($46,457) in the eight years ending December 31, 2019.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Property, plant and equipment under capital leases are depreciated
over their expected useful lives on the same basis as owned assets, or where shorter, the term of the lease, which is 20 years.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows FASB ASC 410, which
established a uniform methodology for accounting for estimated reclamation and abandonment costs. FASB ASC 410 requires the fair
value of a liability for an asset retirement obligation to be recognized in the period in which the legal obligation associated
with the retirement of the long-lived asset is incurred. When the liability is initially recorded, the offset is capitalized by
increasing the carrying amount of the related long-lived asset. Over time, the liability is accreted to its present value each
period, and the capitalized cost is depreciated over the useful life of the&nbsp;related asset. To settle the liability, the obligation
is paid, and to the extent there is a difference between the liability and the amount of cash paid, a gain or loss upon settlement
is recorded.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Currently, there are no reclamation or
abandonment obligations associated with the land being utilized for exploitation.</P>

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

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

<!-- Field: Page; Sequence: 71; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 1 &ndash; NATURE OF BUSINESS AND SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES &ndash; Continued</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recoverability
of Long Lived Assets</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with ASC 360-10-35 &ldquo;Impairment
or Disposal of Long-lived Assets&rdquo;, long-lived assets to be held and used are analyzed for impairment whenever events or changes
in circumstances indicate that the carrying amount of an asset may not be fully recoverable or that the useful lives of those assets
are no longer appropriate. The Company evaluates at each balance sheet date whether events and circumstances have occurred that
indicate possible impairment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determines the existence of
such impairment by measuring the expected future cash flows (undiscounted and without interest charges) and comparing such amount
to the carrying amount of the assets. An impairment loss, if one exists, is then measured as the amount by which the carrying amount
of the asset exceeds the discounted estimated future cash flows. Assets to be disposed of are reported at the lower of the carrying
amount or fair value of such assets less costs to sell. Asset impairment charges are recorded to reduce the carrying amount of
the long-lived asset that will be sold or disposed of to their estimated fair values. Charges for the asset impairment reduce the
carrying amount of the long-lived assets to their estimated salvage value in connection with the decision to dispose of such assets.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with the provisions of the
FASB ASC 360-10 &ldquo;Impairment or Disposal of Long-lived Assets&rdquo; subsections, (i) owned long-lived assets held and used
with a carrying amount of $9,421,857 were written down to their fair value of $7,616,259, resulting in an impairment charge of
$1,805,598, which was included in earnings for the year ended December 31, 2011; and (ii) long-lived assets held and used under
capital lease with a carrying amount of $3,051,054 were written down to their fair value of $2,368,008, resulting in an impairment
charge of $683,046, which was included in earnings for the year ended December 31, 2011. The following table sets forth the fair
value and related impairment charges for the year ended December 31, 2011:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">Fair&nbsp;Value&nbsp;Measurements&nbsp;Using</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Description</P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Year&nbsp;ended <BR>December&nbsp;31,<BR>2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Quoted&nbsp;Prices&nbsp;in <BR>Active&nbsp;Markets&nbsp;for<BR>Identical&nbsp;Assets <BR>(Level&nbsp;1)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Significant&nbsp;Other <BR>Observable&nbsp;Inputs<BR>(Level&nbsp;2)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Significant <BR>Unobservable<BR>Inputs <BR>(Level&nbsp;3)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Total&nbsp;Gains&nbsp;(Losses)</P></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 35%; text-align: left; text-indent: -7.05pt; padding-left: 7.05pt">Owned long-lived assets (plant and machinery) held and used</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">7,616,259</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">7,616,259</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(1,805,598</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -7.05pt; padding-left: 7.05pt">Long-lived assets (plant and machinery) held under capital lease and used</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">2,368,008</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">2,368,008</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(683,046</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(2,488,644</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
above owned long-lived assets, which is classified as Level 3 in the fair value hierarchy, was valued using a discounted cash flow
model incorporating assumptions that, in management&rsquo;s judgment, reflect the assumptions marketplace participants would use
at December 31, 2011.</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Such assumptions included an estimate of future
cash flows and a discount rate based on the 5-year PRC Treasury bill rate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The long-lived assets held under capital
lease, which is classified as Level 2 in the fair value hierarchy, was valued by an independent appraiser using the market approach,
which included mainly quoted prices for similar assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determined that no impairment
was required after going through the impairment testing to the operating long-lived assets as of December 31, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retirement
Benefits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the relevant laws and regulations
in the PRC, the Company participates in a defined contribution retirement plan for its employees arranged by a governmental organization.
The Company makes contributions to the retirement scheme at the applicable rate based on the employees&rsquo; salaries. &nbsp;The
required contributions under the retirement plans are charged to the consolidated income statement on an accrual basis when they
are due. &nbsp;The Company&rsquo;s contributions totaled $431,428, $457,805 and $270,324 for the years ended December 31, 2011,
2010 and 2009, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mineral
Rights</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company follows FASB ASC 805 &ldquo;Business
Combinations&rdquo; that certain mineral rights are considered tangible assets and that mineral rights should be accounted for
based on their substance. Mineral rights are included in property, plant and equipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leasing
arrangements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Rentals payable under operating leases
are charged to the statements of income on a straight line basis over the term of the relevant lease. For capital leases, the present
value of future minimum lease payments at the inception of the lease is reflected as an asset and a liability in the statement
of financial position. Amounts due within one year are classified as short-term liabilities and the remaining balance as long-term
liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 72; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 1 &ndash; NATURE OF BUSINESS AND SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES &ndash; Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reporting
Currency and Translation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The financial statements of the Company&rsquo;s
foreign subsidiaries are measured using the local currency, Renminbi (&ldquo;RMB&rdquo;), as the functional currency; whereas the
functional currency and reporting currency of the Company is the United States dollar (&ldquo;USD&rdquo; or &ldquo;$&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As such, the Company uses the &ldquo;current
rate method&rdquo; to translate its PRC operations from RMB into USD, as required under ASC 830 &ldquo;Foreign Currency Matters&rdquo;.
The assets and liabilities of its PRC operations are translated into USD using the rate of exchange prevailing at the balance sheet
date. The capital accounts are translated at the historical rate. Adjustments resulting from the translation of the balance sheets
of the Company&rsquo;s PRC subsidiaries are recorded in stockholders&rsquo; equity as part of accumulated comprehensive income.
The statement of income and comprehensive income is translated at average rates during the reporting period. Gains or losses resulting
from transactions in currencies other than the functional currencies are recognized in net income for the reporting periods as
part of general and administrative expense. The statement of cash flows is translated at average rates during the reporting period,
with the exception of issuance of shares and payment of dividends which are translated at historical rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign
Operations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All of the Company&rsquo;s operations and
assets are located in PRC.&nbsp;&nbsp;The Company may be adversely affected by possible political or economic events in this country.&nbsp;&nbsp;The
effect of these factors cannot be accurately predicted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue
Recognition</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recognizes revenue, net of
value-added tax, when persuasive evidence of an arrangement exists, delivery of the goods has occurred, customer acceptance has
been obtained, which means the significant risks and ownership have been transferred to the customer, the price is fixed or determinable
and collectability is reasonably assured.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income
Taxes</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounts for income taxes in
accordance with the Income Taxes Topic of the FASB ASC, which requires the use of the liability method of accounting for deferred
income taxes. Under this method, deferred income taxes are recorded to reflect the tax consequences on future years of temporary
differences between the tax basis of assets and liabilities and their reported amounts at each period end. If it is more likely
than not that some portion or all of a deferred tax asset will not be realized, a valuation allowance is recognized. The guidance
also provides criteria for the recognition, measurement, presentation and disclosures of uncertain tax positions. A tax benefit
from an uncertain tax position may be recognized if it is &ldquo;more likely than not&rdquo; that the position is sustainable based
solely on its technical merits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exploration
Costs</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Exploration costs, which included the cost
of researching appropriate places to drill wells and the cost of actual drilling of potential natural brine resources, were charged
to the income statement as incurred. For the year ended December 31, 2011, the Company incurred exploration costs in the amount
of $7,034,153, in Sichuan province, PRC, for the drilling of exploratory wells and their associated facilities in order to confirm
and measure the natural brine resources in the area of drilling. The Company completed the drilling of exploratory wells in December
2011 and received a testing report in mid-January 2012 which confirmed the underground brine water resources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shipping
and Handling Fees and Costs</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company does not charge its customers
for shipping and handling as all customers arrange their own transportation of finished goods. The Company classifies shipping
and handling costs for purchase of raw materials as part of the cost of net revenue, which amounted to $506,331, $567,686 and $492,582
for the years ended December 31, 2011, 2010 and 2009, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contingencies</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accrues for costs relating
to litigation, including litigation defense costs, claims and other contingent matters, including liquidated damage liabilities,
when such liabilities become probable and reasonably estimable. Such estimates may be based on advice from third parties or on
management&rsquo;s judgment, as appropriate. Revisions to accruals are reflected in earnings (loss) in the period in which different
facts or information become known or circumstances change that affect the Company&rsquo;s previous assumptions with respect to
the likelihood or amount of loss. Amounts paid upon the ultimate resolution of such liabilities may be materially different from
previous estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 73; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NOTE 1 &ndash; NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES &ndash; Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based
Compensation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Common stock, stock options and stock warrants
issued to employees or directors are recorded at their fair values estimated at grant date using the Black-Scholes model and the
portion that is ultimately expected to vest is recognized as compensation cost over the requisite service period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Common stock, stock options and stock warrants
issued to other than employees or directors are recorded on the basis of their fair value using the Black-Scholes model on the
basis of the market price of the underlying common stock on the &ldquo;valuation date,&rdquo; which for options and warrants related
to contracts that have substantial disincentives to non-performance is the date of the contract, and for all other contracts the
measurement date is the date that the service is complete. Expense related to the options and warrants is recognized on a straight-line
basis over the shorter of the period over which services are to be received or the vesting period. Where expense must be recognized
prior to a valuation date, the expense is computed under the Black-Scholes model on the basis of the market price of the underlying
common stock at the end of the period, and any subsequent changes in the market price of the underlying common stock up through
the valuation date is reflected in the expense recorded in the subsequent period in which that change occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic
and Diluted Net Income per Share of Common Stock</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic earnings per common share are based
on the weighted average number of shares outstanding during the periods presented.&nbsp;&nbsp;Diluted earnings per share are computed
using weighted average number of common shares plus dilutive common share equivalents outstanding during the period.&nbsp;&nbsp;Anti-dilutive
common stock equivalents which were excluded from the calculation of number of dilutive common stock equivalents amounted to 535,449,
14,250 and 305,449 shares for the years ended December 31, 2011, 2010 and 2009, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table sets forth the computation of basic and
diluted earnings per share:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">Years&nbsp;ended&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Numerator</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left; padding-left: 9pt">Net income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">30,952,760</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">51,283,320</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">30,591,415</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Denominator</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -9.35pt; padding-left: 18.7pt">Basic: Weighted-average common shares outstanding during the year</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,660,866</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,614,667</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,698,824</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Add: Dilutive effect of stock options</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,749</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">60,662</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,873</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt">Diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,673,615</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,675,329</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,701,697</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Net income per share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9pt">Basic</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.89</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1.48</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1.00</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9pt">Diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.89</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1.48</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1.00</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reclassification</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company reclassified mineral resources
compensation fees, previously included in &ldquo;General and administrative expenses&rdquo;, for year ended December 31, 2009 into
&ldquo;Cost of net revenue&rdquo; and sales of wastewater and gain or loss on disposal of property, plant and equipment, previously
included in &ldquo;Other Income (Expense)&rdquo; after &ldquo;Income from Operations&rdquo;, for the years ended December 31, 2010
and 2009 into &ldquo;Other operating income&rdquo; for sales of wastewater and gain on disposal of property, plant and equipment
and &ldquo;General and administrative expenses&rdquo; for loss on disposal of property, plant and equipment to conform to the current
year presentation. The above reclassifications had no impact on previously reported net income for the years ended December 31,
2010 and 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recently
adopted accounting pronouncements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2009, the FASB issued Accounting
Standard Update (&ldquo;ASU&rdquo;) No.&nbsp;2009-13, &ldquo;Multiple-Delivery Revenue Arrangements&rdquo; (&ldquo;ASU 2009-13&rdquo;),
which establishes the accounting and reporting guidance for arrangements including multiple deliverable revenue-generating activities,
and provides amendments to the criteria for separating deliverables, and measuring and allocating arrangement consideration to
one or more units of accounting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 74; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NOTE 1 &ndash; NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT
ACCOUNTING POLICIES &ndash; Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recently
adopted accounting pronouncements &ndash; Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amendments of ASU 2009-13 also establish
a hierarchy for determining the selling price of a deliverable, and require significantly enhanced disclosures to provide information
about a vendor&rsquo;s multiple-deliverable revenue arrangements, including information about their nature and terms, significant
deliverables, and the general timing of delivery. The amendments also require disclosure of information about the significant judgments
made and changes to those judgments, and about how the application of the relative selling price method affects the timing or amount
of revenue recognition. The amendments of ASU 2009-13 are effective prospectively for revenue arrangements entered into or materially
modified in annual reporting periods beginning on or after June&nbsp;15, 2010. On January 1, 2011, the Company adopted ASU 2009-13
on a prospective basis. The adoption did not have a material impact on the Company&rsquo;s financial position or results of operations,
but could have an impact on how the Company accounts for any future collaboration agreements, should the Company enter into any
such agreements in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In January 2010, FASB issued ASU No. 2010-06,
&ldquo;Fair Value Measurements and Disclosures (Topic 820) &ndash; Improving Disclosures about Fair Value Measurements&rdquo; (&ldquo;ASU2010-06&rdquo;).
This update provides amendments to ASC Topic 820 that provide disclosures about purchases, sales, issuances, and settlements in
the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after
December 15, 2010, and for interim periods within those fiscal years. The Company adopted the disclosure requirements effective
January 1, 2011. The adoption of this update did not have a material impact to the Company&rsquo;s financial position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recently
issued accounting pronouncements not yet adopted</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In May 2011, FASB issued ASU No. 2011-04,
&ldquo;Fair Value Measurement (Topic 82) &ndash; Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements
in U.S. GAAP and IFRSs&rdquo; (&ldquo;ASU 2011-04&rdquo;). The amendments in this update will ensure that fair value has the same
meaning in U.S. GAAP and in IFRS and that their respective fair value measurement and disclosure requirements are the same. This
update is effective prospectively for interim and annual periods beginning after December 15, 2011. Early adoption by public entities
is not permitted, and the Company is therefore required to adopt this ASU on January 1, 2012. The Company is evaluating the guidance
and does not expect its adoption to have a material impact on the Company&rsquo;s results of operations, financial position or
cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2011, FASB issued ASU No. 2011-05,
Comprehensive Income (&ldquo;ASU 2011-05&rdquo;), which will require companies to present the components of net income and other
comprehensive income (&ldquo;OCI&rdquo;) either as one continuous statement or as two consecutive statements. ASU 2011-05 eliminates
the option to present components of OCI as part of the statement of changes in stockholders&rsquo; equity. The update does not
change the items which must be reported in OCI, how such items are measured or when they must be reclassified to net income. In
December 2011, FASB issued ASU No. 2011-12, &ldquo;Deferral of the Effective Date for Amendments to the Presentation of Reclassifications
of Items Out of Accumulated Other Comprehensive Income in ASU 2011-05&rdquo; (&ldquo;ASU 2011-12&rdquo;), which defers the requirement
in ASU 2011-05 that companies present reclassification adjustments for each component of accumulated OCI and OCI. ASU 2011-05 was
set to be effective for interim and annual periods beginning after December 15, 2011, but is deferred by ASU 2011-12. The Company
does not expect ASU 2011-05 or ASU 2011-12 to have a material impact on its financial statements or results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2011, FASB issued ASU No. 2011-11,
&ldquo;Disclosures about Offsetting Assets and Liabilities&rdquo; (&ldquo;ASU 2011-11&rdquo;), which will require disclosures for
entities with financial instruments and derivatives that are either offset on the balance sheet in accordance with ASC 210-20-45
or ASC 815-10-45, or subject to a master netting arrangement. ASU 2011-11 is effective for interim and annual periods beginning
on or after January 1, 2013. The Company has not completed its review of ASU 2011-11, but it does not expect its adoption to have
a material impact on the Company&rsquo;s results of operations, financial position or cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company does not believe that any other
accounting standards and guidance with an effective date during year ended December 31, 2011 or issued during 2011 had or are expected
to have a significant impact on the Company&rsquo;s consolidated financial statements and the disclosures presented in the consolidated
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 2 &ndash; ASSETS ACQUISITIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 7, 2009, the Company&nbsp;acquired
substantially all of the assets owned by Qiufen Yuan, Han Wang and Yufen Zhang in the&nbsp;Shouguang City Renjiazhuangzi Village
North Area (the &ldquo;Qiufen Yuan, Han Wang &amp; Yufen Zhang property&rdquo; or &ldquo;Factory No. 7&rdquo;). The Qiufen Yuan,
Han Wang and Yufen Zhang property includes a 50-year land lease covering 1,611 acres of real property, with the related production
facility, the pipelines, other production equipment, and the buildings located on the property. The total purchase price for the
acquired assets was $10,615,000, consisting of $10,000,000 in cash and 375,000 shares of the Company&rsquo;s Common Stock valued
at $615,000 (fair value).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 75; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 2 &ndash; ASSETS ACQUISITIONS &ndash;
Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 7, 2009, the Company acquired
substantially all of the assets owned by Yuliang Gao, Han Wang and Qing Yang in the Shouguang City Yingli Township Beishan Village
(the &ldquo;Yuliang Gao, Han Wang &amp; Qing Yang property&rdquo; or &ldquo;Factory No. 8&rdquo;).&nbsp; Fengxia Yuan acted as
Attorney-in-Fact for one of the owners of Factory 8, Yuliang Gao, and entered into the acquisition agreement relating to Factory
8 on behalf of Yuliang Gao. The Yuliang Gao, Han Wang and Qing Yang property includes a 50-year land lease covering 2,723 acres
of real property, with the related production facility, the pipelines, other production equipment, and the buildings located on
the property. The total purchase price for the acquired assets was $16,930,548, consisting of $11,516,960 in cash and 1,057,342
shares of the Company&rsquo;s Common Stock valued at $5,413,588 (fair value).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 7, 2010, the Company acquired substantially
all of the assets owned by Jinjin Li and Qiuzhen Wang in the Shouguang City Yangkou Township Yangzhuang Village (the &ldquo;Jinjin
Li and Qiuzhen Wang property&rdquo; or &ldquo;Factory No. 9&rdquo;).&nbsp;Jinjin Li was acting individually and as Attorney-in-Fact
for four other owners of Factory 9, Yueliang Wang, Kunming Tian, Gaoming Tian and Zhiqiang Wei. The Jinjin Li and Qiuzhen Wang
property includes a 50-year land lease covering 759 acres of real property, with the related production facility, the pipelines,
other production equipment, and the buildings located on the property. The total purchase price for the acquired assets was $13,905,719,
consisting of $13,297,492 in cash and 70,560 shares of the Company&rsquo;s Common Stock valued at $608,227 (fair value).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 30, 2010, SCHC acquired substantially
all of the assets owned by the State-Operated Shouguang Qingshuibo Farm (the &ldquo;Crude Salt Field&rdquo;).&nbsp;&nbsp;The Crude
Salt Field includes a 30-year land lease covering 568 acres of crude salt field, as well as the related fixtures and facilities
located on the crude salt field. The total purchase price for the Crude Salt Field was $11,023,000 in cash consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the lease contract signed by
SCHC on November 5, 2010 with State-Operated Shouguang Qingshuibo Farm (the &ldquo;Lessor&rdquo;), the Company recognized in January
2011 (1) a 20-year capital lease of a real property adjacent to Factory No. 1, with the related production facility, channels and
ducts, other production equipment and the buildings located on the property, with an annual payment of RMB1,877,000 (approximately
$295,365) up to December 31, 2030 to the Lessor, aggregating $3,127,913 (the present value of the minimum lease payments); and
(2) a 20-year land lease and rights to new extraction wells on which the aforesaid real property, production facilities, channels
and ducts, other production equipment and the buildings are situated, with an annual payment of RMB3,123,000 (approximately $495,651)
up to December 31, 2030 to the Lessor. The lease was accounted for under FASB ASC 840-10-25 &ldquo;Leases &ndash; Recognition&rdquo;
and the cost of $3,127,913 was included in property, plant equipment under capital lease in the first quarter of 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company also enhanced the new plant
and machinery leased in the first quarter of 2011 by making capital improvement in reconstruction and renovation work at a cost
of approximately $3,050,400, which was recorded as buildings and plant and machinery, for the operation of the aforesaid real property,
production facilities, channels and ducts, other production equipment and the buildings located on the property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the second quarter of 2011, the Company
carried out enhancement projects to its existing bromine extraction and crude salt production facilities. In particular, the Company
incurred reconstruction and renovation works at a cost of approximately $12,379,153 for its crude salt fields in Factory No. 1,
5 to 9, and at a cost of approximately $20,087,600 for its extraction wells and transmission channels and ducts in Factory No.
1 to 9. The above enhancement projects have estimated useful lives of 5 to 8 years and are capitalized as buildings and plant and
machinery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 22, 2011, the Company&nbsp;acquired
substantially all of the assets owned by Liangcai Zhang in the&nbsp;Shouguang City Yangkou Township Area (the &ldquo;Liangcai Zhang
property&rdquo; or &ldquo;Factory No. 10&rdquo;). The Liangcai Zhang property includes a 10-year land lease covering 1,700 acres
of real property, with the related production facility, the wells, pipelines, other production equipment, and the buildings located
on the property. The total purchase price for the acquired assets was RMB63 million (approximately $9,998,730) in cash. The Company
expected to resume production with the newly acquired assets by the end of first quarter 2012 after repair and adjustments. A rental
agreement was subsequently signed in February 2012 with the State-Operated Shandong Caiyangzi Saltworks for the lease of the parcel
of land on which the aforesaid real property, production facilities, the wells, pipelines, other production equipment, and the
buildings are situated, with an annual payment of RMB688,000 (approximately $109,192) up to December 31, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Each of the bromine factories and Crude
Salt Field acquisitions described above was not in operation when the Company acquired the assets.&nbsp;&nbsp;The owners of each
of the bromine factories did not hold the proper license for the exploration and production of bromine, and production at each
of the assets acquired had previously been halted by the government.&nbsp;With respect to Factory No. 7, the assets had not been
operational for twelve months; with respect to Factory No. 8, the assets had not been operational for thirteen months; with respect
to Factory No. 9, the assets had not been operational for six months; and with respect to Factory No. 10, the assets had not been
operational for more than six months. The Crude Salt Field had not been in operation for six months. The Company recorded the above
transactions as purchase of assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 76; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 3 &ndash; INVENTORIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inventories consist of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">As&nbsp;of&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left">Raw materials</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">848,596</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">769,817</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Finished goods</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,604,247</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,916,775</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Allowance for obsolete and slow-moving inventories</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(14,871</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(6,693</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt"></TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,437,972</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,679,899</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 4 &ndash; PREPAID LAND LEASE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company prepaid for land leases with
lease terms for periods ranging from one to fifty years to use the land on which the office premises, production facilities and
warehouses of the Company are situated. The prepaid land lease is amortized on a straight line basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2011,
amortization of prepaid land lease totaled $424,467, which was recorded as cost of net revenue. During the year ended December
31, 2010, amortization of prepaid land lease totaled $104,940, of which $104,349 and $591 were recorded as cost of net revenue
and administrative expenses, respectively. During the year ended December 31, 2009, amortization of prepaid land lease totaled
$57,985, of which $57,398 and $587 were recorded as cost of net revenue and administrative expenses, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has the rights to use certain
parcels of land located in Shouguang, the PRC, through lease agreements signed with local townships.&nbsp;&nbsp;Such parcels of
land are collectively owned by local townships and accordingly, the Company could not obtain land use rights certificates on these
parcels of land.&nbsp;&nbsp;The parcels of land of which the Company could not obtain land use rights certificates covers a total
of approximately&nbsp;101.52 square kilometers of aggregate carrying value of $766,748 and&nbsp;approximately&nbsp;92.32 square
kilometers&nbsp;square meters of aggregate carrying value of $743,275 as at December 31, 2011 and 2010, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 5 &ndash; PROPERTY, PLANT AND EQUIPMENT,
NET</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property, plant and equipment, net consist
of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">As&nbsp;of&nbsp;December&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">At cost:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left; padding-left: 27pt">Mineral rights</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">6,318,750</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">6,011,790</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 27pt">Buildings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,974,528</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,878,225</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt">Plant and machinery</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">136,862,383</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88,149,060</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt">Motor vehicles</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,024</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,683</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 27pt">Furniture, fixtures and office equipment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,057,356</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,850,525</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">188,220,041</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">136,896,283</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation and amortization</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(41,019,301</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(24,717,284</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Net book value</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">147,200,740</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">112,178,999</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has certain buildings and salt
pans erected on parcels of land located in Shouguang, PRC, and such parcels of land are collectively owned by local townships.
The Company has not been able to obtain property ownership certificates over these buildings and salt pans as the Company could
not obtain land use rights certificates on the underlying parcels of land.&nbsp;The Company could not obtain property ownership
certificates covering certain properties of aggregate carrying value of $33,108,012 and $33,868,298 as at December 31, 2011 and
2010, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the fiscal year 2011, the Company reclassified
certain protective shells for crude salt pans with cost of $2,204,600 (RMB14.6 million), previously included in building, into
plant and equipment for consistent classification with other similar assets. Comparative figures for the fiscal year 2010 were
reclassified to conform to the current year presentation. There is no impact on the statements of income as estimated useful lives
of the assets being reclassified was not changed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2011,
depreciation and amortization expense totaled $17,432,382, of which $16,348,509 and $1,083,873 were recorded as cost of net revenue
and administrative expenses, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2010,
depreciation and amortization expense totaled $11,097,149 of which $10,236,230 and $860,919 were recorded as cost of net revenue
and administrative expenses, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2009,
depreciation and amortization expense totaled $7,199,658, of which $7,019,608 and $180,050 were recorded as cost of net revenue
and administrative expenses, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 77; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 5 &ndash; PROPERTY, PLANT AND EQUIPMENT,
NET &ndash; Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2010, the Company completed the
construction of a production line for wastewater treatment chemical additives line at a total cost of RMB60 million (equivalent
to $8,838,000).&nbsp; A retention amount of $453,000 as of December 31, 2010, representing 5% of the total cost will be paid to
Shouguang City Shengkun Construction Co., Ltd. upon one year after the completion date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In mid-May 2011, the local PRC government
requested to take the leased land of original Factory No. 4 for redevelopment and agreed to lease another parcel of land to the
Company nearby to the existing Factory No. 4. The total construction cost of the new Factory No. 4 was approximately $6,207,901,
which was completed and restarted operations in December 2011.&nbsp;A rental agreement was subsequently signed in February 2012
with the local Township government for the lease of the parcel of land with an annual payment of RMB100,000 (approximately $15,871)
up to December 31, 2031.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The operations of the original Factory
No. 4 were stopped in early July 2011 to cooperate with the demolition of the factory and the relocation of useful plant and machinery
to the new factory. For those fixed assets that could not be relocated to the new factory, the Company recognized write-offs of
$1,384,443 in the second quarter of 2011 and included the impairment loss in write-off / impairment on property, plant and equipment.
A sum of $1,340,026 was received from the local PRC government in the third quarter of 2011 as compensation for the demolition
of original Factory No. 4 and included in the income statement as other operating income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Besides the assets acquisition as mentioned
in Note 2, the Company carried out the following major enhancement projects to the existing facilities in 2011:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">In the first quarter of 2011, the Company carried out enhancements to the new property, plant and
machinery acquired under finance lease in January 2011 (see Note 6) by making capital improvement in reconstruction and renovation
work at a cost of approximately $3,050,400, which was recorded as buildings ($297,349) and plant and machinery ($2,753,051), for
the operation of the real property, production facilities, channels and ducts, other production equipment and the buildings located
on the property (&ldquo;Branch 1 of Factory No. 1&rdquo;). The capital improvement works to the buildings and plant and equipment
have estimated useful lives of 15-20 years and 5-8 years, respectively.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">In late June 2011, the Company completed enhancement projects to its crude salt fields, extraction
wells and transmission channels and ducts at a total cost of RMB210,113,600 (equivalent to $32,466,753), which were recorded as
plant and machinery. In particular, the Company incurred reconstruction and renovation works at a cost of approximately $12,379,153
for its existing crude salt fields in Factory No. 1, 5 to 9, at costs of approximately $12,361,600 for its extraction wells in
Factory No. 1 to 9, and $7,726,000 for its transmission channels and ducts, respectively, in Factory No. 1 to 9. The enhancement
work to existing extraction wells, drilling deeper underground for better quality brine water, has estimated useful lives of 8
years. None of the existing extraction wells were impaired as a result of the drilling enhancement. The enhancement works to crude
salt fields, transmission channels and ducts, replacing eroded protective shells for crude salt fields and transmission channels
and ducts, have estimated useful lives of 5 years. Certain eroded protective shells for crude salt fields and transmission channels
and ducts, with net book values of $1,632,004 and $1,315,476, respectively, were replaced during the enhancement projects, write-offs
of the same amounts, were made in the second quarter of 2011 and included in write-off / impairment on property, plant and equipment.
The Company also recognized write-offs of certain eroded protective shells for transmission channels and ducts, without enhancement
works, with net book values of $749,999, during the regular inspection of fixed assets, and included in write-off / impairment
on property, plant and equipment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">In mid-June 2011, the Company switched its production line for wastewater treatment chemical additives,
with net book value of $8,320,410, to the production of pharmaceutical and agricultural chemical intermediates at a cost of $153,426
as the Company experienced some technological limitations on extraction purity, which lead to a lower than expected gross margin
for wastewater treatment chemical additives. An impairment of $1,805,598 was made in the second quarter of 2011 and included in
write-off / impairment on property, plant and equipment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Enhancements of protective shells to the
crude salt fields, extraction wells and transmission channels and ducts are carried out every 5 to 8 years, depending on the need
to do so, that is, when regular repair and maintenance work identifies the replacement needs. The erosion rate of protection shells
is affected by different weather conditions and the change in acid components of brine water over time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There were no impairment provisions made
at December 31, 2010 and 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the years ended December 31, 2011,
2010 and 2009, ordinary repair and maintenance expenses were $1,078,134, $199,257 and $27,317, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 78; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 6 &ndash; PROPERTY, PLANT AND EQUIPMENT
UNDER CAPITAL LEASES, NET</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Property, plant and equipment under capital leases, net consist
of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">As of December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">At cost:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; padding-left: 9pt">Buildings</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">130,605</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Plant and machinery</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,476,460</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,607,065</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation and amortization</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(270,145</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Net book value</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,336,920</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The above buildings erected on parcels
of land located in Shouguang, PRC, are collectively owned by local townships. The Company has not been able to obtain property
ownership certificates over these buildings as the Company could not obtain land use rights certificates on the underlying parcels
of land.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2011,
depreciation and amortization expense totaled $265,057, of which $172,103 and $92,954 were recorded as cost of sales and administrative
expenses respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An impairment of $683,046 was made in the
second quarter of 2011 for those idle assets without enhancements and adjustments been performed in early 2011, and included in
write-off / impairment on property, plant and equipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 7 &ndash; ACCOUNTS PAYABLE AND ACCRUED
EXPENSE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts payable and accrued expenses consist
of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">As of December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left">Accounts payable</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,645,804</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">5,661,329</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Salary payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">132,454</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">121,121</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Social security insurance contribution payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39,129</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,946</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Amount due to a contractor</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,422,042</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Price adjustment funds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,031,685</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other payables</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,102,529</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">606,339</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,373,643</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6,419,735</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 8 &ndash; DUE TO A RELATED PARTY AND
RELATED PARTY TRANSACTIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Related party transactions consist of the
following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Years ended December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center">2011</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center">2010</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: center">2009</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Purchase of raw materials from a related party:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">-Shouguang Hongye Trading Company Limited (Note (a))</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">3,628,986</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left"></TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%">Note (a) -</TD>
    <TD STYLE="width: 88%; text-align: justify">Mr. Zhi Yang, a shareholder and son of the Chairman of the Company, had a 10% equity interest in Shouguang Hongye Trading Company Limited (&ldquo;Hongye&rdquo;) for the period from August 4, 2010 to December 2, 2010.&nbsp;&nbsp;Since December 2, 2010, Mr. Zhi Yang has not had any ownership interest in Hongye.&nbsp;&nbsp;Hongye is one of the major suppliers to the Company of sulfur, raw coal and various chemicals for the production of bromine and chemical products.&nbsp;&nbsp;The outstanding payables to Hongye, which were included in accounts payable as at December 31, 2010, amounted to $1,146,810.&nbsp;&nbsp;The products were sold to the Company by Hongye at market prices.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the fiscal year 2011, the Company
borrowed a sum of $7,823,475, and fully repaid later during the same year, from Jiaxing Lighting Appliance Company Limited (&ldquo;Jiaxing
Lighting&rdquo;), in which Mr. Ming Yang, a shareholder and the Chairman of the Company, had a 100% equity interest in Jiaxing
Lighting. The amounts due to Jiaxing Lighting were unsecured, interest free and repayable on demand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 79; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">NOTE
9 &ndash; TAXES PAYABLE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxes payable consists of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">As of December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left">Income tax payable</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,761,452</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">4,377,314</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Mineral resource compensation fee payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">410,719</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">486,585</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Value added tax payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">540,463</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,031,525</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Land use tax payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,081,117</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">966,397</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other tax payables</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">264,799</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">301,274</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,058,550</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,163,095</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 10 &ndash; CAPITAL LEASE OBLIGATIONS&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The components of capital lease obligations are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Imputed</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">As of December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Interest rate</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; text-align: left">Total capital lease obligations</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">6.7</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,226,300</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less: Current portion</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(189,742</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Capital lease obligations, net of current portion</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,036,558</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Interest expense from capital lease obligations
amounted to $210,347, was charged to the income statements for the year ended December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 11 &ndash; RETAINED EARNINGS &ndash;
APPROPRIATED</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In accordance with the relevant PRC regulations
and the PRC subsidiaries&rsquo; Articles of Association, the Company&rsquo;s PRC subsidiaries are required to allocate its profit
after tax to the following reserve:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Statutory Common Reserve Funds</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHC and SYCI are required each year to
transfer 10% of the profit after tax as reported under the PRC statutory financial statements to the Statutory Common Reserve Funds
until the balance reaches 50% of the registered share capital.&nbsp;&nbsp;This reserve can be used to make up any loss incurred
or to increase share capital.&nbsp;&nbsp;Except for the reduction of losses incurred, any other application should not result in
this reserve balance falling below 25% of the registered capital. The Statutory Common Reserve Fund as of December 31, 2011 for
SCHC and SYCI is 30% and 50% of its registered capital respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 12 &ndash; COMMON STOCK</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company changed the trading ticker
symbol of its common stock on the NASDAQ Global Select Market to &ldquo;GURE&rdquo; effective at the open of the market on June
30, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective October 12, 2009, the Company
effected a one for four reverse stock split.&nbsp;&nbsp;All shares and per share amount for all periods presented have been adjusted
to reflect the reverse stock split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2009, the Company issued 5,250,000
shares of its common stock as payment for $21,287,493 of Notes and Loan Payable-Related Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2009, the Company issued 375,000
shares of its common stock, valued at $615,000, to acquire assets owned by Qiufen Yuan, Han Wang and Yufen Zhang.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In September 2009, the Company issued 1,057,341
shares of its common stock, valued at $5,413,588, to acquire assets owned by Han Wang, Qing Yang and Yuliang Gao.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 80; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 12 &ndash; COMMON STOCK &ndash; Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2009, the Company issued 2,941,182
shares of its common stock at a price of $8.50 per share in a private placement. A portion of the proceeds were received by the
Company in January 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In August 2008, the Company granted to
one investor relations firm a warrant to purchase a total of 25,000 shares of the Company&rsquo;s common stock at an exercise price
of $4.80&nbsp;per share and the options vested immediately. In January 2010, the investor relations firm made a cashless exercise
for the warrant. The Company issued 15,881 shares based on the fair market price of $13.16.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the fourth quarter of 2008, the Company
granted to one Board member options to purchase a total of 12,500 shares of the Company&rsquo;s common stock at an exercise price
of $1.44&nbsp;per share and the options vested immediately.&nbsp; In February 2010, the Company issued 12,500 shares of its common
stock upon the exercise of such stock options by the Board member.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2010, the Company issued 70,560
shares of its common stock, valued at $608,227, to acquire assets owned by Mr Jinjin Li, Ms Qiuzhen Wang, Yueliang Wang, Kunming
Tian, Gaoming Tian and Zhiqiang Wei.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the fourth quarter of 2010, the Company
issued 95,905 shares of its common stock based on the fair market prices of $8.3 - $11.8 upon the cashless exercise of 187,500
stock options granted to the Board members and employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the second quarter of 2011, the Company
issued 9,430 shares of its common stock based on the fair market price of $3.42 upon the cashless exercise of 12,500 stock options
granted to a Board member.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 13 &ndash; TREASURY STOCK</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2011, the Company repurchased 100,500
shares of common stock of the Company at an average price of $3.46 per share for a total cost of $348,147 under the approval of
the Board of Directors. In September 2011, the Company repurchased 84,099 common stock of the Company at an average price of $1.81
per share for a total cost of $151,853 under the approval of the Board of Directors. The Company recorded the entire purchase price
of the treasury stock as a reduction of equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 14 &ndash; STOCK-BASED COMPENSATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the Company&rsquo;s Amended and Restated 2007 Equity
Incentive Plan, the aggregate number shares of the Company&rsquo;s common stock available for grant of stock options and issuance
is 4,341,989 shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair value of each option award below
is estimated on the date of grant using the Black-Scholes option-pricing model. The risk free rate is based on the yield-to-maturity
in continuous compounding of the US Government Bonds with the time-to-maturity similar to the expected tenor of the option granted,
volatility is based on the annualized historical stock price volatility of the Company, and the expected life is based on the expected
tenor, which has been taken into account of early exercise behavior of the option holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The&nbsp;Company issued 25,000 warrants
on August 1, 2008 at a price of $4.80 per share as part of a consulting agreement with its investor relations firm. These options
fully vested on August 1, 2009. The warrants were valued at $65,000, fair value, with assumed 162% volatility, a four-year expiration
term, a risk free rate of 3% and no dividend yield. The value of the warrants will be expensed over one year, which is&nbsp;the
term of the consulting agreement. For the year ended December 31, 2009, $48,616 was recognized as consulting expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March 2009, the Company granted to 9
management staff&nbsp;(including 4 directors of the Company) options to purchase a total of 150,000 shares (25,000 for each of
the executive directors, and 12,500 each for one non-executive independent director and 5 other management staff)&nbsp;of the Company&rsquo;s
common stock at an exercise price of $4.80 per share and the options vested immediately. The options were valued at $143,820 fair
value, with assumed 174% volatility, a three-year expiration term, a risk free rate of 1.43% and no dividend yield. For the year
ended December 31, 2009, $143,820 was recognized as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In May 2009, the Company granted to a director
options to purchase 12,500 shares&nbsp;of the Company&rsquo;s common stock at an exercise price of $4.80 per share and the options
vested immediately. The options were valued at $20,486 fair value, with assumed 170% volatility, a three-year expiration term,
a risk free rate of 1.43% and no dividend yield. For the year ended December 31, 2009, $20,486 was recognized as general and administrative
expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 81; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 14 &ndash; STOCK-BASED COMPENSATION
&ndash; Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In June 2009, the Company granted to a
director options to purchase 25,000 shares&nbsp;of the Company&rsquo;s common stock at an exercise price of $4.80 per share and
the options vested immediately. The options were valued at $39,534 fair value, with assumed 167% volatility, a three-year expiration
term, a risk free rate of 1.43% and no dividend yield. For the year ended December 31, 2009, $39,534 was recognized as general
and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2009, the Company granted to
2 management staff options to purchase 37,500 shares&nbsp;of the Company&rsquo;s common stock at an exercise price of $6.44 per
share and the options vested immediately. The options were valued at $219,656 fair value, with assumed 161% volatility, a three-year
expiration term, a risk free rate of 1.43% and no dividend yield. For the year ended December 31, 2009, $219,656 was recognized
as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2009, the Company granted to
an independent director options to purchase 12,500 shares&nbsp;of the Company&rsquo;s common stock at an exercise price of $9.65
per share and the options vested immediately. The options were valued at $90,648 fair value, with assumed 160% volatility, a three-year
expiration term, a risk free rate of 1.43% and no dividend yield. For the year ended December 31, 2009, $90,648 was recognized
as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2009, the Company granted to
an independent director options to purchase 12,500 shares&nbsp;of the Company&rsquo;s common stock at an exercise price of $10.14
per share and the options vested immediately. The options were valued at $92,315 fair value, with assumed 152% volatility, a three-year
expiration term, a risk free rate of 1.43% and no dividend yield. For the year ended December 31, 2009, $92,315 was recognized
as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2009, the Company granted to
an investment bank warrants to purchase 176,471 shares&nbsp;of the Company&rsquo;s common stock at an exercise price of $10.2 per
share and the warrants vested immediately. The warrants were valued at $1,367,156 fair value, with assumed 156% volatility, a three-year
expiration term, a risk free rate of 1.43% and no dividend yield. For the year ended December 31, 2009, $1,367,156 was recognized
as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In February 2010, the Company granted to
8 management staff options to purchase 132,500 shares&nbsp;of the Company&rsquo;s common stock at an exercise price of $8.25 per
share and the options vested immediately. The options were valued at $995,539 fair value, with assumed 154% volatility, a three-year
expiration term with expected tenor of 1.5 years, a risk free rate of 1.60% and no dividend yield. For the year ended December
31, 2010, $995,539 was recognized as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In February 2010, the Company granted to
the investor relations firm warrants to purchase 25,000 shares&nbsp;of the Company&rsquo;s common stock at an exercise price of
$12 per share and the warrants vested immediately. The warrants were valued at $193,428 fair value, with assumed 155% volatility,
a four-year expiration term, a risk free rate of 1.60% and no dividend yield. For the year ended December 31, 2010, $193,428 was
recognized as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2010, the Company granted to
2 independent directors options to purchase 25,000 shares&nbsp;of the Company&rsquo;s common stock at an exercise price of $10.43
per share and the options vested immediately. The options were valued at $93,462 fair value, with assumed 76% volatility, a three-year
expiration term with expected tenor of 1.5 years, a risk free rate of 0.30% and no dividend yield. For the year ended December
31, 2010, $93,462 was recognized as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In February 2011, the Company granted to
the investor relations firm a warrant to purchase 50,000 shares of the Company&rsquo;s common stock at an exercise price of $12.6
per share and the warrants vested immediately. The warrant was valued at $452,000 fair value, with assumed 193.42% volatility,
a five-year expiration term, a risk free rate of 2.30% and no dividend yield. For the year ended December 31, 2011, $452,000 was
recognized as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In early March 2011, the Company granted
to an independent director an option to purchase 12,500 shares of the Company&rsquo;s common stock at an exercise price of $9.16
per share and the options vested immediately. The options were valued at $35,000 fair value, with assumed 64.5% volatility, a three-year
expiration term with expected tenor of 1.49 years, a risk free rate of 0.46% and no dividend yield. For the year ended December
31, 2011, $35,000 was recognized as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In late March 2011, the Company granted
to 3 executive officers options to purchase 1,200,000 shares of the Company&rsquo;s common stock at an exercise price of $4.97
per share and the options are exercisable in equal installments over periods of two years. The options were valued at $4,317,000
fair value, with assumed 77.22% to 94.36% volatility, a four-year expiration term with expected tenors of 2 to 2.49 years, risk
free rates of 0.81% to 1.05% and no dividend yield. For the year ended December 31, 2011, $1,945,000 was recognized as general
and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 82; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 14 &ndash; STOCK-BASED COMPENSATION
&ndash; Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In late March 2011, the Company also granted
to 18 management staff options to purchase 654,000 shares of the Company&rsquo;s common stock at an exercise price of $4.97 per
share and the options are exercisable in equal installments over periods of three years. The options were valued at $2,632,000
fair value, with assumed 77.22% to 118.84% volatility, a four-year expiration term with expected tenors of 2 to 3 years, risk free
rates of 0.81% to 1.29% and no dividend yield. For the year ended December 31, 2011, $706,000 was recognized as general and administrative
expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In early May 2011, the Company granted
to an independent director an option to purchase 12,500 shares of the Company&rsquo;s common stock at an exercise price of $2.93
per share and the option vested immediately. The option was valued at $15,800 fair value, with assumed 79.91% volatility, a four-year
expiration term with expected tenor of 2 years, a risk free rate of 0.57% and no dividend yield. For the year ended December 31,
2011, $15,800 was recognized as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In late June 2011, the Company granted
to an independent director an option to purchase 12,500 shares of the Company&rsquo;s common stock at an exercise price of $3.10
per share and the option vested immediately. The option was valued at $15,200 fair value, with assumed 86.36% volatility, a three-year
expiration term with expected tenor of 1.49 years, a risk free rate of 0.32% and no dividend yield. For the year ended December
31, 2011, $15,200 was recognized as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In late September 2011, the Company and
certain management staff and directors mutually agreed to cancel certain unexercised and all non-vested stock options previously
granted for an aggregate of 1,181,000 shares of the Company&rsquo;s common stock, having exercise prices between $4.97 to $8.25
per share, without consideration. In accordance with ASC 718-20-35-9, &ldquo;Awards Classified as Equity &mdash; Cancellation and
Replacement&rdquo;, the Company accelerated the remaining expense on these cancelled awards that resulted in $4,298,000 recorded
in general and administrative expense for the year ended December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In November 2011, the Company granted to
an independent director an option to purchase 12,500 shares of the Company&rsquo;s common stock at an exercise price of $2.41 per
share and the option vested immediately. The option was valued at $14,400 fair value, with assumed 94.7% volatility, a three-year
expiration term with expected tenor of 1.5 years, a risk free rate of 0.16% and no dividend yield. For the year ended December
31, 2011, $14,400 was recognized as general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes all Company
stock option transactions between January 1, 2009 and December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Number of Option</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Number of Option</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Number of Option</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Range of</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">and Warrants</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">and Warrants</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">and Warrants</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Exercise Price per</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Outstanding</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Non-vested</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Vested</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Common Share</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in; width: 40%">Balance, January 1, 2009</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">325,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">212,500</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">112,500</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">$0.84 - $10.04</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Granted during the year ended December 31, 2009</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">426,471</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">426,471</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">$4.80 - $10.20</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Vested during the year ended December 31, 2009</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(513,970</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">513,970</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">$4.80 - $10.20</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Forfeited or expired during the year ended December 31, 2009</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(250,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(125,001</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(124,999</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">$10.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Balance, December 31, 2009</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">501,471</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">501,471</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">$0.84 - $10.20</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Granted and vested during the year ended December 31, 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">182,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">182,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">$8.25 - $12.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Exercised during the year ended December 31, 2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(225,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(225,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">$1.44 - $8.20</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Balance, December 31, 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">458,971</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">458,971</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">$0.84 - $12.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Granted during the year ended December 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,954,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,954,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">$2.41 - $12.60</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Vested during the year ended December 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(918,000</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">918,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">$2.41 - $12.60</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Exercised during the year ended December 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,500</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,500</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">$0.84&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Forfeited, canceled or expired during the year ended December 31, 2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,256,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,036,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(220,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">$4.80 - $10.43</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in; vertical-align: middle">Balance, December 31, 2011</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,144,471</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,144,471</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">$2.41 - $12.60</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 83; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 14 &ndash; STOCK-BASED COMPENSATION
&ndash; Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="text-align: center; border-bottom: Black 1pt solid">Stock and Warrants Options Outstanding</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Weighted Average</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Weighted Average</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Outstanding</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Remaining</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">Exercise Price of</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">at December 31,</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Range of</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Contractual Life</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">Options Currently</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Exercise Prices</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">(Years)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid">Outstanding</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 30%; text-align: left">Exercisable and&nbsp;outstanding</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">1,144,471</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$&nbsp;</TD><TD STYLE="width: 15%; text-align: right">2.41 - $12.60</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">2.91</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">$&nbsp;</TD>
    <TD STYLE="text-align: center; width: 15%">6.30</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The weighted average grant-date fair values
as at December 31, 2011, 2010 and 2009 were $7.29, $8.83 and $6.84, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At December 31, 2011 and 2010, the aggregate
intrinsic value of the stock options and warrants were $1,382,612 and $75,647, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 15 &ndash; INCOME TAXES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company utilizes the asset and liability
method of accounting for income taxes in accordance with FASB ASC 740-10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United
States</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gulf Resources, Inc. is subject to the
United States of America Tax law at tax rate of 34%. No provision for the US federal income taxes has been made as the Company
had no US taxable income for the years ended December 31, 2011, 2010 and 2009, and management believes that its earnings are permanently
invested in the PRC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BVI</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upper Class Group Limited was incorporated
in the BVI and, under the current laws of the BVI, it is not subject to tax on income or capital gain in the BVI. Upper Class Group
Limited did not generate assessable profit for the years ended 31 December 31, 2011, 2010 and 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong
Kong</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hong Kong Jiaxing Industrial Limited&nbsp;was
incorporated in Hong Kong and is subject to Hong Kong profits tax. The Company is subject to Hong Kong taxation on its activities
conducted in Hong Kong and income arising in or derived from Hong Kong.&nbsp;&nbsp;No provision for profits tax has been made as
the Company has no assessable income for the years.&nbsp;&nbsp;The applicable statutory tax rates for the years ended December
31, 2011, 2010 and 2009 are 16.5%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PRC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Enterprise income tax (&ldquo;EIT&rdquo;)
for SCHC and SYCI in the PRC is charged at 25% of the assessable profits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The operating subsidiaries SCHC and SYCI
are wholly foreign-owned enterprises (&ldquo;FIE&rdquo;) incorporated in the PRC and are subject to PRC Foreign Enterprise Income
Tax Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 22, 2008, the Ministry of Finance
(&ldquo;MOF&rdquo;) and the State Administration of Taxation (&ldquo;SAT&rdquo;) jointly issued Cai Shui [2008] Circular 1 (&ldquo;Circular
1&rdquo;). According to Article 4 of Circular 1, distributions of accumulated profits earned by a FIE prior to January 1, 2008
to foreign investor(s) in 2008 will be exempted from withholding tax (&ldquo;WHT&rdquo;) while distribution of the profit earned
by an FIE after January 1, 2008 to its foreign investor(s) shall be subject to WHT at 5% effective tax rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2011 and 2010, the accumulated
distributable earnings under the Generally Accepted Accounting Principles (&ldquo;GAAP&rdquo;) of PRC are $180,939,187 and $129,201,268,
respectively. Since the Company intends to reinvest its earnings to further expand its businesses in mainland China, its foreign
invested enterprises do not intend to declare dividends to their immediate foreign holding companies in the foreseeable future.
Accordingly, as of December 31, 2011 and 2010, the Company has not recorded any WHT on the cumulative amount of distributable retained
earnings of its foreign invested enterprises in China. As of December 31, 2011 and 2010, the unrecognized WHT are $7,965,999 and
$5,431,616, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 84; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 15 &ndash; INCOME TAXES &ndash; Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The components of the provision for income
taxes from continuing operations are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Years ended December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; text-align: left">Current taxes &ndash; PRC</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">15,972,518</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">18,066,297</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">11,266,564</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Deferred tax &ndash; PRC</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,569,647</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(11,448</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(82,166</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">13,402,871</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">18,054,849</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">11,184,398</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The effective income tax expenses differ
from the PRC statutory income tax rate of 25% from continuing operations in the PRC as follows:-</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Years ended December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; text-align: left">Statutory income tax rate</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">25</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">25</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">25</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Non-taxable items</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1</TD><TD STYLE="text-align: left">)%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Non-deductible items</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">US federal net operating loss</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Effective tax rate</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">26</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">27</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2011 and 2010, the Company
had US federal net operating loss (&ldquo;NOL&rdquo;) of approximately $30 million and $25 million available to offset against
future federal income tax liabilities, respectively.&nbsp;&nbsp;NOL can be carried forward up to 15 years from the year the loss
is incurred. NOL of approximately $12 million will expire at the beginning of 2014. The Company believes the realization of benefits
from these losses remains uncertain due to the Company&rsquo;s limited operating history and continuing losses. Accordingly, a
100% deferred tax asset valuation allowance has been provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Differences between the application of
accounting principles and tax laws cause differences between the bases of certain assets and liabilities for financial reporting
purposes and tax purposes. The tax effects of these differences, to the extent they are temporary, are recorded as deferred tax
assets and liabilities. Significant components of the Company&rsquo;s deferred tax assets and liabilities at December&nbsp;31,
2011 and 2010 are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">As of December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -27pt; padding-left: 27pt">Deferred tax liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -27pt; padding-left: 27pt">Deferred tax assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left; text-indent: -27pt; padding-left: 0.5in">Allowance for obsolete and slow-moving inventories</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,718</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,674</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -27pt; padding-left: 0.5in">Impairment on property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">639,031</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -27pt; padding-left: 0.5in">Exploration costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,797,391</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -27pt; padding-left: 0.5in">Repair and maintenance costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">224,984</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -27pt; padding-left: 0.5in">Property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">81,060</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98,020</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -27pt; padding-left: 0.5in">Property, plant and equipment under capital leases</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,001</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -27pt; padding-left: 0.5in">US federal net operating loss</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10,111,821</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,698,225</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -27pt; padding-left: 27pt">Total deferred tax assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,850,004</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,797,919</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -27pt; padding-left: 27pt">Valuation allowance</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(10,111,821</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(7,698,225</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -27pt; padding-left: 27pt">Net deferred tax asset</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,738,183</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">99,694</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -27pt; padding-left: 27pt">Current deferred tax asset</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">228,702</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">99,694</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -27pt; padding-left: 27pt">Long-term deferred tax asset</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,509,481</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The increase in valuation allowance for
each of the years ended December 31, 2011, 2010 and 2009 is $2,413,596, $1,005,799 and $1,101,800, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There was no unrecognized tax benefits
and accrual for uncertain tax positions as of December 31, 2011 and 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tax returns filed regarding tax years from
2005 through 2011 are subject to review by the respective tax authorities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 85; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 16 &ndash; BUSINESS SEGMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has three reportable segments:&nbsp;&nbsp;bromine,
crude salt and chemical products.&nbsp;&nbsp;The reportable segments are consistent with how management views the markets served
by the Company and the financial information that is reviewed by its chief operating decision maker. The Company manages its sensors
and controls businesses as components of an enterprise for which separate information is available and is evaluated regularly by
the chief operating decision maker in deciding how to allocate resources and assess performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An operating segment&rsquo;s performance
is primarily evaluated based on segment operating income, which excludes share-based compensation expense, certain corporate costs
and other income not associated with the operations of the segment. These corporate costs (income) are separately stated below
and also include costs that are related to functional areas such as accounting, treasury, information technology, legal, human
resources, and internal audit. The Company believes that segment operating income, as defined above, is an appropriate measure
for evaluating the operating performance of its segments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Year Ended</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Crude</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Chemical</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Segment</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">December 31, 2011</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Bromine *</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Salt *</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Products</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Corporate</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 28%; text-align: left">Net revenue (external customers)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">107,849,304</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">15,918,655</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">41,212,494</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">164,980,453</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">164,980,453</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net revenue (intersegment)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,979,826</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,979,826</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,979,826</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income (loss) from operations before taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,023,963</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,688,190</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,237,586</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54,949,739</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,651,281</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,298,458</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,373,961</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,466,421</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,562,489</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,402,871</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,402,871</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income (loss) from operations after taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,650,002</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,221,769</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,675,097</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,546,868</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,651,281</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,895,587</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">160,421,921</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,109,956</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">46,010,276</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">257,542,153</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">785,546</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">258,327,699</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,584,237</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,496,310</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,616,892</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,697,439</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,697,439</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Capital expenditures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,792,502</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,331,308</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,197,331</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,321,141</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,321,141</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Write-off / Impairment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,749,435</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,015,533</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,805,598</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,570,566</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,570,566</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Year Ended</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Crude</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Chemical</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Segment</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">December 31, 2010</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Bromine *</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Salt *</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Products</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Corporate</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 28%; text-align: left">Net revenue (external customers)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">99,211,812</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">14,971,774</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">44,151,437</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">158,335,023</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">158,335,023</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net revenue (intersegment)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,972,997</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,972,997</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,972,997</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income (loss) from operations before taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,474,611</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,360,476</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,218,613</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">72,053,700</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,957,467</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69,096,233</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,943,451</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,040,287</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,071,111</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,054,849</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,054,849</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income (loss) from operations after taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35,531,160</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,320,189</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,147,502</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,998,851</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,957,467</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,051,384</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">128,513,686</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39,696,781</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,153,844</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">206,364,311</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">356,713</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">206,721,024</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,570,660</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,286,253</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,240,236</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,097,149</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,097,149</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Capital expenditures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,458,955</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,712,849</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,483,230</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,655,034</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,655,034</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT><FONT STYLE="color: black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Year Ended</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Crude</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Chemical</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Segment</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1pt solid">December 31, 2009</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Bromine *</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Salt *</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Products</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Corporate</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 28%; text-align: left">Net revenue (external customers)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">63,679,888</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">10,650,698</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">35,946,322</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">110,276,908</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">110,276,908</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net revenue (intersegment)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,073,502</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,073,502</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,073,502</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income (loss) from operations before taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,098,035</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,328,045</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,530,417</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,956,497</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,244,411</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,712,086</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,898,130</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,153,738</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,132,530</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,184,398</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,184,398</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income (loss) from operations after taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,199,905</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,174,307</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,397,887</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,772,099</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,244,411</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,527,688</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96,216,832</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,404,626</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,274,118</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">143,895,576</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,527,592</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">146,423,168</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,182,245</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">866,750</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,150,663</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,199,658</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,199,658</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Capital expenditures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,898,856</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,167,949</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,838,440</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,905,245</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,905,245</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 86; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 16 &ndash; BUSINESS SEGMENTS &ndash;
Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 8.4pt; text-align: justify; text-indent: -8.4pt">* Certain
common production overheads, operating and administrative expenses and asset items (mainly cash and certain office equipment) of
bromine and crude salt segments in SCHC were split by reference to the average selling price and production volume of respective
segment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Years ended December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid">Reconciliations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; text-align: left">Total segment operating income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">54,949,739</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">72,053,700</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">44,956,497</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Corporate costs</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(10,651,281</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,957,467</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,244,411</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Income from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">44,298,458</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69,096,233</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,712,086</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">57,173</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">241,936</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">63,727</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Income before taxes</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">44,355,631</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">69,338,169</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">41,775,813</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table shows the major customer(s)
(10% or more) for the year ended December&nbsp;31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Chemical</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Percentage of</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Bromine</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Crude Salt</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Products</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Revenue</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Customer</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(000&rsquo;s)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(000&rsquo;s)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(000&rsquo;s)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(000&rsquo;s)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Revenue&nbsp;(%)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: center; padding-bottom: 1pt; vertical-align: top">1</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-align: left">Shandong Morui Chemical Company Limited</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,864</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,020</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,663</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">19,547</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11.9</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">TOTAL</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 23%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">$</TD><TD STYLE="text-align: right; width: 10%">13,864</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">$</TD><TD STYLE="text-align: right; width: 10%">3,020</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">$</TD><TD STYLE="text-align: right; width: 10%">2,663</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">$</TD><TD STYLE="text-align: right; width: 10%">19,547</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 10%">11.9</TD><TD STYLE="text-align: left; width: 1%">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table shows the major customer(s)
(10% or more) for the year ended December 31, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Chemical</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Percentage of</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Bromine</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Crude Salt</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Products</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Revenue</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Customer</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(000&rsquo;s)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(000&rsquo;s)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(000&rsquo;s)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(000&rsquo;s)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Revenue&nbsp;(%)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-decoration: none; text-align: center; padding-bottom: 1pt; vertical-align: top">1</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-align: left">Shouguang City Rongyuan Chemical Company Limited</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">13,106</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,634</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">16,740</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10.6</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">TOTAL</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 23%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">$</TD><TD STYLE="text-align: right; width: 10%">13,106</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">$</TD><TD STYLE="text-align: right; width: 10%">3,634</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">$</TD><TD STYLE="text-align: right; width: 10%">-</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">$</TD><TD STYLE="text-align: right; width: 10%">16,740</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 10%">10.6</TD><TD STYLE="text-align: left; width: 1%">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table shows the major customer(s)
(10% or more) for the year ended December&nbsp;31, 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Chemical</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Percentage of</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Bromine</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Crude Salt</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Products</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Revenue</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Customer</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(000&rsquo;s)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(000&rsquo;s)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(000&rsquo;s)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">(000&rsquo;s)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Revenue&nbsp;(%)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: center; vertical-align: top">1</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">Shandong Morui Chemical Company Limited</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,533</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,940</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11,473</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.4</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-decoration: none; text-align: center; padding-bottom: 1pt; vertical-align: top">2</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; text-align: left">Shouguang City Rongyuan Chemical Company Limited</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,448</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,991</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,439</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10.4</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: center; width: 9%">TOTAL</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 23%">&nbsp;</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">$</TD><TD STYLE="text-align: right; width: 10%">18,981</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">$</TD><TD STYLE="text-align: right; width: 10%">3,931</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">$</TD><TD STYLE="text-align: right; width: 10%">-</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">$</TD><TD STYLE="text-align: right; width: 10%">22,912</TD><TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 1%">&nbsp;</TD><TD STYLE="text-align: right; width: 10%">20.8</TD><TD STYLE="text-align: left; width: 1%">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 17 &ndash; MAJOR SUPPLIERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the year ended December 31, 2011,
the Company purchased 80.7% of its raw materials from its top five suppliers. At December 31, 2011, amounts due to those suppliers
included in accounts payable were $2,883,384.&nbsp;&nbsp;During the year ended December 31, 2010, the Company purchased 89.1% of
its raw materials from its top five suppliers.&nbsp;&nbsp;At December 31, 2010, amounts due to those suppliers included in accounts
payable were $5,126,619.&nbsp;&nbsp;During the year ended December 31, 2009, the Company purchased 49.5% of its raw materials from
its top five suppliers.&nbsp;&nbsp;At December 31, 2009, amounts due to those suppliers included in accounts payable were $4,016,890.
This concentration makes the Company vulnerable to a near-term severe impact, should the relationships be terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 87; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 18 &ndash; CUSTOMER CONCENTRATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company sells a substantial portion
of its products to a limited number of customers. During the year ended December 31, 2011, the Company sold 42.2% of its products
to its top five customers.&nbsp;&nbsp;At December 31, 2011, amount due from these customers was $9,933,995.&nbsp;During the year
ended December 31, 2010, the Company sold 41.7% of its products to its top five customers. At December 31, 2010, amount due from
these customers were $10,226,812. During the year ended December 31, 2009, the Company sold 40.1% of its products to its top five
customers. At December 31, 2009, amount due from these customers were $5,449,638. This concentration makes the Company vulnerable
to a near-term severe impact, should the relationships be terminated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 19 &ndash; FAIR VALUE OF FINANCIAL
INSTRUMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying values of financial instruments,
which consist of cash, accounts receivable and accounts payable and other payables, approximate their fair values due to the short-term
nature of these instruments.&nbsp;&nbsp;There were no material unrecognized financial assets and liabilities as of December 31,
2011 and 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NOTE 20 &ndash;RESEARCH AND DEVELOPMENT EXPENSES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 6, 2007, SYCI and East China
University of Science and Technology formally opened a Co-Op Research and Development Center. The research center is equipped with
state of the art chemical engineering instruments for the purpose of pursuing targeted research and development of refined bromide
compounds and end products. According to the Co-Op Research Agreement, any research achievement or patents will become assets of
the Company. Originally, the Company will provide $500,000 annually until June 2012 to East China University of Science and Technology
for research. On June 7, 2011, the Company and East China University of Science and Technology mutually agreed to terminate the
Co-op Research Agreement due to the successful completion of the cooperative research and development tasks related to the development
of bromine-related chemical products for the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since the second quarter of 2010, SYCI
conducted research for the new production line of wastewater treatment additives, the purpose of which is for the testing of the
manufacturing routine and samples. The new production line was started operation and normal production in April 2011. However,
the Company switched the aforesaid production line to the production of pharmaceutical and agricultural chemical intermediates
in mid-June 2011 as the Company experienced some technological limitations on extraction purity, which lead to a lower than expected
gross margin for wastewater treatment chemical additives. The research and development expense incurred for the new production
line of wastewater treatment additives from outside parties and the consumption of bromine produced by the Company during the year
ended December 31, 2011 were $56,286 and $105,739, respectively. The research and development expense incurred for the new production
line of wastewater treatment additives from outside parties and the consumption of bromine produced by the Company during the year
ended December 31, 2010 were $847,919 and $848,990, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The total research and development expense
recognized in the income statements during the years ended December 31, 2011, 2010 and 2009 were $398,842, $2,200,291 and $500,406,
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 21 &ndash; REVERSE STOCK SPLIT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A reverse stock split of the issued and
outstanding shares of the Company's common stock was effected on the basis of one share for every four shares of common stock and
was approved by the Board of Directors and shareholders owning a majority of the outstanding shares of the Company&rsquo;s common
stock and became effective on October 12, 2009. All shares and per share data (except par value) have been adjusted to reflect
the effect of the stock split for all periods presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 22 &ndash; CAPITAL COMMITMENT AND
OPERATING LEASE COMMITMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">As
of December 31, 2011, the</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Company has leased a real property adjacent
to Factory No. 1, with the related production facility, channels and ducts, other production equipment and the buildings located
on the property, under capital lease. The future minimum lease payments required under capital lease, together with the present
value of such payments, are included in the table show below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has leased five pieces of land
under non-cancelable operating leases, which are fixed in rentals and expired through December 2030, December 2040, February 2059,
August 2059 and June 2060, respectively. The Company accounts for the leases as operating leases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has no purchase commitment
as of December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 88; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 22 &ndash; CAPITAL COMMITMENT AND
OPERATING LEASE COMMITMENTS &ndash; Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table sets forth the Company&rsquo;s
contractual obligations as of December 31, 2011:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Capital Lease</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Operating Lease</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Purchase</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Obligations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Obligations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Obligations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Payable within:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 55%; padding-left: 9pt">the next 12 months</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">297,899</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">590,037</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">the next 13 to 24 months</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">297,898</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">640,837</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">the next 25 to 36 months</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">297,899</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">645,177</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">the next 37 to 48 months</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">297,898</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">649,681</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">the next 49 to 60 months</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">297,899</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">654,316</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">thereafter</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,170,582</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18,009,119</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">$</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">5,660,075</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">21,189,167</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less: Amount representing interest</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,433,775</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Present value of net minimum lease payments</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,226,300</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Rental expenses related to operating leases
of the Company amounted to $583,123, $104,940 and $42,102 were charged to the income statements for the years ended December 31,
2011, 2010 and 2009, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 23 &ndash; LEGAL PROCEEDINGS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Lock-up Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company settled litigation in connection
with 5,250,000 shares of the Company&rsquo;s Common Stock (the &ldquo;Shares&rdquo;) pledged as collateral for certain loans from
War Chest Capital Multi-Strategy Fund LLC, War Chest Capital Partners, LLC and/or a War Chest related entity (collectively, &ldquo;War
Chest&rdquo;) to Top King Group Limited (&ldquo;Top King&rdquo;), Billion Gold Group Limited (&ldquo;Billion Gold&rdquo;), and
Topgood International Limited (&ldquo;Topgood&rdquo;) (collectively, the &ldquo;Holders&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the Amendment Agreement
dated January 24, 2009 by and among the Company, SCHC, China Finance, Inc., Shenzhen Hua Yin Guaranty and Investment Limited Liability
Corporation (the &ldquo;Shenzhen Hua Yin&rdquo;) and the Holders, the Company entered into a Lock-up Agreement dated as of May
10, 2009 (the &ldquo;Lock-up Agreement&rdquo;) with the Holders and the following shareholders of the Company: Ming Yang, the Company&rsquo;s
Chairman, Wenxiang Yu, the wife of Mr. Yang, Zhi Yang, the son of Mr. Yang and Ms. Yu and Shandong Haoyuan Industry Group Ltd.,
of which Mr. Yang is the controlling shareholder, chief executive officer and a director (each a &ldquo;Shareholder&rdquo; and
collectively, the &ldquo;Shareholders&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the Lock-up Agreement, the Holders
and Shareholders agreed that they have not and will not sell in a public transaction on the Over the Counter Bulletin Board or
on a national stock exchange, as the case may be, any shares of the Company&rsquo;s common stock that the Holders and Shareholders
presently own or may acquire on or after May 10, 2009 (the &ldquo;Lock-Up Shares&rdquo;) during the period commencing on May 10,
2009 and expiring on March 9, 2011 (the &ldquo;Lock-up Period&rdquo;). However, each Holder and Shareholder has a right, solely
in a private transaction, to assign, trade, transfer, hypothecate, or pledge the Lock-Up Shares, provided that in the case of a
proposed private transaction by a Holder: (i) the Holder complies with the provision of a right of first refusal; and (ii) the
transferee in such private transaction, agrees to enter into the Lock-up Agreement prior to the Lock-Up Shares being transferred
to them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, subject to compliance with
Rule 144 under the Securities Act of 1933 (&ldquo;Rule 144&rdquo;), each Holder further agreed in each month of the next twelve
months following the Lock-up Period not to transfer shares of the Company&rsquo;s common stock in an amount greater than two percent
(2%) of the total shares of the Company&rsquo;s common stock issued and outstanding in a public transaction, and each Shareholder
further agreed in each month of the next twelve months following the Lock-up Period not to transfer shares of the Company&rsquo;s
common stock in an amount greater than one percent (1%) of the total shares of Common Stock issued and outstanding of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In March of 2010, the Company&rsquo;s
legal counsel was contacted by the Holders&rsquo; legal counsel with a request that the Holders be allowed to pledge the Shares
to War Chest as part of a loan transaction (the &ldquo;Loan&rdquo;). On March 11, 2010, War Chest&rsquo;s legal counsel provided
a letter confirming that War Chest agreed to abide by the terms of the Lock-up Agreement with respect to the Shares. The Company
believes that on or about March 17, 2010 the Shares were transferred from the name of the Holders to War Chest as collateral for
the Loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 89; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 23 &ndash; LEGAL PROCEEDINGS &ndash;
Continued</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on a Form 3 filed by HAP Trading,
LLC (&ldquo;HAP&rdquo;) with the Securities and Exchange Commission (&ldquo;SEC&rdquo;) on November 10, 2010, the Company understood
that, at least as of that date, HAP held a European Call FLEX Option on the Shares (&ldquo;Option&rdquo;). The Option permitted
HAP to purchase a total of 5,730,000 shares of Gulf Resources stock (representing approximately 15% of the total outstanding shares
of such stock) for $0.125 each. Based on discussions with War Chest&rsquo;s legal counsel, the Company was informed that War Chest
had used the Shares to create the Option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">After seeking&mdash;and not receiving&mdash;written
assurances from War Chest that it did not intend to violate the Lockup Agreement, the Company commenced a litigation against War
Chest and HAP by filing a Summons and Complaint in the Supreme Court of the State of New York, New York County, on January 20,
2011. The Summons and Complaint alleges that the Shares are subject to the Lockup Agreement and that War Chest and HAP are bound
by the terms of the Lockup Agreement. The lawsuit seeks a court order prohibiting the sale or transfer of the Shares in violation
of the Lockup Agreement, attorney&rsquo;s fees, and other relief.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 26, 2011, HAP filed a Form 4
with the SEC disclosing that it had exercised the Option on February 21, 2011 and had taken possession of the Shares. On February
15, 2011, HAP filed an additional Form 4/A disclosing that it had sold 280,000 shares of Gulf Resources common stock on February
15, 2011 at $9.28 per share, and an additional 372,809 shares at $9.358 in &ldquo;open market stock sales during the period 01/26/2011
to 02/15/2011&rdquo;. The form indicates that as of February 15, 2011, HAP was beneficial owner of only 4,917,046 shares of Gulf
Resources common stock, and it also indicates that HAP has purchased an additional Call Option to purchase 699,900 shares of Gulf
Resources Common stock at $10 per share, exercisable from February 15, 2011 through April 15, 2011. On February 14, 2011 HAP filed
a Motion to Dismiss the Company&rsquo;s complaint as to HAP only.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of May 6, 2011, all parties to the litigation
entered into a settlement agreement resolving the litigation in its entirety. The terms of the settlement are confidential. The
parties have fulfilled all necessary obligations under the settlement agreement, and the litigation (including HAP&rsquo;s formerly
pending motion) has been dismissed by stipulation of all parties, with prejudice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Class Action</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company and certain of its officers
and directors (Ming Yang, Xiaobin Liu, and Min Li, collectively, the &ldquo;Individual Defendants&rdquo;) have been named as defendants
in a putative securities class action lawsuit alleging violations of the federal securities laws.&nbsp;&nbsp;That action, which
is now captioned<I> Lewy, et al. v. Gulf Resources, Inc., et al.</I>, No. 11-cv-3722 ODW (MRWx), was filed on April 29, 2011 in
the United States District Court for the Central District of California.&nbsp;&nbsp;The lead plaintiffs, who seek to represent
a class of all purchasers and acquirers of the Company&rsquo;s common stock between March 16, 2009 and April 26, 2011 inclusive,
filed an amended complaint on September 12, 2011.&nbsp;&nbsp;Lead plaintiffs assert claims for violations of Section 10(b) of the
Securities Exchange Act of 1934, and Rule 10b-5 thereunder.&nbsp;&nbsp;The amended complaint alleges the defendants made false
or misleading statements in the Company&rsquo;s Annual Reports on Form 10-K for the years ended December 31, 2008, 2009, and 2010,
and in interim quarterly reports by, among other things, overstating revenue and net income and failing to disclose material related
party transactions and certain facts about the CEO&rsquo;s prior employment at another company.&nbsp;&nbsp;The amended complaint
also asserts claims against the Individual Defendants for violations of Section 20(a) of the Securities Exchange Act of 1934. The
amended complaint seeks damages in an unspecified amount. On November 7, 2011, the Company filed a&nbsp;motion to&nbsp;dismiss
the amended complaint.&nbsp;On December 30, 2011, lead plaintiffs filed an opposition to the Company&rsquo;s motion to dismiss
the amended complaint. The Company filed a reply in further support of its motion to dismiss on February 6, 2012. In response to
the Company&rsquo;s reply in further support of its motion to dismiss, lead plaintiffs filed an objection on February 17, 2012,
to certain documents filed by the Company in support of its motion to dismiss. The Company opposed the objection on February 22,
2012, to which lead plaintiffs replied in further support of their objection on February 23, 2012. The Court has not yet ruled
on the motion to dismiss nor the objections raised by lead plaintiffs. The Company intends to defend vigorously against the lawsuit.&nbsp;&nbsp;The
Company currently cannot estimate the amount or range of possible losses from this litigation.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The legal costs incurred for the year ended
December 31, 2011 in connection with the above legal cases amounted to $592,576, which was included in the income statements as
general and administrative expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NOTE 24 &ndash; SUBSEQUENT EVENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management has evaluated subsequent events
from December 31, 2011 to the date which our financial statements have been issued and were available to be issued, and has concluded
that no material subsequent events have occurred since December 31, 2011 that required recognition or disclosure in our current
year financial statements. Subsequent events that may occur after the date of issue of financial statements have not been evaluated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 90; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">SCHEDULE I &ndash; PARENT ONLY FINANCIAL
INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following presents condensed parent
company only financial information of Gulf Resources, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Condensed Balance Sheets</U></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1pt solid">As of December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Unaudited</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Current Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left; padding-bottom: 1pt">Prepayments and deposits</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">307,600</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Current Assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">307,600</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Non-Current Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Interests in subsidiaries</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">192,636,852</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">139,936,042</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Amounts due from group companies</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">52,494,771</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">54,372,933</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total non-current assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">245,131,623</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">194,308,975</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total Assets</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">245,439,223</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">194,308,975</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Liabilities and Stockholders&rsquo; Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Current Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other payables and accrued expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,036,513</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">507,917</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Amounts due to group companies</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,289,954</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,115,864</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total Liabilities</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,326,467</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,623,781</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Stockholders&rsquo; Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-&nbsp;</TD><TD STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">COMMON STOCK; $0.0005 par value; 100,000,000 shares authorized; 34,745,342 and 34,735,912 shares issued; and 34,560,743 and 34,735,912 shares outstanding as of December 31, 2011 and 2010, respectively</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,373</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,368</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Treasury stock; 184,599 shares as of December 31, 2011 at cost</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(500,000</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">74,107,979</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">66,626,584</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Retained earnings unappropriated</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">133,314,581</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">106,500,085</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Retained earnings appropriated</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,409,557</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,271,293</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Cumulative translation adjustment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21,763,266</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,269,864</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Total Stockholders&rsquo; Equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">243,112,756</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">192,685,194</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total Liabilities and Stockholders&rsquo; Equity</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">245,439,223</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">194,308,975</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Condensed Statements of Income&nbsp;</U></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">Years Ended December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Unaudited</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Unaudited</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">OPERATING (EXPENSES) INCOME</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left; padding-left: 9pt">General and administrative expenses</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(9,552,707</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(2,957,467</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(3,240,497</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Other operating income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">300,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">TOTAL OPERATING EXPENSES</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(9,252,707</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,957,467</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,240,497</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">OTHER EXPENSES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Interest expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,941</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(764</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">TOTAL OTHER EXPENSES</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,941</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(764</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">TOTAL EXPENSES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,254,648</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,958,231</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,240,497</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Equity in net income of subsidiaries</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">40,207,408</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">54,241,551</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">33,831,912</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">INCOME BEFORE TAXES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,952,760</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,283,320</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,591,415</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">INCOME TAXES</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">NET INCOME</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,952,760</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">51,283,320</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,591,415</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 91; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Condensed Statements of Cash Flows</U></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">Years Ended December 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Unaudited</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Unaudited</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">CASH FLOWS FROM OPERATING ACTIVITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left">Net income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">30,952,760</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">51,283,320</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">30,591,415</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Adjustments to reconcile net income to net cash provided by operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Equity earnings in unconsolidated subsidiaries</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(40,207,408</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(54,241,551</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(33,831,912</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Stock-based compensation expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,481,400</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,282,428</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,022,240</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Changes in assets and liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Prepayment and deposits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(307,600</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Other payables and accrued expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">528,596</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">201,800</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(964,564</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash used in operating activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,552,252</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,474,003</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,182,821</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">CASH FLOWS FROM FINANCING ACTIVITIES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Repurchase of common stock</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(500,000</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Proceeds from private placement</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,192,920</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,307,142</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Proceeds from exercising stock options</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Advances from / (to) group companies</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,052,252</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(736,917</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(19,124,299</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Net cash provided by financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,552,252</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,474,003</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,182,821</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">NET INCREASE IN CASH AND CASH EQUIVALENTS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">CASH AND CASH EQUIVALENTS - END OF YEAR</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify"><U>Basis of presentation</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In the condensed parent-company-only
financial statements, the Company&rsquo;s investment in subsidiaries is stated at cost plus equity in undistributed earnings of
subsidiaries since the date of acquisition. The Company&rsquo;s share of net income of its subsidiaries is included in condensed
statements of income using the equity method. These condensed parent-company-only financial statements should be read in connection
with the consolidated financial statements and notes thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">As of December 31, 2011, the
Company itself has no purchase commitment, capital commitment and operating lease commitment for the condensed parent-company-only
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify"><U>Restricted Net Assets</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Schedule I of Article 5-04 of
Regulation S-X requires the condensed financial information of registrant shall be filed when the restricted net assets of consolidated
subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. For purposes
of the above test, restricted net assets of consolidated subsidiaries shall mean that amount of the registrant&rsquo;s proportionate
share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal
year may not be transferred to the parent company by subsidiaries in the form of loans, advances or cash dividends without the
consent of a third party (i.e., lender, regulatory agency, foreign government, etc.).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The condensed parent company
financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X as the restricted net assets
of the subsidiaries of Gulf Resources, Inc. exceed 25% of the consolidated net assets of Gulf Resources, Inc. The ability of the
Company&rsquo;s Chinese operating subsidiaries to pay dividends may be restricted due to the foreign exchange control policies
and availability of cash balances of the Chinese operating subsidiaries. Because a significant portion of the Company&rsquo;s operations
and revenues are conducted and generated in China, a significant portion of the revenues being earned and currency received are
denominated in RMB. RMB is subject to the exchange control regulation in China, and, as a result, the Company may be unable to
distribute any dividends outside of China due to PRC exchange control regulations that restrict the Company&rsquo;s ability to
convert RMB into US Dollars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 92; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">S-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9. Changes in and Disagreements With Accountants on
Accounting and Financial Disclosure.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Previous Independent Accountants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 8, 2011, we dismissed BDO Limited
(&ldquo;BDO&rdquo;) as our principal independent accountant. BDO was engaged by us on February 10, 2010. The decision to dismiss
BDO as our independent accountant was approved by our Audit Committee on December 8, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have had no disagreements with BDO on
any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, within the period
from BDO&rsquo;s engagement and through the fiscal year ended December 31, 2010 and subsequently up to the date of dismissal which
disagreements that, if not resolved to BDO&rsquo;s satisfaction, would have caused BDO to make reference to the subject matter
of the disagreement in connection with its report issued in connection with the audit of our financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">None of the reportable events described
under Item 304(a)(1)(v)(A)-(D) of Regulation S-K occurred within the period from BDO&rsquo;s engagement and through the fiscal
year of the Company ended December 31, 2010 and subsequently up to the date of dismissal except for the following: as described
in BDO&rsquo;s annual report dated March 16, 2011 on our internal control over financial reporting included in the Company&rsquo;s
Form 10-K for the year ended December 31, 2010, in BDO&rsquo;s opinion the Company had not maintained effective internal control
over financial reporting as of December 31, 2010 based on criteria established in <I>Internal Control &ndash; Integrated Framework</I>
issued by the Committee of Sponsoring Organizations of the Treadway Commission. We agreed with BDO&rsquo;s report on the point
that there was a weakness in our internal control and concluded that we did not maintain, in all material respects, effective internal
control over financial reporting as of December 31, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BDO&rsquo;s audit reports on financial
statements for the fiscal years ended December 31, 2009 and December 31, 2010 of the Company contained no adverse opinion or disclaimer
of opinion, nor was it qualified or modified as to uncertainty, audit scope or accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We provided BDO with a copy of this disclosure
before its filing with the SEC, providing BDO with the opportunity to furnish us with a letter addressed to the SEC containing
any new information, clarification of our expression of its views, or the respect in which BDO does not agree with the above statements.
A copy of such letter from BDO dated December 8, 2011 has been filed as an Exhibit to our current report on Form 8-K filed with
the SEC on December 14, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>New Independent Accountants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">On
December 8, 2011, we engaged Morison Cogen LLP (&quot;MC&quot;) to serve as our independent registered accounting firm. The decision
to engage MC as our principal independent accountant was approved by our Audit Committee on December 8, 2011.</FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif">MC
was previously engaged as our independent principal accountant as of and during the fiscal years ended December 31, 2007, 2008
and 2009 and for the subsequent interim period ended February 9, 2010. Due to the engagement of BDO on February 10, 2010, MC did
not perform an audit of our financial statements for the fiscal year ended December 31, 2009.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the period of MC&rsquo;s prior engagement
(i) there were no disagreements with MC on any matter of accounting principles or practices, financial statement disclosure, or
auditing scope or procedures, which disagreements, if not resolved to MC&rsquo;s satisfaction, would have caused MC to make reference
in connection with its opinion to the subject matter of the disagreement, and (ii) there were no &ldquo;reportable events,&rdquo;
as that term is described in Item 304(a)(1)(v) of Regulation S-K except for the following: as described in MC&rsquo;s annual report
dated March 12, 2009 on our internal control over financial reporting included in the Company&rsquo;s Form 10-K for the year ended
December 31, 2008, that in MC&rsquo;s opinion we had not maintained effective internal control over financial reporting as of December
31, 2008 based on criteria established in <I>Internal Control &ndash; Integrated Framework</I> issued by the Committee of Sponsoring
Organizations of the Treadway Commission. Although we agreed with MC&rsquo;s report on the point that there was a weakness in our
internal control, management did not believe the weakness was material and concluded that our internal control over financial reporting
was effective as of December 31, 2008.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Audit Committee discussed with MC its
opinion that we had not maintained effective internal controls over financial reporting as of December 31, 2008. In addition, we
have authorized MC to respond fully to the inquiries of MC&rsquo;s successor accountant concerning such opinion. An amendment to
a current report on Form 8-K was filed on March 23, 2010 to disclose the matters in connection with MC&rsquo;s dismissal on February
9, 2011 and is hereby incorporated by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the period commencing February 10,
2010, when BDO was engaged by us as its independent principal accountant, until December 8, 2011 when MC was re-engaged in such
capacity, we did not consult with MC regarding (i) the application of accounting principles to a specific completed or proposed
transaction, or the type of audit opinion that might be rendered on our consolidated financial statements and no written or oral
advice was provided by MC that was an important factor considered by us in reaching a decision as to the accounting, auditing or
financial reporting issue or (ii) any matter that was either the subject of a disagreement or event as set forth in Item 304(a)(1)(iv)
or Item 304(a)(1)(v) of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Page; Sequence: 93; Options: NewSection; Value: 58 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 9A. Controls and Procedures.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Evaluation of Disclosure Controls
and Procedure</I></B> &nbsp;&nbsp;We maintain &ldquo;disclosure controls and procedures&rdquo;, as such term is defined under Exchange
Act Rule 13a-15(e), that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded,
processed, summarized, and reported within the time periods specified in the SEC&rsquo;s rules and forms, and that such information
is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate,
to allow timely decisions regarding required disclosures. In designing and evaluating the disclosure controls and procedures, our
management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance
of achieving the desired control objectives and in reaching a reasonable level of assurance our management necessarily was required
to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures. We have carried out an evaluation
as required by Rule 13a-15(d) under the supervision and with the participation of our management, including our Chief Executive
Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures
as of December 31, 2011. Based upon their evaluation and the identification of two material weaknesses in our internal control
over financial reporting, as further discussed below under &ldquo;Management&rsquo;s Report on Internal Control over Financial
Reporting&rdquo;, the Chief Executive Officer and Chief Financial Officer concluded that, as of December 31, 2011, the Company
did not maintain, in all material respect, effective disclosure controls and procedures in timely alerting it to material information
to be disclosed in its periodic reports under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Management&rsquo;s Report on Internal
Control over Financial Reporting</I></B> &nbsp;Our management is responsible for establishing and maintaining adequate internal
control over financial reporting, as such term is defined in Exchange Act Rules 13a-15(f) and 15d-15(f). Internal control over
financial reporting refers to the process designed by, or under the supervision of, our principal executive officer and principal
financial officer, and effected by our Board of Directors, management and other personnel, to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles, and includes those policies and procedures that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">(1)</TD>
    <TD STYLE="width: 97%; text-align: justify">Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">(2)</TD>
    <TD STYLE="width: 97%; text-align: justify">Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorization of our management and directors; and</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">(3)</TD>
    <TD STYLE="width: 97%; text-align: justify">Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisitions, use or disposition of our assets that could have a material effect on the financial statements.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Internal control over financial reporting
cannot provide absolute assurance of achieving financial reporting objectives because of its inherent limitations. Internal control
over financial reporting is a process that involves human diligence and compliance and is subject to lapses in judgment and breakdowns
resulting from human failures. Internal control over financial reporting also can be circumvented by collusion or improper management
override. Because of such limitations, there is a risk that material misstatements may not be prevented or detected on a timely
basis by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting
process. Therefore, it is possible to design into the process safeguards to reduce, though not eliminate, this risk. Management
is responsible for establishing and maintaining adequate internal control over financial reporting for the company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management has used the framework set forth
in the report entitled <I>Internal Control&mdash;Integrated Framework</I> published by the Committee of Sponsoring Organizations
of the Treadway Commission, known as COSO, to evaluate the effectiveness of our internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A material weakness is a deficiency, or
a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a
material misstatement of the Company&rsquo;s annual or interim financial statements will not be prevented or detected on a timely
basis. Management has concluded that the Company had the following material weaknesses:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Improper accounting treatment for translation loss on intercompany payable, denominated in a foreign
currency, due to a subsidiary; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Failure to maintain effective controls over the identification of related parties and the disclosure
of related party transactions in the Company&rsquo;s consolidated financial statements.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the preparation of our financial
statements contained in this Annual Report, the auditor identified that short-term borrowings in USD from and settlements to Jiaxing
Lighting Appliance Company Limited (&ldquo;Jiaxing Lighting&rdquo;) during the fiscal year 2011 are related party transactions
as Mr. Ming Yang, a shareholder and the Chairman of the Company, had a 100% interest in Jiaxing Lighting. The Chairman explained
that the short-term borrowings in USD were used to fulfill daily operating expenses denominated in USD as the procedures to convert
RMB take times where most of our cash balances are denominated in RMB, and that the short-term borrowings were fully settled in
short period of time in either RMB or USD. Management concluded that the subject transactions had no impact on the Company as a
whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the preparation of our financial
statements contained in this Annual Report, the auditor also identified that a certain translation loss on an intercompany payable
due to a subsidiary for a short-term borrowing was included improperly in our Statements of Comprehensive Income, which should
have been charged to the Statements of Income instead. After this incident was identified, management further investigated all
intercompany translations during the fiscal year 2011 and concluded that no similar incidents occurred.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 94; Value: 58 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accordingly, management concluded that
the Company did not maintain, in all material respects, effective internal control over financial reporting as of December 31,
2011 because of two material weaknesses as stated above. As a result of this conclusion, management started to formulate and implement
a program to remedy the material weaknesses described above. We also expect to increase the areas to be reviewed and discussed
with the Board of Directors. As of the date of this report, we have taken the following steps to continue to improve our internal
control over financial reporting:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><FONT STYLE="font: 8pt Wingdings 2">&tilde;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify">We will continue to educate our management personnel to comply with the related party disclosure requirements of the Exchange Act and Regulation S-K; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-family: Wingdings"><FONT STYLE="font: 8pt Wingdings 2">&tilde;</FONT></TD>
    <TD STYLE="text-align: justify">We will increase management oversight to timely report any related party transactions and the translation gain or loss on intercompany balances in the future.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Attestation Report of the Registered
Public Accounting Firm </I></B>&nbsp;See Page F-2 of this Form 10-K for the Report of Independent Registered Public Accounting
Firm, Morison Cogen LLP, on our effectiveness of internal control over financial reporting as of December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Changes in Internal Control Over
Financial Reporting</I></B> We have implemented the following steps during our most recently completed fiscal quarter to improve
our internal control over financial reporting to address the material weaknesses as mentioned for the three-month period ended
September 30, 2011:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"><FONT STYLE="font: 8pt Wingdings 2">&tilde;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify">Provided several ongoing training courses in U.S. GAAP to our existing accounting department personnel, including our CFO.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There have not been other changes in our
internal control over financial reporting (as such term is defined in Rules 13a-15(f) under the Exchange Act) during our most recently
completed fiscal quarter which is the subject of this report&nbsp;that have materially affected, or are reasonably likely to materially
affect, our internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9B.&nbsp;&nbsp;Other Information.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PART III</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are incorporating by reference the information
required by Part&nbsp;III of this report on Form&nbsp;10-K from our proxy statement relating to our 2012 annual meeting of stockholders
(the &ldquo;2012 Proxy Statement&rdquo;), which will be filed with the Securities and Exchange Commission within 120&nbsp;days
after the end of our fiscal year ended December&nbsp;31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 10.&nbsp;&nbsp;Directors and Executive Officers
and Corporate Governance.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information required by this item is
included under the captions &ldquo;Election of Directors&nbsp;&mdash; Nominees,&rdquo; &ldquo;Information Concerning Executive
Officers&rdquo; and &ldquo;Section&nbsp;16(a) Beneficial Ownership Reporting Compliance&rdquo; in the 2012 Proxy Statement and
incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 11.&nbsp;&nbsp;Executive Compensation.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information required by this item is
included under the captions &ldquo;Election of Directors&nbsp;&mdash; Compensation of Non-Employee Directors,&rdquo; &ldquo;Election
of Directors&nbsp;&mdash; Compensation Committee Interlocks and Insider Participation,&rdquo; &ldquo;Compensation Discussion and
Analysis,&rdquo; and &ldquo;Compensation Committee Report&rdquo; in the 2012 Proxy Statement and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 12.&nbsp;&nbsp;Security Ownership of Certain
Beneficial Owners and Management and Related Stockholder Matters.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information required by this item is
included under the captions &ldquo;Security Ownership of Certain Beneficial Owners and Management&rdquo; and &ldquo;Equity Compensation
Plan Information&rdquo; in the 2012 Proxy Statement and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 13.&nbsp;&nbsp;Certain Relationships and Related
Transactions, and Director Independence.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information required by this item is
included under the captions &ldquo;Certain Relationships and Related Person Transactions, and Director Independence&rdquo; and
&ldquo;Election of Directors&nbsp;&mdash; Board Meetings and Committees&rdquo; in the 2012 Proxy Statement and incorporated herein
by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 14.&nbsp;&nbsp;Principal Accounting Fees and
Services.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information required by this item is
included under the caption &ldquo;Audit Committee Report&rdquo; in the 2012 Proxy Statement and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 95; Value: 58 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PART IV</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 15.&nbsp;&nbsp;Exhibits and Financial Statement Schedules.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B><I>(a)</I></B></TD><TD STYLE="text-align: justify"><B><I>Financial Statements and Schedules</I></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">Financial Statements &ndash; The financial statements filed as part of this filing are listed on
the index to the Financial Statements and Supplementary Data, Item 8 of Part II, on page F-1.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">Financial Statement Schedules &ndash; &ldquo;Schedule I &ndash; Parent Only Financial Information&rdquo;
filed as part of this filing is listed on the Financial Statements and Supplementary Data, Item 8 of Part II, on pages S-1 and
S-2. All other financial statement schedules have been omitted because they are not applicable, or the information required is
set forth in the Consolidated Financial Statements or related notes thereto.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B><I>(b)</I></B></TD><TD STYLE="text-align: justify"><B><I>Exhibit Index</I></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%">2.1</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 86%">Agreement and Plan of Merger dated December 10, 2006, among the Registrant, DFAX Acquisition vehicle, Inc., Upper Class Group Limited and the shareholders of UCG, incorporated herein by reference to Exhibit 10 to the Registrant's Current Report on Form 8-K filed on December 12, 2007.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.2</TD>
    <TD>&nbsp;</TD>
    <TD>Share Exchange Agreement among the Registrant, Upper Class Limited, Shouguang Yuxin Chemical Industry Company Limited and shareholders of Shouguang Yuxin Chemical Industry Company Limited, incorporated herein by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed on February 9, 2007.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.1</TD>
    <TD>&nbsp;</TD>
    <TD>Restated Certificate of Incorporation, incorporated herein by reference to Exhibit 3.1 to the Registrant's Registration Statement on Form S-1 (No. 33-46580) declared effective on November 18, 1992.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.2</TD>
    <TD>&nbsp;</TD>
    <TD>Amendment to Restated Certificate of Incorporation., increasing the authorized capital stock, incorporated herein by reference to Exhibit A to the Registrant's definitive Schedule 14A filed on October_, 1995.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.3</TD>
    <TD>&nbsp;</TD>
    <TD>Amendment to Restated Certificate of Incorporation., increasing the authorized capital stock, incorporated herein by reference to Exhibit B to the Registrant's definitive Schedule 14A filed on August 12, 1997.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.4</TD>
    <TD>&nbsp;</TD>
    <TD>Amendment to Restated Certificate of Incorporation., increasing the authorized capital stock, incorporated herein by reference to Exhibit A to the Registrant's definitive Schedule 14A filed on October 16, 1998.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.5</TD>
    <TD>&nbsp;</TD>
    <TD>Amendment to Restated Certificate of Incorporation, filed with the Secretary of the State of Delaware on October 16, 2006, effecting a reverse stock split.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.6</TD>
    <TD>&nbsp;</TD>
    <TD>Amendment to Restated Certificate of Incorporation, changing the name of the Registrant to Gulf Resources, Inc., incorporated herein by reference to Exhibit 3.1 of the Registrant's Current Report on Form 8-K filed on February 20, 2007.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.7</TD>
    <TD>&nbsp;</TD>
    <TD>Amendment to Restated Certificate of Incorporation, increasing the authorized capital stock of the Registrant and effecting a 2-for-1 forward stock split, incorporated herein by reference to Exhibit 3.1 of the Registrant's Current Report on Form 8-K filed on December 4, 2007.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.8</TD>
    <TD>&nbsp;</TD>
    <TD>Amendment to Restated Certificate of Incorporation, filed with the Secretary of the State of Delaware on October 6, 2009, effecting a reverse stock split, incorporated herein by reference to Appendix C to the Registrant&rsquo;s Schedule 14A filed on July 30, 2009.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.9</TD>
    <TD>&nbsp;</TD>
    <TD>By-laws, incorporated herein by reference to Exhibit 3.2 to the Registrant's Registration Statement on Form S-1 (No. 33-46580) declared effective on November 18, 1992.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>&nbsp;</TD>
    <TD>Lock-up Agreement by and among the Registrant, Top King Group Limited, Billion Gold Group Limited, Topgood International Limited, Ming Yang, Wenxiang Yu, Zhi Yang and Shandong Haoyuan Industry Group Ltd., dated&nbsp;&nbsp;May 10, 2009, incorporated herein by reference to Exhibit 10.1 to the Registrant&rsquo;s Current Report on Form 8-K filed on May 14, 2009.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.2</TD>
    <TD>&nbsp;</TD>
    <TD>Asset Purchase Agreement by and among the Registrant, Shouguang City Haoyuan Chemical Company Limited, Fengxia Yuan, Han Wang and Qing Yang, dated September 7, 2009, incorporated herein by reference to Exhibit 10.1 to the Registrant&rsquo;s Current Report on Form 8-K filed on September 10, 2009.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%">10.3</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 86%">&nbsp;Securities Purchase Agreement by and among the Registrant and institutional investors dated December 11, 2009, incorporated herein by reference to Exhibit 10.1 to the Registrant&rsquo;s Current Report on Form 8-K filed on December 11, 2009.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<!-- Field: Page; Sequence: 96; Value: 58 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%">10.4</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 86%">Registration Rights Agreement by and among the Registrant and institutional investors dated December 11, 2009, incorporated herein by reference to Exhibit 10.1 to the Registrant&rsquo;s Current Report on Form 8-K filed on December 11, 2009.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.5</TD>
    <TD>&nbsp;</TD>
    <TD>Asset Purchase Agreement by and between Shouguang Haoyuan Chemical Co., Ltd., Jinjin Li, and Qiuzhen Wang dated June 7, 2010, incorporated herein by reference to Exhibit 10.1 to the Registrant&rsquo;s Amendment No. 3 on the Current Report on Form 8-K filed on February 22, 2011</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.6</TD>
    <TD>&nbsp;</TD>
    <TD>Crude Salt Field Acquisition Agreement by and between Shouguang City Haoyuan Chemical Co., Ltd. and State-Operated Shouguang Qingshuibo Farm dated December 30, 2010, incorporated herein by reference to Exhibit 10.1 to the Registrant&rsquo;s Current Report on Form 8-K filed on January 4, 2011.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.7</TD>
    <TD>&nbsp;</TD>
    <TD>Attachment to the Crude Salt Field Acquisition Agreement by and between Shouguang City Haoyuan Chemical Co., Ltd. and State-Operated Shouguang Qingshuibo Farm dated December 30, 2010, incorporated herein by reference to Exhibit 10.2 to the Registrant&rsquo;s Current Report on Form 8-K filed on January 4, 2011</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.8</TD>
    <TD>&nbsp;</TD>
    <TD>Lease Contract dated November 5, 2010 by and between Shouguang City Haoyuan Chemical Co., Ltd. and State-Operated Shouguang Qingshuibo Farm, incorporated by reference to Exhibit 10.1 to the Registrant&rsquo;s Current Report on Form 8-K filed on March 4, 2011.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.9</TD>
    <TD>&nbsp;</TD>
    <TD>Supplementary Agreement dated March 1, 2011 by and between Shouguang City Haoyuan Chemical Co., Ltd. and State-Operated Shouguang Qingshuibo Farm, incorporated by reference to Exhibit 10.2 to the Registrant&rsquo;s Current Report on Form 8-K filed on March 4, 2011.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.10</TD>
    <TD>&nbsp;</TD>
    <TD>Bromine Factory Relocation Compensation Agreement dated August 22, 2011 by and between Yangkou Township People&rsquo;s Government of Shouguang Municipality and Shouguang City Haoyuan Chemical Co., Ltd., incorporated by reference to Exhibit 10.1 to the Registrant&rsquo;s Current Report on Form 8-K filed on August 25, 2011</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.11</TD>
    <TD>&nbsp;</TD>
    <TD>Asset Purchase Agreement dated December 22, 2011 by and between Shouguang City Haoyuan Chemical Co., Ltd, Gulf Resources, Inc., and Liangcai Zhang, incorporated by reference to Exhibit 10.1 to the Registrant&rsquo;s Current Report on Form 8-K filed on December 22, 2011.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>14</TD>
    <TD>&nbsp;</TD>
    <TD>Code of Ethics, incorporated herein by reference to Exhibit 14 to the Registrant&rsquo; annual report on Form 10-K filed on March 16, 2009.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>16.1</TD>
    <TD>&nbsp;</TD>
    <TD>Letter of Morison Cogen LLP dated February 10, 2010, incorporated herein by reference to Exhibit 16.1 to the Registrant&rsquo;s Current Report on Form 8-K filed on March 23, 2010.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>16.2</TD>
    <TD>&nbsp;</TD>
    <TD>Letter from BDO Limited dated December 8, 2011, incorporated herein by reference to Exhibit 16.1 to the Registrant&rsquo;s Current Report on Form 8-K filed on December 14, 2011</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>21.1</TD>
    <TD>&nbsp;</TD>
    <TD>List of Subsidiaries, incorporated herein by reference to Exhibit 21.1 to the Registrant&rsquo;s Annual Report on Form 10-K filed on March 12, 2008.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>23.1</TD>
    <TD>&nbsp;</TD>
    <TD>Consent of Morison Cogen LLP, an independent registered public accounting firm.*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>23.2</TD>
    <TD>&nbsp;</TD>
    <TD>Consent of BDO Limited, an independent registered public accounting firm*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>31.1</TD>
    <TD>&nbsp;</TD>
    <TD>Certification pursuant to Rule 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. *</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>31.2</TD>
    <TD>&nbsp;</TD>
    <TD>Certification pursuant to Rule 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. *</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>32.1</TD>
    <TD>&nbsp;</TD>
    <TD>Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. *</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* Filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 97; Value: 58 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></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: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 45pt">Pursuant to the requirements
of Section 13 or 15(d) of the Securities and Exchange Act, the Company has duly caused this Report to be signed on its behalf by
the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 45pt">Pursuant to the requirements
of the Securities Exchange Act of 1934, the Company has duly caused this Report to be signed on its behalf by the undersigned,
thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>Date:&nbsp;March 15, 2012</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: windowtext 1pt solid">/s/&nbsp;Xiaobin Liu</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 7%">By:</TD>
    <TD STYLE="width: 38%">Xiaobin Liu</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>President and Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">(principal executive officer)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: windowtext 1pt solid">/s/&nbsp;Min Li</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 7%">By:</TD>
    <TD STYLE="width: 38%">Min Li</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">(principal financial and accounting officer)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 45pt">Pursuant to the requirements of the Securities
and Exchange Act of 1934, this Report has been signed below by the following person on behalf of the Company and in the capacities
and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; font-weight: bold; text-decoration: none; border-bottom: Black 1pt solid">SIGNATURE</TD>
    <TD STYLE="width: 6%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-decoration: none; width: 38%; border-bottom: Black 1pt solid">TITLE</TD>
    <TD STYLE="width: 6%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-decoration: none; width: 25%; border-bottom: Black 1pt solid">DATE</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/ Xiaobin Liu</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">March 15, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Xiaobin Liu</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer and Director</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/&nbsp;Min Li</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">March 15, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Min Li</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/&nbsp;Ming Yang</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">March 15, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Ming Yang</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/&nbsp;Naihui Miao</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">March 15, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Naihui Miao</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/&nbsp;Tengfei Zhang</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">March 15, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Tengfei Zhang</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/&nbsp;Yang Zou</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">March 15, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Yang Zou</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/&nbsp;Nan Li</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">March 15, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Nan Li</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/&nbsp;Shi Tong Jiang</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">March 15, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Shi Tong Jiang</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 98; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>e609486_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<html>
<head>
    <title>Unassociated Document</title>
    <!--Licensed to: edata-->
    <!--Document Created using EDGARizerAgent 5.3.0.0-->
    <!--Copyright 1995 - 2009 Thomson Reuters. All rights reserved.-->
</head>
<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
<div style="TEXT-ALIGN: center">&#160;<img src="header.jpg"></div>

<div>
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gulf Resources, Inc.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No. 99, Wenchang Road</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chenming Industrial Park</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Shouguang City</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Shandong</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">China</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We hereby consent to the incorporation by reference in the Registration Statement (Form S-8 No. 333-177835 dated November 9, 2011) of Gulf Resources, Inc. and in the related Prospectus included therein, of our reports dated March 15, 2012, relating to the consolidated financial statements and the effectiveness of internal control over financial reporting of Gulf Resources, Inc. appearing in the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2011.</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><img src="sig.jpg"><br>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Bala Cynwyd, Pennsylvania</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">March 15, 2012</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
</div>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>e609486_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; text-align: left; margin-bottom: 0">&nbsp;<IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Consent of Independent Registered Public
Accounting Firm</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gulf Resources, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No. 99, Wenchang Road</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chenming Industrial Park</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shouguang City</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shandong</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">China</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">We hereby consent to the incorporation by reference in
the Registration Statement (Form S-8 No. 333-177835 dated November 9, 2011) of Gulf Resources, Inc. and in the related Prospectus
included therein, of our report dated March 16, 2011, relating to the consolidated financial statements of Gulf Resources, Inc.
appearing in the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2011.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ BDO Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BDO Limited&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hong Kong</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">March 15, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>4
<FILENAME>e609486_ex31-1.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 31.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Certification of Chief Executive Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Rule 13A-14(A)/15D-14(A)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I, Xiaobin Liu, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">I have reviewed this Annual Report on Form 10-K for the fiscal year ended December 31, 2011 of
Gulf Resources, Inc.;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial information included in this
report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant
as of, and for, the periods presented in this report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">The registrant&rsquo;s other certifying officers and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 35.4pt">a.</TD><TD STYLE="text-align: justify">designed such disclosure controls and procedures, or caused such disclosure controls and procedures
to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being
prepared;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.65pt; text-align: justify; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 35.4pt">b.</TD><TD STYLE="text-align: justify">designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being
prepared;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.65pt; text-align: justify; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 35.4pt">c.</TD><TD STYLE="text-align: justify">evaluated the effectiveness of registrant&rsquo;s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.65pt; text-align: justify; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 35.4pt">d.</TD><TD STYLE="text-align: justify">disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting
that occurred during the registrant&rsquo;s fourth fiscal quarter that has materially affected, or is reasonably likely to materially
affect, the registrant&rsquo;s internal control over financial reporting; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The registrant&rsquo;s other certifying officers and I have disclosed, based on our most recent
evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s
board of directors (or persons performing the equivalent functions):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 35.4pt">a.</TD><TD STYLE="text-align: justify">all significant deficiencies and material weaknesses in the design or operation of internal control
over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize
and report financial information; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.65pt; text-align: justify; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 35.4pt">b.</TD><TD STYLE="text-align: justify">any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant&rsquo;s internal controls over financial reporting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 11%">By:</TD>
    <TD STYLE="width: 44%; border-bottom: windowtext 1pt solid">/s/ Xiaobin Liu&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Xiaobin Liu</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer and President</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Dated: March 15, 2012</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt 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>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>5
<FILENAME>e609486_ex31-2.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">Exhibit 31.2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Certification of Chief Financial Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Rule 13A-14(A)/15D-14(A)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I, Min Li, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">I have reviewed this Annual Report on Form 10-K for the fiscal year ended December 31, 2011 of
Gulf Resources, Inc.;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Based on my knowledge, the financial statements, and other financial information included in this
report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant
as of, and for, the periods presented in this report;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">The registrant&rsquo;s other certifying officers and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 35.4pt">a.</TD><TD STYLE="text-align: justify">designed such disclosure controls and procedures, or caused such disclosure controls and procedures
to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being
prepared;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.65pt; text-align: justify; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 35.4pt">b.</TD><TD STYLE="text-align: justify">designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being
prepared;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.65pt; text-align: justify; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 35.4pt">c.</TD><TD STYLE="text-align: justify">evaluated the effectiveness of registrant&rsquo;s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.65pt; text-align: justify; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 35.4pt">d.</TD><TD STYLE="text-align: justify">disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting
that occurred during the registrant&rsquo;s fourth fiscal quarter that has materially affected, or is reasonably likely to materially
affect, the registrant&rsquo;s internal control over financial reporting; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">The registrant&rsquo;s other certifying officers and I have disclosed, based on our most recent
evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s
board of directors (or persons performing the equivalent functions):</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 35.4pt">a.</TD><TD STYLE="text-align: justify">all significant deficiencies and material weaknesses in the design or operation of internal control
over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize
and report financial information; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.65pt; text-align: justify; text-indent: -35.4pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.25pt"></TD><TD STYLE="width: 35.4pt">b.</TD><TD STYLE="text-align: justify">any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant&rsquo;s internal controls over financial reporting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 11%">By:</TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid">/s/ Min Li</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Min Li</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Dated:&nbsp;&nbsp;March 15, 2012</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt 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>
    <!-- Field: /Page -->
<P STYLE="margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>6
<FILENAME>e609486_ex32-1.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 32.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>18 U.S.C. SECTION&nbsp;1350 AND EXCHANGE
ACT RULES&nbsp;13a-14(b) AND&nbsp;15d-14(b)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Section&nbsp;906 of the Sarbanes-Oxley
Act of&nbsp;2002)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In connection with the Annual Report of Gulf Resources, Inc.
on Form 10-K for the fiscal year ended December 31, 2011, as filed with the Securities and Exchange Commission on the date hereof
(the &ldquo;Report&rdquo;), each of the undersigned do hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant
to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of his or her knowledge and belief:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
information contained in the Report fairly presents, in all material respects, the financial condition and results of the operation
of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: top">Dated: March 15, 2012</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 11%">By:</TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid">/s/&nbsp;Xiaobin Liu</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Xiaobin Liu</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer and President</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>Dated: March 15, 2012</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 11%">By:</TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid">/s/&nbsp;Min Li</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Min Li</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt 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>
    <!-- Field: /Page -->
<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>7
<FILENAME>gure-20111231.xml
<DESCRIPTION>XBRL INSTANCE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="yes"?>
<!-- EDGAR Online I-Metrix Xcelerate Instance Document, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version:  6.13.8 -->
<!-- Round: c614353c-260a-4f9b-af26-37e450e6479b -->
<!-- Creation date: 2012-03-12T15:41:36Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
<xbrl xmlns="http://www.xbrl.org/2003/instance" xmlns:xbrll="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:country="http://xbrl.sec.gov/country/2011-01-31" xmlns:dei="http://xbrl.sec.gov/dei/2011-01-31" xmlns:gure="http://www.gulfresourcesinc.cn/20111231" xmlns:invest="http://xbrl.sec.gov/invest/2011-01-31" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:us-gaap="http://fasb.org/us-gaap/2011-01-31" xmlns:us-types="http://fasb.org/us-types/2011-01-31" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt">
  <xbrll:schemaRef xlink:type="simple" xlink:arcrole="http://www.xbrl.org/2003/linkbase" xlink:href="gure-20111231.xsd" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrll="http://www.xbrl.org/2003/linkbase" />
  <dei:EntityCommonStockSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_0_20120309_0" unitRef="shares" decimals="INF">34560743</dei:EntityCommonStockSharesOutstanding>
  <dei:EntityPublicFloat contextRef="eol_PE8833----1110-K0008_STD_0_20110630_0" unitRef="iso4217_USD" decimals="0">55380225</dei:EntityPublicFloat>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20081231_0" unitRef="iso4217_USD" decimals="0">52469220</us-gaap:StockholdersEquity>
  <us-gaap:Cash contextRef="eol_PE8833----1110-K0008_STD_0_20081231_0" unitRef="iso4217_USD" decimals="0">30878044</us-gaap:Cash>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20081231_0_452905x442295" unitRef="iso4217_USD" decimals="0">3223418</us-gaap:StockholdersEquity>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20081231_0_452905x444253" unitRef="iso4217_USD" decimals="0">31817465</us-gaap:StockholdersEquity>
  <us-gaap:CommonStockSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_0_20081231_0_452905x444581" unitRef="shares" decimals="INF">24917211</us-gaap:CommonStockSharesOutstanding>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20081231_0_452905x444581" unitRef="iso4217_USD" decimals="0">12459</us-gaap:StockholdersEquity>
  <us-gaap:CommonStockSharesIssued contextRef="eol_PE8833----1110-K0008_STD_0_20081231_0_452905x444581" unitRef="shares" decimals="INF">24917211</us-gaap:CommonStockSharesIssued>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20081231_0_452905x453698" unitRef="iso4217_USD" decimals="0">13072668</us-gaap:StockholdersEquity>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20081231_0_452905x454423" unitRef="iso4217_USD" decimals="0">4343210</us-gaap:StockholdersEquity>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20091231_0" unitRef="iso4217_USD" decimals="0">134382970</us-gaap:StockholdersEquity>
  <us-gaap:Cash contextRef="eol_PE8833----1110-K0008_STD_0_20091231_0" unitRef="iso4217_USD" decimals="0">45536735</us-gaap:Cash>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20091231_0_452905x442295" unitRef="iso4217_USD" decimals="0">5679769</us-gaap:StockholdersEquity>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20091231_0_452905x444253" unitRef="iso4217_USD" decimals="0">59808289</us-gaap:StockholdersEquity>
  <us-gaap:CommonStockSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_0_20091231_0_452905x444581" unitRef="shares" decimals="INF">34541066</us-gaap:CommonStockSharesOutstanding>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20091231_0_452905x444581" unitRef="iso4217_USD" decimals="0">17271</us-gaap:StockholdersEquity>
  <us-gaap:CommonStockSharesIssued contextRef="eol_PE8833----1110-K0008_STD_0_20091231_0_452905x444581" unitRef="shares" decimals="INF">34541066</us-gaap:CommonStockSharesIssued>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20091231_0_452905x453698" unitRef="iso4217_USD" decimals="0">64718026</us-gaap:StockholdersEquity>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20091231_0_452905x454423" unitRef="iso4217_USD" decimals="0">4159615</us-gaap:StockholdersEquity>
  <us-gaap:DeferredTaxAssetsNetCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">99694</us-gaap:DeferredTaxAssetsNetCurrent>
  <us-gaap:LiabilitiesCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">14035830</us-gaap:LiabilitiesCurrent>
  <us-gaap:RetentionPayable contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="INF">453000</us-gaap:RetentionPayable>
  <us-gaap:PrepaidExpenseAndOtherAssetsCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">939940</us-gaap:PrepaidExpenseAndOtherAssetsCurrent>
  <us-gaap:AccountsReceivableNetCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">21542229</us-gaap:AccountsReceivableNetCurrent>
  <us-gaap:Assets contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">206721024</us-gaap:Assets>
  <us-gaap:CommonStockValue contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">17368</us-gaap:CommonStockValue>
  <us-gaap:InventoryNet contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">2679899</us-gaap:InventoryNet>
  <us-gaap:CommonStockSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="shares" decimals="INF">34735912</us-gaap:CommonStockSharesOutstanding>
  <us-gaap:PreferredStockSharesAuthorized contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="shares" decimals="INF">1000000</us-gaap:PreferredStockSharesAuthorized>
  <us-gaap:AssetsCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">93799003</us-gaap:AssetsCurrent>
  <us-gaap:RetainedEarningsAppropriated contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">10271293</us-gaap:RetainedEarningsAppropriated>
  <us-gaap:TaxesPayableCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">7163095</us-gaap:TaxesPayableCurrent>
  <us-gaap:PrepaidExpenseOtherNoncurrent contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">743022</us-gaap:PrepaidExpenseOtherNoncurrent>
  <us-gaap:PreferredStockSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="shares" xsi:nil="true" />
  <us-gaap:AssetsNoncurrent contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">112922021</us-gaap:AssetsNoncurrent>
  <us-gaap:CommonStockParOrStatedValuePerShare contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD_per_shares" decimals="4">0.0005</us-gaap:CommonStockParOrStatedValuePerShare>
  <us-gaap:AdditionalPaidInCapital contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">66626584</us-gaap:AdditionalPaidInCapital>
  <us-gaap:OtherPrepaidExpenseCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">42761</us-gaap:OtherPrepaidExpenseCurrent>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">6419735</us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent>
  <us-gaap:LiabilitiesAndStockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">206721024</us-gaap:LiabilitiesAndStockholdersEquity>
  <us-gaap:PreferredStockValue contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" xsi:nil="true" />
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">192685194</us-gaap:StockholdersEquity>
  <us-gaap:CommonStockSharesIssued contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="shares" decimals="INF">34735912</us-gaap:CommonStockSharesIssued>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD_per_shares" decimals="3">0.001</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PropertyPlantAndEquipmentNet contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">112178999</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:RetainedEarningsUnappropriated contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">106500085</us-gaap:RetainedEarningsUnappropriated>
  <us-gaap:CommonStockSharesAuthorized contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="shares" decimals="INF">100000000</us-gaap:CommonStockSharesAuthorized>
  <us-gaap:Liabilities contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">14035830</us-gaap:Liabilities>
  <us-gaap:AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">9269864</us-gaap:AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax>
  <us-gaap:Cash contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0" unitRef="iso4217_USD" decimals="0">68494480</us-gaap:Cash>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0_452905x442295" unitRef="iso4217_USD" decimals="0">10271293</us-gaap:StockholdersEquity>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0_452905x444253" unitRef="iso4217_USD" decimals="0">106500085</us-gaap:StockholdersEquity>
  <us-gaap:CommonStockSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0_452905x444581" unitRef="shares" decimals="INF">34735912</us-gaap:CommonStockSharesOutstanding>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0_452905x444581" unitRef="iso4217_USD" decimals="0">17368</us-gaap:StockholdersEquity>
  <us-gaap:CommonStockSharesIssued contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0_452905x444581" unitRef="shares" decimals="INF">34735912</us-gaap:CommonStockSharesIssued>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0_452905x453698" unitRef="iso4217_USD" decimals="0">66626584</us-gaap:StockholdersEquity>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20101231_0_452905x454423" unitRef="iso4217_USD" decimals="0">9269864</us-gaap:StockholdersEquity>
  <us-gaap:CapitalLeaseObligationsNoncurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">3036558</us-gaap:CapitalLeaseObligationsNoncurrent>
  <us-gaap:DeferredTaxAssetsNetCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">228702</us-gaap:DeferredTaxAssetsNetCurrent>
  <us-gaap:TreasuryStockValue contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">500000</us-gaap:TreasuryStockValue>
  <us-gaap:CapitalLeaseObligationsCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">189742</us-gaap:CapitalLeaseObligationsCurrent>
  <us-gaap:LiabilitiesCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">12178385</us-gaap:LiabilitiesCurrent>
  <us-gaap:RetentionPayable contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="INF">556450</us-gaap:RetentionPayable>
  <us-gaap:DeferredTaxAssetsNetNoncurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">2509481</us-gaap:DeferredTaxAssetsNetNoncurrent>
  <us-gaap:PrepaidExpenseAndOtherAssetsCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">307600</us-gaap:PrepaidExpenseAndOtherAssetsCurrent>
  <us-gaap:AccountsReceivableNetCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">21919828</us-gaap:AccountsReceivableNetCurrent>
  <us-gaap:Assets contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">258327699</us-gaap:Assets>
  <us-gaap:CommonStockValue contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">17373</us-gaap:CommonStockValue>
  <us-gaap:InventoryNet contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">4437972</us-gaap:InventoryNet>
  <us-gaap:CommonStockSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="shares" decimals="INF">34560743</us-gaap:CommonStockSharesOutstanding>
  <us-gaap:PreferredStockSharesAuthorized contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="shares" decimals="INF">1000000</us-gaap:PreferredStockSharesAuthorized>
  <us-gaap:AssetsCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">105516744</us-gaap:AssetsCurrent>
  <us-gaap:RetainedEarningsAppropriated contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">14409557</us-gaap:RetainedEarningsAppropriated>
  <us-gaap:TaxesPayableCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">4058550</us-gaap:TaxesPayableCurrent>
  <us-gaap:PrepaidExpenseOtherNoncurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">763814</us-gaap:PrepaidExpenseOtherNoncurrent>
  <us-gaap:PreferredStockSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="shares" xsi:nil="true" />
  <us-gaap:AssetsNoncurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">152810955</us-gaap:AssetsNoncurrent>
  <us-gaap:CommonStockParOrStatedValuePerShare contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD_per_shares" decimals="4">0.0005</us-gaap:CommonStockParOrStatedValuePerShare>
  <us-gaap:AdditionalPaidInCapital contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">74107979</us-gaap:AdditionalPaidInCapital>
  <us-gaap:OtherPrepaidExpenseCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">46582</us-gaap:OtherPrepaidExpenseCurrent>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">7373643</us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent>
  <us-gaap:LiabilitiesAndStockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">258327699</us-gaap:LiabilitiesAndStockholdersEquity>
  <us-gaap:PreferredStockValue contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" xsi:nil="true" />
  <us-gaap:CapitalLeasesBalanceSheetAssetsByMajorClassNet contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">2336920</us-gaap:CapitalLeasesBalanceSheetAssetsByMajorClassNet>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">243112756</us-gaap:StockholdersEquity>
  <us-gaap:CommonStockSharesIssued contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="shares" decimals="INF">34745342</us-gaap:CommonStockSharesIssued>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD_per_shares" decimals="3">0.001</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PropertyPlantAndEquipmentNet contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">147200740</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:RetainedEarningsUnappropriated contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">133314581</us-gaap:RetainedEarningsUnappropriated>
  <us-gaap:CommonStockSharesAuthorized contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="shares" decimals="INF">100000000</us-gaap:CommonStockSharesAuthorized>
  <us-gaap:Liabilities contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">15214943</us-gaap:Liabilities>
  <us-gaap:TreasuryStockShares contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="shares" decimals="INF">184599</us-gaap:TreasuryStockShares>
  <us-gaap:AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">21763266</us-gaap:AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax>
  <us-gaap:Cash contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0" unitRef="iso4217_USD" decimals="0">78576060</us-gaap:Cash>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x442295" unitRef="iso4217_USD" decimals="0">14409557</us-gaap:StockholdersEquity>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x444253" unitRef="iso4217_USD" decimals="0">133314581</us-gaap:StockholdersEquity>
  <us-gaap:CommonStockSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x444581" unitRef="shares" decimals="INF">34560743</us-gaap:CommonStockSharesOutstanding>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x444581" unitRef="iso4217_USD" decimals="0">17373</us-gaap:StockholdersEquity>
  <us-gaap:CommonStockSharesIssued contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x444581" unitRef="shares" decimals="INF">34745342</us-gaap:CommonStockSharesIssued>
  <us-gaap:CommonStockSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x449678" unitRef="shares" decimals="INF">184599</us-gaap:CommonStockSharesOutstanding>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x449678" unitRef="iso4217_USD" decimals="0">-500000</us-gaap:StockholdersEquity>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x453698" unitRef="iso4217_USD" decimals="0">74107979</us-gaap:StockholdersEquity>
  <us-gaap:StockholdersEquity contextRef="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x454423" unitRef="iso4217_USD" decimals="0">21763266</us-gaap:StockholdersEquity>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">606468</us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue>
  <us-gaap:ProceedsFromPaymentsForOtherFinancingActivities contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">-50000</us-gaap:ProceedsFromPaymentsForOtherFinancingActivities>
  <us-gaap:ProceedsFromIssuanceOfPrivatePlacement contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">21307142</us-gaap:ProceedsFromIssuanceOfPrivatePlacement>
  <us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">704767</us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment>
  <us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">-38244301</us-gaap:NetCashProvidedByUsedInInvestingActivities>
  <us-gaap:InvestmentIncomeInterest contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">80805</us-gaap:InvestmentIncomeInterest>
  <us-gaap:PaymentsToAcquireOtherProductiveAssets contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">72411</us-gaap:PaymentsToAcquireOtherProductiveAssets>
  <us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">3283341</us-gaap:IncreaseDecreaseInAccountsReceivable>
  <us-gaap:IncomeTaxesPaid contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">10514697</us-gaap:IncomeTaxesPaid>
  <us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">-183595</us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease>
  <us-gaap:Revenues contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">110276908</us-gaap:Revenues>
  <us-gaap:CostsAndExpenses contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">68564822</us-gaap:CostsAndExpenses>
  <us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">39820378</us-gaap:NetCashProvidedByUsedInOperatingActivities>
  <us-gaap:ComprehensiveIncomeNetOfTax contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">30407820</us-gaap:ComprehensiveIncomeNetOfTax>
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">41775813</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <us-gaap:ShareBasedCompensation contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">2022240</us-gaap:ShareBasedCompensation>
  <us-gaap:EarningsPerShareDiluted contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD_per_shares" decimals="2">1.00</us-gaap:EarningsPerShareDiluted>
  <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">1075519</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
  <us-gaap:InterestExpense contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">17078</us-gaap:InterestExpense>
  <us-gaap:DeferredIncomeTaxExpenseBenefit contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">-82166</us-gaap:DeferredIncomeTaxExpenseBenefit>
  <us-gaap:AmortizationOfLeasedAsset contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">57985</us-gaap:AmortizationOfLeasedAsset>
  <us-gaap:NetIncomeLoss contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">30591415</us-gaap:NetIncomeLoss>
  <us-gaap:NonoperatingIncomeExpense contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">63727</us-gaap:NonoperatingIncomeExpense>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">500406</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">1415772</us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued>
  <us-gaap:ProceedsFromRepaymentsOfRelatedPartyDebt contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">-852067</us-gaap:ProceedsFromRepaymentsOfRelatedPartyDebt>
  <us-gaap:IncreaseDecreaseInAccruedTaxesPayable contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="INF">1284882</us-gaap:IncreaseDecreaseInAccruedTaxesPayable>
  <us-gaap:CostOfRevenue contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">62697871</us-gaap:CostOfRevenue>
  <us-gaap:IncreaseDecreaseInOtherReceivables contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">-353</us-gaap:IncreaseDecreaseInOtherReceivables>
  <us-gaap:IncreaseDecreaseInDueToRelatedPartiesCurrent contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">1190</us-gaap:IncreaseDecreaseInDueToRelatedPartiesCurrent>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">38876657</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:StockIssuedDuringPeriodValueAcquisitions contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">6028588</us-gaap:StockIssuedDuringPeriodValueAcquisitions>
  <us-gaap:IncreaseDecreaseInRetainagePayable contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">659745</us-gaap:IncreaseDecreaseInRetainagePayable>
  <us-gaap:EarningsPerShareBasic contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD_per_shares" decimals="2">1.00</us-gaap:EarningsPerShareBasic>
  <us-gaap:DepreciationAndAmortization contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">7199658</us-gaap:DepreciationAndAmortization>
  <us-gaap:OperatingIncomeLoss contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">41712086</us-gaap:OperatingIncomeLoss>
  <us-gaap:IncomeTaxExpenseBenefit contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">11184398</us-gaap:IncomeTaxExpenseBenefit>
  <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="shares" decimals="0">30698824</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
  <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">3920</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
  <us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">9151</us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents>
  <us-gaap:RepaymentsOfRelatedPartyDebt contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">1649837</us-gaap:RepaymentsOfRelatedPartyDebt>
  <us-gaap:CashPeriodIncreaseDecrease contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="INF">14658691</us-gaap:CashPeriodIncreaseDecrease>
  <us-gaap:InterestPaid contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" xsi:nil="true" />
  <us-gaap:IncreaseDecreaseInInventories contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">222749</us-gaap:IncreaseDecreaseInInventories>
  <us-gaap:ProceedsFromRepaymentsOfDebt contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">-4031775</us-gaap:ProceedsFromRepaymentsOfDebt>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">5344833</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="shares" decimals="0">30701697</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
  <us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">13073463</us-gaap:NetCashProvidedByUsedInFinancingActivities>
  <us-gaap:RepaymentsOfNotesPayable contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">1650000</us-gaap:RepaymentsOfNotesPayable>
  <us-gaap:GainLossOnDispositionOfProperty contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">-528749</us-gaap:GainLossOnDispositionOfProperty>
  <gure:Reclassification contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">-1649815</gure:Reclassification>
  <gure:SellingMarketingAndOtherOperatingExpenses contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">21712</gure:SellingMarketingAndOtherOperatingExpenses>
  <gure:InventoryWriteDownAndRecoveries contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0" unitRef="iso4217_USD" decimals="0">-9182</gure:InventoryWriteDownAndRecoveries>
  <gure:TransferToRetainedEarningsAppropriatedForLegalReserve contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x442295" unitRef="iso4217_USD" decimals="0">-2456351</gure:TransferToRetainedEarningsAppropriatedForLegalReserve>
  <us-gaap:NetIncomeLoss contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444253" unitRef="iso4217_USD" decimals="0">30591415</us-gaap:NetIncomeLoss>
  <gure:TransferToRetainedEarningsAppropriatedForLegalReserve contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444253" unitRef="iso4217_USD" decimals="0">2456351</gure:TransferToRetainedEarningsAppropriatedForLegalReserve>
  <gure:Reclassification contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444253" unitRef="iso4217_USD" decimals="0">-144240</gure:Reclassification>
  <us-gaap:StockIssuedDuringPeriodSharesAcquisitions contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444581" unitRef="shares" decimals="INF">1432341</us-gaap:StockIssuedDuringPeriodSharesAcquisitions>
  <us-gaap:StockIssuedDuringPeriodValueAcquisitions contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444581" unitRef="iso4217_USD" decimals="0">716</us-gaap:StockIssuedDuringPeriodValueAcquisitions>
  <gure:AdjustmentToCommonStockIssuedShares contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444581" unitRef="shares" decimals="0">332</gure:AdjustmentToCommonStockIssuedShares>
  <us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444581_455296x452841" unitRef="iso4217_USD" decimals="0">1471</us-gaap:StockIssuedDuringPeriodValueNewIssues>
  <us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444581_455296x452841" unitRef="shares" decimals="INF">2941182</us-gaap:StockIssuedDuringPeriodSharesNewIssues>
  <us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444581_455296x469977" unitRef="iso4217_USD" decimals="0">2625</us-gaap:StockIssuedDuringPeriodValueNewIssues>
  <us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444581_455296x469977" unitRef="shares" decimals="INF">5250000</us-gaap:StockIssuedDuringPeriodSharesNewIssues>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x453698" unitRef="iso4217_USD" decimals="0">606468</us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x453698" unitRef="iso4217_USD" decimals="0">1415772</us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued>
  <us-gaap:StockIssuedDuringPeriodValueAcquisitions contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x453698" unitRef="iso4217_USD" decimals="0">6027872</us-gaap:StockIssuedDuringPeriodValueAcquisitions>
  <gure:Reclassification contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x453698" unitRef="iso4217_USD" decimals="0">-1188191</gure:Reclassification>
  <us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x453698_455296x452841" unitRef="iso4217_USD" decimals="0">23498569</us-gaap:StockIssuedDuringPeriodValueNewIssues>
  <us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x453698_455296x469977" unitRef="iso4217_USD" decimals="0">21284868</us-gaap:StockIssuedDuringPeriodValueNewIssues>
  <us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x454423" unitRef="iso4217_USD" decimals="0">133789</us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease>
  <gure:Reclassification contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x454423" unitRef="iso4217_USD" decimals="0">-317384</gure:Reclassification>
  <us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_455296x452841" unitRef="iso4217_USD" decimals="0">23500040</us-gaap:StockIssuedDuringPeriodValueNewIssues>
  <us-gaap:StockIssued1 contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_455296x469835" unitRef="iso4217_USD" decimals="0">6028588</us-gaap:StockIssued1>
  <us-gaap:StockIssued1 contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_455296x469977" unitRef="iso4217_USD" decimals="0">21287493</us-gaap:StockIssued1>
  <us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="eol_PE8833----1110-K0008_STD_365_20091231_0_455296x469977" unitRef="iso4217_USD" decimals="0">21287493</us-gaap:StockIssuedDuringPeriodValueNewIssues>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">1089000</us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue>
  <us-gaap:ProceedsFromStockOptionsExercised contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">18000</us-gaap:ProceedsFromStockOptionsExercised>
  <us-gaap:ProceedsFromIssuanceOfPrivatePlacement contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">2192919</us-gaap:ProceedsFromIssuanceOfPrivatePlacement>
  <us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">479260</us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment>
  <us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">-39084512</us-gaap:NetCashProvidedByUsedInInvestingActivities>
  <us-gaap:InvestmentIncomeInterest contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">242988</us-gaap:InvestmentIncomeInterest>
  <us-gaap:PaymentsToAcquireOtherProductiveAssets contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">100315</us-gaap:PaymentsToAcquireOtherProductiveAssets>
  <us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">6016376</us-gaap:IncreaseDecreaseInAccountsReceivable>
  <us-gaap:IncomeTaxesPaid contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">16917029</us-gaap:IncomeTaxesPaid>
  <us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">5110249</us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease>
  <us-gaap:Revenues contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">158335023</us-gaap:Revenues>
  <us-gaap:CostsAndExpenses contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">89238790</us-gaap:CostsAndExpenses>
  <us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">57999451</us-gaap:NetCashProvidedByUsedInOperatingActivities>
  <us-gaap:ComprehensiveIncomeNetOfTax contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">56393569</us-gaap:ComprehensiveIncomeNetOfTax>
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">69338169</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <us-gaap:ShareBasedCompensation contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">1282428</us-gaap:ShareBasedCompensation>
  <us-gaap:EarningsPerShareDiluted contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD_per_shares" decimals="2">1.48</us-gaap:EarningsPerShareDiluted>
  <us-gaap:OtherOperatingIncome contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">223715</us-gaap:OtherOperatingIncome>
  <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">429441</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
  <us-gaap:InterestExpense contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">1052</us-gaap:InterestExpense>
  <us-gaap:DeferredIncomeTaxExpenseBenefit contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">-11272</us-gaap:DeferredIncomeTaxExpenseBenefit>
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">18000</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <us-gaap:AmortizationOfLeasedAsset contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">104940</us-gaap:AmortizationOfLeasedAsset>
  <us-gaap:NetIncomeLoss contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">51283320</us-gaap:NetIncomeLoss>
  <us-gaap:NonoperatingIncomeExpense contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">241936</us-gaap:NonoperatingIncomeExpense>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">2200291</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">193428</us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued>
  <us-gaap:IncreaseDecreaseInAccruedTaxesPayable contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="INF">1415198</us-gaap:IncreaseDecreaseInAccruedTaxesPayable>
  <us-gaap:CostOfRevenue contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">80254759</us-gaap:CostOfRevenue>
  <us-gaap:IncreaseDecreaseInOtherReceivables contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">-2307</us-gaap:IncreaseDecreaseInOtherReceivables>
  <us-gaap:IncreaseDecreaseInDueToRelatedPartiesCurrent contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">-1190</us-gaap:IncreaseDecreaseInDueToRelatedPartiesCurrent>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">39463457</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:StockIssuedDuringPeriodValueAcquisitions contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">608227</us-gaap:StockIssuedDuringPeriodValueAcquisitions>
  <us-gaap:IncreaseDecreaseInRetainagePayable contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">-221805</us-gaap:IncreaseDecreaseInRetainagePayable>
  <us-gaap:EarningsPerShareBasic contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD_per_shares" decimals="2">1.48</us-gaap:EarningsPerShareBasic>
  <us-gaap:DepreciationAndAmortization contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">11097149</us-gaap:DepreciationAndAmortization>
  <us-gaap:OperatingIncomeLoss contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">69096233</us-gaap:OperatingIncomeLoss>
  <us-gaap:IncomeTaxExpenseBenefit contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">18054849</us-gaap:IncomeTaxExpenseBenefit>
  <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="shares" decimals="0">34614667</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
  <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">685266</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
  <us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">1831887</us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents>
  <us-gaap:CashPeriodIncreaseDecrease contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="INF">22957745</us-gaap:CashPeriodIncreaseDecrease>
  <us-gaap:InterestPaid contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" xsi:nil="true" />
  <us-gaap:IncreaseDecreaseInInventories contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">1970745</us-gaap:IncreaseDecreaseInInventories>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">6871091</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="shares" decimals="0">34675329</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
  <us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">2210919</us-gaap:NetCashProvidedByUsedInFinancingActivities>
  <us-gaap:GainLossOnDispositionOfProperty contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">-1289407</us-gaap:GainLossOnDispositionOfProperty>
  <gure:SellingMarketingAndOtherOperatingExpenses contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">136364</gure:SellingMarketingAndOtherOperatingExpenses>
  <gure:InventoryWriteDownAndRecoveries contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0" unitRef="iso4217_USD" decimals="0">1915</gure:InventoryWriteDownAndRecoveries>
  <gure:TransferToRetainedEarningsAppropriatedForLegalReserve contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x442295" unitRef="iso4217_USD" decimals="0">-4591524</gure:TransferToRetainedEarningsAppropriatedForLegalReserve>
  <us-gaap:NetIncomeLoss contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x444253" unitRef="iso4217_USD" decimals="0">51283320</us-gaap:NetIncomeLoss>
  <gure:TransferToRetainedEarningsAppropriatedForLegalReserve contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x444253" unitRef="iso4217_USD" decimals="0">4591524</gure:TransferToRetainedEarningsAppropriatedForLegalReserve>
  <us-gaap:StockIssuedDuringPeriodSharesAcquisitions contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x444581" unitRef="shares" decimals="INF">70560</us-gaap:StockIssuedDuringPeriodSharesAcquisitions>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x444581" unitRef="shares" decimals="INF">108405</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x444581" unitRef="iso4217_USD" decimals="0">54</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <us-gaap:StockIssuedDuringPeriodValueAcquisitions contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x444581" unitRef="iso4217_USD" decimals="0">35</us-gaap:StockIssuedDuringPeriodValueAcquisitions>
  <gure:StockIssuedDuringPeriodValueStockWarrantsExercised contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x444581" unitRef="iso4217_USD" decimals="0">8</gure:StockIssuedDuringPeriodValueStockWarrantsExercised>
  <gure:StockIssuedDuringPeriodSharesStockWarrantsExercised contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x444581" unitRef="shares" decimals="INF">15881</gure:StockIssuedDuringPeriodSharesStockWarrantsExercised>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x453698" unitRef="iso4217_USD" decimals="0">1089000</us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue>
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x453698" unitRef="iso4217_USD" decimals="0">17946</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x453698" unitRef="iso4217_USD" decimals="0">193428</us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued>
  <us-gaap:StockIssuedDuringPeriodValueAcquisitions contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x453698" unitRef="iso4217_USD" decimals="0">608192</us-gaap:StockIssuedDuringPeriodValueAcquisitions>
  <gure:StockIssuedDuringPeriodValueStockWarrantsExercised contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x453698" unitRef="iso4217_USD" decimals="0">-8</gure:StockIssuedDuringPeriodValueStockWarrantsExercised>
  <us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x454423" unitRef="iso4217_USD" decimals="0">5110249</us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease>
  <us-gaap:StockIssued1 contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_455296x441864" unitRef="iso4217_USD" decimals="0">48</us-gaap:StockIssued1>
  <us-gaap:StockIssued1 contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_455296x450439" unitRef="iso4217_USD" decimals="0">8</us-gaap:StockIssued1>
  <us-gaap:StockIssued1 contextRef="eol_PE8833----1110-K0008_STD_365_20101231_0_455296x469835" unitRef="iso4217_USD" decimals="0">608227</us-gaap:StockIssued1>
  <dei:DocumentFiscalPeriodFocus contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">FY</dei:DocumentFiscalPeriodFocus>
  <dei:EntityVoluntaryFilers contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">No</dei:EntityVoluntaryFilers>
  <dei:TradingSymbol contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">GURE</dei:TradingSymbol>
  <dei:EntityRegistrantName contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">GULF RESOURCES, INC.</dei:EntityRegistrantName>
  <dei:EntityCurrentReportingStatus contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">Yes</dei:EntityCurrentReportingStatus>
  <dei:AmendmentFlag contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">false</dei:AmendmentFlag>
  <dei:EntityFilerCategory contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">Accelerated Filer</dei:EntityFilerCategory>
  <dei:DocumentFiscalYearFocus contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">2011</dei:DocumentFiscalYearFocus>
  <dei:DocumentType contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">10-K</dei:DocumentType>
  <dei:DocumentPeriodEndDate contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">2011-12-31</dei:DocumentPeriodEndDate>
  <dei:EntityCentralIndexKey contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">0000885462</dei:EntityCentralIndexKey>
  <dei:EntityWellKnownSeasonedIssuer contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">No</dei:EntityWellKnownSeasonedIssuer>
  <dei:CurrentFiscalYearEndDate contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">--12-31</dei:CurrentFiscalYearEndDate>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">7029400</us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue>
  <us-gaap:PaymentsForRepurchaseOfCommonStock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">500000</us-gaap:PaymentsForRepurchaseOfCommonStock>
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 12 &amp;#x2013; COMMON STOCK&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company changed the trading ticker symbol of its common stock
on the NASDAQ Global Select Market to &amp;#x201C;GURE&amp;#x201D; effective
at the open of the market on June 30, 2011.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Effective October 12, 2009, the Company effected a one for four
reverse stock split.&amp;#xA0;&amp;#xA0;All shares and per share amount for
all periods presented have been adjusted to reflect the reverse
stock split.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In March 2009, the Company issued 5,250,000 shares of its common
stock as payment for $21,287,493 of Notes and Loan Payable-Related
Party.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In March 2009, the Company issued 375,000 shares of its common
stock, valued at $615,000, to acquire assets owned by Qiufen Yuan,
Han Wang and Yufen Zhang.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In September 2009, the Company issued 1,057,341 shares of its
common stock, valued at $5,413,588, to acquire assets owned by Han
Wang, Qing Yang and Yuliang Gao.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In December 2009, the Company issued 2,941,182 shares of its common
stock at a price of $8.50 per share in a private placement. A
portion of the proceeds were received by the Company in January
2010.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In August 2008, the Company granted to one investor relations firm
a warrant to purchase a total of 25,000 shares of the
Company&amp;#x2019;s common stock at an exercise price of $4.80&amp;#xA0;per
share and the options vested immediately. In January 2010, the
investor relations firm made a cashless exercise for the warrant.
The Company issued 15,881 shares based on the fair market price of
$13.16.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In the fourth quarter of 2008, the Company granted to one Board
member options to purchase a total of 12,500 shares of the
Company&amp;#x2019;s common stock at an exercise price of $1.44&amp;#xA0;per
share and the options vested immediately.&amp;#xA0; In February 2010,
the Company issued 12,500 shares of its common stock upon the
exercise of such stock options by the Board member.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In June 2010, the Company issued 70,560 shares of its common stock,
valued at $608,227, to acquire assets owned by Mr Jinjin Li, Ms
Qiuzhen Wang, Yueliang Wang, Kunming Tian, Gaoming Tian and
Zhiqiang Wei.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In the fourth quarter of 2010, the Company issued 95,905 shares of
its common stock based on the fair market prices of $8.3 - $11.8
upon the cashless exercise of 187,500 stock options granted to the
Board members and employees.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In the second quarter of 2011, the Company issued 9,430 shares of
its common stock based on the fair market price of $3.42 upon the
cashless exercise of 12,500 stock options granted to a Board
member.&lt;/p&gt;
&lt;/div&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <us-gaap:CommitmentsDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 22 &amp;#x2013; CAPITAL COMMITMENT AND OPERATING LEASE
COMMITMENTS&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;As of
December 31, 2011, the&lt;/font&gt; &lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;Company has leased a
real property adjacent to Factory No. 1, with the related
production facility, channels and ducts, other production equipment
and the buildings located on the property, under capital lease. The
future minimum lease payments required under capital lease,
together with the present value of such payments, are included in
the table show below.&lt;/font&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company has leased five pieces of land under non-cancelable
operating leases, which are fixed in rentals and expired through
December 2030, December 2040, February 2059, August 2059 and June
2060, respectively. The Company accounts for the leases as
operating leases.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company has no purchase commitment as of December 31, 2011.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The following table sets forth the Company&amp;#x2019;s contractual
obligations as of December 31, 2011:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Capital Lease&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Operating Lease&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Purchase&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Obligations&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Obligations&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Obligations&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Payable within:&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-LEFT: 9pt; WIDTH: 55%"&gt;the next 12 months&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;297,899&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;590,037&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt"&gt;the next 13 to 24
months&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;297,898&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;640,837&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt"&gt;the next 25 to 36
months&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;297,899&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;645,177&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt"&gt;the next 37 to 48
months&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;297,898&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;649,681&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt"&gt;the next 49 to 60
months&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;297,899&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;654,316&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 9pt"&gt;thereafter&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
4,170,582&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
18,009,119&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Total&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt"&gt;5,660,075&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
21,189,167&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Less: Amount
representing interest&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(2,433,775&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Present value
of net minimum lease payments&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
3,226,300&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Rental expenses related to operating leases of the Company amounted
to $583,123, $104,940 and $42,102 were charged to the income
statements for the years ended December 31, 2011, 2010 and 2009,
respectively.&lt;/p&gt;
&lt;/div&gt;</us-gaap:CommitmentsDisclosureTextBlock>
  <us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;NOTE 1
&amp;#x2013; NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(a)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Basis
of Presentation&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The accompanying audited consolidated financial statements have
been prepared by Gulf Resources, Inc. a Delaware corporation and
its subsidiaries (collectively, the &amp;#x201C;Company&amp;#x201D;).&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Upper Class Group Limited was incorporated with limited liability
in the British Virgin Islands on July 28, 2006 and was inactive
until October 9, 2006 when Upper Class Group Limited acquired all
the issued and outstanding stock of Shouguang City Haoyuan Chemical
Company Limited (&amp;#x201C;SCHC&amp;#x201D;).&amp;#xA0;&amp;#xA0;SCHC is an
operating company incorporated in Shouguang City, Shangdong
Province, the People&amp;#x2019;s Republic of China (the
&amp;#x201C;PRC&amp;#x201D;) on May 18, 2005.&amp;#xA0;&amp;#xA0;SCHC is engaged in
manufacturing and trading bromine and crude salt in
China.&amp;#xA0;&amp;#xA0;Since the ownership of Upper Class Group Limited
and SCHC were the same, the merger was accounted for as a
transaction between entities under common control, whereby Upper
Class Group Limited recognized the assets and liabilities
transferred at their carrying amounts.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
On December 12, 2006, Gulf Resources, Inc. (formerly Diversifax,
Inc.), a public &amp;#x201C;shell&amp;#x201D; company, acquired Upper Class
Group Limited and its wholly-owned subsidiary, SCHC (together
&amp;#x201C;Upper Class&amp;#x201D;).&amp;#xA0;&amp;#xA0;Under the terms of the
agreement, all stockholders of Upper Class received a total amount
of 13,250,000 (restated for the 2-for-1 stock split in 2007 and the
1-for-4 stock split in 2009) shares of voting common stock of Gulf
Resources, Inc. in exchange for all shares of Upper Class&amp;#x2019;
common stock held by all stockholders.&amp;#xA0;&amp;#xA0;Under accounting
principles generally accepted in the United States, the share
exchange is considered to be a capital transaction in substance,
rather than a business combination.&amp;#xA0;&amp;#xA0;That is, the share
exchange is equivalent to the issuance of stock by Upper Class for
the net monetary assets of Gulf Resources, Inc., accompanied by a
recapitalization, and is accounted for as a change in capital
structure. Accordingly, the accounting for the share exchange will
be identical to that resulting from a reverse acquisition, except
no goodwill will be recorded.&amp;#xA0;&amp;#xA0;Under reverse takeover
accounting, the post reverse acquisition comparative historical
financial statements of the legal acquirer, Gulf Resources, Inc.,
are those of the legal acquiree, Upper Class, which is considered
to be the accounting acquirer.&amp;#xA0;&amp;#xA0;Share and per share
amounts stated have been retroactively adjusted to reflect the
merger.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
On February 5, 2007, SCHC acquired Shouguang Yuxin Chemical
Industry Co., Limited (&amp;#x201C;SYCI&amp;#x201D;), a company incorporated
in PRC on October 30, 2000.&amp;#xA0;&amp;#xA0;SYCI manufactures chemical
products utilized in oil and gas field explorations and as
papermaking chemical agents. Under the terms of the merger
agreement, all stockholders of SYCI received a total amount of
8,094,059 (restated for the 2-for-1 stock split in 2007 and the
1-for-4 stock split in 2009) shares of voting common stock of Gulf
Resources, Inc. in exchange for all shares of SYCI&amp;#x2019;s common
stock held by all stockholders.&amp;#xA0;&amp;#xA0;&amp;#xA0;Also, upon the
completion of the merger, Gulf Resources, Inc. paid a $2,550,000
dividend to the original stockholders of SYCI.&amp;#xA0;&amp;#xA0;Since the
ownership of Gulf Resources, Inc. and SYCI are substantially the
same, the merger was accounted for as a transaction between
entities under common control, whereby Gulf Resources, Inc.
recognized the assets and liabilities of the Company transferred at
their carrying amounts.&amp;#xA0;&amp;#xA0;Share and per share amounts
stated have been retroactively adjusted to reflect the merger.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
On November 11, 2007, Upper Class formed Hong Kong Jiaxing
Industrial Limited (formerly known as Jiaxing Technology Limited)
(&amp;#x201C;HKJI&amp;#x201D;), a wholly-owned subsidiary of Upper Class, in
Hong Kong. Upper Class transferred its equity interest in SCHC to
HKJI.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The adoption of the Financial Accounting Standards Board
(&amp;#x201C;FASB&amp;#x201D;) Accounting Standards Codification
(&amp;#x201C;ASC&amp;#x201D; or &amp;#x201C;Codification&amp;#x201D;) did not result in
significant effect in the accounting policies adopted by the
Company.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
All relevant share data have been adjusted retrospectively to
reflect a 1-for-4 stock split effective on October 12, 2009.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(b)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Nature
of the Business&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company manufactures and trades bromine and crude salt through
SCHC, and manufactures chemical products for use in the oil
industry and paper manufacturing industry through SYCI.&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;/p&gt;
&lt;p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(c)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Basis
of Consolidation&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The consolidated financial statements include the accounts of Gulf
Resources, Inc. and its wholly-owned subsidiaries, Upper Class, a
company incorporated in the British Virgin Islands, which owns 100%
of HKJI, a company incorporated in Hong Kong, which owns 100% of
SCHC and SYCI, which is 100% owned by SCHC.&amp;#xA0;&amp;#xA0;All material
intercompany transactions have been eliminated on
consolidation.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The consolidated financial statements have been restated for all
periods prior to the mergers to include the financial position,
results of operations and cash flows of the commonly controlled
companies.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(d)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Use
of Estimates&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company&amp;#x2019;s consolidated financial statements have been
prepared in accordance with accounting principles generally
accepted in the United States of America and this requires
management to make estimates and assumptions that affect the
reported amounts of assets and liabilities at the date of the
consolidated financial statements and the reported amounts of
revenues and expenses during the reporting period.&amp;#xA0;&amp;#xA0;The
Company bases its estimates on historical experience and on various
other assumptions that are believed to be reasonable under the
circumstances.&amp;#xA0;&amp;#xA0;The most significant accounting estimates
with regard to these consolidated financial statements that require
the most significant and subjective judgments include, but are not
limited to, useful lives of property, plant and equipment,
recoverability of long-lived assets, determination of impairment
losses, assessment of market value of inventories and provision for
inventory obsolescence, allowance for doubtful accounts,
recognition and measurement of current and deferred income taxes,
valuation allowance for deferred tax assets, and assumptions used
for the valuation of share based payments.&amp;#xA0;&amp;#xA0;Accordingly,
actual results may differ significantly from these estimates under
different assumptions or conditions.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(e)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Cash
and Cash Equivalents&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Cash and cash equivalents consist of all cash balances and highly
liquid investments with original maturities of three months or
less. Because of short maturity of these investments, the carrying
amounts approximate their fair values.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(f)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Accounts
Receivable and Allowance of Doubtful Accounts&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Accounts receivable is stated at cost, net of allowance for
doubtful accounts. The Company establishes an allowance for
doubtful accounts based on management&amp;#x2019;s assessment of the
collectability of trade and other receivables. A considerable
amount of judgment is required in assessing the amount of allowance
and the Company considers the historical level of credit losses and
applies certain percentage to accounts receivable balance. The
Company makes judgments about the credit worthiness of each
customer based on ongoing credit evaluations, and monitors current
economic trends that might impact the level of credit losses in the
future. If the financial condition of the customer begins to
deteriorate, resulting in their inability to make payments, a
larger allowance may be required.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
As of December 31, 2011 and 2010, allowance for doubtful accounts
were nil. No allowances for doubtful accounts were charged to the
income statement for the years ended December 31, 2011, 2010 and
2009.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(g)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Concentration
of Credit Risk&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company is exposed to credit risk in the normal course of
business, primarily related to accounts receivable and cash and
cash equivalents. Substantially all of the Company&amp;#x2019;s cash and
cash equivalents are maintained with financial institutions in the
PRC, namely, Industrial and Commercial Bank of China Limited and
China Merchants Bank Company Limited, which are not insured or
otherwise protected. The Company placed $78,526,060 and $68,444,480
with these institutions as of December 31, 2011 and 2010,
respectively.&amp;#xA0;&amp;#xA0;The Company has not experienced any losses
in such accounts in the PRC.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;Concentrations of credit
risk with respect to accounts receivable exists as the Company
sells a substantial portion of its products to a limited number of
customers. However, such concentrations of credit risks are limited
since the Company performs ongoing credit evaluations of its
customers&amp;#x2019; financial condition and due to the generally short
payment terms.&lt;/font&gt; &lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;The balances of accounts
receivable as of December 31, 2011 and 2010 are all amounts
outstanding for less than three months.&lt;/font&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(h)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Inventories&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Inventories are stated at the lower of cost, determined on a
first-in first-out cost basis, or market. Costs of work-in-progress
and finished goods comprise direct materials, direct labor and an
attributable portion of manufacturing overhead. Net realizable
value is based on estimated selling price less costs to complete
and selling expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(i)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;
Property, Plant and Equipment&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Property, plant and equipment are stated at cost less accumulated
depreciation and any impairment losses. Expenditures for new
facilities or equipment, and major expenditures for betterment of
existing facilities or equipment are capitalized and depreciated
using the straight-line method at rates sufficient to depreciate
such costs over the estimated productive lives. All other ordinary
repair and maintenance costs are expensed as incurred.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Mineral rights are recorded at cost less accumulated depreciation
and any impairment losses. Mineral rights are amortized ratably
over the term of the lease, or the equivalent term under the units
(in tonnes) of production method, whichever is shorter.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Construction in progress primarily represents direct costs of
construction of property, plant and equipment. Costs incurred are
capitalized and transferred to property, plant and equipment upon
completion, at which time depreciation commences.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company&amp;#x2019;s depreciation and amortization policies on
property, plant and equipment other than mineral rights and
construction in progress are as follows:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 80%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Useful&amp;#xA0;life&lt;br /&gt;
(in&amp;#xA0;years)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Buildings (including salt pans)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center"&gt;8 - 20&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Plant and machinery (including
protective shells, transmission channels and ducts)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center"&gt;5 - 8&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 87%"&gt;Motor vehicles&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; WIDTH: 10%"&gt;5&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Furniture, fixtures and equipment&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center"&gt;8&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;In April
2011, the Company changed the estimated useful life of certain
protective shells and transmission channels and ducts that included
in plant and machinery from 8 years to 5 years.&lt;/font&gt; &lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;Initially, the Company
expected the protective shells&amp;#x2019; useful lives would be 8 years
with reference to the past wear and tear experienced in 2005. In
view of the increased rate of erosion experienced in last 2 years,
which reduced the volume of brine water flowing into the bromine
production process and adversely affected the annual bromine and
crude salt production capacities and efficiencies; and the recent
directional information from the Crude Salt Institutional
Association in Shandong Province, PRC, which indicated that the
latest erosion rate would be 20% per annum, the Company reduced the
useful lives of such protective shells to 5 years to reflect the
most productive cycle. Changes in estimates are accounted for on a
prospective basis, by depreciating those plant and machinery
current carrying values over their revised remaining useful lives.
The effect of this change in estimate, compared to the original
depreciation, for fiscal year 2011 was a pre-tax increment in
depreciation expense of $975,517. The pre-tax increase (decrease)
to depreciation expense in future periods is expected to be
$1,115,252, $836,863, $219,197, ($380,464), ($1,225,851),
($927,600), ($566,456) and ($46,457) in the eight years ending
December 31, 2019.&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Property, plant and equipment under capital leases are depreciated
over their expected useful lives on the same basis as owned assets,
or where shorter, the term of the lease, which is 20 years.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(j)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Asset
Retirement Obligation&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company follows FASB ASC 410, which established a uniform
methodology for accounting for estimated reclamation and
abandonment costs. FASB ASC 410 requires the fair value of a
liability for an asset retirement obligation to be recognized in
the period in which the legal obligation associated with the
retirement of the long-lived asset is incurred. When the liability
is initially recorded, the offset is capitalized by increasing the
carrying amount of the related long-lived asset. Over time, the
liability is accreted to its present value each period, and the
capitalized cost is depreciated over the useful life of
the&amp;#xA0;related asset. To settle the liability, the obligation is
paid, and to the extent there is a difference between the liability
and the amount of cash paid, a gain or loss upon settlement is
recorded.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Currently, there are no reclamation or abandonment obligations
associated with the land being utilized for exploitation.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(k)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Recoverability
of Long Lived Assets&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In accordance with ASC 360-10-35 &amp;#x201C;Impairment or Disposal of
Long-lived Assets&amp;#x201D;, long-lived assets to be held and used are
analyzed for impairment whenever events or changes in circumstances
indicate that the carrying amount of an asset may not be fully
recoverable or that the useful lives of those assets are no longer
appropriate. The Company evaluates at each balance sheet date
whether events and circumstances have occurred that indicate
possible impairment.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company determines the existence of such impairment by
measuring the expected future cash flows (undiscounted and without
interest charges) and comparing such amount to the carrying amount
of the assets. An impairment loss, if one exists, is then measured
as the amount by which the carrying amount of the asset exceeds the
discounted estimated future cash flows. Assets to be disposed of
are reported at the lower of the carrying amount or fair value of
such assets less costs to sell. Asset impairment charges are
recorded to reduce the carrying amount of the long-lived asset that
will be sold or disposed of to their estimated fair values. Charges
for the asset impairment reduce the carrying amount of the
long-lived assets to their estimated salvage value in connection
with the decision to dispose of such assets.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In accordance with the provisions of the FASB ASC 360-10
&amp;#x201C;Impairment or Disposal of Long-lived Assets&amp;#x201D;
subsections, (i) owned long-lived assets held and used with a
carrying amount of $9,421,857 were written down to their fair value
of $7,616,259, resulting in an impairment charge of $1,805,598,
which was included in earnings for the year ended December 31,
2011; and (ii) long-lived assets held and used under capital lease
with a carrying amount of $3,051,054 were written down to their
fair value of $2,368,008, resulting in an impairment charge of
$683,046, which was included in earnings for the year ended
December 31, 2011. The following table sets forth the fair value
and related impairment charges for the year ended December 31,
2011:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10"&gt;Fair&amp;#xA0;Value&amp;#xA0;Measurements&amp;#xA0;Using&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid"&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Description&lt;/p&gt;
&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Year&amp;#xA0;ended&lt;br /&gt;
December&amp;#xA0;31,&lt;br /&gt;
2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Quoted&amp;#xA0;Prices&amp;#xA0;in&lt;br /&gt;
Active&amp;#xA0;Markets&amp;#xA0;for&lt;br /&gt;
Identical&amp;#xA0;Assets&lt;br /&gt;
(Level&amp;#xA0;1)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Significant&amp;#xA0;Other&lt;br /&gt;
Observable&amp;#xA0;Inputs&lt;br /&gt;
(Level&amp;#xA0;2)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Significant&lt;br /&gt;
Unobservable&lt;br /&gt;
Inputs&lt;br /&gt;
(Level&amp;#xA0;3)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid" colspan="2"&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt"&gt;
Total&amp;#xA0;Gains&amp;#xA0;(Losses)&lt;/p&gt;
&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -7.05pt; PADDING-LEFT: 7.05pt; WIDTH: 35%"&gt;
Owned long-lived assets (plant and machinery) held and used&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;7,616,259&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;7,616,259&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;(1,805,598&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; TEXT-INDENT: -7.05pt; PADDING-LEFT: 7.05pt"&gt;
Long-lived assets (plant and machinery) held under capital lease
and used&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;2,368,008&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;2,368,008&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(683,046&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
(2,488,644&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;The above
owned long-lived assets, which is classified as Level 3 in the fair
value hierarchy, was valued using a discounted cash flow model
incorporating assumptions that, in management&amp;#x2019;s judgment,
reflect the assumptions marketplace participants would use at
December 31, 2011.&lt;/font&gt; &lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;Such assumptions
included an estimate of future cash flows and a discount rate based
on the 5-year PRC Treasury bill rate.&lt;/font&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The long-lived assets held under capital lease, which is classified
as Level 2 in the fair value hierarchy, was valued by an
independent appraiser using the market approach, which included
mainly quoted prices for similar assets.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company determined that no impairment was required after going
through the impairment testing to the operating long-lived assets
as of December 31, 2010.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(l)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Retirement
Benefits&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Pursuant to the relevant laws and regulations in the PRC, the
Company participates in a defined contribution retirement plan for
its employees arranged by a governmental organization. The Company
makes contributions to the retirement scheme at the applicable rate
based on the employees&amp;#x2019; salaries. &amp;#xA0;The required
contributions under the retirement plans are charged to the
consolidated income statement on an accrual basis when they are
due. &amp;#xA0;The Company&amp;#x2019;s contributions totaled $431,428,
$457,805 and $270,324 for the years ended December 31, 2011, 2010
and 2009, respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(m)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Mineral
Rights&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company follows FASB ASC 805 &amp;#x201C;Business
Combinations&amp;#x201D; that certain mineral rights are considered
tangible assets and that mineral rights should be accounted for
based on their substance. Mineral rights are included in property,
plant and equipment.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(n)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Leasing
arrangements&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Rentals payable under operating leases are charged to the
statements of income on a straight line basis over the term of the
relevant lease. For capital leases, the present value of future
minimum lease payments at the inception of the lease is reflected
as an asset and a liability in the statement of financial position.
Amounts due within one year are classified as short-term
liabilities and the remaining balance as long-term liabilities.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(o)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Reporting
Currency and Translation&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The financial statements of the Company&amp;#x2019;s foreign
subsidiaries are measured using the local currency, Renminbi
(&amp;#x201C;RMB&amp;#x201D;), as the functional currency; whereas the
functional currency and reporting currency of the Company is the
United States dollar (&amp;#x201C;USD&amp;#x201D; or &amp;#x201C;$&amp;#x201D;).&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
As such, the Company uses the &amp;#x201C;current rate method&amp;#x201D; to
translate its PRC operations from RMB into USD, as required under
ASC 830 &amp;#x201C;Foreign Currency Matters&amp;#x201D;. The assets and
liabilities of its PRC operations are translated into USD using the
rate of exchange prevailing at the balance sheet date. The capital
accounts are translated at the historical rate. Adjustments
resulting from the translation of the balance sheets of the
Company&amp;#x2019;s PRC subsidiaries are recorded in
stockholders&amp;#x2019; equity as part of accumulated comprehensive
income. The statement of income and comprehensive income is
translated at average rates during the reporting period. Gains or
losses resulting from transactions in currencies other than the
functional currencies are recognized in net income for the
reporting periods as part of general and administrative expense.
The statement of cash flows is translated at average rates during
the reporting period, with the exception of issuance of shares and
payment of dividends which are translated at historical rates.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(p)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Foreign
Operations&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
All of the Company&amp;#x2019;s operations and assets are located in
PRC.&amp;#xA0;&amp;#xA0;The Company may be adversely affected by possible
political or economic events in this country.&amp;#xA0;&amp;#xA0;The effect
of these factors cannot be accurately predicted.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(q)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Revenue
Recognition&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company recognizes revenue, net of value-added tax, when
persuasive evidence of an arrangement exists, delivery of the goods
has occurred, customer acceptance has been obtained, which means
the significant risks and ownership have been transferred to the
customer, the price is fixed or determinable and collectability is
reasonably assured.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(r)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Income
Taxes&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company accounts for income taxes in accordance with the Income
Taxes Topic of the FASB ASC, which requires the use of the
liability method of accounting for deferred income taxes. Under
this method, deferred income taxes are recorded to reflect the tax
consequences on future years of temporary differences between the
tax basis of assets and liabilities and their reported amounts at
each period end. If it is more likely than not that some portion or
all of a deferred tax asset will not be realized, a valuation
allowance is recognized. The guidance also provides criteria for
the recognition, measurement, presentation and disclosures of
uncertain tax positions. A tax benefit from an uncertain tax
position may be recognized if it is &amp;#x201C;more likely than
not&amp;#x201D; that the position is sustainable based solely on its
technical merits.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(s)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Exploration
Costs&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Exploration costs, which included the cost of researching
appropriate places to drill wells and the cost of actual drilling
of potential natural brine resources, were charged to the income
statement as incurred. For the year ended December 31, 2011, the
Company incurred exploration costs in the amount of $7,034,153, in
Sichuan province, PRC, for the drilling of exploratory wells and
their associated facilities in order to confirm and measure the
natural brine resources in the area of drilling. The Company
completed the drilling of exploratory wells in December 2011 and
received a testing report in mid-January 2012 which confirmed the
underground brine water resources.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(t)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Shipping
and Handling Fees and Costs&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company does not charge its customers for shipping and handling
as all customers arrange their own transportation of finished
goods. The Company classifies shipping and handling costs for
purchase of raw materials as part of the cost of net revenue, which
amounted to $506,331, $567,686 and $492,582 for the years ended
December 31, 2011, 2010 and 2009, respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(u)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Contingencies&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company accrues for costs relating to litigation, including
litigation defense costs, claims and other contingent matters,
including liquidated damage liabilities, when such liabilities
become probable and reasonably estimable. Such estimates may be
based on advice from third parties or on management&amp;#x2019;s
judgment, as appropriate. Revisions to accruals are reflected in
earnings (loss) in the period in which different facts or
information become known or circumstances change that affect the
Company&amp;#x2019;s previous assumptions with respect to the likelihood
or amount of loss. Amounts paid upon the ultimate resolution of
such liabilities may be materially different from previous
estimates.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;/p&gt;
&lt;p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(v)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Stock-based
Compensation&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Common stock, stock options and stock warrants issued to employees
or directors are recorded at their fair values estimated at grant
date using the Black-Scholes model and the portion that is
ultimately expected to vest is recognized as compensation cost over
the requisite service period.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Common stock, stock options and stock warrants issued to other than
employees or directors are recorded on the basis of their fair
value using the Black-Scholes model on the basis of the market
price of the underlying common stock on the &amp;#x201C;valuation
date,&amp;#x201D; which for options and warrants related to contracts
that have substantial disincentives to non-performance is the date
of the contract, and for all other contracts the measurement date
is the date that the service is complete. Expense related to the
options and warrants is recognized on a straight-line basis over
the shorter of the period over which services are to be received or
the vesting period. Where expense must be recognized prior to a
valuation date, the expense is computed under the Black-Scholes
model on the basis of the market price of the underlying common
stock at the end of the period, and any subsequent changes in the
market price of the underlying common stock up through the
valuation date is reflected in the expense recorded in the
subsequent period in which that change occurs.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(w)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Basic
and Diluted Net Income per Share of Common Stock&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Basic earnings per common share are based on the weighted average
number of shares outstanding during the periods
presented.&amp;#xA0;&amp;#xA0;Diluted earnings per share are computed using
weighted average number of common shares plus dilutive common share
equivalents outstanding during the period.&amp;#xA0;&amp;#xA0;Anti-dilutive
common stock equivalents which were excluded from the calculation
of number of dilutive common stock equivalents amounted to 535,449,
14,250 and 305,449 shares for the years ended December 31, 2011,
2010 and 2009, respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
following table sets forth the computation of basic and diluted
earnings per share:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10"&gt;Years&amp;#xA0;ended&amp;#xA0;December&amp;#xA0;31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2009&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Numerator&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt; WIDTH: 61%"&gt;Net
income&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;30,952,760&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;51,283,320&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;30,591,415&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Denominator&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -9.35pt; PADDING-LEFT: 18.7pt"&gt;
Basic: Weighted-average common shares outstanding during the
year&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;34,660,866&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;34,614,667&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;30,698,824&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 9pt"&gt;Add:
Dilutive effect of stock options&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
12,749&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
60,662&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
2,873&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-LEFT: 9pt"&gt;Diluted&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;34,673,615&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;34,675,329&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;30,701,697&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Net income per share&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt"&gt;Basic&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
0.89&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
1.48&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
1.00&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt"&gt;Diluted&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
0.89&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
1.48&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
1.00&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(x)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Reclassification&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company reclassified mineral resources compensation fees,
previously included in &amp;#x201C;General and administrative
expenses&amp;#x201D;, for year ended December 31, 2009 into &amp;#x201C;Cost
of net revenue&amp;#x201D; and sales of wastewater and gain or loss on
disposal of property, plant and equipment, previously included in
&amp;#x201C;Other Income (Expense)&amp;#x201D; after &amp;#x201C;Income from
Operations&amp;#x201D;, for the years ended December 31, 2010 and 2009
into &amp;#x201C;Other operating income&amp;#x201D; for sales of wastewater
and gain on disposal of property, plant and equipment and
&amp;#x201C;General and administrative expenses&amp;#x201D; for loss on
disposal of property, plant and equipment to conform to the current
year presentation. The above reclassifications had no impact on
previously reported net income for the years ended December 31,
2010 and 2009.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(y)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Recently
adopted accounting pronouncements&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In October 2009, the FASB issued Accounting Standard Update
(&amp;#x201C;ASU&amp;#x201D;) No.&amp;#xA0;2009-13, &amp;#x201C;Multiple-Delivery
Revenue Arrangements&amp;#x201D; (&amp;#x201C;ASU 2009-13&amp;#x201D;), which
establishes the accounting and reporting guidance for arrangements
including multiple deliverable revenue-generating activities, and
provides amendments to the criteria for separating deliverables,
and measuring and allocating arrangement consideration to one or
more units of accounting.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(y)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Recently
adopted accounting pronouncements &amp;#x2013; Continued&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The amendments of ASU 2009-13 also establish a hierarchy for
determining the selling price of a deliverable, and require
significantly enhanced disclosures to provide information about a
vendor&amp;#x2019;s multiple-deliverable revenue arrangements, including
information about their nature and terms, significant deliverables,
and the general timing of delivery. The amendments also require
disclosure of information about the significant judgments made and
changes to those judgments, and about how the application of the
relative selling price method affects the timing or amount of
revenue recognition. The amendments of ASU 2009-13 are effective
prospectively for revenue arrangements entered into or materially
modified in annual reporting periods beginning on or after
June&amp;#xA0;15, 2010. On January 1, 2011, the Company adopted ASU
2009-13 on a prospective basis. The adoption did not have a
material impact on the Company&amp;#x2019;s financial position or
results of operations, but could have an impact on how the Company
accounts for any future collaboration agreements, should the
Company enter into any such agreements in the future.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In January 2010, FASB issued ASU No. 2010-06, &amp;#x201C;Fair Value
Measurements and Disclosures (Topic 820) &amp;#x2013; Improving
Disclosures about Fair Value Measurements&amp;#x201D;
(&amp;#x201C;ASU2010-06&amp;#x201D;). This update provides amendments to ASC
Topic 820 that provide disclosures about purchases, sales,
issuances, and settlements in the roll forward of activity in Level
3 fair value measurements. Those disclosures are effective for
fiscal years beginning after December 15, 2010, and for interim
periods within those fiscal years. The Company adopted the
disclosure requirements effective January 1, 2011. The adoption of
this update did not have a material impact to the Company&amp;#x2019;s
financial position.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(z)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Recently
issued accounting pronouncements not yet adopted&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In May 2011, FASB issued ASU No. 2011-04, &amp;#x201C;Fair Value
Measurement (Topic 82) &amp;#x2013; Amendments to Achieve Common Fair
Value Measurement and Disclosure Requirements in U.S. GAAP and
IFRSs&amp;#x201D; (&amp;#x201C;ASU 2011-04&amp;#x201D;). The amendments in this
update will ensure that fair value has the same meaning in U.S.
GAAP and in IFRS and that their respective fair value measurement
and disclosure requirements are the same. This update is effective
prospectively for interim and annual periods beginning after
December 15, 2011. Early adoption by public entities is not
permitted, and the Company is therefore required to adopt this ASU
on January 1, 2012. The Company is evaluating the guidance and does
not expect its adoption to have a material impact on the
Company&amp;#x2019;s results of operations, financial position or cash
flows.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In June 2011, FASB issued ASU No. 2011-05, Comprehensive Income
(&amp;#x201C;ASU 2011-05&amp;#x201D;), which will require companies to
present the components of net income and other comprehensive income
(&amp;#x201C;OCI&amp;#x201D;) either as one continuous statement or as two
consecutive statements. ASU 2011-05 eliminates the option to
present components of OCI as part of the statement of changes in
stockholders&amp;#x2019; equity. The update does not change the items
which must be reported in OCI, how such items are measured or when
they must be reclassified to net income. In December 2011, FASB
issued ASU No. 2011-12, &amp;#x201C;Deferral of the Effective Date for
Amendments to the Presentation of Reclassifications of Items Out of
Accumulated Other Comprehensive Income in ASU 2011-05&amp;#x201D;
(&amp;#x201C;ASU 2011-12&amp;#x201D;), which defers the requirement in ASU
2011-05 that companies present reclassification adjustments for
each component of accumulated OCI and OCI. ASU 2011-05 was set to
be effective for interim and annual periods beginning after
December 15, 2011, but is deferred by ASU 2011-12. The Company does
not expect ASU 2011-05 or ASU 2011-12 to have a material impact on
its financial statements or results of operations.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In December 2011, FASB issued ASU No. 2011-11, &amp;#x201C;Disclosures
about Offsetting Assets and Liabilities&amp;#x201D; (&amp;#x201C;ASU
2011-11&amp;#x201D;), which will require disclosures for entities with
financial instruments and derivatives that are either offset on the
balance sheet in accordance with ASC 210-20-45 or ASC 815-10-45, or
subject to a master netting arrangement. ASU 2011-11 is effective
for interim and annual periods beginning on or after January 1,
2013. The Company has not completed its review of ASU 2011-11, but
it does not expect its adoption to have a material impact on the
Company&amp;#x2019;s results of operations, financial position or cash
flows.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company does not believe that any other accounting standards
and guidance with an effective date during year ended December 31,
2011 or issued during 2011 had or are expected to have a
significant impact on the Company&amp;#x2019;s consolidated financial
statements and the disclosures presented in the consolidated
financial statements.&lt;/p&gt;


&lt;/div&gt;</us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock>
  <us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">-51973728</us-gaap:NetCashProvidedByUsedInInvestingActivities>
  <us-gaap:InvestmentIncomeInterest contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">269614</us-gaap:InvestmentIncomeInterest>
  <us-gaap:SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
NOTE 17 &amp;#x2013; MAJOR SUPPLIERS&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;
During the year ended December 31, 2011, the Company purchased
80.7% of its raw materials from its top five suppliers. At December
31, 2011, amounts due to those suppliers included in accounts
payable were $2,883,384.&amp;#xA0;&amp;#xA0;During the year ended December
31, 2010, the Company purchased 89.1% of its raw materials from its
top five suppliers.&amp;#xA0;&amp;#xA0;At December 31, 2010, amounts due to
those suppliers included in accounts payable were
$5,126,619.&amp;#xA0;&amp;#xA0;During the year ended December 31, 2009, the
Company purchased 49.5% of its raw materials from its top five
suppliers.&amp;#xA0;&amp;#xA0;At December 31, 2009, amounts due to those
suppliers included in accounts payable were $4,016,890. This
concentration makes the Company vulnerable to a near-term severe
impact, should the relationships be terminated.&lt;/p&gt;
&lt;/div&gt;</us-gaap:SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock>
  <us-gaap:CapitalLeaseObligationsIncurred contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">3127913</us-gaap:CapitalLeaseObligationsIncurred>
  <us-gaap:PaymentsToAcquireOtherProductiveAssets contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">406380</us-gaap:PaymentsToAcquireOtherProductiveAssets>
  <us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">-995713</us-gaap:IncreaseDecreaseInAccountsReceivable>
  <us-gaap:IncomeTaxesPaid contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">18794465</us-gaap:IncomeTaxesPaid>
  <us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">12493402</us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease>
  <us-gaap:Revenues contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">164980453</us-gaap:Revenues>
  <us-gaap:SegmentReportingDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 16 &amp;#x2013; BUSINESS SEGMENTS&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company has three reportable segments:&amp;#xA0;&amp;#xA0;bromine,
crude salt and chemical products.&amp;#xA0;&amp;#xA0;The reportable
segments are consistent with how management views the markets
served by the Company and the financial information that is
reviewed by its chief operating decision maker. The Company manages
its sensors and controls businesses as components of an enterprise
for which separate information is available and is evaluated
regularly by the chief operating decision maker in deciding how to
allocate resources and assess performance.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
An operating segment&amp;#x2019;s performance is primarily evaluated
based on segment operating income, which excludes share-based
compensation expense, certain corporate costs and other income not
associated with the operations of the segment. These corporate
costs (income) are separately stated below and also include costs
that are related to functional areas such as accounting, treasury,
information technology, legal, human resources, and internal audit.
The Company believes that segment operating income, as defined
above, is an appropriate measure for evaluating the operating
performance of its segments.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;Year Ended&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Crude&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Chemical&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Segment&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"&gt;
December 31, 2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Bromine *&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Salt *&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Products&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Total&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Corporate&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Total&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 28%"&gt;Net revenue (external
customers)&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;107,849,304&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;15,918,655&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;41,212,494&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;164,980,453&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;164,980,453&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Net revenue (intersegment)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,979,826&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,979,826&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,979,826&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Income (loss) from operations before
taxes&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;37,023,963&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;7,688,190&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;10,237,586&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;54,949,739&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(10,651,281&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;44,298,458&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Income taxes&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;9,373,961&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,466,421&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,562,489&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;13,402,871&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;13,402,871&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Income (loss) from operations after
taxes&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;27,650,002&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;6,221,769&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;7,675,097&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;41,546,868&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(10,651,281&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;30,895,587&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Total assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;160,421,921&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;51,109,956&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;46,010,276&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;257,542,153&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;785,546&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;258,327,699&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Depreciation and amortization&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;11,584,237&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;3,496,310&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,616,892&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;17,697,439&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;17,697,439&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Capital expenditures&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;34,792,502&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;20,331,308&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,197,331&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;56,321,141&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;56,321,141&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Write-off / Impairment&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;3,749,435&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,015,533&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,805,598&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;7,570,566&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;7,570,566&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;Year Ended&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Crude&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Chemical&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Segment&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"&gt;
December 31, 2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Bromine *&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Salt *&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Products&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Total&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Corporate&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Total&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 28%"&gt;Net revenue (external
customers)&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;99,211,812&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;14,971,774&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;44,151,437&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;158,335,023&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;158,335,023&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Net revenue (intersegment)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;3,972,997&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;3,972,997&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;3,972,997&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Income (loss) from operations before
taxes&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;48,474,611&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;11,360,476&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;12,218,613&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;72,053,700&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(2,957,467&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;69,096,233&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Income taxes&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;12,943,451&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,040,287&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;3,071,111&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;18,054,849&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;18,054,849&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Income (loss) from operations after
taxes&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;35,531,160&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;9,320,189&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;9,147,502&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;53,998,851&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(2,957,467&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;51,051,384&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Total assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;128,513,686&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;39,696,781&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;38,153,844&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;206,364,311&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;356,713&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;206,721,024&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Depreciation and amortization&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;7,570,660&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,286,253&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,240,236&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;11,097,149&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;11,097,149&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Capital expenditures&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;19,458,955&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;13,712,849&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;7,483,230&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;40,655,034&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;40,655,034&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;font style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;#xA0;&lt;/font&gt;&lt;font style="COLOR: black"&gt;&amp;#xA0;&lt;/font&gt;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;Year Ended&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Crude&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Chemical&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Segment&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold"&gt;
December 31, 2009&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Bromine *&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Salt *&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Products&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Total&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Corporate&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Total&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 28%"&gt;Net revenue (external
customers)&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;63,679,888&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;10,650,698&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;35,946,322&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;110,276,908&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 9%"&gt;110,276,908&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Net revenue (intersegment)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,073,502&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,073,502&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,073,502&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Income (loss) from operations before
taxes&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;25,098,035&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;7,328,045&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;12,530,417&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;44,956,497&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(3,244,411&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;41,712,086&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Income taxes&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;6,898,130&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,153,738&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;3,132,530&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;11,184,398&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;11,184,398&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Income (loss) from operations after
taxes&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;18,199,905&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;6,174,307&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;9,397,887&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;33,772,099&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(3,244,411&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;30,527,688&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Total assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;96,216,832&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;19,404,626&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;28,274,118&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;143,895,576&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,527,592&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;146,423,168&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Depreciation and amortization&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;5,182,245&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;866,750&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,150,663&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;7,199,658&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;7,199,658&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Capital expenditures&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;30,898,856&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;5,167,949&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;8,838,440&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;44,905,245&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;44,905,245&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
* Certain common production overheads, operating and administrative
expenses and asset items (mainly cash and certain office equipment)
of bromine and crude salt segments in SCHC were split by reference
to the average selling price and production volume of respective
segment.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Years ended December 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid"&gt;Reconciliations&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2009&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 61%"&gt;Total segment operating
income&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;54,949,739&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;72,053,700&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;44,956,497&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Corporate
costs&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(10,651,281&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(2,957,467&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(3,244,411&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Income from operations&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;44,298,458&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;69,096,233&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;41,712,086&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Other income&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
57,173&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
241,936&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
63,727&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Income before
taxes&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
44,355,631&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
69,338,169&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
41,775,813&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The following table shows the major customer(s) (10% or more) for
the year ended December&amp;#xA0;31, 2011.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Chemical&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Total&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap"&gt;Percentage of&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Bromine&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Crude
Salt&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Products&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Revenue&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Total&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;
Number&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Customer&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;(000&amp;#x2019;s)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;(000&amp;#x2019;s)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;(000&amp;#x2019;s)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;(000&amp;#x2019;s)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Revenue&amp;#xA0;(%)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1pt; VERTICAL-ALIGN: top"&gt;
1&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt" colspan="2"&gt;
Shandong Morui Chemical Company Limited&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
13,864&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
3,020&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
2,663&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
19,547&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
11.9&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; WIDTH: 9%; FONT-WEIGHT: bold"&gt;
TOTAL&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 23%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;13,864&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;3,020&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;2,663&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;19,547&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;11.9&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The following table shows the major customer(s) (10% or more) for
the year ended December 31, 2010.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Chemical&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Total&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap"&gt;Percentage of&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Bromine&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Crude
Salt&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Products&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Revenue&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Total&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;
Number&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Customer&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;(000&amp;#x2019;s)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;(000&amp;#x2019;s)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;(000&amp;#x2019;s)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;(000&amp;#x2019;s)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Revenue&amp;#xA0;(%)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1pt; VERTICAL-ALIGN: top; TEXT-DECORATION: none"&gt;
1&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt" colspan="2"&gt;
Shouguang City Rongyuan Chemical Company Limited&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
13,106&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
3,634&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
16,740&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
10.6&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; WIDTH: 9%; FONT-WEIGHT: bold"&gt;
TOTAL&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 23%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;13,106&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;3,634&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;16,740&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;10.6&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The following table shows the major customer(s) (10% or more) for
the year ended December&amp;#xA0;31, 2009.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Chemical&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Total&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap"&gt;Percentage of&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Bromine&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Crude
Salt&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Products&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Revenue&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Total&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;
Number&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Customer&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;(000&amp;#x2019;s)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;(000&amp;#x2019;s)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;(000&amp;#x2019;s)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;(000&amp;#x2019;s)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Revenue&amp;#xA0;(%)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; VERTICAL-ALIGN: top"&gt;1&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left" colspan="2"&gt;Shandong Morui Chemical
Company Limited&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;9,533&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,940&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;11,473&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;10.4&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1pt; VERTICAL-ALIGN: top; TEXT-DECORATION: none"&gt;
2&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt" colspan="2"&gt;
Shouguang City Rongyuan Chemical Company Limited&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
9,448&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
1,991&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
11,439&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
10.4&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center; WIDTH: 9%; FONT-WEIGHT: bold"&gt;
TOTAL&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 23%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;18,981&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;3,931&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;22,912&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;20.8&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:SegmentReportingDisclosureTextBlock>
  <us-gaap:LeasesOfLesseeDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 2 &amp;#x2013; ASSETS ACQUISITIONS&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
On January 7, 2009, the Company&amp;#xA0;acquired substantially all of
the assets owned by Qiufen Yuan, Han Wang and Yufen Zhang in
the&amp;#xA0;Shouguang City Renjiazhuangzi Village North Area (the
&amp;#x201C;Qiufen Yuan, Han Wang &amp;amp; Yufen Zhang property&amp;#x201D; or
&amp;#x201C;Factory No. 7&amp;#x201D;). The Qiufen Yuan, Han Wang and Yufen
Zhang property includes a 50-year land lease covering 1,611 acres
of real property, with the related production facility, the
pipelines, other production equipment, and the buildings located on
the property. The total purchase price for the acquired assets was
$10,615,000, consisting of $10,000,000 in cash and 375,000 shares
of the Company&amp;#x2019;s Common Stock valued at $615,000 (fair
value).&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
On September 7, 2009, the Company acquired substantially all of the
assets owned by Yuliang Gao, Han Wang and Qing Yang in the
Shouguang City Yingli Township Beishan Village (the &amp;#x201C;Yuliang
Gao, Han Wang &amp;amp; Qing Yang property&amp;#x201D; or &amp;#x201C;Factory No.
8&amp;#x201D;).&amp;#xA0; Fengxia Yuan acted as Attorney-in-Fact for one of
the owners of Factory 8, Yuliang Gao, and entered into the
acquisition agreement relating to Factory 8 on behalf of Yuliang
Gao. The Yuliang Gao, Han Wang and Qing Yang property includes a
50-year land lease covering 2,723 acres of real property, with the
related production facility, the pipelines, other production
equipment, and the buildings located on the property. The total
purchase price for the acquired assets was $16,930,548, consisting
of $11,516,960 in cash and 1,057,342 shares of the Company&amp;#x2019;s
Common Stock valued at $5,413,588 (fair value).&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
On June 7, 2010, the Company acquired substantially all of the
assets owned by Jinjin Li and Qiuzhen Wang in the Shouguang City
Yangkou Township Yangzhuang Village (the &amp;#x201C;Jinjin Li and
Qiuzhen Wang property&amp;#x201D; or &amp;#x201C;Factory No.
9&amp;#x201D;).&amp;#xA0;Jinjin Li was acting individually and as
Attorney-in-Fact for four other owners of Factory 9, Yueliang Wang,
Kunming Tian, Gaoming Tian and Zhiqiang Wei. The Jinjin Li and
Qiuzhen Wang property includes a 50-year land lease covering 759
acres of real property, with the related production facility, the
pipelines, other production equipment, and the buildings located on
the property. The total purchase price for the acquired assets was
$13,905,719, consisting of $13,297,492 in cash and 70,560 shares of
the Company&amp;#x2019;s Common Stock valued at $608,227 (fair
value).&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
On December 30, 2010, SCHC acquired substantially all of the assets
owned by the State-Operated Shouguang Qingshuibo Farm (the
&amp;#x201C;Crude Salt Field&amp;#x201D;).&amp;#xA0;&amp;#xA0;The Crude Salt Field
includes a 30-year land lease covering 568 acres of crude salt
field, as well as the related fixtures and facilities located on
the crude salt field. The total purchase price for the Crude Salt
Field was $11,023,000 in cash consideration.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Pursuant to the lease contract signed by SCHC on November 5, 2010
with State-Operated Shouguang Qingshuibo Farm (the
&amp;#x201C;Lessor&amp;#x201D;), the Company recognized in January 2011 (1) a
20-year capital lease of a real property adjacent to Factory No. 1,
with the related production facility, channels and ducts, other
production equipment and the buildings located on the property,
with an annual payment of RMB1,877,000 (approximately $295,365) up
to December 31, 2030 to the Lessor, aggregating $3,127,913 (the
present value of the minimum lease payments); and (2) a 20-year
land lease and rights to new extraction wells on which the
aforesaid real property, production facilities, channels and ducts,
other production equipment and the buildings are situated, with an
annual payment of RMB3,123,000 (approximately $495,651) up to
December 31, 2030 to the Lessor. The lease was accounted for under
FASB ASC 840-10-25 &amp;#x201C;Leases &amp;#x2013; Recognition&amp;#x201D; and the
cost of $3,127,913 was included in property, plant equipment under
capital lease in the first quarter of 2011.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company also enhanced the new plant and machinery leased in the
first quarter of 2011 by making capital improvement in
reconstruction and renovation work at a cost of approximately
$3,050,400, which was recorded as buildings and plant and
machinery, for the operation of the aforesaid real property,
production facilities, channels and ducts, other production
equipment and the buildings located on the property.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In the second quarter of 2011, the Company carried out enhancement
projects to its existing bromine extraction and crude salt
production facilities. In particular, the Company incurred
reconstruction and renovation works at a cost of approximately
$12,379,153 for its crude salt fields in Factory No. 1, 5 to 9, and
at a cost of approximately $20,087,600 for its extraction wells and
transmission channels and ducts in Factory No. 1 to 9. The above
enhancement projects have estimated useful lives of 5 to 8 years
and are capitalized as buildings and plant and machinery.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
On December 22, 2011, the Company&amp;#xA0;acquired substantially all
of the assets owned by Liangcai Zhang in the&amp;#xA0;Shouguang City
Yangkou Township Area (the &amp;#x201C;Liangcai Zhang property&amp;#x201D; or
&amp;#x201C;Factory No. 10&amp;#x201D;). The Liangcai Zhang property includes
a 10-year land lease covering 1,700 acres of real property, with
the related production facility, the wells, pipelines, other
production equipment, and the buildings located on the property.
The total purchase price for the acquired assets was RMB63 million
(approximately $9,998,730) in cash. The Company expected to resume
production with the newly acquired assets by the end of first
quarter 2012 after repair and adjustments. A rental agreement was
subsequently signed in February 2012 with the State-Operated
Shandong Caiyangzi Saltworks for the lease of the parcel of land on
which the aforesaid real property, production facilities, the
wells, pipelines, other production equipment, and the buildings are
situated, with an annual payment of RMB688,000 (approximately
$109,192) up to December 31, 2021.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Each of the bromine factories and Crude Salt Field acquisitions
described above was not in operation when the Company acquired the
assets.&amp;#xA0;&amp;#xA0;The owners of each of the bromine factories did
not hold the proper license for the exploration and production of
bromine, and production at each of the assets acquired had
previously been halted by the government.&amp;#xA0;With respect to
Factory No. 7, the assets had not been operational for twelve
months; with respect to Factory No. 8, the assets had not been
operational for thirteen months; with respect to Factory No. 9, the
assets had not been operational for six months; and with respect to
Factory No. 10, the assets had not been operational for more than
six months. The Crude Salt Field had not been in operation for six
months. The Company recorded the above transactions as purchase of
assets.&lt;/p&gt;


&lt;/div&gt;</us-gaap:LeasesOfLesseeDisclosureTextBlock>
  <us-gaap:ExplorationExpense contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">7034153</us-gaap:ExplorationExpense>
  <us-gaap:CostsAndExpenses contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">120681995</us-gaap:CostsAndExpenses>
  <us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">59047429</us-gaap:NetCashProvidedByUsedInOperatingActivities>
  <us-gaap:ComprehensiveIncomeNetOfTax contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">43446162</us-gaap:ComprehensiveIncomeNetOfTax>
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">44355631</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <us-gaap:ShareBasedCompensation contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">7481400</us-gaap:ShareBasedCompensation>
  <us-gaap:EarningsPerShareDiluted contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD_per_shares" decimals="2">0.89</us-gaap:EarningsPerShareDiluted>
  <us-gaap:OtherOperatingIncome contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">1821010</us-gaap:OtherOperatingIncome>
  <us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">551636</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
  <us-gaap:PaymentsForProceedsFromOtherInvestingActivities contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">-1340026</us-gaap:PaymentsForProceedsFromOtherInvestingActivities>
  <us-gaap:InterestExpense contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">212441</us-gaap:InterestExpense>
  <us-gaap:DeferredIncomeTaxExpenseBenefit contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">-2569647</us-gaap:DeferredIncomeTaxExpenseBenefit>
  <us-gaap:TreasuryStockTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 13 &amp;#x2013; TREASURY STOCK&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In June 2011, the Company repurchased 100,500 shares of common
stock of the Company at an average price of $3.46 per share for a
total cost of $348,147 under the approval of the Board of
Directors. In September 2011, the Company repurchased 84,099 common
stock of the Company at an average price of $1.81 per share for a
total cost of $151,853 under the approval of the Board of
Directors. The Company recorded the entire purchase price of the
treasury stock as a reduction of equity.&lt;/p&gt;
&lt;/div&gt;</us-gaap:TreasuryStockTextBlock>
  <us-gaap:SubsequentEventsTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 24 &amp;#x2013; SUBSEQUENT EVENTS&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Management has evaluated subsequent events from December 31, 2011
to the date which our financial statements have been issued and
were available to be issued, and has concluded that no material
subsequent events have occurred since December 31, 2011 that
required recognition or disclosure in our current year financial
statements. Subsequent events that may occur after the date of
issue of financial statements have not been evaluated.&lt;/p&gt;
&lt;/div&gt;</us-gaap:SubsequentEventsTextBlock>
  <us-gaap:AmortizationOfLeasedAsset contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">424467</us-gaap:AmortizationOfLeasedAsset>
  <us-gaap:NetIncomeLoss contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">30952760</us-gaap:NetIncomeLoss>
  <us-gaap:NonoperatingIncomeExpense contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">57173</us-gaap:NonoperatingIncomeExpense>
  <us-gaap:LegalMattersAndContingenciesTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 23 &amp;#x2013; LEGAL PROCEEDINGS&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Lock-up Agreement&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company settled litigation in connection with 5,250,000 shares
of the Company&amp;#x2019;s Common Stock (the &amp;#x201C;Shares&amp;#x201D;)
pledged as collateral for certain loans from War Chest Capital
Multi-Strategy Fund LLC, War Chest Capital Partners, LLC and/or a
War Chest related entity (collectively, &amp;#x201C;War Chest&amp;#x201D;) to
Top King Group Limited (&amp;#x201C;Top King&amp;#x201D;), Billion Gold Group
Limited (&amp;#x201C;Billion Gold&amp;#x201D;), and Topgood International
Limited (&amp;#x201C;Topgood&amp;#x201D;) (collectively, the
&amp;#x201C;Holders&amp;#x201D;).&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In connection with the Amendment Agreement dated January 24, 2009
by and among the Company, SCHC, China Finance, Inc., Shenzhen Hua
Yin Guaranty and Investment Limited Liability Corporation (the
&amp;#x201C;Shenzhen Hua Yin&amp;#x201D;) and the Holders, the Company
entered into a Lock-up Agreement dated as of May 10, 2009 (the
&amp;#x201C;Lock-up Agreement&amp;#x201D;) with the Holders and the following
shareholders of the Company: Ming Yang, the Company&amp;#x2019;s
Chairman, Wenxiang Yu, the wife of Mr. Yang, Zhi Yang, the son of
Mr. Yang and Ms. Yu and Shandong Haoyuan Industry Group Ltd., of
which Mr. Yang is the controlling shareholder, chief executive
officer and a director (each a &amp;#x201C;Shareholder&amp;#x201D; and
collectively, the &amp;#x201C;Shareholders&amp;#x201D;).&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Under the Lock-up Agreement, the Holders and Shareholders agreed
that they have not and will not sell in a public transaction on the
Over the Counter Bulletin Board or on a national stock exchange, as
the case may be, any shares of the Company&amp;#x2019;s common stock
that the Holders and Shareholders presently own or may acquire on
or after May 10, 2009 (the &amp;#x201C;Lock-Up Shares&amp;#x201D;) during the
period commencing on May 10, 2009 and expiring on March 9, 2011
(the &amp;#x201C;Lock-up Period&amp;#x201D;). However, each Holder and
Shareholder has a right, solely in a private transaction, to
assign, trade, transfer, hypothecate, or pledge the Lock-Up Shares,
provided that in the case of a proposed private transaction by a
Holder: (i) the Holder complies with the provision of a right of
first refusal; and (ii) the transferee in such private transaction,
agrees to enter into the Lock-up Agreement prior to the Lock-Up
Shares being transferred to them.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In addition, subject to compliance with Rule 144 under the
Securities Act of 1933 (&amp;#x201C;Rule 144&amp;#x201D;), each Holder
further agreed in each month of the next twelve months following
the Lock-up Period not to transfer shares of the Company&amp;#x2019;s
common stock in an amount greater than two percent (2%) of the
total shares of the Company&amp;#x2019;s common stock issued and
outstanding in a public transaction, and each Shareholder further
agreed in each month of the next twelve months following the
Lock-up Period not to transfer shares of the Company&amp;#x2019;s common
stock in an amount greater than one percent (1%) of the total
shares of Common Stock issued and outstanding of the Company.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In March of 2010, the Company&amp;#x2019;s legal counsel was contacted
by the Holders&amp;#x2019; legal counsel with a request that the Holders
be allowed to pledge the Shares to War Chest as part of a loan
transaction (the &amp;#x201C;Loan&amp;#x201D;). On March 11, 2010, War
Chest&amp;#x2019;s legal counsel provided a letter confirming that War
Chest agreed to abide by the terms of the Lock-up Agreement with
respect to the Shares. The Company believes that on or about March
17, 2010 the Shares were transferred from the name of the Holders
to War Chest as collateral for the Loans.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Based on a Form 3 filed by HAP Trading, LLC (&amp;#x201C;HAP&amp;#x201D;)
with the Securities and Exchange Commission (&amp;#x201C;SEC&amp;#x201D;) on
November 10, 2010, the Company understood that, at least as of that
date, HAP held a European Call FLEX Option on the Shares
(&amp;#x201C;Option&amp;#x201D;). The Option permitted HAP to purchase a
total of 5,730,000 shares of Gulf Resources stock (representing
approximately 15% of the total outstanding shares of such stock)
for $0.125 each. Based on discussions with War Chest&amp;#x2019;s legal
counsel, the Company was informed that War Chest had used the
Shares to create the Option.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
After seeking&amp;#x2014;and not receiving&amp;#x2014;written assurances from
War Chest that it did not intend to violate the Lockup Agreement,
the Company commenced a litigation against War Chest and HAP by
filing a Summons and Complaint in the Supreme Court of the State of
New York, New York County, on January 20, 2011. The Summons and
Complaint alleges that the Shares are subject to the Lockup
Agreement and that War Chest and HAP are bound by the terms of the
Lockup Agreement. The lawsuit seeks a court order prohibiting the
sale or transfer of the Shares in violation of the Lockup
Agreement, attorney&amp;#x2019;s fees, and other relief.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
On January 26, 2011, HAP filed a Form 4 with the SEC disclosing
that it had exercised the Option on February 21, 2011 and had taken
possession of the Shares. On February 15, 2011, HAP filed an
additional Form 4/A disclosing that it had sold 280,000 shares of
Gulf Resources common stock on February 15, 2011 at $9.28 per
share, and an additional 372,809 shares at $9.358 in &amp;#x201C;open
market stock sales during the period 01/26/2011 to
02/15/2011&amp;#x201D;. The form indicates that as of February 15, 2011,
HAP was beneficial owner of only 4,917,046 shares of Gulf Resources
common stock, and it also indicates that HAP has purchased an
additional Call Option to purchase 699,900 shares of Gulf Resources
Common stock at $10 per share, exercisable from February 15, 2011
through April 15, 2011. On February 14, 2011 HAP filed a Motion to
Dismiss the Company&amp;#x2019;s complaint as to HAP only.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
As of May 6, 2011, all parties to the litigation entered into a
settlement agreement resolving the litigation in its entirety. The
terms of the settlement are confidential. The parties have
fulfilled all necessary obligations under the settlement agreement,
and the litigation (including HAP&amp;#x2019;s formerly pending motion)
has been dismissed by stipulation of all parties, with
prejudice.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Class Action&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company and certain of its officers and directors (Ming Yang,
Xiaobin Liu, and Min Li, collectively, the &amp;#x201C;Individual
Defendants&amp;#x201D;) have been named as defendants in a putative
securities class action lawsuit alleging violations of the federal
securities laws.&amp;#xA0;&amp;#xA0;That action, which is now captioned
&lt;i&gt;Lewy, et al. v. Gulf Resources, Inc., et al.&lt;/i&gt;, No. 11-cv-3722
ODW (MRWx), was filed on April 29, 2011 in the United States
District Court for the Central District of
California.&amp;#xA0;&amp;#xA0;The lead plaintiffs, who seek to represent a
class of all purchasers and acquirers of the Company&amp;#x2019;s common
stock between March 16, 2009 and April 26, 2011 inclusive, filed an
amended complaint on September 12, 2011.&amp;#xA0;&amp;#xA0;Lead plaintiffs
assert claims for violations of Section 10(b) of the Securities
Exchange Act of 1934, and Rule 10b-5 thereunder.&amp;#xA0;&amp;#xA0;The
amended complaint alleges the defendants made false or misleading
statements in the Company&amp;#x2019;s Annual Reports on Form 10-K for
the years ended December 31, 2008, 2009, and 2010, and in interim
quarterly reports by, among other things, overstating revenue and
net income and failing to disclose material related party
transactions and certain facts about the CEO&amp;#x2019;s prior
employment at another company.&amp;#xA0;&amp;#xA0;The amended complaint
also asserts claims against the Individual Defendants for
violations of Section 20(a) of the Securities Exchange Act of 1934.
The amended complaint seeks damages in an unspecified amount. On
November 7, 2011, the Company filed a&amp;#xA0;motion to&amp;#xA0;dismiss
the amended complaint.&amp;#xA0;On December 30, 2011, lead plaintiffs
filed an opposition to the Company&amp;#x2019;s motion to dismiss the
amended complaint. The Company filed a reply in further support of
its motion to dismiss on February 6, 2012. In response to the
Company&amp;#x2019;s reply in further support of its motion to dismiss,
lead plaintiffs filed an objection on February 17, 2012, to certain
documents filed by the Company in support of its motion to dismiss.
The Company opposed the objection on February 22, 2012, to which
lead plaintiffs replied in further support of their objection on
February 23, 2012. The Court has not yet ruled on the motion to
dismiss nor the objections raised by lead plaintiffs. The Company
intends to defend vigorously against the lawsuit.&amp;#xA0;&amp;#xA0;The
Company currently cannot estimate the amount or range of possible
losses from this litigation.&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The legal costs incurred for the year ended December 31, 2011 in
connection with the above legal cases amounted to $592,576, which
was included in the income statements as general and administrative
expenses.&lt;/p&gt;


&lt;/div&gt;</us-gaap:LegalMattersAndContingenciesTextBlock>
  <us-gaap:CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
SCHEDULE I &amp;#x2013; PARENT ONLY FINANCIAL INFORMATION&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The following presents condensed parent company only financial
information of Gulf Resources, Inc.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;u&gt;Condensed Balance Sheets&lt;/u&gt;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6"&gt;As of December 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Unaudited&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Current Assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; WIDTH: 74%"&gt;
Prepayments and deposits&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"&gt;
307,600&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Total Current
Assets&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
307,600&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Non-Current Assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Interests in subsidiaries&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;192,636,852&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;139,936,042&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Amounts due from
group companies&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
52,494,771&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
54,372,933&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Total non-current
assets&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
245,131,623&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
194,308,975&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Total
Assets&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
245,439,223&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
194,308,975&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Liabilities and Stockholders&amp;#x2019;
Equity&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Current Liabilities&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Other payables and accrued
expenses&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,036,513&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;507,917&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Amounts due to
group companies&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
1,289,954&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
1,115,864&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Total
Liabilities&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
2,326,467&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
1,623,781&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Stockholders&amp;#x2019; Equity&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;PREFERRED STOCK; $0.001 par value;
1,000,000 shares authorized; none outstanding&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;COMMON
STOCK; $0.0005 par value; 100,000,000 shares authorized; 34,745,342
and 34,735,912 shares issued; and 34,560,743 and 34,735,912 shares
outstanding as of December 31, 2011 and 2010, respectively&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;17,373&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;17,368&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Treasury stock; 184,599 shares as of December 31, 2011 at
cost&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(500,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Additional paid-in capital&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;74,107,979&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;66,626,584&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Retained earnings unappropriated&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;133,314,581&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;106,500,085&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Retained earnings appropriated&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;14,409,557&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;10,271,293&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Cumulative
translation adjustment&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
21,763,266&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
9,269,864&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Total
Stockholders&amp;#x2019; Equity&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
243,112,756&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
192,685,194&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Total
Liabilities and Stockholders&amp;#x2019; Equity&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
245,439,223&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
194,308,975&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;u&gt;Condensed Statements of Income&amp;#xA0;&lt;/u&gt;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10"&gt;Years Ended December 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2009&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Unaudited&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Unaudited&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;OPERATING (EXPENSES) INCOME&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt; WIDTH: 61%"&gt;General
and administrative expenses&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;(9,552,707&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;)&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;(2,957,467&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;)&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;(3,240,497&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 9pt"&gt;Other
operating income&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
300,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;TOTAL OPERATING
EXPENSES&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(9,252,707&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(2,957,467&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(3,240,497&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;OTHER EXPENSES&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 9pt"&gt;Interest
expense&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(1,941&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(764&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;TOTAL OTHER
EXPENSES&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(1,941&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(764&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;TOTAL EXPENSES&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(9,254,648&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(2,958,231&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(3,240,497&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Equity in net
income of subsidiaries&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
40,207,408&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
54,241,551&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
33,831,912&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;INCOME BEFORE TAXES&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;30,952,760&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;51,283,320&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;30,591,415&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;INCOME TAXES&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;NET INCOME&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
30,952,760&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
51,283,320&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
30,591,415&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;u&gt;Condensed Statements of Cash Flows&lt;/u&gt;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10"&gt;Years Ended December 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2009&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Unaudited&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Unaudited&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;CASH FLOWS FROM OPERATING
ACTIVITIES&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 61%"&gt;Net income&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;30,952,760&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;51,283,320&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;30,591,415&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;
Adjustments to reconcile net income to net cash provided by
operating activities:&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Equity earnings
in unconsolidated subsidiaries&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(40,207,408&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(54,241,551&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(33,831,912&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Stock-based
compensation expense&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;7,481,400&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,282,428&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,022,240&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Changes in assets and
liabilities:&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in"&gt;Prepayment and
deposits&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(307,600&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0.25in"&gt;Other
payables and accrued expenses&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
528,596&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
201,800&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(964,564&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;Net cash
used in operating activities&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(1,552,252&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(1,474,003&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(2,182,821&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;CASH FLOWS FROM FINANCING
ACTIVITIES&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Repurchase of common stock&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(500,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Proceeds from private placement&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,192,920&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;21,307,142&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Proceeds from exercising stock
options&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;18,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Advances from /
(to) group companies&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
2,052,252&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(736,917&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(19,124,299&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;Net cash
provided by financing activities&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
1,552,252&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
1,474,003&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
2,182,821&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;NET INCREASE IN CASH AND CASH
EQUIVALENTS&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;CASH AND CASH
EQUIVALENTS - BEGINNING OF YEAR&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;CASH AND CASH
EQUIVALENTS - END OF YEAR&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Notes:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0px"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.5in"&gt;(i)&lt;/td&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;&lt;u&gt;Basis of presentation&lt;/u&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif"&gt;
In the condensed parent-company-only financial statements, the
Company&amp;#x2019;s investment in subsidiaries is stated at cost plus
equity in undistributed earnings of subsidiaries since the date of
acquisition. The Company&amp;#x2019;s share of net income of its
subsidiaries is included in condensed statements of income using
the equity method. These condensed parent-company-only financial
statements should be read in connection with the consolidated
financial statements and notes thereto.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif"&gt;
As of December 31, 2011, the Company itself has no purchase
commitment, capital commitment and operating lease commitment for
the condensed parent-company-only financial statements.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0px"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.5in"&gt;(ii)&lt;/td&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;&lt;u&gt;Restricted Net Assets&lt;/u&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif"&gt;
Schedule I of Article 5-04 of Regulation S-X requires the condensed
financial information of registrant shall be filed when the
restricted net assets of consolidated subsidiaries exceed 25
percent of consolidated net assets as of the end of the most
recently completed fiscal year. For purposes of the above test,
restricted net assets of consolidated subsidiaries shall mean that
amount of the registrant&amp;#x2019;s proportionate share of net assets
of consolidated subsidiaries (after intercompany eliminations)
which as of the end of the most recent fiscal year may not be
transferred to the parent company by subsidiaries in the form of
loans, advances or cash dividends without the consent of a third
party (i.e., lender, regulatory agency, foreign government,
etc.).&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif"&gt;
The condensed parent company financial statements have been
prepared in accordance with Rule 12-04, Schedule I of Regulation
S-X as the restricted net assets of the subsidiaries of Gulf
Resources, Inc. exceed 25% of the consolidated net assets of Gulf
Resources, Inc. The ability of the Company&amp;#x2019;s Chinese
operating subsidiaries to pay dividends may be restricted due to
the foreign exchange control policies and availability of cash
balances of the Chinese operating subsidiaries. Because a
significant portion of the Company&amp;#x2019;s operations and revenues
are conducted and generated in China, a significant portion of the
revenues being earned and currency received are denominated in RMB.
RMB is subject to the exchange control regulation in China, and, as
a result, the Company may be unable to distribute any dividends
outside of China due to PRC exchange control regulations that
restrict the Company&amp;#x2019;s ability to convert RMB into US
Dollars.&lt;/p&gt;
&lt;/div&gt;</us-gaap:CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">398842</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">452000</us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued>
  <us-gaap:CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 6 &amp;#x2013; PROPERTY, PLANT AND EQUIPMENT UNDER CAPITAL LEASES,
NET&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Property, plant and equipment under capital leases, net consist of
the following:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6"&gt;As of December 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;At cost:&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-LEFT: 9pt; WIDTH: 74%"&gt;Buildings&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;130,605&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 9pt"&gt;Plant
and machinery&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
2,476,460&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Total&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,607,065&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Less: accumulated
depreciation and amortization&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(270,145&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Net book value&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
2,336,920&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The above buildings erected on parcels of land located in
Shouguang, PRC, are collectively owned by local townships. The
Company has not been able to obtain property ownership certificates
over these buildings as the Company could not obtain land use
rights certificates on the underlying parcels of land.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
During the year ended December 31, 2011, depreciation and
amortization expense totaled $265,057, of which $172,103 and
$92,954 were recorded as cost of sales and administrative expenses
respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
An impairment of $683,046 was made in the second quarter of 2011
for those idle assets without enhancements and adjustments been
performed in early 2011, and included in write-off / impairment on
property, plant and equipment.&lt;/p&gt;


&lt;/div&gt;</us-gaap:CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock>
  <us-gaap:IncreaseDecreaseInAccruedTaxesPayable contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="INF">-3459768</us-gaap:IncreaseDecreaseInAccruedTaxesPayable>
  <us-gaap:ForeignCurrencyTransactionGainLossUnrealized contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">-1398574</us-gaap:ForeignCurrencyTransactionGainLossUnrealized>
  <us-gaap:AssetImpairmentCharges contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">7570566</us-gaap:AssetImpairmentCharges>
  <us-gaap:CostOfRevenue contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">89538212</us-gaap:CostOfRevenue>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">52907374</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:IncreaseDecreaseInRetainagePayable contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">98174</us-gaap:IncreaseDecreaseInRetainagePayable>
  <us-gaap:EarningsPerShareBasic contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD_per_shares" decimals="2">0.89</us-gaap:EarningsPerShareBasic>
  <us-gaap:DepreciationAndAmortization contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">17697439</us-gaap:DepreciationAndAmortization>
  <us-gaap:OperatingIncomeLoss contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">44298458</us-gaap:OperatingIncomeLoss>
  <us-gaap:InventoryDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 3 &amp;#x2013; INVENTORIES&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Inventories consist of:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6"&gt;As&amp;#xA0;of&amp;#xA0;December&amp;#xA0;31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 74%"&gt;Raw materials&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;848,596&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;769,817&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Finished goods&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;3,604,247&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,916,775&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Allowance for
obsolete and slow-moving inventories&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(14,871&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(6,693&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
4,437,972&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
2,679,899&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:InventoryDisclosureTextBlock>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 5 &amp;#x2013; PROPERTY, PLANT AND EQUIPMENT, NET&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Property, plant and equipment, net consist of the following:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6"&gt;As&amp;#xA0;of&amp;#xA0;December&amp;#xA0;31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;At cost:&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 27pt; WIDTH: 74%"&gt;
Mineral rights&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;6,318,750&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;6,011,790&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-LEFT: 27pt"&gt;Buildings&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;40,974,528&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;38,878,225&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 27pt"&gt;Plant and
machinery&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;136,862,383&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;88,149,060&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 27pt"&gt;Motor
vehicles&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;7,024&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;6,683&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 27pt"&gt;
Furniture, fixtures and office equipment&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
4,057,356&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
3,850,525&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Total&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;188,220,041&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;136,896,283&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Less: accumulated
depreciation and amortization&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(41,019,301&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(24,717,284&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Net book value&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
147,200,740&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
112,178,999&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company has certain buildings and salt pans erected on parcels
of land located in Shouguang, PRC, and such parcels of land are
collectively owned by local townships. The Company has not been
able to obtain property ownership certificates over these buildings
and salt pans as the Company could not obtain land use rights
certificates on the underlying parcels of land.&amp;#xA0;The Company
could not obtain property ownership certificates covering certain
properties of aggregate carrying value of $33,108,012 and
$33,868,298 as at December 31, 2011 and 2010, respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In the fiscal year 2011, the Company reclassified certain
protective shells for crude salt pans with cost of $2,204,600
(RMB14.6 million), previously included in building, into plant and
equipment for consistent classification with other similar assets.
Comparative figures for the fiscal year 2010 were reclassified to
conform to the current year presentation. There is no impact on the
statements of income as estimated useful lives of the assets being
reclassified was not changed.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
During the year ended December 31, 2011, depreciation and
amortization expense totaled $17,432,382, of which $16,348,509 and
$1,083,873 were recorded as cost of net revenue and administrative
expenses, respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
During the year ended December 31, 2010, depreciation and
amortization expense totaled $11,097,149 of which $10,236,230 and
$860,919 were recorded as cost of net revenue and administrative
expenses, respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
During the year ended December 31, 2009, depreciation and
amortization expense totaled $7,199,658, of which $7,019,608 and
$180,050 were recorded as cost of net revenue and administrative
expenses, respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0px"&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0px"&gt;&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In June 2010, the Company completed the construction of a
production line for wastewater treatment chemical additives line at
a total cost of RMB60 million (equivalent to $8,838,000).&amp;#xA0; A
retention amount of $453,000 as of December 31, 2010, representing
5% of the total cost will be paid to Shouguang City Shengkun
Construction Co., Ltd. upon one year after the completion date.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In mid-May 2011, the local PRC government requested to take the
leased land of original Factory No. 4 for redevelopment and agreed
to lease another parcel of land to the Company nearby to the
existing Factory No. 4. The total construction cost of the new
Factory No. 4 was approximately $6,207,901, which was completed and
restarted operations in December 2011.&amp;#xA0;A rental agreement was
subsequently signed in February 2012 with the local Township
government for the lease of the parcel of land with an annual
payment of RMB100,000 (approximately $15,871) up to December 31,
2031.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The operations of the original Factory No. 4 were stopped in early
July 2011 to cooperate with the demolition of the factory and the
relocation of useful plant and machinery to the new factory. For
those fixed assets that could not be relocated to the new factory,
the Company recognized write-offs of $1,384,443 in the second
quarter of 2011 and included the impairment loss in write-off /
impairment on property, plant and equipment. A sum of $1,340,026
was received from the local PRC government in the third quarter of
2011 as compensation for the demolition of original Factory No. 4
and included in the income statement as other operating income.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Besides the assets acquisition as mentioned in Note 2, the Company
carried out the following major enhancement projects to the
existing facilities in 2011:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0px"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;(a)&lt;/td&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;In the first quarter of 2011, the
Company carried out enhancements to the new property, plant and
machinery acquired under finance lease in January 2011 (see Note 6)
by making capital improvement in reconstruction and renovation work
at a cost of approximately $3,050,400, which was recorded as
buildings ($297,349) and plant and machinery ($2,753,051), for the
operation of the real property, production facilities, channels and
ducts, other production equipment and the buildings located on the
property (&amp;#x201C;Branch 1 of Factory No. 1&amp;#x201D;). The capital
improvement works to the buildings and plant and equipment have
estimated useful lives of 15-20 years and 5-8 years,
respectively.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0px"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;(b)&lt;/td&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;In late June 2011, the Company
completed enhancement projects to its crude salt fields, extraction
wells and transmission channels and ducts at a total cost of
RMB210,113,600 (equivalent to $32,466,753), which were recorded as
plant and machinery. In particular, the Company incurred
reconstruction and renovation works at a cost of approximately
$12,379,153 for its existing crude salt fields in Factory No. 1, 5
to 9, at costs of approximately $12,361,600 for its extraction
wells in Factory No. 1 to 9, and $7,726,000 for its transmission
channels and ducts, respectively, in Factory No. 1 to 9. The
enhancement work to existing extraction wells, drilling deeper
underground for better quality brine water, has estimated useful
lives of 8 years. None of the existing extraction wells were
impaired as a result of the drilling enhancement. The enhancement
works to crude salt fields, transmission channels and ducts,
replacing eroded protective shells for crude salt fields and
transmission channels and ducts, have estimated useful lives of 5
years. Certain eroded protective shells for crude salt fields and
transmission channels and ducts, with net book values of $1,632,004
and $1,315,476, respectively, were replaced during the enhancement
projects, write-offs of the same amounts, were made in the second
quarter of 2011 and included in write-off / impairment on property,
plant and equipment. The Company also recognized write-offs of
certain eroded protective shells for transmission channels and
ducts, without enhancement works, with net book values of $749,999,
during the regular inspection of fixed assets, and included in
write-off / impairment on property, plant and equipment.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0px"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;(c)&lt;/td&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;In mid-June 2011, the Company
switched its production line for wastewater treatment chemical
additives, with net book value of $8,320,410, to the production of
pharmaceutical and agricultural chemical intermediates at a cost of
$153,426 as the Company experienced some technological limitations
on extraction purity, which lead to a lower than expected gross
margin for wastewater treatment chemical additives. An impairment
of $1,805,598 was made in the second quarter of 2011 and included
in write-off / impairment on property, plant and equipment.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Enhancements of protective shells to the crude salt fields,
extraction wells and transmission channels and ducts are carried
out every 5 to 8 years, depending on the need to do so, that is,
when regular repair and maintenance work identifies the replacement
needs. The erosion rate of protection shells is affected by
different weather conditions and the change in acid components of
brine water over time.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
There were no impairment provisions made at December 31, 2010 and
2009.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
For the years ended December 31, 2011, 2010 and 2009, ordinary
repair and maintenance expenses were $1,078,134, $199,257 and
$27,317, respectively.&lt;/p&gt;


&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:IncomeTaxExpenseBenefit contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">13402871</us-gaap:IncomeTaxExpenseBenefit>
  <us-gaap:OtherNoncashIncome contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">1340026</us-gaap:OtherNoncashIncome>
  <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="shares" decimals="0">34660866</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
  <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">-648734</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
  <us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">3796618</us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 19 &amp;#x2013; FAIR VALUE OF FINANCIAL INSTRUMENTS&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The carrying values of financial instruments, which consist of
cash, accounts receivable and accounts payable and other payables,
approximate their fair values due to the short-term nature of these
instruments.&amp;#xA0;&amp;#xA0;There were no material unrecognized
financial assets and liabilities as of December 31, 2011 and
2010.&lt;/p&gt;


&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:CashPeriodIncreaseDecrease contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="INF">10081580</us-gaap:CashPeriodIncreaseDecrease>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 15 &amp;#x2013; INCOME TAXES&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company utilizes the asset and liability method of accounting
for income taxes in accordance with FASB ASC 740-10.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(a)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;United
States&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Gulf Resources, Inc. is subject to the United States of America Tax
law at tax rate of 34%. No provision for the US federal income
taxes has been made as the Company had no US taxable income for the
years ended December 31, 2011, 2010 and 2009, and management
believes that its earnings are permanently invested in the PRC.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(b)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;BVI&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Upper Class Group Limited was incorporated in the BVI and, under
the current laws of the BVI, it is not subject to tax on income or
capital gain in the BVI. Upper Class Group Limited did not generate
assessable profit for the years ended 31 December 31, 2011, 2010
and 2009.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(c)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;Hong
Kong&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Hong Kong Jiaxing Industrial Limited&amp;#xA0;was incorporated in Hong
Kong and is subject to Hong Kong profits tax. The Company is
subject to Hong Kong taxation on its activities conducted in Hong
Kong and income arising in or derived from Hong Kong.&amp;#xA0;&amp;#xA0;No
provision for profits tax has been made as the Company has no
assessable income for the years.&amp;#xA0;&amp;#xA0;The applicable
statutory tax rates for the years ended December 31, 2011, 2010 and
2009 are 16.5%.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
(d)&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;PRC&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Enterprise income tax (&amp;#x201C;EIT&amp;#x201D;) for SCHC and SYCI in the
PRC is charged at 25% of the assessable profits.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The operating subsidiaries SCHC and SYCI are wholly foreign-owned
enterprises (&amp;#x201C;FIE&amp;#x201D;) incorporated in the PRC and are
subject to PRC Foreign Enterprise Income Tax Law.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
On February 22, 2008, the Ministry of Finance (&amp;#x201C;MOF&amp;#x201D;)
and the State Administration of Taxation (&amp;#x201C;SAT&amp;#x201D;)
jointly issued Cai Shui [2008] Circular 1 (&amp;#x201C;Circular
1&amp;#x201D;). According to Article 4 of Circular 1, distributions of
accumulated profits earned by a FIE prior to January 1, 2008 to
foreign investor(s) in 2008 will be exempted from withholding tax
(&amp;#x201C;WHT&amp;#x201D;) while distribution of the profit earned by an
FIE after January 1, 2008 to its foreign investor(s) shall be
subject to WHT at 5% effective tax rate.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
As of December 31, 2011 and 2010, the accumulated distributable
earnings under the Generally Accepted Accounting Principles
(&amp;#x201C;GAAP&amp;#x201D;) of PRC are $180,939,187 and $129,201,268,
respectively. Since the Company intends to reinvest its earnings to
further expand its businesses in mainland China, its foreign
invested enterprises do not intend to declare dividends to their
immediate foreign holding companies in the foreseeable future.
Accordingly, as of December 31, 2011 and 2010, the Company has not
recorded any WHT on the cumulative amount of distributable retained
earnings of its foreign invested enterprises in China. As of
December 31, 2011 and 2010, the unrecognized WHT are $7,965,999 and
$5,431,616, respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The components of the provision for income taxes from continuing
operations are:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Years ended December 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2009&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 61%"&gt;Current taxes &amp;#x2013;
PRC&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;15,972,518&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;18,066,297&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;11,266,564&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Deferred tax
&amp;#x2013; PRC&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(2,569,647&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(11,448&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(82,166&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
13,402,871&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
18,054,849&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
11,184,398&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The effective income tax expenses differ from the PRC statutory
income tax rate of 25% from continuing operations in the PRC as
follows:-&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Years ended December 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2009&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 61%"&gt;Statutory income tax
rate&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;25&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;%&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;25&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;%&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;25&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Non-taxable items&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(1&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Non-deductible items&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;3&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;US federal net
operating loss&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
3&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;%&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
1&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;%&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
2&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Effective tax
rate&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
30&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;%&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
26&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;%&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
27&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
As of December 31, 2011 and 2010, the Company had US federal net
operating loss (&amp;#x201C;NOL&amp;#x201D;) of approximately $30 million and
$25 million available to offset against future federal income tax
liabilities, respectively.&amp;#xA0;&amp;#xA0;NOL can be carried forward up
to 15 years from the year the loss is incurred. NOL of
approximately $12 million will expire at the beginning of 2014. The
Company believes the realization of benefits from these losses
remains uncertain due to the Company&amp;#x2019;s limited operating
history and continuing losses. Accordingly, a 100% deferred tax
asset valuation allowance has been provided.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Differences between the application of accounting principles and
tax laws cause differences between the bases of certain assets and
liabilities for financial reporting purposes and tax purposes. The
tax effects of these differences, to the extent they are temporary,
are recorded as deferred tax assets and liabilities. Significant
components of the Company&amp;#x2019;s deferred tax assets and
liabilities at December&amp;#xA0;31, 2011 and 2010 are as follows:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6"&gt;As of December 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt"&gt;Deferred
tax liabilities&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt"&gt;Deferred
tax assets:&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in; WIDTH: 74%"&gt;
Allowance for obsolete and slow-moving inventories&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;3,718&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;1,674&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in"&gt;
Impairment on property, plant and equipment&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;639,031&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in"&gt;
Exploration costs&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,797,391&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in"&gt;Repair
and maintenance costs&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;224,984&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in"&gt;
Property, plant and equipment&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;81,060&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;98,020&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in"&gt;
Property, plant and equipment under capital leases&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(8,001&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in"&gt;
US federal net operating loss&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
10,111,821&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
7,698,225&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt"&gt;Total
deferred tax assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;12,850,004&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;7,797,919&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt"&gt;
Valuation allowance&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(10,111,821&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(7,698,225&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt"&gt;
Net deferred tax asset&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
2,738,183&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
99,694&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt"&gt;Current
deferred tax asset&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;228,702&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;99,694&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt"&gt;
Long-term deferred tax asset&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,509,481&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The increase in valuation allowance for each of the years ended
December 31, 2011, 2010 and 2009 is $2,413,596, $1,005,799 and
$1,101,800, respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
There was no unrecognized tax benefits and accrual for uncertain
tax positions as of December 31, 2011 and 2010.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Tax returns filed regarding tax years from 2005 through 2011 are
subject to review by the respective tax authorities.&lt;/p&gt;


&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:InterestPaid contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" xsi:nil="true" />
  <us-gaap:IncreaseDecreaseInInventories contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">1621118</us-gaap:IncreaseDecreaseInInventories>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 7 &amp;#x2013; ACCOUNTS PAYABLE AND ACCRUED EXPENSE&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Accounts payable and accrued expenses consist of the following:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6"&gt;As of December 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 74%"&gt;Accounts payable&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;3,645,804&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;5,661,329&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Salary payable&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;132,454&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;121,121&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Social security insurance contribution
payable&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;39,129&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;30,946&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Amount due to a contractor&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,422,042&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Price adjustment funds&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,031,685&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Other
payables&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
1,102,529&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
606,339&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Total&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
7,373,643&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
6,419,735&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;


&lt;/div&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <us-gaap:ConcentrationRiskDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 18 &amp;#x2013; CUSTOMER CONCENTRATION&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company sells a substantial portion of its products to a
limited number of customers. During the year ended December 31,
2011, the Company sold 42.2% of its products to its top five
customers.&amp;#xA0;&amp;#xA0;At December 31, 2011, amount due from these
customers was $9,933,995.&amp;#xA0;During the year ended December 31,
2010, the Company sold 41.7% of its products to its top five
customers. At December 31, 2010, amount due from these customers
were $10,226,812. During the year ended December 31, 2009, the
Company sold 40.1% of its products to its top five customers. At
December 31, 2009, amount due from these customers were $5,449,638.
This concentration makes the Company vulnerable to a near-term
severe impact, should the relationships be terminated.&lt;/p&gt;


&lt;/div&gt;</us-gaap:ConcentrationRiskDisclosureTextBlock>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 14 &amp;#x2013; STOCK-BASED COMPENSATION&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Pursuant to the Company&amp;#x2019;s Amended and Restated 2007 Equity
Incentive Plan, the aggregate number shares of the Company&amp;#x2019;s
common stock available for grant of stock options and issuance is
4,341,989 shares.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The fair value of each option award below is estimated on the date
of grant using the Black-Scholes option-pricing model. The risk
free rate is based on the yield-to-maturity in continuous
compounding of the US Government Bonds with the time-to-maturity
similar to the expected tenor of the option granted, volatility is
based on the annualized historical stock price volatility of the
Company, and the expected life is based on the expected tenor,
which has been taken into account of early exercise behavior of the
option holder.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The&amp;#xA0;Company issued 25,000 warrants on August 1, 2008 at a
price of $4.80 per share as part of a consulting agreement with its
investor relations firm. These options fully vested on August 1,
2009. The warrants were valued at $65,000, fair value, with assumed
162% volatility, a four-year expiration term, a risk free rate of
3% and no dividend yield. The value of the warrants will be
expensed over one year, which is&amp;#xA0;the term of the consulting
agreement. For the year ended December 31, 2009, $48,616 was
recognized as consulting expense.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In March 2009, the Company granted to 9 management
staff&amp;#xA0;(including 4 directors of the Company) options to
purchase a total of 150,000 shares (25,000 for each of the
executive directors, and 12,500 each for one non-executive
independent director and 5 other management staff)&amp;#xA0;of the
Company&amp;#x2019;s common stock at an exercise price of $4.80 per
share and the options vested immediately. The options were valued
at $143,820 fair value, with assumed 174% volatility, a three-year
expiration term, a risk free rate of 1.43% and no dividend yield.
For the year ended December 31, 2009, $143,820 was recognized as
general and administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In May 2009, the Company granted to a director options to purchase
12,500 shares&amp;#xA0;of the Company&amp;#x2019;s common stock at an
exercise price of $4.80 per share and the options vested
immediately. The options were valued at $20,486 fair value, with
assumed 170% volatility, a three-year expiration term, a risk free
rate of 1.43% and no dividend yield. For the year ended December
31, 2009, $20,486 was recognized as general and administrative
expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In June 2009, the Company granted to a director options to purchase
25,000 shares&amp;#xA0;of the Company&amp;#x2019;s common stock at an
exercise price of $4.80 per share and the options vested
immediately. The options were valued at $39,534 fair value, with
assumed 167% volatility, a three-year expiration term, a risk free
rate of 1.43% and no dividend yield. For the year ended December
31, 2009, $39,534 was recognized as general and administrative
expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In October 2009, the Company granted to 2 management staff options
to purchase 37,500 shares&amp;#xA0;of the Company&amp;#x2019;s common stock
at an exercise price of $6.44 per share and the options vested
immediately. The options were valued at $219,656 fair value, with
assumed 161% volatility, a three-year expiration term, a risk free
rate of 1.43% and no dividend yield. For the year ended December
31, 2009, $219,656 was recognized as general and administrative
expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In October 2009, the Company granted to an independent director
options to purchase 12,500 shares&amp;#xA0;of the Company&amp;#x2019;s
common stock at an exercise price of $9.65 per share and the
options vested immediately. The options were valued at $90,648 fair
value, with assumed 160% volatility, a three-year expiration term,
a risk free rate of 1.43% and no dividend yield. For the year ended
December 31, 2009, $90,648 was recognized as general and
administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In November 2009, the Company granted to an independent director
options to purchase 12,500 shares&amp;#xA0;of the Company&amp;#x2019;s
common stock at an exercise price of $10.14 per share and the
options vested immediately. The options were valued at $92,315 fair
value, with assumed 152% volatility, a three-year expiration term,
a risk free rate of 1.43% and no dividend yield. For the year ended
December 31, 2009, $92,315 was recognized as general and
administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In December 2009, the Company granted to an investment bank
warrants to purchase 176,471 shares&amp;#xA0;of the Company&amp;#x2019;s
common stock at an exercise price of $10.2 per share and the
warrants vested immediately. The warrants were valued at $1,367,156
fair value, with assumed 156% volatility, a three-year expiration
term, a risk free rate of 1.43% and no dividend yield. For the year
ended December 31, 2009, $1,367,156 was recognized as general and
administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In February 2010, the Company granted to 8 management staff options
to purchase 132,500 shares&amp;#xA0;of the Company&amp;#x2019;s common stock
at an exercise price of $8.25 per share and the options vested
immediately. The options were valued at $995,539 fair value, with
assumed 154% volatility, a three-year expiration term with expected
tenor of 1.5 years, a risk free rate of 1.60% and no dividend
yield. For the year ended December 31, 2010, $995,539 was
recognized as general and administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In February 2010, the Company granted to the investor relations
firm warrants to purchase 25,000 shares&amp;#xA0;of the Company&amp;#x2019;s
common stock at an exercise price of $12 per share and the warrants
vested immediately. The warrants were valued at $193,428 fair
value, with assumed 155% volatility, a four-year expiration term, a
risk free rate of 1.60% and no dividend yield. For the year ended
December 31, 2010, $193,428 was recognized as general and
administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In November 2010, the Company granted to 2 independent directors
options to purchase 25,000 shares&amp;#xA0;of the Company&amp;#x2019;s
common stock at an exercise price of $10.43 per share and the
options vested immediately. The options were valued at $93,462 fair
value, with assumed 76% volatility, a three-year expiration term
with expected tenor of 1.5 years, a risk free rate of 0.30% and no
dividend yield. For the year ended December 31, 2010, $93,462 was
recognized as general and administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In February 2011, the Company granted to the investor relations
firm a warrant to purchase 50,000 shares of the Company&amp;#x2019;s
common stock at an exercise price of $12.6 per share and the
warrants vested immediately. The warrant was valued at $452,000
fair value, with assumed 193.42% volatility, a five-year expiration
term, a risk free rate of 2.30% and no dividend yield. For the year
ended December 31, 2011, $452,000 was recognized as general and
administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In early March 2011, the Company granted to an independent director
an option to purchase 12,500 shares of the Company&amp;#x2019;s common
stock at an exercise price of $9.16 per share and the options
vested immediately. The options were valued at $35,000 fair value,
with assumed 64.5% volatility, a three-year expiration term with
expected tenor of 1.49 years, a risk free rate of 0.46% and no
dividend yield. For the year ended December 31, 2011, $35,000 was
recognized as general and administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In late March 2011, the Company granted to 3 executive officers
options to purchase 1,200,000 shares of the Company&amp;#x2019;s common
stock at an exercise price of $4.97 per share and the options are
exercisable in equal installments over periods of two years. The
options were valued at $4,317,000 fair value, with assumed 77.22%
to 94.36% volatility, a four-year expiration term with expected
tenors of 2 to 2.49 years, risk free rates of 0.81% to 1.05% and no
dividend yield. For the year ended December 31, 2011, $1,945,000
was recognized as general and administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In late March 2011, the Company also granted to 18 management staff
options to purchase 654,000 shares of the Company&amp;#x2019;s common
stock at an exercise price of $4.97 per share and the options are
exercisable in equal installments over periods of three years. The
options were valued at $2,632,000 fair value, with assumed 77.22%
to 118.84% volatility, a four-year expiration term with expected
tenors of 2 to 3 years, risk free rates of 0.81% to 1.29% and no
dividend yield. For the year ended December 31, 2011, $706,000 was
recognized as general and administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In early May 2011, the Company granted to an independent director
an option to purchase 12,500 shares of the Company&amp;#x2019;s common
stock at an exercise price of $2.93 per share and the option vested
immediately. The option was valued at $15,800 fair value, with
assumed 79.91% volatility, a four-year expiration term with
expected tenor of 2 years, a risk free rate of 0.57% and no
dividend yield. For the year ended December 31, 2011, $15,800 was
recognized as general and administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In late June 2011, the Company granted to an independent director
an option to purchase 12,500 shares of the Company&amp;#x2019;s common
stock at an exercise price of $3.10 per share and the option vested
immediately. The option was valued at $15,200 fair value, with
assumed 86.36% volatility, a three-year expiration term with
expected tenor of 1.49 years, a risk free rate of 0.32% and no
dividend yield. For the year ended December 31, 2011, $15,200 was
recognized as general and administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In late September 2011, the Company and certain management staff
and directors mutually agreed to cancel certain unexercised and all
non-vested stock options previously granted for an aggregate of
1,181,000 shares of the Company&amp;#x2019;s common stock, having
exercise prices between $4.97 to $8.25 per share, without
consideration. In accordance with ASC 718-20-35-9, &amp;#x201C;Awards
Classified as Equity &amp;#x2014; Cancellation and Replacement&amp;#x201D;,
the Company accelerated the remaining expense on these cancelled
awards that resulted in $4,298,000 recorded in general and
administrative expense for the year ended December 31, 2011.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In November 2011, the Company granted to an independent director an
option to purchase 12,500 shares of the Company&amp;#x2019;s common
stock at an exercise price of $2.41 per share and the option vested
immediately. The option was valued at $14,400 fair value, with
assumed 94.7% volatility, a three-year expiration term with
expected tenor of 1.5 years, a risk free rate of 0.16% and no
dividend yield. For the year ended December 31, 2011, $14,400 was
recognized as general and administrative expenses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The following table summarizes all Company stock option
transactions between January 1, 2009 and December 31, 2011.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Number
of Option&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Number
of Option&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Number
of Option&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Range
of&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;and Warrants&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;and Warrants&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;and Warrants&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Exercise
Price per&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Outstanding&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Non-vested&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Vested&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Common Share&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in; WIDTH: 40%"&gt;
Balance, January 1, 2009&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;325,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;212,500&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;112,500&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;$0.84 - $10.04&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;
Granted during the year ended December 31, 2009&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;426,471&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;426,471&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;$4.80 - $10.20&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;Vested
during the year ended December 31, 2009&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(513,970&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;513,970&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;$4.80 - $10.20&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;
Forfeited or expired during the year ended December 31, 2009&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(250,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(125,001&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(124,999&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
$10.04&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;
Balance, December 31, 2009&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;501,471&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;501,471&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;$0.84 - $10.20&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;
Granted and vested during the year ended December 31, 2010&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;182,500&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;182,500&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;$8.25 - $12.00&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;
Exercised during the year ended December 31, 2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(225,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(225,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;$1.44
- $8.20&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;
Balance, December 31, 2010&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;458,971&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;458,971&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;$0.84 - $12.00&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;
Granted during the year ended December 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,954,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,954,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;$2.41 - $12.60&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;Vested
during the year ended December 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(918,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;918,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;$2.41 - $12.60&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;
Exercised during the year ended December 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(12,500&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(12,500&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;
$0.84&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in"&gt;
Forfeited, canceled or expired during the year ended December 31,
2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(1,256,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(1,036,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(220,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;$4.80
- $10.43&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in; VERTICAL-ALIGN: middle"&gt;
Balance, December 31, 2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
1,144,471&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
1,144,471&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
$2.41 - $12.60&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="13"&gt;Stock and Warrants Options Outstanding&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Weighted Average&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center"&gt;Weighted Average&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
Outstanding&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
Remaining&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" nowrap="nowrap"&gt;Exercise Price
of&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;at
December 31,&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Range
of&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
Contractual Life&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" nowrap="nowrap"&gt;Options
Currently&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Exercise Prices&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;(Years)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"&gt;
Outstanding&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 30%"&gt;Exercisable
and&amp;#xA0;outstanding&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 15%"&gt;1,144,471&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 15%"&gt;2.41 - $12.60&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 15%"&gt;2.91&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;$&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; WIDTH: 15%"&gt;6.30&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The weighted average grant-date fair values as at December 31,
2011, 2010 and 2009 were $7.29, $8.83 and $6.84, respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
At December 31, 2011 and 2010, the aggregate intrinsic value of the
stock options and warrants were $1,382,612 and $75,647,
respectively.&lt;/p&gt;


&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:TreasuryStockValueAcquiredCostMethod contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">500000</us-gaap:TreasuryStockValueAcquiredCostMethod>
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 8 &amp;#x2013; DUE TO A RELATED PARTY AND RELATED PARTY
TRANSACTIONS&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Related party transactions consist of the following:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Years ended December 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"&gt;
2011&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"&gt;
2010&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center"&gt;
2009&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; PADDING-LEFT: 9pt"&gt;
Purchase of raw materials from a related party:&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; WIDTH: 61%"&gt;
-Shouguang Hongye Trading Company Limited (Note (a))&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; WIDTH: 1%"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; WIDTH: 10%"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; WIDTH: 1%"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; WIDTH: 1%"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; WIDTH: 10%"&gt;
3,628,986&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; WIDTH: 1%"&gt;
&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; WIDTH: 1%"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; WIDTH: 10%"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; WIDTH: 1%"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 12%"&gt;Note (a) -&lt;/td&gt;
&lt;td style="TEXT-ALIGN: justify; WIDTH: 88%"&gt;Mr. Zhi Yang, a
shareholder and son of the Chairman of the Company, had a 10%
equity interest in Shouguang Hongye Trading Company Limited
(&amp;#x201C;Hongye&amp;#x201D;) for the period from August 4, 2010 to
December 2, 2010.&amp;#xA0;&amp;#xA0;Since December 2, 2010, Mr. Zhi Yang
has not had any ownership interest in Hongye.&amp;#xA0;&amp;#xA0;Hongye is
one of the major suppliers to the Company of sulfur, raw coal and
various chemicals for the production of bromine and chemical
products.&amp;#xA0;&amp;#xA0;The outstanding payables to Hongye, which were
included in accounts payable as at December 31, 2010, amounted to
$1,146,810.&amp;#xA0;&amp;#xA0;The products were sold to the Company by
Hongye at market prices.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
During the fiscal year 2011, the Company borrowed a sum of
$7,823,475, and fully repaid later during the same year, from
Jiaxing Lighting Appliance Company Limited (&amp;#x201C;Jiaxing
Lighting&amp;#x201D;), in which Mr. Ming Yang, a shareholder and the
Chairman of the Company, had a 100% equity interest in Jiaxing
Lighting. The amounts due to Jiaxing Lighting were unsecured,
interest free and repayable on demand.&lt;/p&gt;
&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">17874296</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="shares" decimals="0">34673615</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
  <us-gaap:DebtAndCapitalLeasesDisclosuresTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 10 &amp;#x2013; CAPITAL LEASE OBLIGATIONS&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
components of capital lease obligations are as follows:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Imputed&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6"&gt;As of December 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Interest rate&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 61%"&gt;Total capital lease
obligations&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;6.7&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;%&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;3,226,300&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Less: Current
portion&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(189,742&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Capital lease
obligations, net of current portion&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
3,036,558&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Interest expense from capital lease obligations amounted to
$210,347, was charged to the income statements for the year ended
December 31, 2011.&lt;/p&gt;
&lt;/div&gt;</us-gaap:DebtAndCapitalLeasesDisclosuresTextBlock>
  <us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">-788739</us-gaap:NetCashProvidedByUsedInFinancingActivities>
  <us-gaap:AmortizationOfFinancingCosts contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">210347</us-gaap:AmortizationOfFinancingCosts>
  <gure:RepaymentsOfCapitalLeaseObligations contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">288739</gure:RepaymentsOfCapitalLeaseObligations>
  <gure:TaxDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;font style="FONT-FAMILY: Times New Roman, Times, Serif"&gt;NOTE 9
&amp;#x2013; TAXES PAYABLE&lt;/font&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Taxes
payable consists of the following:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6"&gt;As of December 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 74%"&gt;Income tax payable&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;1,761,452&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;4,377,314&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Mineral resource compensation fee
payable&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;410,719&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;486,585&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Value added tax payable&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;540,463&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,031,525&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Land use tax payable&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,081,117&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;966,397&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Other tax
payables&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
264,799&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
301,274&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Total&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
4,058,550&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
7,163,095&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;


&lt;/div&gt;</gure:TaxDisclosureTextBlock>
  <gure:ResearchAndDevelopmentDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;NOTE 20
&amp;#x2013;RESEARCH AND DEVELOPMENT EXPENSES&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
On September 6, 2007, SYCI and East China University of Science and
Technology formally opened a Co-Op Research and Development Center.
The research center is equipped with state of the art chemical
engineering instruments for the purpose of pursuing targeted
research and development of refined bromide compounds and end
products. According to the Co-Op Research Agreement, any research
achievement or patents will become assets of the Company.
Originally, the Company will provide $500,000 annually until June
2012 to East China University of Science and Technology for
research. On June 7, 2011, the Company and East China University of
Science and Technology mutually agreed to terminate the Co-op
Research Agreement due to the successful completion of the
cooperative research and development tasks related to the
development of bromine-related chemical products for the
Company.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Since the second quarter of 2010, SYCI conducted research for the
new production line of wastewater treatment additives, the purpose
of which is for the testing of the manufacturing routine and
samples. The new production line was started operation and normal
production in April 2011. However, the Company switched the
aforesaid production line to the production of pharmaceutical and
agricultural chemical intermediates in mid-June 2011 as the Company
experienced some technological limitations on extraction purity,
which lead to a lower than expected gross margin for wastewater
treatment chemical additives. The research and development expense
incurred for the new production line of wastewater treatment
additives from outside parties and the consumption of bromine
produced by the Company during the year ended December 31, 2011
were $56,286 and $105,739, respectively. The research and
development expense incurred for the new production line of
wastewater treatment additives from outside parties and the
consumption of bromine produced by the Company during the year
ended December 31, 2010 were $847,919 and $848,990,
respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The total research and development expense recognized in the income
statements during the years ended December 31, 2011, 2010 and 2009
were $398,842, $2,200,291 and $500,406, respectively.&lt;/p&gt;


&lt;/div&gt;</gure:ResearchAndDevelopmentDisclosureTextBlock>
  <gure:DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 4 &amp;#x2013; PREPAID LAND LEASE&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company prepaid for land leases with lease terms for periods
ranging from one to fifty years to use the land on which the office
premises, production facilities and warehouses of the Company are
situated. The prepaid land lease is amortized on a straight line
basis.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
During the year ended December 31, 2011, amortization of prepaid
land lease totaled $424,467, which was recorded as cost of net
revenue. During the year ended December 31, 2010, amortization of
prepaid land lease totaled $104,940, of which $104,349 and $591
were recorded as cost of net revenue and administrative expenses,
respectively. During the year ended December 31, 2009, amortization
of prepaid land lease totaled $57,985, of which $57,398 and $587
were recorded as cost of net revenue and administrative expenses,
respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company has the rights to use certain parcels of land located
in Shouguang, the PRC, through lease agreements signed with local
townships.&amp;#xA0;&amp;#xA0;Such parcels of land are collectively owned
by local townships and accordingly, the Company could not obtain
land use rights certificates on these parcels of
land.&amp;#xA0;&amp;#xA0;The parcels of land of which the Company could not
obtain land use rights certificates covers a total of
approximately&amp;#xA0;101.52 square kilometers of aggregate carrying
value of $766,748 and&amp;#xA0;approximately&amp;#xA0;92.32 square
kilometers&amp;#xA0;square meters of aggregate carrying value of
$743,275 as at December 31, 2011 and 2010, respectively.&lt;/p&gt;


&lt;/div&gt;</gure:DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock>
  <gure:RetainedEarningsRestrictionsTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 11 &amp;#x2013; RETAINED EARNINGS &amp;#x2013; APPROPRIATED&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In accordance with the relevant PRC regulations and the PRC
subsidiaries&amp;#x2019; Articles of Association, the Company&amp;#x2019;s
PRC subsidiaries are required to allocate its profit after tax to
the following reserve:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;Statutory Common Reserve Funds&lt;/i&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
SCHC and SYCI are required each year to transfer 10% of the profit
after tax as reported under the PRC statutory financial statements
to the Statutory Common Reserve Funds until the balance reaches 50%
of the registered share capital.&amp;#xA0;&amp;#xA0;This reserve can be
used to make up any loss incurred or to increase share
capital.&amp;#xA0;&amp;#xA0;Except for the reduction of losses incurred,
any other application should not result in this reserve balance
falling below 25% of the registered capital. The Statutory Common
Reserve Fund as of December 31, 2011 for SCHC and SYCI is 30% and
50% of its registered capital respectively.&lt;/p&gt;
&lt;/div&gt;</gure:RetainedEarningsRestrictionsTextBlock>
  <gure:SellingMarketingAndOtherOperatingExpenses contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">86936</gure:SellingMarketingAndOtherOperatingExpenses>
  <gure:ReverseStockSplitDisclosureTextBlock contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
NOTE 21 &amp;#x2013; REVERSE STOCK SPLIT&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
A reverse stock split of the issued and outstanding shares of the
Company&apos;s common stock was effected on the basis of one share for
every four shares of common stock and was approved by the Board of
Directors and shareholders owning a majority of the outstanding
shares of the Company&amp;#x2019;s common stock and became effective on
October 12, 2009. All shares and per share data (except par value)
have been adjusted to reflect the effect of the stock split for all
periods presented.&lt;/p&gt;
&lt;/div&gt;</gure:ReverseStockSplitDisclosureTextBlock>
  <gure:InventoryWriteDownAndRecoveries contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0" unitRef="iso4217_USD" decimals="0">8178</gure:InventoryWriteDownAndRecoveries>
  <gure:TransferToRetainedEarningsAppropriatedForLegalReserve contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x442295" unitRef="iso4217_USD" decimals="0">-4138264</gure:TransferToRetainedEarningsAppropriatedForLegalReserve>
  <us-gaap:NetIncomeLoss contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x444253" unitRef="iso4217_USD" decimals="0">30952760</us-gaap:NetIncomeLoss>
  <gure:TransferToRetainedEarningsAppropriatedForLegalReserve contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x444253" unitRef="iso4217_USD" decimals="0">4138264</gure:TransferToRetainedEarningsAppropriatedForLegalReserve>
  <us-gaap:TreasuryStockSharesAcquired contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x444581" unitRef="shares" decimals="INF">-184599</us-gaap:TreasuryStockSharesAcquired>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x444581" unitRef="shares" decimals="INF">9430</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x444581" unitRef="iso4217_USD" decimals="0">5</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <us-gaap:TreasuryStockSharesAcquired contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x449678" unitRef="shares" decimals="INF">184599</us-gaap:TreasuryStockSharesAcquired>
  <us-gaap:TreasuryStockValueAcquiredCostMethod contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x449678" unitRef="iso4217_USD" decimals="0">500000</us-gaap:TreasuryStockValueAcquiredCostMethod>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x453698" unitRef="iso4217_USD" decimals="0">7029400</us-gaap:AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue>
  <us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x453698" unitRef="iso4217_USD" decimals="0">-5</us-gaap:StockIssuedDuringPeriodValueStockOptionsExercised>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x453698" unitRef="iso4217_USD" decimals="0">452000</us-gaap:AdjustmentsToAdditionalPaidInCapitalWarrantIssued>
  <us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x454423" unitRef="iso4217_USD" decimals="0">12493402</us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease>
  <us-gaap:StockIssued1 contextRef="eol_PE8833----1110-K0008_STD_365_20111231_0_455296x441864" unitRef="iso4217_USD" decimals="0">5</us-gaap:StockIssued1>
  <context id="eol_PE8833----1110-K0008_STD_365_20111231_0_455296x441864">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementScenarioAxis">us-gaap:StockOptionMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2011-01-01</startDate>
      <endDate>2011-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x454423">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedTranslationAdjustmentMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2011-01-01</startDate>
      <endDate>2011-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x453698">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2011-01-01</startDate>
      <endDate>2011-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x449678">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2011-01-01</startDate>
      <endDate>2011-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x444581">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2011-01-01</startDate>
      <endDate>2011-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x444253">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsUnappropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2011-01-01</startDate>
      <endDate>2011-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20111231_0_452905x442295">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsAppropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2011-01-01</startDate>
      <endDate>2011-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20111231_0">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
    </entity>
    <period>
      <startDate>2011-01-01</startDate>
      <endDate>2011-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20101231_0_455296x469835">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementScenarioAxis">gure:PropertyPlantAndEquipmentMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2010-01-01</startDate>
      <endDate>2010-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20101231_0_455296x450439">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementScenarioAxis">us-gaap:WarrantMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2010-01-01</startDate>
      <endDate>2010-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20101231_0_455296x441864">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementScenarioAxis">us-gaap:StockOptionMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2010-01-01</startDate>
      <endDate>2010-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x454423">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedTranslationAdjustmentMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2010-01-01</startDate>
      <endDate>2010-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x453698">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2010-01-01</startDate>
      <endDate>2010-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x444581">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2010-01-01</startDate>
      <endDate>2010-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x444253">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsUnappropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2010-01-01</startDate>
      <endDate>2010-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20101231_0_452905x442295">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsAppropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2010-01-01</startDate>
      <endDate>2010-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20101231_0">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
    </entity>
    <period>
      <startDate>2010-01-01</startDate>
      <endDate>2010-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0_455296x469977">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementScenarioAxis">gure:NotesPayableMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0_455296x469835">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementScenarioAxis">gure:PropertyPlantAndEquipmentMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0_455296x452841">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementScenarioAxis">us-gaap:PrivatePlacementMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x454423">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedTranslationAdjustmentMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x453698_455296x469977">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember><xbrldi:explicitMember dimension="us-gaap:StatementScenarioAxis">gure:NotesPayableMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x453698_455296x452841">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember><xbrldi:explicitMember dimension="us-gaap:StatementScenarioAxis">us-gaap:PrivatePlacementMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x453698">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444581_455296x469977">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember><xbrldi:explicitMember dimension="us-gaap:StatementScenarioAxis">gure:NotesPayableMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444581_455296x452841">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember><xbrldi:explicitMember dimension="us-gaap:StatementScenarioAxis">us-gaap:PrivatePlacementMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444581">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x444253">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsUnappropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0_452905x442295">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsAppropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_365_20091231_0">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
    </entity>
    <period>
      <startDate>2009-01-01</startDate>
      <endDate>2009-12-31</endDate>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x454423">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedTranslationAdjustmentMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2011-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x453698">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2011-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x449678">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:TreasuryStockMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2011-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x444581">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2011-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x444253">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsUnappropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2011-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20111231_0_452905x442295">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsAppropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2011-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20111231_0">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
    </entity>
    <period>
      <instant>2011-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20101231_0_452905x454423">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedTranslationAdjustmentMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2010-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20101231_0_452905x453698">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2010-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20101231_0_452905x444581">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2010-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20101231_0_452905x444253">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsUnappropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2010-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20101231_0_452905x442295">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsAppropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2010-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20101231_0">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
    </entity>
    <period>
      <instant>2010-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20091231_0_452905x454423">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedTranslationAdjustmentMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2009-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20091231_0_452905x453698">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2009-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20091231_0_452905x444581">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2009-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20091231_0_452905x444253">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsUnappropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2009-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20091231_0_452905x442295">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsAppropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2009-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20091231_0">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
    </entity>
    <period>
      <instant>2009-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20081231_0_452905x454423">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AccumulatedTranslationAdjustmentMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2008-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20081231_0_452905x453698">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2008-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20081231_0_452905x444581">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2008-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20081231_0_452905x444253">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsUnappropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2008-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20081231_0_452905x442295">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
      <segment><xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsAppropriatedMember</xbrldi:explicitMember></segment>
    </entity>
    <period>
      <instant>2008-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20081231_0">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
    </entity>
    <period>
      <instant>2008-12-31</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20110630_0">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
    </entity>
    <period>
      <instant>2011-06-30</instant>
    </period>
  </context>
  <context id="eol_PE8833----1110-K0008_STD_0_20120309_0">
    <entity>
      <identifier scheme="http://www.sec.gov/CIK">0000885462</identifier>
    </entity>
    <period>
      <instant>2012-03-09</instant>
    </period>
  </context>
  <unit id="shares">
    <measure>shares</measure>
  </unit>
  <unit id="iso4217_USD">
    <measure>iso4217:USD</measure>
  </unit>
  <unit id="iso4217_USD_per_shares">
    <divide>
      <unitNumerator>
        <measure>iso4217:USD</measure>
      </unitNumerator>
      <unitDenominator>
        <measure>shares</measure>
      </unitDenominator>
    </divide>
  </unit>
</xbrl>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>8
<FILENAME>gure-20111231.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Schema, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version: 6.13.8 -->
<!-- Round: c614353c-260a-4f9b-af26-37e450e6479b -->
<!-- Creation date: 2012-03-12T15:41:36Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
<schema xmlns="http://www.w3.org/2001/XMLSchema"
  xmlns:xbrli="http://www.xbrl.org/2003/instance"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:us-gaap="http://fasb.org/us-gaap/2011-01-31"
  xmlns:us-types="http://fasb.org/us-types/2011-01-31"
  xmlns:gure="http://www.gulfresourcesinc.cn/20111231"
  xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric"
  xmlns:num="http://www.xbrl.org/dtr/type/numeric"
  xmlns:xbrldt="http://xbrl.org/2005/xbrldt"
  xmlns:country="http://xbrl.sec.gov/country/2011-01-31"
  xmlns:dei="http://xbrl.sec.gov/dei/2011-01-31"
  xmlns:invest="http://xbrl.sec.gov/invest/2011-01-31"
  targetNamespace="http://www.gulfresourcesinc.cn/20111231"
  elementFormDefault="qualified" attributeFormDefault="unqualified">
  <annotation>
    <appinfo>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/DocumentDocumentandEntityInformation" id="DocumentDocumentandEntityInformation">
        <link:definition>101 - Document - Document and Entity Information</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassified" id="Role_StatementOfFinancialPositionClassified">
        <link:definition>103 - Statement - CONSOLIDATED BALANCE SHEETS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical" id="Role_StatementOfFinancialPositionClassifiedParen">
        <link:definition>104 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfIncomeAlternative" id="Role_StatementOfIncomeAlternative">
        <link:definition>105 - Statement - CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfShareholdersEquityAndOtherComprehensiveIncome" id="Role_ci-StatementOfShareholdersEquityAndOtherComprehensiveIncome">
        <link:definition>106 - Statement - CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfCashFlowsIndirect" id="Role_StatementOfCashFlowsIndirect">
        <link:definition>107 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock" id="Role_NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock">
        <link:definition>108 - Disclosure - NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLeasesOfLesseeDisclosureTextBlock" id="Role_NotesToFinancialStatementsLeasesOfLesseeDisclosureTextBlock">
        <link:definition>109 - Disclosure - ASSETS ACQUISITIONS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock" id="Role_NotesToFinancialStatementsInventoryDisclosureTextBlock">
        <link:definition>110 - Disclosure - INVENTORIES</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock" id="Role_NotesToFinancialStatementsDisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock">
        <link:definition>111 - Disclosure - PREPAID LAND LEASE</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock" id="Role_NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock">
        <link:definition>112 - Disclosure - PROPERTY, PLANT AND EQUIPMENT, NET</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock" id="Role_NotesToFinancialStatementsCapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock">
        <link:definition>113 - Disclosure - PROPERTY, PLANT AND EQUIPMENT UNDER CAPITAL LEASES, NET</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" id="Role_NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock">
        <link:definition>114 - Disclosure - ACCOUNTS PAYABLE AND ACCRUED EXPENSE</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock" id="Role_NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock">
        <link:definition>115 - Disclosure - DUE TO A RELATED PARTY AND RELATED PARTY TRANSACTIONS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTaxDisclosureTextBlock" id="Role_NotesToFinancialStatementsTaxDisclosureTextBlock">
        <link:definition>116 - Disclosure - TAXES PAYABLE</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDebtAndCapitalLeasesDisclosuresTextBlock" id="Role_NotesToFinancialStatementsDebtAndCapitalLeasesDisclosuresTextBlock">
        <link:definition>117 - Disclosure - CAPITAL LEASE OBLIGATIONS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRetainedEarningsRestrictionsTextBlock" id="Role_NotesToFinancialStatementsRetainedEarningsRestrictionsTextBlock">
        <link:definition>118 - Disclosure - RETAINED EARNINGS - APPROPRIATED</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock" id="Role_NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock">
        <link:definition>119 - Disclosure - COMMON STOCK</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTreasuryStockTextBlock" id="Role_NotesToFinancialStatementsTreasuryStockTextBlock">
        <link:definition>120 - Disclosure - TREASURY STOCK</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" id="Role_NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock">
        <link:definition>121 - Disclosure - STOCK-BASED COMPENSATION</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock" id="Role_NotesToFinancialStatementsIncomeTaxDisclosureTextBlock">
        <link:definition>122 - Disclosure - INCOME TAXES</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock" id="Role_NotesToFinancialStatementsSegmentReportingDisclosureTextBlock">
        <link:definition>123 - Disclosure - BUSINESS SEGMENTS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock" id="Role_NotesToFinancialStatementsSignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock">
        <link:definition>124 - Disclosure - MAJOR SUPPLIERS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsConcentrationRiskDisclosureTextBlock" id="Role_NotesToFinancialStatementsConcentrationRiskDisclosureTextBlock">
        <link:definition>125 - Disclosure - CUSTOMER CONCENTRATION</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsFairValueDisclosuresTextBlock" id="Role_NotesToFinancialStatementsFairValueDisclosuresTextBlock">
        <link:definition>126 - Disclosure - FAIR VALUE OF FINANCIAL INSTRUMENTS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsResearchAndDevelopmentDisclosureTextBlock" id="Role_NotesToFinancialStatementsResearchAndDevelopmentDisclosureTextBlock">
        <link:definition>127 - Disclosure - RESEARCH AND DEVELOPMENT EXPENSES</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsReverseStockSplitDisclosureTextBlock" id="Role_NotesToFinancialStatementsReverseStockSplitDisclosureTextBlock">
        <link:definition>128 - Disclosure - REVERSE STOCK SPLIT</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCommitmentsDisclosureTextBlock" id="Role_NotesToFinancialStatementsCommitmentsDisclosureTextBlock">
        <link:definition>129 - Disclosure - CAPITAL COMMITMENT AND OPERATING LEASE COMMITMENTS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLegalMattersAndContingenciesTextBlock" id="Role_NotesToFinancialStatementsLegalMattersAndContingenciesTextBlock">
        <link:definition>130 - Disclosure - LEGAL PROCEEDINGS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSubsequentEventsTextBlock" id="Role_NotesToFinancialStatementsSubsequentEventsTextBlock">
        <link:definition>131 - Disclosure - SUBSEQUENT EVENTS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" id="Role_NotesToFinancialStatementsCondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock">
        <link:definition>132 - Disclosure - PARENT ONLY FINANCIAL INFORMATION</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:linkbaseRef xlink:type="simple" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:href="gure-20111231_cal.xml" xlink:title="Calculation Links, all"/>
      <link:linkbaseRef xlink:type="simple" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:href="gure-20111231_def.xml" xlink:title="Definition Links, all"/>
      <link:linkbaseRef xlink:type="simple" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:href="gure-20111231_lab.xml" xlink:title="Label Links, all"/>
      <link:linkbaseRef xlink:type="simple" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:href="gure-20111231_pre.xml" xlink:title="Presentation Links, all"/>
    </appinfo>
  </annotation>
  <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/>
  <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd"/>
  <import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd"/>
  <import namespace="http://fasb.org/us-types/2011-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2011/elts/us-types-2011-01-31.xsd"/>
  <import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd"/>
  <import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd"/>
  <import namespace="http://fasb.org/us-gaap/2011-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd"/>
  <import namespace="http://xbrl.sec.gov/country/2011-01-31" schemaLocation="http://xbrl.sec.gov/country/2011/country-2011-01-31.xsd"/>
  <import namespace="http://xbrl.sec.gov/dei/2011-01-31" schemaLocation="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd"/>
  <import namespace="http://xbrl.sec.gov/invest/2011-01-31" schemaLocation="http://xbrl.sec.gov/invest/2011/invest-2011-01-31.xsd"/>
  <element name="AdjustmentToCommonStockIssuedShares" id="gure_AdjustmentToCommonStockIssuedShares" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock" id="gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock" type="nonnum:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="DocumentDocumentandEntityInformationAbstract" id="gure_DocumentDocumentandEntityInformationAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="InventoryWriteDownAndRecoveries" id="gure_InventoryWriteDownAndRecoveries" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="NotesPayableMember" id="gure_NotesPayableMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="NotesToFinancialStatementsAbstract" id="gure_NotesToFinancialStatementsAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="PropertyPlantAndEquipmentMember" id="gure_PropertyPlantAndEquipmentMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="Reclassification" id="gure_Reclassification" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="RepaymentsOfCapitalLeaseObligations" id="gure_RepaymentsOfCapitalLeaseObligations" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ResearchAndDevelopmentDisclosureTextBlock" id="gure_ResearchAndDevelopmentDisclosureTextBlock" type="nonnum:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="RetainedEarningsRestrictionsTextBlock" id="gure_RetainedEarningsRestrictionsTextBlock" type="nonnum:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ReverseStockSplitDisclosureTextBlock" id="gure_ReverseStockSplitDisclosureTextBlock" type="nonnum:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="SellingMarketingAndOtherOperatingExpenses" id="gure_SellingMarketingAndOtherOperatingExpenses" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="StockIssuedDuringPeriodSharesStockWarrantsExercised" id="gure_StockIssuedDuringPeriodSharesStockWarrantsExercised" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="StockIssuedDuringPeriodValueStockWarrantsExercised" id="gure_StockIssuedDuringPeriodValueStockWarrantsExercised" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TaxDisclosureTextBlock" id="gure_TaxDisclosureTextBlock" type="nonnum:textBlockItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="TransferToRetainedEarningsAppropriatedForLegalReserve" id="gure_TransferToRetainedEarningsAppropriatedForLegalReserve" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>9
<FILENAME>gure-20111231_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Calculation Linkbase, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version: 6.13.8 -->
<!-- Round: c614353c-260a-4f9b-af26-37e450e6479b -->
<!-- Creation date: 2012-03-12T15:41:36Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#DocumentDocumentandEntityInformation" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/DocumentDocumentandEntityInformation"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_StatementOfFinancialPositionClassified" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassified"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_StatementOfFinancialPositionClassifiedParen" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_StatementOfIncomeAlternative" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfIncomeAlternative"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_ci-StatementOfShareholdersEquityAndOtherComprehensiveIncome" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfShareholdersEquityAndOtherComprehensiveIncome"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_StatementOfCashFlowsIndirect" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfCashFlowsIndirect"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsLeasesOfLesseeDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLeasesOfLesseeDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsInventoryDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsDisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsCapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsTaxDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTaxDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsDebtAndCapitalLeasesDisclosuresTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDebtAndCapitalLeasesDisclosuresTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsRetainedEarningsRestrictionsTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRetainedEarningsRestrictionsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsTreasuryStockTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTreasuryStockTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsIncomeTaxDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsSegmentReportingDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsSignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsConcentrationRiskDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsConcentrationRiskDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsFairValueDisclosuresTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsFairValueDisclosuresTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsResearchAndDevelopmentDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsResearchAndDevelopmentDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsReverseStockSplitDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsReverseStockSplitDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsCommitmentsDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCommitmentsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsLegalMattersAndContingenciesTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLegalMattersAndContingenciesTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsSubsequentEventsTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSubsequentEventsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsCondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock"/>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/DocumentDocumentandEntityInformation">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassified">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsNoncurrent" xlink:label="us-gaap_AssetsNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligationsCurrent" xlink:label="us-gaap_CapitalLeaseObligationsCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligationsNoncurrent" xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet" xlink:label="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Cash" xlink:label="us-gaap_Cash"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherPrepaidExpenseCurrent" xlink:label="us-gaap_OtherPrepaidExpenseCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseOtherNoncurrent" xlink:label="us-gaap_PrepaidExpenseOtherNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAppropriated" xlink:label="us-gaap_RetainedEarningsAppropriated"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsUnappropriated" xlink:label="us-gaap_RetainedEarningsUnappropriated"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetentionPayable" xlink:label="us-gaap_RetentionPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TaxesPayableCurrent" xlink:label="us-gaap_TaxesPayableCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="us-gaap_TreasuryStockValue"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_AssetsCurrent" order="1.0700" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_AssetsNoncurrent" order="1.1200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_Cash" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent" order="1.0200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_InventoryNet" order="1.0300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" order="1.0400" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_OtherPrepaidExpenseCurrent" order="1.0500" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_DeferredTaxAssetsNetCurrent" order="1.0600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsNoncurrent" xlink:to="us-gaap_PropertyPlantAndEquipmentNet" order="1.0800" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsNoncurrent" xlink:to="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet" order="1.0900" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsNoncurrent" xlink:to="us-gaap_PrepaidExpenseOtherNoncurrent" order="1.1000" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsNoncurrent" xlink:to="us-gaap_DeferredTaxAssetsNetNoncurrent" order="1.1100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_LiabilitiesCurrent" order="1.1700" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_CapitalLeaseObligationsNoncurrent" order="1.1800" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_Liabilities" order="1.1900" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_StockholdersEquity" order="1.2700" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" order="1.1300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_RetentionPayable" order="1.1400" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_CapitalLeaseObligationsCurrent" order="1.1500" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_TaxesPayableCurrent" order="1.1600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_PreferredStockValue" order="1.2000" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_CommonStockValue" order="1.2100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_TreasuryStockValue" order="1.2200" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_AdditionalPaidInCapital" order="1.2300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_RetainedEarningsUnappropriated" order="1.2400" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_RetainedEarningsAppropriated" order="1.2500" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" order="1.2600" weight="1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfIncomeAlternative">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostOfRevenue" xlink:label="us-gaap_CostOfRevenue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="us-gaap_CostsAndExpenses"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ExplorationExpense" xlink:label="us-gaap_ExplorationExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="us-gaap_GeneralAndAdministrativeExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="us-gaap_InvestmentIncomeInterest"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherOperatingIncome" xlink:label="us-gaap_OtherOperatingIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ResearchAndDevelopmentExpense" xlink:label="us-gaap_ResearchAndDevelopmentExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_SellingMarketingAndOtherOperatingExpenses" xlink:label="gure_SellingMarketingAndOtherOperatingExpenses"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_NetIncomeLoss" order="1.1600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" order="1.1700" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_CostOfRevenue" order="1.0200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses" xlink:to="gure_SellingMarketingAndOtherOperatingExpenses" order="1.0300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_ResearchAndDevelopmentExpense" order="1.0400" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_ExplorationExpense" order="1.0500" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_AssetImpairmentCharges" order="1.0600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_GeneralAndAdministrativeExpense" order="1.0700" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_OtherOperatingIncome" order="1.0800" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_OperatingIncomeLoss" order="1.1000" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_NonoperatingIncomeExpense" order="1.1300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" order="1.1400" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_IncomeTaxExpenseBenefit" order="1.1500" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="us-gaap_InterestExpense" order="1.1100" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="us-gaap_InvestmentIncomeInterest" order="1.1200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_Revenues" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_CostsAndExpenses" order="1.0900" weight="-1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfShareholdersEquityAndOtherComprehensiveIncome">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfCashFlowsIndirect">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="us-gaap_AmortizationOfFinancingCosts"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfLeasedAsset" xlink:label="us-gaap_AmortizationOfLeasedAsset"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashPeriodIncreaseDecrease" xlink:label="us-gaap_CashPeriodIncreaseDecrease"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnDispositionOfProperty" xlink:label="us-gaap_GainLossOnDispositionOfProperty"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedTaxesPayable" xlink:label="us-gaap_IncreaseDecreaseInAccruedTaxesPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="us-gaap_IncreaseDecreaseInInventories"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherReceivables" xlink:label="us-gaap_IncreaseDecreaseInOtherReceivables"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInRetainagePayable" xlink:label="us-gaap_IncreaseDecreaseInRetainagePayable"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_InventoryWriteDownAndRecoveries" xlink:label="gure_InventoryWriteDownAndRecoveries"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNoncashIncome" xlink:label="us-gaap_OtherNoncashIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireOtherProductiveAssets" xlink:label="us-gaap_PaymentsToAcquireOtherProductiveAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPrivatePlacement" xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:label="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfDebt" xlink:label="us-gaap_ProceedsFromRepaymentsOfDebt"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt" xlink:label="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="us-gaap_ProceedsFromStockOptionsExercised"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_RepaymentsOfCapitalLeaseObligations" xlink:label="gure_RepaymentsOfCapitalLeaseObligations"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="us-gaap_RepaymentsOfNotesPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfRelatedPartyDebt" xlink:label="us-gaap_RepaymentsOfRelatedPartyDebt"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CashPeriodIncreaseDecrease" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities" order="1.2000" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CashPeriodIncreaseDecrease" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities" order="1.2500" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CashPeriodIncreaseDecrease" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities" order="1.3500" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CashPeriodIncreaseDecrease" xlink:to="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" order="1.3600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_RepaymentsOfNotesPayable" order="1.2600" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" order="1.2700" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock" order="1.2800" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="gure_RepaymentsOfCapitalLeaseObligations" order="1.2900" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_ProceedsFromIssuanceOfPrivatePlacement" order="1.3000" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_ProceedsFromStockOptionsExercised" order="1.3100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_ProceedsFromRepaymentsOfDebt" order="1.3200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt" order="1.3300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_RepaymentsOfRelatedPartyDebt" order="1.3400" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_PaymentsToAcquireOtherProductiveAssets" order="1.2100" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_PaymentsForProceedsFromOtherInvestingActivities" order="1.2200" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" order="1.2300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" order="1.2400" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetIncomeLoss" order="1.0100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_AmortizationOfFinancingCosts" order="1.0200" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_AmortizationOfLeasedAsset" order="1.0300" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_DepreciationAndAmortization" order="1.0400" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="gure_InventoryWriteDownAndRecoveries" order="1.0500" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_AssetImpairmentCharges" order="1.0600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_OtherNoncashIncome" order="1.0700" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" order="1.0800" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_GainLossOnDispositionOfProperty" order="1.0900" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefit" order="1.1000" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_ShareBasedCompensation" order="1.1100" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable" order="1.1200" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_IncreaseDecreaseInInventories" order="1.1300" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" order="1.1400" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_IncreaseDecreaseInOtherReceivables" order="1.1500" weight="-1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" order="1.1600" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_IncreaseDecreaseInRetainagePayable" order="1.1700" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" order="1.1800" weight="1.00" priority="2" use="optional"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_IncreaseDecreaseInAccruedTaxesPayable" order="1.1900" weight="1.00" priority="2" use="optional"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLeasesOfLesseeDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTaxDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDebtAndCapitalLeasesDisclosuresTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRetainedEarningsRestrictionsTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTreasuryStockTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsConcentrationRiskDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsFairValueDisclosuresTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsResearchAndDevelopmentDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsReverseStockSplitDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCommitmentsDisclosureTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLegalMattersAndContingenciesTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSubsequentEventsTextBlock">
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock">
  </calculationLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>10
<FILENAME>gure-20111231_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Definition Linkbase, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version: 6.13.8 -->
<!-- Round: c614353c-260a-4f9b-af26-37e450e6479b -->
<!-- Creation date: 2012-03-12T15:41:36Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xbrldt="http://xbrl.org/2005/xbrldt"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#DocumentDocumentandEntityInformation" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/DocumentDocumentandEntityInformation"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_StatementOfFinancialPositionClassified" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassified"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_StatementOfFinancialPositionClassifiedParen" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_StatementOfIncomeAlternative" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfIncomeAlternative"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_ci-StatementOfShareholdersEquityAndOtherComprehensiveIncome" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfShareholdersEquityAndOtherComprehensiveIncome"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_StatementOfCashFlowsIndirect" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfCashFlowsIndirect"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsLeasesOfLesseeDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLeasesOfLesseeDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsInventoryDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsDisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsCapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsTaxDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTaxDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsDebtAndCapitalLeasesDisclosuresTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDebtAndCapitalLeasesDisclosuresTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsRetainedEarningsRestrictionsTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRetainedEarningsRestrictionsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsTreasuryStockTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTreasuryStockTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsIncomeTaxDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsSegmentReportingDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsSignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsConcentrationRiskDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsConcentrationRiskDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsFairValueDisclosuresTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsFairValueDisclosuresTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsResearchAndDevelopmentDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsResearchAndDevelopmentDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsReverseStockSplitDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsReverseStockSplitDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsCommitmentsDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCommitmentsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsLegalMattersAndContingenciesTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLegalMattersAndContingenciesTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsSubsequentEventsTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSubsequentEventsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsCondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock"/>
  <arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" arcroleURI="http://xbrl.org/int/dim/arcrole/all"/>
  <arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default"/>
  <arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain"/>
  <arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member"/>
  <arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension"/>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/DocumentDocumentandEntityInformation">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntitiesTable" xlink:label="dei_EntitiesTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntitiesTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentType" order="1.0100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_AmendmentFlag" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentPeriodEndDate" order="1.0300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentFiscalYearFocus" order="1.0400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentFiscalPeriodFocus" order="1.0500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_TradingSymbol" order="1.0600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityRegistrantName" order="1.0700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCentralIndexKey" order="1.0800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_CurrentFiscalYearEndDate" order="1.0900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityWellKnownSeasonedIssuer" order="1.1000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCurrentReportingStatus" order="1.1100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityVoluntaryFilers" order="1.1200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityFilerCategory" order="1.1300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCommonStockSharesOutstanding" order="1.1400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityPublicFloat" order="1.1500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="dei_EntitiesTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassified">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="us-gaap_AssetsCurrentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsNoncurrent" xlink:label="us-gaap_AssetsNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsNoncurrentAbstract" xlink:label="us-gaap_AssetsNoncurrentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligationsCurrent" xlink:label="us-gaap_CapitalLeaseObligationsCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligationsNoncurrent" xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet" xlink:label="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Cash" xlink:label="us-gaap_Cash"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesNoncurrentAbstract" xlink:label="us-gaap_LiabilitiesNoncurrentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherPrepaidExpenseCurrent" xlink:label="us-gaap_OtherPrepaidExpenseCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseOtherNoncurrent" xlink:label="us-gaap_PrepaidExpenseOtherNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAppropriated" xlink:label="us-gaap_RetainedEarningsAppropriated"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsUnappropriated" xlink:label="us-gaap_RetainedEarningsUnappropriated"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetentionPayable" xlink:label="us-gaap_RetentionPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TaxesPayableCurrent" xlink:label="us-gaap_TaxesPayableCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="us-gaap_TreasuryStockValue"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_Cash" order="1.3000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AccountsReceivableNetCurrent" order="1.3100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_InventoryNet" order="1.3200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" order="1.3300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_OtherPrepaidExpenseCurrent" order="1.3400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_DeferredTaxAssetsNetCurrent" order="1.3500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrent" order="1.3600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentNet" order="1.0700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet" order="1.0800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_PrepaidExpenseOtherNoncurrent" order="1.0900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_DeferredTaxAssetsNetNoncurrent" order="1.1000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_AssetsNoncurrent" order="1.1100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesNoncurrentAbstract" order="1.0300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_Liabilities" order="1.0400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract" order="1.0500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity" order="1.0600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" order="1.1200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_RetentionPayable" order="1.1300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_CapitalLeaseObligationsCurrent" order="1.1400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_TaxesPayableCurrent" order="1.1500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrent" order="1.1600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_LiabilitiesNoncurrentAbstract" xlink:to="us-gaap_CapitalLeaseObligationsNoncurrent" order="1.2100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_AssetsCurrentAbstract" order="1.1700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_AssetsNoncurrentAbstract" order="1.1800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_Assets" order="1.1900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract" order="1.2000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_PreferredStockValue" order="1.2200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_CommonStockValue" order="1.2300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_TreasuryStockValue" order="1.2400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_AdditionalPaidInCapital" order="1.2500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_RetainedEarningsUnappropriated" order="1.2600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_RetainedEarningsAppropriated" order="1.2700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" order="1.2800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquity" order="1.2900" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain_2"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="us-gaap_TreasuryStockShares"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain_2" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_PreferredStockSharesAuthorized" order="1.0300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_PreferredStockSharesOutstanding" order="1.0400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare" order="1.0500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockSharesAuthorized" order="1.0600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockSharesIssued" order="1.0700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockSharesOutstanding" order="1.0800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_TreasuryStockShares" order="1.0900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfIncomeAlternative">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:label="us-gaap_ComprehensiveIncomeNetOfTaxAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostOfRevenue" xlink:label="us-gaap_CostOfRevenue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="us-gaap_CostsAndExpenses"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="us-gaap_CostsAndExpensesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="us-gaap_EarningsPerShareAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="us-gaap_EarningsPerShareBasic"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="us-gaap_EarningsPerShareDiluted"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ExplorationExpense" xlink:label="us-gaap_ExplorationExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="us-gaap_GeneralAndAdministrativeExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="us-gaap_InvestmentIncomeInterest"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NonoperatingIncomeExpenseAbstract" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherOperatingIncome" xlink:label="us-gaap_OtherOperatingIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ResearchAndDevelopmentExpense" xlink:label="us-gaap_ResearchAndDevelopmentExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_SellingMarketingAndOtherOperatingExpenses" xlink:label="gure_SellingMarketingAndOtherOperatingExpenses"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:to="us-gaap_NetIncomeLoss" order="1.0500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:to="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" order="1.0600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax" order="1.0700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_CostOfRevenue" order="1.1800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="gure_SellingMarketingAndOtherOperatingExpenses" order="1.1900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_ResearchAndDevelopmentExpense" order="1.2000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_ExplorationExpense" order="1.2100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_AssetImpairmentCharges" order="1.2200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_GeneralAndAdministrativeExpense" order="1.2300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_OtherOperatingIncome" order="1.2400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_CostsAndExpenses" order="1.2500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareBasic" order="1.0300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareDiluted" order="1.0400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_InterestExpense" order="1.2700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_InvestmentIncomeInterest" order="1.2800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_NonoperatingIncomeExpense" order="1.2900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:to="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" order="1.2600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_Revenues" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_RevenuesAbstract" order="1.0800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CostsAndExpensesAbstract" order="1.0900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_OperatingIncomeLoss" order="1.1000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_NonoperatingIncomeExpenseAbstract" order="1.1100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" order="1.1200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_IncomeTaxExpenseBenefit" order="1.1300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_ComprehensiveIncomeNetOfTaxAbstract" order="1.1500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_EarningsPerShareAbstract" order="1.1600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" order="1.1700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" order="1.3000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" order="1.3100" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfShareholdersEquityAndOtherComprehensiveIncome">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedTranslationAdjustmentMember" xlink:label="us-gaap_AccumulatedTranslationAdjustmentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="us-gaap_AdditionalPaidInCapitalMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_AdjustmentToCommonStockIssuedShares" xlink:label="gure_AdjustmentToCommonStockIssuedShares"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain_2"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesPayableMember" xlink:label="gure_NotesPayableMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrivatePlacementMember" xlink:label="us-gaap_PrivatePlacementMember"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_Reclassification" xlink:label="gure_Reclassification"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAppropriatedMember" xlink:label="us-gaap_RetainedEarningsAppropriatedMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsUnappropriatedMember" xlink:label="us-gaap_RetainedEarningsUnappropriatedMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_StockIssuedDuringPeriodSharesStockWarrantsExercised" xlink:label="gure_StockIssuedDuringPeriodSharesStockWarrantsExercised"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_StockIssuedDuringPeriodValueStockWarrantsExercised" xlink:label="gure_StockIssuedDuringPeriodValueStockWarrantsExercised"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_TransferToRetainedEarningsAppropriatedForLegalReserve" xlink:label="gure_TransferToRetainedEarningsAppropriatedForLegalReserve"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="us-gaap_TreasuryStockMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockSharesAcquired" xlink:label="us-gaap_TreasuryStockSharesAcquired"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:label="us-gaap_TreasuryStockValueAcquiredCostMethod"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_CommonStockMember" order="1.2700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_TreasuryStockMember" order="1.2800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_AdditionalPaidInCapitalMember" order="1.2900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_RetainedEarningsAppropriatedMember" order="1.3000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_RetainedEarningsUnappropriatedMember" order="1.3100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_AccumulatedTranslationAdjustmentMember" order="1.3200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="gure_NotesPayableMember" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_PrivatePlacementMember" order="1.0300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_EquityComponentDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_EquityComponentDomain_2" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockSharesOutstanding" order="1.0400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockSharesIssued" order="1.0500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockholdersEquity" order="1.0600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" order="1.0700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_TreasuryStockSharesAcquired" order="1.0800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_TreasuryStockValueAcquiredCostMethod" order="1.0900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" order="1.1000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" order="1.1100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_StockIssuedDuringPeriodSharesStockWarrantsExercised" order="1.1200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_StockIssuedDuringPeriodValueStockWarrantsExercised" order="1.1300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockIssuedDuringPeriodSharesAcquisitions" order="1.1400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockIssuedDuringPeriodValueAcquisitions" order="1.1500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued" order="1.1600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" order="1.1700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_NetIncomeLoss" order="1.1800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_AdjustmentToCommonStockIssuedShares" order="1.1900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_TransferToRetainedEarningsAppropriatedForLegalReserve" order="1.2000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_Reclassification" order="1.2200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues" order="1.2500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues" order="1.2600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_ScenarioUnspecifiedDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementEquityComponentsAxis" order="2.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementScenarioAxis" order="3.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfCashFlowsIndirect">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="us-gaap_AmortizationOfFinancingCosts"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfLeasedAsset" xlink:label="us-gaap_AmortizationOfLeasedAsset"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligationsIncurred" xlink:label="us-gaap_CapitalLeaseObligationsIncurred"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Cash" xlink:label="us-gaap_Cash"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashPeriodIncreaseDecrease" xlink:label="us-gaap_CashPeriodIncreaseDecrease"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnDispositionOfProperty" xlink:label="us-gaap_GainLossOnDispositionOfProperty"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxesPaid" xlink:label="us-gaap_IncomeTaxesPaid"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedTaxesPayable" xlink:label="us-gaap_IncreaseDecreaseInAccruedTaxesPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="us-gaap_IncreaseDecreaseInInventories"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherReceivables" xlink:label="us-gaap_IncreaseDecreaseInOtherReceivables"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInRetainagePayable" xlink:label="us-gaap_IncreaseDecreaseInRetainagePayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestPaid" xlink:label="us-gaap_InterestPaid"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_InventoryWriteDownAndRecoveries" xlink:label="gure_InventoryWriteDownAndRecoveries"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesPayableMember" xlink:label="gure_NotesPayableMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNoncashIncome" xlink:label="us-gaap_OtherNoncashIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireOtherProductiveAssets" xlink:label="us-gaap_PaymentsToAcquireOtherProductiveAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPrivatePlacement" xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:label="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfDebt" xlink:label="us-gaap_ProceedsFromRepaymentsOfDebt"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt" xlink:label="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="us-gaap_ProceedsFromStockOptionsExercised"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_PropertyPlantAndEquipmentMember" xlink:label="gure_PropertyPlantAndEquipmentMember"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_RepaymentsOfCapitalLeaseObligations" xlink:label="gure_RepaymentsOfCapitalLeaseObligations"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="us-gaap_RepaymentsOfNotesPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfRelatedPartyDebt" xlink:label="us-gaap_RepaymentsOfRelatedPartyDebt"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain_2"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssued1" xlink:label="us-gaap_StockIssued1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockOptionMember" xlink:label="us-gaap_StockOptionMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalCashFlowElementsAbstract" xlink:label="us-gaap_SupplementalCashFlowElementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WarrantMember" xlink:label="us-gaap_WarrantMember"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AmortizationOfFinancingCosts" order="1.3400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AmortizationOfLeasedAsset" order="1.3500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_DepreciationAndAmortization" order="1.3600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="gure_InventoryWriteDownAndRecoveries" order="1.3700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AssetImpairmentCharges" order="1.3800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_OtherNoncashIncome" order="1.3900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" order="1.4000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_GainLossOnDispositionOfProperty" order="1.4100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefit" order="1.4200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_ShareBasedCompensation" order="1.4300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" order="1.4400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="us-gaap_CapitalLeaseObligationsIncurred" order="1.5500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="us-gaap_StockIssued1" order="1.5600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable" order="1.0900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInInventories" order="1.1000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" order="1.1100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOtherReceivables" order="1.1200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" order="1.1300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInRetainagePayable" order="1.1400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" order="1.1500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInAccruedTaxesPayable" order="1.1600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_RepaymentsOfNotesPayable" order="1.1700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" order="1.1800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock" order="1.1900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="gure_RepaymentsOfCapitalLeaseObligations" order="1.2000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_ProceedsFromIssuanceOfPrivatePlacement" order="1.2100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_ProceedsFromStockOptionsExercised" order="1.2200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_ProceedsFromRepaymentsOfDebt" order="1.2300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt" order="1.2400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_RepaymentsOfRelatedPartyDebt" order="1.2500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities" order="1.2600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_PaymentsToAcquireOtherProductiveAssets" order="1.0400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_PaymentsForProceedsFromOtherInvestingActivities" order="1.0500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" order="1.0600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" order="1.0700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities" order="1.0800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetIncomeLoss" order="1.3100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" order="1.3200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities" order="1.3300" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_StockOptionMember" order="1.2700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_WarrantMember" order="1.2800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="gure_NotesPayableMember" order="1.2900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="gure_PropertyPlantAndEquipmentMember" order="1.3000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" order="1.4700" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" order="1.4800" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" order="1.4900" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" order="1.5000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CashPeriodIncreaseDecrease" order="1.5100" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_Cash" order="1.5200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_SupplementalCashFlowElementsAbstract" order="1.5400" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_ScenarioUnspecifiedDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_ScenarioUnspecifiedDomain_2" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementScenarioAxis" order="2.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_SupplementalCashFlowElementsAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract" order="1.4500" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_SupplementalCashFlowElementsAbstract" xlink:to="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" order="1.4600" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_IncomeTaxesPaid" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_InterestPaid" order="1.0300" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLeasesOfLesseeDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeasesOfLesseeDisclosureTextBlock" xlink:label="us-gaap_LeasesOfLesseeDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_LeasesOfLesseeDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InventoryDisclosureTextBlock" xlink:label="us-gaap_InventoryDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_InventoryDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock">
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock" xlink:label="gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock" xlink:label="us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTaxDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_TaxDisclosureTextBlock" xlink:label="gure_TaxDisclosureTextBlock"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_TaxDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDebtAndCapitalLeasesDisclosuresTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock" xlink:label="us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRetainedEarningsRestrictionsTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_RetainedEarningsRestrictionsTextBlock" xlink:label="gure_RetainedEarningsRestrictionsTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_RetainedEarningsRestrictionsTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTreasuryStockTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockTextBlock" xlink:label="us-gaap_TreasuryStockTextBlock"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_TreasuryStockTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_SegmentReportingDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock" xlink:label="us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsConcentrationRiskDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_ConcentrationRiskDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsFairValueDisclosuresTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="us-gaap_FairValueDisclosuresTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_FairValueDisclosuresTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsResearchAndDevelopmentDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_ResearchAndDevelopmentDisclosureTextBlock" xlink:label="gure_ResearchAndDevelopmentDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_ResearchAndDevelopmentDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsReverseStockSplitDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_ReverseStockSplitDisclosureTextBlock" xlink:label="gure_ReverseStockSplitDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_ReverseStockSplitDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCommitmentsDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommitmentsDisclosureTextBlock" xlink:label="us-gaap_CommitmentsDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommitmentsDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLegalMattersAndContingenciesTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LegalMattersAndContingenciesTextBlock" xlink:label="us-gaap_LegalMattersAndContingenciesTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_LegalMattersAndContingenciesTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSubsequentEventsTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_SubsequentEventsTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:label="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" order="100.0000" xbrldt:closed="true" xbrldt:contextElement="segment" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" order="1.0200" priority="2" use="optional"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" priority="2" use="optional"/>
  </definitionLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>11
<FILENAME>gure-20111231_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Labels Linkbase, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version: 6.13.8 -->
<!-- Round: c614353c-260a-4f9b-af26-37e450e6479b -->
<!-- Creation date: 2012-03-12T15:41:36Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2008-03-31.xsd#negated" roleURI="http://xbrl.us/us-gaap/role/label/negated"/>
  <roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2008-03-31.xsd#negatedTotal" roleURI="http://xbrl.us/us-gaap/role/label/negatedTotal"/>
  <labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accounts Payable And Accrued Liabilities Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accounts payable and accrued expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xml:lang="en-US">Accounts Payable And Accrued Liabilities Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xml:lang="en-US">ACCOUNTS PAYABLE AND ACCRUED EXPENSE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xml:lang="en-US">Accounts Receivable Net Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xml:lang="en-US">Accounts receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_lbl" xml:lang="en-US">Cumulative translation adjustment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedTranslationAdjustmentMember" xlink:label="us-gaap_AccumulatedTranslationAdjustmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedTranslationAdjustmentMember_lbl" xml:lang="en-US">Accumulated Translation Adjustment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccumulatedTranslationAdjustmentMember_lbl" xml:lang="en-US">Cumulative translation adjustment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedTranslationAdjustmentMember" xlink:to="us-gaap_AccumulatedTranslationAdjustmentMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional Paid In Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="us-gaap_AdditionalPaidInCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US">Additional Paid In Capital [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_lbl" xml:lang="en-US">Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_lbl" xml:lang="en-US">Issuance of stock options to employees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued_lbl" xml:lang="en-US">Adjustments To Additional Paid In Capital Warrant Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued_lbl" xml:lang="en-US">Issuance of warrants to non-employees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_AdjustmentToCommonStockIssuedShares" xlink:label="gure_AdjustmentToCommonStockIssuedShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_AdjustmentToCommonStockIssuedShares_lbl" xml:lang="en-US">Adjustment to common stock issued, shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_AdjustmentToCommonStockIssuedShares_lbl" xml:lang="en-US">Adjustment To Common Stock Issued Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_AdjustmentToCommonStockIssuedShares_lbl" xml:lang="en-US">Fractional shares upon reverse stock split</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_AdjustmentToCommonStockIssuedShares" xlink:to="gure_AdjustmentToCommonStockIssuedShares_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="us-gaap_AmortizationOfFinancingCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xml:lang="en-US">Amortization Of Financing Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfFinancingCosts_lbl" xml:lang="en-US">Interest on capital lease obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfFinancingCosts" xlink:to="us-gaap_AmortizationOfFinancingCosts_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfLeasedAsset" xlink:label="us-gaap_AmortizationOfLeasedAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AmortizationOfLeasedAsset_lbl" xml:lang="en-US">Amortization Of Leased Asset</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfLeasedAsset_lbl" xml:lang="en-US">Amortization of prepaid land leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfLeasedAsset" xlink:to="us-gaap_AmortizationOfLeasedAsset_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xml:lang="en-US">Asset Impairment Charges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xml:lang="en-US">Write-off / Impairment loss on property, plant and equipment</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_AssetImpairmentCharges_lbl" xml:lang="en-US">Write-off / Impairment on property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetImpairmentCharges" xlink:to="us-gaap_AssetImpairmentCharges_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">Total Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US">Assets Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US">Total Current Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="us-gaap_AssetsCurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US">Assets Current [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US">Current Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsNoncurrent" xlink:label="us-gaap_AssetsNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsNoncurrent_lbl" xml:lang="en-US">Assets Noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsNoncurrent_lbl" xml:lang="en-US">Total non-current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsNoncurrent" xlink:to="us-gaap_AssetsNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsNoncurrentAbstract" xlink:label="us-gaap_AssetsNoncurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsNoncurrentAbstract_lbl" xml:lang="en-US">Assets Noncurrent [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsNoncurrentAbstract_lbl" xml:lang="en-US">Non-Current Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_AssetsNoncurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Basis Of Presentation And Significant Accounting Policies [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligationsCurrent" xlink:label="us-gaap_CapitalLeaseObligationsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeaseObligationsCurrent_lbl" xml:lang="en-US">Capital Lease Obligations Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeaseObligationsCurrent_lbl" xml:lang="en-US">Capital lease obligation, current portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeaseObligationsCurrent" xlink:to="us-gaap_CapitalLeaseObligationsCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligationsIncurred" xlink:label="us-gaap_CapitalLeaseObligationsIncurred"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeaseObligationsIncurred_lbl" xml:lang="en-US">Capital Lease Obligations Incurred</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeaseObligationsIncurred_lbl" xml:lang="en-US">Inception capital lease obligation for acquiring property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeaseObligationsIncurred" xlink:to="us-gaap_CapitalLeaseObligationsIncurred_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligationsNoncurrent" xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent_lbl" xml:lang="en-US">Capital Lease Obligations Noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent_lbl" xml:lang="en-US">Capital lease obligation, net of current portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeaseObligationsNoncurrent" xlink:to="us-gaap_CapitalLeaseObligationsNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet" xlink:label="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet_lbl" xml:lang="en-US">Capital Leases Balance Sheet Assets By Major Class Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet_lbl" xml:lang="en-US">Property, plant and equipment under capital leases, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet" xlink:to="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock" xlink:label="us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock_lbl" xml:lang="en-US">Capital Leases In Financial Statements Of Lessee Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock_lbl" xml:lang="en-US">PROPERTY, PLANT AND EQUIPMENT UNDER CAPITAL LEASES, NET</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock" xlink:to="us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Cash" xlink:label="us-gaap_Cash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Cash_lbl" xml:lang="en-US">Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_Cash_lbl" xml:lang="en-US">CASH AND CASH EQUIVALENTS - END OF YEAR</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_Cash_lbl" xml:lang="en-US">CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Cash_lbl" xml:lang="en-US">Cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Cash" xlink:to="us-gaap_Cash_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_lbl" xml:lang="en-US">Cash Flow Noncash Investing And Financing Activities Disclosure [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_lbl" xml:lang="en-US">SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashPeriodIncreaseDecrease" xlink:label="us-gaap_CashPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashPeriodIncreaseDecrease_lbl" xml:lang="en-US">Cash Period Increase Decrease</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashPeriodIncreaseDecrease_lbl" xml:lang="en-US">NET INCREASE IN CASH AND CASH EQUIVALENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashPeriodIncreaseDecrease" xlink:to="us-gaap_CashPeriodIncreaseDecrease_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommitmentsDisclosureTextBlock" xlink:label="us-gaap_CommitmentsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsDisclosureTextBlock_lbl" xml:lang="en-US">Commitments Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommitmentsDisclosureTextBlock_lbl" xml:lang="en-US">CAPITAL COMMITMENT AND OPERATING LEASE COMMITMENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsDisclosureTextBlock" xlink:to="us-gaap_CommitmentsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common Stock Par Or Stated Value Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">COMMON STOCK, par value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Common Stock Shares Authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">COMMON STOCK, shares authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common Stock Shares Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">ENDING BALANCE (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">BEGINNING BALANCE (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">COMMON STOCK, shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common Stock Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">ENDING BALANCE (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">BEGINNING BALANCE (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">COMMON STOCK, shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common Stock Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">COMMON STOCK; $0.0005 par value; 100,000,000 shares authorized; 34,745,342 and 34,735,912 shares issued; and 34,560,743 and 34,735,912 shares outstanding as of December 31, 2011 and 2010, respectively</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xml:lang="en-US">Comprehensive Income Net Of Tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xml:lang="en-US">COMPREHENSIVE INCOME</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:label="us-gaap_ComprehensiveIncomeNetOfTaxAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComprehensiveIncomeNetOfTaxAbstract_lbl" xml:lang="en-US">Comprehensive Income Net Of Tax [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ComprehensiveIncomeNetOfTaxAbstract_lbl" xml:lang="en-US">COMPREHENSIVE INCOME:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:to="us-gaap_ComprehensiveIncomeNetOfTaxAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" xml:lang="en-US">Concentration Risk Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl" xml:lang="en-US">CUSTOMER CONCENTRATION</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:to="us-gaap_ConcentrationRiskDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:label="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_lbl" xml:lang="en-US">Condensed Financial Information Of Parent Company Only Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_lbl" xml:lang="en-US">PARENT ONLY FINANCIAL INFORMATION</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:to="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostOfRevenue" xlink:label="us-gaap_CostOfRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostOfRevenue_lbl" xml:lang="en-US">Cost Of Revenue</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_CostOfRevenue_lbl" xml:lang="en-US">Cost of net revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfRevenue" xlink:to="us-gaap_CostOfRevenue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="us-gaap_CostsAndExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostsAndExpenses_lbl" xml:lang="en-US">Costs And Expenses</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negatedTotal" xlink:label="us-gaap_CostsAndExpenses_lbl" xml:lang="en-US">Costs and Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_CostsAndExpenses_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="us-gaap_CostsAndExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostsAndExpensesAbstract_lbl" xml:lang="en-US">Costs And Expenses [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CostsAndExpensesAbstract_lbl" xml:lang="en-US">OPERATING EXPENSES / INCOME</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_CostsAndExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock" xlink:label="us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock_lbl" xml:lang="en-US">Debt And Capital Leases Disclosures [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock_lbl" xml:lang="en-US">CAPITAL LEASE OBLIGATIONS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock" xlink:to="us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred Income Tax Expense Benefit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred tax asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent_lbl" xml:lang="en-US">Deferred Tax Assets Net Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent_lbl" xml:lang="en-US">Deferred tax assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNetCurrent" xlink:to="us-gaap_DeferredTaxAssetsNetCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl" xml:lang="en-US">Deferred Tax Assets Net Noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl" xml:lang="en-US">Deferred tax assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:to="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationAndAmortization_lbl" xml:lang="en-US">Depreciation And Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DepreciationAndAmortization_lbl" xml:lang="en-US">Depreciation and amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xml:lang="en-US">Disclosure Of Compensation Related Costs Share Based Payments [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xml:lang="en-US">STOCK-BASED COMPENSATION</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock" xlink:label="gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock_lbl" xml:lang="en-US">Disclosure of Deferred Costs, Capitalized, Prepaid, and Other Assets [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock_lbl" xml:lang="en-US">Disclosure Of Deferred Costs Capitalized Prepaid And Other Assets [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock_lbl" xml:lang="en-US">PREPAID LAND LEASE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock" xlink:to="gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_DocumentDocumentandEntityInformationAbstract" xlink:label="gure_DocumentDocumentandEntityInformationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_DocumentDocumentandEntityInformationAbstract_lbl" xml:lang="en-US">Document - Document and Entity Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_DocumentDocumentandEntityInformationAbstract_lbl" xml:lang="en-US">Document Documentand Entity Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_DocumentDocumentandEntityInformationAbstract_lbl" xml:lang="en-US">Document - Document and Entity Information [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_DocumentDocumentandEntityInformationAbstract" xlink:to="gure_DocumentDocumentandEntityInformationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentInformationLineItems_lbl" xml:lang="en-US">Document Information [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentInformationLineItems_lbl" xml:lang="en-US">Document Information [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="us-gaap_EarningsPerShareAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US">Earnings Per Share [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US">EARNINGS PER SHARE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="us-gaap_EarningsPerShareBasic"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Earnings Per Share Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">BASIC</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="us-gaap_EarningsPerShareDiluted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Earnings Per Share Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">DILUTED</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect Of Exchange Rate On Cash And Cash Equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" xml:lang="en-US">EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:to="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntitiesTable" xlink:label="dei_EntitiesTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitiesTable_lbl" xml:lang="en-US">Entities [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntitiesTable_lbl" xml:lang="en-US">Entities [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitiesTable" xlink:to="dei_EntitiesTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US">Entity [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityDomain_lbl" xml:lang="en-US">Entity [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well Known Seasoned Issuer</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityComponentDomain_lbl" xml:lang="en-US">Equity Component [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EquityComponentDomain_lbl" xml:lang="en-US">Equity Component [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ExplorationExpense" xlink:label="us-gaap_ExplorationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ExplorationExpense_lbl" xml:lang="en-US">Exploration Expense</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_ExplorationExpense_lbl" xml:lang="en-US">Exploration costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ExplorationExpense" xlink:to="us-gaap_ExplorationExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="us-gaap_FairValueDisclosuresTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US">Fair Value Disclosures [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US">FAIR VALUE OF FINANCIAL INSTRUMENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" xml:lang="en-US">Foreign Currency Transaction Gain Loss Unrealized</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" xml:lang="en-US">Exchange loss on inter-company balances</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnDispositionOfProperty" xlink:label="us-gaap_GainLossOnDispositionOfProperty"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnDispositionOfProperty_lbl" xml:lang="en-US">Gain Loss On Disposition Of Property</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_GainLossOnDispositionOfProperty_lbl" xml:lang="en-US">Loss from disposal of property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnDispositionOfProperty" xlink:to="us-gaap_GainLossOnDispositionOfProperty_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="us-gaap_GeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US">General And Administrative Expense</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_GeneralAndAdministrativeExpense_lbl" xml:lang="en-US">General and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralAndAdministrativeExpense" xlink:to="us-gaap_GeneralAndAdministrativeExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">INCOME BEFORE TAXES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US">Income Statement [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US">Income Statement [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xml:lang="en-US">Income Tax Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xml:lang="en-US">INCOME TAXES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxesPaid" xlink:label="us-gaap_IncomeTaxesPaid"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxesPaid_lbl" xml:lang="en-US">Income Taxes Paid</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxesPaid_lbl" xml:lang="en-US">Income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxesPaid" xlink:to="us-gaap_IncomeTaxesPaid_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Income Tax Expense Benefit</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">INCOME TAXES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Increase Decrease In Accounts Payable And Accrued Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Accounts payable and accrued expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US">Increase Decrease In Accounts Receivable</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US">Accounts receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedTaxesPayable" xlink:label="us-gaap_IncreaseDecreaseInAccruedTaxesPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccruedTaxesPayable_lbl" xml:lang="en-US">Increase Decrease In Accrued Taxes Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccruedTaxesPayable_lbl" xml:lang="en-US">Taxes payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedTaxesPayable" xlink:to="us-gaap_IncreaseDecreaseInAccruedTaxesPayable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent_lbl" xml:lang="en-US">Increase Decrease In Due To Related Parties Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent_lbl" xml:lang="en-US">Due to related parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" xlink:to="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="us-gaap_IncreaseDecreaseInInventories"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInInventories_lbl" xml:lang="en-US">Increase Decrease In Inventories</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_IncreaseDecreaseInInventories_lbl" xml:lang="en-US">Inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInventories" xlink:to="us-gaap_IncreaseDecreaseInInventories_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US">Increase Decrease In Operating Capital [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US">Changes in assets and liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherReceivables" xlink:label="us-gaap_IncreaseDecreaseInOtherReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOtherReceivables_lbl" xml:lang="en-US">Increase Decrease In Other Receivables</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_IncreaseDecreaseInOtherReceivables_lbl" xml:lang="en-US">Other receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOtherReceivables" xlink:to="us-gaap_IncreaseDecreaseInOtherReceivables_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xml:lang="en-US">Increase Decrease In Prepaid Deferred Expense And Other Assets</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl" xml:lang="en-US">Prepayment and deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInRetainagePayable" xlink:label="us-gaap_IncreaseDecreaseInRetainagePayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInRetainagePayable_lbl" xml:lang="en-US">Increase Decrease In Retainage Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInRetainagePayable_lbl" xml:lang="en-US">Retention payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInRetainagePayable" xlink:to="us-gaap_IncreaseDecreaseInRetainagePayable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US">Interest Expense</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US">Interest expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="us-gaap_InterestExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestPaid" xlink:label="us-gaap_InterestPaid"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPaid_lbl" xml:lang="en-US">Interest Paid</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestPaid_lbl" xml:lang="en-US">Interest paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaid" xlink:to="us-gaap_InterestPaid_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InventoryDisclosureTextBlock" xlink:label="us-gaap_InventoryDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryDisclosureTextBlock_lbl" xml:lang="en-US">Inventory Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InventoryDisclosureTextBlock_lbl" xml:lang="en-US">INVENTORIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureTextBlock" xlink:to="us-gaap_InventoryDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryNet_lbl" xml:lang="en-US">Inventory Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InventoryNet_lbl" xml:lang="en-US">Inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_InventoryWriteDownAndRecoveries" xlink:label="gure_InventoryWriteDownAndRecoveries"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_InventoryWriteDownAndRecoveries_lbl" xml:lang="en-US">Inventory Write-Down and Recoveries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_InventoryWriteDownAndRecoveries_lbl" xml:lang="en-US">Inventory Write Down And Recoveries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_InventoryWriteDownAndRecoveries_lbl" xml:lang="en-US">Allowance/(Reversal of allowance) for obsolete and slow-moving inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_InventoryWriteDownAndRecoveries" xlink:to="gure_InventoryWriteDownAndRecoveries_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="us-gaap_InvestmentIncomeInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US">Investment Income Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US">Interest income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeasesOfLesseeDisclosureTextBlock" xlink:label="us-gaap_LeasesOfLesseeDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeasesOfLesseeDisclosureTextBlock_lbl" xml:lang="en-US">Leases Of Lessee Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeasesOfLesseeDisclosureTextBlock_lbl" xml:lang="en-US">ASSETS ACQUISITIONS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasesOfLesseeDisclosureTextBlock" xlink:to="us-gaap_LeasesOfLesseeDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LegalEntityAxis_lbl" xml:lang="en-US">Legal Entity [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_LegalEntityAxis_lbl" xml:lang="en-US">Legal Entity [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LegalMattersAndContingenciesTextBlock" xlink:label="us-gaap_LegalMattersAndContingenciesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LegalMattersAndContingenciesTextBlock_lbl" xml:lang="en-US">Legal Matters And Contingencies [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LegalMattersAndContingenciesTextBlock_lbl" xml:lang="en-US">LEGAL PROCEEDINGS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LegalMattersAndContingenciesTextBlock" xlink:to="us-gaap_LegalMattersAndContingenciesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Liabilities And Stockholders Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total Liabilities and Stockholders' Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US">Liabilities And Stockholders Equity [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US">Liabilities and Stockholders' Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US">Liabilities Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US">Total Current Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US">Liabilities Current [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US">Current Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesNoncurrentAbstract" xlink:label="us-gaap_LiabilitiesNoncurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesNoncurrentAbstract_lbl" xml:lang="en-US">Liabilities Noncurrent [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesNoncurrentAbstract_lbl" xml:lang="en-US">Non-Current Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesNoncurrentAbstract" xlink:to="us-gaap_LiabilitiesNoncurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net Cash Provided By Used In Financing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash (used in)/provided by financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Net Cash Provided By Used In Financing Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">CASH FLOWS FROM FINANCING ACTIVITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net Cash Provided By Used In Investing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash used in investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Net Cash Provided By Used In Investing Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">CASH FLOWS USED IN INVESTING ACTIVITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net Cash Provided By Used In Operating Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Net Cash Provided By Used In Operating Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">CASH FLOWS FROM OPERATING ACTIVITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net Income Loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">NET INCOME</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US">Nonoperating Income Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US">Nonoperating Income (Expense), Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="us-gaap_NonoperatingIncomeExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NonoperatingIncomeExpenseAbstract" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xml:lang="en-US">Nonoperating Income Expense [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xml:lang="en-US">OTHER INCOME (EXPENSES)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_NonoperatingIncomeExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesPayableMember" xlink:label="gure_NotesPayableMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_NotesPayableMember_lbl" xml:lang="en-US">Notes Payable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_NotesPayableMember_lbl" xml:lang="en-US">Notes Payable [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_NotesPayableMember_lbl" xml:lang="en-US">Settlement of Stockholder's Notes Payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_NotesPayableMember" xlink:to="gure_NotesPayableMember_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_NotesToFinancialStatementsAbstract_lbl" xml:lang="en-US">Notes to Financial Statements [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_NotesToFinancialStatementsAbstract_lbl" xml:lang="en-US">Notes To Financial Statements [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_NotesToFinancialStatementsAbstract_lbl" xml:lang="en-US">Notes to Financial Statements [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="gure_NotesToFinancialStatementsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US">Operating Income Loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US">INCOME FROM OPERATIONS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US">Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US">- Foreign currency translation adjustments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US">Translation adjustment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:to="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_lbl" xml:lang="en-US">Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_lbl" xml:lang="en-US">OTHER COMPREHENSIVE INCOME</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:to="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNoncashIncome" xlink:label="us-gaap_OtherNoncashIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNoncashIncome_lbl" xml:lang="en-US">Other Noncash Income</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_OtherNoncashIncome_lbl" xml:lang="en-US">Compensation income from local government for demolition of factory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNoncashIncome" xlink:to="us-gaap_OtherNoncashIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherOperatingIncome" xlink:label="us-gaap_OtherOperatingIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherOperatingIncome_lbl" xml:lang="en-US">Other Operating Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherOperatingIncome_lbl" xml:lang="en-US">Other operating income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherOperatingIncome" xlink:to="us-gaap_OtherOperatingIncome_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherPrepaidExpenseCurrent" xlink:label="us-gaap_OtherPrepaidExpenseCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherPrepaidExpenseCurrent_lbl" xml:lang="en-US">Other Prepaid Expense Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherPrepaidExpenseCurrent_lbl" xml:lang="en-US">Prepaid land leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherPrepaidExpenseCurrent" xlink:to="us-gaap_OtherPrepaidExpenseCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl" xml:lang="en-US">Payments For Proceeds From Other Investing Activities</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl" xml:lang="en-US">Compensation received for demolition of factory</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:to="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US">Payments For Repurchase Of Common Stock</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US">Repurchase of common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireOtherProductiveAssets" xlink:label="us-gaap_PaymentsToAcquireOtherProductiveAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireOtherProductiveAssets_lbl" xml:lang="en-US">Payments To Acquire Other Productive Assets</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquireOtherProductiveAssets_lbl" xml:lang="en-US">Additions of prepaid land leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireOtherProductiveAssets" xlink:to="us-gaap_PaymentsToAcquireOtherProductiveAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Payments To Acquire Property Plant And Equipment</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Purchase of property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Preferred Stock Par Or Stated Value Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US">PREFERRED STOCK, par value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US">Preferred Stock Shares Authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US">PREFERRED STOCK, shares authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US">Preferred Stock Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US">PREFERRED STOCK, outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Preferred Stock Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xml:lang="en-US">Prepaid Expense And Other Assets Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xml:lang="en-US">Prepayments and deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseOtherNoncurrent" xlink:label="us-gaap_PrepaidExpenseOtherNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseOtherNoncurrent_lbl" xml:lang="en-US">Prepaid Expense Other Noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PrepaidExpenseOtherNoncurrent_lbl" xml:lang="en-US">Prepaid land leases, net of current portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseOtherNoncurrent" xlink:to="us-gaap_PrepaidExpenseOtherNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrivatePlacementMember" xlink:label="us-gaap_PrivatePlacementMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrivatePlacementMember_lbl" xml:lang="en-US">Private Placement [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PrivatePlacementMember_lbl" xml:lang="en-US">Private Placement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrivatePlacementMember" xlink:to="us-gaap_PrivatePlacementMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPrivatePlacement" xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement_lbl" xml:lang="en-US">Proceeds From Issuance Of Private Placement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement_lbl" xml:lang="en-US">Proceeds from private placement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfPrivatePlacement" xlink:to="us-gaap_ProceedsFromIssuanceOfPrivatePlacement_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:label="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_lbl" xml:lang="en-US">Proceeds From Payments For Other Financing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_lbl" xml:lang="en-US">Repayment of stockholder's notes payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:to="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfDebt" xlink:label="us-gaap_ProceedsFromRepaymentsOfDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromRepaymentsOfDebt_lbl" xml:lang="en-US">Proceeds From Repayments Of Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromRepaymentsOfDebt_lbl" xml:lang="en-US">Repayment of loan payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromRepaymentsOfDebt" xlink:to="us-gaap_ProceedsFromRepaymentsOfDebt_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt" xlink:label="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt_lbl" xml:lang="en-US">Proceeds From Repayments Of Related Party Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt_lbl" xml:lang="en-US">Advances (to)/from related parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt" xlink:to="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl" xml:lang="en-US">Proceeds From Sale Of Property Plant And Equipment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl" xml:lang="en-US">Proceeds from sales of property, plant and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:to="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="us-gaap_ProceedsFromStockOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl" xml:lang="en-US">Proceeds From Stock Options Exercised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl" xml:lang="en-US">Proceeds from exercising stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromStockOptionsExercised" xlink:to="us-gaap_ProceedsFromStockOptionsExercised_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xml:lang="en-US">Property Plant And Equipment Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xml:lang="en-US">PROPERTY, PLANT AND EQUIPMENT, NET</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_PropertyPlantAndEquipmentMember" xlink:label="gure_PropertyPlantAndEquipmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_PropertyPlantAndEquipmentMember_lbl" xml:lang="en-US">Property Plant and Equipment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_PropertyPlantAndEquipmentMember_lbl" xml:lang="en-US">Property Plant And Equipment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_PropertyPlantAndEquipmentMember_lbl" xml:lang="en-US">Property Plant and Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_PropertyPlantAndEquipmentMember" xlink:to="gure_PropertyPlantAndEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Property Plant And Equipment Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Property, plant and equipment, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_Reclassification" xlink:label="gure_Reclassification"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_Reclassification_lbl" xml:lang="en-US">Reclassifications</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_Reclassification_lbl" xml:lang="en-US">Reclassification</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_Reclassification_lbl" xml:lang="en-US">Reclassification adjustment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_Reclassification" xlink:to="gure_Reclassification_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US">DUE TO A RELATED PARTY AND RELATED PARTY TRANSACTIONS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_RepaymentsOfCapitalLeaseObligations" xlink:label="gure_RepaymentsOfCapitalLeaseObligations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_RepaymentsOfCapitalLeaseObligations_lbl" xml:lang="en-US">The cash outflow for the obligation for lease meeting the criteria for capitalization (includes both long and short term portions).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_RepaymentsOfCapitalLeaseObligations_lbl" xml:lang="en-US">Repayments Of Capital Lease Obligations</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="gure_RepaymentsOfCapitalLeaseObligations_lbl" xml:lang="en-US">Repayment of capital lease obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_RepaymentsOfCapitalLeaseObligations" xlink:to="gure_RepaymentsOfCapitalLeaseObligations_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="us-gaap_RepaymentsOfNotesPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfNotesPayable_lbl" xml:lang="en-US">Repayments Of Notes Payable</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_RepaymentsOfNotesPayable_lbl" xml:lang="en-US">Repayment of notes payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfNotesPayable" xlink:to="us-gaap_RepaymentsOfNotesPayable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfRelatedPartyDebt" xlink:label="us-gaap_RepaymentsOfRelatedPartyDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfRelatedPartyDebt_lbl" xml:lang="en-US">Repayments Of Related Party Debt</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_RepaymentsOfRelatedPartyDebt_lbl" xml:lang="en-US">Repayment to related parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfRelatedPartyDebt" xlink:to="us-gaap_RepaymentsOfRelatedPartyDebt_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_ResearchAndDevelopmentDisclosureTextBlock" xlink:label="gure_ResearchAndDevelopmentDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_ResearchAndDevelopmentDisclosureTextBlock_lbl" xml:lang="en-US">Research And Development Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_ResearchAndDevelopmentDisclosureTextBlock_lbl" xml:lang="en-US">Research And Development Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_ResearchAndDevelopmentDisclosureTextBlock_lbl" xml:lang="en-US">RESEARCH AND DEVELOPMENT EXPENSES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_ResearchAndDevelopmentDisclosureTextBlock" xlink:to="gure_ResearchAndDevelopmentDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ResearchAndDevelopmentExpense" xlink:label="us-gaap_ResearchAndDevelopmentExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ResearchAndDevelopmentExpense_lbl" xml:lang="en-US">Research And Development Expense</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_ResearchAndDevelopmentExpense_lbl" xml:lang="en-US">Research and development cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchAndDevelopmentExpense" xlink:to="us-gaap_ResearchAndDevelopmentExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAppropriated" xlink:label="us-gaap_RetainedEarningsAppropriated"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAppropriated_lbl" xml:lang="en-US">Retained Earnings Appropriated</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsAppropriated_lbl" xml:lang="en-US">Retained earnings appropriated</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAppropriated" xlink:to="us-gaap_RetainedEarningsAppropriated_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAppropriatedMember" xlink:label="us-gaap_RetainedEarningsAppropriatedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAppropriatedMember_lbl" xml:lang="en-US">Retained Earnings Appropriated [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsAppropriatedMember_lbl" xml:lang="en-US">Statutory common reserve</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAppropriatedMember" xlink:to="us-gaap_RetainedEarningsAppropriatedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_RetainedEarningsRestrictionsTextBlock" xlink:label="gure_RetainedEarningsRestrictionsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_RetainedEarningsRestrictionsTextBlock_lbl" xml:lang="en-US">Retained Earnings Restrictions [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_RetainedEarningsRestrictionsTextBlock_lbl" xml:lang="en-US">Retained Earnings Restrictions [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_RetainedEarningsRestrictionsTextBlock_lbl" xml:lang="en-US">RETAINED EARNINGS - APPROPRIATED</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_RetainedEarningsRestrictionsTextBlock" xlink:to="gure_RetainedEarningsRestrictionsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsUnappropriated" xlink:label="us-gaap_RetainedEarningsUnappropriated"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsUnappropriated_lbl" xml:lang="en-US">Retained Earnings Unappropriated</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsUnappropriated_lbl" xml:lang="en-US">Retained earnings unappropriated</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsUnappropriated" xlink:to="us-gaap_RetainedEarningsUnappropriated_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsUnappropriatedMember" xlink:label="us-gaap_RetainedEarningsUnappropriatedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsUnappropriatedMember_lbl" xml:lang="en-US">Retained Earnings Unappropriated [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsUnappropriatedMember_lbl" xml:lang="en-US">Retained earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsUnappropriatedMember" xlink:to="us-gaap_RetainedEarningsUnappropriatedMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetentionPayable" xlink:label="us-gaap_RetentionPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetentionPayable_lbl" xml:lang="en-US">Retention Payable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetentionPayable_lbl" xml:lang="en-US">Retention payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetentionPayable" xlink:to="us-gaap_RetentionPayable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US">Revenues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US">Net revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US">Revenues [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US">NET REVENUE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_ReverseStockSplitDisclosureTextBlock" xlink:label="gure_ReverseStockSplitDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_ReverseStockSplitDisclosureTextBlock_lbl" xml:lang="en-US">Reverse Stock Split Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_ReverseStockSplitDisclosureTextBlock_lbl" xml:lang="en-US">Reverse Stock Split Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_ReverseStockSplitDisclosureTextBlock_lbl" xml:lang="en-US">REVERSE STOCK SPLIT</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_ReverseStockSplitDisclosureTextBlock" xlink:to="gure_ReverseStockSplitDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScenarioUnspecifiedDomain_lbl" xml:lang="en-US">Scenario Unspecified [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScenarioUnspecifiedDomain_lbl" xml:lang="en-US">Scenario, Unspecified [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_ScenarioUnspecifiedDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xml:lang="en-US">Segment Reporting Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xml:lang="en-US">BUSINESS SEGMENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingDisclosureTextBlock" xlink:to="us-gaap_SegmentReportingDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_SellingMarketingAndOtherOperatingExpenses" xlink:label="gure_SellingMarketingAndOtherOperatingExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_SellingMarketingAndOtherOperatingExpenses_lbl" xml:lang="en-US">Selling, Marketing and Other Operating Expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_SellingMarketingAndOtherOperatingExpenses_lbl" xml:lang="en-US">Selling Marketing And Other Operating Expenses</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="gure_SellingMarketingAndOtherOperatingExpenses_lbl" xml:lang="en-US">Sales, marketing and other operating expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_SellingMarketingAndOtherOperatingExpenses" xlink:to="gure_SellingMarketingAndOtherOperatingExpenses_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share Based Compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Stock-based compensation expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock" xlink:label="us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock_lbl" xml:lang="en-US">Significant Purchase And Supply Commitment Excluding Longterm Commitment [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock_lbl" xml:lang="en-US">MAJOR SUPPLIERS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock" xlink:to="us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US">Statement Equity Components [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US">Statement, Equity Components [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US">Statement [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US">Statement [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Statement Of Cash Flows [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Statement of Cash Flows [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US">Statement Of Financial Position [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US">Statement of Financial Position [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US">Statement Of Stockholders Equity [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementScenarioAxis_lbl" xml:lang="en-US">Statement Scenario [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementScenarioAxis_lbl" xml:lang="en-US">Statement, Scenario [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_StatementScenarioAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Stockholders Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">ENDING BALANCE</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">BEGINNING BALANCE</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Total Stockholders' Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Stockholders Equity [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Stockholders' Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US">Stockholders Equity Note Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US">COMMON STOCK</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssued1" xlink:label="us-gaap_StockIssued1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssued1_lbl" xml:lang="en-US">Stock Issued 1</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssued1_lbl" xml:lang="en-US">Issuance of common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssued1" xlink:to="us-gaap_StockIssued1_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xml:lang="en-US">Stock Issued During Period Shares Acquisitions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xml:lang="en-US">Common stock issued for acquiring assets (in shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US">Stock Issued During Period Shares New Issues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US">Common stock issued (in shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US">Stock Issued During Period Shares Stock Options Exercised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US">Common stock issued for exercising stock options (in shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_StockIssuedDuringPeriodSharesStockWarrantsExercised" xlink:label="gure_StockIssuedDuringPeriodSharesStockWarrantsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_StockIssuedDuringPeriodSharesStockWarrantsExercised_lbl" xml:lang="en-US">Number of shares issued during the period as a result of the exercise of warrants.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_StockIssuedDuringPeriodSharesStockWarrantsExercised_lbl" xml:lang="en-US">Stock Issued During Period Shares Stock Warrants Exercised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_StockIssuedDuringPeriodSharesStockWarrantsExercised_lbl" xml:lang="en-US">Common stock issued for exercising warrants (in shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_StockIssuedDuringPeriodSharesStockWarrantsExercised" xlink:to="gure_StockIssuedDuringPeriodSharesStockWarrantsExercised_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xml:lang="en-US">Stock Issued During Period Value Acquisitions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xml:lang="en-US">Common stock issued for acquiring assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US">Stock Issued During Period Value New Issues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US">Common stock issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" xml:lang="en-US">Stock Issued During Period Value Stock Options Exercised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" xml:lang="en-US">Common stock issued for exercising stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_StockIssuedDuringPeriodValueStockWarrantsExercised" xlink:label="gure_StockIssuedDuringPeriodValueStockWarrantsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_StockIssuedDuringPeriodValueStockWarrantsExercised_lbl" xml:lang="en-US">Value stock issued during the period as a result of the exercise of warrants.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_StockIssuedDuringPeriodValueStockWarrantsExercised_lbl" xml:lang="en-US">Stock Issued During Period Value Stock Warrants Exercised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_StockIssuedDuringPeriodValueStockWarrantsExercised_lbl" xml:lang="en-US">Common stock issued for exercising warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_StockIssuedDuringPeriodValueStockWarrantsExercised" xlink:to="gure_StockIssuedDuringPeriodValueStockWarrantsExercised_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockOptionMember" xlink:label="us-gaap_StockOptionMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockOptionMember_lbl" xml:lang="en-US">Stock Option [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockOptionMember_lbl" xml:lang="en-US">Stock Option</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockOptionMember" xlink:to="us-gaap_StockOptionMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US">Subsequent Events [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US">SUBSEQUENT EVENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalCashFlowElementsAbstract" xlink:label="us-gaap_SupplementalCashFlowElementsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowElementsAbstract_lbl" xml:lang="en-US">Supplemental Cash Flow Elements [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SupplementalCashFlowElementsAbstract_lbl" xml:lang="en-US">SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowElementsAbstract" xlink:to="us-gaap_SupplementalCashFlowElementsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Cash paid during the year for:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_TaxDisclosureTextBlock" xlink:label="gure_TaxDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_TaxDisclosureTextBlock_lbl" xml:lang="en-US">Tax Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_TaxDisclosureTextBlock_lbl" xml:lang="en-US">Tax Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="gure_TaxDisclosureTextBlock_lbl" xml:lang="en-US">TAXES PAYABLE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_TaxDisclosureTextBlock" xlink:to="gure_TaxDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TaxesPayableCurrent" xlink:label="us-gaap_TaxesPayableCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TaxesPayableCurrent_lbl" xml:lang="en-US">Taxes Payable Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TaxesPayableCurrent_lbl" xml:lang="en-US">Taxes payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TaxesPayableCurrent" xlink:to="us-gaap_TaxesPayableCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_TransferToRetainedEarningsAppropriatedForLegalReserve" xlink:label="gure_TransferToRetainedEarningsAppropriatedForLegalReserve"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="gure_TransferToRetainedEarningsAppropriatedForLegalReserve_lbl" xml:lang="en-US">Transfer to retained earnings appropriated for legal reserve</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="gure_TransferToRetainedEarningsAppropriatedForLegalReserve_lbl" xml:lang="en-US">Transfer To Retained Earnings Appropriated For Legal Reserve</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="gure_TransferToRetainedEarningsAppropriatedForLegalReserve_lbl" xml:lang="en-US">Transfer to statutory common reserve fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="gure_TransferToRetainedEarningsAppropriatedForLegalReserve" xlink:to="gure_TransferToRetainedEarningsAppropriatedForLegalReserve_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="us-gaap_TreasuryStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockMember_lbl" xml:lang="en-US">Treasury Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockMember_lbl" xml:lang="en-US">Treasury stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockMember" xlink:to="us-gaap_TreasuryStockMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="us-gaap_TreasuryStockShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockShares_lbl" xml:lang="en-US">Treasury Stock Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockShares_lbl" xml:lang="en-US">Treasury stock, shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockShares" xlink:to="us-gaap_TreasuryStockShares_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockSharesAcquired" xlink:label="us-gaap_TreasuryStockSharesAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockSharesAcquired_lbl" xml:lang="en-US">Treasury Stock Shares Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockSharesAcquired_lbl" xml:lang="en-US">Common stock repurchased (in shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockSharesAcquired" xlink:to="us-gaap_TreasuryStockSharesAcquired_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockTextBlock" xlink:label="us-gaap_TreasuryStockTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockTextBlock_lbl" xml:lang="en-US">Treasury Stock [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockTextBlock_lbl" xml:lang="en-US">TREASURY STOCK</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockTextBlock" xlink:to="us-gaap_TreasuryStockTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="us-gaap_TreasuryStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US">Treasury Stock Value</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US">Treasury stock; 184,599 shares as of December 31, 2011 at cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockValue" xlink:to="us-gaap_TreasuryStockValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:label="us-gaap_TreasuryStockValueAcquiredCostMethod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockValueAcquiredCostMethod_lbl" xml:lang="en-US">Treasury Stock Value Acquired Cost Method</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_TreasuryStockValueAcquiredCostMethod_lbl" xml:lang="en-US">Common stock repurchased</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:to="us-gaap_TreasuryStockValueAcquiredCostMethod_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WarrantMember" xlink:label="us-gaap_WarrantMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WarrantMember_lbl" xml:lang="en-US">Warrant [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WarrantMember_lbl" xml:lang="en-US">Warrant</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantMember" xlink:to="us-gaap_WarrantMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Weighted Average Number Of Diluted Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">DILUTED</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Weighted Average Number Of Shares Outstanding Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">BASIC</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract_lbl" xml:lang="en-US">Weighted Average Number Of Shares Outstanding Diluted Disclosure Items [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract_lbl" xml:lang="en-US">WEIGHTED AVERAGE NUMBER OF SHARES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract_lbl"/>
  </labelLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>12
<FILENAME>gure-20111231_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Presentation Linkbase, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version: 6.13.8 -->
<!-- Round: c614353c-260a-4f9b-af26-37e450e6479b -->
<!-- Creation date: 2012-03-12T15:41:36Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#DocumentDocumentandEntityInformation" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/DocumentDocumentandEntityInformation"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_StatementOfFinancialPositionClassified" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassified"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_StatementOfFinancialPositionClassifiedParen" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_StatementOfIncomeAlternative" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfIncomeAlternative"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_ci-StatementOfShareholdersEquityAndOtherComprehensiveIncome" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfShareholdersEquityAndOtherComprehensiveIncome"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_StatementOfCashFlowsIndirect" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfCashFlowsIndirect"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsLeasesOfLesseeDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLeasesOfLesseeDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsInventoryDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsDisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsCapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsTaxDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTaxDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsDebtAndCapitalLeasesDisclosuresTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDebtAndCapitalLeasesDisclosuresTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsRetainedEarningsRestrictionsTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRetainedEarningsRestrictionsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsTreasuryStockTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTreasuryStockTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsIncomeTaxDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsSegmentReportingDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsSignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsConcentrationRiskDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsConcentrationRiskDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsFairValueDisclosuresTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsFairValueDisclosuresTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsResearchAndDevelopmentDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsResearchAndDevelopmentDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsReverseStockSplitDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsReverseStockSplitDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsCommitmentsDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCommitmentsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsLegalMattersAndContingenciesTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLegalMattersAndContingenciesTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsSubsequentEventsTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSubsequentEventsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="gure-20111231.xsd#Role_NotesToFinancialStatementsCondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" roleURI="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock"/>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/DocumentDocumentandEntityInformation">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_DocumentDocumentandEntityInformationAbstract" xlink:label="gure_DocumentDocumentandEntityInformationAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntitiesTable" xlink:label="dei_EntitiesTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_DocumentDocumentandEntityInformationAbstract" xlink:to="dei_EntitiesTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentType" order="1.0100" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_AmendmentFlag" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentPeriodEndDate" order="1.0300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentFiscalYearFocus" order="1.0400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentFiscalPeriodFocus" order="1.0500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_TradingSymbol" order="1.0600" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityRegistrantName" order="1.0700" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCentralIndexKey" order="1.0800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_CurrentFiscalYearEndDate" order="1.0900" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityWellKnownSeasonedIssuer" order="1.1000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCurrentReportingStatus" order="1.1100" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityVoluntaryFilers" order="1.1200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityFilerCategory" order="1.1300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCommonStockSharesOutstanding" order="1.1400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityPublicFloat" order="1.1500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_EntitiesTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_EntitiesTable" xlink:to="dei_DocumentInformationLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassified">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="us-gaap_AssetsCurrentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsNoncurrent" xlink:label="us-gaap_AssetsNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsNoncurrentAbstract" xlink:label="us-gaap_AssetsNoncurrentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligationsCurrent" xlink:label="us-gaap_CapitalLeaseObligationsCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligationsNoncurrent" xlink:label="us-gaap_CapitalLeaseObligationsNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet" xlink:label="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Cash" xlink:label="us-gaap_Cash"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesNoncurrentAbstract" xlink:label="us-gaap_LiabilitiesNoncurrentAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherPrepaidExpenseCurrent" xlink:label="us-gaap_OtherPrepaidExpenseCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseOtherNoncurrent" xlink:label="us-gaap_PrepaidExpenseOtherNoncurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAppropriated" xlink:label="us-gaap_RetainedEarningsAppropriated"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsUnappropriated" xlink:label="us-gaap_RetainedEarningsUnappropriated"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetentionPayable" xlink:label="us-gaap_RetentionPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TaxesPayableCurrent" xlink:label="us-gaap_TaxesPayableCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="us-gaap_TreasuryStockValue"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_Cash" order="1.3000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AccountsReceivableNetCurrent" order="1.3100" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_InventoryNet" order="1.3200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" order="1.3300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_OtherPrepaidExpenseCurrent" order="1.3400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_DeferredTaxAssetsNetCurrent" order="1.3500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrent" order="1.3600" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentNet" order="1.0700" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet" order="1.0800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_PrepaidExpenseOtherNoncurrent" order="1.0900" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_DeferredTaxAssetsNetNoncurrent" order="1.1000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_AssetsNoncurrent" order="1.1100" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesNoncurrentAbstract" order="1.0300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_Liabilities" order="1.0400" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract" order="1.0500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity" order="1.0600" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" order="1.1200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_RetentionPayable" order="1.1300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_CapitalLeaseObligationsCurrent" order="1.1400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_TaxesPayableCurrent" order="1.1500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrent" order="1.1600" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_LiabilitiesNoncurrentAbstract" xlink:to="us-gaap_CapitalLeaseObligationsNoncurrent" order="1.2100" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_AssetsCurrentAbstract" order="1.1700" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_AssetsNoncurrentAbstract" order="1.1800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_Assets" order="1.1900" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract" order="1.2000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_PreferredStockValue" order="1.2200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_CommonStockValue" order="1.2300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_TreasuryStockValue" order="1.2400" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_AdditionalPaidInCapital" order="1.2500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_RetainedEarningsUnappropriated" order="1.2600" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_RetainedEarningsAppropriated" order="1.2700" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" order="1.2800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquity" order="1.2900" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="us-gaap_TreasuryStockShares"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_PreferredStockSharesAuthorized" order="1.0300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_PreferredStockSharesOutstanding" order="1.0400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare" order="1.0500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockSharesAuthorized" order="1.0600" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockSharesIssued" order="1.0700" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockSharesOutstanding" order="1.0800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_TreasuryStockShares" order="1.0900" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfIncomeAlternative">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:label="us-gaap_ComprehensiveIncomeNetOfTaxAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostOfRevenue" xlink:label="us-gaap_CostOfRevenue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="us-gaap_CostsAndExpenses"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="us-gaap_CostsAndExpensesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="us-gaap_EarningsPerShareAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="us-gaap_EarningsPerShareBasic"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="us-gaap_EarningsPerShareDiluted"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ExplorationExpense" xlink:label="us-gaap_ExplorationExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="us-gaap_GeneralAndAdministrativeExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpense" xlink:label="us-gaap_InterestExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="us-gaap_InvestmentIncomeInterest"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NonoperatingIncomeExpenseAbstract" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherOperatingIncome" xlink:label="us-gaap_OtherOperatingIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ResearchAndDevelopmentExpense" xlink:label="us-gaap_ResearchAndDevelopmentExpense"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="us-gaap_RevenuesAbstract"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_SellingMarketingAndOtherOperatingExpenses" xlink:label="gure_SellingMarketingAndOtherOperatingExpenses"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:to="us-gaap_NetIncomeLoss" order="1.0500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:to="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" order="1.0600" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax" order="1.0700" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_CostOfRevenue" order="1.1800" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="gure_SellingMarketingAndOtherOperatingExpenses" order="1.1900" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_ResearchAndDevelopmentExpense" order="1.2000" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_ExplorationExpense" order="1.2100" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_AssetImpairmentCharges" order="1.2200" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_GeneralAndAdministrativeExpense" order="1.2300" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_OtherOperatingIncome" order="1.2400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_CostsAndExpenses" order="1.2500" preferredLabel="http://xbrl.us/us-gaap/role/label/negatedTotal" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareBasic" order="1.0300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareDiluted" order="1.0400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_InterestExpense" order="1.2700" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_InvestmentIncomeInterest" order="1.2800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_NonoperatingIncomeExpense" order="1.2900" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract" xlink:to="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" order="1.2600" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_Revenues" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_RevenuesAbstract" order="1.0800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CostsAndExpensesAbstract" order="1.0900" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_OperatingIncomeLoss" order="1.1000" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_NonoperatingIncomeExpenseAbstract" order="1.1100" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" order="1.1200" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_IncomeTaxExpenseBenefit" order="1.1300" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_NetIncomeLoss" order="1.1400" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_ComprehensiveIncomeNetOfTaxAbstract" order="1.1500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_EarningsPerShareAbstract" order="1.1600" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" order="1.1700" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" order="1.3000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" order="1.3100" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfShareholdersEquityAndOtherComprehensiveIncome">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedTranslationAdjustmentMember" xlink:label="us-gaap_AccumulatedTranslationAdjustmentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="us-gaap_AdditionalPaidInCapitalMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_AdjustmentToCommonStockIssuedShares" xlink:label="gure_AdjustmentToCommonStockIssuedShares"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued_2"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding_2"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesPayableMember" xlink:label="gure_NotesPayableMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrivatePlacementMember" xlink:label="us-gaap_PrivatePlacementMember"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_Reclassification" xlink:label="gure_Reclassification"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAppropriatedMember" xlink:label="us-gaap_RetainedEarningsAppropriatedMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsUnappropriatedMember" xlink:label="us-gaap_RetainedEarningsUnappropriatedMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity_2"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_StockIssuedDuringPeriodSharesStockWarrantsExercised" xlink:label="gure_StockIssuedDuringPeriodSharesStockWarrantsExercised"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_StockIssuedDuringPeriodValueStockWarrantsExercised" xlink:label="gure_StockIssuedDuringPeriodValueStockWarrantsExercised"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_TransferToRetainedEarningsAppropriatedForLegalReserve" xlink:label="gure_TransferToRetainedEarningsAppropriatedForLegalReserve"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="us-gaap_TreasuryStockMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockSharesAcquired" xlink:label="us-gaap_TreasuryStockSharesAcquired"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:label="us-gaap_TreasuryStockValueAcquiredCostMethod"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_CommonStockMember" order="1.2700" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_TreasuryStockMember" order="1.2800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_AdditionalPaidInCapitalMember" order="1.2900" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_RetainedEarningsAppropriatedMember" order="1.3000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_RetainedEarningsUnappropriatedMember" order="1.3100" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_AccumulatedTranslationAdjustmentMember" order="1.3200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="gure_NotesPayableMember" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_PrivatePlacementMember" order="1.0300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_EquityComponentDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockSharesOutstanding" order="1.0400" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockSharesIssued" order="1.0500" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockholdersEquity" order="1.0600" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" order="1.0700" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_TreasuryStockSharesAcquired" order="1.0800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_TreasuryStockValueAcquiredCostMethod" order="1.0900" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" order="1.1000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" order="1.1100" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_StockIssuedDuringPeriodSharesStockWarrantsExercised" order="1.1200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_StockIssuedDuringPeriodValueStockWarrantsExercised" order="1.1300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockIssuedDuringPeriodSharesAcquisitions" order="1.1400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockIssuedDuringPeriodValueAcquisitions" order="1.1500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued" order="1.1600" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" order="1.1700" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_NetIncomeLoss" order="1.1800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_AdjustmentToCommonStockIssuedShares" order="1.1900" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_TransferToRetainedEarningsAppropriatedForLegalReserve" order="1.2000" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockSharesIssued_2" order="1.2100" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_Reclassification" order="1.2200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommonStockSharesOutstanding_2" order="1.2300" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockholdersEquity_2" order="1.2400" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues" order="1.0710" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues" order="1.0720" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_ScenarioUnspecifiedDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementEquityComponentsAxis" order="2.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementScenarioAxis" order="10.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfCashFlowsIndirect">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="us-gaap_AmortizationOfFinancingCosts"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfLeasedAsset" xlink:label="us-gaap_AmortizationOfLeasedAsset"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetImpairmentCharges" xlink:label="us-gaap_AssetImpairmentCharges"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligationsIncurred" xlink:label="us-gaap_CapitalLeaseObligationsIncurred"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Cash" xlink:label="us-gaap_Cash"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Cash" xlink:label="us-gaap_Cash_2"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashPeriodIncreaseDecrease" xlink:label="us-gaap_CashPeriodIncreaseDecrease"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnDispositionOfProperty" xlink:label="us-gaap_GainLossOnDispositionOfProperty"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxesPaid" xlink:label="us-gaap_IncomeTaxesPaid"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedTaxesPayable" xlink:label="us-gaap_IncreaseDecreaseInAccruedTaxesPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="us-gaap_IncreaseDecreaseInInventories"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherReceivables" xlink:label="us-gaap_IncreaseDecreaseInOtherReceivables"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInRetainagePayable" xlink:label="us-gaap_IncreaseDecreaseInRetainagePayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestPaid" xlink:label="us-gaap_InterestPaid"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_InventoryWriteDownAndRecoveries" xlink:label="gure_InventoryWriteDownAndRecoveries"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesPayableMember" xlink:label="gure_NotesPayableMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNoncashIncome" xlink:label="us-gaap_OtherNoncashIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireOtherProductiveAssets" xlink:label="us-gaap_PaymentsToAcquireOtherProductiveAssets"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPrivatePlacement" xlink:label="us-gaap_ProceedsFromIssuanceOfPrivatePlacement"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" xlink:label="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfDebt" xlink:label="us-gaap_ProceedsFromRepaymentsOfDebt"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt" xlink:label="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="us-gaap_ProceedsFromStockOptionsExercised"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_PropertyPlantAndEquipmentMember" xlink:label="gure_PropertyPlantAndEquipmentMember"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_RepaymentsOfCapitalLeaseObligations" xlink:label="gure_RepaymentsOfCapitalLeaseObligations"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="us-gaap_RepaymentsOfNotesPayable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfRelatedPartyDebt" xlink:label="us-gaap_RepaymentsOfRelatedPartyDebt"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssued1" xlink:label="us-gaap_StockIssued1"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockOptionMember" xlink:label="us-gaap_StockOptionMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalCashFlowElementsAbstract" xlink:label="us-gaap_SupplementalCashFlowElementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WarrantMember" xlink:label="us-gaap_WarrantMember"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AmortizationOfFinancingCosts" order="1.3400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AmortizationOfLeasedAsset" order="1.3500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_DepreciationAndAmortization" order="1.3600" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="gure_InventoryWriteDownAndRecoveries" order="1.3700" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AssetImpairmentCharges" order="1.3800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_OtherNoncashIncome" order="1.3900" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" order="1.4000" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_GainLossOnDispositionOfProperty" order="1.4100" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefit" order="1.4200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_ShareBasedCompensation" order="1.4300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" order="1.4400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="us-gaap_CapitalLeaseObligationsIncurred" order="1.5500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="us-gaap_StockIssued1" order="1.5600" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable" order="1.0900" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInInventories" order="1.1000" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" order="1.1100" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOtherReceivables" order="1.1200" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" order="1.1300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInRetainagePayable" order="1.1400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" order="1.1500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInAccruedTaxesPayable" order="1.1600" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_RepaymentsOfNotesPayable" order="1.1700" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_ProceedsFromPaymentsForOtherFinancingActivities" order="1.1800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock" order="1.1900" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="gure_RepaymentsOfCapitalLeaseObligations" order="1.2000" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_ProceedsFromIssuanceOfPrivatePlacement" order="1.2100" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_ProceedsFromStockOptionsExercised" order="1.2200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_ProceedsFromRepaymentsOfDebt" order="1.2300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt" order="1.2400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_RepaymentsOfRelatedPartyDebt" order="1.2500" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities" order="1.2600" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_PaymentsToAcquireOtherProductiveAssets" order="1.0400" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_PaymentsForProceedsFromOtherInvestingActivities" order="1.0500" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" order="1.0600" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" order="1.0700" preferredLabel="http://xbrl.us/us-gaap/role/label/negated" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities" order="1.0800" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetIncomeLoss" order="1.3100" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" order="1.3200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities" order="1.3300" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_StockOptionMember" order="1.2700" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_WarrantMember" order="1.2800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="gure_NotesPayableMember" order="1.2900" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="gure_PropertyPlantAndEquipmentMember" order="1.3000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" order="1.4700" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" order="1.4800" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" order="1.4900" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" order="1.5000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CashPeriodIncreaseDecrease" order="1.5100" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_Cash" order="1.5200" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_Cash_2" order="1.5300" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_SupplementalCashFlowElementsAbstract" order="1.5400" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_ScenarioUnspecifiedDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementScenarioAxis" order="10.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_SupplementalCashFlowElementsAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract" order="1.4500" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_SupplementalCashFlowElementsAbstract" xlink:to="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" order="1.4600" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_IncomeTaxesPaid" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_InterestPaid" order="1.0300" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLeasesOfLesseeDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeasesOfLesseeDisclosureTextBlock" xlink:label="us-gaap_LeasesOfLesseeDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_LeasesOfLesseeDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InventoryDisclosureTextBlock" xlink:label="us-gaap_InventoryDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_InventoryDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock">
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock" xlink:label="gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock" xlink:label="us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTaxDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_TaxDisclosureTextBlock" xlink:label="gure_TaxDisclosureTextBlock"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_TaxDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDebtAndCapitalLeasesDisclosuresTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock" xlink:label="us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRetainedEarningsRestrictionsTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_RetainedEarningsRestrictionsTextBlock" xlink:label="gure_RetainedEarningsRestrictionsTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_RetainedEarningsRestrictionsTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTreasuryStockTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockTextBlock" xlink:label="us-gaap_TreasuryStockTextBlock"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_TreasuryStockTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_SegmentReportingDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock" xlink:label="us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsConcentrationRiskDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_ConcentrationRiskDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsFairValueDisclosuresTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="us-gaap_FairValueDisclosuresTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_FairValueDisclosuresTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsResearchAndDevelopmentDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_ResearchAndDevelopmentDisclosureTextBlock" xlink:label="gure_ResearchAndDevelopmentDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_ResearchAndDevelopmentDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsReverseStockSplitDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_ReverseStockSplitDisclosureTextBlock" xlink:label="gure_ReverseStockSplitDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="gure_ReverseStockSplitDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCommitmentsDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommitmentsDisclosureTextBlock" xlink:label="us-gaap_CommitmentsDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CommitmentsDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLegalMattersAndContingenciesTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LegalMattersAndContingenciesTextBlock" xlink:label="us-gaap_LegalMattersAndContingenciesTextBlock"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_LegalMattersAndContingenciesTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSubsequentEventsTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_SubsequentEventsTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
  <presentationLink xlink:type="extended" xlink:role="http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock">
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" xlink:label="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis"/>
    <loc xlink:type="locator" xlink:href="gure-20111231.xsd#gure_NotesToFinancialStatementsAbstract" xlink:label="gure_NotesToFinancialStatementsAbstract"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="dei_LegalEntityAxis" xlink:to="dei_EntityDomain" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="gure_NotesToFinancialStatementsAbstract" xlink:to="us-gaap_StatementTable" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock" order="1.0200" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="dei_LegalEntityAxis" order="1.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
    <presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementLineItems" order="100.0000" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" priority="2" use="optional"/>
  </presentationLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
<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"`"8`M4#`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`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HI*6@`HHHH`***2@!:**2@!:**3F@!:***`"BBB@`HHHH`
M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB
MB@`HHHH`****`"BBB@`HHHH`**2B@!:***`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`:>G%5KJ\BLH#/<.$C4X)/UP*LUS_C`9T"?/K'_`.AB
MDW97+HPYZBB^IHV&K6NHEQ;2*Y0`G'OG_"LW7?&.E>'[N.VU!Y4>1=Z[4R",
MD?S%9'@?!NK_`.D?_LW^-<]\9/EN=%(X)2?)_&/_`.O54??M<O&4O85'"/0Z
M<_$[PWM)$TY^D)-6]-\?>']3NA;179CE/19EVY_&N6\(>!="UGPO9:A>V\AG
MF#$D2$#AB/Z5S/Q!\-:7X;OK%;!G59D=I(F;=Y9!7#9ZCJWY5LH0;LCDYWN>
MWSW`@MY9F!81J6*J,G@9X]:X\_%/PZ`&!N\'_IA_]>M?P;<75WX0TV:]W>>T
M/S;^IP3@_EBO%_!NEVNK^*[*PNT+P2B0,`<'A&(_6E""=[]!SEM8]3B^*/AR
M4XW72^[0D"NFTO6M/UF#SK"ZCG3_`&3R/J*Y>[^%WA^XA*PI-#(!PXDS@^M>
M;WMOJW@#Q&##*<C#QN/N3)D<$?B,TN6$OA$Y26K/?\\5EZOKVG:'");^Y6(,
M<*O5F/H!6=<^++:'P4/$*?,C0*Z)W+G@*??=Q^%>5:!IE_X\\2R/>W+$1@/<
M2]D'0HH/3)Z>P-*%.ZO(<I:Z'?2?%?0DE*B"\9!QN$8Y_6MS1?&6BZZ_EVES
MME_YY2C8W_UZJ0_#OPU#"L1T]9#CEV)R?RKS_P`<^#QX:,&JZ9+(L#.$.?O0
MMC(.?2FE!Z(&Y+5GM@//I[45Q?P\\2R:_I,L-TVZ\M'".?[RGE3^A_(UVE9R
M3B[,M.ZNA:***0PHHHH`3-%+BB@`HHHH`****`"BBB@`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`AF>2-"T:>80>5SCBJT&H+)%
M&\R^1Y@!4%@>M6G(`;<P"X[^]9L5B!Y3?NI%$:1N&YQCN,=.*`+\$_VB(N/E
M^9E_[Y8@_P`JDCE65%=#E6&0?:H+2![>%XRP8&1W!QV9B?ZU,D9$/EN1TQQQ
M0!5N[\6T:LHW[@Q!R`./?^E"7_G3O$BJ,+W;!R0".,>_Z5#<Z;&D$4<8BV*2
M"LI..>X]Z46SBYM\RQDPC*D_>=MNWYJ`+-M=-.TJ/&8WC(!7.>HR*B%Y,99(
MO(`D4*P7S!T)(]/;-&FQRQ1$2O%(Q/,B'.3WS5<07/DW7^D0;WR#*#]P$]/P
M%`$\>IATMB8F5II#'MZ[2.O-$5]YU\]N$(V[AGW&.H[=>#0D#/!!N:-?*;<#
M'D@#MUJ&"TV:F\OFQ-RS?*?WC9_A/L,#\J`'R:B4U$6BQ_,W`W'^+:6Z?W?E
MZ^IH;4W2-O-@,<BR!"I8$#(R"2.E1/I^[5S<":-65]X(^^!LV[?IGG%1+:2?
M9%+SV[LLN_<3\DAQR&_I0!:74V=[=?)9?-16.2.">P]<'K[<UICD"L9=,\MX
M%:=&90F,CYAM.?D^O0^U;(Z"@!:***`"BBB@`HHHH`****`"JEQ=_9W7=&VT
MLJEAV+'`JW5&ZAG>YA>+RV1,Y5\]21S^6:`&_P!H,WGA8QNBR,%NISBGP7+R
M7+Q,!CG:1[!?_BJ1;9C>^<XCVX(&T?>SZ_K5E40`%1T'4#K0!4?4"CW'[HE(
M,ECGL!FK!G02K&6`D8$A?7V_E562R66&^0%2UP'4<\`%0.?RJ)]/GED8O)'L
M=UD<@$$%5`P/Q%`%TWMN59A*NT8&?J<4KW*H\`ZK*2`W;&,UG1Z7*JQJ[(5B
M$:@A>7"MG)]\5>OK,7MH8-Q3)!!'&,4`0IJL4T44D8)65"RD^H8+S^)_2K!N
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MM[*22:4ED\EYDF''/RA>/_':`+"WMN\BQ"5?,8`A<\G(R*M#I66FG"._>;9$
MR%_,#$'<I`Q@5IY"KSP!0`M%-!R`1R#WHH`=110>E`"=ZY_Q=SX>G^J?^ABN
M@K`\7?\`(O3_`%C_`/0Q4S^$WPW\:/JC$\"_\?-]_NI_[-7/_&4#SM#)./DG
MS_Y#KH/`N1=7V.ZQ_P#LU8OQ>AEN+W0888WEF83A(T&2>8__`*U7A7\)KFVN
M(G8R/#MEXYGT*UDT>XVZ>ZMY7[U5Q\YSP1]:Q-5T[6-*U**_\3V$MTA<!A))
ME7(Y/(XQGM[UZ?X5U#3_``YX9M-*U+4[&WO;8,TL3SKE-S%AW_VA6/\`$/Q9
MHE]X=ETRRO+>\FN'0CRV#!`K!B<YZG&/QKI4WS['F./NG6>%?$=AXATSS+)#
M#Y!\J2`]8^./PXKR3X<$GQ]IH_Z[?^BVKI_@[;3^7JUTP/D2>1&K]G=0Q;GZ
M.M<[X`MWMO$,.MW+);:;:%U>><[%W,K*`">O)I<JBY10.[L['O'TZUY7\8=F
MS2'_`(R9E&.Z_(?\/UKK[OQ[X9M(2YU>VD('W8G#&O)O$FM7OC?Q!`EI:OM`
M,=K`1R`2,LP]#@<UG2@T[LJH]+%V=Y3\'+3J$&IG=Z$9<_EN.?K6[\'/+,6K
MG_EL7AW<=%P^/_9OSKII/!\3>`1X>#`,L0*.V.)<[@3_`,"X^E>8>%-;N?!?
MB.>.^A?9)^ZN8L?.,-E7`[CD_@:NZE%I$NZ:T/?3TYYKD?B0(W\!ZF).0!&1
M_O>8N/UJ]!XS\/7%H+A=7LU0]5>4!A[%<YKSCX@^-(-:ACTO3G+6B2!I9L<2
MD=`H[C/-9TX/FN7)W5BS\']_]K:H"<KY*DGU.]L?H3^=>O5PGPT\-W&B:1)=
M7:>7<WFPF,_P(N<?B<UW>:55WG=#IIJ-AU%%%06%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`4
M=24O:%5QN9T`SG^\*J7DDEC$!$50J#(X5?E?G&/K6E/-'"FZ4_*6`_&H)+^V
MVD%@PW%<@9`(('/YB@"*WGF;4)(B<PJ6V,1C<<C(_#)%6H6_T4,DGF''#,,;
MC4#ZC:Q[CN+;"^[:,XV@$_TIR7UL]Q]G20%U?R\`=#C=^6*`,Z_DD>WA-P8X
MW^<@G[N1V/H:2-Q'J$!!W&<+YD3+\T:B(G.?J`/^!58_M:$:A/92AQAU16VD
MJ=R@@$]NM-.LP/<A2'^S>3([2^6P!PRJ-IQS][M0`:--!<+/+$^U788CZ;5Q
MP<'N:SYIX9DO7A(10T<6.>%60;G((YY;\A6]:7D-WO,8=61@'1U*L#CN*A&I
M6S(TH+;`0H?:2')XP#WYQ0!G0*SVEDP:3Y;Q@"A(5P6))_W?2K=L%CU:18I%
MD\PL\GR8*<C`S^-/;6+1(]VV7Y=Q*!/F7;@G([?>%6+2\BO'D$>Y2A!(*XR"
M.*`*,LUNVMB-R$=$W/U^9F&T+],#-1VL]K);W$P>)%D8;58<+QP2,=ZE35ED
M-Q&P99$>58V((!VY/7Z"K5C>Q7T(<;=VU2Y'*[B,X]\4`9J6TKI8,JG<T<0^
M8G*!#N)'U'%=".@HVC@XYI:`"BBB@`HHHH`****`"BBB@`JC>1EKFS?>XVR\
MJ._RM5ZJ$U]%!>^3,ZK\@=23U.2,4`-$3M?7B[WVO"@7V/S`X_2HK/S4T1PC
M.91YH0GDY#-C^0HM]6AFM[61V*M-'&Q*C*J6`(&?\]:5=7LVC,BNVP!67Y&&
M[<=HQQSECCB@"HMW;PZ>IM)`LAV"4MG*\\Y]ZC>_O6@N'ADRD,;O$VS_`%I4
M\?I5^748AI,]]$,K$&W;QMY4D'([8(IB:O"07P?*9G6'8N2ZK]YL>@/\Z`(9
M=0N8)WE)+Q"5X@BH>@C+AOTQ^-06NL3),BW,ZO&9MI<*1P48@'CCE?UK1&KV
MLDR(CLV\@!@C;=S+E1G'<$&GV6H6VH,X@W854<%E*A@22"/RH`REU6XDGLUD
ME"";8W*_*06(//8GM4?F7JZ6B^;(I\F"7)7!0!^1]<5OR65O+,LLD>YUQ@DG
ML<CCIUJUM!&",_6@#'U%7EMK!8AYY:91EN-PV$Y/Y"LJ"_NK:$IN:-XEW)"5
M)WR%V+(#Z*`%'UKK"BD8QQ2%$)!*C(Z'TH`YC^U[I;F[4,IB!X!0!H@)=I/7
MG"G=SZ5H6C2M9ZBT,_FON/DR`=3Y:XXZ=:V"BG)*CGK0$51A0`/;B@#FUNH(
M-*WZ>0)CY:SL2<ISU.>_)I);R_CMKAQ<*_DVSRJR)G<5+$#\ABND$:`DA0,]
M<=Z4(H&`H`]*`,-IKF.>\2.9C(UY$H^7(5&"9Q^9_*H+N_N([V2W\T/'M:/!
M&#D1%MW3U'ZUTFT9)QR:-HSG'-`%?3V#:?;E22/+7K]**LT4`%!Z444`-K`\
M7?\`(OS]>J=!G^,5T%9^K6*:AI\ENP+!L':&QD@YQG\*F2NK&E&7)4C)]#E/
M`YQ->D\#"+N!R/XN_KTK>US29-6MEC@OS92#(\]$#2`'J%)Z9KGY_#VN2!8X
M_(@A3`CCBDV@#&/3D_6HCX7UTY_?*"?^GAJB$G#8]*O1I8B;JNHE?H4C\);$
MG+ZS.W.?FC!.?J3GM5JS^%6A0R![J]N[KU0N$1OJ!_C2CPIKO>5?^_Y_PIP\
M*ZWT\V/\9C_A6GUBI;8Q^H8?_GZCM;6WLK&W2"U2*&)!A40``?A7):MX`MM9
MN1+<ZO<!$_U4$:JL<0SG`7U]SDU7_P"$1US_`)[Q?]_W_P`*0>#]9'2:#G_I
ML_\`\34*K46J0/!X>UO:HBC^%&C`_O-2OF7/164?^RUU.B>'=%\/H1I]NJ2-
MP\S'<[?4_P"%<U_PAFKD_?M?^_K?_$TO_"&:M_?M?^_C?_$TW6F^@E@L,O\`
MEZCOO-C_`+XK&UOPYHVOQJ+^!6D3[DR';(OT;_&N:_X0S5?[]K_WV?\`XFD_
MX0K5>\EKC_>;_"I522V17U3#O>JB"7X4:2\NY=4N@GHRHQQZ9Q_2MW0_!'A_
M0W6:&(SSJ.)9\,1]!@`?E62/!.I`\-:CZ%O\*#X)U`J098#WQN/^%6ZU1]!?
M4L+_`,_4=^KJ>%/X"I.O:N:\.Z'/I;SM,T>V3&S9DXKI>W6JUL<52$83M&5Q
MU%%%!`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`!1110!'/"L\+1/\`=88-4XM+MH@Z*#AXA&PSV`QG
MZ^]:%%`%%--@C)QG)A\H^X]?K5<:-#'\T$LD4WDF$2CDC)W$\]ZUJ0J"#[T`
M93:0)+XW!N9O+=TE:(`!6=0,,3C/8<=*B3P_;X"/+))$BE88V"D1`L&P#C/5
M5Z^E;=)@>@H`SX;!X3N-S*[F0-([`?.,8QTZ4Q=*1+<PBXF6)6#1J"N(R#D8
MX['UK3P*6@#+CTF-(Y`TCN[K(KR'&6WXR?R`_*IOL&#NCFD0D("1CD+TJ[BE
MQ0!GG38'`#%R/,>3!/=P0?T8BG6FG166?)R%(4%3TR!C-7L<YI,#CVH`4=**
M**`"BBB@`HHHH`****`"BBB@`JJUJK71GR<^7LQUQSFK5%`&-%HB0I#&EQ*(
MT6/<G'S-&`%;V^Z..E1W>B(VG"*,R%XH1''@C(P01UZ=!6Y@"C:/2@#+@TTM
MHKV-P2PD1@W/)R2>3W//)[T/I2K<F>WE>"3!`V@'KC/!&!G:OY>YK4P*-H]*
M`,J/1[>&(1(SB-71P."?D4*.3]!3-'TZ6Q,PE9RAPJ!R#P,],=!R>*V,"@`#
MH*`%HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*3M2T4`,Q]*/RIV*,4Q
M#?RHZ^E.Q1B@-1FT>E+CW-.P*,"D,3'N:,>YIV*,4`-Q[FDVCUI^*,4`,VCT
MI<<]Z7%&*8A"H/K1T/`HQ2T`O06BBBD,****`"BBB@`HHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*3<OJ/SJ
MO=?\>LGS$`<DCTZG]*YNUEMI=2@1))5E9AU)QTH`ZO=U]J7/'K7,W1DEEO$B
M,<C,^(U1222-V0>1Z5KVDF=-!W>7M!4DCE2#CI0!?H!_R*@\TK9B5<S?)N!`
MQNXK%U"]N'M+:=#)#^Z::0$X(`*Y..^,]/>@#H,\=:7)K%/FQ:G*)[AS%*K%
M2LI'E`#/3I5C3&:6U:0RNT<CDQ;FR0G0<^_7F@#2SW-%88EC2UO)C-*T".%C
M7S>7(]_=N/PJ=1<0C2XWG9FSY<O3YSY9.?P(H`U1GU_2C/Y5B:;<327TA>0O
M')YK)E\\*X&,=J8LK/K$H>=A`2T:[6P00`3D=@,&@#>HY'7FN:>:=[.'[/."
MDDS/&#(?]4%Z9ZYSS3;>_EFU"TD69C`5B1AGYMS(6&1TP?E-`'44444`%%%%
M`!1110`4444`%-)Q[4ZN=\1`EEC`=2\;LKHNX@CV_$4`;X=6&0P..#@T@="^
MP')]/IC_`!%<_IEQ_H,XD!6.*54Y`!8G'R_7E1^-9VFF=];CFQ,/WD@92?N<
MJN#[G"_G0!V.2>G?_/I2[QG!(!/8FN?N+&5]5A+V5J2R2.>3R<KS^IIU^L<5
MQ&'^600%1&C'&,'C]#0!NAU;D,,9'0T"120-PR>,9[US&GA[71I9'5L^5'*Z
MG(PH'`!)/93^=,LY'_X2%.'VM<RIR<@`;SZ_[/ZT`=66Y"\`GMFEW9`/;^=<
MWMN_[0MO-%X6)DSME(!&1CCMUJTHN%.BN\D@8MLD0\Y)B=LD_4"@#;SCOTII
M;!';GOWJA&LG]J7BF9R&B3;QPGWL_P!*R98[DZ5$!)([)=S[I".<!I`._N*`
M.EWC)&1N'4`T^N;TI+AM2::5U(8*?O<E2,@8[&NDH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@
M`HHHH`****`()I(XHGDEXC&2Q/Y5CR7]HFH(DEJ5F8+RN.#P/ZBM2^@-Q9SQ
M`9W1L`/?M^M9=UH[3:HESLR#("WS8XX/]!0`7EU96=V8WMRS@EV^;UW<UJ6W
ME+9JZ)LB(+[>O!YK(O\`1YKZ\N)BD7*@)DG)Q_\`KK6LUFCLHDD58Y53;@<C
M@=:`)XG22%'3[A7*]N*HW]U:PJC7"[U(++QV&./Q.*MB(M;"*1OFV[69>,G'
M)K*NM)DEMH8(W#>7$R*SYX8@8;WQM/YT`61+:R75RB0EY$!$N%Y/':I+&2!X
MY8X(C%Y;[70_PG&:BDLY6OOM,<<"E5;!`_UA([U-I]O/;VA28(93EF8$_,QZ
MT`51)91Q.K6C($*?(4XR3Q^M6$N[0K:*N1YI(BX/7!_H#54Z;=36\@G$+2R2
M[W`)PP'W1[8]JFATYTCL`S+NMIF<@=`I5P%'TW#\J`'V5Q:3W$WD1(K([*S#
M`)(.#Q]137>W^VRQ-;'S61BK8P9`,9Q_WT!^-$-H\=^9_*B1=C*`AY;)SD^_
M'ZTW[/=_VE<7+-"PVA(`2?E'!Y^K#]*`(Q<V*6<TOV8B.W?$B[?N84-G'T(I
MRW=A]O1%A`=2J;POW6(!5?R_*DALKE=,>VG\F1WR96WD;F/4_P#UJ!HZFYM)
MG?YH`ID<$CS&`P#CI0!L+]T?2EHHH`****`"BBB@`HHHH`*SM3:TBA,EXF]1
ME1\N<`C/_LM:-8VKQNY,B(Y,4;GY3]YBC*%Q_P`"SF@"T$LK:'<L:!7<-C;G
MYB!CCZ`?E444UD]P7$;H_F?>((!8U!%9R6MC)#(\I=,.)ARS$#`_&J^FP723
MQ?:_M."=Z$D'>W<GTX[4`7GU2P%TBF=#(`R@_BN:GE%JZ1W94297Y6'<$'^A
M/YUG_P!GWD%W;*EPA11)@F'.W)%/EMI;:WMV8F18%B3"`YR"0QQ[\4`6I([&
MWMU=XE57PN"N220<#]358-I$<L4\<*>:S,R;5YW`X/XTDLET8YYK*V>1WE4(
MDA`P<<MSZ54FL)GLE\NUE$Q238_F#<C$YW>F"<G%`%Z_UC3]/)>X?YH@,87G
MG_\`9JW97EOJ%N)X.5!P,CH>E8&M:5=3&[EC7SI9E10H'&,,,_S/XULZ'`UO
MIJQO'Y;!V)7TH`T=J[BV.3QFHGMX9$V,BE<DX]S4]%`$"VL"R!UB4,.A`Q4_
M:BB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`**2EH`****`"BBB@"I?W#VMI)/&F\H-VT]QWK*&MR3
MHYM[<DH&E^;^*(8PP^H)Q[J:WBH8$$`@]0:C6")&++&H.T+P.PS@?J?SH`QA
MK4L_F+:0!G1'E3<,"1`!@CZGC\*DMM;6ZNO+CCQ"3Y@E;Y<Q8^]_WUQ6LD,<
M878BKM4*,#H!V^E,:TMW38T*%=I3&/X?2@#&FU&>VU6;;LDA,L,>TN-QW;1E
M1WQG-5'UR[8_;_*!@$$S)&A.X$.JX?CCU]O6NB^PVOG";[-%YHZ/L&1]#VIG
M]FV)FDE^R0>9*"LC>6,N#U!/?I0!5T_4GFGN;:Z:`2PR*F^-OE8D9P,]_:JR
MZO<M8->&.+8\@BC3)W+EPF7XX/.2,5J)IUG#&D<=K"B(XD550`!@,`@>M+_9
MUF7E<VD&^48D;RQEOJ>]`&,=7O\`]Y$J6YFB,H9@3L;:%(V^_P`V/PJQINJR
MW$SI=^2A\J&5&1L+^\W`#GJ1M_6M-+.VCC$4<$:(H*A54``'K@4-9VS$%H(S
MC;C*CC;TQ]*`.?BU&ZAGN%8YMY+N>,-N.Y-J%_\`V4BK/AR_DOK!$DW*8HHT
MPY^9OD!+GV.>#6P;:!NL29!+=!U(()_4TY((HSE(U4X"Y`QP.@H`EQTHP*6B
M@`HHHH`****`"BBB@`HHHH`*3`SG^M+10`F*-J\\=:6B@!"H)SBC`SFEHH`0
M@'J*-HQC'%+10`A4'K1@&EHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***
M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH
M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B
MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>14
<FILENAME>pg6.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 pg6.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@!;0#:`P$1``(1`0,1`?_$`),``0`!!0`#`0``````
M```````'!08("0H"`P0!`0$`````````````````````$```!00``04,!0<)
M!P,%`0`#!`4&!P`!`@@)$1(36)@4%=465A=7E]<8V!DA,=:GMR(W.'@Y6=I!
M46$R(V,U=39Q,S1D968Z@9$D4F)4)54H$0$`````````````````````_]H`
M#`,!``(1`Q$`/P#H4X:7#.X>DB</+1]^/K2O6EW/1XZJ00Y76Z7%$+-5UYQN
M%9C9NGUA<6E4^ECG5%45#XX@PXPN>68@N>65[\MZ#-WY3?#)ZA6J'J087@6@
M?*;X9/4*U0]2#"\"T#Y3?#)ZA6J'J087@6@?*;X9/4*U0]2#"\"T#Y3?#)ZA
M6J'J087@6@?*;X9/4*U0]2#"\"T#Y3?#)ZA6J'J087@6@]`G"FX7X0Y<J+HE
MJ2&9-]-<J7$A:/L!S/<^-LQ^YPLD>P@W0X96OGS;7YMK\M^2@\QN%#PQ"X0@
MX^AVI@`(6&0@HPT)L`,(/#&W+EF()FC8X888V^N][VM:@]&7"KX7>!L-/RT7
MU%Q/BE13P1+*&8\L;$)`"!A#'`RUTBPV94$4;#'(2V/,QRSM:]^6]J#Z<>$_
MPQL^=S-#=3L^9ES,^;"3!RYF=K6ROAER(U^;E;'*U^2_T\EZ#R^4WPR>H5JA
MZD&%X%H'RF^&3U"M4/4@PO`M`^4WPR>H5JAZD&%X%H'RF^&3U"M4/4@PO`M`
M^4WPR>H5JAZD&%X%H/&W">X8][WM;0S4Z][?7:T(L&][<E^2_+;O-R_1>@\O
ME-\,GJ%:H>I!A>!:!\IOAD]0K5#U(,+P+0/E-\,GJ%:H>I!A>!:!\IOAD]0K
M5#U(,+P+0/E-\,GJ%:H>I!A>!:!\IOAD]0K5#U(,+P+0/E-\,GJ%:H>I!A>!
M:!\IOAD]0K5#U(,+P+0/E.<,GJ%:H>I!A>!:#EE]T_6+T`Q/_P"13[L_^C4G
M]';T'?[G\UO_`$;_`(+_`.R@ZG^$_P#LQ>'W^ISKK^%;8H-@5`H%`H%`H%!H
M"D->=;%9?$7-S##J;+NU8^T&2K`;.D!JN]=*R?KLH*\;$]>",&*[1[D6,4QG
M(`IRR@6;QP,ZDO(BJ'#P0=S/=`X4K9C8V;I(C7;?7AXE%9P!80?Q:&NY6Z7A
MMP@CW$CE38UM/[%E<J@BD!%MYQB]#!I.#+#"YN''HQP<+C@Y4&<6N302'-MI
MNB^G[:[L%83YB<")%-XM9%$#8[2<FJD8`N\&.G.:;Y94";:DHJ"F34@2QT4F
M*:P'L9QN:L+E<--6E"M-^L<>-R6RL1N_%Z9\-YS).N348C#>]FK,#M:4HGWI
M*B#L,V,2/?XQL_%1-.*FV6GW``%<3;6%4!,S,'.ZBI4-D:;MGLF&#`CA0G\V
MYW8<E26Y<2F$=1JO,B3EZ/E628Q06*,*BR@Q&RA/E'9V*VL)3R-(MFLKII`<
M!<+%#H:2IE1`L1H[N[>9CP.]7:2-$HN=A'5I7V5,'(A4R)_764I*7I19,VZ\
MG2@*7DLV3&:X"B%T!\T"84DD8#`4Z:,$U@IT84)F[F[I*<:JDP+*HO&4^,]9
M=5I-?D<I6M*OF[%=2E>7YECC85VETL0J"Z1U2!XV:*:\[-I,)9G!10\2XH(@
M)T$/,)GPVPG@Y+T0QHV9=3%%I/9+:DD1E+;JUHE`LC[),\Y,4E%Y/C<%,;+5
M'(H#ZC6&DQNV+*/=[7!4#JC9>Q)#I%Q29<)PTNVV77[<..=@'`$',3G<RX6C
MPVE(>=HSE1&:4;1\\'4NPZZBC7;(YA!)XNJYD=%<I%.=2`;N;2S5C]TT0^*&
M'ZVXY99&_&TI")E0U'7GNVIU(CEU2!E%]W<"6C[W(Y-5E]?;YE9)XML(1!D=
MM)1<=1%[K(%E`:Q4T'D(/8+()(U>W7FJ4W)$J/-:^JQ&XPH9A*6%9IWUW>*D
MWI\:+AA1;49L<"8YL"^%XQ<L>3*6$+&4ZYO(1&+I6!<P1-YK9`4(-P#:<20[
MVXWW8WS(AU`="(E.)$."DSR<*;2%L@`I)ID5/4RQ-2(B#DC.&>0)@$(<*]^:
M)ACG:^-@K=`H%`H%`H%!QO\`\4Q0=#W"?_9B\/O]3G77\*VQ0;`J!0*!0*!0
M*!0*"-I1E)LQ.B(RLXA<Q#;J>+4CMG(I;(*RBZ'R]U8%&;;>3K#9AA8B&#(N
M0Q@;.]@BA$`<R+>P0.=[!AJK\11G--+FI[OB)Y";<0:];$XZXRY*8)]FK:6S
M5D3%@7QDA4;Z>X/&:\3DA)+2[*"B`6&/IH5QS)@C@3+C&,0GN9=IHXB5!5U$
MDH),A.%MOV&6.Z6*U'2W<W:W,)HF1J0LD.%52ASW=)=+2'&Z.>/;+#',7N(P
M"%SA\+AT%_%I\@TXIV12LR1<86,W,19826$_6MFHCN]3`7C"8V"Q.RIW097U
M$%J*N0!0/'(<;O6<MAC>Y4>P8>@SL-`9-OI[L,S9$X+65TDJOI3CRD)I]XE-
M".YJ^!1:3E6RM<B=2![MY0OB9"$R!YI`SESN:`+?`/T786!`EM;;.<VQ+XRM
MM(Q7W"V\)$:(K@1$3/!!$#5E5$"5\U0@GC8.I+O@*(%CAGWR*\V]^Z`>>'P(
M$N1<\Y136:0-(RJZ1HS`EJ-G"2,IBXD/2+EP\00UATL5P$!318T43E<T1+J/
M0Y<E@%%/%MF(&:QYH3?0*!0*!0*!0*!0*#C?_BF*#H>X3_[,7A]_J<ZZ_A6V
M*#8%0*!0*!0*!0*!08J;5PVORH5@1TM:_=3@UZV0CR>BK?YX(7C6EH:.[V&\
M$``4R,`5P5<F/(BF;3;"YX`B*A0MAGF'AE<7`,9%SA\.I]M+9N(WG+J'C"&V
M&S1J?9104"/U`D^E!EGR<8DE6$B[F47H=2DQ*=)2,@2JLL8)F9S-//FBY4$J
M/D$=!"@(G#:<".BOIN#/^)E2QB6VL](RD86&50K-:7'27MZU]OU>+9(?]Y).
MA.\CBYFW9((F4LD@A9!7#43Q8V=#OSPHJ5PS)&-YR.=>6P[<Q=#D:4&)K`?;
M#B`5MKT</_6[8:5YQBV2TA"4W^O,<AD(5E$9+4T!*34I&$"L8Q"#Q!.&`Q`N
M!9X:BTC1BJ1-$TSIS?9RA+LEN--2GLP3SKNS84DZ/)-;(\-,]?1GNTWBDAM!
M\R^O.$BH@J0(ATN>%13V`R8*('<+:3N&4_$6-CB6D3''(,J)<KZTR^T70;B!
M6,,DZJ0!K+&>LRHRY#:Y62"#E<#,?;>8`Z@%<BN)QQ&43H`P68^9##IPR7C#
M5PPRI_AMZ)Z0SF>P=<]7'[`S60F"URS%:2RXID?<4O=U"M-E$5%4P;#&9A*'
MB!<@6&,&!1!E0:UQ!,BN0PP9VT"@4"@4"@4"@4"@XW_XIB@VO<./?75*)]`-
M*XQD62U-HOY@:N0:T'HU%J+I?*+#:=#?CAO)BZ@JI7-@VR+J*2I%A`!L/IMB
M('>UKWMR7N&:'S-M'_3;]VTN_8&@?,VT?]-OW;2[]@:!\S;1_P!-OW;2[]@:
M!\S;1_TV_=M+OV!H'S-M'_3;]VTN_8&@?,VT?]-OW;2[]@:!\S;1_P!-OW;2
M[]@:!\S;1_TV_=M+OV!H'S-M'_3;]VTN_8&@?,VT?]-OW;2[]@:!\S;1_P!-
MOW;2[]@:!\S;1_TV_=M+OV!H*::XJ&@Y%12D@[L&F$U9>R/8H:6:8TI%U)9R
M3"O=JE9*(C,?`THW3B?]J/T.&?0A_E9\EOIH*E\S;1_TV_=M+OV!H'S-M'_3
M;]VTN_8&@?,VT?\`3;]VTN_8&@?,VT?]-OW;2[]@:!\S;1_TV_=M+OV!H'S-
MM'_3;]VTN_8&@?,VT?\`3;]VTN_8&@?,VT?]-OW;2[]@:!\S;1_TV_=M+OV!
MH'S-M'_3;]VTN_8&@?,VT?\`3;]VTN_8&@?,VT?]-OW;2[]@:!\S;2#TV_=M
M+GV!H.8SSK,O_OC_`,A'WMOS0S'^C+Z;O]`?Z$_OO]__`'5!VRT"@4"@4"@4
M"@4"@4"@4&OC9#+*V]O#<QMEE;')1VWYV-KWMCES8*!OCSK?5?DO]5!L'H%`
MH%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H->VR/Z=W#:_S';G\"@:#/Q1
M4D]((FU16/DDM,(`"&CRBHF@"1$D6"QOD*8-FS.81<L`%C;ERSSRMCC;Z[T'
MS&E]"(J22C'5I))JZ_8YDA)1I2)EU):LG@8F3]TDB*-@:4K$2V=A!NAQSZ+"
M]LLN2U^6@I9E],DF6<)TX\6J5)M$P&4=9LRX4@`LV#8U@K@E7".*;Q"13`MA
M\+XX&;A99<_'DM]-J"X+'B5S01*QPK<Z,5S/`E+&`KFA200@((AP(OS^E$*A
MBF`\<A+6OA;+/&U[\M[<H?50*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0:]M
MD?T[N&U_F.W/X%`T$D\01IJ+[T8V\9:*U%%\KSKUSEYOMUH([>-NM8<;D56.
MLDVZE)#>(DU`XIJII;&`Q+8!@Y9XC\W*W-YO.L&#VQL/S<ZY\?BDV4%SJ!R2
MDSA;YP`]"[>5!DJ-`(#VU=TE;+8+*J(3Q"8A@I'RH`HG03N13-Q%A\$X/$P*
M%D!@&/$/:<RD[23.0Y;2I,8I*%=9E\C.CC)MD5=-RAM$V-JE"5F@N)#=62!Y
M*FLF=1"KF5\!`PCI<4%Z%,,1<36=\`@S4@P.=(/GB'H;\S2LIQ^N13&;65I$
M6KK[I46`PF?'TS!H;1M(I8;Q1#O%2A'[235PN9#[O=3FD0TJE;A$RN(&(;5*
M!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*#1AN[Q"M'(8XAVE33EK:R#HX=$+
M*&Q.4KM]XOU&0E=@X/\`@=,S9(CG)'APA4H-UX*(%T_(6V.)OI<>COE>]!O(
M*F0#I8L<*B6&+&P`3)<7&V5L10!P\101+6RMCE:V8>=K_3:U_IH/?0*!0*!0
M*!0*!0*!0*!0:UX=WQF2>8HC:;8RX>VQRS'4M,=L2*Q58]*FGB*<4FF\$<HO
M(!XTD*6QH*@EF#28>#SS+CX8BA97OCG:V5KVH)(]YG9S]W)L)ZY]+_B1H'O,
M[.?NY-A/7/I?\2-`]YG9S]W)L)ZY]+_B1H'O,[.?NY-A/7/I?\2-`]YG9S]W
M)L)ZY]+_`(D:![S.SG[N383USZ7_`!(T#WF=G/W<FPGKGTO^)&@>\SLY^[DV
M$]<^E_Q(T#WF=G/W<FPGKGTO^)&@>\SLY^[DV$]<^E_Q(T#WF=G/W<FPGKGT
MO^)&@>\SLY^[DV$]<^E_Q(T&C#?;ALO+>;B+:-;VNCAT321QUR43=IR9QR6]
M,QLIM0F3<P[X(3LP@]A!D\;)IR6-G97[MRYJ@@#W*6O_`&06-!O/]YG9S]W)
ML)ZY]+_B1H'O,[.?NY-A/7/I?\2-`]YG9S]W)L)ZY]+_`(D:![S.SG[N383U
MSZ7_`!(T#WF=G/W<FPGKGTO^)&@>\SLY^[DV$]<^E_Q(T#WF=G/W<FPGKGTO
M^)&@>\SLY^[DV$]<^E_Q(T#WF=G/W<FPGKGTO^)&@>\SLY^[DV$]<^E_Q(T#
MWF=G/W<FPGKGTO\`B1H'O,[.?NY-A/7/I?\`$C0/>9V<_=R;">N?2_XD:##'
MYT*%U+]FOTJ?<C_U/K)^E#Z.?S]?X=_U[_!?^8H,K.$_^S%X??ZG.NOX5MB@
MV!4"@4"@4&'XFW:3T.Y69:.769,:9N8@UW06LJM0*[].GX@8DV!CLT418L$5
M+!M"1"`=^^ER.?=^(P5L>9AB+F$F^\YKF$KN1MGI\A(BZ62B+;B?+:'EAAV6
MF6C-90+H[L57.0R7<#:(E-9:-!DU$R9P"!)F1,`QLL,\\<;A]I#8S7Y50`W6
MESC$:FUQG.=90;D39&:)]!N[TT\42U%L76"BN,GXKI!2/ERXQ6XEA@AC`6&6
M-LA,+9!XF=C8#+($LN<.9(V4T6!T%<<\SF4!XH3D'C!#;8#E,+9U[)Z`=4E%
MO][\&:K8YAF`L!;BIID/'&^8(F.(8Z/+=E;9,%*6Q:MK=*`<9X0FYYT2#0JV
MR2JS@VT%(1W&F-YZHPRS89DO)VMU5S-$2E\CP(6908L;'+&NC!$#*(S-\-$E
M1QH9N5HZ++3/![H=*0*\F_@IM\+OD31KY*Q#(_8T2YJRI%B=[9X6RL;,@@WM
MT@H>.05!&EF+7&LI#>;\CL9<77`@EW2@I"0ZD-245MM&B113++R24)GAAE))
M'33X!G`P#;,+(N.&+:_,SQRN$#A;6AN=6EX&)8M=4L-V"I`SBJ07$@K;31[F
MI$3":&HO-KL-,<2LGB.\W'A-P`8+`F0I(*QX,<B3R.'2PX&`2<+LIKL!=UV$
MGB'.<Q#@2>]P\),9@HK./C&G"1#).D()9S$;YJYMH*P=PS=@LK9)9RU[6[F'
MY@5PS-T,$KCXG)<C(I<JH]YS-C3\:Q?N97NR<Y+LEC],JX="HY1P'DX+`9<@
MET3&YZV/<MKBT'FQ9CBR64QQ*4/2/'LLAM<Y=)6;QZ^&R["R6O")998*(:N>
M05%2+)"B<3CQ<?`,Q?#*Y<<,7DOAEC>X07'6W2/*&H$=;>H#-%06])[48CS;
MK0D1],)C'2B*_P!;1DQ*#7W:HK8[(2U7`DL8#V+V/"W',6Q*`Y9CB88W"1UK
M:?6-MJ2PC.'8N"T-7;PQDLOI:O+3"3E%#,$G`6:9X!7)&U\$RFC$'0=!3C&(
MV.%P#PV``G-$SQQN%)OL_&2._?-X]W&TVBOK\T'X1C0GB]6\XSK\=*5$:7+Z
MJ6-)Z"8-F6(L$$`P;OFF+/<QSH"P!FV-PCY/I`\I+VIA..8BDB8+2(P7(BQP
MENX4V33'\T@,E1SM)H''L,QBRB<5<$XHYSZ`5Q,A`CYX7Q)BX&LN0M?I:"68
MW>A62([84B$B)I+)/UEM9Z%$P]F$(=3BKI0R*X7(G,P,L@,S10(]8,2^%[X7
MSQOR7Y*"]*!0*!0*#C?_`(IB@Z'N$_\`LQ>'W^ISKK^%;8H-@5`H%`H%!@NK
MZD.:[XVH-MZ0$4I'>X;@9;GDU&5FP<.NMJJ;=BEDPNY060M%EPHF#$G@Q8[3
M+!6/%,LTA1N9,VN;#%#+`AK3EO2&5I*@[>M=/1WC9UD94XB;JUY9J<R@PW_)
MRELA%*O$J"85%<PM8DE-CKR:X!3&)6^)2YP8`CD:R`LG6R&#)UW<-!3>DSK,
M^W=<-&%"8!%="GV('[""L]85=4=+;-@YH@7;3.%D)K&D>3DHI!*>)DHJ]U1/
M/`G1"9Q.$#)D\PPRE9NFK5!UYV-UTDLVF.=J;+.W:T^^3K51KM!3&9FTS\D=
MX+#;$-Y&U<<=7;*?)9L@`HWRM86X6(]@`KY7#L%CKFJVP3[U'?.J4C3JP%PN
ML0@?A%!DA*BE625Y8`&02S8(/M_HHD@'4P1PETHO<8T31Q$\F<41,A<+E2_-
M*XA##VX<LCOR6'-(;KE"*W4@JEYH34IHF([DADJ*<W)5G6#Y[01DEX1K-#6&
M8TD1DY8?PP3G8WR*>KG%#H%D]D84<1;YA,D(Z6/J*)@8<I*DVFG*<;D<(S&D
M8^625)*4=@S:''J*RD-S2VWLUX_'UWPU3J8(83W.CI:8OBI@F*2=',E,+WR"
M/Y+X<RJYX^VQ@UFRBBH4)[>3"9G-RI3E99IQNR+'^Z5QHN2416"I@.1+3%A"
M?+B:N:J7**)?`5'55,X)B8-%<P"9<*PF:!+S:<[/D1M2$SPWJQ]G]JYW*)JF
MP#(K%=[2VL!?11=83V22KE`4#RTQP'M;)-6@A\;"8E!"^10,$^/T88['N%T[
M(ACXNWHSE,HZX_C1NL1T(C+5XZ/JTGO1U1+H<_=*BC7*NL!^$D(BFNINK">J
M%.5*&%(J(8I:^0A3(/$,,MM%=:7+#[#0I'>!-O-^6WIJ[JK#[A:2(V!VPCMX
M/7]DNHNC!.0E9443*FZ\%J15$J=&Q%Z,$B3*%2]\L`.F%"-4'0B84[2%C:/J
M$VQV99;`AYAQF2=)2*%P)6<"PP':Q%Q'=:L2.2,=!3R^"2U#0.1`J+RYG#^`
M]S%@RW0#!;3[X8JT],I=SO*#,)"2DE<0U+Q'%C,R=&0_?P2(]2>[;B7=H&2@
M9C8)AVZ3Z0>_6!GF<I.P?+F%X2)P]'5("@\#EY>2&^&^I_5I86N]3-5+'RC5
M>6@V6A[T;R0HV=P&9=X!H0F;D1UD3`0`H?OB7')&`\.DR"*#/#$EH1M,,\0F
M6!6]+2(RYDB*27*V-;%=&9,RQ[+<0-"&\7B\&GG,A]=QF]HHT?)`J:JX+.:6
M53NZT8$B&2,=)@&UJ(6.9C*)XPC8ZJ@+IN/H]9;(,K95/$22RP.U&XFH(JH`
MEBGE01-"4,R%Q<0,C)BX5L^;<3/DYUPD2@4"@4"@XW_XIB@Z'N$_^S%X??ZG
M.NOX5MB@V!4"@4"@4"@4"@4"@4&C=Y;!2_)[.TVDI,<;Z0S$X<42>8-68]:[
MY-1OB<B&)6OO`R$"/3JH7%#R*F15&`4IQ*`V-PS8RMB*%B)B7OB%8(5C_;*9
MXZAF"-Q)EEN252/M:-P=IM2MVV.<-%E5,;D=N:6'='L*.Q?6FL4`;\RNK7%R
MYLI$/NI)+A%UPBKJQLT#8Z5Y``R]`M,Z)L?H3%[UEB5$8]-L);VR1*[9#>QW
M.Q!X=\H%<C-00,3%S(8Y:"`Y-/(Z+;FY`]`#AD8P'O?EH,S-(IN<>QNJ4)3,
M\2`">[7DTLO&C`H!W,GG7"WE=3:JRN)1;ZBZ,XU%#$4"0=KY6P*F0[6RRM;E
MN&5-`H%`H%`H%`H%`H%!QO\`\4Q0=#W"?_9B\/O]3G77\*VQ0;`J!0*!0*!0
M*!0*!0*"$0-=(9MFKAJ4?-1RI2G("W*I-!=C=0W,CMB1'3@8N[G8TBJRG',F
M\JNLZ=,FSV9?+'I#APT-CS<C0_/"02C!8A!J!L,BRFD28X(5P0684;B.7:@0
M-SMU*X0;=!)X)`85U'*X_-L#:W37Y_\`6^F@^)U1PT'<?*+RBBI@+R24A:0V
MT_RR2CYOIG)[C""`7<&@YCR><4&\(IA`!]+<OEC83((/+*V5\,>0*JS&<V(\
M:+98;*123<:#-04IL-A`3L,@R*.@HA(%.2TXKCGD()<$H3+X86OGEEGER<N5
M[Y7O>X7+0*!0*!0*!0*!0*!0<;_\4Q0;V-<=;.()K1`$+:\-*?\`3AP->#XO
M8\4MY=<6L4UXKZPC,-N)[:3E-:Q3-KRB=94.E$[$0?H`@P>DROS,<<>2U!-'
MBWQ)?31H_P!F2>?BWH'BWQ)?31H_V9)Y^+>@>+?$E]-&C_9DGGXMZ!XM\27T
MT:/]F2>?BWH'BWQ)?31H_P!F2>?BWH'BWQ)?31H_V9)Y^+>@>+?$E]-&C_9D
MGGXMZ!XM\27TT:/]F2>?BWH'BWQ)?31H_P!F2>?BWH'BWQ)?31H_V9)Y^+>@
M>+?$E]-&C_9DGGXMZ!XM\27TT:/]F2>?BWH,?I'E'B0Q_.FM\*Y2)I"IY[!&
M9;+X."VN\\E;-CS6L7%Z9973?>H,=]>_//[G_P!^7Z#DY_\`:?U;!D#XM\27
MTT:/]F2>?BWH'BWQ)?31H_V9)Y^+>@>+?$E]-&C_`&9)Y^+>@>+?$E]-&C_9
MDGGXMZ!XM\27TT:/]F2>?BWH'BWQ)?31H_V9)Y^+>@>+?$E]-&C_`&9)Y^+>
M@>+?$E]-&C_9DGGXMZ!XM\27TT:/]F2>?BWH'BWQ)?31H_V9)Y^+>@>+?$E]
M-&C_`&9)Y^+>@>+?$E]-&C_9DGGXMZ!XM\27TT:/]F2>?BWH-9ORA]J^M3KW
M^GY\QW]&J1_SU^0_Z2?YJ?[K_&/^<H.A*@4"@4"@4"@4"@4"@4"@U[;(_IW<
M-K_,=N?P*!H-A-`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%!KVV1_3
MNX;7^8[<_@4#09-[+3`9U\U\FF=2C6Q>XL/1D\I*S:62[BV;N$JRT(ZX#R6&
MO9I:U@F#F21`2P8F14:W/Y+7QY+\M@@"5MXF[&,F.)EBM7)3;L9%]41YC=6:
MS<B.T[[D3"L0M%6"$D=ZS6#B[R+R+FI+]Q#)+N1(&"$`[I&O<'$,?#'%41LV
MRAN1-B0WD5D]DDI8A<ZJ.O(@B*<19S4#"RJ^Y/4RS:418\)HYM80U@3$$!5#
MN3<)4"XF`P0^5@SIA:?RLT]Z#!%K'VB6.1\TW.I)KL/`$'8E/%PHJ,X'!'EV
MWT7=!E1C(FO%"KA-XYV`)JQK$C:V1@$U@`&0]`H%`H%`H%`H%`H%`H%`H%`H
M%`H%`H%`H%!KVV1_3NX;7^8[<_@4#094[!1&5GZ#)>@X^O'6NG2]'+OC93<2
M:3*GU)&2WHAG6^I*":4/7[B%4"Q$^)D!TUL@L1>;?+'/&U\;A"<@:6,21Y!S
M?:VOJH`+H)ZX@2XV"*<E62).,ZFR<IS%"!LR*:"-'F_9&?BP/DI!@""V54VP
M1,2^&(?29!3(;T=9L&*9M:8[S<82JWXF=$&PL:42*4=PAN,72_5"2C:$DEA`
MN@<IDHYAD\($<_;*W>Q!3B^>&>89D<T'O)Z/,%*V"C">49U.DB+&+=1$@FU1
M<RI\-94V\W)V;1594G*:PR7;6<`>Q;A4G"6QROBO+H2>?,9V%*9V,!FQ0*!0
M*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0<BW%QX@_$0UQXPV@\!P[JQ#DHIK^/.
M+#5!X+BM()$N[U*6FPG1=*J5)(J2:N5218?.7S63PI+"^`*`9*F1>2^0F.(=
M<16QFQ8O8[D!F<L`#8WF5P$"+9F;!X]/D7#%$&%#`R%Y;X8Y9Y96QY+7O>_T
MT'OH%`H%`H%`H%`H%`H%`H-+F@VLA^?-(-19NDG:S>16D*6]<8;D5\*A3:Z3
MT@JHNQX,)"77`>+)24H$TQ,+FE0\+G@7`"#"!QRMAC;DM09;^X2V.LYO9VOY
M>\,T#W"6QUG-[.U_+WAF@>X2V.LYO9VOY>\,T#W"6QUG-[.U_+WAF@>X2V.L
MYO9VOY>\,T#W"6QUG-[.U_+WAF@>X2V.LYO9VOY>\,T#W"6QUG-[.U_+WAF@
M>X2V.LYO9VOY>\,T#W"6QUG-[.U_+WAF@>X2V.LYO9VOY>\,T#W"6QUG-[.U
M_+WAF@LE?X7\+.MWL"0'-,^XZ^^8I-.0]&;N5=J94..!A''DWS#4=AEK*0JM
M<PDBN-LFQ")RX=[=,6SOC?\`DY`O;W"6QUG-[.U_+WAF@>X2V.LYO9VOY>\,
MT#W"6QUG-[.U_+WAF@>X2V.LYO9VOY>\,T#W"6QUG-[.U_+WAF@>X2V.LYO9
MVOY>\,T#W"6QUG-[.U_+WAF@>X2V.LYO9VOY>\,T#W"6QUG-[.U_+WAF@>X2
MV.LYO9VOY>\,T#W"6QUG-[.U_+WAF@>X2V.LYO9VOY>\,T#W"FQUG-[.U_+W
MAF@YV_':?^N#N+^W-]P;](%S?HT>3?\`P_\`J[_N'_%?[V@Z#N$_^S%X??ZG
M.NOX5MB@V!4"@U(3Q*$IH&\<^LMHK#G5FRF<-!-D<-H`2H;9R*TGB9E:94(6
M14I*RR&+EW*.DM\H6[O!Q"$!P)X<F7+E>]PAW67B&O\`#A+7)$NW;R<I-J..
M&6TY@<#N=2R<E21')O1'[2Q*S&T[Y%U`)?;35=K@L:6!!LLLCX9!<Q`S+9I>
M.!D+TCGB=2&NL-MNV0&!$K6P?D<Z,RLDK2"^EQ=;S`9NY"G+S;,''L754EN*
M[D&82_#PV=L4BV/=I57!RRZ`,D<,T%P[<3YL":X=40SH4:XD9SX[YKTQRQB]
MH2^;:112-R)M-%+3-Q&>E'(BG63$N0FPX!$53,&B=PR6"@-EF%S@;7L'G$&[
M#8RCZ.3;5=;@<LZ;";9']?I::\WJJ^DA:F3SG'3[D%6B1YQQFMJQF.T1!(1U
M9';241.6+.8PKIRB643P"B&>,!:,9<4.49"<D<W.PLPFHTUMU:G,Q[$SS^73
M;Q+*^SLA3E#V"@S<;-8FC*C;0WM#P:LEFS&05U]LJ08N&!8QR8W#*_3W;AZ;
M,CN9?6F<RFK'"5&<>/+!<2W6:4E-`?CK4WZ7?$0N3`<F&C'C\2IS1(F#R^0-
M9)2I9;!N5PL&%GGD&!<=[7+C#5G8_7>[#S[:`V_._P"1CYVOF>7VVH_;L4Q'
MJA($N-?$$1+#<#8=T1%2C)/`X7-EE`BB7'NJ%`1C10.U@E-1XFK^16>YWLH,
MF+16W&^P"E!<I+@+G60/$YOKT%1/+#+V)5F_AWQ4TB%&`MRT3*R`*9$[N1&^
M#FL\P.^(J>$'JDK>:2HDD&<FC'3+CQR+Q>8)O)FE5_3'(ZBVQ<8;T(@K9TLH
MMU`$3U[!F([C).3),$1DG,NG%1\,E:W=!@X:MF$XQYO2\Y9FR.XY9<=-(%&<
MIR-3SL+J[P,BNMNQI(FL)?8$"5R(B6G&$0\FDG@?+,7%''[F41CX^"GSL"(@
M>.81'+&RTF0WO!L(D-A2+O(@<0.%U'#6CM]/]PIC$9BYM//6SL6NU^)*(0+K
M.`"R8`;*&*8!"+@]W!)>.&(H6>>>>807('$9><V1L@-))4F="DA-9TZ1N^2C
MJ3)"\EGG20?_`!(U35]VI</&`N\!U:9=O,FL8K=E'$<,0FXRB89"P$S$&N$X
M%.)A(:N."AMJ*&F\'?=HS"O'VDT7/@K/0H-#FZU]7%X1$9*DIM\Z\5(PSL1G
M&5;P!PJL*!XKFF$LC`X@/."V&SQ$YW>3F,)T>!:ZOP&2YOUNBF&<%-3D-CI"
M2CS5H]GL\.\'`,;15)ZK9`RZR0Y$F`,C(YO$GES!0@S((F%P^H;B)'8E2LB0
M+>9)TR#LS+K1>K=<$T/)X.S%#^8.GZIF76@*+R!QLVV<7.NHPI%"H@XA1/&*
MA("<GX%`[FRH?>_)0?R)PF=_I&3Y3>A=]1F;XG>3*DL-ZJV3N:@L4S_L.F1[
MFENP90&42N#*(-P@5(89#9!ERI0(#FW"QMA0973;,J&RSFH+42E`)S+SFGB+
MV@HE`Y;=;?540%X1+,QUNN)U@H!\<Q(*2K'F6;"NE+N0I`\*'F=YHID@#R!A
M_%/$RFUZ7AU:<T6PFG-624SA[NQ3P;TC.]0<"8V]_G$_HW;R6F8J+0()IYP1
MX^&$(?,C"9AE5-),V+@X!&0[BYA'S$XD#KCTDG'U<FRDZ)R429*_>=T20Y7B
MZ2<AN[B'.C4H9X+\RR@YB>8T6-`&Y=7.XGK%`THE<0OD:`+!E\@`^V=M\94=
M;;-14H"Q_!DIQR]-'GT_3;7F;(^.^&1+_$'\R13&)5MJJ`!!40U)F1J8R=A(
MR94@"(KE#03&0F>&9L4-\-`H%!QO_P`4Q0=#W"?_`&8O#[_4YUU_"ML4&P*@
M4%J'6(QU)74G`HLUJ'UY90,VHL+9UNI!I756L)F()FVU)2')YG3R!F(-GE<F
M+GD7O?*]^9RWO04\G%L9)YI#/$(Z8A$ZV$3Q9;9PFT6^6--YM\PR'XOH9@%/
MP&243F'1L>Y"]PP.0;.W,_*RY0A69]0(<F5FI3-S1B4>%D94;"@1/,)FQ:)8
M<FT"Z\60&NNMA^Q^^H_=C+3K.4V*`DJJ.=)%3>6!HO@":!"'P"^F'KW$L?QF
MA1*09C<6&6WU45P$TE<:[2S3?&4=9,.(9P@-Q);Z0ST11NNFQ#86"6FD"I0;
M+_XX(-K6M8+G.1#$ZB,Z3*A&$=GC#Y,I1U[&#C*;9D=X'$(8$PB&W2*,F9B.
M`TC&"X8A00W<;,OF'CD'?&^-KV#VG8IC,_F(.8C]F]V9XM^V*D$V44%4+B-`
M,8)H&2BB&2Q.%#;0Q,9]ZA0\\1$Z^5[E[AWO08^ZXZ31#K.<4%1IBJ+F6SS;
MLS+.!SM:(D=P7:?3D3(B,MK481C'2@_AS)A-`S&4G,(M*XN8=\\S5\Q1\A0J
M2D]]2FDIQ1$@R"PR^*K([D@Z(&VAQ=DJM0A(Y=A.ESO1B-P9`:QUL-0V3CY$
M6<U7G"$RN`!8V5&$Z7`4"P?5"Q+4R1DN12<-1S&MT=E.QZ0'(9$A#Q5G$2[@
M:I5*:KW8!PDK-)""7$DDGIA)/,6`P,IA@L6!"QS$#"PMB$P>9^).DS&\UL==
M,)B;PS%\2&STF>!]!`:I_'//O9SLL3K8*A)HUKWY!"`>)?+E"QMA8,57/ISK
MVR9*<>TCH'5+$6?=)D@1NC,B,5Y(9&<7M-%34H\QETC%!Z>&XBH"(SRXH3?1
MW)@CY"!B6P(7Q'&"%"2&)(&K4\N=%5V:WVX^G&\8SC&<B;K-1"LVR'8:V(:4
MHB7UMWKS.*ED9;'P!&/(J6H&BZV7`M<R&5##OTEPE,Y!4(J(K?'4(<BL\.T\
ME+-K#'(]:)H5M9+"P6<*ODWQ!TC/-&R55\F">,W+7#N.<"P&SYPF..5@IK@A
MR!B)1U.59AF,SG?$90<[M-AQ@VUA57CUSI%>45=2`*H1I3<"N,I(Q8WGG?$<
MR,9*A9VYPH8=[!4D1@PHY;H$CMYCQBM"*2:SUML/A+:S7.F#:4B)AGQ"4T9P
MER&8XA-%1UD:R2*"+S2I<UG8"^&`F5K@4X*A%;&+F%F'(K5QR9A=-E!U./6B
M?&*FG2I$EAS&2XAI(%S`,.-732YH_GC>V1PR`&*+?//#'*P7+G'K!$;:LS1&
M.T,V@O#*1E<:N;:1<FVLF%@WF?5QU9#R)73%$95/"Y#&<Q@L\AQ<KYYWRRO>
M]!2"4.Q&FXAX)T61R0P"5"*V%@29#9*XAK283.)Z:KAX@)@=L%1/(*!@``Q;
MD%!!'$PPRMCGE:X>1>(8F*8E,"L7QV6P3\&Z&0P+LEM`XDL&>9,'&E@4Q#3,
M;%L&N<-BBIUL.;8D(+GD#S,LKWN'I&AF'S!7N(Q%$:CDN\#H:G<@S%:XI7Q6
M?!O!0>K:[GS2\@N\#O/AXCJA/D[G4!L;9CX"96M>@^(>!H-,@L\N9AF*#`$>
M)MD9@`#QVT!06.CXFD\]BDL\,1'RP;*;B=22HU@"5@`K"E@L^;S@\+V"5Z!0
M*#C?_BF*#H>X3_[,7A]_J<ZZ_A6V*#8%0*!0*!0*!0*!0:5(]U9F=2:6EK`6
M0%49=U;WRVBE"<W,`[SC,<"DT)(3-NB+0?K54B^82BX1'YC/B&JCAEQ@[8%\
MCY<7/NDOD6R"R"VB^T:<#)J$*D%5^.7Y,G$.7\&>/,9\FX,%#9/./E#6K8`=
MT!WP-6=<1BM5:)&@NZ,U=(\8['DW,R8*V#N%A2+J/L[#S4E27W(ZG8I.5)3M
MF<'A,;3DIT8/5P,-VZ)1_%R&N(K922CFN@&%C:)F"NVY$JF#AH8F5E/'"XG2
MAT&5VGI1;DG6K;<)OL\$JZ)=./)420T"26R^(/,+;NBE.9I%K1`X49<74YMM
M-)44'NQ33Q,LKE%-6,F.7+NCH@@@N$=/.(-`NK;SU#83J;GB[(6IR2(RIC<;
M^OE)^O6U6##(MA[1BIN9+2AW!*<&KJ@C!Y-9T\X-SLQ/&P3L`#A(FGXIX>$L
MZ!["2,JO]01V]DW(Z>Z-LHKL6#LYB/IJ7"[Q?^K$1QXS`"@S;4\40<NJ;"LA
M1=./<68A5#,#8J8&&!\V:"#"G18Z7&%OAEYR\7@X#L4O0515C1"3BHKR13:C
MJO%S!=P3TC)3P0G.Y=?VX[FZI+2,9($SY(9:4\E$L:,9"9@Y!LUT#C%\P]J+
M#K!D8L8378G$78LFD`T-<<TT4IYOYUO5KL4SE?++'`PPVLX22-F'A>X861&^
M&%[X8XWH,Q*!0*!0*!0*!0*#C?\`XIB@WK<*V9(@3>&AH&04)7C0D>*:?:\E
MS9,T_&J`9*F`HL;&(I<R`(JXB`&`<[7QSPRM;+#*U\<K6O:]J#/CSY0IZ8(M
M]8#3\+T#SY0IZ8(M]8#3\+T#SY0IZ8(M]8#3\+T#SY0IZ8(M]8#3\+T#SY0I
MZ8(M]8#3\+T#SY0IZ8(M]8#3\+T#SY0IZ8(M]8#3\+T#SY0IZ8(M]8#3\+T#
MSY0IZ8(M]8#3\+T#SY0IZ8(M]8#3\+T#SY0IZ8(M]8#3\+T#SY0IZ8(M]8#3
M\+T'E:;X6OCEE:7XOOCAS>?E9_M.^.'.OR8\Z_?;DQYU_HMR_7>@\?/E"GI@
MBWU@-/PO0//E"GI@BWU@-/PO0//E"GI@BWU@-/PO0//E"GI@BWU@-/PO0//E
M"GI@BWU@-/PO0//E"GI@BWU@-/PO0//E"GI@BWU@-/PO0//E"GI@BWU@-/PO
M0//E"GI@BWU@-/PO0//E"GI@BWU@-/PO0//E"GI@BWU@-/PO0//E"GI@BWU@
M-/PO0//E"GI@BWU@-/PO0<@WC\P?+UC?^4#XQ?ZP;?\`IWRB_P`3_P!/?\]_
MPG]Y0=65]*]-\KWOEJ7K->][\M[W@>++WO>_UWO>[5Y;WH/SW*=-NJ5K+ZAH
ML^RM`]RG3;JE:R^H:+/LK0/<ITVZI6LOJ&BS[*T#W*=-NJ5K+ZAHL^RM`]RG
M3;JE:R^H:+/LK0/<ITVZI6LOJ&BS[*T#W*=-NJ5K+ZAHL^RM`]RG3;JE:R^H
M:+/LK0/<ITVZI6LOJ&BS[*T#W*=-NJ5K+ZAHL^RM`]RG3;JE:R^H:+/LK0/<
MITVZI6LOJ&BS[*T&!FPNH^J*?NWP\44AK#KP21U]0VKQ7$LK"D:ET]8Q382!
M-IV*H3";.)<_B1-7Z0&PN.71B?E8\E_IH,\_<ITVZI6LOJ&BS[*T#W*=-NJ5
MK+ZAHL^RM`]RG3;JE:R^H:+/LK0/<ITVZI6LOJ&BS[*T#W*=-NJ5K+ZAHL^R
MM`]RG3;JE:R^H:+/LK0/<ITVZI6LOJ&BS[*T#W*=-NJ5K+ZAHL^RM`]RG3;J
ME:R^H:+/LK0/<ITVZI6LOJ&BS[*T#W*=-NJ5K+ZAHL^RM`]RG3;JE:R^H:+/
MLK0/<ITVZI6LOJ&BS[*T'W>YYJ/U6M<_^![V?F1C/_#?_P"?_IC_`('^Z_W?
M]%!D90*!0*!0*!0*!0*!0*!0:]MD?T[N&U_F.W/X%`T&PF@4"@4"@4"@4"@4
M"@4"@4"@4"@4"@4"@4"@4"@4"@U[;(_IW<-K_,=N?P*!H)"XARD=1=#]Q%M,
M75AL*R)K;,:RC.%O.%5:JXCK:2Q%M11E!)<"(?3%5-/EU0L%D%D"/AEGER8?
ME6ROC<,%]EW[,Q+8MX!MY=6`G$D)O"_%U/0D]<4"R4[09%VS=S>V[-E$TD;#
M(.@,W%98L6=68@9GO2V@P#5[@8B6&R#&6*`-B9L249N'Y<<#2.B:UK<O[GGG
MNN.H@TT6?6#M:=!QCQX'48X36V`556.1=R:(`F9EL[H+<2\;A9D@@+7#/2"M
M@G`RYWAZ!)3+R4]GZ^(FC%NH3S<QK!)-%F]A'TR.1/>CD8N=A3!ITR")KZJ*
MSU4[#7\7%-Q-U"SQ%SL,8N&U6@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@U
MO[,.!!+;X<.7`RN(Y;-/4MM,3P9A4(@B$[C027N%8T&(/CF!<2V5N3G6MR\M
MOYZ#8P*"5/E[A#A%SA0QAAE<,7`,P7&PY<1,+WPSMF$)ARVME;Z[?5>@\>X2
M7/*"=QE>D(89AD1.YPN>2#$#Q"$#*9<SG%L!`L+8Y6PY+7QM:U_HM0?O<1/D
M-6[D+<A\3I3UN@"Y#@O0A%ND-6YG(8$[G`##Y<^6_,PQQ^JUK4'ED5*Y&@SN
M18OD=!`&*@F\@0[F@BQD0`4P7#,7QZ4,`<4J%EGA:]L<L@\;WM>^-N0/?0*!
M0*!0*!0*!0*#`%H<2_6*0&JW'TQ$W9YY,IX(B:Y6F[6SI#N4LMURMY9*!'TA
M<0U8E!(I-22E,B/@,`.%ED&*'G;+&][7M07%\P"#?(C;KL'[J>P6@?,`@WR(
MVZ[!^ZGL%H'S`(-\B-NNP?NI[!:!\P"#?(C;KL'[J>P6@?,`@WR(VZ[!^ZGL
M%H'S`(-\B-NNP?NI[!:!\P"#?(C;KL'[J>P6@?,`@WR(VZ[!^ZGL%H'S`(-\
MB-NNP?NI[!:!\P"#?(C;KL'[J>P6@?,`@WR(VZ[!^ZGL%H'S`(-\B-NNP?NI
M[!:#E8XJ7#KUVWPXK&F.WZ)'.TI:&%12!)[Y)&6CNY*>(X$>'DX-=CE0+D,X
M/"/+9V6"1(%CJN17'GDB!<J9Y/R1,J#JB`WY@<J`"6+,+;4N6+A!@%RX&A>Z
M(0```6%@P@00@X$Q#"""#QMCCCC:UL;6Y+4'M^8!!OD1MUV#]U/8+0/F`0;Y
M$;==@_=3V"T#Y@$&^1&W78/W4]@M`^8!!OD1MUV#]U/8+0/F`0;Y$;==@_=3
MV"T#Y@$&^1&W78/W4]@M`^8!!OD1MUV#]U/8+0/F`0;Y$;==@_=3V"T#Y@$&
M^1&W78/W4]@M`^8!!OD1MUV#]U/8+0/F`0;Y$;==@_=3V"T#W_X.\B-NNP?N
MG[!:")/G`:'^7TK_`)R?,O\`HL[2_GH]#GYF_P`ZO_;_`/BG]S07KPH+\O#%
MX??+]/\`_CG76W_M%37M;_VM0;`J!0>.>>`6&8@F>(88>.68@F>5L,,,,+7R
MRSSRRO;''''&W+>]_HM:@Q$2=Y=>EQG(<@I2V[3C)=8T0YLUTA1T^+(3S0YW
MDI)B:*W:UE3)#Q)*S5=#S728=C6&=NY29H$X8P"*C@C"!EYRVMR<M[6Y;\EO
MZ;\E[\EOY[\EJ#]Y?Y?Y/KY:!RVOR7M?Z+_5_3_+]%!^6O:_+:U[7OC?DRM:
M_+R7Y+9<E_YK\E[7_P!EZ!RVM>UN6W+?ZK?RWY/KY/YZ"(7I.3`9#T1HV-F5
MEP2,N-I3>I-ALQ`578Z`&2C'RB4HO!534<N8NC-W!6/!$P#!K('NXYED`5L.
M,&)A@'J9L\1X^"I)42S*ZEMY81HX66XZ'@UG`QF\Z<I2NI8-AOMT\[T]%R47
MD".F]"I(UL,51+,&"X)H`(4;#"X3)?Z+7O\`3?D_DM]?_I_308I$]TH#/MQD
MNHNNN6Z+(>PC@U9:8XC#>((ZA.#5<SN9J^T1B8J-B:3BZ:YV$LD\E,Q@$EY"
M)XE\3&6&068@96<MN2]^6W);EY;\OT6Y/KY;_P!')0+WM;Z[VM]%[_3?D^BW
MUW_V6H'+;^>WUVM_ZWY.2W^V_+0?M!`;XV5BMAN-WM(\;<KB<4=,XA($D)3"
M9CH?IV/F<K8+0J*KNLLU$M4,$3"\`W#XJ>G!X#*IX$F**`5$#QOG071%,S,*
M:"CS/,$^HGRS"?RW&KCR4D160\P'4@$4A2/@%05<H3&/)^1%=*B@F@L<@!\!
M.7#*]K7H)3M>U[6O:]KVO;EM>WTVO:_U7M?^6UZ"V%%U%DUUMEHB([H-&G2G
M.11++2<VU8^U$@-L=YNZ"KF<Y8N(D-U15N_>'>T`T*&(H=SF.@MGW.+S0N?G
M8_D_E6_*^C'Z;?E?1?+\G^?\FU[_`.RU!'$7RNS9A0UQPL@TH&DUN2!(L8J]
MU-'4D,T6>$5O1;C]YD.XE4N5-9ER+F;YH((Q;&X)H+'$4++(//'*X210*!0<
M<//S_P#JR_\`*9Y?ZU_K_G^OZZ#H<X3_`.S%X??ZG.NOX5MB@V!4"@])FPUR
MX]B]@KF+@BV`L/:]P;C7PRZ*PUL;VRN%?/DYW)]/)0:*"7#LFQ$37XRHW;S9
MBW7J15G5I^NK4VTK*SGAQL33'^V,<3=-SSUW',H'?>(8W=;`:RF4R;!:Q),5
M5PV7'#3TGF&C!L/,+A^;1!%G4SB"RV&ZT%(1:)P$J([]6;J6GIY#WFEG8!I/
M%A$\DHK8\$OP<^&\@C)Y3,*Y09H@(HEQT0SD*"$;2QKWLY!+.?3U<1!MIS)9
M"/(S);*T@22\U/%TEY"XCK$V+CXV_6^A1@X,VM$2?&!HXA.<,S8P`22['B>0
M@"<8N<##X6_JKL'*D=67H08[<1D1^LN1VHL"KTTG0$(@Z%G;ED[3ICVCE93&
M*8LY(T`23JNUFT%B2*#H(*27*6N9*7[JN$E@Z,[7N:2%M8>;(C5+9SGDG7)Q
M.A%0YN<R@BJ96%]S)7EIZK>"><98#B71I'A&002&6*ZIGSAD4(1,,B`IN!4$
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M,1BJ39U1_P`4&6MN76G9S,\#K-!AY]S'L#(2/9#;HR3XN"/@LB2RG!&"6*>6
M#Q.ES6>!S+EP$%"P(NTJW&0WBWG4]F5&5X^+KL`+<K:^)TO'W,S98R9<4;-Q
M)(I8IFO,DC<W8HY9%9KS3C#I.*RJX[-\/!:/W4``!`@O:`M7%]K2W'4.J,HB
MR2Y6)K(S67NH"Y6T^59(75-A.`Z\].SJ$_7"E%$9S++4L[%I,4!LC)I36T5&
M)Y*.((I</'((Y:^D^Z)5EH#:=,>Q*M`@0SI_!3E+&)T7%(V>'@&(=HHH=\M$
M`5:-CK2/GEQ7DIKJ819=3UD3O6$,+B#@M)Z:*"$BZRZ.['QZ_P"#)3DA+:F3
M_:$MQ>M2`Z2TNN5V+9R,$7AN-[6*1&\";4D`I@LV=&QS=+N@P1SQ!`/8`!*(
MPO=X>`=@RS:\.3E!^U^T<JL1K-.48YVY4HD>Q@PIO7)GN>(Y$C2+&_#*DEJY
M(T@JP+GC)?:[.2E,F,G#74R"IDH!9$A0AP1\`PL?G#[VB/OJ:G[%:HPHY?TF
MO3=0X3D0L_G.1,C-*88LC!)B!#72J2WACI9'SD%@YYJ`):XHR$$/8^4R,G.=
MAD%!D+AUS3(#%4<D"-$".5]=@?9PNG,M9V9>+W+1KL5*\JZ[/>/G,TG0GLMN
M)S>26P+%*VIEA41,(X(9U3MD3+W&-G!,0N5S:$[6!CR"G0^L,F+DX=2WX&B,
M;"1759'99#8IO0L?C)*&0D="Q'24@\^F.O=^;)XES"*&L9G"&0Q@7/#$/MEC
M4C9YYDHY/QC`$2PN*"OHTIJ[90MD'8K&8]D9)V:AB5G8D(2LI1\9:Y)OR,R&
M*I!VS:Z2A#`FQ[DQQ;$#)H,8-D6J46/2)&9)J(^2R06477LOLU*R/BBJPBP7
MR:4NS:])':ES8XJ<FY%5<-#<@(9PO;`3``SAGC@*+AS<[AD]0*!0<;_\4Q0=
M#W"?_9B\/O\`4YUU_"ML4&P*@4"@4"@4"@Q;W/V'-ZLZYO:9$IO%'4XD]9C5
MBLY"4S@R<B&WW,LI,N&V(*Y%`N&*9(M5/=[^)&504*W38IX(W1_VG-H/@<,F
M/Z!UQLX2\\6Y)"/**JUXSBEN,IB"-21W/.2F7=CC5V\0#5'J<:%VGFQ6P:5`
M<CAHF*EEDH[F:.&<<@KX!"Q3B?0$K^+@C:9DXNDJOVB4L<-HL?D;!M-?F:;9
M(UK:C1=8"JYDL^0<Y#8"*U9IJI<`$S@FJ.&`PN=D_I#@8?$+Q2X"+E4A3'8<
M]!(MVXV';(*[:/DL9)A9ON&<7[KHI*4HF2SL'S)EV/*T;JI-;NCX+-BI(&Z@
M%TY#`4R$%WJ?$5AE+<2LSA67,9EY)COB%F!M$HT43-Q'%*<W;*3&CD<9.'=9
M?)M!*;HA]7`,@+>26?3P<BIDR7"+&<!J"N1COS#LLG6NF-AN2854WM&\?R<T
MDY?0$)'-N%(>LGGH@7D=*P&=.>)MRQ"]R%PG>7PRN$EEARQD(4T`:+YB!7%"
M:9``WW:FN8(S=QC)7U.?,XG[9HIK-V7>#9EEA1\0)EUVRQB0!;XJ6[QAQ0;D
M,S&1D$.^(^.'/PR"-7;O:SHC=$N(;P392D8^@3:^8X;K88<7(Q`^@YQUJBR-
MG7`@]]E>0P$YW%S3#/'5<FL#9)-AS!BZ78M80M@,9#XT_?V/I)/1T785Y':)
ME4GB,(^-(;JBU..GY`09=@)U3=&PJ48$?B878[>?K>*`&"ZP=N(?3SA+,@=3
M"^0]Q@0^6.^)Q"CN9,,NIS-61&8>E)@QA(CH20D8J\R<)-Z7VZY'4R5255UJ
M'3Y9(;YE#:XY@XJ`!F"22`*`,HYDP1K9V"_-9]HU_8*=9P0BZ*?1HD0(5U0E
MF),U]O%$9S+*5/`$UGCJZ=,$70OXF4E536(F"DRQDLF**>)D8!-%[9\E[!G-
M0*!0*!0*!0*#C?\`XIB@Z'N$_P#LQ>'W^ISKK^%;8H-@5`H%`H%`H%!'\JQ7
M'LWQT\(EE9K)SUCM^HAIO.ML*ES(9543#7-ROC@:(CE%%./%1P\!RIPJ,`<)
M&@@QRXH8P>&>(0HI:?1DX6RV4%X.267RJ,5YM&0(^?KPDIP+<@L-VL7$^`VE
MAM.083#,$V"GJYTF>$,!&!%LB>,%U/(X$+GC<*&5T.UR3S)<REMUQI.1<6'#
M=PDUZN8H7,J<%3<[-CV$LG@,%#F'5F\UOE77U4R)SA5HV?%Q.W'"O8.P1$V^
M'<R6_.2^XL#QX>!E2(T%H"1F:=[H4CKD>@>R$O;(ND^^N^6`Y9>:"J\)2R$+
MD>ZL;!8A#E<\,R!C(O8/8CZ/Z8QJ[6R8S>CI).%&78_/-1$=>P[J.]S&XBDI
M^29'2001%UT"9'2;->$NJ]@0,\!LQ@5&P)FXW+C>@K$4ZYQ<R)OCI"2%R(CC
M/UD;3Z3]?FJ$XUUR3ZUW;+XYI1FD9[KBVZCUQVX9)=!W"0")<^UA.D'SQ[E+
M6H)3DJ(8$=4XEY(7I-665-A:)U>("N37F(PRUP&-W0OIKM4B)9NEE4'N<T?7
M$,H9#4PR^)\*Y;&P(^&/.M<*8;T9UX6%`PO9$'@**J.-=>EQ"\CN[,H*MNO7
M1-U74U$'_P#;"6$P,P<EETS#ERRQQ&P[NM_\W+(QD'ZW-$=>6JL-A<1TEX!'
MV@ZH9>2'D/(#M-`@KL!Q<HPW&PQ@N.J9A'"J;'ZJ.3-`"VR"4!,^G,8B#XXB
M6"WV)P[M;HY/M@TUR\G`)[?B\C"RLUCTO2&I,N2(M;V3G#8;,E=HG5X5!D1+
MC5->*@GH5U$`48HF#V*"9C%PPP\0O_6_3F'-5Q5,6*Q)$%R46'',6AV?<G/:
M0\4F.(A&=^48,U&L[EA4N02F43?!\H4SM?(T(5RPP'&&N'CE0944"@4"@4"@
M4"@XW_XIB@Z'N$_^S%X??ZG.NOX5MB@V!4"@4"@4"@4"@4"@H3H$70FRXA6L
M$6'<P:$KB-T`Y>V)09=P3S&20$:RROCC8L(H6#MG>][6YM[T'/>#KLZ]JV3P
MTF<J%7$1+2)PS]P8UV+EQ5BL_(EF;*D]H&I@,A%7*K*G0-QMRZO/AMN\P7NJ
MC#6"5DHQ80J-S;!Y!;ZMK/(3&VU=3KSBV6WEK3$._&HKQ4EQ$CUW*.P:V6C3
M1:`H5CN=&Q(&1(=4F")FO*B$H),GIB&1S5SI"YHY<T(G@J"<>#.;2ALE4%CN
M*%=F(@>+CV+3MMIEEAQN];BEQ*C=D$ZI;".J2(3GEK2J.DY,[)O(<8G6Z5*!
M9J@"@W\4KO%D4PS+!EA0R,T'-NXQ#K]`<'29-5)V?VM0H8%%RRSZ2#T:?W\G
MQN$2SSRRRS;J<E`9%$7*U[AW0RY.X=[A<R]PS;H%`H%`H%`H%`H%`H.-_P#B
MF*#<#P]=KV/"6B.G4/2=%>WS7D:+]:(683Z;8VC>X:@*@NUJQ^@HJ^D"'TB$
M5!*.9IZF3%"N*7'&!$YO.PSRQO:]!F'\P"#?(C;KL'[J>P6@?,`@WR(VZ[!^
MZGL%H'S`(-\B-NNP?NI[!:!\P"#?(C;KL'[J>P6@?,`@WR(VZ[!^ZGL%H'S`
M(-\B-NNP?NI[!:!\P"#?(C;KL'[J>P6@?,`@WR(VZ[!^ZGL%H'S`(-\B-NNP
M?NI[!:!\P"#?(C;KL'[J>P6@?,`@WR(VZ[!^ZGL%H/@3]Z]>DFQO%+CC:Y.P
M/J!M5.X$M!]SBV!I3/B=*?4!\`8#PP$.'AN4082]N>*)>^>5[Y7O>X4I4XF.
ML2(X6JTEA,V?3'0^<UP-G-\]I#N256'/FVDSORX,4)/&@K`RIW1DJ]C!GHL<
MNA"O;++DM]-!7Q]^8(-`#%C#$VX%`,!"`#A9Z'[J7Q$!&PN&('E;S#6_)SPR
MO:_]%Z#UDM\X!3291.3H]VQ()Y`L`2(D26A&YY4F2)E0L0"Q0H5`@,,`L6+@
MX8X!AX8VQPQM:UK6M:@^GY@$&^1&W78/W4]@M`^8!!OD1MUV#]U/8+0/F`0;
MY$;==@_=3V"T#Y@$&^1&W78/W4]@M`^8!!OD1MUV#]U/8+0/F`0;Y$;==@_=
M3V"T#Y@$&^1&W78/W4]@M`^8!!OD1MUV#]U/8+0/F`0;Y$;==@_=3V"T#Y@$
M&^1&W78/W4]@M`]_^#?(C;KL'[J>P6@YLNY)'ZN6W?[>GWW_`-$38_\`1@])
M7YM/Z_\`T;_'?^3H.RF@4"@4"@4"@4"@4"@4"@U[;(WO[]W#;MR_1=1VXY;?
MS\D%`_70;":!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*#7MLC^G=PV
MO\QVY_`H&@SJ=+K:[&;JP[WJY$%H--O$1E-?<[H5T]`;R&FE[6N.H*ZTJF"B
M<FD@;7_+%&$PPQ_EO04Y4D%B(;@;[367BV4ISNS'/-LM]06TXFLK^&%^2^22
MG#F,#1[&^7Y.-P\<N=E^3;EO]%!;QZ;X:3"+P4U&58\(IT?'RR6^3QMX(`!5
MI*1P\,E%"#@'$/XAI9LTKE1B888U\<LS@`H%K7&"$PQ"]RCD;Q\Z43B*XD'3
MY]%#<A(F342ADP;;PXH8`"X7"`%SS&2#`PV.(9C&UP1,K\F.5_IH*U0*!0*!
M0*!0*!0*!0*!0*!0*!0*!0*!0*!0:]MD?T[N&U_F.W/X%`T$M;W,]QR%I5M>
MP6<VE!XN][Z]2XT6HU4HJ"<4G`Y7&QUI'04HD`9$!+=T'%4X%ACF+F&$%R\_
M//''&^5@PEV"UTF][S;(JBUT9PF2$Y)O"_$8+V#P+`DXAQU%VN=<T367<7=A
MXL=;IJS.6P5!+#Q"OWY4Q\R7]<*_($%0KHI(YP*/DN:&O(;?2M;=87(PG`NL
M@^C7=\L;!).S.<O,U_1]94"5T9TAB(:(HJ.(ZJ6R+7'?0I82V!L([8L&7,*,
MW9&"9UB2+T&,$KS'J,;QXBO-SX7&7@&8V&='DQ)*4Q$Y\'5@(^7!A<\UH^0D
MDCF2%R<V;J<"Z)?$;I[%`VBT"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4'/C
MOWQ4M`]=>(_IS'TU;$([`>D#G)S'E1O*C)D\V=;($MP<F`QP.%DD,A1+N`!V
M#J((9;-,S.X]+E?#.^&>.=L0Z!RQ@,V6+F@;"V!,@!&`K#`#%AK!C!XB86%+
M&0PC!<7FY6YV`F&.>%_HRM:]KVH/?0*!0*!0*!0*!0*!0*!0:O8*W.W&V(A6
M)YZC_1%G!L69H[9\GL\-P;@-].70VT^$$BXT7!93R<,*94BJ8IR@'8<'`P-B
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M^;_\VW_7/][_`,G09Q<)_P#9B\/O]3G77\*VQ0;`J!08X[:;&HFID!O:?7*@
MJ+@;K&,-'!=#(]VADT))=#U;K/4'NZU!.2EX\AQ]'Y5?R6W&I!$3N::A)YLU
M8`7HN9<(%4>("QF.XH=!E["/&-&\P,&<)!0YF2);3'S'1Q`BAW0N@MIPM]:1
M&Z$16F;)"!,@*Q@JB#E0T@N0&L:PN'RCX!D*Z]K=<6.KN5!=TQ,A`5&@FKRL
MXRZBJ=%@FD6G9#S=^61NP>1,P89P#F3QE@`$00=)+G`13>`(6>.=P_7+M;KD
MS4]T*KIF%E(1!D+CQ;SR,**E<"S548\((BH_,W"'<*XJ.E,Q+<R:95%`QB&0
M(%U`L(,-A@.%EF'@+MAK<7Q,YFYF8I$,D-(I8Z,H*^">`2,1*B)3ED@`Z8.X
M``E!F>W5PH>.8B98WQ*&,!<>=A?G4%O+.[FIK<+IIEP3PP$+%4%<X(!=84AD
MQ0*YLAZ(<=O;OREG2P*DW\&6]'*GIZQD?"+8I8IP*YJX6&5LZ"2$J?(97)%M
M$J1([84)'S"=8Y=I%C]A%,\$PU$BC/O-,Y,.YE7Q'6E,L16;%A!;I1XP$7-=
M$,)AA<,/\M_Q4UX3)$KMBI/9TVP]+B*@&H^69'SN5<.N"TW\GN'MZF.$JQ1L
MO-238Z0NYF0L"0XI9P-\RA"C8*`A?$4,E_>SUM[M2D^\RLBQI;5V:@I5KJ=[
M`GE>1&"?E%A$03=PK%.E>3!2S*FF7OG;$Z`!G8*^0F-\*"S!MSX105=W7?,F
M1:VFLGJ<=)#,.!/%44'FX5*0HM4I82T=P,$=HIB@V7&JM5$.GT=.+F%4TJIA
M;(QS`,_["@JLK;8QZPH]A%\L[,O*^>S3_CR-=?2;55RN"/(K@DI&5':BJN+G
MZ$\33&:F,!O*CA4%#$$SF&E)HUP`#!BX)<4(KE/=DUKQ(+!:^QK!;,8L9ZJ\
MC%;RV#)8B^V"R%'T2%9--.,LD^(Z6NBE\CF)]+.`&<"@I'N"YRW3EA.<&$ZN
MK;#6MD'U!-=TVQVWC*8S7%(!S-3<9(N2Q:#0;2:]'4L`*>6?>T[@W&6LE%DZ
M"",(8+)!D(Z('B6SQ%N%C&-Y-95(H["+'FV*5YZM]NRBJEF\N.T=KIMU.)VS
M@ZG2FN-;R154=N%TE"-EE0V)8F:-8((W?0`L9*6MGD%UX[8P&E$D#!Z2Y&39
M6U5BW?)L#%W!FFZ`0(,5.D=?LFNH^01B:E@E,E2#6L0Q`RI\5#$#4,BH9?/G
M6"@%MLV8X9EA&,6"$GO5!EXCL(&H/,DM#$#;%=FOAIDD'"S%MH'D7!2#61C[
ML%`-!&1B1E.%)\W,`2PULL`LT/>R+F[*NQ,=2^:0(F38-DQE1:@.A9<XBF+*
MSB>.OZ3L9D4;;;*H`"B`J(S&/F;YD0A#QDQ=.,"!6YF-N4*E+V[\31W>"@FB
MKMR4#4YR/`S61P&XY!,\";%GU2-%FG)9<VE(B^14"!].(CGDPH,*1R62I8?(
MJ-E<'+&X24!MEKB:22JX2EYI*"<H-./WVEYII@TI&5IH2HG.U8CUP(2<1*&%
M%=3W4DL%<,ELB80U^YT<Z)G;'`J-?`+$SWXU,*&G*46)@1VX(V91'AK*[D35
MY$LXI"*L9LR,;165@?2PAWC8LTG65-Y#)V!@+HK""6RN%CTEPF^.)LBJ72"&
MJQH]T=YICD;0CP1%!%N:')J#;"73S9$5`C&9<,+`/%>3#)7F9WQ%Z4`2W-Y,
M,KV"4Z!0*#C?_BF*#H>X3_[,7A]_J<ZZ_A6V*#8%0*"QY#;3C=C;R26J\16,
ML65V^HX+>*(1<98P125P@I*S>5$10&+`'T5U)189-.8XB@CX%S6>8(@8V.&>
M(:T"G"A8Z(S7XRF=)8[$1)#8.\C*46ZTF&EIK&:.6])^,#KW$B]EY+HQ!B-I
MG"186'3D4(4<H.?4CYHQEEF8YN`5-^<+)ER(W'ZS%V6719K+KXV=EF/RY9OI
M??F-95VQ8SD:4F+`:T8/&+NIGD5-]N%42D0T"'W.(JV`'-F`2A2P00-.>AT^
MDG*4--9959CRE)V;"NJ7W4DQ]$Q9-P!G-GP`Q7)$J]';NG2'3YN$'<G1+F:/
M]QN17/\`2`EP3!(WD&";#":ECANO]SKSD>^>S:M'KG=9V9WT&39,=()XNR94
MV&A5F1G(ZHB+S@53"FL-E+<+0LIHQ44,L:`*F12@ID3/H30`?%CPL+C-R76\
M?V`/9!2VP]MF.;S2HN1$H!NA[@.J%GD^E%**Y.8\(:R;JS#F&*:&:%&RS+J(
MF)L0P*'8;,*IJ_`NQ3%VED!^.]K%D)AG7UL8?3PEQ!8)Y&2FQ,TBW?R@+"SP
M9LV*CF*F)&=#<05IR$UUAHN0IH$:XADP9#P,&@R@?6I"'(&QR[/ZP[39?!QZ
MGO/4Q2:9%`30C5FJ]GD3>*DXRCO$&%40%,N:)8A`EK@9E+6O?/+'+/DO8,6D
M'A<E!HVD&*Y/G96D1K2>T8+:3IP)1XC,@^6#UOC@VS(B7FJJ)*\=4VVY6XZR
M:(ZKG`QA,\EA&QP#Z(H/F!B$E)VASASE%MS"[M@%-WOA*D>!I17SXT;H",7=
M;GA&!I(@P88T12UD,JE`OD&2C2P;P*XX!DSH.`1?'$"]\+!6#&A2()J[K-`!
M23W"F/745=C1[PC-A%`2+*Z-($7)*NVDM<66<8&,(:TBN=FN)41%Q,N*%B<3
M%0SB`,4'N"8`"N2_J$ZYT&8RM(,U\KB9K?GAOW';4<$$=`'+3A$2C$HMTI%/
M.A;4TO!M%E052QL84E`4X;OS,A`P+8AXA`:9PNRB2V9S8A>:@3+,FV'%R/Q+
M*L*1\IOUAOAWP`@:[O1\LN2C`WC(0;+@;"#92LV\N=B753(V.)^Z;E9/L%]/
M#AYV>"\ZEXS-"H3'=4G2=*!D$!D)HH993DK2=(TG&3@<QEW(3,FAM9(Q6P,\
MKW%S4,[@97[GY,:#XF_P_P!_LIMS$R&%MB\&HS)>8#;)B$08R9*DOLR9F[!S
M`@7.46FZ5`P*>(ME>:\:)APXV>CYV*ED9S*J98$?("P5Z"=!+PQ);/DHQ+P[
MG,M20]G)#[QEF`EME*.'=H"\>"N1+!S`7E4X4(ME<8F9DB)F(8,C`GKA&1!1
M`^Z!`K!O1L0?89S[`@2X>+'7%LBR]C\&OXF$!":<LLG4ES:C$6P&JXKH1PPE
M'&NX[JXH]\,3%E(&V&%\0,KAV"#&+PL1XZ4XVQ;6R3GLT&E;2A4=[44X[;2A
MD\'EH^DI338[B1EK-6#,,<D^V0@D22\FA!'@.ZRF!PED4S$,AF`\$;A7!DF,
M)'S@G/!ZM\K$4$0>V@UV*""<H-)G:X'YP.12Z&XXVB]FR\F],;?SF;$R&Z4I
M33C(2DD!C`@A`&1REPF-F:)J#$EQNROC-KG>8+1FM5GDHWG(U4(5P.)V+VI2
M5JNYB[A>A=13@S@S@)I/?_NG`B6N"HCYA7MD7O029IQ#9V,VQ([P6V.OQ6O3
MA*+HE<U#[@>#=?&<.A.DUDL*C#25MH&#S5Q3%1_J:^[!BR>:.$RRLZ3N`(X@
M5L.:&8=`H%!QO_Q3%!T/<)_]F+P^_P!3G77\*VQ0;`J!0*!0*!0*#!_B/2[(
MD%:9S!)\7J`Z`Y4$2.B"D\RR:"KF(TC]URJQVA+$M`IYHN;)"B1+%J\L.3',
MP",5`NE]*.'F#@)A<+0DN1VMK<X8@-QS(CA?![8M[Q7KX@IK\EAQ2)&+05'6
MG2(\V],K@,*BPM+I8=Z%VT,AEKECI8NX5<REE0\@L\LQJ#&)#XFTVNS-L9(\
M+Q2A<\[K(W7:0=4BNG`X*X-@MSYST@&4V:93F:*646.G/6)"[K1SYC'`5<;9
M_$*P0!C/`3$/@*\3N>U)-LKHT+1`MEX^8[8>DMI)"1W3XRN>P6XDT:C/Q&A-
M+S:>0"FK9'HFLMH(*H.'F;&.A)(]@QA<3>`7"#Q.WNN.\-E,QIPDYCCE>NKZ
M.R7&4D9<$:9MM[)RQL/$X:F`8`0A%MT69YZ#RYVQO`DE%E6RF(`#@'@`"<-A
M(4&;\RA*JMK\CKL;,INY[+QD$O1@J(ZLX'`BGI'BB4#[0VD:)T]<J1Q(I[68
M0`#G:P@U@C"J7$-%QL,!2.=Q@DQR/]42.)XSV8I2"KI,>XZ%2E(ZDRSCO-I[
M)NYT2=XL;A5[J#>&/@I&2FE-Q;.E;'!`^0,`?+EORVQRQ#'E][T/./GA+Z7$
MC58+I-+&P\GME,7'],<B+39-)K#X<T>;?(+B04;).5@VFCN%+#LF#(R-W*FA
M"B9*^'3&#AJV8?"T]]GG+BY$J2Z&"UVZMJ6R>M*:V,V;,#\))1)L[+:C/6;V
M9D\":43;=Y$4&L:P&3U%%.XXH2ICT"B%@&9+`AAA0(3XG\HNUBPV,KLJ-9!=
MY;72`]@M@@VR\49FJJFTIK:L@KI]3@ECK#@4W`\51CJ3'[W9)`()W-55,QR.
M)@F8`QZ<)KT)V.<VR,ZSB_%!Z-M89KYU8T+FA@LIF/M5=[68Y*7B6QBLI`@%
MCQH1/).$V`DD2RF<(@$P%3O>`-D`%G:^%@VJ4"@4"@4"@4"@XW_XIB@Z'N$_
M^S%X??ZG.NOX5MB@V!4"@4"@4"@4'J'``-`#%C((1@L8"$`,%QP\!0!P!<+A
MB@C!"6R#%"%#ROCECE:]LK7Y+T$<)<+0XB-8\QD6)HS2&2J&2QQ39R6Q&LGM
M91.$C!<V3-'F^42@4DV9*&B@0H0@@.608@6&6-[7QM>P5,>,(U-#`F34>,8R
M8+EFX3+CCM)`&&`)L\YDH-$H"*(GY9A%FL?SN.G!XWMB1&O?,&V&5^6@B=*U
M2AI&G,>?"+93`7/YNT".4EOX-QFA-%L$T!]O&1L'*UR8#9"6$9X*SH?1\8^<
M#/<PU_999!6%#Z2X0"\)OT`AI11EA49+$2[+[;E^94IY,Z`QG$FFFA`3E1U2
M8I1Q<#,92I>R2PW1(!=0,J/.YY@8^(=*W'QN*-8*`R9^TS09]'$0I8=!7"[G
MC;7E@L_Q3,IFM#+DV8V0DS(T$Z,%M`8*<U0GG/K'=R4HAGS*T=*J/=`!0EF7
M-FQBQH)C=$I:HOURJ1A<8*;*HR*];0$J2`'"9R0VVGOTTXR[;-1:.]L6NJD\
M;DW>=#3E&]AKHZ<K7R*'#`!L,4+`)I;#7@F1D8B^FTS(V<J6X!#ZB`NAL]`%
M&-'A4H1D+=SN1E+P/%UD%()"(I\$QC@:!"`S(CXXV#R"Q"XRL41:1,$S9*-6
M`3-)YU"4B!DJSFZ7,$5%KIHB,V3Y,8%.P$+'6ZCBY%"(N%\<RA;*X05\,+WQ
MH/B385AM&5&FN)$2QFE+;""7P&,L)K#:Q%49@#K-&#SI!::@52@C;="<ITV*
M,H8D\P;'!1<\QN?EE>]PJ#,BN,(X$4A8\CAAL,59RYZN(S&@WFN(JY]VGU+G
MJ6:&G$<CV7?%5-&.46^5^G,BY_UA,[W"_*!0*!0*!0*!0<;_`/%,4'0]PG_V
M8O#[_4YUU_"ML4&P*@4"@4"@4"@4"@4%"="6=7&RXD5-4QD516$)72R"R7M>
MXZ2=4$\P4*J8%K7QO<8@.-B+C]-ORL+4&FV.-)W;*;8X=S0EIHW`C;771N;]
M0=FVO9^NEDN%8=ST;.M;*4T<@"U;)YUU1XY<(15LS1BRH6#/)ZL2'#L/@)G?
M`/4M\/\`F=$V9?&PT>($<&6TU-KX/E6*=?G(\E`&(GC$S+U2B'6E6-FFL6:Y
MI$C">8>4&`87X^62Y=0!!"QLGF,B^!RYA/#*73Z(YSU49*KKXL-=GN6+V[+T
MU2*SIK$?`MU(W'4NS(]YP,)3W9(J%BJVD]K'GV:2<QRID=+4\2H:ED8`%%$(
M8!)>DD=O"/HPD,P\`SZ?E)VS&STV-5N*>&8)YK,.79O>KW9B8<)B999II]10
ME8)5-$\K8YDS:B*!GCB('E:P9B4"@4"@4"@4"@4"@4'&_P#Q3%!N&X8+JW&+
M<.+1,NU('UG66R!J7`(2`KN';.4VRNJ:0'&3;Q3SZPW4[2QVIZ$I&RUL<QB@
M*HHA%Q,KX8F1K8V$R#.KQQWFZNNI_;/E_P"`N@>..\W5UU/[9\O_``%T#QQW
MFZNNI_;/E_X"Z!XX[S=774_MGR_\!=`\<=YNKKJ?VSY?^`N@>..\W5UU/[9\
MO_`70/''>;JZZG]L^7_@+H'CCO-U==3^V?+_`,!=`\<=YNKKJ?VSY?\`@+H'
MCCO-U==3^V?+_P`!=`\<=YNKKJ?VSY?^`N@>..\W5UU/[9\O_`70/''>;JZZ
MG]L^7_@+H'CCO-U==3^V?+_P%T#QQWFZNNI_;/E_X"Z!XX[S=774_MGR_P#`
M70/''>;JZZG]L^7_`("Z!XX[S=774_MGR_\``70/''>;JZZG]L^7_@+H'CCO
M-U==3^V?+_P%T#QQWFZNNI_;/E_X"Z!XX[S=774_MGR_\!=`\<=YNKKJ?VSY
M?^`N@>..\W5UU/[9\O\`P%T#QQWFZNNI_;/E_P"`N@>..\W5UU/[9\O_``%T
D')OWYG3T;Q)_Y*'?7\]CR_._Y!?F`_-I_P!W?XK_`-MT'__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>pg28.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 pg28.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@!T0)_`P$1``(1`0,1`?_$`/<```$#!0$!`0``````
M```````&!P@"`P0%"0$*"P$!``(#`0$!`0````````````0%`0(#!@<("1``
M`00!`P,"!`($!@@."00C`0(#!`4&`!$'(1((,1-!(A0)415A,B,6<8&10A<8
MH5(S)#34E;;PL<%B<K-TU7:7.%@96=&"0[0E-757.>&2HK+"TE.%)I8G-_%S
MD]-$A$6U5M9W*`ICPU7%1F:&9X>G2&@I>!$``0,"!`,&`P8$!0,"!0,%`0`"
M`Q$$(3$2!4%1$V%Q(C(4!H&1H?"QP=$C,^%"%0=28G(D-/'B%I)#@L+24PBB
MLC5$5"4F%__:``P#`0`"$0,1`#\`^\LA825$D)`*BI1V``!)))(```T14)7W
MA2D+"DI"2HI4%`!20M/4$^J5`_P:(O$N!8W2HD?B"=$56Y_$_P`IT18+LYJ.
MEQXLN#V0ISN.Q'[/=6Y!(3MT_@T6S?,%%B!Y3XD[RQS?Q+85-W03.#&^,$W.
M0SS%F0+1OD>!96L8PE,HD%EJ*A+@<W1Z#X;:RH]QY5M.(O+W@CG?D+/>,^*\
MPCY?D7&T<3,X89K[)NMIHZ+.VHQ0F;+@Q(Z[1N13K6XTT5EL;=VVXT)JH]D:
MZ_\`4I+L.A#26UN`+;W0KY2VGI\R?;!_6;"%``_';6%.64%$@$*)!Z@[GT.B
M(W/XG^4Z(C<_B?Y3HB-S^)_E.B(W/XG^4Z(J5H6X@I2Z&R>H<4L!*"D]W<HD
M_JC;K^(T11QRSR/P["^?Z/@*X@2XEI=\-9ES3!OVT);JF:K!KNJJ[VI=BNH?
M6)[[UFAX*"=^P=#Z#1$CL0\Z?&;.^8XW!.$\B'+>0I$&QMXT&DJ+]5*VU2RW
M8SL*9DGT3-,U;P5-E+D52N\)V4>AT12Z:64LH6X\5%P%XJ6$-'=Y1=(*$$I'
M:5[=/7UT17]S^)_E.B(W/XG^4Z(C<['J?3\3KO\`_P!*?]2*GZA2-TA*B!\>
MOQV/^KJ%M>,I!RJB]62$_-O\X.R=^JNX>B1OZG?72:[;9N(=2I*+`;>9408R
M'%.=G>`D*4?;*NW<C?INH;==CK8/ZS>L,BB9CR!YRJ^`.*[_`)2OZ2WR&HHG
MJZ/,J:0!-B^+&8W$2MMWNV:3&4KO<!Z]H_1HB;+E;S@\=>&./&.4.1<M?@T3
MT&-;Q9$2EL+MIU+E0S:Q7W)M57S%L-M_4I27B=NX'8;:T,K6FA**2F'Y519Y
MB^.9?C-B+/&\DI:B^I+%*G>R956\9F96R0I]#+A,AAY)^9(5N>H!UD3@X`XI
M1*\+[OU5;_P$ZV1>E6P))5L/4]=A^&_KHI$$@C!!XHW.V^YV(WWZ[;'XC<?H
MT5==7+0:A4^X-U#N_43W*&Y^5'P4?P&B[L-6`]B$N!>X2O?;UZ^G\/X:+9>J
M7V[=RMM_3YO^P=$5M:W]P65'M0A3SB7`%-NK2MM$9M!)!;=!=6HJ]`$]?31%
M&7B?RBXUY&XX<Y'DR'<0KH=YE.-3*^XDO+7%7CF8Y)BH??FI(CJ9LG,?<DM*
M!V]I8_#1%L/'WR?XA\F8N66/$N4_O)'P/*9^%7SQKY\66B]9<$]9CIL*V.IZ
MJGUY#B'6U=JFQW`^AT12.[COMN=_PZCTZ:(O=S^)_E.B(W/XG^4Z(C<_B?Y3
MHB-S^)_E.B(W/XG^4Z(L-]\L.!0)*CL$I'4D_AM^/31%&[,_)_`L&Y]P;@3(
M&9\;)>0<,N,NI+=QWV*N4W42O9E4,6+#]QZ7:AP%>RAU'4Z(F>O_`+DOA_C_
M`#+@?`B.0I]MR;G61)QZFK,>P[,+B)7Y"\LM&'>VM72MUM8_&>4!LXXD=^PZ
MZ(IZL+W<=)"RLLP@EQ2BXM32&EH[END]_P"V=25!*NH&B+)W/XG^4Z(C<_B?
MY3HB-S^)_E.B(W/XG^4Z(C<_B?Y3HB]W5^/_`++_`-71$Q7.?-M9P53XI>6E
M#:7\?(<RI,52BN^DDNQ9.1R4169TJ9()<<B-E74-(4OX`:(FIY6\X_&_A/$,
MJSO.\TF,T&'5-?-R1JFQ^^GW"H-K9&/7.5%%7U+SENX7I;:MVQ_<PI6W31%*
M##,LH,SQ/'LPQJ2'L?R7'ZS)*J2J,NO<E5EHPB0Q.?@/L1Y,)YU#J0XAP;I7
MTZ>FB)5GN&VY(W`(Z^H(W!_C!T1>;G\3_*=$1N?Q/\IT1&Y_$_RG1$;G\3_*
M=$1W'\3_`"G1%C/NME2R5DH;;"W.P%12VOY0H^G:E1Z=W\WU^&B*)G#WF#QK
MRUQW0\AOM3<';F93=X@Q1VJ1,E*FUF47.,07),U+,@0X-B[1J=[]A\A'7;1%
MON!/+O@[R8ON2J+A[+IF077%-ZK%<VB2J>\HUL6CRRS$DIDV<.'#LH*7T.!M
MUD*0XV$D$C1%)Q"R4@A6_38D)#8*D_*LA"20D%0.B*K<_B?Y3HB-S^)_E.B(
MW/XG^4Z(C<_B?Y3HB.X_B?Y=$6)-?##14IQ:5)[7?V:E*6$-J"E.>TC<O)0!
MN4^AT10]B>9^#'R2Y=\?+>IL,>?XHPG&,[DYO.1&?I[^/ELD-2&X4&`HS$NP
M8`[U=P"NU7=U&B+)A>;?CS9<T8;X_5F="VY4SQF9:8_C/Y5D4V4TS"AJLGQ=
MRW*MZ#052X`]R.MQWYE]/T:@R_N%%+2//8)5NTZ@J5MW*)^514?UE;('0GKT
M`_1K6-U)`X\TXK.4Z$`%2PD*ZC=0&X_1UU-Z[>:(2X'-^Q85MZ[*'3?T^/Z-
M;!X?DBJW/XG^7647G?T)[N@/:3OT"OPW_'1%X7`"`5@$G8#NZD_H&_71%A2I
M,3VFO?)=C/+CAQ271[`CR9,9CW'VQ\SS:_?';Z;>NB)F>-N;8/(6>\YX#75D
MV)<<*91CN,VED^X#!M+'(L3HLN5(AM>GTS,>]2V4;]%-*&B)X+!#Y8?D^ZI*
MH\>0\AM*MDJ6VRM:$DE*@$]Z1OT.B+C'P;X[>5WD!@"N59WG7RMB#V39IG4B
M%C]!#B?EU!&B9190(,",HICK?8B5\5M(W(!._31$\B/!3RH'=[GW&^<G5$]7
M/RV(C<?#Y4S=AMHBN?U%O*7_`*Q?G+_)\7_'=$5E'@AY1%U)>^XKSDXS[B2Z
MU^559[V^X%:/F?(/<GIUWT66FAJFO?\`M.YG+O,XRZQ\U><I.7<ER\:=SB_;
ME*AR+6-BD1<.E82S"FM-($1N0X!N-B#HN4K"\4:EG3?;GYSQ549C"///F/&J
ML2'9=G#9H:-<NR=ENOR)R)-J%IF24/R)"E;N*5U`_$Z+C;0OAU:Z8E*!WP-\
MF@H)C?<6YV2RE("0NN@A0]20>R7VD#?8?H&BE*H>"OE(`!_TB_.70`?X!%^'
M_P!.Z(O?ZBWE+_UB_.7^3XO^.Z(C^HMY2_\`6+\Y?Y/B_P".Z(C^HMY2_P#6
M+\Y?Y/B_X[HB/ZBOE*>G_2,<Y?Y/B_ZLW;1%9C^"'E(P\VX?N,\Z/)2H!;;M
M55E"FU_(YN!)ZE+:B0/B0-$379;]JGE?-<\K>2<D\[.:K;+*K`+7C5FP]INK
M4]BV1VD:VO8JU5\L.A;LFNC[!1*%`'<;@:(E33?;/Y@Q1343!_.SF+"ZL6*K
M1P5%/4JL%R5]ID>[-6M#SZ9@2$N=Q.X'7?1$HV_`GR?05+5]QOGA:UN.K[#5
M5(0A*W5J0A(2_P!H"&R!Z:(LO^HMY2_]8OSE_D^+_J3`-$1_46\I?^L7YR_R
M?%_QW1$?U%O*7K__`+%^<O3_`/-\7_'=9?.QD!B-=1-46.OP4\I.\D_<;YM3
MOMT5`BA0Z#U_OL_AJ)8RMMY-4E:=B+49#X5>3]-0VU@K[C'.CXCULYY*50:J
M.'7&8SK@::D&2/:4HIV"B1MZ[Z\?[OWB".=HCUT[OXK9C2\@#-1)Y'XA\M7K
MZFXCX1\_N9[_`,BLNP2NY!<DVT)JMP'!\+LK!52SGF=>]+:3.A6;L-^&S$86
M)#DAON';MN?3;/>Q2[4T^+54+J^VDCCZKJ::T4B,Q^V=Y!<JX"SA>??<+YSO
M:RW?QR9D'T\&MAL.+JTA<^&SL^I3[2II6MIS8.J:4D+4KM!U.Z[.U<%EU'VO
M>3L9A0:O'O.7FN)"AMQ"N#81*^]KW76:]-2E<F#</R8LB.U7(*0R$I2I6J_<
MC+;0^N=_QSE3S8=G\46+@/B-Y)Y,_EM2Q]P3F^M1BF;WV-4\>#1PHL;Z>LA5
MKK!D1E2G(D&(EY+A:2R`A(V"0!Z0=LOOZD\&"H`/\V'YHG&8\$?*=M.RON+\
MX]/PKXO^G]8/PUZAT;FYD(O'O!/RF(0M/W%.<G"@D]AJJQU*MQMLKZER2!O^
M@#7*M2L&.1[:LIAS*;;(_%WR,Q*6_#G?<*\G!)=@+ELOP<2@NTWO!9;;A&>P
M6HJ9[ROU&SLH@=2!K*\]>1RM)J4LJSP>\JY-)&<F_<6YS9LIZ6U!"X,!2G4.
MH"PRE3<WM4^VA7S)V`!&BM;:YC=&UF.H`!;1/@?Y3^PW'5]QGG)/M^CB*Z$I
M:_\`9!<PI/\`'OHIP%17@J#X&>4P(*?N-\ZK(/HNMKTC;\1[<H'?1866QX)^
M4"'PM_[A_-LAKZ9YIQMRL@*]PJ*"TWNN6>Q)V5N1Z;Z(FCKOM*9!58J_A+7E
M]S-)H)C%ZQ8P9;@-9/8R#(K.]MH\BNC364E=B+J0@N@@M$C;?KHB</&_MR\T
MX/4MT&!^=',>'T<-F'#JJRIK:IJ'7U=7'$&M@.LA9^OE-P^BI3O>I7H0=$6R
M1X(>4R7BY_TB_.`':H#:JJ$'J1L-XXCN;=/[;;]&B+)_J+>4O_6+\Y?Y/B_X
M[HB/ZBWE+_UB_.7^3XO^.Z(C^HMY2_\`6+\Y?Y/B_P".Z(C^HMY2_P#6+\Y?
MY/B_X[HB/ZBWE+_UB_.7^3XO^.Z(K:O!#RC45*'W&.<VR0`O:NB+]Y/7Y#O-
M'M[#IN-$377/VF<[S/DC'>4\]\[>?LARO%:&PQ^@EI$2O-3`LE$2$0W(<EMW
MO#:M@M1[B=B=SHB5;'VW><:1:U8OYV<LU[BY,RQ3.EU$"7<L6Z6FHM59,6RY
M!D-NLQ4;.`$=RNN^B)3->"/E"TE79]Q?G)O=,9KV6ZV"&"(L<,B3W?5E\R'R
M25]RB-_31%<_J+>4O_6+\Y?Y/B_X[HB/ZBWE+_UB_.7^3XO^.Z(C^HMY2_\`
M6+\Y?Y/B_P".Z(C^HMY2_P#6+\Y?Y/B_X[HB/ZBWE+_UB_.7^3XO^.Z(L9SP
M-\I%K*O^D=YW3OMT35UI`Z#T*Y14?X]$2/SO[9O.?)553T^4?<$YV5'I<HI\
MLC*8AUO?]?1R$2(;/>F0E2&EJ1\Q201\-$6NI/M1Y?CDM-E3^8G+3=JX\BRE
MV-FRU;R5V3*5(8:83+EKC(CLI/R]Z%)&Y^71$Y;_`()>3+B8:H_W#N<H3@)<
MG1F*JF1#[MB4LQFVW4]K2E@=WH">H`T16F_!7RH[-W?N,<Y%Q14I8%?""4E2
MB>U'9+2GL2#L.GIHBN?U%O*7_K%^<O\`)\7_`!W1$?U%O*7_`*Q?G+_)\7_'
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M"0!N?K!N0!MO\=$7G]1;RE_ZQ?G+_)\7_'=$1_46\I?^L7YR_P`GQ?\`'=$1
M_46\I?\`K%^<O\GQ?\=T1']1;RE_ZQ?G+_)\7_'=$7BO!7RE((_Z1CG+J"/_
M`!?#/]A4PI/\8T1)?+O"WRHQ;"<VNF/N)<XR)-5B.1VT!UZKJRIBQKJJ5.BJ
M[??(4T7(^ROT'1%'3A3[9><<QXABWD=EOF5S/9\B<V\98%+S6T5[<#ZJ,U2!
M)@-,0)J$ACYTD=Q/4G1$Y<K[=N9^/^*9MF=#YQ<L8'BM#"N<NR6W8IHU]?18
MU;53'Y#[ML^\Y:MP41'!LRVK;;Y>@&JRYE;&\EU:+JR%\A`;3%,/'GY[;U4*
MUH_.#SRL::=!A6E?>PO&[.GZBS@36528TRME-QG$RXS[2>]"T@I4D@C<'5=)
MN5NP$>*O=_%2CMER&&3PZ1V_P5S'&,_M\UP+!;7[@'FQAEIRCD;6(89,Y`X,
MR#$:&URUZJL;IG&V[RT817QK1==5O.!MU2"K8!/<3MK:&=\YHSZJ-T7]B?#(
M>#LZQ>=/K+_[L/*-+9U5NSC\^NGM4\::Q?2JDWT6E5'<D)6;.13CZE#.W>IH
M@[==7<$,T33U:8Y47-S2W-9&3\!\@X3A\#/\P^[-R3C&&V;E4U`R&^>IZJOD
M&]4TW3'W)$Y@,)LWWDML^X$*<6=@#KNM4Y!\*O)1MD34_<DYI?91V`F.Q5/M
M^VIH/_4.!NR7V(1&4'%J4`E*2"3MKB9V`TQ1!\(O)J4S]3&^Y/S6VULX%OHC
M8\X64@AM22I$]3(?4VX%)25`D*&W7IK9LK'G2VM5JYP:*E,))IO*+QA\]?##
MBVZ\J\\YMP#FQ[D^OS?',\@0T5J6*G'US:M4=,5Y:C)9CP6W$[[`.!0!Z;GK
M1:=9G:IW^+L=#GDUY]1CUCCF/CIA#:CNA$9KAG"0I"$C8I0H!1VW/4GKK"W#
MP6ZADIT34]T*:G?;>'*&_P#]+N:+91#\"4#^K'BJ]_3*N0$[?_O?;==$4Q=$
M1HB-$7H.WJ-]$7I(/H-M$5.B(T1&B(T1&B(T1&B(T1&B(T1&B(T1`U%N,PBQ
MW(R'%E:BK<[>GZ!MJ.L+1WM4Q;U$VJ>0RIIZ+):0F0.]CW'&7$)+Z3T6UW*^
M8?$:H-]V87-)'#)=8<'A<_[ZRH^*_+#A>_RYVNJ:KE#CG+>`[W(+PA+<#*,=
MN&LWPO'?KR"PJPM%6DMMA+C80&]NPA6M=FEZ;O1<A]RL+JGI10U\0^Y=&HDE
M$A*E("5;I947TJ]P206DA+R2$H#2-AL&U)2XG;<C8C7H55*^6P5%15MN`/X-
M@>O]G7+<'>HL1;<17ZK*BY"NU\29/F-;<X;EMU!S/+[',H5EBE'+O6$5TAIF
M-*78R&Y<;Z%<%;/>4I"P03TUYZR)VS'(U3O3]U.85%[5QK:KDIEQIB7%LJ0T
M\.Q<=U+,N))!3O$G1UNH);<"3VG7H;3<C<D8C%9H4I6)`>2E;2E)(ZJ!'0@C
MTWU=O;I:#S4:>XZ-&_XEJK2FCVP+,YEF7"6XR^Y$>;;6A4B/[GL.`N)<"5-*
M<W].IUS7/I>IQ-"FMP>NE8?9Y%B%C,?L@;-61XQ,G+2VX["=9,FT1'2T/;;8
MI7%AM81MZCIIP42%FB5S.3J)[">C:O[<G?\`1T)Z:#)7+?*5[HM4:(J@H`?J
M@_I_T#1%3HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1H
MB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB;[EKIQ9R2K^TP',5;?CMCMET
M_LZ(FF\.G"CQ0\<]AOW<.X.L_P`)IH_3^QHBV?E#29#F/CUSGA>-I@2K_+.(
MN1*BF@V$V/5,J?FXQ*@Q%&UENQHL-MRUDMH6MQ>R$DJ^&HMQ;:P7<UF.XT24
MKDN;?%OEAEF!\2<1\;9!XZ6\B\P/C?#,'L9L#R$XBBP)%UCU;%JGC"8?RD2W
M6[!QHA+BD]-QKS=Y;:6DTP`5PRXU1.;6M?R6'FG(W(GD=S'X@XK2<)C!(O'/
MD-CO*>5WUUS3QYD;35128OE\1*1C])?R[*]G>[+0MX-)[RVDA6R=SKMMOG'P
M4;@MWS9]M2ZY5\B<JY_QGEB!BF5W?+%+DK$#LNVX,.MH>+I^)VS4B`Q-9==S
M>/9S7IS4QA:4&`8[2ALG<>M>:M;W*++P`Y*%63_:MY^Y/YE5Q_E=Q6L\5-X;
MC*[CF3*<CF3X/*]I#N<0NI&/0,'%@M+,JOBUKK:),OWR/>46PG;KR7%2F8^V
MESMCM]5M8KS[2'CV/.CQ<@I+964_F]1A8RB=:6M'5/Q9[3$M,O'C$BI*]@AH
M%`W3JN=YBL)A*S[=/EWAG./%K`S^YR'C;,_(;.N7_(FQI.0;*NQS',(K;2#E
M/'O&^.TMI)_,&+*QL6UMN(9;5&#"RCN[4`ZZP?N?!<Y?(I;^6,YD?<;^V@[&
M=18LQKGEJK6_%EM2V^Z)B5W#9<?E-!3!<9$>0IX=W>G8;C;KJ<HI4HO%E]A/
MDIY]3%NA+/\`3-@"TN*0M#1C*X;PKLD)6L;.-J:/?W#Y2/36O%26?M'XJ<TK
M_!)?^Y)7^T.:+LHB>!/_`"8<6_X6<@?YW6^B*86B(T1&B(T1&B(T1&B(T1&B
M(T1&LBE17*J(Z_@=3>E#R^J(UQF8QH&@8]Z(U'1&B(T1&B(UHZ-K_,B-:B&/
MDBMJ;`"E);0M0"BE#JNUM2MNB5J5T2A7Q)]!J9/'`^W)>*X<UTB\RAGY/X5Q
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M4C<Z\_9/%M=!C<&U6"'*2\5]IY`]EM;:.U/<EQ'8IMY`]MUKX%0"T[@GX'7N
M+N2D,;F$5-<N7!<9K>.6G4!)'>%=4TA9W5W;[;=%*']@$==0.M)S^BZQ?H_M
MX?5-CR#`=854Y7!:6]-Q*2Y,#*%K[I59*0(UI#*=RE;#R2"XD[@D;^NIC22T
M$\E3W;I8)B]F&HU2]B3FYB8BFWTN-.M_4,N,@+:>;(V`*OYHZ^HUE7MJ6261
MD=C+@MIHN:-$1HB-$1HB-$1HB-$1HB-$1HB/Y?XM@?XBK9(/\/31$GY]_"JR
M%6LR#3Q_:ZR+5]FO91-[@$0ER)4E$=QQQD]X*#L/X-`M)'%K:C-40LEJK)H*
MJK&#<,N;)_,:BRA7$)B0@]S\9R17@QPM+>VX*BH?AK*C]5_-;5N:7$D+;2TM
M:R62A96%L=`E?7XJ6#_)HC97EU*K-1N4))]3Z_#6JM8HV.95PQHO=945&B(T
M1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B)N^7CMQ1R:H'
MJ,!R[9/]OO13DE`_`J2HZ(N>\#RVPOQ'\0?!JWS>CL["KY8D<.\/1K")8UM;
M78@]D%$]+?R;)YEH4,L8U2P8#CTMWO0L-@!)"B-$6+:^1MWY@>%WE?GV-\1Y
MCQ[A%CQARWCO"F2WKW??<OT3&.73*,SQS&8C?YE55EPTTIVI6XX5OA33@()&
MT#U,[YWV[",,!@%%9);MN2)`<US^I,BX.I^*_'NCK<&PU$NXX+H:W/G9'&N2
M2^1ADM;64WNU5[;V5<U&Q2<7EN+_`#)IFU4_*/LD-GKKRF]1;]&ZL;P+?^8:
M`<.5:57K[7^DR0.HPB6F'B/SI5:G!:3#F^0/#&'6OQ7.1J;S-Q^]1"QFEGIO
M*CC1_%<PB64_-;^)14R7:^;WI0ZU*A0&8LM2&DET*V,[8NI(X&;'Z*LN1TR=
M.`3Q6/'OG;Q-Y`9_RUBV+YSF6*?O%Y17^#L"?`RZ7C+F4L81&XU7%Q*39T:<
MCAV<%,L-1S+:,?W'4)Z-I`]O<B,-9TQ3PXJM<][GXY(XNG?=!O<IK.0N3N,Z
MF^RFUH:#*H6)Y/5G$<%P+)E8-?UZX=1-CVU@:^XD7$**Y/KGXLEB#L'/JRA1
M3J(K2WCLB/UACWD?BMS2<N_=\RO&\3L(&$X77P*ZP@RKZ#FG'=#79CR#0R,L
M%39UUK%BY9*KL`ELU1>*&VY%AWPVV9KK[`>^G1`B8YSSU,JE<'11:C085YK5
M<?,_<&Y9\A_WXY/PS+<*P_&<,\@L!H&'$P:2-?UT^ONV>'I.48_"M)K,;*_J
M9*VFK-B1['L*9)27%)&K<P6K(BY@I)W_`(*+=1M$)T^:JY&9QP?Y<>+6=^.&
M.UF-<CL<Y9I7Y@_C:,3DRN6G+:);\16]3EDN)79MDM&]3YY`R*<XB6S&6S!*
MFER(H4D'7!5FE_;\EW)\4</Y,;X>\^,)6W>*YA5Q=AN/I:=?=_>#^DMSQ#Q6
M"ED27GVF563>5*[$+;D+:"TC]KN"1A26`]$@YT*[52O\$E_[DE?[0YHNZB)X
M$_\`)AQ;_A9R!_G=;Z(IA:(C1$:(C1$:(C1$:(C1$:(C1$RN?<]\5\8\D\4\
M4YGED.FSSG6VMZ/B[''2^9>42\7HCD>018KW:667FHR@K8;K"/P&L$T!*+65
M/DGQ'<\RY+X[UN6,2^9<1P^EY`R;#$-OL/U^,W]@[4U4M4N2VAEYT+82%MH]
M%+!/4Z@B9YR)1/.BQ5W!*T.Q.X#M]Q2'/=*E*0A"0G<CN4A6Q_%)'PU(A=(:
MZZT[46Q96IQ/<6O;!.Z3W=WN`@?..IV!.NZ*[HB-8)#14X!8)`%3@$%SVAW;
M#;T.XZ=?_D:U$D9R<T_$("#EBO$O![?;M/;Z]OZ?QVUN"'>7%9.&:.X?B/Y1
MK?IR')KOD5BH7BEIV5\J'AL=VB4E+FPZH(/0A7IJIN9W10.ZOASSP^];P.:Y
MV!"YO^=@ER_%_P`K+N#(D.=^,U-74/1W7HRVOHY=8Y.9^HCM/K6PIQ12H[$!
M7J0=>!V&8W'N601^+])V6/$<E9W'CM@UF+J\,5+SQ\2X[P9Q(U_>Z5N<6\=/
M;PUH=90V,.I_VB9+7]U2M?=N=A\V_P`=]?071R,Q>UP[P0JLM<,P4Z2;&(TV
MCWU_K+]IMPK'8ZK?8)0L]%J)^`ZZ[Q;M';QB+4,.Y`TD5`-%L`\C=&["04GM
M3WH[5I*T=W;N1NE:D=3\=NNC]XAF!B#P7NPI4<5O&PZQ7`53#\T54.SHFLV:
M2N);\<.'+L7E[)97'D5KJ?KZX(7L)#5G##C24=0HK!`WUX3<GNMKG'P]^"M.
MA'Q<WZ)UZ*X:OJRNN/I)<$VE9!LFHCW>),?ZQA,B0W-;!_8OMJ6C="P%)Z[C
MUUZ2PO!<P`:@2WMJH5TP,(I0K<*?>9!][8=J>\D#Y4H)`!4?1(W5_9'XZGAC
MSD"?@H:L/1VI33R75H[7VG65H4L`J#[:@I'8?BL'?M^.IK7-#0"15<-U-NZ%
MO3<UTE!4`@D'N!38X>B=BLEO%[MWY5+_`/@;D!12PJ`I"E-P%N*V0N>4H*O;
MW*]@3ML-;ZFG`$'XJ+M[Y@S0X$,3MM]R%$.=R20"`O<$CX$`[;Z5"L"]@S(^
M:O[$>HT!!R60YKA5I!"-964:(C1$:(C1$:(C1$:(C1%X4!P%M7ZJP4*Z=WRK
M':?E_G=#Z?'1%\V__P"$P7-M6^!7&OTF00\;5<^5/%^*V]I(RU_#*O\`=RUF
MS8SZKO(X2'G:&L^BV6\[[:NUI.^W0'1<Y15E%R&\*_+',?`[+/-BHX5R/&,D
MXPX]X.XTY"H,&QWFJQ\@/&[CK(>2<PI\1M\SSKE1^NC995RZ3\\59OUW9[26
MD%*BE"=QE1=+N17T2_:E^X'R=YBWOD9Q=R1$XWSASQMS'&\/K/(WAP6/]$O-
M#=K5R+5QW&8TMH&+,JC"4T^&''F-@D]_<I8`K+6NU9%=G4J[T(6"I06E+@*P
MD*V<'>-PC9/0*VZ:U5S"YH9B16B-94-&B(T1&B(T1&B(T1&B(T1&B(T1&B(T
M1&B(T1&B(T1&B(T1&B(T1&B)`<KI;<XNY(;<W[7,#RU.Z=]TD4,]7=N/0#M]
M=$7'#R'\(I?G[X$^!_$/LULW`*?+>#,]YBI;6QD5@RGC#%JQW\_QN'*BI5*$
MF[:D!H[*90M"OF<``&B):<*85Y6^$OASY.X%R#DN(9%C?`6(<FK\0,U@2W[+
M(I'%=356\G!<;SND?AAAE6*M?0MHCI]X.1HY]QWJK5<R*>.[?<!KBT98'Z+N
MVQ@D#9'/:'.[<N_'`8?:J46!X/Y6\D\2<79]2\NW5K-S_C/"<RO79F!<78S1
M+F7].W,L3$;G5UG-*]WR4%8/R!._0:\_N>\W4EVRT,,G2>[27:30`\2:4I\5
M)A@9#*"'M-#S_BF(\H'?N&\%U_"=KQIRK0VN=<M<QTW"R,"RNDX_K)60'):O
M)\GAOP>38-;(B8NS"FU"7E]\)PN%LI`!ZBQLX^G30*GL6]T0\D,Q6QY#\L?/
MSQ[P6<WEO$F,9GEN'6''F%6^>UN)9S>5\EVUH9N7Y9?J@X376:UX_1R%Q<=8
M?CQW652FER9(2'0-7T?5>/$UPIV*OH`"7X'M2RF>:/EM=IQ5YSQ9S3%$Q6N.
MCE4.OKIF3MJ:SZANIT*FA.J@P(;CN'F"Y*LEA$1;+DIACYUD#620,#@54W-W
M,PTC!/<*IL&?N`^<BFL.K,K\:Z7#K+*N3(%7=6CF%\MY#46>$V<%N1`HJQZE
MC&TI,Y0HI]^SMUJIQLI"0/U=2Y8HVQU:6DTX%7D<C#&TN<-5!Q')8F+^>_FS
MR+$S6CJN`.2<#R3"^4^'*B)>6?$N1%=E07V9Q*WDNB?CW.U9/AJKTN/QK>N5
M[;$-2=VTJ*1JK9)(9M)!TT/#!;UB=@"WYA,%Y=<A^4M']S3QQR$T3[_'W'_+
MV>X]Q57?2QI#N35%-Q?,EN4PQ-J`K)I*YLQ]R/%R,R'&(:93A#*QTU*Q31'_
M`)?F%*S[?G._.>4<2?<C\D<RXS0SRQ"RR_SC'>/1BV8XS%GV&(\$4UMCF#MU
M]O[F4W*8TN"W5.360%SB@N,('<D:+@YK1(&BFG!=T)7^"2_]R2O]H<T7)1$\
M"?\`DPXM_P`+.0/\[K?1%,+1$:(C1$:(C1$:(C1$:(C1$:(OFV^\_:>0L3SN
M^TR/%RHX^R'F9CD/G2;B5)RG+DP>/;"2CCM,:S39R*Y]JP$MFH87N4$?,`GU
M.M)/VW=Q1<SN0?+#S=\0_*+[FWE/Y%\=<)8YY-\6>"'$?[I8C@$^XR7BV5A\
MSD6OJ6ITJ9;NOW+7O.R5%4=(+?M_-W;==5]IP*<5TO\`M#>1_P!R+E'ENF5Y
M"4')F4<"\K<#U7*"LPY:J^.\:FX7RSD4H7$J+Q2UAI:EV'!RZR0PU5MS4KDM
MK!4XK??5J?*"B^D5E_Z@.+^524ON(:>;90RV_'&WLNH*"0YN"03Z@C;6J*]H
MB-]NNQ.P)V2"HG^`#<DZU<QLC2Q^#2M7MUM+>:QWW6_;(*PDD@D*2M)2.NZE
M[I^5(_$ZKYC:V^;@I%K:F@S6KC2/9<6H%)0KT6DI<0OUZI[%**MM_P`->7W7
MW(+.Y9';D:2VIISJI5U;'4-/)7$2FE@]SK8<!)*%+2AP_$!*%E*ST/X==2+7
MWC-3'R_;L47T[N2NJ>8[O;4ZR%J84^$%P;_3CI]0>Q1V9*QV]VX^;IZZL=QO
M;6_CTZA4CFN$%L0ZN.:^/+[AGDUS3E7FY?>&U_F_*E-5Y)G"+?)./N*\8:R>
MN>X;DN0WL6A7<>`S(O%U>5Y1#7*L7HZ%N1&6BPL@ZH-EM(MKW4[@*`N:6_,A
M>@AAZ8U\POIAQ/R$X@PW`($2^Y(XKHF<(K<8PW/TUV=XXQ3\9S4T<&)6U4]<
MZ>T*!V>B#VQ8KJDO.J2OIN-M?1;J9L]I5G)5EUYJ!;NT\A.-)TS%&I_+/%V.
MUW(#*'..Y,G-\?F_TB)??3!0SBRDS.^4MN6M#3:D#M6ZL)22=>*=;F233Q6(
MC^F$QO+_`)Q^+O""\#KLMY:39M9-GZN+GK^@R&FN*C`LP?>(0C.9_NJ&+`O?
ML4*E^T!MLDGIJ7%L$\IUPUZE:@]JZ9C#)+CF?EGB"'B<S%AS]@$3)\RQF%=T
M-+<YCC=C87F.S76WTWM3764YB=)KA!;6^AU#90MM/<DD;'7CO<'M?W-<SX.)
M%?MQ601DMAEGD#AO%_'><<GY!RC@F189Q/0"=GB,3?<GW$1B+!+L&*]75$S:
M':6)<;:9;6"I]Q:4)!)U0WFP>\=F;&82[]2M:5X?%<)S6B83C/[F.`<@XKR/
ME&581F?#5;Q<6G\T3S;!&&LRJ"5CMID5?8X0]+<#63JDP:U+BFXZW'60-W$I
MZ;S+0>]@W'6?FHX(&8JI/81Y*X+R308W>X=E''F40LNBAS'&:W/J._N9]J*9
M-XW4QJZ,A[OMEU)+R6T*)[2-CN=60W7>(V].5IZHS[PNK-J@#NL:5)JE_(L;
M._JD-3\:LY$:,^IUDQ9RHUM6S!^PBJ8,E*5.O!MP[@`G8G7>TW3=))PUK7:O
MC^2[S^D@MSB,"$H,,M+.34.FT^J6]63EU[2I@_\`"0CI/ZLUH?,AQ*@-MQU'
M7TUZRRGNWFDX([\%$BCM;G`$53D-.+6G98(4C8=1MT*0H;'X]#KT#-.GPY+:
M6W9;.T,-6D55S6ZYHT1&B(T1&B(T1&B(T1&B+P^AZ)5N".U6_:>GHHI^8)/Q
MVZZ(F"YU\8N$?)S$V./O('CG%.5\!B65?:Q<.RJK1+IVK.H2H0+%3W=]6M:6
MW5(V(*MOT:(F@XJ^W7X8\#X7F7'_``WXX\:8/A_)=;84O(E!75A<CYC4SW''
ME5F22I7N2;&I:6M83'.Z3[B?U0C<$3W<$^.W#'C1@\/C7@GC3%^*L"KG%_18
MSAM;%JF$ID?4%+[ZVRX7Y%>F>ZGN4M2G-MQZZ(GOZ`)2GN[4)2VGN(*BEM(;
M25$="I24@G^'1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:
M(C1$:(C1$@^4QW<8\CI!`*L!S(#<@#<XY9?$Z(N;4[S!POPN^W]XKY_E]3;Y
M'99GC?%7&W'^+5-A%I/WGSO)J]F-34\[(K4(HZ6`^I"BMZ8XVTD#<G1%M6_,
MOB?RF\$><^>,&H8LZDH^-^9://\``KM]*8;>38IC=M`R/&,BM,:*5RJYN=6O
M,-2X<I;;R0"DC?;783MTZ*X@(H8\8^'7F/E'#7%655O,O$>#8UD'&."7-)`C
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M4XXY"O9,*RR:([)2[`AU(Q.KH*>];S.6I4THAUF16D@T<)YU20J5#>Z@[ZD-
M\H[ED)/<8_>GXTY,Q3!;9GBOE*IR#DV5C%9@&*6+T&!:9996^<VO'V1MU%8[
M)5:R(N+2:UV1*`:4I,9M*P1[B#K)72'SI:>5Z)"/N/\`VR9,>>\I3DKE1A2V
MUH=BJB2<.M&G6H[,A'OQWF/IT(#BMW6UGKT(UA2U+3Q>L),OR5\[X4MTN1('
M,.%-0HQ?4]'9:=X7PAOVF0IM(C-GL45)`([RI7\[1%-&:>R%-7MOVPY9V_':
M.YTW_3JKNMQEM7ACX33GJI^"VC;U#3)1!\"7-_&7%F^W_P#6G/U[[_CE]P-M
MOXM6<$D$\0EU@$\%WFM^BT.U5KV*8VCWQMR<"HR-<^H\XM:2$0=AU/I\=:NE
M>UI<YAH.U9:-3@%X%)4=@H'IOI#.V4\@N_0[?HO=2G-#:4-:KG(S0<ZHUHN:
M-$1HB-$1HBCCRGXJ<-\Q<R<#<\YO23Y_(_C;9Y)<<46S%M+B-4<[+JUVKOUN
MQ&2EB4B7%<"0%`]J1MK#AJ:6\PB0>6>!'C)R!ROROS+R!@+.<Y=SAQO1<1<I
M1,HFRK+%\HX\QZ7];7T,C'5*3""6Y`"^[8CO`5MN-1H;;I4\5:=B+3^-/V\_
M&_Q+R&PR;ANMS2%96%+%QIMK*<\R7,ZJCQR).1.C4.)T^13YU;BU/%4RVAJ/
M#;;;0A&VVQU+)PHBFZRU[*"@'N'N.*!ZCHI6Z1V[]B2D=/E"1^C6[6-=FZB*
MGWCW.A32PEH@=X&X5ND*W'IL.NN&Y2P[=;"X<\.)&67UQ^Y8;5S]/#FD_:Y5
M65,*3+FN.1FT!0BN;A*IR@.B(24*]Y3Y/H-A_#KQ$GN\3@P0P'J'`>/_`+59
M,L<G%PT\?M5:*-,R3(8JY%>XFH:<'][RII>?4XDC<)6TM:04*!W(/X:Y/VO<
MMT@,K93'7AI)_$*PCZ<0QH?@L9.*9)("46F9/AD[AR/2U\*"V\"?53R6U2&U
M#X;*.JB#VC<SO/J;C]0'#P?]RTFN+9KL:X\\5;1@-6U(46;C*TJ;[5-%5_)5
MVK4`5'YDDG=1W`WV&MK[9;K:P"UIE'8-/YKCZJVIC2JB]Y&<C\J\7IQC%.'9
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M/:H/27'5+0`XH:]K;7\4=JX!H:_3G7+MR6W7'+ZJ.?+WV;LJY,N'_%YSE?`G
ML3Y5XJXMN;[EY[%*ZPY?X_N^$JB)C57@7%C\F25T/$65RZ2*]80T+*F'%NH0
MLMJ[=>8O;B],G5BG#R.&G_N3K\@IB\0?:<NL7X.\P<(S#EBI=S'RJR#`\J=E
M8SBZFL8X^R+C=-:K#W6(!FGW6C^21ERD)4TT^X5DIZZRR[O=S8UMP-`BR.=:
M_*BYR/#Z8);\V>$?D?Y=8=64//W)?#%/-Q*=R+'Q"NPG#9;D9R#F''E]AD.P
MR67)LE.O6<.?/C.I0@(;22H``*V%A#KBX@_!<TW7BYX:<B<9_<`=S7)<(KZ7
M`^+/%'C_`!5%]15];1X+R+Y"6JOW5R;DRDHJ9A?Y7/B8=CK$9;B4#VUNEP[;
MD'FZTLY'%[HAK)J3A^2E.;++#1KZ4'VXA=1>69F0+R&EP2IN(4%63P9#M/%9
MD26+2SF,L`S'V+]+BG8BXSC@3NGJ0"?T&;ML.W6UVV5\(<T`X8#AW+YYO5S>
M-D])&3J<1C_#^*27$W(MS7YEE_'EO6/R\3PV=&I*CDA^0TL9);F"U-GP)CS[
MJW5O1!);/OONH[C\H23J9?MM;BI@CZ9^?X!6.V0W,$?5DEK\#^:E=$L2XVA)
M[7E`=7FRI+:RH=P"`XA+JDI3L-RE._PW'757!:OCC.HU->2N(-Q-S*(@VO"M
M?PHMN@]R0?3?X>NW^EKA),8S3356,[)814-+@O=:>I_R_587NVND<O4-*476
M*,2D@FE`C;U_1\==ESE`BXU0!HN4SWQ0B8-JTJA9*1N$]WKTWV^!/Z?7;09*
M5:QQW,74+PT\OL0L;ZK;JMOL'IOW@]3Z#T&M:NY*/<.;`*@ZOHJA(WV(1N#\
M>[_U-9J>2VL'17C7N>X1EII0XU^Y7T*[T]VVW7;;U.L5=R^JQ/6(TC&L?+\U
M5K9!B*G-&BRC1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:
M(C1$:(C1$:(C1$@>5TI5Q;R6#ON>/\R[2/YJOW=L=E;?'8;]-$7,G(?"/B?S
MV^W=XV\.\P6%_3UU7@_%^;8KDF*3(T#(<4RC&ZQF3!NJ\S&I,.:XTHDEE]'M
M$=3W'IHB=6N\9>'_``]\$N5N+8KF0W?'=-Q3R%9\@WT>-3(SW*:V;C-NK(K5
MI-76UM/]9*KG"&A]."AU84KN(._!L#C*7:L"<OL5Q=+I<13+M7S9X7#\I7L0
MP8XMQA]W'/.+5XS23N/\9S.5P;E&(#$A3J5C3E;`MJ]#S#+4)QE;2U/%92!N
M@'H/1VD#)!T^)PJH\]UHA<_36@4BO'.5R%3^1OBIQYS=Q)YGX/QU<\^TF1X3
M4YEB_!>*<3KY?M<9S*/5#,JWC^CII<)<2M;>]X,E3C\E*6GE+"NM/N=NR.3I
MAW'E_%1;.5UW@1I^OY+I/R!:_:E7#LZ+-<'PN,[AL+-5-04T,N%,@SJ;D)F-
M?XW5/M,)0'&\WMG)/TR@MMH3%.(*4.!.M;6#T<1\6O60<J45E=6PMM(U5+A7
MN4M>-^*?`W`,OP:KXTIN(Z',/R&^S7"H\68TY:)JZ2!^Z^27$-A<KVH,:LK[
M@,OA_L2@*4/;)5W"!=R@O+J+:.TUC4"LJE\4_".DJLJQS&>->,W(5_QL[A&8
M8Y5RHL\GC%,FWRURJ=0_,5)JZR183')P<<6RM2WB6E%.R=3&'P#N6AMZ$BN7
M8H>^.7C1X&<I\B\7^7_#4BTKZ3Q<5R1A?&>$/N0ZG!\9R27+2,]SUE=D7K.8
MO)YENRXEYYQN*5LMJ9;;4VX#L5LR/0ZM4J_*.WJK+[A_VQK''IL&VHK6SY-F
M0+>M6T_7627</M6WY5;);6KW(KJHR=QL![J5$$[ZPNJE)XLJ;;\G_/D)0OYN
M:L!2=@2"5\/88@DKVV'KHBFU.<<373TN;E?T$SM[0D$J^F=(2`L]I)VVZ_CK
M?=(K>^MR^+&@76W\WP7/3PASC,X?C+B;D+CB?([LIY##;9LX>[K;68W`[UJZ
M%DN>H&OC=[N]UM%T6N<>F308J?>4Z+3QJ%-JJS>2_'9<R"K&+RWSLB%8R6G&
M]O11$QKY/D40-CL3JYV_?G7%"3FJM+-B8'2")D9Y!`4E;`!;((WV2KNW5MZ;
M_B->VMMWA9`UKJ5`^W!86:LGL7W%81VG=24I60G;JH)"]U=.H`ZG6+K=X9+=
M[&YEOVX+=GG'>L`+]E25%(1N/V8[B5N@].\H60&MA\/751:W1%%.6P;]TCN<
M]%?J?J]1\?U2?T:]'!*96U/!1I\PKFNZX+7JGI2XIOVU$I64;]=MP=M_31%D
M-N*4K8[;;'X:(LC1$:(C1$:(O1KK&W4#V+"QY,A$9LK)3N!NH+/8E*/BOO/0
MD?VNO/;A?NM7$`T64V]I<7UG-$'&D*=BDB3+MU?X,(X`0N.Q'.P4YW)(W!.O
M%;O=W=\T`$Z>]63;4")LP&86?"PFK95&LK%M^TE(Z,3YA]Y7>HD@%@J[&2D]
M`H)W&NVS[%)$WU\PJQAJ5%==N:=`R*6;6R`E`4EI"!LG<`)2!Z`#T'0:^J[<
M^V]&-(%%CU#U8G25,(2IL?4J[F6D-H*$!QV2\&&TE9("$L@*<4?[5.H@BBEO
M.K&!TVYJ)<13W+@]CB*"F"@WS[YJX_QM#R"GX3Q"X\H.9X\&3*I.*^+EN3$*
M,9,7Y[_,6H4K'<>:;6X4K:D._4J._8GIMKINU]96\-)VMJ`>&/XKCZ&Y!Q<[
MZ_FD#PG@O*')/(W].7DC0-8GRK/PBPP>OXUQ+)[%['>.\'LK^'<+@O7"GHHL
M,TR>4P9$^2T$-(BQFXJ%*4KMU\59<?U"\T\"XJ^?;=!NKL712IK(<.*W!BMF
M.PTV$)#1"5J0-DJ2ZX4EQ[W`/F*RI1_'7UVRV>&WV]LP'C-%`DG<\=,G!;I4
M5M7J7"0X\XV>]14T7HZHRD-D[_LPTH]J5=P!ZZW],U<E:7`86A:"70A3;3/:
MAPH[&FFO:0AM20%(`_6WWW[AN#MTUDV8:WJ!*K'DAN+'>`3W-I8>4YWJ`)/S
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MW8V64AIUJ[MIRP]+GVCX]E`<BPDE*.Q(V2@`#<`ZL=O?ZF@=Q59OC1MEF2W"
M@38\/936X+$F8]._+T0;&>J=5V\*7:6;,E#=6Y-O;29*E3)XALQI*#'CL.+1
MW=GRC8C5Y-8EM`V@%,>WX\%X3VS[FB%TZ.8^+65+2'9^^$K;V>C/([HSS;L<
M)=#I[XR^JB1WL*22GU!.J*>U:ZA(Q7V?UUO-`'"E2%O6P7""=F=OUDN*]=NI
MZ]-M]<C91`5_!5:UCEDEN4B&KVTO+2](6V5E$AF/W)$<*84=U)<!.Z_T:T=;
MLB&IN9P368\5>ERPRA#J%LI2&Y*W$.$][I0T%,H;V]"7#U/X=-<_O51=W9Q%
M4GCFE`BT11HMH#UP^Z([$'W5(+LU.RWH25;=78[)[U?$#0\EWL]W@N8A8'&1
MN'VP6VG6"HK#[J7HP99:<==D2"&8[#;25*6ZM:B-V6TC<J_`;ZWB;KD`YE5]
M\;FR?U&$],&I[DT<C/<CRJ9%IL2IV&@MMZ?8V=I&F*AQ8J/EB-5\J.DQ9SS[
MJ>[92@2D@:G^DIF%RCOC<BAX]J3.6<LYAAK<.3,Q6.]6.RVZF-&918/9';V"
ME(2MZ'7,LK9;A-*4"M2E;`*&L^D%<`JO=I[BTGB$)(:YIKVT*<+'>2F+^+#>
M;:A5TE$]V!;ULVQALRH*FP.]\QGEHG$(<(00$]I)Z'6!:8THO1[5NT88#/C]
MNY.:W*#R&E(3V*4E!<0>I2L@=R=O4;$ZKW"CB.U6Y<''4WRG%9>M5A&B(T1&
MB(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B)ON6
MRM/%7)A;V[QQ_F7:"-QO^[MB/0?HT1<;?(/RHY1\)_MU^'WD5AE?"NN.L/Q;
M`*GGFJE52Y[R,3RS%7*?&;>(^TEQ]!J\Y>@E3*$[K"P5';1%-Q`SOE'P+;JN
M;+.J7G7*GC!/<SZUGL?N_C2[O,<0CNVTB2EI4?\`*8\4627UM)=[6XK*U`@D
M@;1UU?%0Y1XBN1^-^</DEC7'N$<80+7P4L,8PS$<4Q*I9A\J94S#GQL?JPQ#
M<8#<]:]W8T)!6`M04"1\=7MH=`U!<7,ZK=',)<8-RWS?Y;^0OC!3Y;+\-X-/
MQ+RY7\R6B^*,LR"RS2<_255W'=I*YBQL6&GY*S9*DR$I#A<=0DA/PUY3=[HF
MXH,JK,,?IS@$RW,.=XOB7G+S?06/&F69EBU/SI19;9G$+9<Z5;9MFF%Q95YQ
MUDT6QK7(5=AU]"BP;UF'7H$R3:0/9"BE+A3,BEZL5>2ZRSF9P!S:**/[6/>+
M6>*R_&LJF>1>/\F\JY1S(SB]2<JBS<ISQG)\@H[O)L,K;'&XA..PJO'$0+`Q
M0XT4QU*;<"74K&JN[XJVM1X!WJ2OCCY>\5^*UKR!C.$^..?/N<D9AQXU*R?(
M,VJY\25QM%P65C.8Y[C<S(HPGR\6PF34COA*3)DS)*U!#1([38Q_MM[@H[_.
M>]8O`_B)1><5;QER5QMGV1/^,LCE#G)?D%091#7CE]G3K%H])Q_`X<3$9&,P
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M;K<@M2NT]YW`&VJ?<=CLMQ:-4$3GAU:EH)6SGO<*.)*FQ95%9;Q1`DQ(DQHD
M%*+!AU]EO;^T;20A*SOT)ZC4&/VPR+"-C&]P`6M5J$X/`:^6-,N:MM("4-HM
M5_3M@`;^TTZ7'$-E75(WZ;]-0Y]@N^J=+W!O*O\`%2XVL+`2`O8^)1@ZLFZO
M'NQ.X;7*1[;JD@[)W0`X`L_%)"OP.^N#]@O-)K(_Y_Q75K6-<'4%%KG,!IVY
MB;%E$T3D+"NU4RU<:<"B`L+2)`W!!^/3\=16['N`\LT@_P#B/YJ5UH?\(5FT
M8RFBL8B,==AV%(X''[IJ;*4J7&C_`"]Z8*BGW6UM.$!([B=B=OCK2<[YM8T0
M&24/%2:DTI\5'D=%*:AH%%J7\FY,D>XFFQ"M2\E2DK7/LGE-]@W"'$(W*1W)
MV/3XZ\_<[U[G:?")0.\_FM-#.06-$7R?8+`L/R6F4EP=TN$A<R4!W;J:%>ZD
M17AMT#A^8^NH$.\^[@^K^M2O,_FNX-N!ITM^2WAO;^N0B/;I:3+5)[46D:,H
M0TP@KY38-J<+4:0^/D3V`_.1KTFW>X]VAF!W!KQ!0XFN?!:NZ);1K6U[@G&C
M.)=2E80\VI33:E(<<+B3W;GW$'J`%_Z6OH6U;K;WI`-,>:XZ&C@*K)Z#J>G\
M@_U=6MP(NIX7`"G--#.0^2\[T?VR>GK\R>G\/S=-1W=,-)<^@`YIH;R'R5IQ
M]*T*0A("^T*'S=NR=Q\Q*!W!/Z=5?K-M_P#[EW_J*:&<A\DG)^2UD%TL(4[+
MFK3V-18;RGS[Z?GV="B4LH(3MN=OPU`O=]MMO:WTTKI'/-#B31<9@T4H`%KF
M:N;DY+]_.=:ANK#D>D;<^A;:2G9.[RXJ1(D.=P_5[@DC6('MW-M7L!KS`4=*
MV%6LPH[3$9L1VV@4H0&3'*1W*/\`<]R4[D[]2=_7XZG#;80`TQ--.P+IU9::
M=3M/*JR`RRE14EI"5'U(2`3UZ[]-3(H2&](C]`YMX'O"Y%H)J0*JW(0W[9W2
MGH=T]!MW#?;?]&I;6M8-+``WD$H%";S6Y-MN-.(:X8?,L:S+N2>3^-N'J/)(
MT=MV)A]CR/E$+'95]*ER$N1:IB+1RI?MRE(?##_8KV]]CH]X@MW/;X0MVO<S
M!I('8EMQ9P=QWPGC]-Q5Q-31,0H4+D9'E"JZ3)D3KS\RG.3IEE9VR]I:I=K=
M/N/N+1VI/?NE"$[)'R[?);K<)2V*1]:\RK>V<7#QXX854A*ZBK:J,J-$:88:
MDJ<:[%N/2)B7)"T%;B)2PIPM%UM*@"?YH/KJ[]M[5!:.U7,;7'M`*K))I7DU
M<2.];Z,RRVD)0IPN,CL*E_S]^A)_MM>[>^0FC7'HTRX?)<:#.F*R=:U/,HC7
M&;K%ITN=I[T25RN%96=!D4*`XW'L9U;:5E0X3LVA]^N3M*D=OHEI2E;$]?4:
M\]-%)U1JQ%5LT8BO-('B*^@7F&5":J+*A)QR/^[$^ME+3]50W-`&H$NGNT=_
M9%G,-[O-!L=CT=Y"CU3OKL/"*-P"EZ6ZJ4">1M3A2DNA(*NJ%;C=:?T'^<G^
MQJQLBXZJY8+C,&@C2`%H,@O8E'&,J5+:994[!AA3G>$M29LQMEEAL,`K=E32
M2$=P[4)0?QU/7!,;8<?>1K[\]47GJMCQ7)4A4./_`$?5,CZ6.XZHL,AYQ06Z
M66U`=Q'4C1;,<Z,UC):>Q/'B6/3*>OB)OK=W(LE?B)B6N0/LB$J9*B]'$-U3
M.\.$T[MW;H`!VUNP,+J2`.9R.(1TDKOYG:N=359]LQ,:KK%%>U&=EN1'VHK4
MM7;']UU"DJ6I/5)(23K2VG:R[T,P;7@H.[Z;FS,3QJ>13''[U#[&N![2Q1:Y
M7F*FHN:3Y#G_`(`H"VSC!C0VY;=)%G05I^A>DVCBM^Y2#V+5W'KKVK;V%DC6
MR`$:1G]N"^2NV)]I(98V!CM5:@4^Y/1Q0<F@"?0V\V3:?E]=22_<D26W%UUO
M.COBTKE.MI0S($`@!'8-O<3^.JK>0UWCA&GAAQ[5])]L7,?1T71U8<<?ABMK
MR`Y9VLR@QCZV1"I[]4R/9V$:<N'-0W$KU.0?;EMJ#K8E2MO>(_CU46PE8:R$
MD=I42YN+E^$;W`]A*81U.?XYGXN;>!7/92_C;U!B>/LVBY$J_,=/=.E3)(2.
MYB'';#P[C\Q3TU9ND@Z8;I:?@O/7#MUU-/6FI7+4?S2PN<BY9+<BRE($2`J=
M6UV/5=!&^OL7Y"665R;N:%1GT)K)*^X=JB/0ZY`P9:&_(+T8M9W6@<^I?3BK
M[E)1XYF&,39RW'KZ=:7^9*NK)P")#LX]5$;LZI)>2RB(J;%F]R$@)ZIZ;[:V
M?Z9T0:&-#J<A5>>LGR6.Y22R>4NS^"=/+<OHJ3'1,O63)KYRV:ANLB@6%I.$
MXB)&2U'84MMV)(2H=RD'?8[GKJL,3VS"5I(:'*[W'<?6Q]./^;#MJJ.,<2>Q
MBCDMRYLA]VWM)EO%KE(;'Y963&TIC0?8>[WDI;'\T*V2?AJ6;BIQ=@NFTVAB
M=^H*]X2YEA#'M=C;:2B/+2P'TQ64-K6EOW'$J<0H)2VR%*)W`W`WU7;CN?IF
M@:R'$'CR7LG[7:W]F^K(^LW`$M%<>14-F>`K+*0Y/F9PTU5R+:QD.RJZDKDV
M+]$[D<F4R6[UQHOKG?L0A:MNC8'4C7?8=P-PXN>XO'`$U7R^Z]M[I#<%S))!
M'7(.('RJI"\7Y/7W%/"CLS)M@_`M;&DD3')3#@;53O*AJ1+[&@EYU*F@%+'0
MJ/3U&K.[BC:\D-:!W<5ZW8KQLC>E,2YS<,<<L$\P(_$?R_Z.FVJ9WF5O(#ZB
MHKHI\$:PMD:(C1$TW-?+V*<"<4\A\U9Z]/:P+B[$KC-<D>K(KD^P^CI(JY,Q
MIB(TI+LE'8GH@$#X_#1%'/!?N`>/'($3Q2L:3)KIR%YF0L@M.%6E5A"Y$?'J
M95W+&2AD/OTL54<*V=<4A.X"=^NB)9\T>7/%O#^%,9NJU<Y$KV\OQ[#;6MXC
MGTV;3:>XR&Q3"KW+957837:^NC/*[WU/ALEO<;=-M$4G8-F);3$CV%M,RH\>
M2\A_8/,F2RA\!("EALJ"]^T'Y=]OAHBVO3X>GP_@T1&B(T1&B(T1&B(VW]-$
M1N/3=(/X'U.WJ=OCHL&_A@_3<UI<.8J@$*_5*5;?VO7_`$CHG]2@?X`UM3AY
M4:+*-$1HB-$1HB-$1HB-$1HB07*O_P`:[DG?_P"P#,O\W++1%!C$?&_!O*OP
M$\>.).3;+*XV$R\%X?RF]I\7G"`[E36%KK,CCX_:*^DD/3:B;+@-&1%0I"GV
MVPGKHB?#RKQBXL?%WGC%L6I93TRYX&SW&:&HIH;DBU=E-8;-CTD2GK4B.^.Y
MM264-+V4E1[.NLBO!19KV*W)#V@_"J@/PYRCPG3\$<.83F.(>0%!EE%Q5QK4
M7C3'C?<?5Q,AQ^IC,VI3;M86_LB4N.N,\XE:PMH]I*M^O5D\C#740T=N"X]4
MW#>I`VA').O1\D\99[R9Q74\>8GS,];L<C0,HDW65\&6^"8YC]'!H;Y<M?[U
M#&:B&Q7N.6,<+6I9*G&VQVJ(`%=>"*<Z@UNON5U:B.:`B5H#]/$8IK.3_.#C
M;ACG[G7CG)>`ZW*LAQ3(L:R#$9^).X*F9DV0WF.HL[)69S,BM8J,6O**FGGV
M+.P?8BOH=#4?N=W"=;$/8US795P7F[^SN+2<'4:/J1B?S6H_KJ>*V$XBU=<4
M>*TO,<PJ+I[,YV'8OBF%P<CJKWDA^;(SN87I-G$E5D^VGI?=E.[E$L(!#KB5
M(VEEC'>9H)[E,M/4!N+G4[RHR<M?<W\0,>Y(=Q_D3P[KKCC;&+OC3^B^>SB^
M%VV9U62Y#:7#LJYETKMFVFG8QZW=<4B,I:?G=+@!"@K4(O<#0$T"E;D71L!;
M@Z@RP73SPGY_X\YD9R?`>.N`<F\=X6`P*S*V,9GU^*5,&70Y[(GVV-7E9#QF
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MIUI\RW'[=JE1R,:P`G'XH_EUA\LY:1I^WS67RL+2`<:=J-A^)U%_W'^`?,?F
MHFIRH6VVOM[T%SMW(Z@;'I^/X[:F6]Q+"TA\0<2>8_%=XI`T$.52&&.WH`WU
M/R_ZOH?77">YF<?#;-(_^%=>JSFJ%%L!2-RKH4[=>OJ-OPZZTEW.`,HR`=2G
M(9J&7NJM+/IX,^(]#FP>^+("6G0ET)*0I0V=W!W_`&:ME=.IVUY;=9)-PMS;
MNA#&5!J*<%O$^CZNR23KWL@HVUPY%0[9Q4+*83T24W[R6FSV-I>]QQ)[?9`V
M_3KS!@W>T_X;":?Y@/O(4KJQ\UL_WAM0T4IQ6P))W^=UE9^!_6#A'4ZZQ3^Y
MWLK)$[57_&W_`.I8ZL?-8CEYD+\=;$>@<8DG8-.+EQT,M`]`B2ULI:E#X[;_
M`,.NH_\`(9B(7QD,?@3J;@#@3YDZT?-8K&(6LYOORRX>?<!]UMFM<<B0(:!^
MK%2MDIER4=W]MT_DUW_\%D_^\[YIUF<"E544=3!;*HL",TMU.[Q2TKZEQ8(`
M+DEQ:E.)4!Z?CJWVCV=;6TCG7KRYI`I7&GT*Y2O:^E"M^T-@1[8;`/0`@[C;
MUZ$[:]=!96MH?T3AW?P7!5ZLFOATBI%>Y$:UD?#H.DBM.2*A:4*]M*U=O<ZV
MALD@(+KBO;:2YOMNA2U`;?$D:B@$BHR1<]/-ZX5D51@'CUCU>JXRCG;-:G\[
M2A#S<3%^)^.[NIR[DG,7O93]973J^'6M1:Y2![BY\I`[2@+(A;HV3T3H6#]8
MX@?QR6.*FAB420XJ1?+;<4;$B/$4Z8Z7V*J)NVRV\AE:FFWG_;'<A)^4^NO#
M;1M]S#=%^XMTQD\2#]Q*LX)X6#QGZ)?!2B`2.PD=4[[]N_\`-Z'8[:^@WL49
M#3:4.'=^2KG4+B1E5&I#"!;!COW*Y+"-<T1J4UT/2H[S(J>V/OU6.[?J""1O
MOU"OD/3?57/`'$E@66FA!4<^1V+'!'(')V+N*B0H=NP.2:-2O>J[RAM)2$7U
MO]*EH$7]:RE&SYZ!D;`]-5SX9(_,*?%2NHP\4_[$YN3'9=;++\>6W&7'?:ZA
MD34AV!V@;_3L?1%"3W!/S[GT.^NMK<PQO+'NHXTHN,A#LL4WU[:UTBZQVCCV
MC%3:V-@B>N$]#$AZ\HZ62&+=E")"`B,X7I2`S()2$[D[[==6Y!:S6?*N2<MC
M?V4;[?SO3NV`"U!(^?YCVI`'7XC\-:@U%1DBO#6'ZM/@\RZPN:V2K_+0JT\V
MEQ':I`<&_0'8=0/7KJKBANFW75<WPUYA0'1R/N07#]&N?\$B,IKKM^FGQ,<D
M-U-M*9>1%E.MEQI&Z-E/@H[@AV&/G&^Q._3?5Q)<22;@P,J6!@!^JVWFQMWV
MO6M\0UN)RQ3"TKJN.+R4U8WDJX><I8\BXCNO>[%NKVS7[%:D2%$FJ4MP!;2=
MT]RE=-SN-7URX.C;JR"^9P;AZ2X+"X@$]J6;B+XYI0YC:T>0^^&FL911B5"D
MU=>Z\O9VZ>9;[@E$D=%$D'IUU"FEM@VD;JN[C\LEZNU+7G]1/,N"U)D>Z8[:
MI\)"1$GOL,?6P@]V^\U%?*'`A"VNY/3\=56N35B/#17,MK!(QG2`+@ZO)9SD
M)IT_.TE3:04L!7M^ZTUN"&5J0E'>$JW(]=@=;:G]JO6BS%OTR?'3E_!)_(<2
MI\@JW:VQJ*^<QW.K9:G1TRVDOOL?3F1[/NL[%M'^NW_#66/>'8UI555]MMC-
M;AT=#<$8X4Q[Z)"8?@$RG>3^\%G%MQ`6AB@C1H'L1*J,P0VRAE"DGVUI;0!N
M"=OQ^.I\LT!MG,::R%IHJVPVB*&0/G%*%.PB(4+3L/F4KM'IU4H'U._QU3&V
MNFLUEIT]X5\(6'&+-([+7%R?RZ@AI2[,NS)C.H2I(<CURH[GU,@I41\O<E*#
M_L]?.?<]W-/<116=74:0[A3'MHN\,UQ9R!KQ2,K?1*F'`JWQ$[(G?%87"96I
M"#!"641UQ`DD$!:$JZ^AWUZ_V:Z6W(=="C<.U:[C,V>']'&7'LJHS8SEM=@6
M77N,/T%RB%,S*PG2+U^2E5'7(L!$>KI,=LHCE^J>8:(?#1=#<@;+V.O>7!%P
M?T\2OFGMZ/<(+V3U+:-,CJ8@\>_DI51)4:2(SK#R'&G6_<9<!^1Y"F]P6E]$
MN=.IVWV&JJ:VFB\;Q1O>%]&D:6QB5U-*V>N"YL_4\F*-%LYKF&CLT:+51!\^
M.,L\Y@\,/)?BCBVJ3=YYGW#V7XKBE4N1#AIGW%I"#$:.J1/*8C'?N?G7T3MO
MHBX,^-?VDN0O'"N^V'G^`\7/8QSKP;Q=RG2^2,RVY-L\AJ(5WEO'#]1C3#<0
MVJ*VSK)]T&VGU5S251F]^Y&W4D7/!G[1/W),EPSR.EY!PCB-;F_,'+OBMR._
MC&"9)A.-8;63.,L[R*TY)E4=5CTJ/"^@762XK\4OH0Y+V+;VZ@1HB^X7&8$V
M+04$>4DF3%HJ:'*6I4<+<E0ZZ-&DNK3'(80MUYI2BE'RI)V&B)7:(C1$:(C1
M$:(C6[&.D-&YK#G!HJ<E:7OW)`=+1*5^G=\W0?A^&L/:8_/@M.K'S2:G2%U_
MNS%N%XM++;;82I2B%)]QWH`3T0-]<F21RR=)F,GQ4J"PAO&F0$$@5.'`+;0I
MA<#:41#'*@1W%/ZZ4I_:.';T0D]"H]`>GKKN^)\?G%%%ACVZ:9T5N]CIV<*$
M9=ZV8()V!!/X`@G^37-;R.$3M#\'*H@CU&VM'/:WS%;N8YH#CD5YK7K1\_O6
MJ-=`0149(C641HB-$1HB-$3<\N2$-<4<H+/:I#7'F9N/]WR!+",>L2X0XK9#
M:NFP)/J=OCHB;'PV<+OBAXZ=K*F6T\.X,E#:OG<3VT[*%AQT;H60M!&P)V_C
MT18/F+8WF-^-/D-E6/6%G475!P9R7:T]O7.^S*J[J#B]@_228CW<DM/1[!H.
MCX[C3[E%W"&TN(6QL/\`N>(H?OI3ZK@_Y(Y5Q'P/X0<!<R8O*RGEWG7-\8XC
M@V+=+R!DUI>7$O)<>A6V5Y188G&O>Z!$6W!==*'4,K^I=Z)!Z:X7CA%9OE.%
M&KZ/[+V.R=:R>M`#&QDDTKQ%,JUJ.62EBS,X!HGO"#E[QXR#(G9')ODCB''>
M05+6:Y-D-<W59!@.72<BHK'&[.T?;KY<==>RI*7>U++ZDJ]4G:MV^[AN"`TU
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M;C\-U;+##05NRGN2.P[ZQ;RQNFT`^*G)=(SIM^F?-@KG*/$.`9QS=P-RGDU<
M'N0N,G,HL\!MVI+;7Y6]<T4AN=7B$M25V#DKW5+6G8A&^YVWU8+1-UXQKD2O
M(WSK)CL-/L<PX)$4AM9<0XXQPQAD)I;C2_D;4ZML;H3\H'7XZ(IN3!W0Y@_&
M'*_VAS1%$?P,/=XQXLH?_95GZ=OX,NM^NB*8.B(T1&B(T1&B(T18ZF222"-R
M21T_$[Z@FU)).&:*@,.[_,L$?AL?^SK5UB9!IHB],=6W0(5_L^\#^+M.^N?]
M)[$7GTZOT(_0AQT)_AZGUUT;8F,:47K;"D**CV'?X[$J'\9ZDZV;:T<#AFBO
MK2%H*3\?_DZG(JDI2A(2!U'Q_1HB]T1&B+T;?SCL/B3Z#6S&ZG41:RQDKC]J
M%M`,..,-*?>`5%/U+J([0>[?VK+;;SJ7"ZD@M]G<>@.HMS<&V3-<D^!I_*'D
M3Y%<Q>0%_$OZ7C=F9/X:\<3->*RWQ[6630Y`Y!KN](>1^]-C6"`.J%K:'N)<
M`(U13;H)Y!3@*+."ZWU4-N#70XC82AMIE(0A&Y0A*OF[4*5^U<2-_P!9PJ=5
MZK4I6YU86]OZG%JQ6JL.W4)CW"\OV@PJ,W(]Q;+19>F%T1V2EQU!6ISVM^F_
M10U:@4P1>&YCI;CE;+[+K[3#OM/^PPAL/H4XA*I#KR6OU$_#U^`T1;)ET/-J
M<1V*2$*7W-N!QD%)2%(7(2D-H40KY?4'8Z(L'\T;]]QD-*2&U%(<><#`>`VV
M6RE2%%;:]_E._71%;$EMY#A0>UTH<6&R%G9:'5H6VIP-A"7$(`7L>NQ`]=:N
M.EI=R")-39^.VC,NDG6E&]&LD*II<!-I7RG7DR4EN:V]&<<;6A#C9*/0D.$)
M]=>>N[O/%937<2Y'85TW*.+<E=EJL<*LNR!8N-M)AY5B5X^R[72X+Q6%R7<=
M2\F([MOVE`VVU66\W5N`!P*=BP^.\(S"QS7..1^06I%=:6%FU48E13`V\[0X
ME6_4MI$5;:ELH_>)YQ#KX'4H:2#UU[F;_B#N6%)="2A"$%9<*4)!6=AW$`;G
M8=`-_3]&N3/(.Y%5K9$:(L9Z3].M'13A]IYQ+/3M=]L)#B.HZ*4EP?R:XQ5-
M^T=BUNW#^GN;3&I4)<4X^9Y0=SJV>RJ7$M_WV7.I"F1(2QC4RN=_+4U)C)E-
MM267DP@X4NIV:]SN;`42=>GOJB,'L7S>/:C<7!=C6OXJ:T**^Q'9;D.QW)26
MP)4AJ.!]2Z`!W**U%0!/Q]=>>JO86MICCS62D/`([U()V5[A2DCO.X["-^O0
M?CHKL0])M>!5S181HB\^;?T1Z]/E&_\`+MZZV8W4X-YK!R5B7*1"8<E2&UAE
MD)6M:2G]B`H;NJW(W0V.I'KJ!NFZ"V88#R4JVS2&I&&+B]O;IM+B4N*;@19+
MFWN"K=0I;ZJ\I44M*D.MIW)^"=>0M[#U<CIZ857>^)\%<]*7#\4/H4DNK2HI
M"1\B%=$CM222-^XI]?TZ]-:,],*9*O2(M<3KG?I),]F!8JKT/MPH\B(CVU&0
M][SK3YZEQM;WS]0=E]?35[;7>/*B\C=65Y:.,M#IU$CXFJ;'CG,\DJK>IP3-
M(*8=U:/938PVH4P3&F8,2:17PYR7`CZ5]^*L.(]L=O3M/KJ?=R,D@K3QU&/<
MN&W;Q<7%Z+*0G30GY*1C2BON/8I(0&=E$C99?:]T@`=1[?H=_4ZJ2O;6?%5G
MU_E_TSK`7:X_<^`7FLK@J'$>X@H/805()#B/<;(2M*RE;?<CN2H)V]1HBQDP
M(Z&W(Z!VQUK>6E)3[G:)"@XXD-K5V)"5CY-CT3N/CHBQ&*H1W`I#J2WWGN;2
MV6"XSM^HMQE86H]V_3]71%M4(2VD(2E"$IW"4-H#:$C<G9*`2!Z]?Q/71%5H
MB-$1HB-$5;B4M@$K!W`/IZ;_`(Z(K/N(_MAK=DG2.I<9_)\5COK.P<;0'?:!
M+B?=;:[&SMW+[G2!L@#T^.H%Y=Y\E%31\G\K\>\68Z_E')68XU@6*-E2%9#D
M]@U6Q2]8H,""&G'`HOE<PA)"`KVT_.LA.K/8NA(6RD5E)'RKC]%SO;JYL=LF
MGB)`T&GR4'_&?R-3RIS=S-+QC),@SSC*]LJ:-BE[4LI?Q>@./H7$R&&JR<>;
MCP8\V<T'5)W*G@L*1N->KW.&T;`2``X-P':O@GL??-_O?=3\7&W$N)QRKCQ7
M1"%G=),</TMSCTCW'UQ(:8UDRI^5+3NVJ/[![7(VTD>T%+W"E'ITUXVF"^\;
MA='U(/"J5;,UQX;N]GH-@VX'-E`E+J5*'3=MP=I_$C4:XX*X$W5B;V*][X_M
M3_*-15JKH/<`?QZZL6>0=RRO=;(C1$:(C1$:(DIE^,G*\8R7&_JTPTY'CUY0
M*EJ9$@1$W=7+K#,$9?[*2Y$$OW$(7\A6D;Z(N3&*?;W\\\'QBAPS%/NHYW58
MSBU9&HZ"O5P3QW/7%J(*.R$RZ_(*5./M()2I0&R@!\=$69;^!?W!;J(_`G_=
M2RR?!E1)$*=#L_'?C*973H\F/)CNL2X#BE1Y;#C<C8I<!!`UG"BEW#+9MHV2
ME):9X8_BFUC?:>\F8CB5Q?/.F@($?Z%2*SQ3X@KMHK'<8197"AL%MU!=6%@A
M22E6W4:CW,?7MWP\7-(4O;-\N(+=T;:]*A^2VE3]LGS%Q2.D8S]Q>)C[[.0J
MR2'.@>*?#K'Y7;)CSX<:SA(;AM1ZR>Q!F%M4M.RR2?Q&H%CMYMG`T42]W#U(
MIS7/3EM?W-N&?+:XP.5YK9[RGQ3@?&M+R1RQE%9XVX6AVBQ+(4V)C5\?+I"V
M8T>V5;PH2&:SN<>2E3KQ`;VU=/=J`[%5V[=.HGB4D+OR,\E8;1>N?-3F[&H3
MW%$[EA-;7>.7%%].F(GT?[PXHU/H(3,BQ;QFRH7T*.2'VV(<I9@K4ESNUS4E
M,G5<X9IY-5N<\>\I^5W+>?QN,>-9/(F38D[XX\,Y3239LJIA6\*GQK(J^*W6
M751E5=,:0)T9YV*JV0J.I14THZN9(;0P@FFJB)WN*N>_,2)D<3BK/O-#EKA&
MWD<C5W$'`_&^-\)\4WD/+7H6*8S<0:-MC'HJ&ZRYQ;';9N:\CN2PY%"R%**%
M)-,Z.W:\F.FI%/V7A/F'P']Q7P1QOE+S2R/GO$.1+'EUJ]QBTXXQ;$$R#7XU
M<&"VJ32J4-XBHH"DD`C<;'X:(NC/BXCL\C_/N.E22I7,O':/;4X1V.JX9P=+
MB4G^Z*0ITE0/KUT13GE?X)+_`-R2O]H<T11$\"?^3#BW_"SD#_.ZWT13"T1&
MB(T1&B(T1&B+W^`;_H'0G]`)Z`G6U>P(K+[A:05'L0L%(]IU6Q.Y`_N@^4;`
M[^FMF2F,Z@!5%4VOO3W'LWWV^1P+_EV'37;U;^345+SP83WE*5C^U]P(6?7I
MVE)Z';7%\ID.H@5166Y1=2A:4!*5[$))*B`?AW=-_P"36NKL"++UJB-$1HB-
M$7A3WI4G8G=)Z)]3L-]AL"=S\.FNT'[HJMF#4X`J-'DAREBW'O"_*^:9A-G5
M%#B&%73\O9$MJ9+DW5?(I:J%5J;9[G9LB5/#*DI2M>[@4D`C?7FM]F:)>BZE
M/MDI`@;QJM;XMX+=XQP'Q32Y'(2BXJ<&I*U345PNJAQ6VP^(3T@LMM/OLN$L
MNK0A)66RH[E6^JJVVZ`NU:G_`#'Y+C(QK#0*4[)5V)[O7TV'HD`GM`W^`&O8
MV($+0&_5<E&[/,-M,\Y3Q['K^B?_`*-L>ICES<R"ZJ&J=GU=>ICU59.D-*]R
M2S&I_=E*23VK6D#TW2>AS64Z%MQY1WS,R%;+FSHTZ3538L<NH0W5NTB`B&(9
M:;0M((ZK2LK"C_)K")#9WP+`S7(6\C3GO(^(OHK6:LUV*WC42F<:8;+:7U5T
MAAUE,I0.ZE#H3\!HBW6#\+0L.Q-W%F\WSF_:<L$6+5QD=NU+NHKK;H=+<:0V
MPAI$=Q0V*"D@#H-M$6VLN/6IU5F5*N_RMN/F$F?)ER(TY;<FM7/B,PW_`,ED
M)1M$1V,=Z=PO9:B?P`:!(.FZNDX8(F5J?"_@*MMJ;)6,/FNWV/K:<J[!=U8/
M3O?0KW2I;KTI"'WI4T!Y:G>X>Y\.WY=4.Y[9#$VD9>>\C\D&:T-[D>,4?/AR
M'/Y"<6H,*Q"30T5A<P'XF*VSUS<,3W7H=LSV17FXTA`;4T0MU"P5=W:0-4VU
M11ME>ZY)!:12GU63FGSHN:N)KN844O(.*6;D1,N1,*+8->[&BK+#TADNM!#H
MCA*$I3W`K^`Z=?5NW"!T?2)\*PG1A3!+80MIUEY2TI=0IC]LPZVX.]"$/H<*
M/<]M0.N\-S9O\`<:C[<D/U6QZ:F/MW:-4>/>F*]_AUS:&M_>P[D[E9=:+G4#
M<]BD)7ZJ1W*0I11\`5=@!_1K0='K">$DD#BH5S,XGTQIH(KVI.X_A=-C:[IV
MMC,1F\@M9%U8-%MO9<V2A"'%IV2"D)*-P-]]]3);V69H:\-P[_S2TLH8CJ;6
MI2GVV`'X:AJ8P",^%>[Z+N^9SVAI`H%YHN*-:%L[?&0.EP^U5P,KNIHPHL29
M*9CLN+6Y[:$-K4XX>OMI2DE:]AU/:!OKB[=;&V!<YU)6C#E53Q"PQEU36B13
MTEZ^EJK$>XBK:4A<QYWL<2ZIM/N.U85VEM;B6R%K5ML4G8;'7B+V23=KW]/R
MD\%S9(6&H2BA1X]3&6F,([+++"4H9[&T+4TT5EI/REON<7WG8[?#7M[';)K*
MW`8*ZA4U7&\O\6]6E:+3V/(>(TKT)BXOJRO=L$#Z9F1*9;=6_P#&*EI"G7U/
M$]`.P#79UE.XXA0O7Q),WW(6,QJR=-L/W@AQ((4_-=_(K9;0C.!2D/,R&8X'
MLH1\RG$@[)&XUF"W8'T)-5*W[<G,LPQ@C\HI4'EWIH&TQLYYGP^ZJ[JSLZ'$
M:Z8ANVJ8+3E>NVDMQY\>NN+J2VF6^A4$?+VI']J3N=]6DT0;;%]36H7B]F@$
M^Y^H>#J#7998J77<2HGT"D(/8.B`4CM!`^!(.JU>YB/2\OU7NBW>\O.HYHT6
MB-$1HB-$1HB-$1HB-<)97,(#:+HR)SQ5J]_E_DUR$\A.3?JMNA)R28RFZ%!C
MV0Y"Y'D3&\?H[B[7"B#>3+145\B>N+'3LHJ??1'*$#8[J(U9R1-9&7`G511M
MT>+,@0XY9_8+A_P5]\+C+DI59?<I\7S^$^-\TQ[*LAXYRE6<4F<7ULO$<M@8
M9)QC)\,A1ZFPQ7*+ZWL4&LC/.E<I*%A()&JJ265_@93-0([B2=E9``*\`I"2
M_N[>&3(P],W,,B2[E$F5'L82L+MY,G!50[IC&9C/(5<TQ)D4#<6_E,(4X5=J
MT/=-^TZRW;'W7GJ.Y3H+=DHJXE<M?NQ\S^,7E1AQQ$\@<BY%<\4\@XQ+D8MB
MU#,H\/SC#[?+*3!\C=Q[)+URIIK:EQUV[$6T9CR(\IUQ/RGN!ULVV.V/K$YQ
M>.!R_!=;R".2V=8.'Z+A0GCCV_P2H\6KOQ<\087-W'N.<RW?(N0U^:\96V9<
M49#`EX3C6'X_DS,+$\)EXA[$:V?N:T*J'O[XCNRTK=0"[V[DZC3;SN,L[(GA
MF@NH:`Y?-4&P>W-M]NRRS68+WR@UUT-*\10!=(^3O()Z3SKR'@G#GC:_R),\
M=X6.V',>8+S:CP%C$C>XRWE]=7XA33Z]Q_.K9RKWD%(+8<4GHI)U:*9-MD$S
M^HXN![*?DD%PI]ZSQOY8S7+,*O<8S+C*NPG%L<R.VY`OZAU6`3I%]1OWZF*6
MZ;C,*55"!$6AF9)2RJ;+4`VUV[*5PG#2!56$43(XRT5P75K`L\Q_D3"L2Y"H
M):UXQG6.U63XR[)BO19<NKMXC4F$^Y&>[76T2FEAQ'<E)"%`'J#J&6R'R!1;
MBYZ7EI3M2P38H;;>]_VH_P!,VIV0X_(::;81W`-%86H*]E\'^Z_J(^.K)F#`
M'9TQ4F-Q<P..9"K:G%:`Z4`I4MXI"%!8,9AP-B0EU.Z'$2=]VRGH1K8EO"M5
M(A8))-+LJ%7I4@-CN96V`XMHLH<W4XIHD>\0E)25J0G<[#T`UA073/;<"'#2
MJ7Y"VB4-^R\M!;4$I7VN267EE*7([)5W[,('<YZ]/PT4Z5@813(M!6F&2L*F
MI@L(1-6V74S%Q%^ZY&.Y1'6Y%25.I94L=5_J[>FBY');)BP#K:G%+9;=95[3
M\0[J<"CZ.MN!7:IH`^FQ.LT4;K.[%L6W$.(W!^;\/AMK"WCD<\T-**O1=E[O
MHN<L0F;I<33L7FLM.EP<,PND=(X'6[?*X4KQ5#B$N@!3:70E:7/;7W=BB@[C
MO2"`XD'^:K=)_#6[I"[@%';;1MR+EH).,5TU<Q4F''?%DVVQ;MO0X;K5S%:C
MIC-1;5MQA2)S3*$?(5@J1N=B`=M1)9'1X#BNX%!@FUY)X$XXY1Q/+L/R;'Z9
MN-FV'2<!O+>#60(61'#Y;;2'*"!:,Q@Y75+2V0XS&:"6&G=U)0#KEZA_(+*S
M<+X8XWX]Q^DQ?#<'Q>KK<?QBMPRJ2W15C[PQVK0A$2J>>D1%F5"4Z@/%MSN0
M'E*6`%*)U)<TR-Q)1-QF7B1Q-FO-/%/.^00)K>7<,19C>#UT%^%$HV;68@LN
M7-C#CM%RPMHD3]BRZM9*&$A'ZHVUQCMFQR=0.<33C2GW(H2>71,?[E/VT4I/
M<H3N5V?=4E`=4?W:LHRWU%"4A3[H65*40=U'\.FI**2OBVH*\E//U1<2EQ'-
M/':@.P%2C_0S@R^XJ]0HJ5MHBG+*_P`$E_[DE?[0YHBB)X$_\F'%O^%G('^=
MUOHBF%HB-$1HB-$1HB-$1N!U44A(ZJ*_U`!U)7MU[0/7]&B+YW?NX?<*\N?&
M'R+\;/'KQLS[QSXN:YLJ<NDV6?>3*/8PVB>Q&M;G.(M+E;S*(LBR>6D1R%`*
M"@`.NB+4_;$^[9SCS1?^96*>8<O@*QPKP]HZ_)\F\K?'VZ<L>$+*).CBPF59
M<FR%^[(@P&P2J..YGW4]VX4-$4LJ?[O?CCS-QUS&KC*[Y(XCSK%^&L_Y<X^G
M<Z\0Y!C<;+L.Q*,\Y-Y"PFJENQ7,]Q>@1V2'4LNH#D=QI8_6.B*87@GS5-\B
MO%;B/FJQSFMY%GYM43)<G+J7$Y&#UUZ8TV:VB5%Q&SE3%4<5EE*/=<]YWNV'
M7KHBF)HB-$1HB-$27M;KZ!;T=USVD*:4O\P7[WTS4E([T,(,<>^ED`;N$;D)
M!/XZW80'8K9GG"YLS)O)'EIR-79;8QL?3XEX7E5%=\-1$6,^1?\`,?(>-7ZH
M%KE>0Q(K3L<X'2NQG'ZIEKO9GN_.\`ALZ^>;]<DW5*UQR4X8#M73.O2F/'98
MCK0IAJ.REI30;0A2$EU"5>PC^X*V3L>W]DK8=A(WU9;4\R,U'[8*+-YO@M!:
M9BQ`R"OQ6,$/Y%8UUC>1H+K\AHRJ>HD5L>Q>84Y`=B)<:5/`Z+)W'7KN!ZNW
M\H7'@MQ60[=E?N6=F[.^H]J0R`U%/LQFE*;;8<6@I[O;=<42H#<[G^#70YHE
M"A(;)4@!)4=R1ZG?6$7J_P!IMW@*V].X`[;^NV^B*GL2/1('Z!T'\@VT15?#
M;<[>FW<K;;\-M]`:8HO0%$=J"$_$;@$`CKOL0?3;6'1"XSR3):1^`Q(2['FM
M-2XSBVW3'D(2]'+C:_<0OV'.YD$+`/0>HU6W>U$:3%VI4I`YMQ!Q[G]2JHR;
M'8;]>N:W;NI@2%U,E3\%:G@M1C-^W);]QTJ]KH%'?<'IJ%_2Y>*R#S2`_<+,
M.,F(\'C9;60X7[JIJL"O'F:RP7(7\R'ZS)'%=U2PCX,J3T'PU$DM);']2N&:
M#[UGW'/+6)QH+&>8CF./W<]26A6X]C-GF,-3BMNP0;FK267SW=5;@;(!.H+O
M>A@?T'5K]NU#AG@G-Q[,X&2Q?S*J=<D5DB,':Z8ZVN&VE;"D,V+5@E\>^U(B
MREA'MJ`VWU?V%Z[=\17%/N2J8L6B&VUN]CCF_P`[;@<:=(.Q4UT':!MMM^.K
MKTGI/TZUKBJRYKZD'_*%L'$I<`"E>ZG;HH_'055C#D%[HLHT1&B9Y+'6I;;@
M65?*K;9&_P"`Z[#;?4#<MV9#;FW`\0"BFO6/?^"1,F6N[+L&N*G`P7FK&2'4
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M3\]:7K!'L3-I/;&DH"$_$)&PZ:L+@CTI'\U0IVT6P8T2CDG\4`'-AT`2/]35
M4KQ&B(T1&B(T1&B(T1&B(T18,^08S"W`I05V*V2&2Z`!U*S[>[P4`/YH.I$4
M+9!4BN*K;W>#MT@BYBJ9F1SIAL><N*_.L8Z!%DH7,%-9*IX)KU*,Z9:3G4)5
M##?:1W$;=O777TK!B6J`/=;2:`MKWX_>K%MD=AR7B5Y78E7VP@Y316E369.Y
M$CII%-6E<_"<O`Q.(D3J9#<G=M*!W.+`V]=8N*",CL7:\N'7$@K4@@+DQQ[]
ME/@+#/$_)O&;]XLCL<SY$RVGY`R/FV/5&JMK3)*'))&98_*;I(,N-6XW4P;=
M[L;B,OI]TH[W@>X#7FKFZ;:-$I(\U%<&`,L6D#'4/^BU4K[3V-YC,D4EASKD
M[%_QCA;U!D>4XA@%-5HN,GRC.Z[E!<_]UYEK:47:S3U3<9YESO6MQP.G=02-
M2;3W`#W_`!76SJ&IAD?:CY?S#D[E?'<FG9OA_C$Q%DL\,56)Y7AF19P]>7_+
M-9R+?7UG'=JL>5"QQR;'2Y[-H])DM+EJ2AL)2D:Z2S^LGZN(!72<UDKV*2^/
M?9LJJY_+(4SGS/[?&K6#C=?@]?8XIC#$O#ZJAY#G\BJJ;>YCNB=D]E8V]V\R
MW,6E+L5"?;VU/9:1:=?\X7)2;Y:\#\YO.7N6N5>&_(G(N'Z_R(HZO'.=L5A8
M50Y(O)HU+B;N+FXJ+"3)BR,>FKI"I!=45.!X[)(UIBL+FIY+_99S,XKR-"XF
MY>N<IIN7L%\:>-.4L2O:.KKYC&.\!9!BMU*Y`Q2S@,K_`'CR"QQO'2PJI[VE
M2''.[O[6U),2Y)#F#FHMS(Z-HTU7;C'KFFIJK$+2!ETDU_U%!BB:N6FMBB#`
M2T85#CKE8W*E/U]W)C-!E?8$(7(:<6E*>_7H]MM(YVTPKI^Q7FKNX<N?/W3<
M?YT9S#QMG\(<LKX_A<UY6CQ2Y2K9<-^RCQ<%Y'GMV4G/\;C"&XJ%FN+,4TF+
M$5(6F#(5+:+JTD#7EKN?I7#V5P#B.Q>IM<;:,\=`7/4_=P\DJWE#E3B+B%VD
MR&AXUQ"_PC'Z/.\#NJ++<"RG`,WPG"(%[FK$J996=ZO(Z:^GV##;9CQ+`QDN
M,++25;H)RZ4-/%3;8@2XD#`_<E+FOW%_+3C2TPS),TY2IYT3BT^5M+;N0>*6
M8M=RO:\?46`2\*M6Z==JW,;>@P\GGN+3"*FBB.HK!]-6*JI/^:.5$Z_VZ_N(
M\Y^37D)@6/9]/I<VQ^%E7+N,L<B8G4R(4?)*B%BN,9#3R)-1%IV8*##<MW(3
MI:)$8)*U*4HG2N*M[D&K?]`6OP?E/":Z]\KN7\BY>S+^O1CLOG"LMO'R+&L9
M6-XKA5#=2(7&\R?BL2L,AO%T4C,5YJQ(!G+>4D'11C6BBGXO?=`\TV;;Q-XE
MRODG'>6<Y\HLPR[#J=Z1Q3"I9W'N589R!+@95B^:,U[L!<*DA\:HCV-7),%,
MB0^]_?)2GKK*@+Z[(#[:G%,@*2I+2'4%*0ME;"^Y+*7G=]V9WMH#CB/]?^C0
MKM#YL.2V1.RMM_YBB!TZD;?R[#6%)J*TXK1/V,AE)5V)<:!6S[R9`;]J4M1]
MAN2C;^Y*&WI\-,$H5DHG20&T/-M)6T$MOE*ALMQX`=R"3\R6R=P?3;3/)8J#
MD0@V"&GNQ]]3+*$EUU]*VFPEI'ZQ#KO[/KT_A^&BRKOYHAGK(=/MN@&*L2V#
M[B7O\#)+(5_=2#OOJ+<9A%B/6VZ_:2I*Y"MD-L(<C..*<9_PQ*5N$$^V>@&Q
MVU'6*A7'K&,EM$E#[J(K"$*GA10'F`^/[U20D@!3QZ?@?AJQ&0[EE>LO)+*F
M-DMD$RBEU"??V?22D=VP(Z*W_2-91<EO,+_TEGVTA\?S7ECI_P"^.?\`]G1%
M)?Q4._DO]P)!V*1S%Q^H`@=%#@[!%`_P@]=$4XY7^"2_]R2O]H<T11$\"?\`
MDPXM_P`+.0/\[K?1%,+1$:(C1$:(C1$:(L53:RZ3V[@I(&YV221T!(W(!^)^
M&JYWF/>B^9+[W7@)SAY3^37BAREB?B#4^:'#O%%9F=;R#Q1>9I#P2OO[&XKR
MBI6;H642Q^DAS%H4I:4[GVB-MCJ1:/#)JN.%"BB%XI_9R\P_Z-?N/8=6\,8!
MX$<3>6G![G&W&7CBWR+8<DUZN4GG&Y4++K^_;KWI$.J:9KE0RTV]^U1(;"NB
M=Q:FYB.9Q1.EQ-]OSR'N\2R&%GGB;S#A_(W&GA?ROXW\:\B<M>3L;/\`'I68
M<@8FWCS6.\7X-75YCTF(93.@$/2K60HPFBVA"!MW&/(\/=J&2+NC]J[@GDSQ
MI\#?'[A7END7C_(N!XQ)K,CIV9C+K+#K]M,><B+<CN/,.>VE22E2%$*1L>GI
MKFBZ(Z(C1$:(J"ZWNM'<.YOV^\;$=ONGM;ZD`$K/X;ZS)Y?@@4;.3^:>+Z]>
M<X-(R:HEY75XSDCS.,NEVL^MDG')EC(QQG(.\L)G38:=OF("0K\1MKSUY)T6
M]3@%*L_^0T=J8WP2QVR/CCX_*M8$VE%7Q;0V,+&)KP^JQYF[7)L6<8+9.TMC
M%H<L1D3">^24*.VP23\\?;NFW07%#2M5WO.*GL0F+'<A1&TI>BQER&&''2T9
MC+?[6.D(`*W65N="0/E^.VOI/5$@CID&45=S388CB>0S,AGY[F*JU=]/A+J*
MF'5.%^NQJD7(6ZZB`M0_\9S9A:<E`]`EI0]1MJW@\H0IX`$@`(0&D``);3^J
MVD#9+:=NFR!T'\&MRB])VZG1%X"#Z:(O=$1HB-$1HB-$6M>BM+=6I4=2BI6Y
M7TV)_MO7X:X3;7%.*US_`!^"*X[%4&G?9)]SV70UV`J6EU2"EM2`=QW!1!_1
MJK;[6A=,'O\`(`?MDHMVXL@)XU"@GY!9/R3P9(<R;"H29.,9=/>E9922RJW>
MJK9EII#+>/L_LT*BY($$R@3NRO\`:#<IVU\H]Q>_]QV7<OZ+"P]+53+^/X+W
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M<RB?+-1;:R=;XG@EZ5I`4HJ2$H3W+45``)W`W))_%0UI9P](.[2K%SM0'8L1
MY0]Q0WZH">[X[;C<#^34U:)LLFF2<FEVN$US330%.V]/MWWMVD)EO^TTVW`[
M2TM]H@[%?J4[[;:Z;4<2.T_>O)^Y&NW*D<?##Y):5-(W7-5C8D.NFM@-0$'<
MLJE.MI['9,F/&[(A#@&XZ=#J//\`\WYJYV6S=:V`:[-*57]T)^&P&^NBLT:(
MC1$:(C1$:(C1$:(C1%JK8#V&W/F"F'.\J0[[2PTL%IP'N"FBWL?FW!U-LKIL
M,G3=C7AP5=N/ZD+K<9EA_)<P>6)&>R.>Y%?/QF[A<91.+\F7D;,@0D8A+K'9
MS*_SAMZ!+AOV=EV1V@ZWV]R65[;'5[N6Y-;;`5QHOSIL.QSQ^]WOH0*_,5S4
M@>'XV8<R8PSEU\[E/'%-'7*I<3QC%;MF`VY317XK</($/0A,>9<GB/L(+I2E
MF/LYW=XVU\YN!ZBH&:_16WP.C=J=Y4ZK_#.3R93,$\Q9LUA@3WR:/VJE=N\K
M;N6VG)S'_-64NK]0#LOXZI)-JE>:XZ:KTUQ,Q]J&THZHKW!.%C&!4.)05U]8
MQ(=2^[]9.G6$J7.M)]@YNAV3-FR%J3('M(0E(2E/;L?T:]%M4#K?/!5:5B(#
M3:0E"0E.Y.QW/4^IU<RNU/)19R8[82GYD[@#IM\0/TCUWUJPT<#VHO%J2W^N
MH)_T?HU*]5%S1:^64.>R0])0&BXH*B);=4API"6U+BNH/U"`?@DI*=0;V.*\
MTNK4-75CJ-(YJ)O+/%T'&9-'R-BM"S.7&R^MNN1J6-'DR',CK5.%*KB-']X&
M-=U9'>VD[-I&^QUUMWV]N,2,LUY;=+!T[M0KFG*EY/QME\3ZN=-I+5..2&[/
MWY,1IZ;C=G*2167+ID0)OT\Z$V>QA8('K\PU%W.]LW`-#A53M@OI;$&$T-!1
M1US"DX,^J1GD#'\35;3W!%R[/*G'*&B7=,V;CM(]"N[R76*EW7T#T9AT#8RT
M;(=2X4]3O;QP/V\N!PJ/O7E_<\5SN%Z)6MPU`_<D7R+G?&F`<=WG*5]1\0<H
MX1&GF/@%_%QZNN+&5=9$W&IKO&GFHL-RGE2;)*1'>>@`%Y*_[Z270-O8;;ML
M5S;:0:$#+#'M^W)4?NSWS<>W;>"&F5,_^H4H>$L;XF5@>)9+QWQOC&#Q+*,J
MZIHV/XY38[(J!<D.3X\>3%KXLQ$&4@%AQM20OVT]>NVO+;M9BQNNB#PJO:;+
M[OEW_;F7SP=5`WY?$I=L<6<<1KZ]S"'Q[AS.6Y;"_(\PR5C&:Q=_DU"ST@4M
MW:?1JM<@IH:@`(TETQBVD;I^&JP9C%6_]3D=0'BFEG>%?CG;\R<;^0+_`!/C
M,/EGBIN\7A625<5NK163LJC?2Y+;*J828,*5<VL=(;7)D-NOMI`"3MJR12?;
MAI2XD*':0=QU_G#\?AK4J593]"X:>9HM18O.M?6[Q77?9866W(P2J1&+@*)$
MC]8?L"P.T[;GN4.FM@<-/!:FR@O?<\.LXZ@5\Y_+_P!WOEC%?(R7P>QQM6N8
MC?3Y&&"%CT2?(Y0ILKE73%*Y#G/INVJNND.5,M<N*A+8<.X40>IUX+?-SD9?
M/@:,G4^G>OV+8?V-VBX]N.]P.EK)+!7/CS\GXJ&=-Y4^5BL-RV!(O.5I=QXA
MW\GP4FR386K4[DW./*ZR9KJ'E^T5(K)3OYCQPW`B.U[B-BE#CI`/37L_;KYY
M;2IKI`7XUW#:[79-[N((W5:PFGVH$^U_Y?\`GAQ[EO./`-C(QVN3PMQ_)QVJ
MP+(JV5><CYQ78]45DS#^9:FQBQ9+%ED&6WI?A/\`U%A%JW&VTI]I#@)U.O`!
M'49$K0/]0:#$K5\9>;/F9PM-YLRK)9&;\C<=65)R/D=1QB,":F7O'668=2\3
M+JG<=NG)4!Y^N%KE,EQV&HOQ&_IE>U[B>\B#;Y'O5Q8;<)&.,F&.'R4IOMR>
M6GDAY$\[850\J6=9F5+$H_(B-'S6OQ=VDKLC8K+;#++#9:I$68U2HN($BZD1
M3(993[OLKW`(U(XXJ+=;7&"HBYGY;9)A594S86=\N6'G]DWD\]@W+W&WMVV1
M\?8Q@JN1W\?H'Y.+EX8V:BAQMJ(JIEH?;><4^^IU*OU20#2`W@!1*3@?[@'F
M-BO(WC3XL7&?-<E<C^7'(?(T+%\^S[%*J*_PXOBCEZZI^2L,R6!5R@[D$>9A
M<-L4,I;/][-OJW_5T65TU\N_VOW)/MI3.T;2K?E)Y*B/F2XK&9")8;)^9$5Y
MUE/MH^'MG1%)CQ4Z>2_W`EGHD\Q\?I!)]5'@[!$@?CU5TT13DE?X)+_W)*_V
MAS1%$3P)_P"3#BW_``LY`_SNM]$4PM$1HB-$1HB-$1HB#Z$;D$I(W!V()&VX
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M]##5#GB/*ALS8]<^\9,CO_8207``E&XVW.KZR#^IH?@Y53F%AH4MXA2EM"$-
MLI*C(=4B*A*6D)#J_<7VI4?G[M^_^=W;[@'5^^5MHP&2I[OXK57`\5$!+:E[
MGY>U39*]_P!7M3W]Q*O@-M]=ZUQYHK;\D,J;:_5>?=<:8&WOH<]E/>Z>YCW$
MMJ2G^:OM6=CL-%JYP8*E>-R2>SW5-!3NWLI"DME04I:&U[.>W\CW9N@_$:S1
M<^LWD5DI5W=W38H6I"T[I/:M/ZR=TDI.V^L+HUP<*A5:+9&B(T1&B(U$:V\;
M(7:FZ*X9_DB\5OL>W<$^FRBC;^!202.FK!\\QATLIU<,3EVKC/&98RP4K@D=
MD.&T^107ZNXA*M:V60)##[RB\WO_`/1,5TH46)$96RVU#XC8[`ZH;KVWL-Z>
MO<Q%UW_B[?FKJTW.6SM^E%42<^"8VBQVEXXY(&#M6$I%-GF.OW]?5+?<3+@6
MV.I2W=/0IC*%/26+E`2Y-!2.Q)W^.J]VW^@&EA`B&0"C2RW%Z[K3D%^7P3KY
M?R%CO'M'+R/.+ZFQ;&JXLLNWM[*8JJM#SJ&BTIB1)6A#T1IMYM"74[]^P^.X
MU;6&N<>'@,:KB(7$YA9&/YK#R;':_*:*?`R2HM:B'=PKO')<>RI[2MFH0XS8
MP)3#I2N*EIP$.+"0X0I*.Y22!8VKA=BL>'>L]!U:5"4;4N>M(6]'"QW-.LI8
M;6"ZRAQM]:5A2$>TM^`%+1W]H4#V[]VXUU,C;>0-?4DX8*)>MGCB_1<`XFG'
M+Y)I,6BS[^I;R3.HS3DR2+MQR"XVIV-'Q^!*F28<V172?9=9DIJ_8/S`+3WC
M8;:F/>&,ZE#IHJNQVR=TO5N',+:]OY)0U$;#,FQZNR2HIJVPJ[V"S,HIK3,Q
M3DB&2AE3D>R6II->7$E*$?S5+4`DJ&YU77\\%W9AC0[50YTI]%Z!T`:[3'0-
M"9U-59XA=YC;4DFFQ*MKC(5]/DU4_-A.0HU?(MGI[N12G?K*V-*8C+;<>4TE
M&^Z$%2M@?&B)ULXG"BZ01Z)FN?BVO#DLWQX\I^.>?L(A9=A>28_D#TVXML>L
M(U#(,BOCV>/%\S8@>6$=DJ*W&4M;9V5V==MCJ\V";^J2&./PN;6M?X57>]EA
MT^`%:3RO\T>,/$;CD<D<ATV0Y)#4RJ?5T.#I9M+"XB,LLO.V"&0ZEF171/J6
MN]87LD+^/7:5?[K;VDKH7,D+HS0TI0]V*M/9_M'<_>=^;#:W1MDJ,7DAHK_I
M#C]%E^./EUBGDIQ+,Y>QZN?K68E>Y/O<;7+K[&WI7C4,7359)17RI#*)ZX#Z
M0$%?;WI([MNNNNV7+-T=IA!;4_S?PJI7OOV3NW]OI1#N[HI7D5_2+C_^]K4L
M^(,ECY?66W(5>%.U_(-RU85[#ZD`UD&)#9K:Z'8[*4(DOZMAQQUI)4`I0'KN
M!;P6<EA4R.:[$Y5RKW+Y1#-;VUX&73VNZAJ*<*X@&M,17&BD"VLA>Y0H#TW.
MW3X#?KJKD<)+O4,L5ZZZO;*-C;6%VJ0BOAR[<Z+*<6&U=J@22-^FVW]DC79<
M&^(:ADJ/>3^"O['_`&=<7S:':=+CW?\`5<7RN:[2&/=W`?FKPZI"O0$;]?PU
MJ+BIIH=GV?F@DE/_`+4E.=!^:-2%V1HB-$1HB-:2/$;"\X@+!-!7-4J5V[;@
MG<A([1OU/^D/TZS`[KFC<.]<S,UN8(6IM2'&0V2EHA1*_>/M-J:0`MW]N=F4
M]J.NRE#?;IUZ:B;BU]G.R8D%NGA\>:@22-]6)!BS10T^?<HRYPS*Y'R.-QY6
M61J6KIN!-L)##<9V:K!X$E2K*PCS'%O"`BYDMHB);+84I`[R-NNJ^3=F[D!%
M$'-/^;+Z$KS=OM;8-Z_J5!TB<N.?R^JDO44L>F:#,..S!2EF-'0U'/<EAF,V
MAH,IV0VA14A&RE@#N/7;4RWLY&$&0M([*_DO=$L(\(*W>K@&W#::37X+F-5<
M3X4:YNT?R56R-<V'6_I_S(K3CH;]0HD^FVWKMT]2-1KJY9;/Z3P2XX8=JP30
M$\EB*6Y]0R`MI962DHW/R*4"`%[_`,XGT`WZZU?`YD)F<YND=]?N6D<@DRJM
M-8Y165B'/KO?0XA"U&/&2H6*5))`#</?WG>\_'MVVZ[Z\/N/NJW@E;!&'ZR2
M*X4^]38[223$$#OJDXS-R*ZB.*344L.LL4.LMIM'Y#DI]AQ.Q791F$=X4M"N
MC16`#Z[;ZK+N_OG1]9CP&'G7\EW%F!4.+2X<$Q=UX\JD.-MXGG%CQTTZ](MK
M)&/U%%+KI;D`[O2'XN21+B/`CME7HSVOD'?O5KS4?]:W"XTQ2,`KQK^`4`6M
MNV<Z1Q7!_D7$?*?S9XMY7YGXRS2?;0^(^=9O&&$\;4IQ&<E>&8['>HL^S-V8
ME,:D=S"Q6MAV.Q+:7]'$@H6RE:R1KZ;9V&\,VPM=+%JJ.+N?<KQMMMLD&B1M
M)#C4TI@>_P#!/KX#^'6>U7C+98%SS;9C5XQEG)\%WC6#^81(5A0_212(F4/U
MC$#Z")-L+]L.KEL-,I?5L5)&OHWMZ\GMX-$S@7TX=B^-?W$]GMWNXC?`Z,0L
M=4@DU^%`>2[M\8X/781B]3B51(GV;-'&1#7-L%KD6$MQD=KTN:^H!MQ]YW=2
MNSY.O3<:B;\Z2>\;(0<6!>E]M66WVFUM@C:1I-#EF,Z)?>['9>6%/M)V5U0I
M78I.PZ@I4-QUU3"*2N15TYUFT>5WT_-4.VT5E"EK6&TH[BZX7&NQA)Z,J6H.
M;$/G]7;<_CMJUZ#^853<;E#;NTO:XGLI^:3$_,<9@K(L[ZMC-.A+8/U;*G.Y
MQ02D)2EP[*W_`!VTZ#S@",2MSN$,;&W#FN+:\*5^]).=GE06,BCXY/1*MJ2O
MDEQAU24N):DLE+<M9)4AR.V$EQ!!.ZP`0/74UVUSLB,A+>?'\EY5^^3OWMEU
M;5;&QV1S^E5P:^Z]XOUV&2J?ECC;@.HR3([NAR"3;9OC#U_1\B9'S'!?BS,-
M1D>1XU;0A68N]$=>D)?6&7%2&TLMOJ/[+7C)]E]7N#I/#4NXU7Z'L?[G^YI-
MF?96\I%J8Z-:?Y1EP6W\8N4.4(N(<5_O^HLM9!GM4Y20.5H4JLOYM53P8S+C
M$E?LKG7EO2V8>6Q<V?OR>TH0E8ZD?6MFVZSM]K?`0!.6$!W`$\^/T7Y`W_W;
MN&U>Z-&Z:Y>O+2K*&E>>HCZ+N33P,!FWK]N[2XS8Y'(@O5CMN[34LF[>H4SY
M$F-3&8N,]+-8W*DA262LM)4"HGT&O*;G9O@CQ<UU.5?R7T[8=Y@N&=71)I[0
M/EFE>K$\8=]R7(I:E7NA49WVJJM=:`F+8,MP.)9]HS'T1TH<7LO9"0-MCT\[
M%=!A+2Q^?9^:]A'NC9FD0$MIG7C\JJW48QCF/F/546.T5.W7192*QRHI*ZC9
MBMRI"9$@0'(L>.PE$GO67DI^8N!!._PM88W3"H!`[5#F?<2G"1H^?Y+#<P7$
MUSK/)W<4QF%?S6XZK&]13TS5I;NQGDN0F[2T=:3(E,1`@>VG=)0H=%?'41UP
M&N+2UV!IP_-;S7++8-ZO'DD([XW<#2.7:GG9WB?"%<MTE1;0,>S\5?NWE-'O
MI$B5;"HFL^U6Q')CBTEQ;3/O+^8+<5\3)P]V@!P/T6!>0&+JM-17(9J!GE\D
MK^Y3]M1"2$I18\K!*.O:EF'C=I[0'K\ZVT**OAW'^/7==F2MDRJI)^+#8/DC
MY^GL05*YIX^2%$D$>WPM@I/H-NA3TT74BF"G%*_P27_N25_M#FBPHB>!/_)A
MQ;_A9R!_G=;Z(IA:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1%#_`,VN7,DX
M/\>.6>4,6JJ*[R'$\2LYE1'RI248O%1&B?5RG;1XEMM4EQM"FF&20I;SK6Z@
MG?69/+\$"XP?;A\R^9KW%_(?'<ZPB@RK*,LP#D?R;KN9,(BH=QNL"<81/P7`
M\Z2R@29-H][<:1"<:<:;C,=T8M*&SFO,;H&F!P?Y/XKO;.TS-=6F*CS+\YN=
M>(,-\.LLY=RNO\A<-\F.&L$Y&@\4JH(N-P>-><,EOZIFGM,PL<6D1WYF!(MK
MM:7:R8TZ7TL(;94M;AV]#L4=H;0`4R4N[NZU70*]^Y#Y%V?&WB_=TG!V%<?V
M'-W].V,9MC.:6MY'R3!6^#\8N[9SDG#(<82''<%:>HDGNFM1B3+BM*4I7N:Z
MFVB=>CI>4!5;9.H">U1UX.^[AY?.\18Y7<H<2<(Y'S=F+_&\GC3(HV4W=#C$
M['>0#G<Z18\CQ7*R*Y2V,>'B*4M"`MYJ=*D%M`]QM8U*W2T_2"V3Q^.WWG\B
M\@<QP_'(_"%)B\:[Y3XJXGR"1(R>3)M:/(LX.;Q<C=CUCT*L6:^DLL3937R7
M_9:L6Y1+>Y;)U$&`HB>WE[G?GR3S!Y<3<<Y=Q_A'#O$5K`&*?"+3&*.QC\LJ
MRS#)F3SKC(I-G/9C-5EV2J/5*CO)6%QG2Z%*2D:RN4WE^*AE7_>;Y=XWCY-R
M-SQ@W$SOC\'\0HL>FU5WD:,LQ'*<KX53G^'1<OM#!DP[J'DMVRBN:G=D<KDR
MDM-@ALD[*+FOHHXBR>_S7BWC[+\NJ(>.Y)D^)45[<4D!Y]^)5S;.O8ER(++\
MIMJ0\(CSJF^Y:0I7;OK52XO($X*B`%*^8@!1^5)6H@`GY4#JM7X`=3Z:+HL1
M<ET++;;*'UEIM;;:70V^XXZ0EME<=:=HR^XCN]Q8[=$5`DOJ[5!E20M00V%M
M@M2"C_"%,S67W8R6V3\OSA)*AHB]=DN)E,LM!A;+KS3*G%EU#C2G>XA79VJ#
MK2>WJL?*=^GH=$66VZAYM+K86$+!*0X@H7L%%/S(4`4[E/\`)HBJ)V[?4`K;
M22$*<(2M:4J/8D@G8'??T'J>FB+7HFR%K:;:3%_:H<]Q7U*AMV^^MI;2_IU,
MD+0SU25;@G1$RW-W&;69T;5W'L9U5D^"3WLAH+BO"V;>.S7E+\ZK!9/N.PK1
MN)V/M[>T^VKM4-AKSF^3]-P;V*5!Y>RJY]?<RQ;,>;/$_CBYP3CVYY'12<Y<
M(<F9#BF.LIFV4_%<=RZIM<D:BU@=09;RE1%QVVT]R.TE#B2$C7/9;NH=W+KE
MFN-ESP7]PJAY!Q23QQA/.>%\*\M95ROR3P/QIQY;S*&J\;^5,JY>D/TN2<VN
M,Q@U?X])Q>+/+-6L)AL1[)H(;24C7I-B`Z9KDJ\WCAP61D7#OG+Q?7YOF.3<
MI\U<?5N;<=<MO<[9EF7)N4R\6KL>Q+EJ'+AS\7A"(IZBN,DQ=4M5.J*GO")B
M$@$)&R^PG;3FH\]P90&]JN\3YCY&Y/QG]O\`Q["L^YVBR?)R7Y"8MF>-Y'?Y
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MJITJ4W[1275;K43Z'<-O$VX.'^+%7?LCWY=>S-W`MFZC+XO_`$T'XKN=X<>&
M.&>$/&4W#\1LIM]<Y!9-WO(^8N5GTC.1RDQW(<>:_0I>D1:RNA5KB4%32C^I
MNH*U)AMF[8P3C)5O]QO?GN/WSO@@BA<<J4"C!FWW3/&[QXR.TXWM8;^0V<#*
M5UT5O!Q%7`N'I\563M/TK+[=;#DI9^K5$4MP))DQW#T&VU)_7VS/<U[C74>2
M^E^TO_Q\N?<?M:7W`',ZD;"3J+LQF,&YBA^%%)SEC[@/&O#.0\,5618UG%Q"
MYI:Q*10Y'2P(\C'*I&:V$&MH/S:P>>9#AL)%DW[/TP?]SVW2H("-U3+242R@
MDFI!7D]K_MJ8&S[BQX>+=V@Y\?API]RGU(F%UM,AGM4V673WEIPJ2^AUUEMM
M^,%A^.VM;719W"NNVK,BB\E=@V]WZ<X8K7NVGTJ09;(2K]@O>,I$D+;<)2ZH
M-%;3S0:6.I4"D#XG4F*6W9&!(*N42]BWJ&[UV<3GVVEN(!([5L42GB4A;+9V
MD,-H#;W>"W(&\4K=2%,MKDCJD;D#XG73K6M#I&-/JND>]7\-(KB`@G`X956S
M!W6XC^TVV/X[D>O\NH*[*K1$:(C1%C.2?8#JG.SL:=2TI:5)V^;T<2%$=S:?
MB=];-CZIZ9XIUF6_ZLGD&:;S+^4L;Q)$N%*NZAN^:C%Q%2Y+6V],0XI*&D,K
M$9UM'NN+2C<JZ+4/AHYGIA51+F5M]A;I#Y%-RH8_5_F-G)C7>7.-0J/!(@0Z
MAY,C:2\U83%A2U?EL=/NO/-=@3T1Z'4&[+KN!SCPP7&WL)8&%LV;C5+?!>/8
M&(IF/Q2BTM;@HDV=Y-694B0I3:4I8BNK.\>L82`EME.R=D[D;]=5&UVGZQPX
MKOZ8)S$I*4I2?5("3_VHV_U->CRP4I>Z(C1$?]@ZU@_Y)^'W(L&9OL-NAVZ'
MUV/;T.WQ(U2[X\1S"0Y-Q^24K@HY6>=9GF,F=4\>''\?;5.D4]?E>1K5-F3U
M>Q$6FWJ,:1[:I<9#[KK)<4YLRM(<ZI20?%[EO5Q=`VUN<7?BIMK:Y5R6UB\6
MY)8)A/6O*F9OVL=*%.S6:ZG@RC(;_8R%-S(T!:5QG5I^1!42E.Q_3KSL?M3<
MO4-GGK20X5!_)2KL^G+0T8$+??T5Y)'5(5#Y:S*,J5LXXI^OJK%:5>A*5OQ$
M[=P3^&O:2^UKKT@P.`4'U)6OF\1S[3VTY%R1F-S4QYC,R97I<BU#<TQ$_L6'
M?RYMM_Z1&_SMI(#OHK7*QV@P/&H8C`KDPETE3Q*Y^\4(X\\$^1_([B1ME^MX
M]R*MN/+'`A,*0Y)9O%Q:KE6@KI23W6;=7<_3RS';236Q9:4J(!)UZZ23H6;F
M<J*[MK*;<V"TM_WGF@^&/X+HWA%G2\DXM#O([D:RJ;^NASX@:G?7=E3,8<^A
MC*F1W%1(4EMOJ6V"2A0W)W&K#:+HDYKSF\;%=V51<@U'/C1:VZA<BXG"?>PE
M5=D*XD6-"C4-\%,I;88_9(E)M&W4K666.G80I2U)W)ZZ]%)-;N(+_-2J\U:7
M'2K$,JK?U>.9?90XLRUS"=#GR64/3(U=!C_11WUC=4>.76N\MM?J@GJ2-]:=
M>UR:`O3VMMUF:BD3E7$N2VF1XH'<NE7>&1)]C^]%-=U\52Y\=QL&$RW*8=9>
M#<=9)0?748&J\]NMH#*#1.;68!AE2PF%4XW4QFG5?-'<C"8B2YVDA(^I#ZFU
M].X$>A&HUQ*8M+O\RL8K#J6=*<$U5_QOD3N;V-U4/PV,>R"L9Q^Q9E0DHEUD
M5@+0\J,F.VRE:E^YN.\'TU937=+3/@O/V^T@WIPXIWY-2;%,E(DI%>J,8WLM
MQ0ZTZ\U[*6)KC,AMU"I,7VE)02"GL6>F^QU1P'$2\UZ%DPM93;'`#!-]FO`>
M!\@V%+:9-`#YH6),:N9;4E#;5;(GPK00"M]$AY$9I^$`?;*%J;6I).VVI\N[
M/BM)&1DZRW->4WKV4W=KANXN;^V=0S6W.!5+C[,C&X,7'+6N;D1HMH*WZH*C
MR%I4I'TWN!+T9':.JNNVJJSOI9:"XR5_MFRMMK7*BPI\;E&H<KFJZVQR\B/3
MFH]NTUC3D9J)"<2X7["&TF26U3$%(W!W2?CKT<#;&=FIH`H<?M51'PSB1S8L
MJXJTK#LWDV]??Q^0H\;Z>)+ASH*Z?O@/P9#J5PS&KUO>U&LFFTE+JT_K$C?T
MUEU]9P>$\_MQ6O0N^U:G()-VS(BMY'EOT2GK1<2EK,20XP],[4J6P;TOM2$-
M^^E(*GALP@GL5\VMQZ1YU`8'''MY*)O4[YXVQQGQTI@JN-;#+W;*UA7U?D%>
MU"]DOOWLEB?&L)$_WW([=*MDAN-%:C("SV@DGIZ:CWC;<0DQ4U5'R7/;MMW"
M!@NIZ]#+XGX*!/ETG_\`V5?;8/X67,3?\2<5NE;_`,/750O7VV2DEXLJ`\D?
M/L=Z`1S5@![23W'OX:PAOI_#\/TZSQ4QV84WI7^"2_\`<DK_`&AS6%JHB>!/
M_)AQ;_A9R!_G=;Z(IA:(C1$:(C1$:(C1$:(C1$:(C1$:(J7%)883[I/>H$=_
MIU(.W3TWW].GKHB2ECEL&MA64DM2ICU/%<=?J8K7OWDMT*`:^DKVREV67%D)
M"&QW==$345',^19;;TZ,,XTRYS'95BW#O+W+*E>/-U+;3+ZIWMP9C[=@\XS(
M;[.Y*%(Z;;[[Z(DMSYC+'.'$UWQ\[AMI;-<I8UEV-O./!E-936*:>;44,O):
MB:ZE<V@D6,X+[5([-]CM\J2*V5USK(:\Z?A^2*,W@SQOA>+>%M)@&-X-7XWD
MD#%[#CKEVME!\2)6>XA2IP[*H^1/VOO39L%,&,VBL[R0BH':@!.^]%O1,6W2
MRRFK&@5^:R"6X@XIQN/?M_\`A!`Q*TBXOP/A!I\\PG&\3M2X[8SERL2K$L6E
M#5T,B=*E2*.MK)S)?A-0%QDQ7D)<:[5I!%K[:N;6ZM0R,`.IS_BL.\0\2<"]
M\&O%'+HV#PK?B.@<B\:8[>8OACCEA;M3:_&,A::CY3BTJ2S,:DV=7DP;2J8U
M+7($E2>Y>ZNNKWT\UG(2X^)V(/8M6L:S!HI59UGX0>)F08O/Q&TX+X_F8U8U
MN/U,RL$4PD1JK%#.<QBO8=@B+)B1L>7:251`TM'LK?<4GYEDG>6XFF&F5U1\
M%LO:7P@\2\;R/C7-*+A#!:;)N&X4:NX_LZL/PY>+0HR+%NM<AAA:&I3]<W;R
MC&<DI?<84^LH4DG?7%$<K>%'BUSAF"<SYDXBQ+D:WCP6H4N5D@>?@Y'!:*_R
MYB_IV'H5/?FB+JC$5,9>7%[E>T4@G<L$!PH<DR?/7VL/$/GK&&,0R3!Y6+8L
M,CXZR3+*'`)PJHO(+O$I0,$J,KC%N2S)J\?CJ2AI2"RZAM/:5D>A:=)G)=#X
M5?$@16841MI,.(VW'B!A*T,B,RTVTR&]SVK`;0!W)V0H@D#1;@!HH,EG`A&R
MO0(V.^^VP3UWW^&P'KHM9"0PEOFH5Q<^ZASKRUQOD?BSB.#9CGN*8IRKRA<X
MCGD'B^RJJ3D*]B)Q_*+*OC8]=7:4U3+\N76QTJ4\XA!:"AW#??1<HQ,;<R$G
M51<[,8^[?Y+T/&E>O`*/%.:>7W:+"L<DV6:Y>B+B#UE*M+*OF_F-)1/2(;-Y
M75].YW.1B(\MTEP+5OL.$SG-H6E1=GFFGEG;=.U!M--<*9\E(GR$^YKY'VF%
MXN>'Z7CZ@HN2OM]9MY-2,B<R7;D;BW,*2'5(IHZZ)YN17O8]D]]8^Q6,.I,F
M7[2PWZ'?AU9.:OM$/8F]KONX^;^'X=*XYY"XEX2D^2&`74*PS.<,LGP>-\AX
MFJ.):7D>^LZ*S<W#/)UC3W#*Z^I6X53IQ+;8VZ:Z13ASM+RHKJ:C3*JE]P/]
MUR5Y!<_\7<6T&`-4N(<K9O\`DM1^\\YZ@Y#KL<8X1K^19UGD.+R&FK"M<1E+
MZHP:2CL->XA8=[O6STQ&+5_,M5%?F[S*YCQ?"?.+R5ON9;S`T>,O-,OAG#?&
MR#-K:I&:<719>(Q*BX=I+*.G(XV;6TVUDR42FEN(2PE/<DMJ.JZ=[F"K31$C
M,`^[?Y88+><O1N;<>XKO:K,^7+_C?Q6@8U:K-L[FF-P,<?D\9YB4,^],EVM?
MD3<NL=>4E<TH>("FP-0)MO\`ZC9NG>-4P<0#CE\,%N)"P4"?'BW[G4K%_+/^
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MVBA"U)"E`D`CHY[W,T.)T+TMG*YF#RMHNMA%KZ9Y0=:[4I+3ZP^E2-NWL<"B
M4.)<1L%@@A8&RM]M<+N..&V:]HH%+?*XNJT^%-OEN)0587E=!B])00IEI2WL
M:OK$P8L"KM+&QKI,9J5;)B"()$=#SH]SO4!V[]1J(&VOH9+AC?\`>-82UV-0
M>!I6A^(*VBD<9!4X+B']O;P:Y>X3\I;C+.6[6@B,\<5-X_50L6LY@C9#)Y6:
M<=;HOHD,LQ'<5I(D%Z0VX5(6Y)!*FSL%ZH=GMV179O7#_<$XN_AE]$NY(M)9
M_.NY,UZ@J)EE;,+JJQ5G]4]9OI-=!3,^CB.-AZRLY#K#LJ-$@(2ZKW"Z4-K2
ME/:-AKV[G1NI+_[H&:C6&W7#VOO:>-A`!Y`_!0?M.8N6,^?SC%>$\=B7MC3Y
M**'',W=<<KN':W'9$&.NLM%S2LN9)8,1RZZVB,@H9D("3N#MJFOIMPE`9K):
M#R'Y*UV>_FBNRYKOU\0305^Y)+F_Q!\=L7XLSGD7-^,,7YHY*Q''+W.Q<YZV
M\JTR3-:O&5QS]'&9$%F`W,92LI1%;<W+I7V!PDZJ[OV\RV@=<QMQTEU<<2<_
MK_T7U/\`M1[\]YFX=[;FOGP[+=7#F.86Q@%I+B<3&3B,,",#@<ER)X0\T,!Y
MEYPQR'S)X?X=BV.U%Y:38-Q91LI8O\6DTZ*^P%O^3R'E5,:BB.5#"F5H67C[
M8[&>\['S5C[@-IN89<M'IP'8=^7)?I7>O[0[7L?LJ7=-GW,&YDDCU,\)U%Q.
MIV1QQX8+MYP'Y<W7)F1>0]=R!C%/Q[BW#F6U%50Y>MYQ+-U06%!3W]5?SWY4
M@53:)3-VGM]IPH2%`*'N[H'OQ?6]W;=2W\+LZY_BOR%N?LQUKNHGNY!+5V`)
MI4CM`Y+F/G-W]RAKD5CEBOY-OV/&^)FO)F4RI:E8OC;^+\>.9;7.8M^\;]JT
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MWC^">YE;JT;N-=AW_6_'UZ:L#3350XI:N+79A42'@RE.^X)5Z[`]/PZ_IUJN
M^IO8F^S'D.EPN57HN9XB?G+PAU$79#SEA/4!VQVUN!AB&2?[=:M];;>.O<NC
MDQ8#@HFZ2N@A;)":$A(>KJ[G)[^TE9HZ$TLB`]"QW'ZF;(0B+$C)*W;2YGMM
MM(==L2=@D+V&W35A>MBLCU&>&F-530RRWT+H9W%S'#+`?=1+2R.)8Q1..SV8
M+<"I2E"G)RHTQ]3B(;1+,=<D.RYLMV5(066>X]SG;L.FJ2:[]1A6H5WMUO':
M$%@I]?O3>\40KW)\FMN1\M9<CMY`B+$XSIY;$B':XYAKCI3+D6U>\08-K.>B
ME2U`=ZFSMOMTUM;BD;F4\+C56MY/U7-(.3:*13:6NQIQH-]JFD%*F3^S*>WM
M!0!\J00/0>AUTBC9`:Q"A^W-0ZE7-;K"-;-:7&@S14.$A)(]1_ZNH5R9XZZ3
M3[=R+$0\XI._<=]R.H3Z=/T:VM(;IK/62NJP_A\$'FH<DU7->8/8AQKF-]'>
M#4N'C=P:WM969#TX,MLME$0CW5ADNG]JGY/CKYY[MWVCC#"ZCR".'%6UO;PN
MQ<VI^*N\?8?65V'8VXXA$N8]C=2B2^YNE<1+\"*\B%!<04K;"4O+[U)/<L$E
M1)UK[5VUD@$]RW5*.)K^&"S,]T-3%X17O^].G&9;;;2$`H2`D)2A:TI`2.T?
M*E0&^WQ]3\=?2FO,I#78B/R]E56S3RST$KB:9?8+)*$J.ZAWG;;=9*SM^&ZB
M3MJ5ZB8-TAWA^"XT"U$SZ5M96'BAUDF4X$G;:,QT>;"3\FQ)'7;IJH?&>H33
M$E;7EW:VT;=#:/I]N*X3>;.$7?EUSUF7%W$.<0FWL"\6;]R%D&"1H=KE%!/S
MW(U4^:XC%LGY+M&B=G3,!B-)BJ4W,AMM+=<;`6V1$O8Y'VSFLK7#[U[/V%O^
MWV.[Q7EVT&$!U:G#%I`XIZ_M$^*7)/C!P>NHYDEY[39@F?8U[F(WV8KR?#Z:
MK,B+)K$XLV7I;5;)=3NJ4TAW9MQ92$@:D;1"\4U@YJU][;WMF[:A:-90C@?X
ME=?3!0X!W-I<<2=U.*`*R2>])!VW3L#\-M7=VQCG@_Y5\BMMNMVU=(P%^K`U
M.7S60&R@]5.E73<J>=43TZ;DK.^HHC8#4#'XJW9(^(:6&@5D1&-P4M([P.U*
MMMU#X@[JW^;]/KKOU9.:XRQLG-914_;DKH84@A1[AM^J02"D_B"G8@[:YO\`
MU*!^-#5=FO>QFAIHSDJ%L-N$E?>HD$'=UWKOU._S[$_I]=;.>YS=#CX5P;%&
MU_4:*/YKUMAIHDMA:>[8$!UW8[>GRE?:/Y-07O<P]-IHP<%J^WADE,SVUE)Q
M.*I5#]5D'8;G<J)`'4[D>A&VN)).:F-N)FQ&$'](BE*#\JKQH(ZH#_N`@[H'
M:/PWZIV5V_B/36,US$CPW0#X>2'HX=2EEI:6%=2DI2@;@$%7P_EUK)<7$$1;
M;NTN*Q%%$QCB&C42M<XA#;_<D-+6E!:4H--`$G]<=H1V@G\0-]<-NCFN9#Z\
ME[*\</NHO-;E<;A&\^G?I'<#^"BKA&-9)/YDY$FRK%V?55%LX(CHLUN07*F?
M!:3!Q]48M*9934RVW%+0G8N+_NA5KWKH;..`4;3#F?S5!91W;Y]<Y+C7EV]R
ME-%C16VC[1:^5"$H0EMM.R&N\-A/:!V]B5'T^'3TU4W#F8L:OH+)G36@MI36
M/.G_`$Q7)WS`?]K[EOVS@3\KMWRVE0Z=0K%[L+_#]8=-1$:QK/***2_BLXA?
ME!Y^(V'LIYMP,%.PWV1PYA9'7];IL/CHMZDJ<,K_``27_N25_M#FBPHB>!/_
M`"8<6_X6<@?YW6^B*86B(T1&B(T1&B(T1&B(T1&B(T1&V_3\>G\O3X==$2#S
M?/L<X\QNQR;)I(BUU6W$0VXKW%.J1)E_314,M-;OO2)[S:FF0D$J<_@T19%#
M25?Y=!D-IF3@^T%P[*U:;7;I@+(L83"I/24A+'U100L!04D`GIHB4;41A8)[
M'&W9*NQQ:P4^VVD[E77]52U$G?X[_IT16G(453I=3&=+H'8Q)4%!R*E!`"4)
MW_:H*D]W7<:P]C6#7)0`\3@E5S$SVMS[Q'\GKWF"OCQI/ASS5&2KF:DKXB3*
MP/F"X]J!.Y8NWI2S)9Q"3#K6_JU-!*6TK[N@.JO=[)M]M4T;`',+<QWU614E
M3]P>TKH4%-`Q(A*%/';%>J+)5+1.K%OK?8N(;X'LBLE-2VPQVG8@CMW&O"[5
M/)M5V(A72"%N6/IB#@G/:<#H(Z=R2"H';N!4-P3\>H'37U0RFZC;*T&E,5HX
M$8$45W;UV^/K^G^'\=<N-.*PC8=>GKL#^D#T!_';1%X0"-B`H?@H`C^0[C1$
M;#J-ALK<*&PV4"-B%#X@@:(A*4I`2E(2E(V2E("4I'X`#8`:(JAZCT_[;]7_
M`+;;<[?CHL$5%$TO(_"_%7,4>E@<I\>X]G$.CM3=U+>35D>U566)2N,7ZR4K
M^^*]Q+;A*#V^A/XG6V%.U36",0%M1E2E?JDM'\8>`ZXM,PN&>.8R&JZGJV_:
MQ>F0\Y6X[&FP*R*],C5H3VLIG+<0GHH$D_CJ/.TN`TXJACADBFD>QITNIP6N
MM?%WQXFV=?=6'#7'[]C58Y$PJ-)5053;R,6CI2A5`HB$E;^.*6PE:F"@I*MB
MWL03J/TW<BNKI7,\Y(5.4>-/CGF#DV9DW#G&MHIVUI<BG+E8M5K=FV]!2IQR
MCL)EBY!2AZQI*YM*(;A^5AI("QL!JO#+D3N.AVFO)3O_`&P\^4BM5MZ/A#A9
M.>-\QQN-\/9Y-CP'*B%G",;KH^65M0[71:<1F;>+#0DH;C0D!3K9'['Y=^WI
MJYMW25#7`@+@ZXMV5U/:*=J0'(OCSXO9WE$S)N3>)^+<NS._ANQK25DF/TKU
MG?Q(Y:"W%&=WQW#(892GZQY(4@)':O?8:TN&EPP!*PVZM7>61A^(3><B>'/B
MSEG(V`<LYAQY6O9'QU=7>=XUC50E43%,EY#NJROKJ7D3*<7C(8CW688Y1U:8
M]?+=:[H7O[-=_:`(UI-=PO,(C>8R:UIQ*AW=S$'T:X$TX%,9DW@7PO1\F0/*
MF3Q;@6,<J4EC"L0_C<$H;D6619`B5>+M^P-5SJ(9?4[7+#;?LR%*D)"G7%C5
M;O>XNM7-TBGB'U*Y-DD><C2H^]=1V<>Q_P!U$MBNB(]]2%NNO1(ZGY"MN[=Q
M]9+CSG7U4"=_AKT3/&W4W%M."M+C9K?374WYI0H;A,J[T;()`1NOM`('HGK^
M&W3\!K3JQ$Z-0U#A7%0K';K:VE?)J;Y>:L6=A"JVFY$^1&AQU[@/RG66&2H=
M=O<=4A&^VG6BK34*J5Z2]NR6[=$^9W^0%W9P[5HFLEK+9DNTEU33H\<J^N5$
MGPY`;2D]>]33J@V$CU)V&^M=TG@9MS:O:'8\0IHV_<K8-@O()8[BF+7-(..6
M!YX46N7E%4K)XU&\6@F36SK3=Q2$]P,N)!"$E1V4E:P0`/4Z\3:;G"Z3HND;
MI)QQ"Q*X6$[!?$0EY%->%>ZN::BNEM1.7>7WY*G7`UB/'CS@AMAYUU+B[7Z3
MZ-H;CZ@M*`"AU[=_AJ\#X8VE\;VZ:<_N5*?67NZ!EFQTD?\`E%?M^2XQ?<%O
M.6[SSO\`'.BXP\B.),5J^../[W*LKX-S:=8UTK-*K*)T:AR"786#D9VN6Y&B
M-@LMJV/NM]HUUM-SM2]T;I8Z@XC4%^B-B]OMC]G75Y=,=&21I+A34`TU+>8[
M4[60<N<>W&-<A>.G%=V,QRSD3&<@J8&1"^KN+<>P1601["MA9)C:;FQKY-WF
M.-&*Y)9_+H"UKC1$?K%S?7K;2.SN&@]1OS&/8OSQ:7D;=[?"7#2'_BN,K'+7
ME1Q1XM89RSF_)>19QYK<J3^7Z_"N5,DP:[O.%<+P3QR2YC%-1QL7NXDR-577
M)T:$X77TUIFVE@^'`H;],7'6O6F#IN$8PK3!>FWWW*=LT-BI;3$"CG>&II@1
M7GP*DGE?FYYI87G47F>TRO"'>";#DK`^)%\,CB.HJ+R*[?<1UV0WN2JR9VMA
M7,J;D.5SBB)+;4&&D`M*W((UX[<=@VIV#YXFW&H8%P!^2];[7VS^Y6]0B\MG
MW5YMQS;'J>*'C@W)OT4.9WF)Y:9YA.4W-[F%GS3:\.<Q\1M8YP'B>$1G,@;B
M7^)2;]7]*M3$IV&L[J<+6K]M$D/*4?REKVQWJ.]B-OAM+*MNX/<`/+BO<;K[
M:_V&B]N6P[@:G0]U'@DXX'',_!2!YE^X%YO<Q9#C7%M9B^0Y)QA8<=XYB5OQ
MI(XEGUF=>4M#F6))L<WY7QVQ>C)@X-1XA%9/["<&VVVSV(Z]->=$=Y(X_IOZ
M9P)IA\UY_P!K4]GW0W:\E:Y\3RX5=E2M#]?BIU>`'&_@WF.<9"[POB_+.(9A
M&XTQS,^0LHC6MY0XUC&39C-<@7F#T<Z<ZS7L6[Z:D_7=0A+*@`.T@:FQ;-MK
MF]629C)0*T+J&HX*O][_`-ZKKWE=BQVW3<O8\#3%1YI49AOQ7:[B/B'C;BIW
M*;#CH&&YF=N[D.6?76`?2J5&@QZNO"8+!3'KFHL-@*0`AOWTK]P[[[ZL+1PJ
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MN:1S=ND?%XI=(RQX\%`V=@;<M9+X6UXX)"XA10LYY>Y!F3D/VE'QS<T^.5%+
M9J7M79#"IX\Y>3P'0?9VGN3W$+#@5[:VT^A&O);4V]EHZ2-^GF1@O07&EH_3
MQ[E**%`8AKDN-(6')+B7777W"_*6L!0/N2#NE:$]Q[0G8`'7J0&@4::\^]18
M'/<#K!&."SP``````-@```!^``Z`:RNZ-$1KO;OC8^LA#13BL$@9F@7NV_\`
M)O\`Z/QUWN(62-U-Q"RT%WEQ"T-W.C5L=^6\DI2A@F0X3VH9B).ZY*ST"&6U
M@)*O@3MKS.\[N+2Q-I":R`9#/'L6XC>'9%1?YFOYD;`;6>^Q)G6?(4^1B.'Q
M6%I>=KF\@:C5TB8J,05^RTW'"^@(`._QU\I%H+^Y$MRX-=JP!-"5<6[V-;1Q
M`4EJFL<KJZ%`.Q,.%#C+4@E2Y4J&V(JW5I]&T+;&XVU]2VB*W@@+=30[E51K
MF6-^+2$HV@0DA7R]?YWR_C^.VI]KJUOKE@JSBM7</3BPTW5N13([UN+3(22`
MT@I2M;*D_KN)*ANGKMN-35E0FYLY>L^1QD7CUP6K]^^2<BBR<6SC+L9LH\.G
MX0HKV$*JTO<JG2'/HE72$!0BQ(RS-43W%(VU+:(J5);DM+^QAFB&EP+N]2!X
M>XEP/A3%Z_`,%QVIIA`KXJ+:;5U3$*PO;!J'':FY!D,^"5LS[6V=3WAQ]8DK
M&_3UU@,A?X7%M"MH+*%EMH#P)*#CVIWX<2*RM:F(Y:0KN*DNH`*G5*2I;FQ'
M4J[>I]3K=K((?(17O6PA$?\`/J^*V6Y'H?Y#J/*[4:H2#DO-<EA>@$D`;[GT
MV]=;%CV^8$(O%DH![R4@$`]V^P).P]?TG6&@N-&XE9#2<@CIT^9/59;'S)ZN
M#;='K^L-_36CWL9YR!WK.AW(K%EO_3-[I4$IW6]("E)!48XW[$;G<;('7X#X
MZKI9H=9=K;I[UJ05H%9!'CQ7Y\NTKHL$`N./2)K#;3;:P5@+<6X$I_9GU/34
M7UUD#I,L>H_Y@L*Y5Y316Z%)J+>KLW&U-H6FOF1I:D*<Z(20RXH[KVZ:RZ]L
MV^:5@^(1;YETN*<"@4J;4E!!3L4J5W=#\03MKBV]LYKID;98W#C0A9&K(*B0
MTEP?(M#:SWI<"B.YQ*/4(^)4D'^'KKV#K=K8B86UP&6.?Y\%AT%N<9BT5YE,
M9>S:3CG(W<KIUQV(=F)DS+*)V2D3+B:TTQ$@Y!`BN'W'7HBB6O;0G974GKI)
M)*8P*'4.'X*OZ5D#6-S2:\T\L!]N=50YJ(ZHXL&!/804D/K0\"=Y"-@6AVJW
M'Z=58ZW5J]I#5(AJ'4X%<E/,+8_<N^V6.AVO.6>GX?\`P,7>NRDJ2WBPE1\H
M//OM6X`.;N/RI"$;I.W$.%J45$>@V]?T:(IS2O\`!)?^Y)7^T.:(HB>!/_)A
MQ;_A9R!_G=;Z(IA:(C1$:(C1$:(C1$:(C1$:(C1%:6\EH%6_5+C;8/P"W1NV
M3_K`?7\-$47N>L"SKE>H:X\Q>ZQFMH19UJ\WF9"Q:"XBQ8[_`-?'&,,P4)C"
M0U*.Z5>\0A6QZZ(I'TT008$&&'79)@PV8!F27S)FSFH;$:/&ESI"@%.RGD-$
MJVV"?3J>NB+;Z(C69AZM@B&;424R6CI<FIK?&+J`W:UU]4V%!=U<]\O-V=78
ML+B+9>9E$QV_>9>4@J/Z@.XZ[:CR_P"ULWP'-P72/SA08\1K.4WXQ8"ZE7U]
MKQ%99;Q_80V>Q^TBUV!Y/=X_&IK=1[9#R*O'$QD,-.#W`6.XD]PV\1=618_U
M-.*F<5/:GLXLZ%%DQBMYJ0AIN(ZE/60TEI#C*EH)]Q#Q2Z0I*@"-M6^U;^US
MA:`C%1I_-\%NP=_Q&Q((/0@@D$$?`@C7J9P(8Q*3FN"]UKGBB-$1HB-$1HB-
M$1^'\>BV'E*Q)3/N]0A2@E*0M8[`EL$G8K*E)[03_#IP59>#`E-1?QJ_-+63
MACK@DUE#*B/Y?'V6E3SI8^HJ*EI;2T+^EEL*)<7T.XVV.GW+LRY#X1&,2&@+
MUWC&RK=V<4RR=1U"%=[55);%HF'L?\"K5.D>Q5$>C*NX@]=].Y5M]9N,1>WL
M6YJ<'A^W)_/FH]U.DJ#:YK\.,V$P^A7$4V4*4N)(4`'FT[%:"1N-!VJ/9VM:
M"F"RZKC^FH9+LRKB(;=G+(L'G)+\A;"&%>Y6-5B))6B+75KI/MQT[;(^4DZX
M>H$=T(R<PI,]I^NVO+_HM#RW4KM..\A99;^I7#^GM'X$1HM&R>AR(TD);2"2
MVEY;2E$==B=>?]Q0=8!PR!JK6VMB`*<TJ*#(8N1U-5=5+\*36W%<U*CR6WDF
M*TV0&R@JV*DR4+!!3MN".NKK9;@30GCAP5G<^0K:.>[O[;BT!9/>E(5NI21_
M/3\O5/7^SKKZ(B[<X##2J!Q-<,BHD>;'!N0^2?",_BJDR.PQ.39WF-SW;ZKF
M38$MF#3WD"WD14RX)$E`D*@(!0DCW.@W`!W@W5H<LG?%?7/[:7]AL]XVYO*=
M/B,#]"N87CQ]NOR>X/Q+*<"D<Q8ZN%G?'3V"Y!;U]CF\6RD3Y3&2*FYRS&LW
M;.++MV8]C$8$52F6$MM%U.SHW/E][?=QVY@9_AIE7-?7?<G]R_[7^O@?N$37
M7#9&N.(:=3<J@.Q'9DEGXO<`>>GC?0YEA=ERQQ%G$:JMUSL,R+DF\RZYL+'&
MIC41NNB)B1C8V+T0/-[*0$*45]-B3OKR6T;5>R732X'3JS^P7D_[F>\_[:>X
MK."/;HFLO)!1F50<?\R/*;ECSBJ\1SW#^->'&G^<^0\4HZ"AS_`,\I/W>L;&
M@^LG>Y28CD[E5:QTUM*]N[W,][:E;;?'7M9P;>(P'N7E?:.S[5#<LNWN%&G\
M._@N:60<<9;6>1GBQRSRWXC<J9)S6Y@.1Y%Y%K:"\UB55W31TU^,U\J'#DVE
M4TS:6D/ZI#392`\KMV/7:!M^VF-[Y'`DN.-5^B__`#[V9:>V;C9[XQ&><-Z)
M&DT:!1V&H#/Z44?<CQ[(O(:[Q[[@W+]'`X'M>$N5:CDKE;`^5L<GXQS!8?NQ
M,5'J<"X1RVU88I,;H+N#7,?615(<2RXXZVD;;D^UL9Q;#$C`+\QO_M%/[NWE
MUUL1+8WN)%*TIVG%38K_`+^N!67+4*AON$K;&N+*>)94]C%,*DS2P;RMLIE1
M+F$Y65\AF)BKT)3:G9R6T,R?F7KRME[NO([V2&:HBZCA\*FAR7Z&W#_\:K:S
MV>._WF>-\[(FD:CE@#S&7!::P:\>^5O+N)Y(\X^8U?3T')-X_@V"<%U=-?N8
MM%B8YC%2W;4*LECUZ&(V3S(T06`FG>/$;>[6EI5VZM[B`7H%Z!FX?5?-;[^X
MD/M^%WLCVN";\5.L`>5I)<,*\#3MHNA_$WFG]L'Q^E5N+\976'X37VUJS"?R
M)CC[(:YJYR:ZH$9BNYM\CL8#;B&;>J;1)0J4](DN..)2T@I=Z>NM+1WHL,J+
MXGN</O'<]P-S,]U2:X_]%?Y+^[EXUX%B7%^?X5@/(')=/F^0G$Z+/*WCR3C.
M.TB%LRI5[;V%K=0%S',?$"/*>6(8[DL`)[`!OJDGFZ+C;G/->CM=IOC:O?N+
MJQZ#J!/9AA@HT<W>6E)REQUR]Q)R[REQ9PV[99EAT;CVPXEKLGN8E_B5391,
MXOK.ZEXS1QK2LC5-#2^XX_(+K"8[CJE.C8C5=+;=<$THZF"[_P!J_?G]N?:O
MN5S=VMXWO:XUJ0"2*T&)IB<R<DX'AWX=<R8=3<A\F8%Y)X%S)B_-4&Y&-WTJ
MXS5^//Q/*[J$XY=3Y:'^VTNZ"%2(:K5L!M+;+KJ3^.H$<=Y;FM#3GCDOHONO
M^Z/]NO<WN0MV6!D4QQH*8$UKB#0TQ%>.:Z)?;_\`&+//%CA_)>/N0N0VN1K*
M;R)DF3UEU$D6I2W66I0_71'A<K?D!<=:"D@*(`VU>V%S-*]S)?Y0%\3]X1O]
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M36C_`#!<9_)\5A/_`%'U44-#=OVWRZ=R-B`V4#T/4]=3+J[;;6F)QHI%GD4W
M-N9>03X=(5=L.'+=M;9>Y`7$CGL:KG.GS(E$]Q!]2-?']PN;B[W1[FUZ1HK%
M^)^";G(ZQC->6\%J40Z]37'M2K+YR$N'\RC2Y4M=5307T@%E#3\-!D!)'<&T
M]VO2V6U021"1_G&*YO/A*D@EM25]QZC<^G4G?]'\)U=VEH?BH"LSW5LQG'_:
M<>;9^9Y@):(>"B$I05.;]I"CTV!)U="+I"G-%!3EGR578YW:>._`JF\ZYSDP
MC"O&F6@G#N"(UI%4A.8\EWL=*"A;55,4]608[B7)3P`61L`,HI!\&<*8)P5Q
M_28#BT%D(B,J?O[UIIMB?E>1RE+>GY'<2RD6<U3TUYQ;;;CA*4J`W.VB)Z6H
M@;<0OH%?/[K@)[G>S=$<*_'9L]?PT19NB(T1&LC`U1>@J!!0E2E#T"=BHG\!
MN0-]+F[\-*A%K;&;^7+4_+>;CL12A;[[KS:8K:5[I2J6XMQML1D%6ZRI0`V_
M'8&H9N#89'%QH3@NT(\1'8F%M.2.1;RQ<@X!Q^VWCY8=<C<GY%:U,:D^H]Y;
M;SU5C3;:[*9&<4V5,O*!"P.AVUSEG%SB,2I-.>2U3?"^2YE(*^2>5+[(Z5SV
M9;='4%.-1ER5`)DQ9<V`$6;L):0>Q"5I:*=@M).^N#K76-/%0Y/.4M:7QVX<
MH)HLZ[!JE$YA/:Q]4M^S8</0I=?:L"^W[C2@#NE.QV]-M0_Z"\R"4--`>U:5
M"U^9\!8'E#:77:U['K5A01$R'")DO';=MMXGWFTBO>88((Z;*;((_#7.ZVDT
MR*RM%38%RUB4NNC0.1HU[C$:0S$53Y;&EO7K<1PD>Z_<Q'`J:^XE'RAQ"@"G
MU&YU`L-L,=ZT\*_:JRYQ9"Z3DE3;\AV4S+I_'])!?5,J:^'83+B0PABHC,N.
M^PEM$AG]NM\O=%M[^YV]=MM?6H#%;0!Y'CIS_!>:_J`O)NC7)8]1C.13,OD9
M3=L8U(BR(":IJ0B?,G/QPR[[DA,=$MAZ)$8<6D_X+VK4G]=2NNH]03J&16EN
M/U#WIZ6`EN.D1TM^RE:U//-*]Q"D*!#;"!L/;;0LC;;\-<)O)57\.07(GS!2
M?^DO^V>KX)N>5U'^#]W+AO\`E[G1J(NZDWXJ/);\G?/]92LI_IIP)6Z0#L'>
M&<)4G?J/@L;Z(IOSE%$&:H#<B'*.WX_L'/\`4T11$\"EG^K+BZ-AM^]O(FQW
M/5"<OM?;5MM_/!/\FB*8NB(U($`+`^O!$:KWSZ#2B+Q1(!V&Y_#_`$`Z[0.Z
MQH<$0@@[^Y\GIMMUW]=_4#TU(EBZ=*&M452NW='MGN!.RR>G:/Q^.^N*(.VY
MV.XWZ'\1\#_&-$7FB(V5L5@#VT#=Q1.Q2#T!`_G==$7@.XW!!!ZI(.^X^&_X
M']&B)'YC91JK'LBGSY1@UT.@L[*;8)^9R%"@)/U,MAOH'94=71MO<=Y^(T1)
M?AVSBY+QOAUHU-N[QB?7O3FYF4UCM+<B,XH?32'8$C]LRXI)VV[E]#HB=A*&
MD)"6V^T]-SW$[@#;;8Z(O=$1I;_H2.D\VKZ(K$EB,\V2ZVV/9274NN;J["V.
M\K<*1W.A.VX!]#MK2YA%Y("XZ>X560:&JYR\C\0Y'X[\XYCY=<<3<AR'!L_K
M:NNYWX:1,1"I8M5619EF]R]A-0&E0E9@A9<E7"$;/SXS2@E)6`#3;M%T[<Q,
MQ)&:[B<@4HI3X?E%785]/G_'TU&885GC%=D--,A/M)V5<!E$BR0E]:5_LFP%
M&-VH]@_(?F[MO`V&URVEX;\2.=1WE(I]:_@I$<++EAD+M)'#-/?$?+[`=0M#
MY>9]YI>RF_>?4ZKN;6E0W;)2-SZC\.G77U6UN&[S;B-](P*5H=6%,Z8*))&U
MAI59?7^<-E?$`[[*^(!^(!UPO)Y;1P:UFIG.M/CDN2/^QJ;&620"4'Q\D1K"
M+W;]/^C;?6X:W36N*S,.E`)ABX\%Y_!^/7KZ#XG^+7,$EX;3`E;689<QE[SH
M(X?:BJ5V!)(5N>FP]=^O^MW.I7IQP)^22F"(>>JL*="=B>OZQ(ZHW`&YV6X$
M-)V_UQ&^N<D>@@<U$%TQP(90_%-_;91(FNK@XYCUA?34%:%/(3]+2,NM=0FQ
MM7#[:?IM^XI0E>X/Z==8[=KO,ZC5&E'6KP6JQ/';1A^RR*[?K'LAOW(TNUEU
M2W/RI$:)&,2N4VM*-I"HJ.@W`[M9=;`.(U'Y*%"Z%DQ:7X@]GYIVE`D$)/:?
M@K;?8_P:Y/ATMU55Z3!/;F,'$T^_O5+:5`DNO;@CIL@#8_PC]&N*TBACBR-?
M@O'70@+2E313[?<CN4OW%N;D%(0E*AV[==_74.6SZMR+G610`4HI72MWTE>_
M2X<*#YYK$=D18T5,B0IIIHC:0Z^-VEH.^Z`D]5@>G4#6;NU%Q$6N-,%P.XPV
MSM``<#QR45L4Y"POC3+;'CVTD5].+*=9Y7A;48?754*!<J2E58](848R;.T=
MW#$3?]D3TWUYW:[O^FR=(C6"<ZT4Z0Q3P%\3ZNIDG?.;-O%TU=-?V#B'EQW6
M7:B3"4U+'8X&%/R@@)*8[B5J"=TCN'77T1G1?$+BHJ[@O'?U&YCN71O@&@#.
MIY]RL"[SQ^43%PZFB,MI';,M;]#KBD*&[C3<&(#VO=-AWD==1I8(93XG8=RY
M7%]?2C]$NC[L5@6%O;OQI,<4]CCSB4+ESY<B3#E"%"8']^3(L1+RUH3.;24I
M!4-DD*]>FJZ\VV$VTDU/"P&AIGA].2S&VVW%T4.Z`L<S_P!TDU?W@D`9TP.2
M:O"Z>HN,BL<_?BQF4.+,/%G7;-%A91H?TC7N2Y2&(KC+#(1W>VP`I;:PE7ZQ
MVUXGV][HM9KF6T-NQI82*ZB3AV4P7K[W8)MPMXSM=L71L`I*'.J#P(%"">0J
MM;Y%9;78_C>(X\(<B=RAE&018W$])4-$75EEC41QPW%C-;1*AU%-$A-=]C)4
MV6T,[I!*SL+R>SM-QFU&7IFN0`/XA3?;MKOLCGP3:HXF--7U)%!F2*`#MQ31
M8MD%EX]\59[8WLEK)_('/+Z5=V&+NV:(S%WR%DC@348WAWUC'O0L-JDK>E)0
MGT1%?>4D`@:Z;B;':=O=<"37(W@:"OQJ2J_JW;+Z2&Z:9&1NH'$D:1R`&'U4
M)LD_JLYMQ;6<+^4U%R1R)?X_;2\PGLX;Q]G7+-+!S.Y8_/K7ZB\Q:JN*?\Z$
M:[4\:]U2DL)""KM/347;"_=K!UZT:*9`8@_'!?0]D]]S>W@TV<X::8BHPIEG
M5<1>5N*O'ZKY9X3\>N')&3\<UG"ZDS,LY[Y9XSFX+G7(&&\UY7:QOW>BQLM:
MQR.U4X77SF&VK:9]9&);#+26R4ZX2[/'<.#G#IXY@?4Y+O>?W7]P>Y-T9M5S
MN,C;=]!A0BF0`R4N*WPFH?+?D:[G^*/)"H'CK?XHWXS\V/9A8UHRSCZQXKCP
M<$L,\XPJTL3(</*\YCT33KZENL+F*<*_=!UZ00[=:VG1ZQ,;2TU(`-1V57I[
MC:M@V/;1N%\YAWM]:2`AQH<:9TQ&!Y?%20'V@>*I7(-'*A^17+MS;P,K:S_'
M)=?(QT0,@8K./XF"0(,RQ]YVCAN4$&G+;'<CNCEM320=N_5M#O6T1V_2$H)I
MS'YKX1?>_P#WC<;N=OL-F:^QU4ZVM^7.G2(__4GAP/[)N#8S$R),_G_DE0RW
M,)^62:]BGI8N*54RQP&_X]@Q:NL1.E-H[6[_`/,I;S$EL29`V4>T#M\KN0BG
MG-[`^K"`*4Y=JN);C?X97/D:71/C%6FH`./&E4EN7OLXY599?A\_C#G/)*G&
M'D7T3GB5.I*N?D:L/E\5/<?)J<.@_P![H=3G%?,DIL%*=4@*6%)3NG<V6TM;
M*W4X8CZKR5N-IVS<)+^[L&33.J:&1S?J`5U+\=*_#."L/Q?@+C_$,DJN-N$<
M)K,<I[2U<IG6B'9,KMC2(;<U3KB683Y<[E*!/</PZ^E]+:W4!>\!AY9KS$F]
M0#>O765@V&I&`D<X#XEO:I54V<XE?(=11WU'.>BHV6(<AF-(D*!V4Q[,A]"4
MO)4>O4IZ>NO*@.CNC%;L!YFI7N7:MS='/>3%H=DV@-/J"JY66QD/-PX"I=I-
MZ/NU]68[CT=YHK+,69/#BX49R>L!ML=Y43\-6TL4,$?4F?I/V[567-]+9;DS
M;X(Q(''S5((^%#]Z87'.0L<QJTNZEB++R+DFYN'G+W&L95#N9\4*=4]#@7TA
MZP@H+-0EQ)E=A`0GIMTU0V>]V3[R2W90D.I6JO=WV"]VRW;N='.$K=6DB@'9
M7BG?XVQ67%7-R?+6&$YMEC"EW"FGA-AUL%E2DUN,53SB`16U:3[C20!VK)W[
MM<;ZS-U=M(<0TG.E5"L+SU,!UL#9!VU3N18B(R&D)]OM89]EH-LML@=Q[G5K
M[!NM;A`]?3;5S;-]-%TAB%(67K#&:*]IJB-;HC4B2%K&ZM541\/AUZ>O^C\-
M165FDZ;!4C%=8K<7)+"2*"N55A6,U,",7ENML-A2E+?<4$A(:;<<"?FV&SG;
MMKS'N3<A#`8W@`T/%<[8NCGZ%/#S2%PE;C\"1D$E&[=]-<F%E7ZWT3:E-QV=
MR.X#8;^FO+[?.\V#)VPAX<3XJYX]Q5I,T-?I!J*)L>'(BY/)/D79K'O2%\DT
M=<'UK/N"KAXK6_10FSZM,L(G.C8>I7O\->PVFTBNV"668Q.'\M`:]E21]RY%
MH<*%2-DKD)Z,!*^XM)2M*TA1<<6D*;2%;("MCT)('XZ](UD4(K$X./)1S``,
MU%#G/R$7AK#^`<=NTV9\ZY-"<BX#A$>2X[/AR)D5YES,LGAH:6NGP[%WW$/2
MWGDA;GMI2TE7=N,F5TO[S1&!ECG\Z+E(S12F-4M?'KA6EXBX^K*60U5V6?VD
M:#9<HYC&AL)GYSF\AL6%Y<S[`AUZPKGK:6Z83+RG&V(7M-H">T[M,9_F7.IY
M)_4Q(Z-DED`I/4(4KM!W)/;W%1VW/XZSIB_Q*0V&K0:J^?;V^59)^`V]?[.M
M7B-K:AU5A\6ANJJI_B.N/49S7%>@?Z/]`UU:ZWT:GOH>6'YKJR,/;6N-52.\
MJ*0@=IW[7?<0&T;>OO$[%L_HZ]-5\VX01.H""*K<P"F:T]G8_31I"@6&R@'8
MR5/(92UT[WWI#2%-L,H&Y*E$`#KJBW'=H&.Z<#@\GMI]U5'4:[YNZY[>LL?A
M"?BO%M!>UGU^51U^Q8YJNDE)E6,2K:<0XTY1R'DH0ET]X>2%`I'37-]HZ>!L
MI<15W>NT6H5<T5("DA55,2&AEB&RB(A#@3"AI:;;:1'6=T,)+S3BXS*VQW*2
MD]NXZ!.^K6SL:9N/R4:.^G?*8C%2G&I_);%B&PA3I#"&A]0^`VT5=A"7%`+!
M)43[@Z_AOJ9^S*12M%LPS2W;H7,HT'/X<EF?P';;X?HZ[=?X-6#-P)(CZ8H>
MW^"TN#+!,V,,JPG/*BH=`*%`J*?TCU_B/P/Z?AK$NF04H`NBT4IY$)I<J6^$
MQ8A+PD'9J1&`;6`OZL[I/>]V([5#;96^_34:"QU7+7,^Y1;ZZ;#9OB.!=QY)
M@,<D,W'*&393"0S1P:V,[0S&OS:#(>R.^#\*1`R"-';?=2P]'C2'&_>*"GM!
MW!^%]N%M*RW%*UIR7B=GCACO#,9*FN.&9KWIT*C-\0DVDW%*AYF>['BL6##$
M-"G&&TOOO,R'&Y+23$V2M!*DA0VZC4!LQ#0*9*9;WNJX<UK/#J/'M[DX$=+;
MT9`CH"7'=@AM*RELDG\-O36KY=8I1>KMR2P$BBY*^8L<-?<<^V[9//,LPX-Q
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MY8]XV&=S9Q;F6?V.6>2^7S\(Q"G>Q"RAP94!K((L^!$#CR75E*%*"BKH`=3+
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M-!#CDF24-CJL`D3.3?N;>%/D]@W*&)XUS<,&@X9CE/GW)J.2\;R#C#(/Z%UV
M,63:Y!B,7*H]:JRCVA2W$1(;4^V7)B"A/=V@$3_>*GW!_%OR>R&1QMPOF5\<
MIQW$JJ]A8?R#AV3\>Y3;XDZ^\PSD&-5&90:NQR2B2$A+TV.E3+:^G:/71%T#
M9<4X@=S10>A[COU]>GX:(KNB(T1'7KL5)W!'<D[*&XV.QV.QV.L@TQ18,FLB
M3$]KC:RLK;=W1LOW78X060\A[O96`&@E.X^51'XD'E+;BXQ*5HN;N/XZCQ?\
MJJWC$YDX]P_Y5LYU<X%A5S"<<CX/RIC;+%]:8WCDU+J2Y'M:JPDRA`24A"VU
M+1VC<:K[G:XXK1[VYU7>.8QM+>:F;0!O`U,TP3.-!.?>70&;)=E2X=@H+5)K
MY\APJ>9C)W*F.]15U""3MKQUMO)L+@MK0#M55<W5'8U3GQ)OU(;"%'8!'=W)
M`7ML-^\?S5_C^!UZ[;-SAW_!M,%-&55M!JU]!);/UUK&LHULB]_T?'5:ZY(O
M##W+()E_1X!:NSM(E1!?L)LCMCLI>4YVH[UI0V%*4$H1\[BPE)V2.JCTUZ6V
M@#X]5,FU7FKV_?:7L=FPT,CPWYFB:MO(LYRUANTQ!FOH<?=7[<:9D\.Q8M[!
M2/F+L:`A8,>,ZGT4L#IZ:US5G=[=<Y8Y+9O8UE5O'2G)LJ<14.`)L*NLA!#+
MVVWM%N>\3)5^T'5(4-AZZC7'F'Q4.SMI;<NZG$JFWRBGQ]FMH*Q`M9P]FM@5
MM2^)$Q,J05B-.LV&CNS7QU#>2X%=Z4[=WPU+M@30??\`;-30L9NFY)=+<][,
M8D5UE)7+K(N/Q%TGM@D)8D.OSDSP$_B`"1\-'T#R!E54'H+A]R]X.!<5MHEY
MR`@_3S,>II[G\VP@6Z:^*>GJ8TYIQ]0.W\T[ZXS?ME7$5K-;1]=Y.D+8&TS=
M8)&-52^SYNPY`R2OU&R`AE)[NNH6"V]8.:PWY.?RT=L)%#CRE)6TZ]9/.6`9
M<?3V,F.S%2AYUU*QN-SVG11I'37$E8B=-%HZOB^JC*;F9)/N<@M'RXY92Y3\
MF'7+D.J4AI35:N06F&DK&P3\1_#K#A@>Y2F[//*POKP/W)O^9\6Q=GCVYPV'
M3157&8I_+Z:%"8:;EHMI8,46-8OVGW8TFC4OWDE`.RAZ:\'N+C!<`C-;;!'-
M&RLQJMEC*.7\3K*7''48GR7&QJL@0U9'*L9%5>2DP:^-6(E3$)=E1)-C,=CJ
M$@E;:DJ;2>SJ=7<&ZO\`3-!.*LGQ07<YBC`U@5*]M.3<EQ%;,W*^*<SAPE+6
MER[Q5'[WMPE/+20J35PU,S$QBGJ5@$)`.^M_ZJ[F4_I8RH*I/Y?S9CF="=Q]
MQS<UUQDEM3J-P7HLAF%AU4Y$?D*M;SW6&'-WW8CK:82=WU/[_,$;:W=OT+[*
M:WK^JUI&?8JO?]HFFLV,ML)!GP_BN>WFYXX^5G*F$<71/%7DU6#1:&-DCMY'
MM+6=C!N(EY.II=<S',5<AYJ1!3#4ZTYN7$(/;OL=?'O;EC=W.X7$T)(`+CRS
MHOTK_9GW![=V399+#?6,?<2QA@+FAU"*D'$$C,XJ-G)GA]Y/0>&LAE5LJ;=\
MF0S:_D.89+SC*I8>(<=.Y*YD2*F:KV6GE6<.(TMU\AP)>C=J"3N1KZ!:6MX:
M.J:]Z]`V_P#;C[^:*V:S2XD8,J,:<A2F-":4YG-2TJ\.S#F'$^.^3,ID3Z6H
MXHX[J*#C7*IRFI]]R1EM]2U=3=\HQ8T@F6TW&[7($1I]I3BV9*UG;=)U3^ZX
MKLVS65(8<\5\/W6.U:_<`P#J=3##+#+\N:0.*\^QO%KB?R*RCE_CK,/Z+;SE
MW*XS&;8I/9IY>15\2NI,:9LJ^J$Z+.1]3#:<;3*A..N/^R=D)*=M>RV>]AVC
MVH99L"&G%0?[<_VJWOW_`+J;>TJXEPPJ<&DTKA]BD]B/E[X!^5MMA[S7#V?Y
MDSQV]9HQ;)<OPY,W&\:%;(FU#;<I$B9&F/N2K""$-F2VIQQUY*B"YUUV=O5M
M=PMZ.9`^Y?0MZ_\`QU]P>VMZCFF:6R-IEJ[.94B?$W"?&GD'@[E/D+Q!Q"OX
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M&4K>5N2CM^T;7!-!LS8I\7U)S7S+WK[F]K[GNCI]C#!9%@R`SXCLQHNO'$M%
MF57@N`1.09$"3G%3@>-T643ZKZ[Z)RZ@(8A.+B/3W'9C[;:V5)#KI*GNJ_10
MUZC8QX#4847Q'=[=MT\NC`H5L\!^GN9^9WJD[)L<C35*2VHM+`HZN-&'U:D;
M&0)@^<%7Q&M]SOW63ND,`HEC[>BE9U2!J3@2\>QV:`;"KKE-H;]DJ5&:[EH)
M&P*NWJONV/=^M^G6=LN6,K*ZFIX%"0N,L,DM]#;Q5`8XUIW)%9>SB.&TJY)=
MJZ8M^V824I2VY-NTJ<53MQX4;M5.?$A8[E+"@TG96J;W=<2OMRZ`T5O:6T3?
M<,0G`-2!CG2JC;XT\.6^*767YSED9]B\O;"P<;:E6ZI<B8]-FO39LET/AUN-
M'?8>"%(2`E38&XUX[VM[;W"2X]=(26OQX\5]/]_[WM\>ULM(PVK&TX<`IIP8
M80W`7[S91"4\@-I">T.2?T#U('1/X?#7U"6WZ`#2/$%\7VL]5KI6^1;S7)6J
M-$1HB\42$D_@"1_#\-1;BY.FB+%]Q:MQWI1M\Q40-AM\.OXZA[=N,<$\DDOD
MZ9X\5NR4Q&HXX)K>28B\GBU6*1Y+J5WMDW#ER8ZU-&%!:4W*DRE*;(("5,H2
M3^"MOCKY3O>X/WG<S;0G`N5FZU#8>OQ2-YKYOXP\:</KLIY$R)ZLJI$U-15U
M554S,@O,GNTQR44N.T=4U(G.S7FV.X)"""3T'77O-CMX[7;F;9**RMK]37\5
M&9*96ZOMA@FL\4^5,2Y=P?D3GG"+*QKL7S[-[BX?K<SKI.-9+BJL4A-X_.9R
M^LF0^W'9*)%6N2XP^EI;4,(6H#N)U'O8+FWN61PDAKG`?-;DT2*E>;EG?_F"
M>%_%KR+YTQ2O?GQG\JQV@H<5H+>1["E0W*)[.+^E>OJ2P=C.(:GP3(86%[[`
M#<7T#I+(UFK@5C'BL3QOP;',$N\KY\YFN<9B^37-WLV&:$W#$[]V<.CNNMX9
M@T-N(F7""*"KV:F^VYW+E`J)(V.L7^\LD:QL6&FM5NR+J&E#0*4BN:X`6]`P
MW"\JS2/4]KLV31P/R^K^D05F6Y7VUVY'BVP:20KV8JUO@;?*-T[UO]3=S6QM
M`.]6XW.:[EY%?B>!\BW=H1^U598O)Q:FB*^+<F;D;=:XZI'INVI0.VXWUC^I
M.YK0MTFG);I>;\G1FT/RN)'SVN%I3-=DM<^^XD_*F2U]6MACVPH@GN6D=N^W
M78:TEW-VC/ZKE*"(S7%7U9-R^A:5*P&@?;?;]QIB+E*VI;:1\P0Z7*Z5$$@[
M=IV=*.O34/\`JCN9^:B:>Q:>TM^>+AEMZC@X%@SC"O=E5^12I>1V,AH=R>QL
M1%5;2`L#<=H4?]=\-<7W=Q-)X":=ZE0BC:=JT-CBG.N3&(W)YGB8OVOI5+C8
MIA<`USD90!4W)=R.QF.HV^*F^NI;-ONKB,FIK1='95[%37<#*G3V[?D'D+,,
MPMDE4A+I<1CM0NN.Z&:Z52P%IC2TO;;$[=RAKGLWM2]=^M.2[O4!/O65+-7"
M9A0D--5D&.EB/&CA#9C1VR-FXS*OE0CN.Y`ZDZ]3'$&R>E.!:*K=MVRS:Z23
M(BB:+E+DFQIVY&,XF[&L,D=AK42[+8DW->EXAAAYFFV4[8GW%[+0DH+*-W22
ME)&O06EJ.RJI+??;<WARI7L2@X]S*UG5\:ER;VH>65$2&U:0G6%LQI?[))5*
MKY8^6<V6R"7$;(63N`/32:T8937-65]O5M:CK-'FQ2CH>0<9RFQNZK'[VLM;
M#')2(&11(3JG':&:M?>RQ8!U#18=DM?J)'N[GXIUQ=;QL&JF(6EINT6XLJ*5
M2R!+I[%_J^O3IU'IZ:X*2M3DU,;Z@LZ1*V4)GPGF"9*NUA&X3V/.[D!09<V(
M!.VMH;^.SN6-?2IQ5;N5C)>0DLR`Q3'87PYB."XI"Q5V2VM-8W.8EV3TEZ*Y
M/N;!WZUY,B5W^]*@J;2=E*40@`(&P.K?<]\BZ!)I2G->=VW8[@S85^Q6PX3H
MJVEIL@K:2"6<5&07/[M6*WHRY%C42.V>7BREM#\=B/>OOQH[14K=M&_7;5,U
MP>W6,CC\\5*LK,,N'-.>HCY'\T_<>#'##*$E3717S^XK=(`.RNI^&V^GW+V7
M0$=OJ"X3?=1Q:'E?F#]O:FDXP[F[D_(>1ZZ-BC=S;4"+13N%Y#.>L'K6F:DS
MHB%B,6@I+3H!=WZ;`Z*.EAX`<>7-30?<LXURGC)G%S)Y*G4%5@-=G-QD$BUQ
M&VX-QN'C29.5.L?GE;=Y)2R6B^CV??@OND)1ND#1%TSYZX#X\Y]PS(L,Y)I%
M7>,W6%95C$ZO@2+2G?GX_?UZX\N`J;62VIT1T-]6U-GO;6`4]1HB8_[;^,5V
M%>(O$V$TK,EC&\$K;;#,39E2'[!^)C^.7ME45M7(N)2A+N7Z^OB-!3[[;;JE
MJ.Y4=SHBG9HB-9U.I2IHBI5V@%2DDA([OE`[NG7Y20?F_#IKE(UN@F@K1%\[
MGW-/MM8]]P#[E7AE&YDXJR?//%O$N$>:H/(>5XU?3L4_(<QL;"/)I8\RXJYD
M6W2J0Z@*:;;`:=.Y/0:A!SF^4D=R)<^17VP>)/%_[87EYXS>`O!MLW?<S8S8
M3&*")D$BYR3+,F=3$98-E?6]G+DEMBNAD("B".T(`Z@:V+WG-Q/Q4J``M-0#
MBF!\WO`/R+RNA^U#Y+<1\9UG)<[[?5-A.5<C^+[BXU-?9\\W04%?;U^+1VS'
MHV<AKUQG7-I2DI6MO;T)!!SL<2H%R2UYIEBD]XZ?;SYB\I/);SR\Q.:.,[;Q
MNX>\X^'Y?#-#X[95)KWN4%W2Z*IHU\J\@,8\7*2AM69U.V6VVE2"]"`]T)7Z
M6`\H/8HVIW,_--7X.^%?G?RCSBWS5YN84Q38UX1>*O)7C5XR16'Y+DOD_+'<
M?M<.B<I)C++;[2KC&.XKCNG=:Y8W!*!H5TB)+\2<EC^+OA3Y44O#7V0L7S;A
MN[KI?CYY=\JYMS;42!#L8^%XNEO(!1V]BF6XZP8MQ%EI#!`2II2RG<`[:PI2
M8+(?MP>6&8?]-U.D<=/8/$Y9YYX@YRX7AW<J&W#Y4I.-<K7DT_$JUJ`MJ+"K
MLL%:PPKW7/=<L$QTI_9EW<BDWY0<4^7/W2^%^0(^`_;]G^-.1X[P#48DWRYS
M1:X]C7*>975-F&.9&OBSCB)1OV4)K$K)K&9)?DSFDK]XP/;V2IW1$MOMF^)G
M.=UYK89Y0\P\9^8&`5O"G#.2<8(M/*SD#!'[F/=WPCQOW8X[Q?!*M46]X\>6
MRJ2W-D/-R&7/^YI[CN1?4)`==6VI+LE+Q!W0E*^XA'IW*'M-G?1%GZ(C1$:(
MO%$`=4]V^VP[^S8[@A6^XW[2-]M9!(R1<_?.SC]ZRQGC7R!H$*EYIXD\@CF>
M$&6DONKPM,'\HY9I41G%AJ1+R'!),A#;A27&G&DD$$ZZEP-LYKL:J-,3K%#@
MI7TMO1\G<?U&78_819U%E5/#OJVY8[0EZ$IE%C4OEGO<$9Q+BD^\D$!&Q&P`
MVU\OWO;R^0F-M"3P"LH(XGM!D:TFO$`K>8?83Y]:I-JEA%LS,57V+32$H0;2
M.H2G7V'D[=[+D/KV@[=QU-]HW++)Y:Z@QQX*;<QQM%0`,$N-MM^FOH\SQ*P2
M-/A52?,C45$=P]"1O^&_\/\`J:Q<QQNMP6M;U>=!7YYJ+"XLOG$FC:!,YS!9
M5M-A=G(L+2)5KM)3=#1S5+<2M.29%*BP:QOVRH)`[FB$*'_=%?+U.ECN'I(B
MR5V>&/\`%8O]@EW.X9)"W]0&H(&/#&O8G!B,!B/&C3'_`*A\1A%8>2\4ON18
MJ(J75+0#WN_^$$E(/4!.^LB\9+@TXI)'/M_AN'N)[23]Y27RW(G*QB)2UA:7
MDUNIQFE8D)6[%9>V2$3)#:>Y*([0)[E*':3TWUPN-;:.J<2H%Z]TI8^,D4Y+
MW%<!IL;8^KBB.Y<R7)$FVM%NO.B7+G(9%DN.A1)8CO.-=OMC9)2@=-MM1Q)(
M/YG?,KO:PR$5<2G&;(+:2@]R5-I0%!!1W(`V`[5`*2D;=`=36W%&@$XJQ#&C
M@*K&4PL`=SBAV#Y>YQ8[?ATW'3UUGU';@M9JF(M.6&'Q53(2A7<MY*]NH[G>
M[M/38IW/0Z&9O8EI%$XXM:?@%D*4TYU5V+/3J=E?JG=/X_JGJ-9%H^Y_6:XA
MO9ADI4L#0X%C0,.`I]RQ):&E-A@I0H.%(2R4@A:B5+0`V>BB3N1T_$Z/A;$T
MZG8TY_Q6K1*,`74[RHTHKK;.>;JVQ6[5O<?\<QI$.*6UN.V]CF:V/R.VCO*7
MW1W85--V4M:-U*>Z'YAKPUU:ONY];:D*4UK&"C0!W*2CD:,W\P!*_F'[4>B5
MGN6!W?VRQN?Q/77HV,B@MFM<UNH'D%H\!@U,`#CQ&!2:R^V_)<=LK-MY+,QF
M/]/72'4E;34^00S$4KL=;<*6W5!2D]4=HZ]-6=KZ0CQ,9\A^2J;N25HU!SAA
MP)3!7G%,V11S,IM[VSD\AUM3,5'R.+`C5K?ULFJGM+A2HL&.PU8UB7G]FV'"
MZEY)W*T]QU\U_N'?164+A;M#'<2T!M<.)`Q^*L=OA?/`Q[WN)/,G\UIDNYM1
M\47.(9>Q20476(VM%BV6TS<F%#1>6].[`KXTI@%<C'9CTE]*4(2IY&Y[4*2D
M#55[&W(2;?+1HUN:X5ICB.=%[787VNU;M;;G<Z70VT\<CVFA:YK'!Q!::@M.
M1J".&*XC<.?;^^X[@W)M/D6=<GX[R!202PM5!>\@92[1W]%!H8%<UCEICTVF
MGTTAU]<?=U3J%$DJ)ZDZ]`8;MH#]9`/(_DOU_P#W*_O'[`]Q>Q(MO]N;=8VN
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M58K7U6)RJ6MKLPR"#63<HK<ED9=*E2X[=NR](<;N6HQ2%@HZ;$`:@[)LE9"1
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MJ1V(9!;"DJ"@C<``'K[MNVWMLX0.DD(H,R>/Q7"0:'$1X-IPP6MNI',6*PT"
M/F>,6Z2[`QJL&14BZYZ7;2I_94/R9L!`BNO>RA2BE#;:3MT3JYAM;MD1T/>#
M0Y$_FN$DCQ&X@G`'CV++Q#%N9L0ANU[%]@UHS/FJN)]Q,AV32Y$Z;NV0RU%;
M`"&5)[/E]-MOT:X1VUR36Y<Y_P#J)/WKOLDDO2\3G9<RJY_*N:4TU[";K#HN
M69LM#4FL@XC)E1:&;7/.>VU.M;&S7]332$NI.P[3W]J@$]#MWO"\QL;&2`#P
M-/N79A(N'.'FPQX\>.:W-?@DW,<FI\PSQRJL[G&8-@]C=)!6]^35,B8AIN6U
M:2D=B;:='8;7[3ZD)1\I`ZI)UO!#)*/U:N';C]ZZU)?U:_J#CQ^>:?-*(47N
M:4I2%-E23W>VA80M8;0#[6R.U22E`_$;`]3KT,`Z4361^%H&0P697.G_`'R7
MC_-C]ZV:6T)!"6TI`[7"`@#;?HA9&WJ=NAUT<YSC5Q)/:N;6M8-+`&M[!3[E
MZ%)*NT$%7<I/:""KN3MW)V'7N3OU'PUA;("D$.GN20QO[QW&S/:E*U>Z?1O9
M"P3OML"#\=#:NGH\.IPSHF/!`4A2>Y*DE()25)(*>X#N*20=MPGJ1^&L]!L7
MF=]?XIB@CN20GKW([D[==TD="-OYI!Z:UW&ZM+.+60PGX+E;Q/U8DTJM#83(
M\5I*G5L':2VT6UN]BBOYN]"$)4%N/(3U[-B2!Z:^8[U[SLF1F)C6!Q-*@#\`
MK;T^A@)`IW*$?/?EM@?CYE7&:\FKKNPB\L\F4W"6.SJ&*A]RMO+BOL[V/;S8
M$GM+D,M5"FE*3LE05\V^PV^?03RW%YZJ!M#6M1A]RVUN+=))+>5<%S7\Z9^*
M^;W(V,^*S'.1\:.9^&\NQ/F+!HF6XU(:G7[JZ=4R._"DEZ5#G5\6.VMUUED>
M[-=4([@2A)7KVVS6M_<WWJ"^2AI_,[A\5H``*#`*.7A-BIXXXHY`P;+O,;C/
M"J7FKE+DN_Y.IZ.?:Y[G_(%G3PV7LLK7G'H,6GP*0G%WXRK!%&MT*][W0YLX
MAE'OYK9YTM?762*'BBZ,H\[O$W#N&N,[B1Y?XMA?%=E-_<WCFFPVC0ARS_(9
M":)>-"9<19,^-.>>>#1=(_9K<[G%)&YUL[9KEV#WN/>2?Q2F.%$[7&7D]X0K
MYE;\0\%RG';;R`9CRX]E@MDU-LKBP;K*:%.O$2\I2T*Z1+@X_*?D/HCN#VU)
M^"AKB?;[B05G4\>4T"TU%]Q#'[-B[FX/P5R)'X,Q+*+SCVNY[E/X_2\=S,BQ
M^]_=:QB1JY=TG(JZJF6Q4S$L?9=2MU*=D+[AJTMMGABIU`T]X"PXN.!)JL[Q
M^^ZWXD^0%1R'<U.99+A;G&^7S,6N8>=4TFKL+AB+F5?QVU=T<1B58Q["!8W2
MHT!M9=;[BZM_M"E'7*2QC$AI&VE>0_)0G.=J.)S72YI/>IM+(!CJ0!%!5L3!
M4.YM+BP?[H5#<;]2-<G6<;14QMIW#\EJ2XX5P6<F,RT5+>9:2%I#94XM*^\=
MP4$'O)W&XWVUIZ>#_P"VS_TC\EBI62?;1ND]B0/U@>U.WRC;<=/YO]C7/HPB
M7!C1AR':LAQYE8Q^F6Y[WS]T7HD(]%`_,>P)ZD?P?'5S;M:UH``0N=3,JU^S
M;80H_LVUG]9#C3!*4E124.N[,I+>^X*N@UU#W-\I("PF\F9JS82)-7AU/+NK
M>(X8LN8Z16TC,N(DELS+=U;Q>:6/U@RWVNG^<-AKM;:!*7N`+J9D*+=VAO(Q
M&"10U2%A<0NS,G9RV3&I:JYLG$S+>;CK+]C*?+:O=-3^8V,A"XL5PH._R[?A
MMJQ%RUHPI@JL>WZ'4*:NY5\G2<EK\DPB)BE*E3\V5:LLR&WU1V&+&9#/]YVT
MUUA]SZ**ROZCN0GL]P=@W.N)<7$N)Q6TM@)&^F(U.;S2<M<-F8134N>.7"ZN
M[Q(/RLEE8_"1<QLAHU[NRS+8?3!?<D/.I4E:Q^U2@D`C6&CJ4"\]>L?M;7%E
M6D<L/N2JPKDR^R6RA-MQ/S"FL.Z*]/553J14&84A\2FTOOO-.0OIR`%=Q25=
M!UU'N;=P'AP5AL6^T<.MXAVX_>GDL93,5I*Y<N,MJ2ZHA4I:&HY:':RMMQO=
M+BD!1!!`[03N?AJLCVR2^DZCCBW!>P=N4$LT;;=M&!AJ.9KQPQ^*YH^1W.V0
MP,@B8Y#A"NJ*V]<I[:KLKFLJ5V]7"CHLT24Y.^'A7U=P/[DIM#BW.WVU*23M
MKVNW[/!H:+AK'"G$`_>ORY[_`/>VZ[;[GZ%J^9D8.3'.:,_\N!71/%C#LL:Q
MUR$RPB&:>JDQ&F4I+3;?TS4ACVOEZAM2R4J]=SOZG7F)VADSV#RAQ'U7Z1VQ
MPFV^"X<!U'PL<3QJ6@FI2N6%^V@;+V[2".NVQ1UW&N2L-3J4J:+D5YB%2_N5
M_;.9/<MI5ORT'6NJFRVSBUY[7N(ZI*&OYNXV3\-%A2>\52H^2OGQN22GF/"%
M)W))2L\/8>[W#?J%%:N[?UW.^B*;LK_!)?\`N25_M#FB*(G@3_R8,6_X6<@?
MYW6^B*86B(T1'4=02"/0C;<'\1OTW&M7@EI`SHBM*;;65%3:RLI.SJO:]2/0
MA!"COJ'T9.2PK:6RTA(;:"U==]R!V]01L3K/1DY*3#(UC"''&JI4VMPH4I'M
MEL]R`TH)*E_'WB#^T1^CX:=&10KAKI'$LRQ5AR&IQ;SAV"UD*8(/RQG#U>6V
M/A[JM_3\=31@`%QZ+^2R?;;#:A]*H@);*&FG`E0?"D][_=LO;W/YWXCIK*Z1
MQN:ZKLE847![[R0OWEH[%(;DN)::92"I9;:;9[U/*2/@"5;:PNZ:G,,(=S?(
M<=CWCZ',&Q\Q+_\`(`J4AR\R&%.8F4DR5*;2@OUL,!1<CN#M*QMMOHB=I(6^
MEEQ1V^G;;7%]G]BVISM'<'FD[`E/H#^`&B+-D(:<6G;=Q';[J@K?;WU;A0^;
MKML?X-$5I"$).Z6DH.WJGX_HT17-$1HB-$0=@">P+('RI/IW?`]=$6FGU5?-
MC2F)\6,N%;1)%;;QY+2)$65$EI+2HLEIS=IR*XA:O>20?<3L-=&L>YAH/"N,
MC'.<",ESR\:L3K?&?FOE3Q;I[.V?X_57U_,_#5-E-AWHQ^HR)Z]BYKBM%8J6
MY*GU];:.B3[3@_8A]"&T]G:=55Q:-<3J'-3H7M8VCO,IL(DN5V65SS7>8F0P
MUMS&%MN-F#95^RWYZTN)04.2V4%)/J=]?-+UMQM-V.J-+2>!K]RG3/;(VC<T
MY(?;4GO'<4]-CVJZ[[=1N.H_3KZQM$@OMM;TL7]N'WJNZ$A-0`KC9#H)3_-V
MW[AV^N^VW=MOZ:ZRM,/[F"Y2?IX/6,\0VXOW"$]Z4I1ON0M7:H]J-M^Y0'7;
M45EY;MD(E)T=Q5?U6276AF+JCL^JX+?=>D>4_*G'&38]X_8]-'&V*V$?)<PY
M4@K7(RR@R+CF>W;0,5XWQ5EV/,LK*PM@RI4Y<D1NI3V@`C7D]]-Y++U+%KG0
M`XYC+D,RON7LUNSQP:]R+6S!I('F)'/#N[PIV^+/(G-#?!>&CFK)Z3-^8+&K
MB6RYM+1O4,-J%8%N34Q,K@N3I2(F408ZNV<&MFE/C;IKMM%Q,^0=4/`KQ:?Q
M"^6_W$ELO6TVS]NO`4_!30QO&45*7K.842;6Q0U*<LGSNB*[)/N28\7ZC<,Q
MFU*^5(VWUZVZTO:S20#CF0/O7F=O@=/""1E1*D-J!(+H6V"H-OK]IM*T@!7R
M]JOF]3M^.JJZFBLFZIR`.S'[EZ""-K,'!5_51D-H4I]I*"/E4I:4)(_$%PHW
M&J<[Y9$U:\4^2T?$[42!A5:M^9!<5\EK$=ZD]GU3'7Y>OJY\-8_K=G_C"XR6
M\KF$`8]ZL,R(C^_L3(3^QV_8RX[GS?VNR7"2H?AK/];L_P#[@6]M#)&?&LUI
MQE`(4^P/G[5*+@"4**00A:CL$JVU9P>X+:*S-)!B>:MHVQO9J/!-SR;<V5=A
MF0N5)4B:!["'$;*DQT6,R'`3-94"5,IB1775H]-U>GKKPFZ>](6S:&R&M:9'
MB:+H(&U/(I1XCCN.8M4P*"A@QH<6(E#X0VA#)EVA>^MLK#HX])=E6,X_4.I<
M/1?KKV6S[IM$<?\`NI0']U5&Z$M<:9I225N=J77>U#"]R'5*`0E0/\]1(""=
M_CKGNN[[>:.BF9TR[#$?=5<+AKF,HY(3.WVT8M:K2X5I<B2&DR(I9<4P4AIP
MNI<="XX(2D[;[*.QV]#J5M]U'.*QR1G_`.(?FJ>XB?(/!BF>S7R*X2Q^[ROB
MZWY6PN'G=-@=A?6F.V%RRS.KZ6!%2)]U*'O=C0A]_>OT[4CN.R2"?-^\]K;N
M=MTX:.GXXBE>_(J'#<WUN[HM'A;VIT*>FKL@P&EBV<2%D42?1PI:?J'S-;FL
M2HH1#>:$AQE4*2H_W,@]R%;$:T]H^W)MNVZ1]PT"@)P(/W*Z;<W5Q"8GBC7M
MH37&B@5YOYKS#XP\'Q'>(;"[#.:<AX3@D_*;4/9I></1LA4AR;D_M2T*CY'!
M-J6(OTLPH8CLNE?>$@'5^R#J"C`:=ZF[,YT,ACOW'H`8'S'+#NXJ,?VS_(?E
M+R4\C/)NEY'Y"7E+_#<?$L>;K$X\U60<BL;Z$M=WDK&25A4S/JZGVOHH$1TH
M?@37U=.PI.IMO9/CDZT@HP*+=!KI7/U'P?MC&A'&O(UYKN;#CM14EA*)#V[R
M8Z5I9V_+MG4-,QQVCY0I#B0L[E16E:E:GSOMKYG2@)+QV$+2%EQ>@QWX_2'(
MU60ZY\ZVP9:%$A*6PQ\X]U78WVI*`OKN"-]CMUU!VN2YLWD3"@J>-5J7QP'3
M!&TZ3AE^(3"<U>3G#?CW15>3\ZYICG'U?97]?C5.S=R8YEV<R3/^CCR6J\N?
M4".AYHJ=?4$M,)'>I0&NE_?.H7O_`&UJVYNIW=$QM;&<:U"1?%/(6%95S#RT
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M9<"D52?=-\K^._';%*N3D'`6<^4];10,B>OLAHIF/4F?\?0.(\6Y2R:/<WLZ
MZKJK'K>/%OGDN*]IUV:XDF&TH!1$"W@?=O(:,&\\/O5E';3/D<]HP[PGNXN^
M[%S_`)9E.0W4O$.,!QU&X4R+,J?&:9FQM\M=RC#^`\.Y;>D+M7[E<6WQM]^R
ME0%MQH#,CZ`H/]T7N;2)L=O^]A]5U]'<<A\PD:S]Z#G#CO&Y62<EP>(,]QZ1
MR_BOCOC=[QI4W2&87,G+6'XKFW&,?*$2,AEML4D%5@Y%L'DK+X9CH[4I6H`6
M++=TS>I$6%A%?,!AW$J(7`2&(UU@T4I>1_-;R"K_``VNN0E7U%C=[)\R+;QZ
MS?D>(1+B<<XLUR'#PRWS#'JZP9F,*>B!YU`$QMQB"L!3P`.J:YW6PM)Q;3OI
M,30`"OU&"D.MY6QF4CP`54?^9?-SG'B/-,SX3X1\M*/E&AQ3/?&G#IG-/),/
M'LI;D2N4L]GTUWB[1Q=^FHFH3<8(8?FI)<!4E*3OZ/ZM8?\`W/HHQD:,,?DI
MY?;\\ZN3_,7DCF[%L@QG%:&K\;Y*.*^2)D%,E,^UY\I;BSC9=$JXR9TUN/@C
M-*DRH3:S[J%J0E:B&SLEWNT@M73M=X!QH<^Y2(8I)VE\8\(-,<%TQGY;(AMN
ML4L8W=@AH.QF60VM,EY0"%+GR&B8C4A]D=RE`A"R=T]-?,-S_N#8]<Q1/D+@
M<M#Z5[Z+MZ.X(J`/F$RV2<QVF/S(=+D"(TJ[LU=L/%<(JQ>VK"5J"6OS"3(=
M^EA*'<`KO4E(/X#5+>[UNMTRCVR:2/\`,IT%L&><#Z)/9)&S^YCIDYC$9PK'
M),F%'CPI]FK(\HLIDV4PPE`KHK[-9`@]B@IU/<M&PV((!&O&7EE=W;VAK7:]
M8S!%?B<%(NWPB``'Q5"AESWXZY1RCS_P5Q;QYE\:#G_$EZ?*C.^2\LCQLH$2
MZ0[98'QYBQQ^)'@Q*IJ[@3GU.-UZXGTS$=.Y=#I*/O'MKVFR/;6W-VUK<.8/
MT"JNM'5,ODWVI>:>9/*BL\A.9O)FUR;(L5LJ&PJ\E;XMQ:EA*AQHMI`M</P2
MJH<E59X7BZTR6UO_`%7U$J4Z@*[@"=>MVVVL8/U(\68T\-$ZL?-9'%/VJLUQ
M#D_R*^OR9O%\.R?Q^P;AOB7D>KB4;F:0>22F[?SOFJ!3OQI47$IMI7NU\&<$
M*7*L4P@KN(V4)-\&2/:ZWQH>Y8ZS$EJW[%.-MPZEN9S95/1Z]7+SS4.OXGPY
MJHAW?+46O@+MZ>FMI=Q#I8]9(JQ/>;2\')LV0I9+?5.N?6NN0^:"=G%;'@K[
M>O//'WG=B^>#&8%)X\\4\A\N\H0<KO6<'>S_`)-R?D'#X^')BIR+'FYN5-4[
M$5QZ2F/*#3;2$H93N-CK/JYHQ^H,\EDRLIGCW)_;3[>7*KG'>:>/]!Y++QGQ
MSSWDB1R/"PI/$U=99MC@L<VC<B6>*NYI(R=;'[L+O8GLE;D-,GVU'L.VJFYN
M-P>?T:?-8ZS%&_'/M(9AB/+?CQ&QWD2NRGA_"?*#D_GSDK*)&/5..6+&"7,5
M%ABG`\]AHV#N25:<TF*GM/L".Q&7"05(2I0)OX)6]!AE_<TBO?3FH[AJ<2*4
M*^AIE+B5+>?C)#Y4MMQYM:0P8[)[8Q:8W)02CX>HUSNY8N@:'EP[5QGD9;QF
M67!@Y8Y]RM+;?#Z%-25E#A*%M=B5$`!2TE`<`!5W(^'75?%!),*QC#Y+;_V/
M4G]GG_!:*LOX%ZBX7#>?>=J;2156@>3LJ-.CMH[FMAM\O8XD@^AUUDVJ]9*"
MYHQ',+CMUQ#NLCHK%P<]N8.'WK=PU)00E9[%@[^VL%"RD[J"DI4!ND@CJ-=V
M5A`$@(^J[RTBG-L\MZPX5'WI#9D&,CEL86F4XZN?V6-Q'4I#;1H?JQ$6PI"5
M(4PW.>^5H[CW?4=-97)D\;_*:IPH4&-!81$C,I:A,14QVHNS;?5(2$K[&4>V
MH#8]5J*M*D99KJ72,&J/-7V6TMI(#0;W).P(Z_I.PUC4_P"Q6G6N>7U5A^*V
MXM3A80XM(2M"G-E*#A_9*#*B?V)#0WWZ;G4N.5H:`XXK.W@LO'SW6#'?%)_*
MJ!JZHK.H9>^EDV59,JQ,=;]Z/&8D1G&VG51N]`=6VZL$]1OMZZ[17$390YU=
M`*I_<-B^_E:^W`Z5?%B!0<<.*0$&GR6EC5YI;:,^S%B-MR:^33!A$Q56@$AE
MUR>ZW$7*_F%2=M_CJ3->6TM<".7;]%4P[2(L&A:Z?C5QR!-CJRNAQYFCBN&=
M2J=L[.3>1[<#]M'GAM;,'Z!UE.R4-E04H]?0:C17+(2=!I7L7IMEA@AGZEU7
MIC#FJ\I\?>)>18-,QEN`8Y>5E.A]5/`M(Z9BX*G4#8J]YE2D2$2F]^_W'.A'
M0>FMSNEPT>`U/R7C]]]@[-O&]"_D`,5<33ZT3P0*6)5,QHM?%BQHD1IF/&CM
M%U*&(["$MLM-CM0GM:;2`.@&P]-5KG%[BYWF)JO;11,@B;!'^VQH:.X"@6X6
M0E*B?0`ZPNBY#>7((^Y=]ME1]/K>7T_QJQBZ`']C1%)?Q4!_K.^?R/B.9<#3
M_&>%L*(_L'1%-V5_@DO_`')*_P!H<T11$\"?^3#BW_"SD#_.ZWT13"T1&B(T
M1&B(T1&B*E:NQ"U]JE=B5*[4`%:NT$]J`2`5*VV`W'71$S_+',-9Q-21+^TQ
MS(\AK)DI$(?NO"EV\QE]:._O<CU+,M8CL^CB^X!"NAT1(?COD3E3D)5M/G\<
MS.+JJ'$;F4EQ<*8OY=A[\V,8GMUTF/"?BKEPB>X=%(]SJ3MHB?JEH(%.W);A
MQOI42)LZ4^RI]]]9DRI3CKJUJ?=<]H_,`$(V0D#H!HBWR4]J0D>B1MHBJT1&
MB(T1&B+Q1[03TZ#?J=A_&=CL-$6"]*84@I0\V7!\RD!200D=">]Y3+(`41OW
M*3T]-SL"11<\B/)*/PA65D#&\:G<I<KY1(>K\)XJQ.4RO(<GD-L)?D2""R\[
M645:E7?*F26V&FT@[*4=M;=?I,(11ZO/%CF?E[+ZCFCESE3$ZWF#`%5V0>.D
M'CVGNZS%.++"3"FL7D/,F9]Q*3R%*S&*]^63'I&T=IME"X[:2D;TUS=^//BL
MTQ6CK//C":BVR'CGRNKVO&//<1]N*B7E<N<CCK+):E)=:E8+DUE'8C6ZQ!<;
M=6VEU*D=_9VDC5=OVS^JI*1PX=RGMH`I,\,>8?CGS`];4'&_.G'O(=SB]>BV
MM8U#;I[H=&]+,2'9>[-1&C2$R2DJ*$.*6V!NKI\VMMIOQ8,Z!-*-6S3GW*3%
M=>QKB,Q-JY,2UKY9:$2RK9D2172B\[[:!%DA]'U@V!/>TE;1*2$K)!VN'7)N
ML:U5;>?5(/.\M<AHK*JF@KLKG(4/AO\`OB3'&/5R%N0I.46:4C^]J^&K=I0V
M[E+4"#MUUEEJ=6MX\"I9`&.ZC/.D>VJR#YP*C0Y%_):V+&?O[)0>@AZ2&S-(
M?8:<=F-2(Z0D.*=2E#@`5JW%[M%I`Z2;27,:33G099+I!N^ZMG9&RNDN`XK>
M.W&-T,6/75L.%;64&.8:84=3#SZ72\'ER)#D2.XI+C[@VZ^X$@^NW77S+?O?
MC&,<=NM_$>0_[5Z5VV2WI,]R#0)31)^8V44)^A9I9+S"5-)FOHLHK:/512TT
M&"MQI'4I6D#;;XZ^:CW-[IWJ\:!'(R-A[16OR6P;!&.G#2HS5NNQ++^QUR]S
M=RSAO/%V$JNIJ^M2P#V[LH+86^$I(VW*M?2XK'=+JT:;@.K3C_U6*XTXK=/8
M;12BK\PC/3ED_,N9+?D]YV`*E-N++*"?7Y0!^C66_P!OI9V";JD:A6E<J_\`
MQ+*UPX_Q`=44=>XH=0A@++I_'M"UH20!U(WW(!VW.PUG_P#YW+QF-.__`+D-
M4U?)N3\"\-8G,SCD^^Q3CS#JR;#@V62V$]RLAQIUD\(]?&'MJ=FM2)<EP(27
M&VSN?3;KK`_MY(3IZYJ.W_N6*I#8#SSXB<L0Y4_CGFSC7+ZYA]VM>D,9\2VZ
MMEPA2&D3K2'*<4PXK9Y]MI3+.Q'<2DZX3>PI&2"(SD,ICC_W+4SF/PKF!]SW
M[H7#?B1.P#BC$9W'>?YSG,K%BU6-\@//_75:LDCQQ0M"E1+FO2)[RC[;Z5N@
M,H4M20E.VK.U_M9M]PW7-.-6>)'_`-2QZL]JG?@_E+Q%G?#>(<OM03&<R>,T
M]+QAG*93RL6D/VMI4395E>("8YK91IW`AU#1#+FR%[$]VJO<_P"W%PUA]-.3
MW'_N3U93;6OG-XWK<DN+\U^#>-(<"::J8Q]9*OIE3?,2'(SV,V"I4]J%+>5N
MA:G&P'/P3L"=>(/]MM_GE+3</#!VG_ZUSDF,@TUHDQ'\[/'NTL8M/C_G!Q%R
MG<3+"%%-"F*BBC1'`ZZPV8,>6EXY%,G./K91%V]A1(4O;IJ[M/[?[_:@`3NI
MW_\`>N%2.-0N4/+/BASWR=RYYCN<$\"V^/X9S+Q[RI`Y9M+RUAY?C?)^0NP*
M5=%=<=LNPH^4<:9%/?B(AV-/!FNU5A!?"E`^VG5W<MGVJR9;7#BZ:,8GF>^I
M5K9VMJ]C7R4UE;B\\9?+GCSC$XIQE7\Y6>#8YS`RJBX^3R_FC<C&)^2<1XA6
MUW)2<GL)IM;'$^.N08,^4N@<"X[RU=G<A(Z]=K]PM$1B>?"10J\DL[1MH][*
M:PW!-8KC[[@ODKS1S/BN!>3=LC@C%8O(-W;>:,^O%MQ1FF9N\7X3C-GQW"PE
M^P:JH+-%8)EQT2T+#C<Y!<W*AKTMINME6N!'V[%YP8)K?#S'O(5GB7.<Z\*^
M$L^LN/('*?-?$;G&>!9W8UL=RUR+B?$,?@\C"^M(HFWT+]\XDNU;9*EI;GO!
M:%H"=E3+W>[.*WH"!]NY:F$RO!X!9'DKX^?=ASC/,#Q/`W^><*6Q@W%&%YYF
MV+\A6-;29;PM"H<!B9##O<?C293[&=U=D_=_4VB'`Y(*-]MR"*#;/<%F)SXA
M6JN[6T\.`5_R[QKR`\=L58XSY`SKE6180FN7,8\<L3J^9\KQW+Y%W<\HUD["
M<R6IR8E[--Z!SLC09#SY9;^39'H)3_<-GK=73F>/\%226QZCN\_>NL7DUQ1S
MIQ7YD8QY?X_XZL^8F%Y?X]X]Q#9<6/-$6G&T^-&2NTN8LC*(V2T;C5Q8E8FI
M^A;E*?=*`[V[ZK]Q]PV0MB?#F/MDN3K:4-.@>-1"\AO#WD^7S'@O.G(6'9WA
MO&\OR+S2NFTM%F]A5P>$>,LLX%A4=9R!#?KYU='CP>.<GJ.U.W>E!8#:6NT@
M"#9^X+,',?;X*/Z:[/.BZ`_;>S/DV!X_<>YKEDGD3DWDSREO[#)).6Y4Y?.X
MI05M)&M:JNRJCIYC#::+&I4=AI]$.-[3<ED(W5N2=3CN45Q*)(_+S30]GAD\
MRD9S1X'>.W(N98'S-RMQ[C/)O*V&W^.?4Y,J`_2PKK\YO:LOS;BAKW45\YZA
M<VDQE/)6KVS[*B6R=75M>@-J\X`5/<L4KAS4JI?B[XZ2<GOLHD<%\8JR')<7
M>P_),C.%U*YF0XH_);<>QZZ#<<&?%?;3V.[]5)"0?D;0D;#?MGKYF?;X+O;V
MM!JI@L;)/%OQRR2HK,>R'A#C"WH:VYJ;R/3R<+HIE8U,I:R/1UBVT6:$H0B/
M3Q&XOMDJ0604E)&H&X>Y;"!C?3.&HDUI_P!%:B)T;:MQ)"PE<?\`!]`F6K'\
M'P*NOZE"Z_OQ/%Z+\YQMJVKFJF8W6RTPFU5OU<2-&:44*="8X#.WM@)'DKSW
M<-5:X=Y6[0ZM2<%S(LO$GP+Q>+`P-CCJ/.L.,^8D^1EWC-!:2LBM<<Y71LW&
MS?D9D^U`L(C44CZ*M]M+8=7^JD=3YF7WCNL4A$1=TB<*$Y+'],+B;BF>*FB[
MF6%W=+=8EB'#UIR9C^=R+2UM*X8M$J,)S>5:5TJ3D=U8PIT!->T]<RY0>=7V
M++\QOO!US;_6-SD%[1Q(QXT0Z&-Z<GE28I^$\2;QY>,8UX<X1CF,6[5-165,
M[%QN.RJ/339=K12)L%5:69*L<L7E2([K7MNE\(6I1*1J7T=YI@'5^W:N09:5
MJ=-$K^$_#Z#PC4W>/<>/TF'4.=91:9KR5>XM77;V?9EDEM(?EV<FRMK6PE!4
MIZ7+<2IY`+:&"&TH'KJSL;;<YHC;2ZO$?I3O7&:6*(Z8O*<5(2/P-AR&'&)D
M_(Y$-PI=1`_>F>*MQX`>D-"&"P0?UT]Q'?OJ3_X?;0?KW+14XY#O7(W9[5OT
M0Z#CR/$I,,Q.*Q9W4M#3I@-(7-2R.T*G2)#Q=?6QW=5(4L!0WZ]=1[;W#%([
MI>GK0TRY8?X5J;JI!Q38\^\I4W`O'TWD.34L9WFSLB'2\?8HZ^*^TSK-;%4X
M5>*T;I;?<KK*6[!7W%"'2AI!Z_,"/0P6S-V>V)D.FAU5TTR^`6)9BYM,PO/&
M#B_*Z']^N6.693$_EWF>PQ_);RJ^B3#1QSBL&L9_=#BRO6R29\+%2IU3DQQ1
M=E2G7%*"1VI'T.`&*T%N3D,OHHM:J5+<1EOYDLQN\]I6KV$A:E]B0LA\$/A*
ME)W`W('PURA9TX]':5A7"PA?]U:C/$(4`'6`YLX5]R%]RE=Y"$=.IW/XZZHK
M"Z^.2M3;26O>"@\ALE"%!0(/;MU01OZZ(KJ8K3:$):0D%"&VTESY]DM++B#W
M)]M9))V.Y/34:XX(J783"E27NQMKZSM^K6'BVAQ2/1(;*5]J"/T]=15A7DI8
M^1"&8W;VCVFVEM-$I'0>RT5!M2/TN#NU8L\H[E'=<-#B,,U4M25-/%)'[)UI
MEP_-LE1'<_L=OF]A(/I^M^C6'Q]1NE:.GA>*34Z?%,OR!R?1XI+BT[J)-C9$
M/S)S%4S)G/UC+;+CD'ZE,=DJ:<LDC9.^P02`=]]7>U6>-"*C[U4>[]V])LSS
M:G#3P_@H.<,^1MQ;2N5,E7C)PUB)G\^#8XWDI>,I34YUB!4.39#+19ARK60W
MNV2A02@CN('77J9K>V:T-EP<!5?%/[<^X]VGWF7IEVG61Q3VVW)O*<ZZQFDQ
M]^/11+$_6RLG:0C)(+YCSDQ;3&HK:RW'CO4K2O=D2`HH"/U4*.J&[;98Y+Z"
M9=XGWYSCJI\?S4H,2I7:J5)LI4@VEM>R_P#PS9/-(`=C1(GMU\>`@A2HE>U)
M/O-M@G96_77G#DO<662<'X_Q?ZNBM_Y/BC1:HT1>O):>3V*;Z*3VJ^;UW':=
MNG3<:)IU^'FK*F4J4O=*0A:6TE`&W5G^YD'X#?U_'2JQZ(\U9<A1W00I&Q`[
MD=IV"'TJ!:<V^(2-P1\=]%GH]'#FLA#:&PH(':%K4ZH?#O7MW[#X`D>FB*O1
M%:?_`+DO^#_5&B+D'Y@D_P#25_;2`.V]IRV#^D*QZU:'\A=W_BT129\6IB4^
M4'GZZ&CM_3-QWNGO]?<X7P<>O;\`K1%.*5_@DOI_]"2OQ_\`>#FH?7?V+"B)
MX$_\F'%_^%F?_P"=UOK!FG=01TU5Y+*F%_8_EU.@@N)!5]`%A>?Q:F="-N#J
MZEE'\6M7Q1!I(K6G-$:B(C1$:(DQ?W\:`L5;%Q4P[RR0&:F&[+B_6MR0>Y3K
ML*4XTIY"VNJ>WIOZ;Z(LVIKF8L2,(R6VHR`X`ALK0F1[Q*YR>U*TH*'I9[E#
M;?\`BT1;;VMU(65NDMA*1NXI0(;<#B`KNW*NS8`?@GIHBK"0GO(]7'''5J)W
M*ENK*U$G^$[#]`T1>Z(C1$:[0L8^NM$?Z#J/.]D?E**RLN=Q[7&DCX!0ZCI\
M?FUECFN8":UHF*:K/.8<!XR9L)_(V?X7@=7"=2X3D5S70K!R"N!]4/IZQ^8W
M:/R%K20A*(ZU+W`2#K84=X6^9%!D>0WE%Y-9!>XIP-QBUPOPR^Z&:CR=Y.K1
M8.Y-6.GW$3L"P1]Z`IFY8+?=&5<%$5:]EE*MD@QIS<1BK:?),\E*_AKQRXXX
ME5-R:!`FY%R3E#$5_-.3\LENVN<Y58H[S,FSI[CO94MV3VZG8<)N-#[0E*4J
M2-]<89F21N]8:2`X4P%/JB>:R=K("53K&77Q8L=YM3DJ:^XEJO\`9:4ZQ[P+
MK:&$/.ND-)2%)"B-@/35+==/7X.:R%%S,.0SELNPHJ3B2LY%IJY+IA93F$."
M]C!OZ]2!:5J*U<9^_G_3ID-%4R$R60@=JR-6$4V[7,);(&%H'!M/Q4B&0/-'
M%0F\C\%XS@8C57//_%F%V%QDEM&8XPX2X_QN-7Y;D>?QH;J7:&5&PTQ[S(4Y
M#1-./OQDJ=8B-L)+R/G4->/FAO6WY$@&D\AV]ZL@R+1X*D]ZYS\1^<W,?"WD
M3'PW!>!JJJXJR/C.[R;D'A'!^4L-RCD#@:919-5UD2ZL($%]ZN3,AUKLIYRJ
MJ(B7>YL-^W[O>=>G8R>VM^JSS4XXKRVZ33L_:`KW+L@ORR\=6*>BFY?Y!8[Q
MW*R^MC9#63KF;!FYI9T$IAJ6V<DIH#EE)QYUQIX$UCS+#K0=*5CN3OJ+_5=^
MG'28(O3\]&/SU+6SC;-")9?W34&F6?)9L7RV\)*>ND*5S[4Y"Q(1)4W2PD9'
M82I#TE2I+-37PJJ*)+[+ZM@Q&<*E+=*03UVUPDV>:Z!?<%]<R`:`JRC+8B"T
M-J,L.29*J\^^9,8RQ^\SC[?7,N#>.T8+=B<P5'L95<HKUA3=,]-XWI*0Y;'?
MMRMMQ2%_,RA1"N@)U*L-FL8Z!\33W@?DK`[M>N88Z@-/8G`3]SW"KM$BMXYX
M$\G\ISJY2X,2Q2TX2S_#ZF;=N-O&MH)N5VF+?E]4BU;:#JI;RO990H!>PZZO
M)K2QAZ;K>*-KAR:/R57$WHO?(TDN?G7'+DEGPOYWN7=@SB'E-QC?>(O)<A")
M-5C7),SZ[#\E@_2N/3%46?0*^/C1L:]Y)!:][M<24]=R0._KY2SIZ8Z?Z?XK
MOUG]BFA4<C8E=K]BDRO#[Z=[B=ZNNRS&9MNB.4I6F48T&Y=:]M2%`]%J_C]-
M:OC8&:]<@<17S8?;L4D/\()S(65F-Y45]+->N\LJL2H9$0MS\BG9!74B:J)(
M(:=G1;:0Y"7%D,)7NVM20`O;4&-[GS"/J24/^8K88YYKY:<%YR'(O).=9W6<
MV\B>0/!T[R9Y,X2X'.><E8SDK&/1>,N,+V=EG+2H$:F;GWIE9W%DU=<F6DH8
M88_9.++J5:G=#_/)_P"HJ-<3/B:--$QV#>3O])T'B#@_E'@7PYY:YDM\`PW*
M*SGCD[%68/%B<2L,0GY):XCF4NLGUE1&Y744I2&'I+#[J$;;$G?6'[1'<CJF
M2;6,,'T45LCIAJ?G5+WE?%_';EO,OM5IH^#<`\1\:\FX7)TKD[D;$<;K<7N\
M0M*BMM:&/64V5VT9RHK1?165B!*EO2`U'>2E![D]^JJ7:KJ)U(Y9J`_XUN`M
MW;\>5G`<F3Q!X\6F,Y;B/#'+_C?Q%CU]S+DUARKQCEV*\LTWU\AJHP!=PFGQ
MJ3F>0-%ZTMDN+:D3'5N1.WN*=6%LQSGAKGO(/^9<IA(QM153$^WGREF'W,;A
MWF#->&>).*.'N&<TN,2X\QC%*>@F0L@S&'7O8EGMI>R)\10L7:2PA.K@I#+7
MLN.)/[3MU;E@MVZF$ZB:8E1K:::25S)*:0.2[FS>&N-)!47^.,`L([H`=-AB
MU5#=3]/';A.OIGQZIA*7WVF^@24I5W*(V.Q$=SWO%"2IRY"<\\P8U]LO,F;;
M*LFS:[X*R"$BWHJV/"9RS*L#MC;M59P[(XM:E=F>,,E%HAZJEK4R]$EUP94\
MXAWM1Y/W;LKI=O\`56^HRO&.-5-BH&@XU[UD5WE-PSYDY4]Q-Q)Y&8K%X'AT
ME?=\@9M3%YK*LWL\UG2GK+A:FL'8!DXY<542,IRQ:;9?L&(KZE[M]"/![![>
MN[J31>!PC)QI@:=^*D2WDC87!IX*5%/9^(_#D&'BK5IQ=Q;Q+QO#568]$EVC
M.)XV]<6+WU]U',1V1"C6DQ*NU]UUX.6+SJMUI2D[F5NNT[C82Z+#5T1_BQ_$
M*F]9-0G"O<MU!\G/'9['W;OCVQ?O\?BF2^FSQPVE3B[BJS^_>\W#:8T)];RF
M`AGN=2I?HGN^%#N-G[BN@QL`\-#JPX_-6%G=%S7$@5P40.//N$\12\HY(MLA
MP7EG`(UN[CBJ%[DZ-E6$4,NIAUOMRJ[$+>XC04Y"B7+:6ZH1W5I=#Z=E==]<
M]O\`;>\1NZC@=7V[5:LW*9@HW2G"M?.3Q:OW?ILIJL-M36PIYK[NP?D3[*GD
MMH??D3*6?)9E6%-+EK)[5LNAS?;=2B.ML?;MX34ZJGM49US(XDX5KR7)K'?O
MF\I5/,(QRQX3QVQXWL[-$#C)FVF6-;GO(,):*]%3/O;Z\:C0**U8BRG6QW+*
M9#3"G>U2_E.KO:[I(G-N^IT@TNP-#498XX<U*L7&:?2Z@&DKO=)BXQ<P(-WG
M.0,W5<MF!889Q%B3<29!<F3>V=`L98A(GVBY4=N6'98=<9BJ=<5[B.T;:^;V
MS;XW$T8<2UE=.?;2N*[BXI/TAITUY8I35G(')V,UC<O]R,>:A-N2FDQG)#BK
M:'4UD.1"1'FLU#HK$.V3##2&Q&2A"`CTWWVA;=[O]S0[D=L`AZ0.%8S7YZEF
M[L;-SS(2[41CC_!:;(\\YQN:FMB*QB@B3,O75M5]-2RY;U[2MOSHH=L)Z>]T
MNL(IHJ%-]_84N;JZ[[:^M,N_<-Q9%C!'U'L('AYBG^)4DL-O$[PDTKS3FJP#
MF6\B3*P9G"HH^X6U)?@_GDX.=Z5#ZVML"J"AH]NW:L*'Q'7;7E;#V5[QG?IG
MDC^`I_\`.N[+RVCP;6G>MG6<$W,L-R\BY7SZU>:;,>=5T4Z#C.+V*DD*$7\F
MBM$LO=.[W$.)Z#;XZ]A;^P;^U:'7[W.#LJ'Y\2EQN/4`Z5-0[."5O]"N"".&
M7\<=4X4I'O2;>R?F%Y#[$A*9#[=BI4D!49)ZD#8D;==3V?V\LKG&3KT['T_!
M1?6S9>'Y)LX_B5QRUD&69!$F9,B+F%U)OK_'V[LM5=A8S`E$LEI"F;!4=:$>
MV&EO*0A`':`>NN`]IV3+DVCVR=.,T&..',TQ4K^M7HB$7@T`4'A_BI#XQB=5
MBE)5XW41/9I:F.S#@0WBI_Z:)'06X\=#J]W`A@*)3\V^_J3KZ-9;;9[?MSF0
M-X#/'CW*OFGDGJ'T'=@E:MEM:0D)2@@%(4A"/<2D^J4J6E>V^WKZZLH+"S?`
M))&@'[=BB],<W?-8TMB*B,5+0H--+#JFVWGVP2D'YSVN@@;>H&P.O/WUY8V%
M96!O5;ER^2:7:@`?"D$_D;MA)?I<=<$D--ERPGK2DQJ0.']@ILJW,UU]T]GM
M@[H_6UY"X]Q7>Z/,+@SIC_"*?BK2"T@>T=0N![UMW*EB#'<MY2XC,M45IJQG
MOK4W[$6,`Y)_;=_[!K9"BXH?S=_35][;V^UD=JNHVZN&`5>6@$YYJ$G%+S'E
M%Y!9/S`^]$N>)N!YTS#>"9#C2),&\SJ1'BN\C<GL*<:<K94RCM4IIZAUHK7'
M")*SO[OR^W+8K<:8&,:#R&/S3(KH)%8<:2I2W%+"^WM0M2E+0I((<42HD_M5
M'N/H.XG;IK@?$:G-%E_A^.E:E,:XY(V*OE'RJ(("B-P">@/;ON0#UV^.G<M]
M4`!).-%A+F1VW2T[(2RE*0A4F0P\PTM]/582%;`!6VPZ^IUC2]1O41<PKB9'
M<MH$)0B05AA9"PE993WKW*MALM)V'Z=:FUGG%6?RYK5UW;QC5(<.])==VW*F
M/L1[>&DQ_<$B*SW/KB]P4&E2E#=AKVE-GO[B#LH;[:S_`$J[IDJNYWNW:=-L
M07=N*B@[S%RIE^:SZCC^@G1*ZBG&GLV;")7R:2ULA*@NKG*LN]#T9EFN>4I2
M$$CN(/PVU>-VZW9`#(7:Z#BO+,W'<YKEPHWI%W+^*?-5#F6:+8D9'?WF+RH(
M7$3!Q29'@QUO'_")DAR>PMR4GW@D)V`V!VU",43'T%2O3169NX=#]0<>1HO*
MKC1=9DK]\_E-M8_4PE09S<A,!3MANW[#B[-Y(291:![4;=O;OTZZFQ73X11E
M,P>ZBH;[:[Z[)LI0?3'##.G?7DM?A7CKQ;Q_:9/<XS1.)L,P=D/WOYA)>L8R
M5S-OJFXD22[)991*0!W%?>M/\PIUROMQN;F0.>1@`,,,E-]N>R=F]M2&XLFR
M==YJ=;M0%>0H*)VX^+4+$%F`U50X\5E+:6XT=A##+2674.LI;0A(]OVUMC?;
M8K_G]VJI]9/,2O6LCCCN#<M:WJD<L$H4I2A/8E*0.UI(Z=1[2NY)'P!)]?QT
M[%SCMXXO+5>Z*17"G!&BPC1$:++26FHS7N_^CKHNWJ'\A\EYHN;WE^)HC1:(
MT16G_P"Y+_@_U1HBY!^8/_I*_MI?^5>6/_K'/T12-\64A7DYY_@^@YDX[5T_
M%/".#+'_`+(:(IUS_P#`)P/=NJ%+`[5*2K<QW`-E((6"#^'75;0K"@)X-<@X
MG6>.N+4<C,L;<N6<OSZ-.KT756PY'<<R^Y4AGVG3]2F2$CU)Z;'?4:ZO#9,;
M)0XNHE0IU(EM/M!^)+;E,;?,]'EMRV8Y(WV??:_9K*O4;D]-2+7W`VGBHMPU
MQR!JJ46*42?IU2V9"E!*G&$.-M2$H4DJ0IE!4%J"D@G<#8['75^XB5Y>U[17
MA4?FL].7,M=\C^2W:2%?J$D=.FX4I(4.Y(5MN02GKU]=;QW+G.`)P6E#D1B@
M*21W!25)W([DJ!3N/4=P)&XU)ULYCYA9H5Z"""H$%(ZE6_0#TW)]`-]9#FG(
MCYK%"M=:3V:R*_)F+,>.@1"W,(*FV)3LHQVVY"`?F:<*P5`^H&E1S"4*:K"N
M-V(UI-S+-7(F29_+FOO-WJFT.2*NO:68]56T$5X%$.([7=I>4GM*^I/7643Q
M!MIE+324H;0UW^R@`)2@+)4OVT]-@HG<[:4**O<;;[C8>IW&P_A/IIEFLT*]
M!!'<""D'8J!!`/X$^@/76*CF%A>;@[[$'8;G8CH/Q/Z-*MYCYHO>@4$$@+5^
MJDD!2O\`8I]5?Q:SGB,D5"UI0@K]Y+0WVW*$.=Y)[>Q/<=@LJ.WX[]-<I)FQ
MC`BO>B35UD]3CT"PNLBG1J"CKHCC\^UNIC-3#B,,@N+EF5(6F*AL)'\[KJCN
M[KM'S1<UN3O-.UY1R%GCWQ.M:9UE]Z,,LYVRL1&N/L5K`L,VLC%'YTVJBY=E
M<%G=EN$@F.N0ZVO<E).MX[QN@"N-.:SV)8X%P[XI8.E_-7K"JY?Y#ER&KK(N
M2>:)1S+-Q9H'MK=09\9FSHJF,VG:#'@0FX,;8=?B<R;B8(S,PU(6.U2"ON99
M[;]2G%^.<@SC#V%LHR#(ZBK2AJ%`<@L_E`I8+K[#EBMV:XGN4WVN)`WW`!U1
MW7N.8UP=\BL]^21S/*7DR\Y+:3X]>PTY+>:A3YV:4KMBZA:S[4N;6094:.A#
M;93W("BZGT42=>?EWVZFEH&O^3EG$\$LZ['<GNZM5_SG95,INK6'T8I3,*9Q
M.*V7R8WYQ)?=>=LY45:4N*[U*#;O<$]`-6MK+/.T$M?\C^2T+@!B15+3''6\
MHR*59UTEB-08[7OUE7:J2A+#\^869%K[;"T@.02VRA7?MV+4A.^^VOH5E>1B
M"CQ3!5MM/)K(QS7#W[T6+^0-[2Y5'\6D6E;SK?\`COEU;PU<45DS59*G+XV:
M4&0YM&Q:Z4I$2'EZ^/8DL,K;*)#\3O:2K8$:I(GQWNY]("M!7Y*\9.ZF-:47
MYG/&0YBI>5*NYPQOE17*E3E0R&V>H(64?O0ZU`MW;3);>>YCRD65A7)AB0Y)
M?<*0H^ZM;B-DD^RELX1:T-*TYA;/@9/4&E?S7WA4OD"/&ZVNXO`=OBT[C")S
MKR39<;AY^+.X\O(5-P'19BYB:+-J`9]W1.\@2)+LEU^=(4Q(4MHJ.YU3,$-O
M#ITXBJC/A$#NDVE!R3S\F_=-Y_XR\>V';>=X_P`;R8A<@<A?EU#&P"GQ[#LM
MP3`,=PV^F)9RV4^O'<?NXU=DSP#4B:)+JF0&6@L)&J\W^J=L`:=+G`9<UJI,
M\*?<3\L.8O,_B?BR_P#Z/Z[Q]Y;S;DKC1N%7U]C4<BX_:XAQA69Q"O(^3QW'
MHZ')+]U],S'=04NQ4!1V5MM-N86P^7.O!$S7%G+M_P#N1Y:\L<B>:O/]1Y/\
M19EY$5-%XUW?+S-/`.,8>,OK\<@6&%NU;\F<F360&9L6RA%MU@=I[R-M5\4C
MI2ZH.&2*+^)><OF?9\Y9UQYFF?X3SMB_*.1\#<5\3<;<CX#0/IP;/>0X558J
M4]%CN,=\96*,SR9LU+@FR(C;9`#SAUVH>16%]!N5_;SXCR:#)J?W&XVJ(<]*
M7'I%!AKV%73B820/9798I8TDA*7%[>ZV)#B>_<))`&HUS(]HH*GYJ<PC0.Q)
M3$/M>^-A59-9C@,#(*>9'?JIV+JL,[N::XBS&E,W$;(8^1WD[\QC22YW1TJ2
MH-H3L-0K!\AOVU!I0\"N@<`<2*44O,"\2/&CB6JKJ+C3@/B7#8&/-MIHV:7#
M*>,\P&V4,?4%MF$VZV\W&0$]Y420-COKTX4"[J6A-/R%P3XF8;Q[(Q5WQ\X@
MN<<N<IKKRMP4<<5CT.^S5D*AU-LNJA0TJ<D0')"T"2ON0VA9'0'5/>[RZPNA
M;@&FD'YJ/`"6'O4,_)ORUP>KS"\X43X;UWD!XX<"5V+(\LLE;@8O+Q'@@W%=
M"G-0L=Q&9-@VEK,QVKG-2+%-9$?,6.K<?,%#4N'=6S-H6YCDI`!."53?EG]M
MJL:KL`SQ7"6'V&99*Q^Z--CN+PLF9M\?X]R")B_'.4S),&KM8E3^5/3&TU:Y
M'8*LD*26^AUTM@0\$U`5E<0LTT!!^(2JX3\G_MH^-M5F?!/!V;8YA5'Q6QR/
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M+7^2\T0<UQW(*.11NPXUP]'CQ5V4-S<^TA#@V!X2NAL('21@`@57/KN=X2<U
MLF\\^W%X\\G8Q1Y_P5.H<MY!@X50Q<8Y(@99R)<XP_*QZ[R.\7GF)Y!/R)&/
M2:A%`ZI%DLI58,J`2MP'6UN8KZWZKVU-.(6E.Q=?N+E<)YKBU5D'$51AMKB-
MK709=7(QFEA0:/\`*;)!DL2GH:([2@U&0EQM3+B=TJ[>@VU'M)+:/J!S1@X<
M.Q;MD>P4'XKCYYA>3OE#C?D'S-XZ<9Y5B-#DF*_T9\[<3"YPFCR:2QX[1\1<
M9Y)CQ1;,NK;G,Y-4>VI]OK'24]IU'N=W@A-&QX]@_@AG?V_51KH_NS\DP++$
M:^HP[BOD>7S+EV:\O8I7S<1BP#+\;:/(8&,1*:AMJF-.@,98B556+B56"`7U
MK0/D4KIT$T1`<6T!%<E=L!<T$5K0*#'DGRUF/E9YLU:.14XK+\?>-/%;RLS*
MHQ;**^/7.6.0<1YAE-5C]EDM/7S'XL'.,1L(["JIX(6AA+:7E$`:Y326TT,D
M=6@Z#Q`X*9;,EC>7AKLCP*<CQW^]=D=_*XNXQ1Q9A%EG5)CF#TG.&46F:QL5
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M`MJ"%?%UBPA*"9`0#ONXD@#5+ZS?;?Q5.7:/Q4[^EDG$BB5M?90IJEBODIE)
M;5M*D)=62MT]>UUI8!4XD?SOT:N-FWB_FE<W<'5:`--3Q^97)]FZV%<ZK=%"
M1V+0G8IW4%)'4*_'<>AVU[JUO6.;32N)-"KS4;N(?!"7#U[]OGWW]>[;???4
M>:RB?,Z<`5<:I4<%?ZCU!_3T_LZT>"&&/@5E6G3LD=IZDC;8]>FY.VW7TUI?
M3.M[,TPP0`G)(C*K*8T(-/6CW+*Y>2R03N6:])[I#X`ZI4=NT'XC7R6]DEW"
M1VDUHZE/JK*TA:^(N?0$'BKXJ(557D08T>*H."6W].E$9ME;H[79TH#M]V45
M`]I/7IKV7M;VO%*.I<8`\^:BSS.C<0#DHA>7U_EN14V#^//'-RY&S+G^XA8Y
M:/L?3/V=-Q`I+S_).;IB*V<@MPZF-^6H?3L529X4D]R=7=_#_3WZ81D:88Y=
MRX8GO4F^(^.L=XIP^CXWPN*U"P?#JJ'"QJ-W)<6B&7K`.M*V"2^[]:5O+EJ'
MNO%SM5N`#J=!(Z2$.=6JQ1.KL-R=NIVW/Q.WIO\`RZZ(JMNH_P!'PZ:+I(TB
MWUTX%-]GV95>$UJYUG=,U\AUI\5%87(S4JVE(:6KV6OJTN+D+41\J&QW'T2-
M]=8V$O`(-25XB^W%\4FFIU$X#O3#0[3&.1EH<RFXO&)LYJ9!BIK7;JNQB0"(
MSHL\?0Y!0R^[6#=IZ2Z`XB6.U/3KJS-NT9T^B@>LF-30_(JF+?U6!#-)-C?Y
M^XS^82*%F,]"FVT7&PR$LL6U>I]F/&#2V74K6K=0!&_KUU(AT0@UR<CGOGMY
M"2`YG`]O8D-Q;PM.G99>Y`N]O)5+>1_8E95^=K==OXT=:F72]`:6EB"W,=:4
M5]NZCOON1MJ6Z_B`P`)59[<L+B]ORR75TZYD'\5,6IQNGIVH\:MAL0&DH45-
M0QW-K6ZRW'>6M[M"WUR&&4)6I74A('P&JBYN22:FN*^G#9;>$U93Z)5*:;2T
M$);0`TDI:':#V)4M*U)3ON0"H`_PC5#)._77$(]XLV=0"I%/O6+[/N%#>VR>
M]2BG8!)[SW*W_P!DH`G6G7EYGZJS9/$^WZY`U_;@LEILMJ=W.Y4O??\`$!(`
M_P!+4F)[GMJY5T5R;D%Y%*.HKVNBZHT1&B(T1&B(T1&B(T1&B(T16G_[DO\`
M@_U1HBY!>87_`*2[[9@^!N^6@K]*1C5RKK^@*2#_``C1%)SQ22C^L_\`<`"@
MGKS3@B=E;>@X8PI"1U_!(`&B*;=H%*ARRVEYQ0ARNU,<H2^I?L.%"6E.?(%E
M6WKTT1<3N!_(_P`/N*>$:[$>8HC<?+EW'(4B]8K>(LNR!3SDW,K0%^3=8SBD
M]M4II'REUIY12%$ZPZS9>-+'\,0M'MU4[T]U/Y0_;LQ]F`SAGE#QAQ.ULF38
MXZWR)!KY+S<I!4MC)*&^>%A&G*)^0/--.-#N!3KQ6[[>^`D0@D*^VZZ;;T<X
M-+FY=ZAIRI?T]6WG/D/QYY9<29'A-K=MT&'Y7C.3Y+EV?3;.PKFJ>3QW15F(
MS)*[C(HZVT2ZQB)%4\PI2_="63WGPO\`XY[FGNS>6]1`XX8\,N:]'+N\;X.D
MS`FOUS4L,<Y]RXPL1IH1\M;N8JCJE6$='!LBMD6E@W&ER_SK]X+-F,AAR:TV
M0$/.)*"?FVUZR"R]QVEN73U,+1XL>'S7DK@:YM7:LFZ\F_*^D18?E/#7(4?%
MV(RS$L,GXWG7&11^\=JG_I,7NW7IDA:U`]K:`5=>HU&]7<?X<%B@/!8!^XPO
M`<?HFN9..,Y@Y=:17V5W,KC7,L7I+%#+@9%NWC:\<R2ZCUS"EI+B)$IES]DH
M[;'?5A97=P6NPQJL:<4Z?"_E:[R)6JM7N1^*>5Z&MN9;<G,^+,BIRU7R`@O1
M,.L\0L)#-R[>Q(8*I9=(4@MDI2G;;4WU5QVK.D+?U?W!O'._R.1B>#Y)E/+M
MA5..-3SQ3@N:9_5NV0"C,KW,G@P1C<>97.!0>BF:7FE(*".X:]2RY&@5)K0*
M`:5*4Z?+^U=6#3^*WDO;5[G:85D<9B5C4SN0XIM;5;97J;"&VL-DE3J$)`'7
M;6WJVL&HK>(>/#DM9#\VJ=3S:<BX)\C*&>EQU2*K]P9.1>XA@J2Z":6RDH9&
MVYW/=W!/0>FJNZW-G8IE.2UE+]QKP]?7:P)W+KN&2:20N/;7'+&%9EQY6,25
MK*OR=FWS.HIZQVSCK46TLMJ=6KMW3N.NL6LL%Q")'$5J5$FQ>GTQOR7X(SW$
M9&;8/S?QMD6(5BY8M<GJ<WQ^75LB!_A<&PDMN%$)UG\%@;_#?4@BW&((JN2:
M-CSOX;OW%O\`'=%S-RW1PWUQTY;QMQQDF38F)R%I:7"C7(:KJRQ:;*_[HR'6
MC\%'5I;"ML3QHB;+D'S`YUR,X[C'"WAYR5+O,D?#TQ[D;*,9XOB8WB\A;\-5
M^A,U=C-393EI#C#):2L;$DI.VO!;C)*RXI$,2:+:M%8POP4@<C1L6S;S0O,G
MYDY*I6UW\S!$9K=?T(8[<39KLX5E%B(EF!<IAQ7&XZWIGNM.+0>U`3L=6FW[
M'ZT`S+!4\*GBCCFIJJNHKL&Q2+5U\CZVLB1ZF((]4[WJ7'#*'8ZE`,-J"=AT
M&VPZ;:M?_'8V>#*BPE<K'*-,AJ:BJK'IS#1:C2WH,%,M$=1V<BKD&(O9M8)V
MZ'IH=E9".J,PBST1VT)6RVVQ%BM)]F)'9;:;2RRT!MVN-AM/[92B>T)^&N?I
M*<$HM?+>C08BY+@3[+"%AU^2%?2PR`5_4N`C<E"4G8C?7:&S-=0&%4=<"-O3
M)I5-XPQ'SBV:L@J7,QNM+(@,/NF+56,IUM)>EOQ7&.Z>T)'=L'!T3T'35Q#<
M"W;I)H55SP=<Z@,*K=9/9FB@,KAU_P#?S\B+6PH<!#3B4MVCSL**R(B6-EQV
M)+:GBCT"1UUY3<;ML'@RJ5*ML'"BY<<G8*/.OEBLXAB85DD3Q^\?.4,E>YKY
M6D7W[OY):\M4F-QX3>#\=3X23EJ:6N=NTIDVD1<-*D^[&+?J3WV.'T]P;[^1
MS"WYJVF_:^*>RK^W[309;Q9Y"RB-`B5<JMKHU=78I17B4RZM4-<:9F<'&F,E
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M.[U]23ZGJ3HB`U';^<-!!3U[NG3?I\.O7?6DH+F$(M3>Y#4X]5S;FVL&*RLJ
M6OS"RL'T_P"!PV-RMU"7$%"U+40@`^O=L-SL-5SK@6YHXT1,AB4U_.LUK\^=
MQV?68W4T"ZK$A8QV6K"U-LZE<F\,!Y:$0X\41VU;$)<5O\H.H$DGKIA*,@*+
MLR81MTD\5!CRD^VS=<XY5S/9<9<\9KPE2>09QJWYMP3#WBJ@Y*O<;A?E<)^^
M<?K7WX=1?5#"6I\:*XT[."%(6L)(&KBVMG8'N6QN6!I%>"Y>Y=]MS`^0_//B
M'B?#LUY!_*^/^/,LL>?;W#RJAPNC^IS#'<TI,!A6:V)3;D-[):>,A%&%/S&J
ME:N]Q20>VWN:F)45H!4#M3IX5]JWF_*?(;G5O()N1\)>-UKP?R3P_P`6NM97
MBF6Y:T]R?E!RK)+^GAU=.7*&*JS6\W%BS7'WV83H0ITG<"A'[C>]6X\GQ4Q6
M/M)<:2[%5_G'(^1VMS90N(:B]CTD&'2U,W#^*):D5E#&1$JV34&-!DJ;$B/V
MR`VVA*%@;C5].YWI`"#1:IG<C^RABV8(Q^;D7D#FLC*N-\8MN*>#<@@U5(ES
MC#@?-8=M2YEQP]#DT$QC*D75+8H81/GI<L&7F^Y$AM.VU+MUN>LZ7@5EU=([
MD^'(OA,W31^((7$O*%YQ=R1XI8A7T7&W(]9#BVN3QL#OJV1C>:U.05DU%G$L
MQ:E<0I;="FXC[(D(!VWU"WZ\$())P`52<+IE/\25%W]N.!=\JXASRYRKGV0<
MFX5<85=HN):L=5)SA_$,-RC$(E/DBUTZ:WMO:"_*;)WVW&5K4D[$IV$[9KX3
MVU,S16QP*7?VS_&WD[Q8\?LFPSDP0(>2YES?S%RC68U#N$6]7QWAV=YK:6&.
M80Q80]V+"/35"62AQ(2.YTH"$]NVM96:7GM*PMMRWSQXAX7SW)_>3`IN;\Z4
M>+T?'.59+B/%]QG]IA6#\@REO4]!F5W65$TTF(Y3(*E.,O>Z&T_M'`TCYM:`
MT1,3-D_:XR._P+Q^?3XY)S?AQ*9G$N`3;7':6?B]W89%/F5K>/F+/(:1/O`\
MHUJ)#Z'5MEU;""-M3[L&6'3F:#[E.V&_8ZZT/=0!V/S7&D^-OEOY%<T3Z:^X
MRXAR>J>NLH7@G.5=@5"]Q/2\:6V;V,G,ZF9;TP9&;6N4>P"XA:5M?52`V]VJ
M"DCY_NVU/$?4I@'#[U]KFDV\;1J#@9"1]LN2[:\&?;R\'$X<[B=GXI\*)S:/
M6/<><@V,3%JUR5+BT\WZ]Y@6KL1BX5V*5'1%EH?:DJ:8`#B>T;^AV>Z'0%L3
MXJ47Q?<[:&YO"0017`)>\-?;/\;>&>3\EYIQK"H]OE&04%YB$2FO'?JL4J<8
MR*1'DY#2PZF0'8\!FX=KVC(=*'UO;([OG2I9OHXC$W0>=5ET#;9HB:,,_FH_
M\Z>/7/W&F0\@7GC#S!FE'Q[B?&3.9TOCSC5>FPR*=R%29;56$VJQ2UM(,E<#
M!IV+Q9,9NFARHXF37^];K*1MKLW/XJCD-):\B/O4JZ'SBX\C1ZO(>2\4YAX2
MQ"4S%1>Y]RSA\O"L0QK)G(4>.SC=I(E29AKV[!0)4^O:,VL)2M:2H;Q=R:9V
M4;56?JHS@4]6#\W\+\XULZ]\?N6,`Y#F0I4J"](X^RBJOF/?K]W);<B/`<D/
MN!!1\RP@H']MKRC-I>)2^B[1W+7`@'%.]0W+UNTMU<WMLHA+%U7+6!]+,;2D
MA+&Z&DNM/,*2M);[TJ[NAUZ:RW!EBW1)D%"N++K95Q2S:D(+/N$GY!LM/:HJ
M2?4?(`5'<?@-6\EQ;R0BX:1XA5<VQF)O3.;569*U[M[[DI].GQ_A.J+^H2]<
M14\!*RX"A"UTISVF75=S3?MMNNJ>>*DH80RTMU:^Y.Y[E)04#_9:A;SNK9(#
M!7%2[8T./-(#`83[S+V2S7"_.NY+DN&%J=<<AU:5+;B16RI/[$=NY[3L?Q&O
M/>U]K8Z1\TA\74P^077</W&_Z58YGY+K>)>+.0.3+**X8F#8U-R+Z)U+*';6
M<VQ*C4]:''&Y!)E7"T)0KL"0MP`G7OMPNWVD5&8T%%`49?"3B?/,;Q5GE[G2
M0WDG/O,E0]DF6WUE!>;GXKC-Q9MV>&\81(O<_&KF,5I7?:G_`$WL(?LQ[JDJ
MZ[;`U`/$A%/-+3*%=R&NQ778[@^OKZ?B-917-$5:4$]1MU&W4I'^F0=&>;XJ
M3).UMGT^PIA.:^/;'DJNH8%9-JHLRHR2LLA)GQ6W9T)4"0XI::Q1V4AQZ.>I
MW^8'UU>6[@VNK#BOG5_:&2Z9(W$!P^];S*\(;NL.M,)@/S*2#.K6Z]F4S],T
M8*GUH7-_O=;*GW$RWP5+]MQ*@"3N/75)?8W`/;^*]%%_QG)KZ>E9C<D_N756
MEU)AP*B),LZNW>%K3IJ760U&CQ$25!!%VII2BRLN>T!NI>YVU;.ITFE>1;8F
MYW&H%=)^]22JJB)`@M1(\2-"::*DI8BM!EE"=]TI#*/V;1;1LG9'R_+TUQXK
MZ,V-UO:MKR6X2D(2$CT`V'\&H#_,>]9::M![%5K591HB-$1HB-$1HB-$1HB-
M$1HB-$1HB-$5MT%3:P.I(_U=$7('S!0IS[EWVT0@;E%ES"M74#9/[KW/7J1O
M_%HBDMXM]Q\HO/PI#92>:^.UDJ'S]J>&\'*BGITV"3HBG%.0%P9R#L0J%+3L
MH!0ZQW-MTJ!!V/Z-$40O`IMQ7C-B+JGRI3>2<A,=RFRI:N[+[?\`6[GBTI/;
MNG8HVV]-<Y!(0.F0#59%.*>^;P1PG.ES[&3PWQ/)L;5[ZBTL97'N*/6$^0.X
M?439JZI4B8\0L_,XHD;]-28C"!_N&ZRM'!Q/A2<K?&3@BES*!G]+P]QE4YA6
MQW(D'(:[$*>!/@L*V4GZ(08,9#,HN`_MPH.I3L-R!VZX37\T;S';!K8AEV?5
M=&/>UM"4]ICR%M.AR0H+>`[DH]M2$*0IL-%"E1TK/:UWA6_ZQ5Z:AFXO;@]*
M0MZ3L",<BNPG'$%4.PU]J2R\$N)[`@N,1UH[@XA1)`9!&Z4D;CJ-:?TV#DL]
M=O(JT]!"I3WNOK=#[2VT-R7`Z4(<?6\M32Q']W="%E`22I':LC4F&SMH@06U
MQ[%J)N84,;'PKX'RO.,EN<WX8XPR6#*L3<4DY./1*]^I2\ZEV;5?2UB8T66X
MY)`6MX]DAS<]SG7;78P6O!GW+)GY`IU[K@W%FH<=&`R'.+'*5+R*I&"PF:BL
M+P^1J3:0&GE,63<9L`M-E"2V0!WGUUYJ2ZD;(YH8Z@)7`_5:&/AW.5C7_N=D
MV?8^]A;,6*AS)JY%RUR%D:=W4R6I[K[SE;#9(<"MF@3L".F^C.M?'H-\!.-3
ME@MHWACJD8)>HX8XV7!96S2M1;)B,AE645[\FOMF'6T>TF8+%#I<;<4D)"B`
M.Y:M<9O;UY*#^LRO<Y=NN.29C+_%]^W:C5U;R1:S*]5]'O["#F]#6Y]"C+@M
M;QRQ%N2([K\!Y7]T2>[=[KZ:II]JW.SDZ#)6EM*X!W%<GN#W:ADFK3X3\?8U
M81<XR#BGASF/(434N]\W%8V,V=?&@K6MUJBCQQ*K)LE)ZJ96E'NJ_5.PUI';
M;JV1KGR`L!!.>5<5I1,_YM>?3GB93X7CF)X;2\:7^75^46E,_P`NTTBHXHQW
M'\7<IF3$^EQAN<XG(,B>N$B*A'_O-15TU[RUOV.B,0:X$KK'$930$!/Q]O[F
MFZ\FN.<QYJRK&F*/*9.:66%3(,$2_P`GG0<=7"CUMC4QK6+'LH$*2AUQTL+/
MN)0I"B/G&LV^W1PS.GN*/:[(#,?-;SVSK<`D@UY+H1N-PV\PEL1PH/>T`&OI
MPKM!'<K<;JW]>NK!KVQG]$4"C*ZI26>Y*B-D>T`I)"FP9!`C-K6-PVIW<`;[
M[:A2W,QD.(S18Z9S)6MM7>%-%27>U)<2AQ(`"!VCN=#KGR(4@*"E#2.>0N`>
M<%D"IHKB7TN!K9I*T/A2O=4HAAI`2HH472E`#_>@I+?ZR#^L-3F1A^1P740F
MN838\E&X&*3EU4]-8N0UV64TQVI\B%4!:#)9C-$EMM<I1"`L@]I(/IJ2X,MA
MTW5<3C@JG<(W,N&M!&+?Q3@TD=$:HK(P[7F(U;':80XL.J]P-)"527$I2%.I
MW^<)Z)/0>FJJ>)\KB6$`'[<%/M:!H#L2DWD%0N<8$Y!>$NGGQ[8(97V&:8_U
MHE0220E+4AF1V-DD=BNIUYGW/M-PQ[96O;IPYK>.T<QVJHHN:N2YS#\`\SY)
MYDRVVB67BKS9R!69!FC?98N9SQ5RYG"E5$I=-51PJ/;8;E\Z"PN0H$OLS%J7
MMV:M+&[BDVUEHP$3`@DFE/S4J8_IT[5U/J9*IL1B4MQ"C(BQ)#2$ESO$.2T9
M$%;J7!T<<C+23MZ'<'J-7UBW_'BH:VFMKFG5-.Q$:X(C1$:(C1$:(J'%%+;B
M@@.E*%J]OM*^X)220$)^92@D;@#XZ5#<3DMFMU&@47?(/&4<F4N/\/%2GJGD
M?)F(U[,+ZR^O&L>=9N+%N(Y%6AQER6MA+:.[HVI)"_77C]TG,TIAC!!YKIT'
M<2I$0JZ-%@Q('<%M5;"8#*X[2A_XO0F,`-B0$]K:1M^C5IL>WR0V^F5P+B\G
M[54:XMW$AP(H0HJ>4_DC&X<Q7]WL:DU5AS-R,VYBG$&%M34?O#D.56+K5.J>
MY7%:)*JG%TV+4MYQM"Q';"E+(U["WMP0:X`*OE<8_#@3DL7Q?\;X?!F,8U&E
MR'[6]CULBOL9LY3K]E.GWE@[>Y;<7,QYQ2Y<ZQR68\XSN5^S$"(Z5);&VH4T
MHD:6@$+O!;.B/B(*F/\`1,M+264-)64[[^T$_+N-QOW*^.VJX6[M0=48%3:X
M4[5D.`N!M)2UVA0#NZ?F4WT[DH('Q_3TU8R2A\/3%:T^"PDQD5Q7XO66EM.6
MB!6P(3KTZ:6E*?2V[W(A_3(`)DK3(V1VHZ[D:TV^1A)M0#U&\>!69STXA(<J
M)F,(QZ8SB-U/M$.N660R;FZLG9Z5?7M,3&T/54-R0K^^`PEM"5%HGM"CMKYI
M[ZN7P2NMP"XNPJ,@HMK9OO)&R,<&@&N-4[>&!'[OTK#*I*$LP%H0ZXI*G3LY
MONXKXJ*MQO\`VIU=>S(I76HU.&7:K66S?'F04JY#;)0\RACH\E2D!O8.*2RI
MMQ*5$_+O[FYZ?`Z]7<P$OI50SA@N9%CQ+Y2\'^1G.?)G!.+\5Y_@7D_=\;9#
ME]CR#E$_'9_$=QAU"WC=\IR*U7V#F1P+>`PV[`CQ"U[+X47"-]]1O3NYA%S,
MY'^V3S'A_'G/R(M3B/(-_P`A<"6V-X#986OW^6*?F"-RQEW(.#Y+1MW2(LJ>
MB.SD3"'I:Y*%18S"FT^XG8&6SPX.Q5.+"[CE,D,C02:\>:[E^,'%,KA+QXX;
MXKG(A-V6"<?8_3Y)`C)AMNOY(Y31)F4V7=&CM-,6,B[F2B\AK]DX^M*SU&L7
M5LV^@-NPZ79U.6"L89-U8[]29I93_-\./!7*FQGXCSM.HI<"0K'^484:WK<A
M*PM#V454((FT2FRA*V9+K`2YWDA"O0G?7SFVNC8[MZ=[7.\7#)1F6]\)^JZ1
MI'+%252M!0ILE"7@H^\D*`2EW;9;8/0%:#T(&_4:]Y<;G$9VQACJZ!R7I80Z
MXC!<0",$ALW9^@C5N5M/(9ET"BG=\.*0_%E+"78KZD>T^AH[]$`E/75A;QFX
M;J::=Z\SNLXL)=+P75/#O[5M)M319+3"IO*2GNZ:<P\TY47E;"MH"8TE27%$
M1YL=Y*RTM`+;9^5)`/=N-9?&86ZGD%2[*U?>LU,+6BG&JA[Y"^(]/;5]/GG`
M,'"N(>;<+M:&RILII:=G&8>5TM5*WFX'DXITI<52Y"AQ(?6DJ/>V@D;`ZCBX
MCD_3#34\</M1=FQ.MY"UY![DM.+N59_-..R%HCO<:\P8!;.X]R#ARQ$D2ZB_
MJ'$0YT.)&E.I?LL5LBCZBI?0A1?AN)/?W=!Y+W)9W%O'UHW@CEC7L5M;7\$0
M(E8YP/`$)\W,SF5:&1<5<V.H_L5VU;"D/Q#+0I25)6VIM$@.+(W([?E)(^&O
M,66]/A#1<OP'#%19F=:5TC,&$U`/#O2AAW]4[(96JW@@N)'>T7P74/*_5C*1
MT!><W]/37J&^Z=A].8G$BX(P<<A]*KBZ!P;F%H\QL(LZN;JF)"TFYEHADH4V
MV^(S+HD.OA)="DL[,_,?3MW'QU\_W'>]M-X*7+--<L?R5G:[?)H,FH4`KQ6P
M9DU<);41#C8:=0AQIM,IMDJ5^S9C&,`YLMJ:K?L`ZI[#OJXMO<5K%=1,MG:V
M%N-.?T4:Y'6>",-."A=SQD*?(?E'#?&G#555GCV)Y/1<C>0-D)JW6J?'L8E"
MSQ_"$/H6IAV\RZ[@,ID0W4^R*U*G0KW%`:^C'=K*:$.E8XD@<1R4;HNIB5/V
M*2OW'$M@H4\/8?<?64F,1_[V.S;KSBSW;`;$G4XN:&@@X$*.2>2V.VLP'KO+
M&X852JMK6$;="=]_[&W_`&=;RMZ6:RL=4E7>0DCM2W[BT)6"ZD)&^X:Z%?=\
M-CKC%)J?@.*@WCNDTO)\*8Q>89_F-Y-8PS'XU/054N766>1Y&J0\]8S(TE4=
M#E-#J_K%M_3A&Y3("-QT.PUZ"$M9&7.(/8JV.'U8+VD"G-9D?([G&)$K&;F6
MW;3T0)ES6V;D553'DNI;<+\9X,^^EC=L*V*CV[[:J[F!T\O4:0`%%DOX[9IM
MW-)<>*P\):M\RL(.>ST5T!JQK!]&_4NR3]?3&2Y])$<8DM-.L3*ET*:=4KY7
M"04?+J3).UK&L(-0INS6ICE?=2$.#J4'*B?B.`EM*`MQ81ND*<(*C_"1_#KA
MZAO(KT=W(VXBZ;!I*O:C.-22HT;=#`T\`C6%NC1$:(C1$:(C1$:(C1$>O0=3
M\!^.B+U*'"I(4VI"20"LE)"`?51V.^PT16PI:N\I:66TK4A+FZ>USM_G)&^X
M&B*ZE.XW40@_VIZG^'IHB\/0GX]?7\=$5)]#_`?]+1%R!\NUAO[E_P!M<D$]
MT_EQOI^+N.6S0/\``"O?^#1%)3Q6^;R;\_E>GM\QX"HC\=^$\)=Z?Q+VT13D
ME?X)+_W)*_VAS1%$3P)_Y,.+?\+.0/\`.ZWT13"T1'\O]C6XM&R#6<RB/Y?[
M&GHV1C6,PB\(WV_0=]:(J5M%:O>'8"@=JEC;WFVU?K%G<]O7X[@Z(F@SK)VN
M+Z>'D-C6H<I'LLKX,J1%DE+L5J_F1*Z#9RDN*<"V#82>QQ"0"201MU&B)WFV
MXX;0-RE6Z7/UDJ(7N%#J$A*MC_+K-+3B!J6*%5.)#R%(=4IPJ<]Q:E'YE;_S
M"-NWL_@`UDB`8Q@:EE4I0TVMM#+<=DK2XAL*;+O:I"?J5*2QW)#GR1COUZ=-
MM:HOE>\>_,;)9WBGYMMY_EF7<C\IX5Y[7M938-/O\GBYM%XG;Y;Q9B++KJ^`
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M1PI'M"2XYLA*>AU`D\[D4*,!SNIPKQAN.1<&\@.2.<.5>2FN-,BYZX(RRRRE
M']&?*&8Y%43LJNJJSAH<R'!8%+=R$1WZ)MY,.+'V[D[DJ.(_,%@OT#7Q"7_&
MWW#/-O!8G"F-Y[6<>\R6'D'Y,YUX^X[.C8U>8SE.'9G1<IS&[.#FU>P\_P#3
MP8G&5>Y,BRV@IA]82M9V(0;NV&-3DN8NW`T"[QV..7V9>U'R>Q:AU/U4EY6/
M8\XITW%>XI*8,F7.]M#GL`-]X;"4?,.N^M[X@O:`<A10+F4RW#7.X!/#'2AN
M.PVV06VFT-)V;]L@-`-@*3_;CMV4?B>NH(S5E;\%=4``H[).P)^9*2/X"E6Z
M5#\0>AURO8QN$6H8D*RK@N*/WI&8\/Q,N>Z08-9*Y1X$:7W2W&8HL(G(O<D]
MGS(!6WT*`!W[_#7C([@P7KH,J-7*;R#O78G'Y*#34?LM]B#25O8E7I[:F/=3
M[045/>R"X0@K4H]HUZ>TN\!R41*5)W`.K(N+_$47NL(C1$:(C1$:(J5)"@`H
M]H"VU!044E*D.)6A0((ZI6D$#T)Z'<=-0[^3HVKI.5%TC\ZC;6^_9>1>5&P?
M+D;%N*,4_=I,?9MR`]E-M;/WDMUE(^G^MFN5C9[P@$#<>AUXZT=ZJ\%:YJ:`
MMSR[S1QSP;B%OFW(N31L7HX;<EU#UBMQINQM9:'164\):%)"K"VL$!IM':HJ
M*M>RF(M)61Y58"HT^848N$^)N1.3\[?\D^:(59AN39'4U-=@'':V56-YQ%C3
M`5,MZHW2)KZ%9%D;$A3-E)8:82\"$)2GM&K*"YU1T.5**BN:AP/:%T44VE:E
MJZ_,M*QZ;I"!LE`W&_;M^/77!6HR5P]2#^">T?P';^STT1&B)#9_4QKS$,KK
M7U`&33RV6P7DE"7$MQYB'7UE)^@;C+C)6%?I*M(:0RF4\5F]%+4'_*5AXM8I
MR_#(,L/Q4.SXJ(TAYA?O,25QF`PY[+NY[_F2>Q1)WZ$ZJ=SV,;K()",*K.U.
MT0EW)OXI94]8W608T5+G?],T6D]W:5E)5W$JV`&XW^&LV$(VV00#FEU=X+9*
M^8;#Y5)6E:5I_63MOND'T[5?'7H+IM-)YA1+:7JAQ[50ZTV\H%UMIQ"5*6&G
M&TK:[U$$J[5`_-N/74125B+K8RW"[^T0KVRVD-J"1VE7>0X2%*?2ET=R4K*D
MMD#M`'31%>5#C+]S]DE)<6ZZM24I"R\\6E..E9!45+6T">NV^ND1TNJ.11-]
MR3QW09_A]CB]],MH$&;VK=L:24[7W<5QOJB37647M?@R&CU[D;=WH=]>:O-J
M'7]0>=?JB:S"';'C;),2XLMG)5U@S^-3EX5F%W;.2[QRYIYC+LG'KA"V_>?F
M/4SSLYN6M02L,K1L2-<'G5<CD``NUM<NCF,8/!/EE%:N[IIL`^PX+:,F%'#J
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M&3G?(>.R6$76*8R4Q^\.,KL'D(/5*CK%W[)V&2W_`%'@7%/$.VG^E38ZZ!W*
M9U(_B>>X[!RFG526N/W*$V,2WJUQ'*>T@N2O9A2(\Z*7U./RT`_(.Q;:OU@#
MTU\^WG^V]B8GR0R\.S_Z5RN)`R(N.22-'A-#=+NLIEL-246[JJVD3'^K<5`K
M(>ZI#4=DI23(DLLK4M6X"DIV&V^OGUO_`&MCN;RAE-2<#]@I\%X?2CE1,?RC
MR_BF"7S?&O&V.U?)W-3ZDUF-8-1RTO)II3G8Y`R'.+-!GQ<.Q:E4\EV2F8XU
M*<05(CI>>4E`]];_`-NW;3/''`\O:YM:]M:4R"KK:3J:S_F42>(N`_)[Q%PJ
MQR7)9N'>1<R\O%YIR4WQUC\O%>5F[6V=F*>D55U>6KD3*L2P1"U*132D)D_3
MH+Q;"U;#T=[M%S;P"G\JD:A6BG1XZ^4O''D,Y:2..,\QS/XE0PLN6L%YZMNH
MCL"6(%C16.*2N[=VN4I'?91O<AJZI[TN?*-K+<^L=!.(0VN-3D5+V/)#P_[E
MO^"'D+/_`*T#<C7JH/TF]5<Y[?I,U+R2%GL[`/YW=ON=O3;;;4.[N\U$2!RS
M*\?Q94160V\.O?G][-1&?6^M3[G:4K=$=+;C2&FG5#N4H$;:M]LA$MFV>F=?
MO7G=[N"UA:<@D_QCDL*T8O:)+<`7M1-1,N)-*655RUW;\U^#/CS&D(92)$=E
M*EH4%+0XH@G7:28`Z''PU&"B['<:_",02!\UL<GP63<W%A/C6#D`3JE-'.8>
M7WI^C+J529,0@;MS'6TE)5N4[$]-2%VW"T_W(P3EL1VDL-(;9]IEM"&V/;[4
MM!IMM*$H::``0@=N_0=23J-.,EZ""+IQ#M62A`0-AOZ[]?\`0/PU&795:(C1
M$:(C1$:(C1$:(C1$TW-G,.)<"\8Y]R]G\XU.!<98A:9OF-T(DF<NNH:EI9E.
MQZ^&%RISK2RVI24@?(?QZZ(FXG>6_#=>O@E4O*F8$7R38$[A^;+AR6VK^OC8
MT]E]A+GCN!I68^/>U)*W]@A*B%=1HB>E69UB(ZS8Y#CL7W8+UDV/SB)V?D[+
MK<)VY<?<?;:33(F+252]PTE#J!ZG?1%IT<B8:[71;R+R!B#N/2W9<&/>MY/4
MG'77:F.\;%^'8IE*8?5&E([7F@KO0D`[Z(LQSD3#(D6%*LLRQ2J:L80MJY=E
MDE4E-I5!+P<EUSOOH1+;1(0&^Y&Z0K<>NB):QY8D,L/-=JFGVFG6U`A04VZA
M*T*"DGM4%)5ON.AT193JBEM2AMN!\?T]-$7(#S!&WW+OMG__`(RYY80?T!..
MV[H(_3W-C^+1%)WQ20#Y._<!1UV/,^"-GTWV1PKA+(/IZE*/Y=$4WY7^"2_]
MR2O]H<T11$\"?^3#BW_"SD#_`#NM]$4PM$1KH)9`*`FB(_T>FAED(H2:(C7-
M%X0G?<^O:I'_`&J]NX?]MVZ(FOY3P5GDC'#B"[AVJ<%I27L!YI,5;,2?CTQN
MR@2+1AXE<ZI1+92HMC_NH'PT1;EJ3,J7Z]-K.EO1T0&$65FJ#$C4+0;9!?LG
M9'N%424J6GL]GKV[]NVN?2C.)`JB5%>M\M$3%+5(W)2M/;],_'=_:QWV=NN_
MM]/X-9;'&TU:`"BSE)2K;N2"4]W:K;9Q'>DH46W!LXT5(402D@['6Z)/LXCB
ML>R=N6,<I6K5[WB]/171A)=5(6A<AQU?M_M'7EMI*ED%1('76CHV.-7"I184
M3CG"82IZX.'XS&%LN2[9!FD@)3/,P-?5HF($8HD,R2P@K;4"VI20K;NZZ".-
MI#F@`@K!`(H<EERL1Q60B&'\;HWDU:O<K&G:R(XQ7*#*XZ3`CJ:+$,)8<*4A
MM*0D>FQ`VDNN)WBCW$A<VP0L\K0%D/8KC,EAUM_'Z=UN4S*CR6U5\;LD,SG"
M_+;=2&P%_4/_`#J)Z]YWWWUPH*UXKJL%>)8DQ!;JF<;H(L(-A*4,5\9MU$>+
M)58HCP4,,J?84Q-67VU)':ESX?#644;^&/%KAGQLN>3LFPR+<NW'*MO+S3D3
M+LLMG+Z^L7F4H=@PR\["AQHE57I2E+*5)*FNWY3ZZT,3":D8J,)V]4L)R*7T
M':>J59XQB6.5C%U(39,3KK'8!5?K>4W[<H0(+:66Y:'64J#[JTJ44@D[[:WC
MBBUC``*9-TS:NT`=2F!3=97XH<;YKR5@7,_)$5B_RSB'(W\XP:NB3[&HPRNS
M.=$36/97(Q:/]0Q,OV:]2FP_O\P_6!W)U.:YC1X12JHNE+_B*EPRVVMIM?8=
MNT!M1'L][?:GM=;820J,TZ!\J=AN$[[:CS$%PIR4VWA!;JE`<ZN!5Y"$MI"$
M#M2-R!U/4DD]22>I.N*FCP^7!5.**4+4$A9"5'L/HL@$A)_0KTUFQ.FU>'^;
M%;=1_-0.\[N%[3GGA3/>+ZBMJK.SO*29(QYBW3W18F:4EE56=)/CA22V;-EX
MK1']PAKO<ZD:^'[UN%UM.^&ZE>XVSJMIPJ?DLESS@XU"7OBES-1<L\7U$*+,
M<AY]QM75>"<LXK=(?9O<6SJHIH#5A7SXTA*'6GI+Z5O@IW86'/D)&^OI.S74
M6X6H?$`'$#[<5HI8,$J9:4=R2@$D[=?Q/\&O5VK&-A#9:%^*8*[U_P!&VN[A
M#I-`*T3!&H?4;V(@=?3K_!IJ#LJ(C?U_1MO^C?TW_#?1$*/:"2.@!]>GH"=N
MG7X?PZE/,+8ZT&JBPH6\[^7N/<%9Y@/&4G!N4.1<LSV%=7_T?'=`Q?/XQ@6(
M3:&-D^>W<5Z>A;U352+UKN3%#DU0]&]MSJAO'MEC,+L6&F"V!(-0HY?UM:*?
MD.1YCP!^[G+/,/+V5XKQ)QMQ_-RINB9IDXS03<IGIY<3]%866!S*EJPE*EHE
M,!YU#;+;8"E=VM+*RM(W]1C&A_/%;]1_,I9YEXI\M^2#W'A\J>6*B'B^+9UC
M')C7#W$=-(KJJ)DV&HC66.1+;+\DD2K:X57VO>Y-:>0$SP>U"4IV`MIF,F<)
M)!5X%*]@6A<YV9JND3<:'LEQIIM16W'W?]M3;SGL)2&RM2MGP6R-@%*)`&Q)
MVT:T-%&X+DZ*-YJX`E97KU_'65T1HB-$2$Y'EKK\(RF9&C)D36Z>P9C,]GN)
ME.S6&8B(CZT]HCMO%SMW5N=E;@C4EL;7@:A4*OW*:1L%`X@46EXIQIK&,1JJ
M1%?&J4PFFI$O'X4V5;HK+*:A+CL9%E,2V$1T(7[GMI[NTG8'IKL7.C:>GA@M
M=KFF,1:7&B=)+:$J[DIV5UZ[GX^O3?;KJM?&R1_4>`7\U/<QC_,*JO79TCWT
MU&M$9%''70*51K1;HT1&F2*AQCZA)01ND@A0)(W2H;$=!Z$:.`>*.Q")`YOQ
M_C694AQ^^;F1V$NL2(DZLGR:RQK/9=2X[,@3&@5J<9"0%HW^9"B#N#MJIO((
MHQK:T`\^2YPVLLMWK83D,%\4WD;]W7RRXY\V_-7@+)/N289XP8+PO(E,<#8]
ME_`M-GDWD>R$=PPJ1=Y'0JR[5*;2DK=2EU2E:L-KO(_3O+S5X8:'D:<%VW:S
MN](U..DYY9<LET2\:/O$<D8)X?\`B!SUY<<`\IYKY$^5&=Y1P[B./\48[24E
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MYYJ3Q)XDK82/`H"N55]]TSD+Q?Q'FJK\6_''D;F/QY\;Z;'['GF=E+];B%/Q
M+8<CX=79D[DG'>1T*,EF76.W!O6W9%=,8<>KGDGZ%U4?=0AR[:Z3:9;<$^L<
MWPGB#4(#K.F3%ASJI2\M?=K\D.%+_A+AO`O';B/GWF+FS`(O+7'/$'#G)F86
M.7_T//5$R]L\VM9>0XEC.,L+JZR(Z\EAZ:U]1[:F@=U@C.U^WC9PB>X:'2`9
M\?P4H.C:W0V@8E+QYY;\#^%/C!QMY*95A7*62\P><7)KLV1B]IC]=A/*W)?,
M-S)D/2ZWZ++KV/C&%8OA$5IR*N4_.5&3!C)6SLI7<9\4TT\E*X-P^"B-@>Z\
M#+<Z82VI`XFN?R3M8-]P/%ON"^(7/UUX>T5]*Y6P5-IPSDW&F4/UT"UP_,IS
M4FJ65659*GU-@S5Q9$F>+6&X4RT05MM+V(U1>XG;HQA$#W>(?;@O8^PKC8)/
M<0M?<4;9K5KL6NR)PP.(P.6"YU^"&:<^<4XQQKR5SCCD?&,:\4>1XW"^5WED
MS<8YR!9</9I.&+FZMZJRK6*6?QW,RQ<6>WVN&<IQ32]@@E1\OM>WW$<FMU<\
M5ZCWI+[=M0X;7#'"23337#YDY+ZNZXMK6E;:%H;4PI;;I$8-2%-K;02S[2E.
M=CK+Z'/PU[LA[;<!W-?)WW,LU0YQ+%M5N);220#N.G\7_P`G41T;'^8`KFHT
M<\R55K5)DK%3-NI49%I!<@1X\*7'D4:(OU=PW.^N<97`8+9_NK'<[MZ;:]?L
MO0%F(=(HO!^XFW1NW%I/1PP^"<WC;%:3'Z"N9HJN)5QI%9`4ZU&4ZX'4%@NM
MI=??4IZ3V>^KM4O=775!O#9([U@A):W6,N]77MN"$1%SFC6!4=Z<HH0H=I2"
MD`C8[GH1L1N3OZ:E=63F5Z!\<<CM<@!<O$MH004IV(0&QMOL$).X2!OL-B=:
MN<YWF-5TJ2`W@%7K581HB-$1HB-$1HB-$1HB-$4*_N(<;9CRIX2>57'G'%,]
MD7(/(7!/(&&X?1QI33,JSOKVK##$5CZAQEE*@W#[Q\QZ_IT1<+,U^U7SYBV)
M^++N"Y_SOR?E<SQNY/XZY$Q;E',ZQ_$N),GRGQ_ML<QU-$IBGJY-2PYF#_Y8
M7&U/.(C,)ZKVW)$S\;A+S<Y6XQ<I;KP&YC@L<8_;O=\7;'#L\Y$I\7LN8,\<
MY4P:VM6L&M\6RU3\J*Y04#CT*2J76R%@]K[K84=$31^-7VC>?\OI.(N%.?>$
M.4,+\7?ZUG*7),[`CR)94=UAG&V4\#P6:NEGW6/Y+D=Q$C66=MR69<5%A82"
MZI"PI*5JV(N67GIPX]XT\7W'%7E59YI_3'AE*C&_"C&:;FN50Y3QAQDUS!<[
M4^9XHTM%EGMSE-<^Q(C/(_-PMI1"U1#TT1?HE>/K,EC@SA://:D,S&.)^/FI
M3,QOVY;4A&*50=;DM_4S2B0AS<+!>=(5O\Q]=$3PO_W)?\'^J-$7(/S!_P#2
M6?;1/Q3;<LJ'Z#^0V2=__6K(_CT122\5G%CR=^X`0HC_`.+)Q\K_`+97".$+
M4?XU'?1%.>7UAS-B-OHY9W)`'^#N>I)`&B*'G@(E2?&'#04D%W*N1$M`@@N*
M.8W!`;'\\D).VV^^VB*96XW"20%$J3V$@+!0"I04@D*3L!\0-$5205@*1\X4
M-P4$*&W;W[GMW[1V]>NVB))W=C"@LRIMC=P:NN0T_P"]9R):(T6*AEM*W5KE
M+5[3:F&W4J]=^OH3HB1N%\K89GN.7.0\>7'[VP*>^<Q68[$C!L1[R"XA$YI#
MBDEJ=[25=Q<'R[>A)Z:(MQEG(%)A4!,_(HTQ<-^VA541^-&9=4X_,"1&=0&P
MDE#;A4#TW_DT1+9"8LASWW&V0L1VG%S6(96KVE("D%Q0^0N)!^8`GKHB:_FQ
MUX<4Y[&KVT2ICN*V\V$PZA81(4W&4EQ]IOH52([*_<(_FJ]=$2^Q)YB7C&/3
M$.M/^_25I;EL-)"9@5'"PMQ:2>TE![OTZ(E#HB-$1HB]`WZ#1%25`'8D`]>F
M_4[#<[#U40!Z#KK4N:W,TJG`G@%BK6ATH+:@L]`.W?N!42!NG8*3OM\=M=6Q
M2/&IH)"A'<;%KM!E8'<DVTV>]EOYK644ALU;4I59>V/S'W&TI2'8<0D;J6E9
M*3TVW!UJYKF'2[!P54]TKKATD>,9.!'$)QV8D=++9CMI2B,VB+6_WNAL18X2
M$N)<65`)W(]=<Y`=!TYJWMY"ZC'<4ELFRW$L5CLO91=4^/P)3CC*G+R6U7LO
M^R%./*;=?*$?LPCU)V_3J)2;D5+T-[$1<HI)]$[EE5:L2<9;C2I+U@U+!@MP
MZOO3*D(=;"_<980A140#LD$^G74F$/#"7@@56I+68$A;V'-BVE5$M*]U$BNF
M,HDQ9C+HDQ7H[B/J&WT2D[MJ:<94%A1.W:==&.;)^V:K'49S7LAUIEIX.K0D
MMMN=Z5+2C^YD-J&ZB!V^X0G??;<^NN4[V@:8R"MTW1R_$LM:E5E1>4&0MQI;
M==:0:ZSB3W8TI8<<2S]/&?\`<G3V"T5IBM+#ZE(W&Q2=>1WOV];;M"QKZ:A(
M'?*J"G%0@YQQ?/>#,BQ[R-XJI8MJ:Z\=I?(ZAHEQE7?*'%<J*Y#KLBCM$"*O
M.,)M'D2'9H*Y@826E'NVUZ7:++;MMM1'U&Z@,JE;MC>\^$563@_W+>"\UY(:
MP-E^W8@WF30\6Q++FI$"95WUK+#OY;66-*PW^9T=+8(94E+[WZ[K))(W&LNG
M;+.8X#J/(+8PRM-"T@KI$%%EMV0](9CP0TZZI#K@:1V(`[W0ZZH)+;?<-SW=
M/CK,C+F-A>]K@!W+7IR<05&_E[RDX6X)I<FR+D7E?%<9J\.I3D60QQ;B1:1:
M@'M$MJ%6,64V4E2B!V,M.+(^`ZG54Z^C9YC1:'PXE,?AGW!,+Y>H\;R#Q[X?
MYWYTQ+)XR#CF?8UBL3'\.L%D&6J#(M;U^NDUR-MR'%QDE7H=3]MN676OID.T
MTK1:M>QQ(::T2YD\T^6;S@ET_B,U^72XJ9C$>YY?PZ'8H<8]Q7TZFH<&6V?I
MVS[BUR5$$'9`"AJTTNY+90B\MO.3S.\9WH#L_COQD=C9##,K&<'EY]R%:\C(
M8:?9:O9<Z?643M`IEE^6E$1QE*G3W;J7VZK)[EM2P'$%=.G(!JH=/--[X=>1
M&?\`W(?(.%Y.89@TGB+B#ASC+,.";.WFWI&9Y7E>;6^%Y3];AD:!7.QD8LU`
MQM3"7K`19*U/@>WUW%4WK33^$$UY+D7-&)("Z><<>'?C=QMRMD7.^`<:0<?Y
M+SR"R]EF8MOOJ5D5BXPPB-=VE?+G/04Y`B`LH4\AAM?8LI*@-QJ]MV/9YA19
M;X_)BI5*$%U];SR#(;<=>=1V,);64(*>R2L-MI"@M!"DD]2DC;4[2YP!:"0N
M@@E(J&FBS$O1^XM-O-K4A024H6%E!4DK0E9&X22D';?U(V'76.F_.AHL]":E
M=)HKNM%R1HBM/K4&5H['"T.U;BT.*0$'N"&^[M2HGN4?XM$3-9Y8IR:<>,V(
MSZGYU4N?>V;,T(&/1XMA',$A*.X39U@XCM*#Z,ZE1O:UHJ<53[E+&]O2:09!
MPXIUX2XL<(C%`"VPED%*2E)6A(;"@!N`"4]/PUL]["P@%;;8TL86NP*V>H:M
MD:(C1$:(C1$:(L&4XVE1+ZE!J,W]<I#(W<=98.SS+F_3VW-Q_(=<;ZVEEM-<
M32XX_'L2&2ZBN*L8>E3S<*\5\RV,_:EF8AYD>;GEEY,\?<%\P87SQRUQ9=\$
ML9!4Q\NOL7J',OAQ+QJ0BU8^GI9%G!4A:6T$A(&O'QF[MR6R,<T$$8]O+%8W
M/<9GM#0*@9]RG3Y5^&O('D+R%]OK/L:A896XCXP^2TOD_.<=M'55,:#AL#%[
MO&:"DQ:!1MH]^SB.R&E)2=D?*23L"->GV6D41#S0J%:7$&H.#Q3!)7R&\7_,
M;COSFSWS6\(XW#7(]KSYPI3\+<F\>\V7E[C2,?\`W'8#F)Y7C5Y15\YJQ8")
M;Z9$)]"%+(*N_IL>DT<AD+V@EIXJSDE9(P-:07#DF`S+[.&6WGVW>.O'^EY;
M@J\LN*N;;_RRPCE2&E4;#V^?<HR.PRG(J"OC2TDL8;]1+,,%:$J<2`O;KJPM
M'!C:/-#@N2D!'^WSR=2?:2Y4\/*RZQZ?Y+<\X=F>6\FY@]*1&I,@\@.49SN3
M<@W_`-?$92W`KGKMTQV"A!_9H2?4G6#<W/4>0QQC&`/`CYK(%<`HWL?;6\CJ
MGQ@^Y1PE9W''E;E_F>QQS3\5S85W8NT,->+\48UQ_<)R2*Y&?3#8LK6BD2`X
M$.#VI`/;\-?.]WW_`'"SW%K8V.+*_;BLR0S")SPTT`S6TS_[9GDIQYSQXA>:
MWBE=\=Y3SWPAXJ4?BSD_$/+5_84F$91C\*IL:Y_*,?S*KA3)=?95;]HL.1U0
MT(DP(R4%:2K8^YVK=[F^M/UFEHI]N:B=*ZT:]#M//!(7[A?@KY$^6O"/@XOR
M"G\+9QSOPCGUGE>0\;LM6N!\(<DRLN@KJIV'1KVD=3?8A-H(SI,*:A(]V2DD
M[=VIVVQM;,7FG3!Q*I?ZUZ/>8X7.`B='B3P-<E+?[:_B%9^"&+Y!59'Q3P5Q
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M_9D*[=D/I#?S).QWU*W&..5VIF.-?Q7+:VNB%'#`I>:@*[1HB-$1HB-$1HB-
M$1HB-$1HB-$0VRA3W>LA/IL3\-AMT_`Z(L5;;2UJ[HZE`J_7(WW`4=E;DD]-
M]QHBK;990KN0V4J&^Q/H-_78;>IT15.['M[D*<V/3;^:1MM\1HBC9RMX?>,'
M.V>8QR?S%P-QQR-G6%0H\'%LHR[&H=S=5#$*U;NV(L&2^"J/%^M:2O?KLXD=
M-M$4E6FFX[34=D)#+#3;+24H2TE+320A"4M("4-I2D`!(``T15'T/\!_TM$7
M(/RY('W+_MLDD`?6\OCK^)QBYV_TM$4F?%4%/D[Y^H/11YDP)(3TWW5POA6P
M_CWT13-N4*1#E*5[2HXB2B\VOO(6CV'-P4I224[_``T1<Z_#GC].6^.=+*7E
M6:8U<2,@Y`C0)V/7"XS$1DYA:[2*F*]'4PGLV`4M7:M).P!!.B*<D'&L@Q[$
MZNIK<XN[FQJY;3KEYDL:)8V]K'0V52X<UYL,CVWTC8*V)WZ>FB)(S>0;&@R[
M"<1EMOW<ODNZOOIX45AN!/Q?'**A78+L9;$=U[OA.6;?M!YXML@J"2H==$6%
MS;QA$YBX[E<;V5JU!%_.HW&A8Q$R(_U%%:5UK*C?2QU,QU"QCPUH7W*<0MM8
MZ*!(T1.[18Y78_2P*.BK*VD@UB0F/"JX[<:)'2?;"V(R$M=S25]G<I0_6)VV
MVT1:?/L8JLMHI5%<H2BML&5L2TMN.?7ND@%J373@CW*F=">"5I>0%%0!1L`2
M=$6FQIZ1C6/Q*'+,GJ;HTB8H=NG`NNE_D\=LLUUI/AMN!M"_<*6W@DJ[ECN&
M^YV(FNL<6Y5O+]YJ[Y;:@XU)ERI<S%:#$:>(TY&+;0AXTQD]DEZ0R+PMAZ0Z
MA"R^5D#8'1%)2G+Z:^(U)CIA+:BH83"V1W1BTL!M(##,=E*4LC;]7^#1%L]$
M1HB-$0\0PTX\I:$I:0I:U'N^5"1NI6VVZB$@]!N3Z`$[#1$S/)'+N,\;Q&!=
MS'UV]PF6FJH:@HDW\D5ZFURWXR6PZAEJ.E:"XYO\H7M^MN!UC@ZQPS"YS.TQ
M.[E9@U.39E(8N+YYN+3_`$`3`JV)LMFR#LM*%_53I;+,<K0F&ZDI0I._?OZ#
M4UDOIP*E>5@L77=V33BG7K*:NJH$:%7QVV6F4A2BVW[8?>3N`ZXDJ<45J]5$
MDDG<Z@RR=20OYE>I;8NC:&#@MDZ-F0AM"5;$E2'D!QM0]=B@J`6-_@2-<UL+
M9S#K/!<X/NE<7HYA\)/(['(V$CDK)&L#^MPO&D59N+@6T6PAJDN4\-*DAZ0B
M*IWM:!4%(*M_31;KBWY+77F[Q_Y5\9\6</<-\X8OQ%047&E7@J..H35SQ9;8
M?:X*Y"Y'@Y%4O0&*G&;0Y3&C(*6UNJ=2\I"^W<G78C_:.YU_!1I\7`=B;/)\
MR^Y-C&><)XKCN"^1M!<5O"%]#L9N*U#-C@]E6Y)Q;G#D6':0"5P,2RBNSWZ5
MB$Y$0LH64=ZOCJ%M6,A!RJN`*D]XE\9_<#S?PT\T.*LKSKG?&><,V\:N(;+C
M3)>8["QN)M1RUE6#Y`GD.NQVQA+AO->Y)2U&<896%Q9BO=;4I0&HSO.:\RIX
MR21\;:_+,OI?&#CGC7Q.YCX/R7!N0V.,?+G,,BKU5;>?953<2<A+E99*R=4E
M%E:U]=F88FM7#"D.//62&%E13J?MD44T[FR^7042'^VFSSZURUC_``=G?(G/
MN+\:<5XUD+KF!YI<NN9#,Y.Y%R?*F;2IS9-VVY-R+%X47'5V-3'<["?S,[J(
M2DCSON%SK>HMQAV*QM$HLW^V&WX=W[?E9QSE&30<,O<E369-C&"-M462<5X;
MFF:PI3M_695-%K^:3N/Y$D,P[62PRE-<AY"V0OMWJ]GNY-(DDPFXC[EWN/W3
MW+L)C?B/Q`ZRZUR?RYSUR7>V;[OU]MG?+.0U,C(*!5=$7"HE1L6D4U:<=EH<
M2M"T!,A2ALM2]RHQMZ]Q7UK(V2A,#<2.P+FQNIP:GHQ7Q$\2<9GU=]3\*\=2
M\A@/C\NN\@J(667D!+6_<D661-W-NJ-[>X(2\-TG8CJ==-L]\;3<.`FC`!^W
M-+JU-,N"EC51*VK@QF(B($>K9/OLPHC2H"$QW/>02U"8+#K:NY12T@(+82!Z
M:]=#NNW7C-5B!4>:F'=Q54V+IDX<5S@H/*;D!SSB\IN#\EFXM`X:X1X(X\Y#
MQ=;I%=:?F-SD<Z+D#M[D8>#<.AAUL9KW$NMDM]RB2>[8=?4MY+9<@_(/ST/E
MK497QGFWCKG&)95A^35M507W&V0T8N^3.+,\P;,[J]D\<91:X^Y*QJ%;P\14
MR\0F2Y.;;#L<-$;:X.MM9+P,UM)<Z8Z$I-<!_<)X>\'."<JH/%_B/DSE;#*^
MIJ<LJ+[+>6JNVM[[$FL%D3<@EPI:,>$UIW";"B74+?*.YB1)_:]O3?I#!TY`
MZF*IC<ZYM*Z"\A_=FRFH\,/*WR@Q?AMBFO\`@-OBF'BV.Y->BTK;F;RSB>(7
M4&3D+D5LHB1:5_)78_N]H3)#7NJ[=NTS"K:T%25MLL\H_*7QUK^&JG-L\Q?G
MK,.<\>Y9SS&W\>P^%1T.-Q<;XP3FL7$,S,:Q?L'\;J)LH)BSRN$VZPTI7<5#
MM,J$`L[5K>S31RAL+?#2OQ6N^WE]S_E?S!RW!>*<RX%8Q7.:7CM[*.=<GI,C
M?LL5P$S$0W<0M(U=*C-2+"KSVM0N1"]UXJC-.)<25E12.QH&J*VYNB15N"[H
M_*>J?U2`4]=_E/5/4]3TU7J:C1%:=;2ZE25(!W;<0%>ZZ@_MDEIQ)#92"/;5
MN#ZA0&B),8[AM+C"Y:ZR&$.R9)><EO/NR94M!:]D,ON/=RT-@#NV!4`K2JII
M;<ONW.IF4J0GMV`;;Z`#<$DC;IZ[=3HK6&W,;*C@J]%T1HB-$1HB-$1HBL2&
ME.(3O[8;"T!>^_>MDD^\WMML00!MUVUT=.(X"WBIL7[([RHU^4+P3Q9&:9;5
M&0K/L`7(21LA3`RVMBI=2L$E*4O>V0GH2'$D#UV\;?7(ZH',_BJ6Z%0>T)WL
M*BV2<:KF[-IA$XM)8F;%14]VR'GRZ\A2`$+(4.HW._Z-7=IA10;2U-:4P2T^
ME94A*%(2@I/=WH_6W`(V'IT5Z']!U;'R#O5V(C&WL5*F2HGM8AH*4;M#VNY*
M5@D=V^P([D]3Z]=:(KK:$A'5IGW`/V92CM2D_P`[Y1Z;JW]-3&_L_!;1^;XI
M"Y>E3J*3Y&@ZW8-*2L@J2"%[[[;#7R3W"/\`_(-[U:R_\)_<E8HA+33P:C)6
MI#2NY$9/][H"@AQ3/S#]9)/X>NO=;#_Q/@N3@?1]E/P3+L)4GDO)'<U75FN9
MC0?W<DSHL==;%K52-W4!N6@,_7*D*0>]*NY'78$==7=F:,>WF[\%\QN;=TF[
M,E_E`I]4Y\P1VD142$1>UYN-40WD)]QDH2MYP.QY/M-MAE\-=JCT`2H`;C23
M;_4'4`>?=V%>IGN-LMX`R<@/I2BYJ>;?,-#QT[@7&;?*^"\#3N7<CC\=5><Y
M0Q2.4^&3\OB7$83C1E,>%];-AQ9E3"9FJ3'=E/\`O>X2-64XHVAR_@H'M_<6
MRDL::_@IE^,W&N`<+<285QOQY?JR'#<7JI<:GOWK>/;FR8DRC829:YT4(C2W
M??<<4M8'[)*PTG=(WU3GS*^F.B3J'BG+RW-JFE@JG,*5;HCI6I4>J<^HFO?.
MTV1'B-`O.E"ECNW``WT7/U#4DL?R:[Y"JH%]C<-5#&(EM)_/X3Z[5*VW%,OH
M5']T(A_,CY5`J)'4C4V']L*KFAZUT9.!2YPW'+*BARH]D]7R%29SDU"XC<AI
MO:4I3TCZF.7`AZ4MY6Y<W^8]=M;2>4TY*W@MM+:I;:@+JC1$:(C1$:(C1$:(
MC1$:(C1$:(C1$:(C1$:(C1$:(O#Z'^`_V`3HBY`>88]G[E/VU'%J:"5VG+J1
MW.MMGY<7N^Y7[52`K;\`2>NB*3OB]LCRA\]W3OW.<T\?#V2"EQ)_H8P@)W[@
MEM25@@A25%.Q]?71$^_+O/O#_#K-9&Y5Y(P_C>=DD.^_(XV8VT>H_,_R6&N5
M<_E[TEUIF6NLKE>\XE)W('31$Q'V\9=38>,.%65)/-S0V%SG=A1VW<HP[:LL
M,MLI4.ZJ'"5HE4UG'6E;#J5$'8_HT13=]H`+V41W=NWI\O:ONZ?#KZ:(FONL
M$BN<E4W),6XM(5I#I[+&[2HAU4297W='-<C3([4Q;[*WV)$*;&W;<:4-TK*%
M`@:(EI25<>`J2^VP_P#4SI0GSGW'EE;TPM^TI\M+"T1B6OE4AOM3^@:(E"D=
MO<?[;^QZ?]C1%2IM"U)*TI6$]WRJ2"#OM^/IMMHBQORVK6HF1#BO!Q85(;=8
M:6F2E`V99>*T**F&O4)]">IT1,3EV5NQ>8N/N.!2P;.@R6KN\AMI;[2R_5S,
M;8+U7(+3"P^EQ:FDH;*MD%'S:(I`("E%Q[O(]Q6[B"`KO5T._>?F&RCOT]=$
M56B*@KZ/]J'%%ACW%%"?<)4M12TD-A2%$$I.YW&P&B+&,QE)[528I6$+W9#D
M=#SC@V]OV4.3@0E8/\X;]-9`J:+!R2;N+U$1,MJ*F1-EU[]>W,BQ8JU/LNS2
MEV'[3JT_3R6E%(2XIO<HW[AU&I`@!XKK"V.2$R2'2[DH[YEB+D_/I[&/.B;D
M^54,*HF6]@PJ0G#,`I6I*Y"*A2N\0;JYL)RO?>^5<GL23^J-=(W^D.IHU$\_
MX+SEUN,AE=`U@+!QQ4E<9A_3U,*(MQUSV6&TI>=[U..,I:;:8*W70''E!IL;
MD^AZ:BS/,W^7N4O;I3#)U0T$]J4+?1"1^'3^R=<VB@HKYUT9':W-%3VE5$)4
M"E:>Y"ALI.Y3N#\-QU&LKFZ;4TMH%BF(T#NT$MCT4E3:7D.-J.SC3J5[>XVZ
MV2""?CO\-%Q57T^XV4Z\M.X.ZW%EQ/80ME#;B5H]MMAY*5(`'3M`.^LZCH,?
M`KF^,/QKBJO;6.\H>6VI0&RD#97>.WM+A"A[K:"D$(.R0>OQURMXQ;DD8@\U
MJ(0.)7H;*4]J5^V$N/.(2TDH:27^WOW;[E=ZP02%;@@J.VVM#`":U*[+Q+`W
M;*BVLM)*4=S*2$(4XVZXVV.X!+:U,MG8]VRD;[ZC7(FMV!]N-3R0#W'N6"DP
MG!\;9G+N6J:L-O\`5)L5V:X,14V38H0(Z+"?++2I<^?[+BD%QQS]78!*=NL.
M[AN>@99&5[#53[7[S11UY$L,)Q?A'FN?G!K*O!8%'G/[PFQ2Y)IW8CS-S$15
MNLOK7[RIKJ4EB.CH93Z5>NVO,[<]\NYNU-TBHP&2WNY-,Q%,J+/\/ZK(4>*O
MC]"Y!@.M9O#X>X]1E2+1H/V:9)@(0Y%L'YC2Y#DIF%[8=[MCOZZ]M<;;9W`#
M9P-+L#W*,RX<UX>!B"GS?Q&D=]WV:J`E3S:&DMICLLI3\P"E)>80T\VM:21N
M%#;^QJFO/;.RPMK:@.?]N14I^YR/%"UOU6D,2=BZUS$S9<W'U36([]?.6)+M
M.E""VI59-/\`?7TX4YN>\D#;;7FG2W6T7+(8XF]*8XFIJ*?]5%'ZYJ<*)@\]
M\*_%3D_E5SF[+^+8%OR5/QYC';C(T7%_"3D&*(;D-C'LAK:^TC4V15$DOJ<=
M8G1I"2O;M[=M]?0;/;8;F$2OF<TTRH%MT!S*1O'OV^O"_BNQ3>\?\(5-)/C3
M!*:M7[?,;RQC%J#=U<1B`J^OK:-!B5==D<UB&VRVAN*U(*4``#79CV-=T10A
MN%>=.*KYK8/)!<<U1A/VZO![`:E>-X=X\8!38Y9XKE."O4C461/A/8UFUR<A
MR6M5%EREJ:CV]RAM^3V*2ISV^W<!1U(N.G!;F88D446':X^L'ZW?()2\/>('
MB3QEB'*_"W&O$>(P<"RJ\0OE#&)BK3*Z+()CE+!:A-6\7,+&_+T"!7N>Q$C)
M6EF(TD!I*2`H0X9Q+YJ!7$,`BQ!)7N"^!WB9QVBO1BG#56RQ2.90Y#ES[7-,
MGDPJ_-*MVCR2'72K_(K62S53ZMY<5$(K,>,ST:0D`#4\2=(:6BHS6\LC00"T
M$TSQ6J\;/"'C'Q.S?D3,.)H<KMY2?Q6EL:R6Q$9:PC`\*K40,4PS&5--"Q55
M16BI17+??=[W#L0D)2,&<G@%S,K#E&T?$J>'\O\`'Z_Q_IUP7!&B(T1&BT#`
M':N*]T4H3D,+*#%>:+@C1$:(C1$:(O1V_P`X[?AHBP9CC2=PMWV4E'[-:SLA
MQS=7[,$(.RMO]/7"XBE>PN'[:[BXBCBTN/C42/)%:)PXLQ:RB1IU?E/(S0EU
M2I9CR["TH:0Y#B?:L.`D?F].P@``(<2D%7S:\C>6]JUX=)*[6#@,/S5!=7HU
M#2!4E2KJC(7'A/2D>Q)=8:=D15;>ZT^I.\AIQ(Z!+2CL".NO4;1$VZCUN):1
MP5C9N<2-0H%N=]]6T\0B:`"2K:[#.DTMYH'0[_H(_EU&4!>`=H_@_P!7K_JZ
M[-D/3+:9!;/'2:UPQJ*I!YBH,"H5MW;36R=^G\[7R'W%<'^HMP'F5Y;1"[M'
M!Q(PX)6MH0^TV@+([&D`[`'O"AW$'\-C^&O<[#.[TH%!DJ6\O'0?[4-!;SXK
M0Y/30+*)'C38;5E[7?[$=^$98`D`Q7G5)2I*5%+*B$]WZI^8=1KT=C1T;Y3F
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M/S'7G71L:XEQ\("^TF2YNKCTTS`R,-KJ%2213#'!28K<<H:^2ARMKH$.6YV,
MB=%AM`.;.)D%IB4P]*[GG`P=P=AMOOUU7LO('3=*N%<UV%@VGG=7X+:&4V?>
M?:=CB.IIV27XHCJ;2VVLK?"TAYI;+Q;5W`N)&^Q)U+DN^B_1&`YF=3V]RGP6
MD;&:M1+EL.Y2&VDK[`X6G%'Y^YO=&Q;*Y("8[(=;&_4G8G;<ZY.OWZ3X1ES*
MV%VZ/](-!!P^:UB[F,AMQPKC)++7U#S;L@LJ:CA7:5RENLH$(@GH%)7W)^?H
MC<ZX0W!EI4`56%L67NYTQWC'3([.[V??#+@4"Z%M>RZ%O*("`4**4H<2>Y)(
MU+IA585Q"N]"5[CYAOV]BT*1U([%A?4K&WJ-@=]815Z(C1$:(K2W4H4$E;:=
MTGYUJZ-K.Y9#J=ALB1V+2E7<`%)ZZ(K*I0_9+;#3K#I!]\N]B$(=(#"T%`?C
MR=B?V@#S93M_!H@S7BI0;;[WE,`[D?LG2XTV65>R^E][8>VI<GY&@E*BHG;8
MG1=9(PP5KDKK+X>2@E"FEK07?:<"VW&VB0&O<:?;9>#BNN_R;#IHHK)"YVDB
MF"OZ+JC1$:(C1$:(C1$:(O"=MM_0GM/Z`>A/\0T1<$/NPY+S#BGEGX#W'C_`
MQZRY?BV7*KV,P<JKGK.D=B-81D<^=]2Q'<:=]Q[9"$==CHBV'@AR3YB6W!_W
M%^5.2</PNI\R(:IV2XYC576V+&'V'(5=XZ4EAQW'F5TA]V:Y7SKEF(T^A"DE
M;6X2`>NB+I)Y6^'7`OEG74L7G?`86?U6(5UZ:BHLUJ,8*R:G?IK'V+)A0E0`
MS!<['5H.Z@=SN0"")$_;1QRGPKPSXDX_QN`BFQGC<9/@.-TD:8_9QJRAQO)+
M.%4P$SI2U2%"%$2$)"MU$;E1)T13RT14K2EP;+2D_*E&^VRNU*_<2.X;*Z*_
M3HBJ'R[[?SM]_COOO^/\.B(T1&B)*9+*G13#=BV=35PX[P>NWYY7[K-4!\\M
MH=4'L<V3_'HB3M'AE"SE5GR%';D3L@RB.X$VTJ2MP0*^!7QH$2#!;<6IN+$G
ML+]W9"4E0/4G1$XP4$?,J0DQR$M!,<H4Z7D;`J3W@C8D=?T:(L:9*^E96XEU
MCWEH6S#CR)49M<F8Z!].T`M;7S%0]`?CHB1DAS,+:)#;GU\.C#UC)C7#$E3L
MIANI->[[<UI41TEN0T^A1W6>T]PZ=-$35R?&#@WZ@W5CA+9E/OL3WI*\COGP
MD1A[TJYEDV\8QOIG"%*0E79L=MM9&8[T6R_?+*,DFK:P2!3_`+HLM-PJW,[:
M4J1#F6$=20\Q"KF%ONNQ$KZ^XZYW(2"=P.FK``C/-><W7<'6DG3!IBM=Q*QG
MD[).2<OS['H>+1K*RIZ+%JP.%,V?7XXRZAZQ[HJG%HJK&6HNLA75Q)W43MMJ
M//D.:TLX_4#JGBI&0G4O)<=0M)47#WI07"EE1`);2'4)[4]?0#;49>FM;84H
MLK;;IHMY&Z'EO)&BT1HB-$1HB-$7H^/\&NL):UU7C!8*T]S,9A15/R)@A-)`
M6Y)=0HL-M,J0^][JA^K[C;10/]ETZC5;[@W2"UM",*T*GVP.%.:Y<\O5:^:^
M>/'?Q>MG["OJ9N.Y+Y-\D?M>RGRNJQW-:6N@8O8PG=T/1U3W&G0G8)5ML=P3
MOY?V\YEZT7C?YB?H:+2]KZ@_#[EU.96VYU;ZL[K+0V0G]FI"6T@^V`G8-H``
M'RC;IJ\W.=P<(FG$X#XJ(J=MP0?0C;H2#_$1U'36UG&^!PZV(JBQ9\6/*A2F
MY">]+D5<,MI)]Q:)(]LJ;0"`IQK;NWV)V^.I.[V\%]$V9@&J('ZJ1!F4W\-U
MW'EL45X_)5""MJ^[;;;*4J21]+62SV=H5+ZCJ.X=O0C7CHM[?%,;>OA"DIQV
M0I+;14I"EI;&Y:.[)&Q/R@?*0`=O35U!=N<[4:T.*@/\Q[UJ;6^K:"ML;JRD
MB%"@0Y$B3*6=T,(#2D)5VKW0#WJ`'XDZL+VX/H75RP^];1><<TV7$+7YDC*,
M]2R]&:SK)';:%"D-I:4S2L0XM?3J]I*0AYJ2S%6L+4%$_B=5=K<N%%,3WML-
M?,L)ZN_,L;D)/3;8(![$IZ>@`&_77HK=YDCJ>:B3>?X*^&00>U"ME!M)*.Y.
M_M'N;'<G8[I)_A.NZY*K8[^AW^/0[Z(O-M$1L=$1MHB-O^SHB-$1HB-$1HB-
MC^&B*Q(4E#?<YWA`W)+2T)>)'ZK;27`4K+AZ'ITT1-%R'D/Y5%0RYE",:C3$
M"786+\F,I^DB1BI3S34)1<5)DRD[#9+17Z;'46[W.*WC-L?W*?>H$]E+<SU!
M\%`H]3Z!&<3Z_DNE38RJSC&NF9#07F41YD==[8,^Y,LWH\"R'<S'74N*0RM:
M`XT#\G;ZZ^:[I%/<S&2,^$&OR4N/VX26R//$?>I-\6Y36<AX?C><5DA;L:]@
MHLF$EQ2C&=4[.;FQEJ[B7`M3:/UB=NWIMUU[/VU='I<U*G@]/V!.=\/X]>C?
M,9'EO)0XYS*XLK4!&M5V0?3^36S?*[N_!;W/[;/]*0>:F,X*<*7\ZIK+2&/3
MWG6%%3Z`=^X>X#\/XM?'?<1']1;WJ_VNOI7=R6$=EI![D;H5[30+6^^P*1UW
M.YZ;:]UL/_%'<O+;G_ROB5B77L?2K]]2$-M#ZAU9>^E6TPVK=3J91(0D(4!\
MI_6U:0719<>F_P`1JJK=GNAC9,,@U1X?GX@[8SG6YN58^J4EUS\R@MKC5]X>
MYQI<)I]QN7VSPTLNI6VA*CW;@[;:]-+*;*(2-XKSEI=V6X/Z<[6E<*_/EC$<
M!Y>Y:R?D;'>;XM5C?CY0Q?`C(>,Z7.OH\8Y[L<@MD9ME-N]BC<=+.:3+9NM6
M[935+CNTB']^W90-7#N;IGT=DO7V&SV6S#5$T"N*C[-YT^Y#BU?;//9KR-BV
M8T]_D^5YC,XMXJ:R:GY1M<?C<4?E,&\LE0+%%A)_*K^QA25UK#,67,3[S8^1
M1U+N+9T\-&>96'7BF-6``KWD_P`Z?N"5N=\PUN)9_G<;F.5@O(]K7\-1N/OJ
M,;P+"*FVXL5@N;8/&F5T&TS;(IF-WMC*L)#1+32OJ$*828[85X^/;)_6YXU1
M-W=>1?EEA_!N5HX(YF\D(F8YMRSS3R=AW*V7\3YM?4F<UE+`PZF7QXO'Y>+!
MN*J1:S9JJN4AF-7M102XUW;*-Q+$Z&3IOS`'W*<S]D=RG)X\^47GSG'E'38F
M]%Y$S%_)[[*H/-F`6V)R:OC[AGBR-BN,-\7\GX5E$R#"BV-SD%G-?E.1$N2E
M(6>PH0$@#@\^`]RIY/W0>T)L^*;C`,4X!S6;6Q^>I_W"&,6D1N;5YECO,665
MUS/KN56(-[;W%0^P<-R1,RO>976Q82$OJAH<;"@A)UO:4P4M8''.:>=6#PN!
M:?&O('E-F9Y#>67)?!>;8KRU1MO6_'][6\A#)Z6_H6KB.S9*P]?%]++BH=C+
M?KX;DUOH$A/;9GRA87U/5>YAMDON2>B1[KWM>^KVVT-GZD,[I3)W1^T&Y^;<
MCH1K5%L-$1HB-$35<WR3&XAY54Y+DPHHXTS5<F1"<<:FL,IHI:'I4-;92M,V
M*V[W,$$%*SN""`=$7PE8ES)]QV?)^R"KR,L\+Q+QGM>?K!CBO+\.Y"R)?(O)
M=5`AS)TUOER-]>A+T2)!2EY2'RMM]S]FV`0=%EOF'>IUR/N0<M\\<?\`W&^,
M;_F7%^?,.XLQ7A7D[CK.JK%)?&<AMW,N7UUS^*0XV-3(ME88]!,5*8DQYQ$E
MU:")#24'KA2KD480OK]Q=2#0TBDI0TM557B0V`I0<DIKXGN%E:#[:6F0H)V6
M"O?KOZZV*JX35YY42BUA24:(C1$:(C1$:(C1%:>Z-+(]=O\`3Z?Z1T1<@_,-
M:O\`I+/MHIZ%*[/E<+20"%)AXI>-L)(/JE*%D$?SM^N^B*3GBX$N>37GZ'/=
M<".;^.D(2?F80A'#6")0TE)/8EL#U2!L/PZZ(IP/;)CR?0`197Z``6'-_P!`
MWT10_P#`L#^K1C2@D`*ROD(J4``%*.8V_P`RB!\RB/B>NB*8NB+S<`$DC8=^
MYW'3VTA;G_K$*!/X`Z(J5.-H[>Y:1W[=I)Z*[MMMCZ==]$5P@C;<;;C<?I'X
MZ(O-$4<>6<]F5G)O%7&U3'KI\_.7K*1<Q[1EGV(^%U*$NV[J'7(CO<I3X!.Z
MB$Z(MESW>OXUQK>2*-QRILYK5;08LJO]^1,1>Y!,K:^*IF&VS_@\*">XD`);
M`[N@&B)32Z"Z1*57H=^JH9L20Y?=LAY-M.M9\1Z/,<B/1G6EQ&TJ=W`04[;=
M-<Y&N<VC<USEJ&56EJ>$>/,>%=*9J[MY^M*;&$NPR"UM%UDE"^YN=&:FS9(D
MS6G%_P!SV.X.VQU'Z,O(_51*GM3D3\FQZA1&8O+6!3O2)356E4B6PRBPLI7<
MIN``\M*5OR4JW*/7O*D_#76/9)KIW7JX`X9G@N[=T9:Q]`BKLTR7.>0VMGA<
MNDP>%%R.?D=YB^+6%/'G09CW[IWN00(&8NPI"Y*&X*(N-M3.[KW-J6@^NVK:
M+:S"PUJ:#MY*N??OEE&G`:@G?P;`<6XXQFHPG#ZQNLQZD95!KX:_>D>U";[I
MB?<DO%1>><<DELJ425=NWPU!J>95NZ.-Q\36D]H!2U"4@A02D*`"0H)2%!*>
MB4@@;A*1Z#T&L+(:T9`!>_I^)]?TZ+8$C)&BQGFO/5*E)!6$]P4$?,K='?W#
M8;D$=BOY#^&M)<(SW(K")#16A':MM3JO;:*]P'%]#V()`!5LH'^#4"IYE85_
MN!)`4DD`'8*!.Q)`(`))!(VW'QU+@)+37FLJVM8)8(4"E25*!2=P4[^NXW&V
MNX15!YIQ:D-N(4I*4.*"5`E*'5%+2CMT"5D;#\=<[B=LC=+?HBH=6D]R$K3W
MA(60%?-V*5VA6P_FD]-]4LD3V3LD)=IUCFB16</06L;LQ8!3C3\5Z(RVGN)5
M,EH]B&>T=%;OK2D?BI0'J=>:]\[@PWD,#<"K"TK]5S<\H9MS@GF9X!9)A33!
MS+-)>8\-\@I=B/6+K_$IKL=O[&$N+'[C41WKQ*0F:Z$MA\!`4%';7L=HC;'M
M\8:`,.5%QO/^0:+JPPF.EEH15^[&#:`PZ=BIQGM'MJ*@`%$IVZZL2UIS`)[E
M%5W8?@/Y-*!%[L-P=AN-R#MU!.WITZ:UJ&O#3D5WAD$8()H"M1;04SXK\9UI
M+["T!3K:T[!+8[O<4PH#YI9/:4;?,-NFJ/W#MPDBU1L`/8`%UZ[.>*0.+2I[
M$B?CM\MR58USCKD9;25I5/@/*!KWXZ4_W1%<WLE\C<)/ZVO#^W-R=MMY)'<^
M4.(&K'CVJ9)-')$&M`K1-_Y+QY,GAGD2'25\BPN)6.F2S$:0ZI4TF;$]UF,A
ML=RUACN4`D>J=6>[6AW6?U,+W!G($T^0-%4O8^%_7`-`G)XSLJ.QP+$95=(,
MJ*C&J6.DH_5B*C5K*)41?;MLN.^VL$'J.T_IU>;`8+=X@>07]N/WK'K7\L>Y
M+KWV!T0X$C9"ME+V)"@%(4-S^JI)W&O;WK&LM_#2G8AE,OB.:^6+S6J?/ORO
M^[ERKXM^,/F]DWBYAG&_CCQ?ES5;6QGG8MO:96W;2KAY"V(TA6R8L`'NVW!W
MZZJ]L=F78C%8*E9]O_SCY#XI\8/+2D^X7R<Q?Y[]N[DZ_P`'Y>Y:B0&)'[WX
M4U5L7>,7D*+%@`2KJUK)<`ED`K.Q('4Z[J#4J4_`_P!TGBWFKEN%PAF/%_-G
M!/).3\<S>4N.:GF'&%4$7E3CV%`_,WKO%+1MV9&:LGJ7=]4-;C#S;>RRV`"1
MA9#728"J9?"?O<^.V=HXAR)GB#R)QKB+F3E)O@ZKY:RO"Y3.`T7(TB\M<>HJ
M>78_GI<O8EW9TKC;3D1I?L*V4L:5"WZ,G(_,K#YE^^/XK\7Y#SJQ1X-SMS+A
M_C);P,1YQY/XTQIZ7QQA7).16L;'J+"YMJN17OWCD]Q*@\ZEE^(P(P*U)"M]
M84AC2UH:<PNS>"9%6YGAV)9K5B8BLRZCJLKJG9Z`S8HC75>Q+:9FPT$M,N.L
MR`2$_*E6_;T`T6R6NB(T1&B+7S%%#"CNKN)=4A(W*E]FZB$I'S*V`]!J"Z<:
MC2B*+^>S.4<ZN9&/\;9?48;C>."56<B9"]'5+R9,T,(DR48?([C%K[:#&>0@
MEX$-*6"H:YO?UFZ!FMVR",ZG)I,4PGRSRV<)MWS-CC&'3BF''%'CTN'>PJ))
M$9JWCVCK[4=R[DUR4.O+2%)<?<*D`#;7'T[B<W4[RH%S^MY3C3@I#XYX]8#C
M=TQ="ADWMBVRTHW66V\W)I#SZ5*[G6FYLI98=>4GW3L/:2I>P]"-:FT!-34G
MM6]FQT<(::UJ>*>>YK8UY3V=1*9>:C6$%VJL&]AW*A3F5LN?3^WN@J:;.Q[?
M0=-:/L@YA:!B01\PI>MXQJ?F4P7C_`D\<5KG"]^B+'L\1_O[&7(SJ2+7#)DN
M4NOEO`'_``N*A02\!^J5=?751"#MK@Q^#E@DD8X_52:2I*ANE04/Q!W&K^.3
M6W6#@5I0#(!6'BR"/?2XM.W0-]V_=N-B=NNVMZGM65CEQ/\`="OM+!^1).W>
M/7T/4].FIE^V.SV]MP78EM<^Q3HQ6,=R;1MF;<YQ+?E-2ET^/,K6`%I4E^UD
M@%2&0`0M3*=BH#J-?-(;SUV[,8&@L+L<!R20EL9#20*<%L\\RIK$\>D7[[,D
MKBKC,Q@U^S2Z_->3"AQWEJ`2`N4^C<'KTU]"L[9PH&X!>+N7.-YB3GS6D.,Y
M%E7TR<P0/RN"S'>G8XB4`Q<SM@Z%JDMK24)AOE+B4;[+*=NHZ:LGQ-8X$@?+
M\5,O-M=>R1N-:!M*5P3FM5<1MEAMV(V^IE*"'%I2T2XE(2EU+6P#*^P;#8`@
M:U)+O-4J;:^W6#Q``'N5<RMBOH#;T=I]@)[2RMEM](;*5)6@(4A>X4A:@0/4
M*/XG6H:!D`IQ'`XT6*FO:CL*17I3!:;9]MEN/$<:6V$E*D-L)".UH%:$_`)`
M`UM4\RL``9)N,7X3XQQ#/LCY/H..Z2JY'S(LL99FD*'$3D=H%-K$@&S>><2W
M!2V$@(:2E)).X)VUCMXK*=M#33B7"['C%+KBU=JF>\E&Z4I+_OM)*GR&QW;#
MMZ#;TT.)J<2LU*OE"5JW*4=RNA<[4]^QV!W<V[OA^/PUB@Y!8H%96AH(/]ZQ
ME".MMSM5%0OWBA6X*4H"%.NH[B4'?HH[_CH`!D`B05OQE@M[F>,9W<8306N8
M8;^8LXO?V5;&DV=+$L8P3*5524O(BUS[Z/V:E=O<M/0ZRB7S`(:2#W?SB`X5
M%P`J)V<)`'>"3Z=-MMM$5[1$:(C1%HKV(B?%>KWX2;*%9-?13X;K3+K#U>^E
MZ/81)")$=YIR/8QI1:<&X(2-]$3.?U<N%?RSC^D>X<X[L*CB"8F3Q95G%ZM<
M;`GRI2)TO&OK(Z6ZE:D*)3[`67%$J'ZVVB+0TOBCX[4L;*JN@\?>*<?@9BQ)
M5D<6MPNCK&<CDO6_[P-O6HA0VOJ_8F#HVXX`%GIMOHF)S4E8C:68T:.&`R8S
M"`$]B&6XZ%(0A$6(U'*V/;;0V`K=16-AUT19.B(T1&B(T1&B(T1&B*T__<E_
MP?ZHT1<A/,!)/W*_MI[`G:TY9)V^`_(;(D_H'8#O^C?1%)+Q9V_K,^?J"'"]
M_33Q]L$]W0_T(8*!O\-PKU_3HBG/*_P27_N25_M#FB*(G@3_`,F'%O\`A9R!
M_G=;Z(IA:(D]D*6FZZ;/1)=8?BPI<=4E`<=;KA+$9+TE;#*''75M1D]^P2=D
MZ(H$<2_<%\>.4>5U\38V,U;;KLG_`')H>3K*NB5^`9GFOM3'_P!UZM+%J;!Z
M^EHK9*T,KC!X(86M:$H&YU>X,:7'(++6EQTC-="8R0TX[NN0?<)6/?;4VA.W
M4AM2NA'\FNT43I8^JRFCZK,C#&*N66'$%/>""`%*("DE7:G;N5MW>@WUP;(U
M[BT5JTXJ/UV`TQ^29/,N/Z>PY$Q7FE;EQ)N\!QK**.JHX4:*^BTBWL1M<I;2
M'#WN.-D=!OL3K=/41]OR2TH,;1]`RBZ"[28W8S9D1=PRVW:0HD^29C+(1^T8
M3^5)6&4`;D(3T.N)G8#3&O<I9A>T!QII(JE<EQEI'U+H<83L\K]NT6R$-J*2
MM0'<4(6?U2K;?7>VEC?+IQRY*)+1PT9%6+*2S'3[S[S,:-&8<E2YC[9<CQX8
M0T][WN#Y"%]NPV))5TVU8'2!4?<N'2/-OS44\$XNFSLPD\@Y-&6%V4Z[)IYZ
MU6$5Z`N0I['+IJ)*1(C0YR4/K5V^V5!)3U/H)8O8H(.@*Z^[FN?HFR2=1V78
MI.0J&##4F1#JJN/)0A*A,8BPX;TAX[>XZZ(E<SVJ7\>@W_#5/)<W!\+/)W\%
M:QPV36U(.ON_BE+KFN:-$1HB-$7RY_\`X0ORYYU8S$X7XYX5F\B<.>)_)%RW
M6^1_E=QS0V65Y3QW3MS+6%(9LZ?%&U957U=;%<4Y]5'0A;J1T.XUSE_;*)@_
M!/DGR&P_[>GW`.-D>:'&'E=Q/Q3X[YQD/CIS'C>=73?.%*Y^639:V^4,%N&&
MLQQ:91I2VE+TMW=UU7:`=M]0244U?M[_`'-BYQ7]O/Q\Y<X7YWPFU\A.*W*'
MBOR!Y%9KUT?*?(&-XM%OY\6JAUEE8Y4B-8LN.2$RGPVRI"!N>XA.I5OY3WHI
M0\I?=QXSX>YWQ+AC-^!>;Z3C3->6Z#A.FY\R&J@XW1SN4\I=<9QZ/CF)7$JL
MS/*\3ERV'&E63$945"T=I421J0B;?RC^]/Q=XPYOY)X%DOCASCFF*^+%WQXS
MSWR7AD&M;P?%,5Y*@?5,9])!L46;SB;`L168+22\OO4H`;;FHA$K7G7SX8K)
M(78?B7DG$.6^*<`Y0P0V)PG-\1H\MQ1RQ0IB;(HL@K8UI#^MBOJ^I:D-LR1N
M@]W:K<$ZD7]W:Q6[20XNUC(56JHY)E-LU5>I3H9[;."^%+^I]MSM<2&FE^PE
M0V0\I+BN[;M0@J^&OA/NZ]?+[CA:-6C4*8=H5C9T`Q43>!80Y)Y]\E/(?LBS
MH&/6$3QZP$F3]:E,'BUDRL\6R\ZIQ<1VVRQ]]F3'CE++KD!"G25;:^\[?_PH
M\*>`?<N%W^^3V!=!TA02D*&RNU/<-P=CVC<;@`'8_ATU,49>Z(C_`$?Z6N+V
M.=*QX\HS7&5KW4TH5U04[^IWU/N'PS1:#6M%QZ4OV*0N1TKMFCOBNF#91GD2
M&)C3TA*U",-DQ%E)V3'D^J]AMN/37SCW?L$D]N'[2*34J:^''OQJI<#GLIU.
M"T"\ID4BHD#(F9T=4GM2U?MA$FNE1UD!*%.A(,=Q!^92%)'R@]=>.VZ\W#9H
M"-U!TC#P^+\E;^JL0RDFJG=_%14SEKD##^4UY]ACKTK&<B@U2%U];*6SC2K2
MC+R'HLR`L."H-E%6ITOA/:L((VZZJH=RW-^XBX@_X]>=#\J*^L]CBO8NK%HT
M]IH?AS4M<$R^!FF-4]W'0X&K1MY]ES8NQU`[O.+COD(+D$JW#"R`5I'H-?;-
MLW>.\VT-D+NM4C$+RN^=#;+X6I\Q8#AB/FN#?DMXN?=-PK[FO)7FKX/<=^.W
M(N&<@<,\<\9SHO+/),;#;JODX:U.3(5%2U26\F,U(38*3WK!)'PVU.L)(X?W
M?*>2B1GJC4Q7,.^TIS;FGV]/-/@[R%Y*QP^5?G%G%GS-G%[7N)M<,P;-XLYB
M3A>(1)TB.E4_':>'518JY);[7&B?DV&VI=5&Z+^Q7^%/"#SXY0\N^&/*3R_H
M>&^-JSQE\<+SB/C;B[`,]C9;)SSD6[PJ=ADO+G+AJKJH-!4/0U-K0VL+["H@
M)Z;ZP5(MF]-Y<_*G!(&O^V?Y:UO@+X5>-YIN-YW*'CWYW4_D#G%"WE:)%0KC
M:/G65WRYU=8%AU#M_!B9`VX$I3LXX"!UT4SJ1:JXTIR7$WRFC9)XZXM]T_Q8
MX0Y9XAY!HO*'R1QG+4T]O&RC&.:X%_<YQ7-RL`QS`[K#Y`S^)D:B2BTKWUM1
M%QUE?9W'1<'D%Q+<E]WO"%/88CQ!Q1AETVD6>/\`&>&55G\S04Q:5=)!@36.
MP*3VAN4VH=H2-@/3X:+1.WHBH4XVD@*6`5;[=?PVW_T],UPEN(X2`^M3R"]4
MM"2!W)._4['?M'XJ_`:[-@>[*GS07##D'?)(#,<P@XO7O2I3B79SDHQ*"O0A
MQUZVM'$E;%:PVVA3A+Z0"5D>TE!)*P>FO*NAN'RN#:>8\>U=QBD=Q_Q\K%L%
M-=?S';"7=.6=OF%@7!WV4J\^J>FR_=2>Y":^*^B&-O7VDJU96%C=-GU2Z=%#
MQJHE\2+?PYU"WO%WY@K#:5FU;4F1'0]#4^ILM+EP8$F1$JWE,$;-*36M,)_U
M^W=JTD:R'S_0+%E7_P!Q.D@A0/\`:I)2G?U[1Z:T:8WC4*T[E/DTZO#E15GT
M.WKL=MQN-_X/CKHWIM<''(&N2T%2:)E\\P.QR2527>,V3-'D^-33*I9_M*'N
M1WT+395<]U1(=A3G%]P[@0SMT&O$^YP^XN!-:`]/C7!=NC)V)2X'EDO)H]FJ
MUAH@7-+/52W<=E7>S]>RPP^B1'5L`Y&DQWPI*@`"=^G35AL4S=PA-O%43QBK
MM6`H>1XK'0?V)=.D%(<ZA`/85$;#N/7;4ZZ>RS%9B*=AJG1?V+16]N(BXL)M
MHN2I`V:"4]P/4[=Z@=D_QZ\+[EWN:[A;;6VK2,!A13FP/9"'FE*+&AQX]-&C
MFPDICL[=T9#CC:52+!XJ4^XXZ5CW.T=`#ZZN_9^U-,'J)F_KA55SN-M&TM=J
MKW))\GPH60X/.2'TNPXKE=?+>:(4TMBFF-V;R`=QWNEN(KM3ML5[#?KKZ';L
M9&!J&"\ZZ-T]P)8Z:.U+ZM*918LTNK/U<2(^8ZQV]B9,=J2RHCKL2Q(1_'N/
MAKG>/8Z0=/R@*Y<+@%IBI0#&I6\0CVAV=Y7LHG<[_P`XE6W\"=]M1%80W,\;
M:.I]O@O=%R.)JC1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1
M$:(C1%:?_N2_X/\`5&B+D5Y=_P#I*_ML?^4.7?\`-JZT124\5VU?UH?/YSIV
MGFW`$^O7<<*8.?3^/1%-^5_@DO\`W)*_VAS1%$3P)_Y,.+?\+.0/\[K?1%,+
M1%SM\U?.[$O%/(\;PF[XBY0Y+GY#QYG_`"E.L\`52L0,2P/C]-4SFMI92[&S
MKEJL8D*U;<;B=7'FSNWN=DZ(N27C!A/@AQIR!`\L,>\RU66"S+_(.6L0XZSR
MML(LC&,^RN++N7,@OHCJE)IK#'::T[%2E#W%P);C2G`V-SD,ZAT<UTB%9`%V
M/R;[@?B%A$:HGYMSWQ]!I;K)F<,7FBY,QO#_`-ZY46-,B04794[6L_5MV<)3
M20LJ<1)!`^7KCU(MSZ?*JVNL6XX+,C></C#,RCD/!Z_F3!XN6<1U-O=\B5,U
M<^.FMJZ%J*[D#,>?+C,5]H]7"2@.B*XZ1[K7Q7L,F+I>/_'BH,$'5#G<B%FI
M\ZO&Y/`&3^4&-YI!RWC#$)TFC-A4P)K5LO*(M@W6-8#%I9;;<UW*+FZE,U\=
MI"5DON)[MDZQ52/1J-&??=IXAX=Q6=)YWXKYBXGRBDJX5O;8%D%;5V>>1H-K
MDU5C5%9)A44Z:)4"Y>LA)0MI:@EE.RB%'8/1:C6JTGNM#-).6'R3A85Y`U?E
M'+IL$XS\H<(AY#D;+G(]7(P"BN6\MG\84]PN'*8F-W#2H;$:6ZAJ,XIT(=6M
M;R4(_9A1ST?3?JU[%0S3R3NT1GQJ5AP#-)-G1-V.</V&+U+*GGZ-ZHD-.6<^
M.K^\V;!U#O:IA1^90]O9STV&VM?7=BC:;WM3XQXRT(;/N=NR$CL[%D(.W5(+
M@;4$H)[4C;8``?#6>IU?&%?6`>+<=3SU*S_X=%,1HB-$1HB-$7#K[D'@?YF<
MT\\<9^4OA;Y5W/&N;\7&FB7?CWG,B:K@7F2KKK219+8R1$:3]$M;J7O9>$J.
MZVIO?<C7.7]LHHE\5_:+\L9V7^>/E%S9D7`^*^0'EKX\97P+B_$'",*XA<-8
M>U95,:%7Y-?9',=#TNPE.,J+P]KL[U@@=-05A/U*^VGY!2HWV8:V5D&#+5X!
ME^3SFVW<2I7UR7,'5C4->*=D5E=VQ`E)#CC"@A)W!/<!J7;^4]ZRH#3/LI>;
M"L^OK/*LBX`YBM%^97&OD;4^3?(]SE+G+B^,Z#,!<,<*8[42(TJ%C=9C#<=U
M49P+$64J0E'8"CM/=%+CR]^U[Y*\[8+]W+&L8M^.F'?/%_@IOB7]Y[N?!:IE
M\9U<9K(',X,:&A<&P7"+8C);2I.S(':E1W%=7Q5[5A=H/$CBF]X$\5/'KA[,
M%U\W+N,N*L)PG*)-1*5-KIE[08]$;M/RR?-<2Y]$P(Y/<OM[D]/4:P(XI'-$
MOEK]4HF:\L^<UX?D/'W%_&T![/.=\V>R)&&8=63$MPJBOD4#NV>9JZ0XW4XQ
M3^^VM*GV_<=62$I`^8_./<MK9'W%!0#S!6-G^*?GQOXAB<!\*X5Q3&E(O',?
MJGQ=Y!*8!E9/D]S,=M<JRB0Z"E3\RZLYCY6ZKN6L_,2=]M?6RUC`UL?E#&_<
MN-X:W!^"D+[C33+7;T3[:.U)5N4CM`"2KJ21K515=;6EQ.Z2-_[7<?Z>B+TA
M?P"#^.[@'\G3KHB`=Q_8T1'8G?N.V^^^_P`?QU*>;66/IOI6BPL>1$8D)=2^
MAE33BRZZ%LH<4XI0[2'"YW(4D@^@2->9W78+>\MW,B`+W$<$,+Y_TX_,FNN\
M5<@RYUK6(L+)FX$6OL:)MQEJ#],E24IDQ&@SM'?;0GM*@#NE1UY/_P`;]+P4
MVUW&]M*6Y)!!P3<<8R;"CR3-L/'MO45A=-Y7AT5Q^/%DTM=;/N#*:)F'OL(>
M/VL=260"D%MS]5(]>7JOZ?<"V&`./S6UY92WLHN9L7AM,5)!"-DM^RM+"%)"
MG$L2%]JBKJ0LMN!#Y03MN-O37N-L=UV`YT4(MZ'AR62AE23NITJ4I06Z[V@2
M''4_J+#^Y*`C\-CJU6%<=;+J"CW'6TE7SI:=<2EQ/]JX%+422?B"G1%0\RI]
M:G'5AS]FVVA"^_M:]M:5I6VM+B7T*W3UV7L?PT1)6QP+$K2W3?3<<QZ3=->\
MJ)=R*"J=O:UZ5'?8DRZRY,83XLIP+;V/>4I"#T)5W`B4[$8-=ZEK]Q:W0X5!
MIE`'[,)6@`-J("W05^NXWV_3HBO.(*T]H5V]0=]@?3]!T183K#;7:Z^LK:1O
MNH`)*"?3H/U@=OXMM<9I>F*]ZB3QB25HXT*;[D#E##^.(4>??R/;58R45U;!
M8<0NPNIJV%OM0*]A90'9CC:20@']7KKSUSOHMW:2XA>KVS8GW,>IC074X_;)
M(+B^`G+[.;R_>-I1)S6JBPL)J7"\XO%\0BS%)>B=ZGO8:LI\QA+LC9M*^\E(
M5VZFV;^H!)_BQ^:I)F=.5T?^%Q'R*<;D2OMW*!QFIC,J7$>9-I"_;-N+QUYQ
M#U@IHM+[U+*MU=J=STVUZ*V(U8JNO?V/B%L<6NH-U3Q["JA.(AJ4B&R[]--B
ME3<5H-I"V9@[D)0!^L!\QUPO^'VXK-MDEHT"$=>W<DGY5=P&_P`"=AUUP@_;
M^*FNS5S7=M-0KE58&86*5MA"5*0`@C]INH@!O8EW<[=!V`]?AJ#NALM.%**>
MF>P)U/[\<PNE1,?]Y:5,;Z9/NM+2K'*T1FTGN3\Z6]]S\1UUY:VG$'6?:>;2
M*T[\$2NNK^6V^]3TJ6W;1('U*G%;Q(["AU2M?:4IE@=0G\-NNO,-OK[<[OH`
MG.BRLBA;:$4-/.M*]\J;7+EO($IZ6HG=$9"NK38WV!!/IKZ-8;!;30,$XK*T
M"N&-5I=7.F'37()O>4)-27,9K)4^L1:L62Y-;2/'W9-PB%LIYKZ9AXN_M2H)
M2%`!6_KKTT,5K8L].R@>X8+PEW==2;3S*QV,.R9ZL312)<:#3W3X=M88;?LI
M=-&2XE=A11Y:0R1&<24CN*`?F].G793[1/7`8CQ6F8T1PKCQVVV&0IMQ#B&F
M0EMH+6ZE*G"&T@`_`#42?S#N5XW);9?ZQ_B_TAKBME3HB-$1HB-$1HB-$1HB
M-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$5#B>Y"D[[;CU]?3KHBY!^7S
MG;]RS[:Z=M][+EE.^_\`;X_:M[^GP]S?^+1%)3Q9E=ODSY^_*C_X]G'KNRG.
MU1]SA7!1V@=O7;X?B=$4Y)7^"2_]R2O]H<T11$\"?^3#BW_"SD#_`#NM]$4P
MM$7-SR^^WG@7E_S]PEROR?DE[%PCB7!.0,+N<#HILJA5R`QR#*J'FXUOD45Y
M"'**!)I4^]6K0?J5*'S`';1%%/DO[8KZN:.3>7L>?HLGX6R#&,BA1O&.GP>#
MCV565W=<9(XOB4M+G%C</4E130H=8)1,VN45N+W"QL#KI$XMD:X9@K+26D.&
M84-7?L7<A<F^)G&7`V8\VX]@4VIM,JON0,7R#%)'(3,*VR//JS*<3NZ*QCV6
M)O-Y-AF.UC-673]3'2RV4-D)&J:]>YUX''FLO<911^2DQE?VD'54^?64WE6R
MRY;O'G,L&IQNCPO\JNYEYGUACE]7R6Y4VW;C2V*V?C;`['9:0IM]22ZA*.MK
M),]TD49(TTQ^:XUE@!Z&1SJ*IR^"/`;D"U\)>1.%O(R^Q_#>8>4^:+3G)C,,
M3KXC;>!9O5Y%47W'=G8T0E.TSUI63:9HJAL2%1W6UN?WPM9[A:2VUL&`Q\L<
M3B3R[N*@S;G=1G%S:]P49KW[;_-OFKGMMY0\K^1N+*S-C#4\-X",7XSE5N"M
M-\?<CT.3M9=94,W(I,NSIY]Q23&I$%<E<J87@MI\,I&T+K2"M*4[ERB<;D5E
MQJ>Y3'^W?X+Y/XZ\S^5G.N>,(B3.7<]L(G&^(-3V[-O">/(,[ZA#;#D-@5U5
M"O+Q^5*A0F)+_P!#%<]AXJ6.[7.1YF9H?Y:]RG16-O$[JL'CRQ-5V"!^H[W7
M&UH<6^T^I86M)4MA/:V!L>B`/5/H=1NA'V_-2-+>05Q*0G?8J/<I2CW**CNH
M[G8DG8;_``UT:T,&EN2SEDJM;(C1$:(C1$:(J0A&Q!'<5*=4I14H*/OC9Q.Z
M%)V2?@!Z:P0'"AR1>+;0X5E8"_<90PL*`4"TV#VHZCN(WZG<G<@?AKGT8^2*
MEQL%L;+0CL2E`[DH[CL"D.!6P5[J4$I[M]^TD:EV\$>DX<46"&.\)<2^&W$H
M+:'63V.(0>U*D(42K9*T-A)!W&V^VQ.^N_0C[42/SK*,>P?%<JS'+L@;Q_%,
M8H[VWR+)I)"X>.5-551I+MPH>Q*+3;49"@H]CBE=OHH]-5I@CKDB@C4\_P#/
MGE1A\/*/$RNQ?$>([N.B13<T\O8U;3G^1H\V2MKZOC_C%EVNLWZ=YIE]+4RQ
MDQ7'BRA2&E)7L=7V\1:20:C$8\5@]B<_&.%)?#E?8YM;9C8<B<K<@Y+5_P!(
MW)UA5U[8OG`Y%IT44"KA-E6,TL.$S[+4-A9[5!2EDJ).OGE_M]M>;FVYG#C*
MTX$$@?(*QLSDI;?F=:W'*EV52V64/-NI>L6$*9>]UQQP%M4D*0F*@G=*MB/C
MKW,4\AB;CP7&]PN".Y1.M/+^N?M,A@\>\*<T<PT&*7<_'K_/\#I*Q[$XUE!]
MOWH]*JSL:RSRK\O"E)?,&.\AMU)3[BAUUV;,\N`/-15@M>8D_(ERXW&OC%Y)
M9<]$VCOM6.(U^$,1Y@([@_-R2V:1[?Q/8D[CTZZEHK,[RRR3!X;=QSOXX\P\
M4XTR9,FPS6$W7YYC&/P8S"GG)V0P\3FV&1,06QM[SC3#G8.HV`)T12NP'DK#
M>1\6JLVP[+,>RS#;QN.]5Y)BTYFVKULOP8DE!6^TXK<E;YW#B&76B>Q:`I))
M(G!+K(9:5N%*4D$JW^56^^R@/@"-M<>A'75CJ[RB%H#B5(5OVJV!"20=@0>A
M'4=1J7;?IR`CMS76&9\#Q)'34.8JL>1'0XR6_F2@!0<="B%--%.SB@L'=*NT
M=#\#JFWB6:A,5`>X+#Y722=5]-=>2CER%@LH74/-:"QFU.1TALT%==%^JAN,
MWZVU+L+"O]@-R8;*6DE:?>1M\RMMR2?E.ZLOY-Q$Q_P@8##/DKFVO'/M],I\
M0P&`&'XE&$<@6;]S3X=R0[3UW("VI-A5BA<=_*LWID/O*%AC<%4EY34V.G94
M^,\XLM(^9KU`'I]JWB[MF-8YS1CR"I[EI>X@<_HI)A:"H`/(43_-`VW_`$#?
MJ->[=<Q.%8SBMY82P5`P5S68GO>XZLJ*"PR&0A_EHC7==D:(C1$:(L>4D%HD
MC?;<`'T._P"(]#MKA=B/TSGN\XRQ6`Z)D@=(*G@N:'DUQSF'*?-7']1BTU3R
M\-K6,@;A($(5E)*N)DJN1D>5O3T.26XS7M=D40-I)/RGH3KY\^RCO;@MDJ6=
MA(^Y>QVSW`RU'@(`[@5T!Q7%(>-4]!2P.Y<6J@0&V2ON3[CC#04MXM**BV)#
MY4XI._J>NO>V]K##$QK`:!HXGDO*3R&6=\AS<\GYFJ6*F$K!!!<4ILM%;JBM
M:D%SW>U:R05`*'3]'34UKRS%N:CR1ME;I?Y4)9+82#L`D=J>WY?E!W["!LDH
M!]!MK63]7SHR-K,&Y*]T^"4I_P!B`D'])`^.L-#&#2!]5N22O.FLDL(H<N],
M1BM/,]KZ.2F0HHCB,_[JDDI6&_:6%]A&Q*RDD)'Q40->0WS2QIZ1.7-289'/
M=1RC%C=A,'-7+=)53$5D%>'8+D<4O+;++ONLVE?-G1R[T,A,&M:;=V_N+GX%
M1UYGVWZZYN;B%A\!8*X=I5D\VL$)EF!K3#%.R,@QO%_H:7WQ*MK1<J`R^6W+
M(2;:/NE;DM<=1="E.$)'<.U*1KV6W>V_3S^IB:1+G4XCY9+RW]=@]1H)\"12
M\NSB_P`<DX]45B(N=07Y4:_AN!IIN@BA$YZ!805=JN]R>V&BA.YV42->XM6L
M@/4=^\1XCPKW944&_O)Y2X1$:2<,."2.--91D%I`R-RCR-K.(]>U1S\@M*VN
MB5!?KEA<Z-#3-;7-<;2UU#Z.U3YZ;]-<KF&V>[U`KUFY8FGRR7FX(;F7<&";
M&(DUP[^*E4R5>T`TZXXTML./+<)2Z5OA)W)Z%SN4@[J^.HO6D7K&1,C\JS&0
M%*4X1\VR$]">T!(V&PW(!Z?QZYO<7&IS4^(DM->:RB=SOK5=5YHB-$1HB-$1
MHB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$7A]#_`?]+1%Q^\O0
M#]S#[:@/H;/EK_V.-V[@_P#9(&B*3/BTPTKRF\_6B@%/]-?'B.N_<$HX7P?M
MV5Z]-M$4XI7^"2_]R2O]H<T11$\"?^3#BW_"SD#_`#NM]$4PM$7FP[PO8=X0
M4!>P[@@G<H"O4))&^WIOHB\]I"NG8CJKN'RCHO<*"O3HH*&^_KOK=E-8KDF>
M"LO14H:.Z4*2"L!.P(_;*/N[)ZC]IW'N_'?KJFO&.-T"`:5Y+.EW(K!=:"Q'
M;W[0WLVP@'M"2`KM0TGT':DJV`^!.K%Q`FA/"F/S4R!D9A?U"`ZN%:#Y542N
M1,NH\=Y^PC"9=]9,Y=R)C]E(X[J&FY,BB4_CC?UF0N7(;:#<9J<AP;+2YW.+
M2-_F`UZ&:2#TXTN9J["%X#>S/U"(&.=CP!*DMA&+U^$XS6XO4Q_8@U#+,.+!
M:2Z`),@>]+=#SO<][+;CB]N]1/78G<ZI'<5<V#7B-NH$&@X%+/Z8-]?E("BK
M8?VQW^?;<_,2L]?7J=85V/+VJO<[;;G;\/AHM5YHB-$1HB`0?3K_``==$1HL
M@$Y"J-*%8((-#FC6:%%0X\EA/<LI`)"1WD`$GJ`-R-ST]-81)VRM41VG%+>B
MM)8*7I*),MF(3&Z[I;4^D[+41TVVWVU)A(#:DT6S&/D?TXP72<@*GY#%4U\A
M4M#+Z/R[Z.2E#L4-2OJUJ9<V6VH/,;H<[FR%=/@=2`YKAX2#W+6;_;NT7'Z;
M^3O"?D:%,+Y><49-S?XP^0O$.%&%7Y9RCP_F6&XTJ8E#D#\_O*<H8^M;>!9^
MF;]H)2%CM!41ZG5:7-KF$2,\#;%YWQ$X*QQ+X:GX'QY58!?N_3)9$;),"5%Q
M"Q=AQHY;48S5M5/**4``H*01LH#6KGL##4C+FL%-;SUFO-V=\Q-\'<#9CC'&
M<+C^CQ;+N9^1,DQ6/G<F`WF5A*@T.'8IC\N740*JWG04OWCEBI;KD-326PG?
MY=>%G<&7P:\AI)XX?)6%MAC1*JC^WMP"JM<=LW>5LLN+J586%QD%YRWFP=N;
M*\<7-L+-N.BS9C0H,Q9[FF&T);8;7[8Z)UZB)CA&!0KC=DNG+N=/N4O<!P#&
MN,<7I<.PRM%/BV.0F:NIHFMUQ$./!#DF1+F`?6292EI[G'%$^XYU423OKLQK
M@X5!I51DX*U*<`"U%:0>X!74!7IW;'<!6WQU/1:VQK8MG#D0Y3+$F.^R\V[!
MD-(<B2PXVIHF8VI)]Z.RVZHEOT7W$==$4#7/%BT\="]<^'5;38G"?L)'YOP?
MD%O:UG$^9P[>09MQ+C.(^O5C.6IF/N.Q5Q4-,K"@AT;)&B)PN,>;.0;'DP</
M<S\?5."YY=8T[F>%QL:R5_(J.QQNAL8M+=+0Z]&B2A>T@FLKD-%)94'4KVV4
M"2*7K2T^WN5IW4LMIW4-U.(_70G<[J6GX@=1IJTXHKGJ%)/5*TE*DGJ%)/JE
M0]%`_AK!@9-YT6#*B,/)6>P%[Z=;.W;\JHQ24*0>FQ!3T[?PZ>FH%]LT#XC*
MT`FB"5S7!F-%'3-^*HMO;5.55ZV?SS$G'[+$+%[O0_B<MQ"6K:+%B@!F>Q;Q
MFPEU#X*64'=H=VOD^\=:TGTQM=0&N`//N5O;LB?1SW-![:(IN9*REO*K&<[B
M2\8ML@?BLX],=4)>)W[CL,)2FLM.Y4N++6^?[F\H#O\`TZ]/M>Z,F(!>VN'$
M*;=0-J#4:*?;!2'AR2X51UJ8,B,/[[[%N*/<YLIGL[SMMV>OX=->[B,?3#M3
M:GM"H96L:?"0?BM@"#Z$';UV.^VI&A]*T-.Y<5[K5$:(C6"0,T6KM)"&8T@K
M<2PRU'EN29:B.V(VTVD/K<&X"/:8<4ON.W84@]-4>\7+8VAH<,6GB%.M+.&Y
M:72N:"#3$CEVID>'D0,AD93RK&<#K&?/%5`%G=TXQC#2ZVE<;?.ZDB7(;=>2
ME)V[U%0ZG?4'8X.M/J<,*J-<6#8B>FX'N/\`%2"[6T$!E"4-H`2TE``"&P-D
MH3V]`D#\.FO5TI@N0%!1>@D=02#^CIHB"HGU)/\`"2=$7G0=3L-_QU77,SFS
M:&@DT&2+$<*@M6ZBD=P3ON=@5=0`/BHCT'QU%EN3&PN>"W#CA]ZVTO.`!*1\
MZ7+NI#];5!+<*"M/YG*7VAV0&U)<#3"5A19?"T@@`=W37EI[EMXT]-P?W&OW
M+O!%(UU2UP'<4E[KC3$9K=B]9Q4U[KM%-J)MK&^MAV;^/6+B9TMEN>W('LN-
M/(*RI(04[JZC<[V7MEOI+F632:N:!EV]RZ;FP36E-0`%<:_>M1Q3A>,0*JKR
M2,TZW8/M3%0)DAQZ>X($N;(<C>XN277');C(25N;E6YZG7T2"_CT:7@`'/&B
M^=Q[5<R3]2-KG1US`)'TP3ETF'U-+:W5O`4ZNQR)UIRP+P44,KKTA;*6%+Z-
MM_%('3N)V^.H<]QKE<YA\!.%,J?!>EM[44#'@X<TK=DG8]H*NSM!VZA(]$>F
M_;U]-<NJYV!R5M)M]M'`9&D=4##)>=@.VZ0>U(0GY?1`]$CIT2/P]-%6T/)5
M!(2.@`ZGT&WX:QQ4F'!J]T75&B(T184Z9%@M%^:^W&BMI4MU]YU,9AM*2@`N
M25*`:)4H!(V)43MHB8)7E9XZ-S949[FC"V7X4EV%)8<NHRE,2(ZNUUI2E1D;
M]I(_AT1>+\K/&_N5_P#%GP8C<['\WB'<;]#OWI^'Z!HB\'E5XX$[#F7!R?P%
MK%)_L+T1>_UJ/'(>O,>$#_WZ1O\`W?1$?UJ?'+_SR81_E2+_`.[Z(C^M3XY?
M^>3"/\J1?_=]$1_6I\<O_/)A'^5(O_N^B(_K4^.7_GDPC_*D7_W?1%X?*KQP
M'KS+@X_AM8H_]ST1>?UJ_&__`,\V#?Y6B?\`SS1%5_6H\<@-SS'A`'KO^:1M
MOY>_1%X/*OQP/0<RX.3^BVBG_P#*:(LEKRD\=E)/;S-@*-C_`-WMXZ.[IZHV
M"]P/CZ:(KG]:/QW^/-7'`_\`?VQ_\[T18:O*OQP0YVJYGP1"N[?=5M$[0-_U
MOF6-T?'?\-$65_6C\=D=5\V\>CY0K]K:Q&D['T45`J.Q^'38Z(J'/*7QU"NP
M\SX"XL=Q*(]Q'<4D`)W*P0@IV[A_+HBL#RN\;TI43S7@S:4*[5[W$5*4**BD
M!1['`E14"-B1U'IHBJ_K7^-P5L>;L&!"MB#<11L0=B#NQTVT17E>5WC9MLWS
M7@KKBB$(2+F$O92CL%E*4))2@G<]=MAHBYA^2'*G''(WW*?MK2>/\TH\Q,*[
MYB;E)HI#<A3\F'BEP](84EH$-,MMK"M]MC\=$4UO%UUO^L]Y]K:44%/-G'*G
M&U$$+6OAS!G%A+^W;[92OMWWV&VVB*<4K_!)?^Y)7^T.:(HB>!/_`"8<6_X6
M<@?YW6^B*86B(/RI[CZ?C_+\/7X:(A9#20MPA"-BHK)^1(`W^8C?8[?#UT6D
MCW,87M\P&"3>1Y/2X^RU^9SVXSDE]4=AKL<=>=?:;]]QE#3*5N%Q+.ZO3;M&
ME*9JM.Y7(X&J0MMG[AC4;N(1Z_*A>K9<4ENP2$"E=]QM5A&;02M;[4EO8;E/
M;V+!]=19\PMVW$EP*R#$)$U_"TJ3F-!R9FF?Y9DN8XS*NI-/$CLU=9C\6%;Q
MPPN@;KOI7%M1&T@`NI="W"-SL=<,%O5228V0.@[4%([-MR.WU`ZDJV`_'KJP
M'E'<IPR"JUE91HB-$1HBH#S>XZA6Y"0D[CN4H]J4[D;;J4=A^G1%XY)93N.P
M(6E;;92GYG/<=W]MD(2-U..`$@#?<`_AHHEU+T@T]JMLS8L@-EEYM8>25,`*
MZR$)[2761ZK;2EP$GT`Z^FE%*M;D4"L_F4,N/-(=]Y;#2GWA'2M]+3*5H1[B
MG&@MKM45[I`)*DI40/E.N;IPTTQP71YUN+N:NB4VYW(:45+2V5JZ*"6QW!"2
MZL@);[R04[^HZ^FC9PXZ:YK18!EET(;0`\I\A+2$2`EPDI2LJ0E"'%*]M)^;
M^:.O7IKHBY`?=V',L#B.CR3BZNN;&AJ;*3*RG]TZBQN+QJ0T6TTUPW2U%G%.
M80FY$9^"N"X4AAR2F7N4MD:I=WNY8&AC!@15?5/[9?\`CL=X^XW?3UVGPUY?
M(\4X/VU)?/K_`!#.RGFNHB8O1Y)9PQQI2/F\G9%$@IADV%SE,2]7[T$6W5*(
MX4`RH[)':!J/LFX7#B00:'!>3_N+N?M>Z]PZ+<--'<J__*NFB'$,I2^F/LTV
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MS*;2M>-Y`?IK_%<AI"IHY%AN04LM0E1'7F.V:Q&=:5^SWT1)'A7EKDAGE>Z\
M>><8>*+Y3K,2')&/Y1@,:?4XAF.#N6[5$XTS5V5G,EU^1XW826VYT1*2UV/-
MN]W:I))%,9CWU#N<0I""E*DE1&ZNXJ`('0[?(?Y-$61KKJ_2T]J+"DQPXEQ"
M8Z7`^075%21N1L-SN=SL!KR&X[9)<%U`<BL@^(53<7%!4J:DB15M6%"M:HTZ
M"XVT/I7'&U!4RJ8>;46PT#W`A:!W==QKQEKLK[%^LBG%6DLXG:6A-Y@.5OU'
M(TCA*=]9--+B4;(\;RF2XMD6E!(=26*N0TH%$ZW@=Y#CB5E0`&XZZ]/;7S2]
MD7$8JM=`6?J4Q."DDRXEUM"DH*4E((7M\JP=_0_VR2-B/4:^A,N&^E#ZX46A
M5W4%KM;=7-$#71GF18L^.Y)97$:=6VMTI0X[%4D2XR%;[.Q5+_8MRNX`(]SY
M3N1Z[:C7&+>Q%'&ZAS.6LKN\6D3GE<?8VY'I,B@17W83F5Y8XU[[M1(GQU!V
M/CU=':0I]"3[RWW2E7R]->3OK$W=PUPR:%E/I44<*LA0JZMB-PZRLCM08$9"
M6FDL18R>QMI+3/[)"4=0.T=0-_4G5YM[?3-HL&@RR2C2`E(2/0``?P`;:M\\
M47NB(T16WR`A&Y]%;G^#\=0B"+LO[`C?,DMEUBY$I+*1$*E/H9#T9#22X\N0
MVH(0&FT@J6ML'=0'5)'77E?=.X`1.BKBYI'S%%=VI''.B\H/8@1V%(EJEK>0
MV9;[ZH[+;[SR?DE^Z5=KG>X"V.TD^ZDI]0=57L[:I&QTIB5TN;MA%.62U&76
M;,A@8D9Y8GYA'L(4*0V.Y;<6*$BQ7[A!:;0D+[!NH%1.PWZZ^DV>WNBD>7"E
M0%YO<KJ`6<IF(&&'S6_HJQFLJZFICK4XU50F8;2G@A"R&_B4#;8K_6V(WZZC
MW5JX5&-"M/;^Z:-FD,(K2I%.Y*;8C8$$'8=#Z^G^KKM"W1$UG(+:VE=/`R5_
MG<*E&NJ[(T1&B(T1&B(T10)^Z$]+B^`/E+)@R'HLM'%]FF-)BNO,28\A$J')
M9=0^RM*V6RN/VJ4D%8"NGQT1)SQ"\6_'F\\4/&JYN>#^+Y]K:\%\7V-C-G8A
M13YDN=-Q"JDRY,J=)KQ*FOO275J4Z]NZLGYB=$4C!XD>,@Z?U?>(R?[;]QL=
M!)_'<0=_71%2KQ%\9""#P#Q-L?@G#*/?U^'=`VT14CQ$\9$[]O`/%`W]>["<
M>7_)_>'31%[_`%1O&;_S!\2__"-CO^(:(C^J-XS?^8/B7_X1L=_Q#1$?U1O&
M;_S!\2__``C8[_B&B(_JC>,W_F#XE_\`A&QW_$-$50\1_&0>OC_Q&L_B<&QW
MH/P_P$:(C^J/XR'J.`.)4C^U&%T2=OXDP"D:(KZO$GQAV/\`\0+B173]7]Q<
M?V/3H.L`:(K/]4CQD.W_`-[]Q&CKU(P;'O3\.D'1%E+\2O%Y03W<!\4$@']3
M!\?3Z_`_W@-^NB*D>)WC,CY6^`N)NP>G=A=&#UZG<)@;>NB+36?B7XP^VX^C
MQ[X>4(B'9;TIG":1R0E$="GG$H0W!]U;O:@@!/4GIHBY;<#0L6\XZG+^1O&_
MA+Q;X?XYQ;-;WCY47E3AQ-WR586>/S78,^3<8O'ELL8[56KS),59`>?;25`#
M8Z(L;G#&_P"IM9<9\A^1'C_XU<@>.F27=QC?*>;<6<+LUUQP;/DP5M8KG]E3
MSYKB;?$'+=KZ:P<.[T4J:4VDA2B"+I[B/C;XEYE04F447"?#]M19/`C7]=+:
MP:D5'M(-RVB;76+*WHSKBHS[3R7VU*(_9NI.P!&B)1)\3?&0M!U7C[Q*OX*6
MK`\?2M:O0J*%00L;G\1HBI7XG^+^RT#Q^X@[RD(V_<;'B6E.GL;6I(CL>BCT
M'>-_AOZ:(N:7D/Q+QGQ7]R?[<J\`P+&\.DV-ORHI2\7HV:AEZ/*Q*Z$IQ;,5
M`!+C:=MB=]$4T?%L>YY0>?@]@I2GFOCL!@IVW:;X<PA7:D'U"VQOM^)VT13H
ME?X)+_W)*_VAS1%$3P)_Y,.+?\+.0/\`.ZWT13"T18$I0")"G'"TVP&2K9!<
M6KWE);;]M`(*BIT[?HUFBD2P"*W;/J!U#)-K-OLFFYE98YCKU+7-8Q$HY]Y&
MMH\F5(LDV[5@MEV&8C^T7Z=ZO#:@HDDN@]-CO@J%%*)<QAR6BHN(*J+E>19U
M=3LAR+)LAA)K/KK>>$PZ:B:6'F\>H:J*E$&LB!WJY(0GZM\'M<64]-%TT0_X
M11.#BN$XQC+]E9TU)"K;*[EF7:RV&RGW75(]M0AM%1;A-=@Z-H`0%$JVW4=<
MI(]9!KDN<D3'4T#2$KU)9!`/HD!*>XDJ[1Z=Q!&ZOTZY^G/-<^@>:]#S7N):
M"Q^J.OX=/3;U.I`%!120L@I2!N%;G\-A_P"['645&B(T1&B))Y%9BGHKZS=A
MS9;=553YKD6N*/S"4B/&<<4Q`#I0VN8ZD;-)40E:]DD@'?1%\JF3^7_*/)O/
MF9\_<2XSS*KB_/.2^#>.\<Q_D#%,LD1L(S'`^.,OL,SE5F-QG45N/"#;NPVY
MLUL/0'9F[)W4H;9`PKR53NM=,=,]22>4^8?F_''#-KELS,,\O(&12N1*G(KC
MA:T'T'[V\(W67UM*U7XU)JZ\T%=DC:6D,RT.J8/9'<"E;'4>6X$>!%0I^V;:
M^>GZ@;7L/'XK)Y%^X-Y]81@%`C(<^SBJQ7]\L[M,SYV;X:K(USBK3O!=7R3@
MF.W..S6*ZMKX$3-)XK4SVD*3'946G"IQ*CJN<'RGJ-=0.QIR5D^T=&\QEP);
MV*27EARSS=F,+[:^9\S7N>H\/.4^->/,@\D1Q/\`O%52)_(-SB(F?799-PMM
MJ_H<=<ER27FHK[,<*0"?AK:-KXWAY-0%R?"6-+JUHHR\^\T<UQN7LJPOQZY`
MYJPSA+%<0\)[_CCE9='EF4VUAB][F]VNXC\CV5O/EV&4XK!J$H8?<,9B0EA?
MN2"$H[A:PGK&@P7-K0<S1(*OYN^YAY1W">?YD3+58OE61RXWB?C>)O\`Y/6<
M=WE/+:Q2[RK*F8#+\;**29*C>XB'+*FQ%F$LK!W.N\VU,NH27D5'8I,)99O]
M87%U&TT@T^J^PC"8=\YA.)O9B("\O7BE`SD:8,=QBI;NFX4==JF#$=<<=:9%
MBE80"HD(Z:CVEK!8/HX:^[#\U5V=C9;CN;K^>,X9`D'\$MU?.%!P([5!06$)
M[1L00H)(.Z1L>FN!MR237"O)2G`!Q`R!48?)7QNHO(G$VZ],MG'.1,6?>N>+
M.1FZBNM[?"<DD14Q9SS4>P;<C6=?D#9+,R,^DLN,JZC<;ZWBC$4K7NQ%5EK=
M6&7%,_X[<L'F'A6XBNX_$QW,.*>4<DX/S2LH&XK5"SD_'4M,"SL:*,S%BL0J
M:X<=$IN.V%(86\M`40-?-/[AFNZPEN&(_!3H/TACBIW5+:VJNO0YW^Y](T5A
MP)"TJ*>J3V]#MKZ!M-1M\5<]*CW3^I,74HMAJQ4=&B(T1&B*RXAYY00I:/9[
M5)]OM[2KN!`[G-^@Z]3MHBA!Y98ED#:N+_(WC.GD7N<>.&63[]G&(*W&+/-,
M&LJG]TL^Q6O=2D/VHF!;,J+&<2KZB;&96GM*=$4D.(>6L2YCPBISO%'%MP;5
M;D=VDDG;(,>LFGD(FT5Y`<4VJNM*^7)]I^.KYVE#XCKHB<U$A"W5M;@*:<4T
MXGYNYMQ'1:%A2$CN3^@J&WQTX]B+).P.PZC\==FR,&;:K%%KWHZ7(Z/>0AX>
MP[&>;[%=K\=>_>CM2=_<(]#JDWB".2!SV@-P76U!#AJ-5'C(L;E-7L=,2.U%
MLZ.!8Y!@UZE2W)*4-A+]C3V#H5N]$4E':&R1L2#\-?)(]T-ON3H]!=0<#3BK
MF:$7$(`\-"GJQ"\:O,<IKMDJ4U<PFYZ4AQ+C*''-T/\`L%(`[2^A6XVZ$:^I
M;9?^NMQ&!HJ.)JJ>6(Q&A-4K!U]->CCM.E"`75H.2Y<%K+:97PH<I5RZW#KD
MQ5_F#\EY,=J+'="FR^^_[C89A*0>K_>.T_@1J)+<"`%U*T"*/,C,KS.[9W&^
M,;217X\U&D-7/)RG&K<U[D)M;QAXM!?2J+,/8@)3+6M8!)[1OL=5XOA<C2&$
M?%$ZN!81`P^CB4]4X\N#$C%<>3+[OK9<RP/YC*LI8[B5NOS)+J^Y1*R%]N^R
M1J7:Q!H<7BM43@MH]M/;OOU)_#U]?B?CK=T`)J#1%7KN,!1$:RBJ2`=]U;?V
M?]4:(L:2E78\I'[1##)=4$*0'.XG9*2AQ2$!*MCU[OAZ:C7=((#<G'#+N[5D
M4K50X\ON7?Z(.-V;JK@0[O)9UM"@8+C1G/,KS#/Y[\.'04L"-6RF;"R?=D2^
M^8R@AHQT>Z7`.FOE>[0R[O=-TNZ?B';Q[**?'="(4(K44S4./*%CSUXPX6>S
MZIYKPK+<NF7-$G.N(L,X]_)(>*X'+0VG,[/%,B593\K;F8RDIE,/.QE):G'J
M"A1V^H^VK-EI1CR''G2B@W$A(JN:'B9S)Y-<N8=Y>/4MEY%9_P`;5LS!<(XY
MS?F"GNV.4G\F38V3&7/T%J\S":7$QLI9;L&XS9C`/L++Q.X'T:#;8)6EQD:S
M#`47R?W]>7\=M##9L>XR/()!RH!FOHC\6!F<KB?#_P!_:^;$RFJI8M;*:O);
MDVX=#*0'7[CM<^F1-<6L>TI+RPM"AZ'7G=RABA<6AX=VTIW<5Z;V%-)#MAM;
MQCB]PSK^=5)QKL2$M%26R.A0\\W[A))!"2%K0H)=W0=U#M(V^&J?#AB%[#0V
M/P-\HR6$[;UD=X19%C7QYB4J6[#>FLIE):0H(4^W&2I4EQA:E`H64)2M'S#I
MHBK1.]U+BVF2H,.R&GD&1$4Z/86IH%L,O/,J474*"VU.)=;`W*3HBRT.H<4X
M$*2L-.+;*T[E)6VZZTKM)`"D[M[@@D'?]&B*YHB-$1HBY[_=;E/0OMU^6<B.
M0EY/%E@EM1&X2I<V"GN(^.P)T1/GX9`CQ#\7NX[J/`'$A)`V!*L&I%'8;G8;
MG1%)71$:(C1%05*^<(`4I!9^4E8);=4M*W`4MK&S01N1\?T:(JR4!(4'&U]R
MFD)2V25E;Q*D[I4E!0D,#W"3T`]?QT18XDH]U+!'[5:5J"$J0X4)0D+`>[%*
M]M3C:TJ21W((/ZWXD5\=VR.Y/;W))4-P>Q0.W8?Q.QWT1>Z(C1$:(C1$:(C1
M$C,VM6::@N+ANOFR&*ZEN[-Y5<['::<340)LMYE3LM^*GZA0A'=)V2-^BCK#
MCI%5EHJ0.:YJ?;'L:#F#B?,_+Z:[32LV\BLD=?R5NHCC'JFAJN.)UG5456JJ
M:$:`U85BIKS<^6VV3*<6@[G;68B)<C1=N@>:Z&Y?B&(YQC-YC.=4T.VQ+*:R
M50Y-674=+M/(K;1YQY=?;-/O_LFWT+:(4E"^X+24D';722/0<ZKF]FA<P<%Y
M;_J#9GFWB38\9\XY9P]C\2KRCQQR:AJ)V:QXN'9+`L7IW$,6W?*):7,,L&G5
MPC(60S7(:8WW1W'FM%-_QQ\M^+/)[';2PP"?9M7F.RDUF2X5DU8_3952*<:<
M#";2JD]CS*)RF5-MND!IQ7ZJCTW[=$YUP7=\.@5J"**(5W]S_&Y'GQQGX0<;
M\19]R%(OW;DY]S)&_O;C+CN)CL60^]#B+;0MK)G69L-V(\ZRM34:0WV*4%D`
M8=$6MU5476"_0,UIO+-$D_<9^V,V9A6$O<JO=WZZEE[&+\C=>^R0TG9/;U(_
M'IKDMU)[Q84L^4GG[NLE0YJX_`4?4;<*X1MM_`3HBG#*_P`$E_[DE?[0YHBB
M)X$_\F'%O^%G('^=UOHBF&%(3^N"=_3;1$C,TFRXE+;3JU^(W)KZRP?B*E/!
MMEF4B`[V_6*Z*#;3[C*T;`[$D_'15>Y;D8X^@#DF2\8<<Y$J,!:M.6;=K(.1
M,DML@F75O'2&@8#EFH8_!:[$H68<6N4[VA95W*^;]&BD;7^K;E_&BDZE/:DI
MW)!&VQV/\?IZZ*8O0`E(2!T&_P#9_'1%K+%7L!Q];Z&6T1P\5+)"1W.&.VG?
M<#?W$E1_UHT10XQSS<\:,SY?=X5Q;DKZOD=$M<2#!GT=U"Q^[EH:^I5!J<C=
MB,P+&:J(E2VT15O[].X@$G1%,V,M9*%+]TA85V@M!`;V&^SJNX_-MT'Z=$6=
MHB-$1HBH6VAQ+R5C=+Z%M.IW("FW$E+B#L0=EI)!_0=$6`:J,6VV27$L-J]S
MZ=M+#,9;OOHD*>,9EEN.VZXZDE90E'N%1*NY6Q&S?*5SDAZU.-"O?RF#L0F.
MRG]HXO=,:*-TNJ;6XUVE@H#*U-IW`'PZ;#5;=\5WBD]/AD$P_.'`'$?.$.FI
M^6L#@9W354M3D"'*5:-P/S%YR*^Z[DJ*YV-$G07U1AWQWFW6%)6KY?FZ<X_V
MQW*8UVL:N:>:KHJBOHX-+6U]5!J(<2+6PZ>"RPFLB0(+;3$2%$K_`&0PB-&;
M82EM('1/3TUL3@LN:""$G;G!J')ZRZQ^]:B2\=OZQ^FN:29&,%NQ@R(::]]A
M<^"IB8U&<@!37M,N-)`6KM"05`S[(>(JBOYS;#`T3(,5J^*U1,:P9JAPGBO"
MJ9#.*X;C]6PU&B(CK3%?[DH0'/HQ[R7%@$?W))WW!*KZ-HZ3G?S'#Y+R3]_>
M^];;5P(_%2IBO)D,(+$AAQE;#/T\M*P^VX/:052%`+.Z'5$J`W]#JHFK5?0;
M$=&$2C,A913NDH4KNW24J4GH#N-BI(Z[`^H_#7-<3F5:*A%0%@*7LMM)V<"'
M25+2E"65%)!=<=*4@'IU.L'S-_U+>+S?!<J_&F'_`$=9;YK\+V46P8LJ3F^Y
MYIQ^>N+(9D97C7+&.Q<H3)I(+`6OV\>REIZI=[E*0IR,XM2TA0V^7?W!H=TA
MKG531E5=/L=E+ET=7+?+++DJ!#?4R'$.J9+D5HK:<=9<=8<=0Z%=Q;4I&_0'
MH=?0MJ__`(^+_2H4OG*W@Z]001^(]#^D?H.K!<T:(C1$:(C1%C&*S[BI+A<+
MR&W29"4I4\E"5+D)]I"&^Q"F%;]A2G=/J=]M$7/?F/&\R\<LUF^0?#]+?6V'
M2+RQE<W\&XI#CVD//DV,=I+7*..,,I5.CYE2`@RF$E`FI*@D>Z4Z(IC\?9WC
M?*F.U.58;:-V%1:5\9^L4)<0RTGVP9K,VM7(=G0)T.25-RHSH#T=]*D+&XT1
M.&EQ!2"'F>TH+:2E16#)!(([E);)3N/3M!T16RM:DAON*-CT4CHM)Z]03N!J
M!N7_`!'=RZP'Q!(B<V@9'41MSV%J2ZAH,JD*>6XZRM<9*`0/;=#?S`D)[=QO
MUU\8M(!/O<H(K1M?JKX819TP3"^.%W..>\\<7_FD2=1<8Y;60L8A)E,R)M=#
MO53K2;#L'6'%MQBW(?(9;*00@#UVU]!V]WI@`%3W.)[U+0*=(24EMKH`4K&Z
M@H$@]0H`@D=/T:]6V]+K<./$*&$P&7NQ\[Y$8XN6M#M!28ZG*,NB/`JB3F;>
MR>@X]2OCH5QI+<:1-+*NX)4SL=PO;53)/U91'7`K9.[04--618L&LJHE-`JN
M]NN@P&&XL+Z9QLMJ89C1TMMIBC<K"5=R@H[[_#5E:6F2PE0E(3OZDGL&YVW"
M6VTM(0-@`$I2GH/QU9R1=*G:BJUR1&B+PGTW(2"4@J5^J@$@%:O3Y4CKHBU-
MI.1!BORER&DMQ@\KN4$!MU#:4J"TN./L-(*^O9WK0@['<@#1%S*\AON2\9X)
MC^<4O%E9F7+'+$)I_&..ZO%,&R>WPW)N49JF(-7C<',H]<_CT]MN5,1[\E#K
MD9IQ*D=Q[3J@WJZ+(S#V?>B7?!W!M73Y=7<F\GY3D?(_+47#*07N1YW=-SZ?
M`;K)'(;N28]A>*1OIZ_%0Q6-_1E?L&4VVV2EQ.^^O.[7;=:77R*R":KA)Y8X
MCS9_7=YNYOQO'^0GN+5<QUN&5-KBU)R/-S!%Y'X(L&\%,)^OGG%K3AO(<S"Z
MN<U&C..N2NQQQT_JGVT,AMW5I@N<_E*:+E#E_P`E,J\9^1>-)EIS]BV30?!?
M#XBN+<7X_P"2X-=FW*N<\FWDMRVQ5FFJ(^1XW)XZQ*$V]91_JT29B[!OW=T-
M[ILAN<LN$9\042PMK2YFD%V`6@"B7V9\X^;O"_CG2<:1.4/(NEO<&MLEA<=\
MEW_&^3YM,R!C%<2XZM:WBC-*C%\<6';.SM9DR-67$EQAB.8RO>+BRH:B307=
MR22NLT5O;C3;`#N4L?&7R2^X#F/F!QO1Y`,\G,9A=SE>0>!9)@\NFXCP?A*3
M08A-XYS_``N\G0*U!R'*[FQG)L6$2'I"'RO:.$IW.S&.C8(W8N`HNT9+F`G.
MB;/D*SJ**D\F9^:89SUD'W`*#G_*V<2R:FQOE:RA1N)9G)=:K`+!@5*&\+5A
ML+".Z,S'1[ZVVTDN$[DC9;IL*KE+S?XHSC@OCSC[G?F"=4^07EKR1P3R/5\M
M2Z^?D/'MBYRA(RB%EF(U]NANQ323^*X8)GH:7`4J86VE$I5L1?7!5+;4W(0W
M(=DAA]+9=?;]EP][+<H)^G2D-LI2F0!LDGN7W$[>FB+:Z(C1$:(N>?W8DI5]
MN3RU*R4(3Q=-*G?U@@_70B-T`;J[MOQZ:(GW\,B3XA^+^XV_^(#Q($_ZY`P6
MC[5_H[A\/AHBDKHB-$5#G?L.Q2$G?J5@D;?Q$:(HU>2GDCQ7XQ8E$SWEW([6
MIIY4YJCJX>*4UKD^1VMA/2YWQHN+TB)=Q8EEA"GT+896E(:4E93NDZ(H9YYY
M"YIY1YI@G"OB%SU@&+TF9<<Y)E/*V36-#;7?)N(X\I%72F!4UT27!_<7+)=?
M+6N,+EE+C+Q!92[VD:(L/$KO(O!KERZPW-7.8\Q\7,OK\(GX[SMR#D=SG']%
M682*RRJ,FB9+=7:":3&,CEUT:2L.R!'CN[@%`6`"+JM4S&9R?J8\IF6U(99E
M(=8?;D-+:D(2Y'=:>8*XDAMUD[A;#CC?P)WT1;K1$:(C1$:(C1%:[U!YMO;N
M]U:4I*1_<]R`2OKUW)Z>FB+A;CCN`\]\L>9F<>3G-^7X?QMQEG]KQ;`J8',"
MN/.'9_%[5<6;.DN(C+T)4Z3%N)3C<H=R%NF1N5%""#QN#I@>[DU;,\PIS4>O
M->/<9]-XB_Z/G+\:J>,*[PX\KM[[CG'LKRSC$0C`IC'H(E=@UBW%A\E+E2DI
MK77UN22\AQ0W41JLM;O*A4T5XJ+G!/D9Y[XC9^,'&?%+7+BKW%>%Z?"K#BCE
M+"\CM*OD%V=QO*R&%R7)RG*VF5XZAG)()9<B6LI=B%H2"AM/857(D,K:KA/F
M$ZW`O,7GKS73<$8QF/)_/%!!RWR;%+RQ,QW'9M;D],&>.+ZRS/"+#,W:9A=7
MA#N;SFVVWV%]@96VAMP>VHJ*.HK5V:>1-5#SC!,`C<_<F5]MG\^IYXMLNPK*
MWLNPUQ[G*_@XNC&\N_+*JVN,?BX5(;6N0B9*;8;4AQHIV2=6+?*.Y<+BY+6T
M2_\`"7D#GW@_SD\,\0R)[DNUX^YDPK->.),/E*AFPX6!L+O+^T-C27*ZV-,C
M7LV(N.'6I3CR9'<[(6HND$<I_P!OXJMM+@R7>G_*5V0\LUO?])+]M(.14PTO
MV7+#[;"AVO(8?Q>_]D*0%*`"6V0=_BI7H-0U<J3WBPD#RH\_4_`\V<?C_P#H
MMA`_TM$4WI7^"2_]R2O^]W-$41/`G;^K#BXW`/[V9_TZ?_9=<?IUVA`+C45P
M7:`L#CK`(IQ4@<YSRAPR7CT2UDR$6&23'Z^AA18+\YVPFLM>\^V6V?E2AJ,"
MH%70*U)Z;*4H%%N9F,\N"0?T=QG.6T]L]5V=9B%!$?[8=QO$FWUC8%#8:7""
ME-SV$L(0ZA+O0$#\-=M5HV/26CJKSDL1GN2YP!:>:?6''88;(::#?;LH$H2E
M?<D.@*4$]`L%Q6^WH5'5>*.N!3R5Q5W:1.B908,/`*_WALH4H=R`M/N=%$A!
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MHC,JM<L&92Y=HM!6RZ6=O;!2%`^E499.L&ZCI6DQ+65&=4O*'E7CB\N*['*[
MD3$[+*+*+(LX%!"R*K;N[&NANEI^7$Q^5+ESW8Z'/V15LE*U#<:M;7Q@ZL5U
MMO$#JQ3DQG6W6@IIT/-@D)<[NY9!^?9X@E(=3W;$)/:!MKM,T-?0"F"ZS-#7
MT`I@K^N*XHT1&G8L@D9%&M',8[S`%:D!V>*I*$E7<4CN_'K_`&1Z'01Q@4`%
M%L'.:``:`([$=A1VI[=C\H2-M_XA^.NT$43I0'-!"Z-DDU#$T6`4I4ZA+B0I
M(W&RQN`-QL.NH,KG178;&2UO8J^\C9*W]0!P[4W>1PHDG-:&,XW'VG4F119*
M)._TDF&IRI0XQ(:"2EW=#B@-_0$Z],P@6U5XZ?9A/>MN+=H8YHI48<5@4C[F
M.9])Q9A`BT$O%6+&A:;=)83*IWD(MH@*CLAI4>:E24_@!JJN/,O;;?;738@V
M61SAVE/(4A'R!16$?(%*.ZE!/RA2C\5*`W.N*[*VZE2D?(XEI25)4%J&^Q'X
M=#LK\#KK%IU>(`X("1DHG<^>-F(<R3ZG*G;C.,"Y6QF'8QL&Y,X]N)U5D59)
MF-*9CMV,&"76\IIH+\@OF')COM(^98[3Z^3WW;H;V37+&U\C<B14A;A[LJE)
M;Q*Y'N<DPJ[PW,V*X9[Q3GF3\:Y-,K;(2<>R&;C[L>6S<4"FW#[LFW@GW76%
M);4T\XM/8GTU%VO<W6DWHIR2&\^1Y+&>)Q*F>VLI2VGO7L.U/[3M2OT]%I!*
M4K^!`]->GEBENG-FMGEL0()`-*A:K/U*1&B(T1&B+P@*!!Z@^HT14%(0M#J/
M::=27$-NEM"U(7)[0>UG;=\K<2DD=/3?X:(H29]X1<*9U9VN6UT#*^+N09]P
M+TY?QIEN3XE*8NHB'F69K]9#G(@(C/3G$/R6$1EIG[=CA(T1(?&O(_,.$9]-
MQMY<U=G"E2):*K$>;J>ON;C!,O37,IB2).;6%-3*C<<7+L=M+BWKAR/$6L_L
M1W;J461FI\5EG6VK$:54V4&P@SV&["IL(T^--CV=:H='8JV`H/!9.R7$G97X
MZX7;6NLW5`."S-5DM&X=R1MQ.:K\DAS93_T[$&GLIZW5)4M*6X+8EO`I3U(6
MPRL?I!U\CC8(]WD=%X3IQIQQ5]+A9,=Q)I]$VWCA1/0<$FW]I7Q/WAS7)\ER
M"QO(3+2'+^G>R"Q>Q6;/=0`[+>8JG$MH4LGM0@`:]UMCK?2.LUI[U7$!WFQ3
MB\FY9-PO#+&^KHL:WN`[!J*&J^M9BKM[RX?_`"R'7`N](Q2I276R2-BRYMU4
M-6-\YKX@+0!H[,%#>`'D#))?B;!LOH(]I<\DW%/D_(UQ+"\LR"E@?E\/\J82
M55%3%AL=1`KW%!2E)^8]5`;G7/;8VM_?`<\Y$K3L2XS/D;COC.-$DYYG&+X/
M$M750:^;D]O&J&9ENRD.RH\%,MYIV2RB,H*[N[Y?4ZO`2WRX(M/0\_\`"&5%
MYK&^6^.K67#]D6+</+:1YMIH]X2L)5-4XE;_`&GM[=E*(^.MG.<[S$E$[$1Q
MJ8PS*A.M2H<Q'U,)^.MQUJ1$<`4TZVMQ2E.I4GKW))21Z:U17?CV_$@D#XD#
M?<@>I`V]=$26SC(JW$<.R?*+E]<>HQZAM+RS=:#2WQ65<)V?.,9M]UEIY]45
MA78E2@"2-1;S7T?TR0_4,0BYRXGP=FGE5-:Y8\A,HS@\3Y50UEQQ]XYU%W*J
M</Q^KLWY5C1R\H?QFMKKG*+2;0O0Y*@N0\B&XXI"D]HWU+_:M=3\7TS3@IZL
MTV+8#C-92T-5$H\=HH$>JI:>MBL-QH:%!*6T,!AM*%N)D)[_`'4I2LK.Y/=N
M=>#W/<XG/Z3@"_F<2K2&.,V6LM&NIQXI`*Q:'7V]#4+,<IL57.096I;ZOKKF
MQ:@H74+=7^L["A(=VDH5N%%0UZ'V[MQGB,PP`Q7EKZ:1DG@<X=Q3Z0"PIMN(
M([(C(;#26_9;#;#J#WIAL([=FXS1'<E*=@E0W&QU;EC"*D!=+61\@&LDCM6U
M6TTX5^XVE9<[BM1'S**U-J62L$+W46T[]?0;>FMFL:PZF`!RL>G&!J`&H\5[
M[;95W%M!5WAS<IW!<"4I]Q23\JU]J`-R">FN@D>,B:%:Z&',!>+99<"4N,M.
MI0\)*$NMH<2B0D[H?0EP*"7D$?*H=4_#;6BV``%!DL;=]*NY02VL)0V\HJ2A
MMF.V.U*@7`6T!I/IN-AHB;VUXQX]N,SQ[.;O"\>O\VPR/*AXAFDZN9L+ZIAV
M'6;]#:2&UB*%$]OR$*"5;#8:(G*:2`%+W;*G5%QSL1VJ[U?K%T[?.L_CHBNZ
M(C1$:(N>/W8RI/VY_+,H)"OZ+IWIU.WU\'?IHB?GPSV'B+XO@;;JX!XD41\2
MK]Q*/N.WQ/3KHBDGW([NWO1W?VG<GO\`_6[]VB*AY80VX.Y*5J1VI"EA!"G"
M&TJW_63LI70_CHB@7YTYWSUB;G`N+>..78=BV;<M\PSL'DR<VKK.Z@HK(^)7
M]VU^6U\)AYI$F+/I$27R\`A4!E]`W*]$3#^)7C]YM0_(3DCG+SHSKBOE.93T
M<;!_':%QC#75,89C5PE$S,+JW@RX;,"+;9!&K6UM+<2I2.XI2021HBZ5X_A&
M*5-M-R&%BN+UV5W3(9N;VLH(%=96=8EU#["YT]N,B=+<:`05!UQ7:I.XV&VB
M*,GW!I.`*\-^<ZS/VYCE#F&&/X5%JJGVF9EWDV4RWJ;#J>')<'TU;^:W*&PM
MYPA#7NE9(]=$3E^)CV8,\&<=4G)N28/?<H4V)U+&9?N!/KYM!#?"#&A1V4Q'
M5JBJ;CQT@HV"5+*B-]$4E00?0@[>NQ]-$7NB(T1&B+S<;[;C?IT)`/4A(V'K
MU40/X3HBQW5%&ZFE=J]P24D;[H/J?]AL/X-$7'WF_ASPQQKD9CCWB?QJX^Y=
M\CN<LAO>46*Q#4&_PO$\KQ.1&CVO*7*,YVU548W&I+&[8:,9QLRKF2X&$@%)
M*<.:UP+7"K2F62=#Q(\>_,+C?D*SR?G'D/@]&`3:"Z=@\4<$8`WA6.+SRZLJ
MZP_>6Y8;B%EY^#6-EIO]L-W"3L=<FV\#?*QH^"VUOYE=)68S_P!,RW+0E`6Z
M0MIAE:GO?EK#*'B\D_*PGWE*<"CU5VGT2==0T-R%%@DG-<C(O$OW2(OW0[3D
MM//N"R_MP2\(1'C\4R(L%[)(>2.U[-3#II<9BF3+<MHUHIRR=DF:0J,2@!).
MVLK"ZK7QNV:N=^2MQS?.U<]%4N4VD5R9LF,#"_,H[Q>3V+F-M*7[G<D`?'6V
MIPR)6ACC.8!7,/P`XNM\XB1?)SF/D_*N=>57[S+,.JU98U4P\>XJ;K,GN:W+
M<:Q2@KJRGC,MJN`][,DHD/?0^TV2GMZ"YQ%"31:M@A8[6QC0_F`L?R[5'7]R
MK[:WM=?[^Y5<45?K>Z<.NP2">O0ZU752*\75K'D]Y\K2ZE)/-''A5NG=:C_0
M[A.Y"OANC;1%..:$F%-"NB3#E[G]'T[FN77BYKKT)>2ASX(MMM^-F)D'=1RG
M/B/E)/:<OMQN>AV`)'4ZDVLC'O(:>"XSA\+-1%%("[C1I?(N'/K:+DJ'6Y0F
MOD;?+"FJ3`:<?W.P*76$J;!!V._X:FX4[%12F:Y?H@\3OE]Z<93/:&PT@);#
M:.Q(*3LDC<#?<CXZH+@7GK'Z6UAK@:C\U/MK5\;0)Q20#$8+)(W1M\2C;X>O
M;Z?RZL(C1E782!7#>B(R*^*BP'67E-K]MM*W$H<+2%J*6RX6EI3[G8=R@%7I
MUZZCW)FD\N*C+Y]/.;[??E+S]S5YAYSQ[DN58Y@6<<:\!XU08'2S:!NHY^F8
M+-?E9#79Y)FS:Z5"8BI=+2/>24.!70[)Z\K1LK`[JBF."XS-<XC2%&[!O`OS
MGP>Q\K,VOL!R+/\`,!QIS/B>-XM+RRDJL(YOGYP_;2^+8@AU\Q4>ZF857V<:
MO<D6OL*BH@(;02@[ZF+CTW\EH\+^WWY;5G.OCO>L<<<Q8UQU0\;^.^-84Y)R
M&@;ON$+_`(^DF;RY:97(CY#.9KY6:6[<H28E6)S-I!DLDK9[W&D8E\0-%+&`
M4_Z;@GG[@_[@'DGRD[XX,>2/&OE3<8,,%SINYQA;'$+U'&+&1UN51,G]VYI:
M",ZTF36B(MQ'>I:4MI*AJLZ$W6#M/A^"TE!+*-%35<U.9_"[R@X#P6[YIJ.%
M9TGE2F\;9,/`<QQR\1=956<VP.9F9=+3RGJ]W\P;%O1VR6&7&F7HC3#0]WY1
MTM+3],'7@NMK^F/'@OIY\9>-9O$OC]Q/Q]9KL7KR@Q.J.2.6LA4J><DGQTV.
M0(?D+>D*>+%O+>;"BXK<(Z;#9(Z3/#WU&2Z3.#WU&5$_JCN21_HZ:Y+DJ=$1
MHB-$1HB]'KKK"X-D!=DLC`U6,^@+6I1Z)!W!_3TVZ>NH$T;W7(D:/`N$S7.;
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MQ`5R2&G4I!45=Q[/<;+8,8$A1E-/#N<:DMA/:GM]0H[ZYO9$W]Z@*[R'H_N8
M4^W!<Q\ZF5WC7SA>'+J)^9Q)Y09U6S<<RNO9=BP.-.854<7&C$R-QN0PY'Q_
M(4?3N09L8AUB<V][R>Q84?'>X;*"$G<(J4/'NP[UB-[9!J9B%T2QRS:LJR"]
M-92B0I"6Y,3N2XL3XS;?U9)1L#VN'N!V`6.HW&L^WMTGE80*F(9GD.:["&4@
MD`T&:67QU[&$==NN'Q-^W-<D:$$&AS1&L(C1$:(C1$:(M;8U[%I#G09T*!9P
MY3(CKK[%AAZNE17QVV$>=#DHD1I@E-?+NM'ITT61FN>'Y9G7AGD5]:PZY-SX
MAW-G"FO45:Y*D9%P#.MXOO37H[30ESKGCU5NKYD(]I%:DE26BG<ZX7CFLMG,
M<:.HLR!TD@+,0IC*M*^YGX]>PGJ^TI;*F7*J["H>#Z)I=:1(<EQ`ER0)];9+
M"&V$A)!3[FY':=?-(-ONG[E+*&5B#,ZCGWJ[D(-HV.M7AV7)-1PK/O<=EY+Q
MKD4QLS<1NK6QC3Y;[;%?;T&19!;2Z>'6JAI*8$+'&K%N&VV=N\L%1';L3EUZ
M&2F%KOU!PQ4/2:564Q98USG?5;ZV#8\9X9<Q;6MG2'U1F<SRNB4\XW(@QFTM
MKM*NKG,,.(2XK=QU7<D%.Y'K=I;,8F37`(@<,#48J-<QOB;UGBD9XX'[L4HN
M8>?^*N#?RG]\+A%CEML\8.,81CD8VV=Y?=2([GMP:[&*M]3FWMH[2^XGVT'J
MM6^^K=UE=27#);9A=;M-2:C`?,*,US71F4'P@5*CYP/PQE7(.3YCS;Y/X!6O
MW&6KCU'&/%&3?19.KB/C")!B?35=MWJ?ISF=W*2IR9)8:#I9(:6M6VK'I2<E
MHR5C_*:I[\D\4_'3-?IV,FX`XIN8T9,H,![%JN,66EI0&F%F/";<*P$]S:DJ
M^1Q(/3U&KFN8:.%%T49YOVH?$VQEO6"JGE2LD//RY<2%3<Y<GT])C\E]PR(T
M.CJJO(X42'5U,T)7$2$=B6T);6A220-42>I..?/;QNKK?&,"M:'S.Q6TL?=H
MI',F;QN.LVPZH:FRGGJ2?:1X[\6Y:;[T)@^Q[78RD>XK??1%G,>/?E[SG84<
MCR4Y7P_`N-)%C"LL@X)XU8-G$N(L:0A;&)YCF:V(B+F!)6V@/]A=2XC=(ZG6
MS6M<?%D,5LQCGG2P5*Z$PK&JK9:FES:Z"N%6QV8V.MS&HR(59'2EEQ]N,DI=
M9@UK:$L!Q24MI;2#OMJ!NVX6;+<PQO!EIR/Y+9\;V>8438U7,'%6>WC5=19K
MB]BBM>>?A0ZV\2'[B;#2XXI$62Y[<:4RR$*/R+5U21ZZ\=!M$E_%U6`FX+CA
MAEP^U5-AGA](8M7Z@))'*JW6?6==46F'VZ7F5K9NHE6[%;:0].G1<D[:Z4B$
M1N[)88:=96M8&R$QOFVZ;^NVENX;9%TKB-S6G#,?@5XZ>YM[RY=#:N#Y&>8<
MOG3@G9K9`D_.6"WVE6RC\#Z`['KU&K!=[.>&@\7WK;?$Z*Y#V.;1IQ7NB(T1
M&B(T1&B(T1&B(T1<]/NPJ2/MR^6H6HI0>+9NY;Z/@_70MO;5ML.OKUT1/;X=
M(<7X@^+C0"$K/`G$2V76P$R$-N831-]NY_NBY#A[3V[['U]=$21O_/7Q/QC(
M;3%+OE>A1.I\E7B%G8QJZ\E8O39"VOL<H[O,X4)^H@V$18]N1N^&&'`4K4D@
MC0F@J<D&.`6AL?./B9=@(N&XMS7R)(KW)4:HEX9Q?EEGB>3.);<(BU.4>S&H
M[""S*`[I#BO9[$E040-]<77$+/,ZGS7=MM._!K:_+\USXP_GV)Y/\]\.<Q<D
M\L+\?^+*.VO,C\9O'^RMJ.[R[D?*>/<9R:/R1G5[.Q1R[:9QJ+4M625-A],A
ML!:5(!21K,,\4]>D:Z<_L5F6TN(6ZI6T;WC\UUJ@>1/!#W%T7F9CD?$9O&2\
M?CY/!RD6<B1$;JI=>FT>FK;==_-$H3#*I`:4PEU,4!90$@G672QL\QHHL;VR
MNT1FK@:+E]]T"S\]>4;'PVD_;9Y7P.FP=ODN%?\`D%E3658W'D+XS?9KKCWG
MV;=\QYN+M53+KLMIOLEH!3WGYD[[@@@.&1%5T8UTCRQF+@<5U#O+KA_D/&9N
M(V&9\79O3V]9*DY#1.9-C]E66-76(;=R1UV(S)D.OU\GN0N65(!@CY$[;[C8
M`G`+1[A&[2_!R@USQXJ8#@E1AO*'AG`XCX:Y_P")LWQ:VHJ-W+&,*P;D*GFR
M'6IG'>>Q8$P,3Z_)JE]Q5;(E-292%MI<8!VVUQ,T37],GQ\L5KU&<U*CPY\E
M9GD'QQE5EF^,XWQUR=QIG=UQYR3@V/Y=$S.OQZTI_HQ6N1K^*0;"#<0I:)$9
M:TI=+;H"TA0('8@C-;-<'"K<E+I4N,D*47VNU#[D9Q06"EJ0SU=8=(W#3J`=
MRE6QV._IK"RJ7)D5HH#KR6@X&_;6X%(:<+J@EE*'E)#2EO*.R$@[J^`.N?5C
MYHJ53X27$-KEQT.=Z![:W4(7N2`!V*(5UW_#6S7-?72:T60"[+@L.7*A!]M]
M]]@1V'E->][S+"XTD.(V=#KQ]IQH$`E*@1\A6C=0VUHV>)S^FTU?R6K")':&
M8NJN%%#F'EMYD.\V4'%WE7@6"O+SVYXPSGBQFFE7$[B#%WKB37-2\1S.#2M,
MY+D^24%6KV7F9+\9A3G>7`L;:EFWF#0\M\)RR6'O:R4PN-)&YA=1N#>%.$^%
MJ8U/&6`4M-<M4E=67V0MQDMY3E2:MMM)EW5Y,[Y5A-F36E2Y`4H%QUQ7Q.VN
M98X.TD8K4RQM-"5):M>4MCO?5NM0!0-B/:2=AV_IW`UI(1%^Y@NC!U!5F(6<
M7F@0"L#??;?<#I^D@`:YQ3135,9K0XHJ1(945A*]RVA3BP$KW2VA)6IS;MW+
M:0-NX=-R!ON0-=44"O(_RM8QM2>)/'^+,Y1\C>0,?G6?&S.)5R<BPO#%3)2:
M2'G7(5_`=<KZ?$V'_<"E2G5!]YAQ+:!VJV(MYX/<%<@\#\498SRX[C)Y0Y%Y
M,RWD_/UX0_(5B"[W(9"&5.4$%YM(AM6<2,U+G!'Z]DMY74'?1%%WS$(1]RG[
M:KBR$-MW'*[;CBOE;;6K';60D+<.R$[LL+/4_#;UV&B*2WBR?IO)?S\7(2ME
M$GEWCYZ.XXA2&WF%<%X*M+[3A'8ME20=E@]O3UT1.OY!^6'`'C57PG.<>0(W
M'\;(JK()%1)M*NXE-/IHX;KUL)*ZN!.9KD1&`%E;ZT(4D]#KF+-Y%5OZUO8F
MI\`[R#?>)?'F44+\:XILEDY9D.,S(;SST2_H[W(;*9`FM.MLH++<B(^%!*]E
M;['4FVMW0O)/)1[FX$T)`X)T*3E?&)6<Q*JV$I>93565348A1)<M)5?6TI"I
M%K:E"0S6QGFE=H4M:?=<V2G<ZF*KVS_E?%2,BRFU(V4VJ*VD+6`]LW[3*E$1
MD/!926I3JB$%D_.E>X.H,AJ\E7\YU2DJB3;U\)MQ^?*9A,,-ER0Z^XE(C)2-
MU+?3N2VT@@]RS\J=M:+BK_U<9;??W,O-*8$AM:7]VG00%(+3C6Y7N.HVZ:(K
ML9XN@E3S;C2D)/MI"G2V%)5L@^XI&Q"@#\=]M$5+;)'LK>#;KK:%=RNQOL6X
MY^LXA+K;I96`!LI)W.B*HI6ED,-@>TOM+J'%H)[Q_P!V;=^E+@?4KYBKIUT1
M4N,ETN[AI(>8]A:DMK2\!V[!TNH=0'WM_P"<I.^B*PY$6Z22XV.V1&E-)#:E
M!MZ,CVFEI*UGL*$GO&PZN=3HBRV4>VTAO9*>WNZ)*UCJHJ4M3CA*W'75$K63
M_.4?AHBN:(C1$:(C1$:(C1%0M/>G8';J-$27RFI?M*>=7L-_5..PY#S490*$
MKF1.V1`4R^0$-RDR$=`2"I).VNUM/TK@!0;^U,D)G'\J:Z'-I<^76T>1T]M1
MV<.17W0K+6**IUXTLQ);98(5_P"&(2Y$<A;:25`'?;;5EN%P&Q8'`E>1MX!N
M$_3(PJE*YQQC,V8BQ7C5-&LD-NMORXK"X$>0'=RZF1`8=$5P`D@+/S$>NHXR
MJ5[*;8K2W:'$`8<$EL7IZFKY"RBAIU1*NJ,>);*H/R^1&EQ;FR(DS)T%<@EB
M16NL-AM?8=PX?3;6S348J/9/@M+DF(C46D)\DI"/;9W[@A/4^VA&_0?VIZ^G
MQU67V8[E9N'7S4,_N%4YM_#CR(>AUR9EICO&>093C`:8<D6,/*L;A/VE;:UZ
M&@XZJ=62&FWF_;1W*2-NJM4NZV_J=M#!D*K$<71=HY%.!Q9D3!H<+MY=RFUB
M<C8OB%W'R4OM.H>NUXE4&4L26C],43'4N!01U+FO%;=<#;I?3U\YI\^"N&5Z
M#J<BI+!YI3A;"A[A;#J6P4;E*R0WM\VP[R=AKZELYI:_%4ZH$J(5%!D-(6@`
M.!:@`VX-]VUJW("DC_3UF7]PHK0GQ5%*6W`ZM3P:"4$>FVZW0HG8MMCU_AZ:
MT14MV,5\!;#K;B/12_<2@(.Y3L>XC<D_AHBN*F1TE24O,NN(_7:;?;*V^H'[
M;KLSOO\`SOB=$59DLH[?<<;03U6DN(/M#\5*[@#_`!:(O'933:D;*0XVL!:G
M4.-D-MD[>XI&Y5V$C;1%?2=P#TZ]1LH*!!Z@A2=P01UUD9HM):L^]"F1E)C*
M;E)F)DL2642&I,:6VIN2Q(D/+05(4RI20%)(`.VH>Z8,IV+K!B<R%S,DX/R?
MXJ9Z[<X98GDCQFL+9^Q=XC$*?,Y#X5$YY:3D?'%VNP>>R##6;$%4JG2U]7'C
M+<+""1VGR`G$$I_S"BG74W3@:2.-%PTSG[A?(N1\AQ/)G#.=OWAQ')>4KSCF
MZX=BY'!K*/!<2H<OF8W7T[=%(JF.0&EYOC"=YKKL9+T.1'2MI))WUP.SN>_U
M-,,U7^M:NI_,GG7!M_%_*.1?%]$V@XEJZ8-3.9\KK9]-0U=6XQ.B-T6$UZ?S
M*XB99:V47Z<RWF&VHNR.[L*T)UI=WES;Q"".NAJ]?_;/VK%[K]S20;A,&VKG
M>$'D`*\"F=^TMY%\6<NWMG'O,5QG'><\EQ&KRF)G5["NH7)F<U51-?AW6-M/
MY!;6%E85T"2W[BQ#<8:4\H[PD+W4/2^V]PN9&]-]=)5K_=W^W47MBY;)MDH=
M;`@D#X]@7?=B^JU6<S&D6<%W):J#'LK6IC2XBY<2-+>>1'E3D-R''?:E-,DM
M*6.AZ'KKUX))PR7RFTX=R6:-D[LD)#C8224K2XEQ#@[FW$*02.T]1_%J-.0:
M$*Q=D%AV%@W6Q793S$MU+;C3:$16"\X[[JV6RI(2>B&E/CN)UP6JTDB[4TFT
M6*>X?=KHC,X1&ZU"G)R'T>X(\9PK""^-^WYB-SHB;9KF&&_*BU3O'G)M5,FR
M&HZ42,1,FO9[W$!3LF2U(<::;922HJ]4[;C60:`G_*5+LA6<#L6#<I:MLFOX
MKM!2LR8\)B--MJU]S]XF\55(BKEI$PM]P7,*5!;:5`!*2%G;;7SAUT;G=O3#
M'Q?BM[KYXILQAMMG+F/6Z*G',*P;$%M7/'CE:"W>.6<=V-"A3;6`MU"FV*UL
MR`F(E?M27'UJ<&VQ/TS:X+>RO&VS_/I!^87BMQ.X-NIG6X/2Z6!^!JF3J>29
M5AY;L\6V]1&OJV+2OSJ^99RI#LR@D/SR_(?IZ]!/MQYH;`4E;BE-@;))&O<7
MFWVLEJ7@#4&5^07PW9-XW5ONA\+]6@OI\"3V]JZ3P''5#9U.QW/5+2TH'\)4
M-AKP"^_VMIB,%LSK*NA%TV]Z\T1&B(T1&B(T1&B(T1&B+GE]V)!<^W-Y9I3L
M5_T73BE)Z=P3.@E7S'9(V'XG1$N?'V7F;7@5PJ[QM!J)W($7Q4P487#OI*X-
M7.R]OC*H<I8<R<4D18:[`L*+J-RD-K^)3HB0OA'A>/9'X9<;X9>XG7--Q85E
M5<D8O<LP,AKK7.ZRTEQ,^7(4]%_\+U]O9EXQYCBBZ[V]RC^.0*FB5IBIOTE$
MBKI:_'J^IKZ6E@QD5[%1411&KH4!ALQHL>IA-I+%>AMGJO9!W(.Y`ZZB75IA
MB,%*MKG^9I\7X5XKYM;7[8WEC28+Y<5&+P<.?<<Y1#'BK$BY7&A2<?XFS/)W
M)/(#T*0AB0QBLZ16Y19I^GAEH2G@$**@M8'';H>B).TA3[VX;-!@:I!N_:[\
MK*+FWF/%<3XWQ.9P]?9IEF2X?F3F5IJH3\"=PM?\>PL0M<<W3(BSK"QDGW?:
M2B&S'(2WZ(*L78))HO.6&%TZN6H?>M7BOVOO-.ED\LX+983CM_57(YSO*#.Y
M6?+<@RV^5N,L`HZ#C%FO*TN,5],_C+S86XH^W[GRJW4=38!^BW_2%8V5!=2$
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MWZVQ_,*Z->XI4.T\]$9PNM5=Y$:M`N=1W"]Q.9/SJ23V+]!KD<EU3HN>0W+O
M#E5D+?DQQ'-R)_':VRLH_)W!T-J1A.28_4]Q38Y)%R"=53\%N9BAVNU4J0]#
M"1NTYUVU7(D5A/F#R9Y/UTV;XE<9LT&.E,J!8<U\PSZU>-4>2U\%#TVD;PW&
M;R982I,1J4D)]^1&CND[A6PWU*M,W_Z5(MVZ@^N0;7ZI`YNQYA\GU>1>/_+6
M9>-O'&)W]7#I\BY]PW,;6DY/R?$YT$RK>NQCC"6U&E81=/,+DQ$SG[:<ADM.
M/(9<[D'4"`_[PCM7GC?^FNR"<`5/?BGCS".(N/\`#L"X[QC'J+#L1QB@J<7B
M4=:W`A,PJ^&INKF.-PW9(G`!0)"PLAR2GYE`DZ]*Z8MCTD_:BZ7,P+O5?X\5
MF9QFN&8'4,7F6Y=C.&4AL*V)^:WK\2KCR)EI,5$KXD9;BT_4*FS4AA`1_P!T
M4$[`C55+='7JKX0O26&TR;M9/;`"ZY+"6@=E/AQ2TH,@CVD!F1&?B2F7OD2J
M%+B2V1)+:W$QU3([SD9*T]H"SW;-]X[MM<W/-SA3->?=:7VV7`AG!`KQ^JCK
M;^8G"M?SQ3\#/6M@_DL_)7<!%DF%W8@>2G,==RN)Q\_=)=]L92N@BJD%E/<&
MM^U?:KIK>W@,`)_Q%7$K0&,<.(3?^2'(G+&7RY_C3X[7E36<M9ACEHK(\VE@
M3H7C_B=U%L*6)E]BUNEJ5D,VT<'Y3"45,N.1?==*4['4A<%D>)/@3PWXCS+W
M(>,ZJ6G*,LP?#<(R*SFO.*CR:O%4SY;T>MCO*?>I8EUDES/M)(2IQ2I,Q:0`
MD).B*>02IEES<ATAMSL;6G=#(*""E@)!.Y!V&^B+A/\`=3SC,>.O+_P!R?!I
M5339##R7E)F#=V^.2\L^@9<P7(9L]Z+15TN#*EOR8D53+:0\V2ZH#?KHB4W@
MSSES9>\2_<.YPSO"&Z#F6MGR\YIZ*!AHBV5L_4^.5'>8'(L,*;OYCSUW;1(\
M3O@&:VXX2EDJ0KY@12[\VO"NF\V<"J^/<LR2VQ;#D0[>+E?Y$ZXC(;VJN<2D
MU;M3`GQ;%MFK=ARU=\AV1'D-*Z?(1JP:\9.%%6Z7<TWO@S00L+\.^!N-H=U/
MI,$PYB]XV@V9L'&;-V+1VSV,X\S)G;^V7YB(/N.J2A)+JE=O:-AK9SH&C4T^
M)<I7O8R@H:X*?`Q>EK*6170FFJ]$Z%^7*GQ&XS]M,80H(-E964AM?NI;DH*R
MIW<)VW&VVJFYOIHOVVM/?7\UWL8.F\2BM4@\GXWAYIB5[BEMFF1?0VLM,QJ^
MKKV!%EU\Z!':)54S6&@S++#BVWPE?<I2E%)W5K9KW26XG<!U2,0,E9/<7.)(
M`*..<)Y'Q,RL?RG*JC-N.*JFIJS%W[>"X<KO+`H?7D=UF4]2S%=K39+89BMM
M-((!<]WOZ;0!=7'7;&6MZ9.>/YK"4%O6YECK2?W%@8W>*G6XL+;]X+:PK8-8
M'"EM,2`S#@3)*X338W0&D)2/52@D:L5A*7C29F-EBD2TSRIH:3)9LJS,RNQJ
MQ=M:5IB/92H]>N!/D=KTQJ1`;;<+G:E)6I0`&VVB)?Z(C1$:(C1$:(C1$:(C
M1$:(C1%2I02E2CN0D$]/7IHBQ%3!NC8!([QWJ<W`".NY'^NWVT1#BAV!;KB4
MKZA/[-;\5)[PMM:V0K93NPZ$]`-::!U!)C4+9[M=N;<@:7<>/=W)M,SHGI8C
M6\&1`K[W'9JKVLL+)E*X"4.-$6D5;B&WW8$276QW.AZEX=PZ:Z3GU#0Q^`[%
M5V6UP6$QGB+BXFM#2GT`2>X_YEPSD:(Y+QBT:LZ5^QL*:+:Q"B13OSJV1,BS
MJIN7,$9F3+C%IH;;=JRHI]=3Q4`#L4ITTU^P]3P@<OXK89#DJ:+,L)>>?)&1
MB3C$@/L%EMIU45RWAV+[C2%,-0F7F?:![P.P[#<ZP]SFMJW$KS5I%$S=")WN
M$>@XX9UP3I_4%88DM)2II]AIQIT.H<0Z%-)*RGLV*0%[[;^H(U2WLTAQH,%[
M&U\/['B';_!-UR3.=B8AE\P.XTTXUBUTN.]ESTN/B\-QBMG2G'LEDPFIC\*@
M8[4NR)"F2CVN]'J4D<-5U):AK6M(->:D.87S5G\+SP'T7SV^/?W.:SBKPWQ^
M7RQQE*EN<49_>XIB/]&RGY8D\*8;9.RL.Y@;QG,&8N4OX7G%0\M-8&HSZI4*
M&Y(5(:W"1XF[V6>2\9<2`AK7@X98*W;`P1.#2<OM\?HN@6*_=4X:SC+Z^GPW
M!LOL\0R;(K#"./N59$''H&)9GR3`PMC.Y/'ZG9%F)^*+A4[P09]BPB$AXI^=
M0Z'Z5MSHX[4Z7>+M5#-&(FU&:::U^\#25$[QKOCX[9HCC+R#Q?,+S(YLA^HB
MY5A$;&,[@X#7YG;Q5*13V&!W5M-#C+T60[*=C+;<0VH*&J_U<KYWAS0&C+-5
M_J#JI3@G&K?NV<`9%`M$TV&\FB?%B\OBO^JKZ&J9G?T0Y!14=G#IWYME%:>>
MR9Z\0*\DK7LA96@J"6E=/4.Y!6$,?5%2FS_Z<KQB:XUHN4)W%O+L/!@.0W\]
M)HZ]Z7QMCW%5Q4XWF63WD%#S=E:T\"YMVT)=AMN+<[@>Q._3'J'<@NIMQS3U
M<._=&X5YTQ;E++,=P'DG',`X^X-'DEB]_<5U)W\H<1)_-E1[W'*V!/D74-YZ
M;1N,AJQ*05';H==(YBY^DC!:/B#&ZDBL$^XWR/E'!?'?E=R!P]@V-<#\_9-A
M51PM45E];Y)R-%:RZ^L\>J_WVJHE<:IR?;"&EU`A/I:AJ5[4A6Y"A(\':N"P
M,5^[U@2UXW799PAG^&9;G?)C_'/'6,5+=-?.<BUK')<_CR?D=-(ARI)%1B[\
M!<JX2IKO@MJ2KN*""=Q$]XU1^5%V@9`]I':D(':/D`*0D_SDI"MB4!6_:=@%
M)V(Z'3HS`5H$6)(0'%]J]MB%C]7OVV"B%=G:X5E)&X':=S\-5E[*V6$N<:.I
M\%U@-#@OF\QWS!NL/\%.8+6URVLS/G_CKR6Y01'PW*'K0Y0[BYYR8@L3)F-,
M.HOD1(%),0NO9^2,J0&UG=`*3\JFW*:?=HK*C0PR4PK6GSI]%87D`GMP22`W
M'#_HH[UGE7S'QSBM[Y`\F^/OC+F<U'%<;R0E1*[@6PPO,Z6)6<EPL4R"@DW<
M]R1$OL\M6IS$A3_NL/D1EA"2%=/MEU86ME:Q1M)(>T5K3\%YJ)NNX,3B=(*D
MY"YFYP>X4\U:I/#N$-YY@_`_'.5"FQ#C:9`Q]O*.2UVDC,[%FAF(4S?66)U+
MKDF0IE27`^D*"'"A"M4%SM5G),8=3M(XX<NY2K62\V3<GW%C/(':@:5%!@.0
MJF!DU'`_B;@M+,^W=EDOESD+(D7EM?<BY-C=OR=-X8L#PCGV0R,IJ;.-&AV$
M&^RO(8*(L^M<4IP/]O>E*=P;:QL+:RB)C)-!A6GX!6NX>X]VWAG1OI"YKL#S
M3Z?;:\T_(?EKF'QDX9RXX-R`YR?P0USCFG-]'@K^.6Z.-<=&44`X[S$_F$EF
M)F%;GKT2.M)*_<[W#[:`$[2.N[D*JJB@;%D25](,=2_;:0MHL;1HSK;12D%"
M'FRI:.Y(W5[;X4D;DD`#7-[R\U*[DU3*93.O1SMQI50%D4TG#\UGW4=*TAJ6
MJOD4JHC3R7`IL2>YX^WZ'M'\>M%A/?[9`"#\J.[O=:V0>Y?ZR0I82%'VU>FW
M34E\4;8]8)K1$.*"$J4MQSMZ;E3GR`'U*P`!V#XZ\_NNY/L;9TD0:75IC6E#
MW$8K>.1T3PY@!.6*C;;/HGX3G=R4RXR[^OMJ:$^RM3+S421(%8V=T[?3-F0H
MK*T=JNT#KKP6QP/GWGUKZ@EU:#+-3KS0+;K`_J4K3@G*I82E4=2P\A_W(L.(
MP[[1/T[SD1+"`XI@A32RH1DCN(W4GJ>O77U6^L8I+X;CK>)M#1I!&G#O%?JJ
M*VWBZ9"^/HPN#J@DAU?O61%Q6K3<R;]FEKF+J4@MOVS4&.S9J9W)$=,UML2&
M6A_:I4!K,V_WX:VWTL,61K7++FO'P^W+6/=#N0#NLYU:84'=A7ZI90VE)`)!
MV'7JXX?CZ[$D'?6J]W&!&:M6RWT7>29TC0T@"B\T7%&B(T1&B(T1&B(T1&B+
MGC]V16WVY/+5)`4A?%TT*2=P#_?\'XI(4-OX=$3M^*;+4OPS\:X#Z)1;D^.W
M%#+C\,^R_%@R<$HVU!MQ2VOJ'1**5`(4EP)&V^B)@_!G(<KX]N.7O%3-'84Z
MQ\=LGC8[B6=6-LRG,.7,6OXLK)(>166$J9BRVH=4+\PW+&,MYF?,9*$A!:63
MEITN#AP6'#4".:Z3E2'UN(0XXI;6Z70V0&XZ]MD$JV_:$+VV_FD^O37229T@
MH0%I'&(_+4JLLH)04_L@VGM2AH!IL;@[E*&PD)*G#W';U/Z-<&MT5IQ4DS/+
M2S@50W'2TDH2M0;)&S>R2VE![2ZVE*@>CZ@2I1^8=YV(USE@;+F2%&AC$,AD
M;6IYJM++2.SM2`$*</:.C2DNK"EI6P/V2R4@)"B.\)]#KJP:&AHR`HNT;C$\
MO;YB2?B4);*5(7[KA4A.Q((0%J`6E*E)0``4MN=NPV!`&_76P=0U7*5G6=K?
MFKA0WT*6T-K!"@XV.Q84.H4%#]50(^'J.AW&HIM6.EZM3J6G1;VU7B@I3CCH
M6I*W=TN%/;\[95W^VLD$J2D^F_H.GIJ4YQ=FNC&A@H%6I2E'?N(Z`;#8````
M;#;\!K"V4(ON/<>9EREX-^5G'6"4DK+<PR[A[(:/&L3@(7,M+.VD3-F841M3
M[2Y)DPQW^P74I<4-MP#KAZ=G,HOG)'"_W&<:XDY4;XTX-R^GP?/N4.('^59-
M5CEMQ?R9EV-8W@47'LAQWC_A>ML;;\DK:F<E"IMDU,6;;;W4>WVD&3;0M:'X
MGRJ1;/T%Q'%I"6.?U/GKC6?\94.>8;D-E?\`(F#8IB&+V$K'J:;:YSEM?QG?
MR)E/'?M)B)K&1Q66F6YPGH@M-J_4<6LG>KMXFF].)7BMXMG-G,L52Y7CQ!]R
M+"+K..5HCG+^/6V25G,&)W%=?6E!7<?87Q9&X[KG:&P2P;F+"J;+Z]I3-;-9
M[RNP:2VL(/<LVNA\UT^!V$8.?%7FTV;-SVT"[+F!C3Y:8]]:K`\7?&+E#[@G
MB?Y'\2VG(7+^,X?B7E$Q=<)9CS?5R++*WL?HZ)B/(2TW!D>TXU/M%R2V62Y%
M;=2AYG=7SJK-UL8X6$0.)FI@#Q/+`+Z5_;_W18['#+/I$AMP2`<C3BZA&'.F
M*GWP#B'*7!.$\A^!/CY1I/)V(Q:"ZY`\AN0\O6YQW3N\MR)OU]KA35J\]E63
M7M;%IW4,P4LLQF%+1[KOH==MLM2V`2W7AD'VXK;WYNEEN\+=U@CTO=_*T85^
M).&7%+S*_#7DK#.0O&_C7@R]I6L%QRLYDR?EWE;,K6ND9/!Y:S^+L[R%$Q@F
M5,L,YG%,E$>9*"VH<664,]-NV7',RXU`Y--,/XKRL5E-=V0GA:ZK!B#VKH;P
M9XP\9<!56046%HMW++++%NXR_+K>8N7?Y9;!A#+\A^UD=\IBM=67=H[2D-;.
M*(3OUUH_4#1F*J8Y0V7IW.`!X?Q4H8S2X[3:%.`E*$H5VH0AL=B=CV(0D)2D
M;=`.FME*F-I&W4USC\E;5(Z.^VOM6C]4C8G;X@@@C<C15#KYQD#(@#CVKD+Y
MC(,C[F'VT6W0AYF98<NQY#+KI:2X$XS<N-K3VI5NM+B`2G]58&QW!(T5WT&^
MGZM3U.7!26\68K+'D7Y[0$ML(;/->"E+"`RN.%2N(<-0\/:^G0TEMUU:EJ04
ME(*B/U>FB@1O>Z,N<`'`GZ9*<-BM2*N>0I2NRNEH2%%]SN`9=4$K]CND.`K/
M7;=1_3Z:ZW[A!&>F**Q-LP<%SN\,Z>)E7CAQM1Y&RNKA0\JSJQ<QKW),A-K*
MJ\ZLY-5;/26V#-CQX3^Q["$@J4.X_`^69N;G2EA."CW-LP-!`XI]_*F;:4_C
M5Y!6%=,F5][3<)\C2H,R!WLEGVL<LG*Y^OD(2$IE1)1"R%[**-SJYMV"XQ4N
MUMQ@/L%\,O%'W@KBW^SKQOXQR+[R3'E+DG+>(PT<V.\>VS.#2*&7S34BRCQ>
M02%5[:'(CP84M"]R`4JVVVU+8S3)T1D#1<+ANB9S>17=_P`M?OH5_A7R%DW!
MTC`,8Y/1XW\2\:95S_D^3\F0L+RW(I6;0XTJ'3<.XNJ&I&:VT5E\OS-W$-E7
MJ1ON+$V`$#I\*@$K@N[_``-S-A/DKP1Q7SKB:9DG"N8<!I,RH*^Q4$6S-;?1
M/JF8,IN+]2AQYMP&.5MJ2$I*B3JN19>`\DXI,L\RKGK<4<W&[J=C4+&9KT60
M[*IJ%IH1+[':F*I+R:N<U)Z'M`[T*)ZZ(GHCV$&9%C2V'@IF0PVZTOZI"5.(
M6-TK6WMNTM0]4G]71%G`@@$'<$`@[A6X(W![AT/3XZ(O=$1HB-$1HB-$1HB-
M$1HBTME:HJ8[4F0ZTE+DUN"5K9ER$K<>5VH#C+;85!1U'[11*1^&B*/V2<OY
MM#RNRP:!P;R#?SFT-FHN$/5;.&6?L%*WI$F^6ZV]$*RI*?:[=RE1/PT1.W5Q
M<GE_D%I:.Q\;E.1)+F14L9W\UBQURV-F:UJU=#3#!JW1NE8"@XKY-]R-$2,N
MN+9=[C1QF7GV8P'7;>'*E7\*3"8N+FK<D6;TBGD-IA.-UL$IDK:0A?<M+9`[
MAHBQJ7AC$\0P6NP+%JIJMQ>I4^E-<I?O6$J-/G"SF(;FR.TQ+<V)$E=BA*BI
M/[-(U.:2<_M_!2[2%N@@Y'[8I/95>1^*L<A1LT3*R7'78BZ>2XE`#>.06=S"
M:E35A,I]]2'.T.I0%?B=2(8^HXMX+R&Y69?='IC$)<8_DP:D8Q7LF/.Q7)*E
M;N,6J'ENR#+C-1Y3%6_NVV$H-<PXD>I^4DG?KJ)=VS353;"[-@VCZU6-S=Q'
M0<]\2\@\,97)N*S%^2,8O\*R*QQ>:]`R%[&;VI?18MQ)S:"(DIUN26D=VZ2V
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MS55X=C/`F%WO(N.W.8YWBEK=U$^++6KD%,&:AE\/K^G9&X0WWN)BY*YM?)\E
M*SCS[//AI;\)#%:W)N0\^Q++Z?.HUW:3,_CV=7ER>0\KQS-<Y,ZWJ&I,)XY%
M>U;+*5HW]QM`(5L=SE22<:)U/"K[9M?XNY'RF]D&7KRKC',^)J7@;!^'(\B7
M,Q_C[C*NN;G()>/5LV8EF4:N\EW<A#B4E2D[;).WRZU<_0W4N4V+"%LH'VQ?
M&[CVCJ:=/(7)D'CW%\^QS->*\7MLWKF<9XB>Q>Y?R1&&8B9$&.U`QJWM75NR
M6)05(D)W;'0G;GZK#-1"M%Q[]N+B*C\AN#?(+%N1',JP?Q_>YTL,!Q61)A9`
MY!S;G>SAV5_4P<D8<1'AX[7/1TNP82@5LON*220=M2X-W9;Q]-V))6*+K>77
M/92L>XE2]W-E@!Q/N+4L)<&ZP%I"MB`>T$=-AL-=/ZU"&EHY'[9H4CXN88Q=
MOR(-;E%/92H:%M6`JI\*?.A3.H0A^!!=<$1*5=2I:@`1UUYBYNB;=W<NL'F&
M"C'E^%\<WO.&*TT3'L&=N[*5-N.3G68T5^_GP:IN',IY,V1`2H-N3[5]"W?>
M01LDDGH-?,-OD,ONB-CN#JJVE-;0]R<'G'Q^XGYVP29Q_P`O83$N<%$RIR&9
M1KEBKC/+QJV%Z(WYG7K:]RC8DI^J*'/E>"2@@]W3[;[GO#%%"010TRXT%/GS
M7F;<5O'#DL_BI<S);O,L@8IZVJPVP>AP,5<CP6U(R>&PQ)C_`)Y,:?4E3M>_
M!:]J,EP$H/R]?C4PWCI7ZSQ5Q-`PO+G);U&`46.0_I,:QC'ZRJE3G;V77JA,
M0Y+TFQ4^F3*DEI![77'9;O<KJ4I64CY>FKZ"<N`:<*KFZ!C6D@8I$8=XR\+8
M)R_D?-F$\<U&*\DY1B%+@-MD,%3[CS^-X[(?L8=4S#5NS30FY3ZW%*[093BN
MY6ZMCJ2HR?61+:K8;S\I9:B0VI4B5))W,>,TQ)?<6.[?<>Z=P/AHBT\-<6SF
M1KYN(S+0AA,G')S"0J:['FQXPD./$]`P0PGI\=M$2J1^HCKO\J=C^/0=?X]1
M+BX(:1P").Y%(<:J+/L6`M<-]IL*]'''6^QMH;;'N<6H)'Z3KQF^7#C:D<"]
MOWJ98Q]6;2<1I*;3-'),'C@U,&G97;W\9O&XT*4X66X]C/@OOID3-B/[PBN,
M)<41U[@->F]N[:P6XG(\5%57ER[U!M^%:)R:I4R#65L)U:A)B5\&-,4HMK4Y
M,9B,MR7>X)V+;CJ24?B@@ZE7ES_NS'V!=1:L8``."SQ/>1W'VMSU[E@?,>GZ
MVP.VY'Z-2H+<2M#^&:ST&@UIBKM=+:GMF1&E*2PW^P6P_'*''7A\4J/0'I_)
MKHMULM$1HB-$1HB-$1HB-$1HB-$7._[LO_HY?+/_`.Y?-_[_`(.B)[_$"(7_
M`!"\75AE,DI\?^(BEEW=;:2,$HQW);5NV"?QVT11X\U/$[$N1:7+/)&@BRL(
M\I.)N-KB/Q=R+CE_-J+.*BC8EY!!H+1IAF373*Z0MI3J4/M*(+B@%)"B=$4L
M/&7E-/-/`'#G*OY;>TR.1N/L5RYJJR*(S&OZ]^UI(ZI\*]$-2XHF-SV'UJ`.
MP4L`:(GXT1&B(T1&B(T1&B+'64A109!2I!#ZDC;^X@`%'4>FXT1:]3D,EA/U
M"4-%W=4QT]T-_N:+):!._>2T>W8[C1%5*^A?;2'>YE++#D8,.;(4[!=2IMYM
MM*.T&(H*V(^'3;;7>#$/_P!/XIJTK2OTU>Y/B6(KXME:0&G?H9,]OWVH3#Z6
M=TQT.=R&'"B.C8I`_5W]=55OC>'O7-]HVX-7!:MR(Q8F96V-<W80["+^7/,S
M4>Z7H7<ZIV&XI?[1<1QQY>Z22%I5LK<:]3%;#J.EYJ;86XZ4UNW-H^WWIGN<
M\L<X$X:N;'!L=K8\B"&JS'*VIB1XL9J4_'6S#=6A*4`)AO+'4G8`:\3O^Y>@
MN.N[]MAJKS^UGLQV[[_Z2<_H224</\I/=\%PF<Y2SFYY#9S?),A7E4RJD0%3
M&9CDJO9LS2I4Y`CV#$=MUN\BQW'?9"%**-O4;]=>!O?[A-N)^@P_;YK^BEW_
M`&']H6OM!DA8!X:]Q-<<L^*?'%'.:.<>1++D6VRK*<4JF*F1%O;?$VFW&Z5$
M9#3?[L,T@="FPJ)V+;4I`4.T[$==>DVF]?(#*:T>0>Y?"_=WMS8?;^VPV.V@
M4,;M1.9(.9[>Y=@^.<YX^I^/\5@#D`W<:J@-U:K^_=1^:2[52E/LM6B$'^\I
M#P<6I15^'PU]"L&&5H(&JIQ[N:_)^\;*Z>]=H%*NX?\`1."SRE@4ZP;HX.9X
M[(M781D,P&+%*I+C?M%27RZ`H%H#J5@>G74604D<!P)5-%L\KWECB<#3[8)%
MUO//&4Y_-^R[^C@X)<KI+VSF.,IA+G*BQW.R`[(+3LUMM3A)4E/R@[GH-:BE
M<<E=6WMMT8$],?MV+GMY4R6[C[B/V],GIWTV&/87+Y6L\ROHTN"[38U`D89<
MO-N3[,+#;"5M2FW`D]>[6,*J*=1G,("D/XN9#2V?/OGMDT*T874Q>6L!>D60
M>9$-I%=P[AJI4Q,L%3*V2VT7E.'9([C\!IA7L72XM##>,M^+M/U4]IP<,&<&
MU!*_HI90I75/<F.XH!6RDG8[;'J.AURN;ALXH%7U7&'QQ\?^6LIX%QS*J/RF
MYLQS&IF;9S-?Q?%#AXR>J+N97+,JEQ?,++$G/R_&H2E)>^G=C2/>#?:71\?)
M;O9.(9(VN#Z_193S\H>-?E?9\/\`*.`<;^32N2OWCPC*\;K\<YXQ&LE"Y<O:
M.P@HLG<]P9=+9QRT_+2&8C;#+*"#W@[Z]!8;E$VW$)IJ`HL=Q7+SQQ^U=E>7
M?:%H_`%W)H^'<N<5\NPI5QR-E6'!,*2*;D>OSZVAX["BV_U\C'I7TQC,2%K)
M=2CYB%DC5@QVIH=S1/;SS]G[D#DKR(R?R)XPR#QKFV_*_'_&^)<C,^2/!3G*
MD[#[WC.*_3G)^+(4FZ3'JX>3P)9:L:^P0Z6)#3*T;I.VN\,G2E;(<@:HNW?%
M''1XSXYPW`(YHXJ\.QRMHV'<5QV#C%"]):KDMV4NEQR(17TT)UQ2@EO8D;[#
MKJ3<7<<]2T8E,4EU^./&"^7&N;!C#K7)$2J705>5FXM'4QJ)8"G(DRD8LX$%
M]U;I44DMO=H/P^->UM"3S1+>XQY^"FW=QL,1\IMJQN)`F6"WI=7M7,K?)=BQ
MTMMU?O-`ME7S$E74G6R+(XQR->7X937;D!-?(?E3VG(#"RXU#L*=Y==8);<)
M)+(>:4$[GT`T1.)HB-$1HB-$1HB-$1HB-^H'Q5Z#\=$2:O):83$1YVU%>B9+
M;2IV9&B,Q+"2M00S7S7IO=(:;?40`I'S$_JG1%MX:7@AU/O.E*.Y#S+HV"7P
MH)/L]=BV"DC1%F(&S24D#X[I.Q'P/IZ>O7^'1%6"1OL2-^IV^)_$Z(J2`KH5
M*3T[>]/5:!^*-_BGU'Z=$27ML>AVL6=#NXL*?!>1_P"$&7TH<BV394D-*=#N
MZ0]'22H?ZX#3%1+S]L'CJ"C57X+D&+KQO`*W+X[ECBM[DN4X=%L8/=&GXI=L
M2X3=':KB%'99QDSE*;!]6D@CXZGVM,RN&X#_`&9[D^.+WSDYE]-HIM^YAS9%
M"X[5LR&XRE=ZRA3K3A4MN*E"!VK5L"-:7<&J<N`PP5!M&[.M)NF[R@KGUY(V
M$OC#SC\2>:%.(J,-R2LR/A7D#)HIA_3F3+?ESL:H+%JP_9LU\^WLDH:<B%,A
MV1Z@]=0IK=QC<*8Z5[401[@]MT#Y'!W9@I\7EE*HL@AKAN(DUMY*73W*^X%T
M61:0IF>D@[!IN,\A!V^*@-?'-UC=!N8+JY_BK">03-TLI3[8)P%%8+:E%YQY
MUE*BIE?8A;31++?N;@[@[?PZ^M[5,V;;A3@T*L,)C))XKFO]P+P[P;R#IV.0
MK)^=B>=8KC'Y!.RV#!.2A_B9.2T]UG.-.4TQURM6Y91(_1*&"\X!^L0@`>=W
M'S%*X89ITO'3P[P?QVX>PK`.",HY*QNE@0H\ROF7.5/94S/C64I.1^S/K;N/
M(KX$=EYP-I:8BP?;Z-APA/7S\.WO?*7@GQ'FMNXJ1R,+Y,2M*FN5'O;!W4S)
MQ*F<0I&W5)0IQL*/:3V_,-E==>@M-O>QP)K2BT6&.((-C*=D9A=7F?LI'U$&
MHRA,;]W8<U)!1*;HHM<P$RHVZE,J,ASKTVZ[BS](.2RD]"X-.+NVC?&5LO!Z
MRW?$^30/UK%OC`M4@/OV4>I=>B.1)4Y\DJV>2$K_`)=4E]M,DUT)&@Z=-%*@
M\GQ6RG\39=D+3/[U<F96\TZDLV51B[M?BU5.B?SFI+#,>[GR"KX?W^R1^(&V
MI4-H8FZ7572M#DL4^.?%K3,-FLQIZ@$)Y$F+88W;6-+:)DM[J3(FS*VQ@S+0
MH7\Q;D-/-J(ZA6M9]@:;5Q!X<UALPE-&K5X=@F.85R=-:KZY+T]ZC>LIM[+6
MY*O;F3*=C)?GV,Q_]N)$P)2'6_U1V#7S3;;-VU;Z^=F)(I]:K?H.C'4/%+#F
MRU8B<>W-?'CO_4WBX6+P);*F`[!>RN2W4NO-(>2HN>XP\XVKM_53N?AK[#=N
M9NNV")U-9;1:D>*J76+5$JHK*N`J*S#B08$2%"AQEH<8B-1&41T=BV]DJ:<#
M?>.G\[5'L6W&VF],,FFBB2?N%+$[^IV)VV)_'KU_BWUZJXMS'.PC*JYJT^6@
MV3(4A#"EMA\N=W8M'<-D*[%)6>Y6P'77=%&3ESE:VK<VQ+B_!=I^2W5M&L,M
MJK2DERZE[#'B69T&/*^81G_EW/X[:(I+0HS4*,U$CQFXC$5/L,,,)[&6V4?J
M)9'J&@#L/X-$65LD@A2>Y)&RD_`I(V(_C&H<MLZX:YS<ETA\X^W%-MGLY/T$
M:`UO&G6\R)54R4]6FY0DM>PM1_UBAO\`Q:\1O,P<TV'\VL'Y%6<HI:FF=0L?
M+Z&VG-UEI7+VLL7<F654T\"Y&DSFHSZ@[(C[CZIJ0IIQ;8W&P.O4[1;O%H!V
M+SUS6G:LFCR%NRI*S()$5Q(G542WD,OA:6(CS3.RT0VP"KN=<2XL-I[BD=3Z
MZDLFDCE]*!X<_G_%<MOF$+M=<5I.1,TCXQB&27_;LW65_P!6TBU,J.B3+8;2
MY'0RF$IM^0'5/(Z#<D'7IK/:6W3F%QQ)&2H/=GO"2QMY2QOEC<1\N](OQEY-
MNN5N/JG*LF9HSD5JV)ENWCZGE5<1QJ5+@0$LQI+CKM>ZS`CI*QW=WS^G76N_
M6`L)-3#DO)_V^]X7'N`:9A3[=ZDON"5;;[@C?^SJM%V;B,-(H1BOK\FWLM1U
MFFKGX%&L+DC1$:(C1$:(C1$:(C1%SR^[(1_T<7EN-^IXMF;#\?[_`(6B)^/#
M'<>(?B]\#_5_XC_S%H]$4=?N$>0V<<8)X.X2XTI,*M,U\L<PR/AZJMN0;:WK
ML6QE#U('I%U*B4#C4B:M+2EMI[E=RG!V_'1%,?A7"WN..,<#P-^4BR.'8718
MX_8QVWDQ)$B@A"-,EMQWU=D-AZ4XZ(_;W/J:3LX=]]$3H_4QPX62\A+J0VI2
M%GL4$O*2EH_/V@A:E`#;\=$7OU#'8APNH"%H]Q*E*[=T=R4]VRMBG<K&P.Q.
M_31%:5/@H6MM4R/WMMK>6@.I4H-MI[G%#M)[^P>H3N=^FV^B*\'V%*0E#S2U
M.!10EMQ+BE!`!4K9!5LE(4.IV'71%=T1<W_NE^6V?>%7C".:N-JO&[G)7N3^
M,./40<J#RJQ$#/LM@4MC,;#:VFQ+C15*4DE6XVZ`Z(FA\T_ND0?#?/N'L'M.
M%[+E"%R;/P*-F61XKFD&!8<;0,^ELPX%T,=G8]:HM:Q,]Y2FU.S8'=^JG?;1
M8.1[EQO\UN5/(7[DXLLVX2Y.Y5\-:KP\H\BYQB8/%S:H@XWY%<;8+R#>T=W?
M65S6T\0X!EU=)Q"7#BU]E'F19#4E&X65;:8J3M6,9[E.''_NY<NU&;R'L]\7
MK>7PHS_5:KK;*SGM=39YQW;>0N&Q;E55FE*YCLU[+BW)+DF2JG=BN,J=<;4T
M>[<<+@G0.]03_P`HC_+^*=&L^\17_O+18UD_CCEF,)Y"M<9G\$SH&<P)[7)W
M'-_R2OCZ+EMLANBBN8E,KS%^N75N>Z[*B-MQRL*6=HE>*[575'QOYHK/(;B;
M'N8:>LFTE9DMCD](S76O9-L8K>+9%:4;ZYDAM+2%NNR*M2S\ORA03ZC7H89F
M^A9%Q`K^"YW]^]EHV&/@L'R>XGS+E?C*QQW!YM;69$B96RXOUREMU\B.PU(,
MF.I0W4EQ_N`41U!5KRNX63KJL9R<OH7]O?>H]M7,=_(/%'CEV@KF5BOVY^7H
M5Y6P[S(\;@8^&$S);\>7,ES(CRGTOSXT2.9$8/%]H*2-U@)Z'X:^?.]DD;F)
MZ>&H^V2_1]U_^2C+C:W0-\Q!`&'+OR[5M<0X<S7B'FZ-P=?YRS#CY_`Y,S/C
M/*J1J9`&5XJQ#CIL^'LV9>F3&#D516NNV"+%O:6]&*DM)(23KZE+;1VT443,
MPS%?F3W'[\GW[<A<NJ`VH'Q->:E`YXH9'+J,FKH&18BY59=(AA^O=B6\6&8*
M:56-R9??$M8]S'DLOM@[-D[J;)>)WU:6I`C`XU4S;O=PMV^,`_!85;X>9)"<
MP1$?,Z)%ABQ7^\-TBBM393JERAKX2(D"8JT2I9^L3[B6@DJ(&QZZVGN6R@L!
MX*%+[IK(YP:*$DY=J\B^)N=/6!G9%E>-*R"NO(=O05?Y+,?Q*R8G4T:E<>S=
MJ:?>R*Y3$KFG=D*2&RM+/7??5*^!S'=3@N,ON+U#>FX4!*BOY+X<:7GWPSX=
M8DN.JY&N<E?3E%2M-4PY78KA$AZ7CES3@N(M_P`R5%/TQ2K=N/L@^FM%)L]S
MC-,E(OPSH9U'R%]PZNEUL-$BRY7H[=FJ:8'TOTUMPKB3T6,N(%'9#S&W<W\0
M=OCJ5&2('#L*C7EZUVYQO&0<W[PNG<Q*E0IJ4;!1A2]B?3I&=/J`3Z#4:WMK
MB,_J%I[O^B\HH:>"'8KQCQMKL4IHY3G:DM>J'&7LMNN]M]/\]"E)ZIWZ].NI
MUQ;"[@,<=-8QQP^Y;,87F@S4D)248[,;>2J3^4V2S'E1FU+9C5JSN6'X[3>[
MC;`7^N0L?#H=?.;IMSMER7S4,8_PX_>`IK-NGD\I;\S^2O9)BE9D-%,K;#=4
M6TB"#)5#ERZ]*O>V=;<:FQ9#5JMYIU7OLI2ZIL/_`#*2>HU[K:KF*\L8YF.`
M#AD<\^.:X.MI&.+214*"V`6G)7CWS-4^/_(V:WW(_&G)2,ERWB#E#/9GT-YB
M]Q"M6PKA?)[:`&D95*EPI*Y^/SO<9?3%8D19#+CBVUBSGLIGV[RQS:TYG\EJ
M('G*BZ*1ENQPJ/*;6)$9KO<2A+I;*2"1[3TA;A==[>I;#A<2.JDC5;;6UQ%^
MZYI'?_!<GC0-1Q"V8/<E"Q^JM(4/QZ_`CU"A\=6,A::47-CP^M."U=J](AP;
M"7%C.R7T1-FV$(;4)(6L-NI"E+"DA"#\VP]-<UNM;B-'78I1"!1-JC5TZPL;
M,P^Y+B6Y=M)<G3VVBH^_VMR'%>B>W8>NVB)1>XGO"`#N=^NP[>@W]=_CHBN:
M(C6:=H1&LT[0B-:HC1$:(K*EI#B">A1T"?YR]]_[F/0[;_B-$4>[[B1KDR1.
MG3^0LS?HV<G;F_D-?[46K950/M2H%5*]UM<KZ2,XGH4*27=^NPT12!8+RBLJ
M[ULK4\^%@#VVGI#Q4J.%;]RDI;2.TD>N^B+)T1&B(T14.%822@,DCU3(!4TI
M/Q2H`'<G11KEA?&*<'`IIN0,)9RV`]#$Q^ODJ<:E)MJ5SZ&W8<CJ2MF.S+W_
M`&<0N`>X-^K>_3X:E03,CSJH%[.QT!A%==%J*!",IQ6IRB)*F4EM<4:%NK@.
M%IF>XR'0),U6Q^I[G8R4=Q">XKU/$L4GCQH?FJ?T3'V#7,IZC&IX9_;@HO<[
M54?G[B#)^+\UP#+(=Q<5UE;8C;QX#;@PWD_`$?F^)Y%"[0$LY`C(&$+@J2X0
MZRZ6UCY1OH_IN\N7VJMMOW">R/0EJ=1TX8C'Y)[.%^08_+'`7'F=M]EC8VN.
MUKELPA;"W:[-:EI/YK56*&6BJ+:FWAR!+03LPXT&R3N!KY![ML9&W)F;30/F
MO9V4H-`ZJ?J@NC;546:3^S?W[6^T`M/(`;D(2=^K2'@0/TZL?:N_VDC76!$G
M6-!B!3[ZJ;=ADH:8\",ZIL>?[">UQ\[0U:(?YAFEQ1XM&5)4]W/Q[2S8_-8P
M]L_*55<=W8@$DG8].HD[C*TWHLQ^Z["O#[?!0Q`_L3XP(D>OA18,-KV8D)E$
M:,R226H[(]MIO=14=TH2!U)U;6D4<8$;A5PP/>%R(H:+-`[CMT'Z3_+\`=7K
M1%T\`:K"%)[1ON#^@'YC_L4G92S^A()UKX>U%YLK=M/8YWN[^VA;2VE*V&YZ
MN)2E)_02#J7"8NGXA\5WCD:UM#6M5YW#?HI.X)!V*3U!V(W!(W!&VJ>\,8)+
M1EBMC,PM(QR6J<D)0\RSVK[G^J5`#VT_,-PL[@I.WX`ZJ;FZG9M#K\@B`#X_
M++ZJ)M\<D;_&0:IL,=4F?G.:3G3W/0GX\",?BF'(BQI:$$_`A+J=Q^.^OGOM
M2[MMRW>9\E3&64;SK6N..7S7I;J2-]HP-!U@XGX)&\HL-WW(_"6*&1+86WD=
MMG;K3".]JQC8=7*V@2$J4E"@J59-J0D^J_PUZ^[N'V=VVSC\SCAR58I',.(4
MV.Q*4H#B@!WA(2TE1!=W<*0L)/ZW;W;$$:]3M]M)9R:[FFLYTQ_)0G^<E:Q_
M)**-/KJE^TB)N+A$AZHJ?=2;2T8B**9$J#`Z27XK.Q*G`GL2.I.VK2XECEII
MK5:+-EO1%Q)7>\H,>T5>^PZ6E%IM25./QY':H(#7:1W'T4/X]1D3!GD3"<9_
M+S_2+C&2N?F4YB6F1>0+/,5)ERP8=;5S(ZVIJS&2Z0ZVE!">G4?$BD(P2II"
M]MFW$AUA)0M"TL.)"V@][BUK4\$GYB3U/P&B*]L>FWXC?7>.:*S@<903GE_&
MBZ?L/H_Z)F^1@%S^/5$J2@YK4(W3^MW.R"\CITZ=K1WU\1O=QCG]TAK`_I4=
MF!^:N>BZ>T+F4IAFG4LU.?ELALL-OQ_RYQMUL.>U(6ITK;2IM9`*>QM;FY!W
MZC7V':I(O2-(JJ"YMI*4P3"WL9G`L7L[JOR^OH,:HZJ;8O(S9Y;E/`J(DAN5
M82)$GWFI$5N#4-N%)CGO*SV_/N!J?:36$T_1+7>H''ACEQ58RPN87==SF]#D
M,\,^"YP5-EY>^06%9O;XW2\2<=<:3KB>[6W7./[Q95,Y8QN>_$-)D-/C./G'
M'L,BLQ(X5#?,B4\ZVM)<"3KKN6_0["YK)0]P)`&D`XGO(4:]V&UWR(M:*5:0
M:]RE/XP8AR'PI!H<=R_!N/L*=M<DNJFRJ>-K2?>4^00&**'81,V18WJWK]+Y
MG%33C+SRVTE?0G4&;<';Q*"-0;7BJ?:MCV[VL-#&'7EX<1]2I^-/I>_52I/R
MA8"@`=C^/7UU.N+9D$3=-!C^"]=9W,]]74?TP!2JO['4*@YA3N@[F/M\%YK!
M7(C2:%>*/:DJ/P&_P_U2!HL*DN(27/<6EL-@;K4I)2HGJ$H["LD]/P`T14AY
M"D=Z3NG?IML=_P!(V.B*M"@M(4`0#OT4-CT.WIU_#1%5HB-$7/#[LJ2?MR>6
MJO@GBZ83^/\`A\+T_DT1/UX9'?Q$\7C_`/X_\1?YB4>B),^5OB+@_E!"P%_(
M,@RS#<SXIRY'(7%.=X3:FLO<6SEM@142@VZAZ!:4#L4>W,KW4)#^Y5[@.B*%
M%?\`<WD\0<_)\5_(_A/.<6N:J[6Q<<[T%(\WX].XG>/5T#`,X<R7Z9(IYF;S
MI"V7*]L.!$KN6M8``41=9Y5NM-9/G)2J0J'"D3DRI*6'FB(T26_$840'>P)E
M-(._3N".[J@A1(N-F/>=_)F/?;:I_(^XM<0RWG.\SC)L$H&[Y?T4/*,P<S&_
MQO#JM2*5U+[2H26&$@-A25(0I2]CL"1-37?=:Y<D4'A3GF3\0X!2<4\]X;'M
M^8,]D7UK,H<*SX94O%X6&LV,6:JRQZNL;2.IYB=-$F"N;^Q=0T@^YHB?3P"^
MX[G_`)<>3_*'%5SB>%HXTK^,T<K\59]C:[:+/OJ.-R!:8'<1IM3=R)8EM0[J
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M^&:O`9KDUB-&#:*V`RQ]4T$]LSVP@]HZZXS1%XHTC-<FN$DYD`(%$EA]K/Q!
MCQ,O:3@=VU/RF/#BU.2?O);/W/&D.NO6\NK8O&#\R6_^Y\2LRWWIK+,?Y-WU
M)/0#7#TS^;5W4SN%>(L,X.XLQGB;C:))@X;BD"RBTL>TLY-M8_46$YR;+E6%
MG*!D394N:^ZZZXKJ5K.PVUJR;0\Q.R;A@NS6VKF@2AQ-<?M5.NY+:"?EW4A2
M=PX.U+7:IPM))=64(25K([4DA2NX;#4\-;(W2W]PY+E+'"0615#3A]L5S\^Y
M>IR;X?\`*\&LY8RCA>79(QVE1REAU)=9#.PJ39W\**U*N*N@E5]J[C$E:A'L
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M:U6ZX?\`*[REXB;\BWY>2\K99Q[D\#G;D*)3R\`M)UIQ?:Q>4IN/P+[C;(YT
M2:^NLJJ-UNS+3B1W-(`CL=A#@F74L)MRUH(DJ%RG8'1TAP?7CDF'\'/*SGWR
M9^YIX\1.;KJ5DL3C#D?F/#,&SBTP"_P^/DM/!X]FN4]RPQ;(:8=<EPO[JEEL
M!3K@<)'=L($4#Y@=-$@=-'YBOI>\64,M^3GGZT0=CS+QXTO9K8%+G"N$-M`-
M$[$!E200.GPU)$+F-Z9(J1]Z[/D<Z0/Y44YYJRW"G+2.XB%,V!WZ[QG1\.OQ
MULN:AUX#(/\`5HQ8K3T_>3.T?'_N67W.Q_[;NUUC?HKW+#I.GCVJ8<EA#C:T
M*:0ZTZVIEU"T]R5(6>H&X.RC\"->7W2Q]23@K2VNJTQR3?6[$^C2)%4ER9$6
MV%NT#[B5J[6E]CDBLDJ)?C266TE20!L3KQXBW.RO'-CU=!IPY`9\EF1VMY=S
M2.Y!PGCWF_"Y.$9M7-6V.+D19<^/*<?B7]/:@I=AW%6_$4BSQRVAN]JFW6R?
M<`(3L%'7LK'?*`02']1V"YMJ#JXJ+(Y8Y"\/<FH\&YNDY'R)P5>2W8.)\ZQ:
MJQLYW&$>N96_$I.:)D-B9]6A:NR/%N@VVT\IQ+;SB=M]67JCS42[(+>W%36P
M#DC$.0*-W*L-RJNS&HEJ'T]C6S(S[/N)2DNQ'4Q"\F,[#=4XTX-E'W&U#IMJ
M3#)U`3Q"A09%.&)D5QUM33RG>Q1/:HE#:65M]JT)_MRLG<D@===E(3&V&8V>
M%\G1:>\C4L+C'(8L.%C62RM_JOWYF+<2[C<B:'?_``>_)9;4\RXO9E:?D_6(
M&B)[HRQ[27G%-H;_`%%.OJ+`]WO`"4K<'9V+;.Z=^I.PT16?S-L.O,K]IIQI
M:"ED/(?>=8<5VH=2$%M#:>A)4H]H&B+-3(;4O8J[4!1"SLHI`[$*26GE)2W)
M05*([T?(=MO4'466?IOT]B*VN6TTCW7EMLM(6H.E:@"$#]5:!\>[]/36C;JK
M@,$6%(O:Z,IA+\AE@R&TNH+SJ`VA"E`$^ZG=#Q0#NH(W(`WU-19[TV-&2Z9#
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MZATK07E=]55SH4>5]`Y/8=CHD#;=IYQEUII:5GJ/[H1_'H%7WEIFF_Q3)J*L
MB,8).3%J;>DJFX7Y"XM+*WZUA3;+*8"WDH5(4^M)='82L]QU@W72\%,E7@4'
M1."6TJ&MYR47A[BG%LK0TM+J&$/1E.A#ZHR%[F2ME80I>_=\@(ZZQZUV7!=Q
MMFK]8C+'XA<VF;?*/$KRAL,39HO<\4><Y+^6VV=29*(6-\&\W6S,:')A0H90
M(T'&.0)<<2GU)<4Q%FNG=0[E'4#>=L]78NFI6@5E:$A_953RQF7OD=[2LMQH
MS#;4"=5PVY*7G&?K8YE2&'DH':RZ>CI`*@0X"DE)U\>]O2^GW]\0X.5P[RA)
M;F7=%APJX\E*@.6L>?[=R4L_^"\@C]O^O#BW`H[^BFQKT6X7?_\`L#,<:K52
M#2E24A*R2I(V43T*B!L5$?BKUU[BW.HZN9_%0'^8]Z]/I^LE(W0"I2DH`!4`
M?F60D';TW.V^KIOE*U3<W.?5>/KN9]\S*:QFBAPIPR6"?K($]<UY4946N5$#
MK[\J`LCWPW^KUUJB;W()W/M9-D7V-5F`9_CLN:RY24S42QI<BAU;W8INT=L)
M+ZC)E!E75"D)W(U,AITZUIBLIV)%K<(<D.R:.6TB/1IM)"$+;5(7,^B6\J#'
M;2`E9+[11N=B?75/=4#S7)85ZFLGK>MCV3U9)@_60X,_Z9[8SH9DL*]Z*ML=
M$K8ECVU#U`Z]#J-[A,3_`&@\P$4Z9P'-=H#X@FUP11<RW/G4*4XRN?6=J]M@
M%"FK-T+W]%C]&O@W]M&7#=[F=)7IZ,.^JMIOV!W_`(+1\NN28N4\&2Z]]F+-
M5RG&@27E`>\YC\FDM7+B-W@%:(KCK$92]NG<@;Z^I[O_`/SL/>%#X)XLCKG;
M6D32H>F14V,J/`GV=58MT]C`A3$NATU,UQ#F[JG4';L23N>O77OI*EV.=!]R
MA/\`.4A<*X<Q+"['\UK:)Z1>O[-2,MRJWE9'E;\9>P+(M;9V4]%2IO\`[G%$
M=)_#6BT3F,8[3,-I9CP@A#!?:;2I^0X@190W=CN-ET)>9[R24JZ*WV/31$CH
M?"_$T&\:R&+QWA35K%>,J#.8Q/&V'X<QP?WQ*BR$U2I;3KR@DK/NDDI&B)QU
M*+2!N2XOJI;BB=W%G?=1!*NW<`=!T'P&B*VW,21[C@"&N[LWW'?W[[>BBD=O
M=\=]:$":!S3P6]WYQW!-%R6M32L)EI0ZXQ!S&GD/=C275MIC2"TXMU+,A:4,
M!#I45]VR=M_37R6_VT0;L+D89CYKT-GC9$<<$SOESYD\2^+6`P;W(K^BL,VR
MJZK,1XJP%VXBQY>?YS=S$PL>Q03&TR6JAVT>=*E//=K33+:EJ.R5;?3]J_X8
MY45/<UXYJ#."93@G+GD'SC@OD#RQDO,>=\!X1BW,.8<`(]K&^'^+TW42-<5%
M95-/)B_T@V$1U*GHUK*<$=#.R'&E!>M(I?3WADYJ/,?]G3M<N@,+F_A2_HZ:
M!9YSA6,S\GP5>5L8G>7])7WU1B\."W:RYL2L[UR8E/65,A$A4EI"HK02K?M2
M!MWW"U&ZEKO\)JN.T&@!`J<5A8?S!XWVSS.64W.O&69,XW2OT3]\WR'C<ZNK
M?RF.W/OY#L]B4U"B.HJY,:5*2I)+<97>#VI)UUMK<6SJJ+O-J'2>($8IT(/D
M!PG,A-W,+EOB\U3D:Q?$R3G-%#95%J6(LR?)[GI0#*(T.='=<2O933;R%*Z.
M(W[WEZ'1M;R*D[="(6?`+56'E3XZUV-0\OE\Y\0PL9L;*RI:[()O(6,QZ:?;
MTR:\VD"!/E642-.DQ#9-DM-N%PI4D['N&J_U7:%8@D\%N)WD7P563KZOLN8.
M+J^3C%.N^OV96>4")=34?2-SX]M8P%24/0*F5$=2IJ0\I#;JEA+94?68QVIH
M=S"AOQ<:\UII?E1XZP8^(RYW.'$,2OY#1*7@%C.Y`QF)7YFQ%[6GI6/2)EE'
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M?AC_`,D+Q=__`.?^(_\`,6CT121+(4=UDJ"25-#?;VE+_NA21UW7_8T1(3,^
M/<=S[&K;#,OJF+_&LGK'L<NZ69&CNPIM791WX,IE+3S93&(1)[FEH/>PH=S1
M2L[@BYB<89=RMX0<AKX+YJN,JS#Q.5B^.5?!/D%=8].L+#`9:Y2:Z/QIR-E3
M*939JZJ$EN#'GV2VUR4@A:BH[:(I0T_AMX<0$7+>*\.\>&KS"S-E<5$13[M5
M,M43E9%'NX=+*M'(%:ZQ-6]-]]CZ-1]X_,I)`!%%3SXX4K^,_"K.,S\0/%[C
MS+_(#A_#WHWCSA%#AT/(45]Q=WT6(VJLQR-N[DJ/HY2YPBEQ]HR4>XM:?71%
M:^T'PER?A/CEA_+7DYX^<7<)^5^65MI`S]&"8HWC=K*Q-RP:DTR+.+%7.K8`
MGO+5+D1X;C,<RG"YVE6B+KZW+"E-=Y9;;D*2(ZENAM3@W'?L%@)4I"`3MN/3
MUT1>*M(['U#;I:"PLLI<2]W(;3W;H<7VH4$.+1U*=R-OCHB\5,:<5WMODH(3
MVEI(6V=@!NE2NTGJ/P]=8.29X+&#Z@=U$%(/4$^H^._\6H/JSS6_HPLHN(45
M%G8("DEMP=?<`W[P0>@V5IZLE:]`18\UB6-@ZPPXL(1(#,69*7']P-NK;BQ7
MG@6PH$.EU]*&^U/4=Y4>@UGU1[$7)61]UW"(5)PI?M\8WKE9RGCG-5UD1C6K
M:AQC-X@C7;JZW)WDQ'(\9623Z946*I2@5O+`2#J*U^J9SNU87/O//+3G_/?*
M?ACRMP;RJJ,-\7<%X0SO-.:?#6.NIBYP<MA83^_6(\3WT.3,D*N,\S3&X,NR
MAJ;0'8<*`ZI2?>4VV;;7TXB_DVJ+K5CGW*O!O*.!&/("UYIQK%>,PBD8S*QO
MH=FHX-8741NSC5N7QU44E=5(:83[@>F1V606PL*(ZZAMD-Q05P1-5Y.Y9XV>
M9<&!X><?^8==Q;R+R-6X]DJ(G'<#!\GO,RXTD4DBTCT<)R^,C%TP[FF?<EH"
M75O%.[@82I9(DQ0=$=Z+0?;6X<OO''F#RN\7<-J45WC+P_*XG/%`G(H/SC]]
M\JQM=MF2%.UU='<9IU3&&Y++<DN.,K?6EAWLV&NJ+H'R+XY\.<P3L?NN1^/:
MC,'\3EM2\49M]W:ZEE,../-S8U<L]K\M4E86I4GWOE0A(2D)&B)VDT;KK;:)
M+;8`C.MRDN,1)'O;!#+;2FUQ?9"'8#*65CL/<UN/4]PXS_M_%%R@\O8B(?W+
M?MCP(\8M1?J>6G'5,A#3)<1B5JS[TQU+1D*[VV$)&ZRE(1L!KO8Y'G1%*7Q>
M*SY/^?*CW*)YIXY/O!?<R`GAW"`E7>0"$)">O3IMKO+^XW`TH%GBISRP#$F`
M]08DK_O=S4=841/`H[^,6+$^O[U\@#?]'[W6^BU<QK\'8T4P]SL4_`_Z/X=:
MN8UWF"V;X/+@L*2VTD)46FRX%+4ROVDN;%:/;7[ZU)4IM!3TZ;=.NM(X+6=Y
MAE:"NG5?G50#D^9?`EOYS2/!&)D-SBWDS4<:UW*,/ZJJC-U5QA\E$AZ37TEI
M[GM3IS32V5/L@%89&_0D[^,WSVYN$$GK]O);&SQ<_O!3JR$4JE%X\^77$'DS
M6\C7V(,VC#/$'(V5<)9FO+:]NKKG<UPV0AJW@-SY+BVD8\S)*9#+JNH>V`.W
M37';G[A(X"X>7?`#[@%A[NH*.-5@9CXF\-9';P^2,!R>WX%SB=(L)L+DGAK)
MF,:B7ES?/!UM^ZHF6Y&&YI?"4ATN)?BEQ7NDJ42O?7K[4&.0,&#7#%<FL:P>
M%,[9<G>9_CUE5:KD;%*'R2\>ZU7T^9<G<=QTQN6\/+#@:<G7V%4_][Y';RE+
M2[)3&2%-H!(:]!JUO0R*.L6#J+;[E"'+?NB9)R)Y0\P\6X]3<4.>._'.)7]U
M&Q;E%F^X\Y7Y+1B'']GG2\^XV7E#5.<@BTF2(8B/1$-L/I3^T3W`=8.WS"YJ
MU^)'VX+2_)@:#'@:#Z]Z?W"/N^\&VWC:OGC)L;YQQ[+\09Q3$N1.';+!Y*[_
M`!>VO<<_,QDL"D>1]5>TL:K4JQ^I1)4MR$RIP-`C7&62>.YT5_3H<*!2K9@D
MAUNSYI$<D?="\?N1O('&^%+*PY/:X,QC!3<Y[R5`QB10X78Y]*PF3R1CM!?9
M:EM-LPV<!BKM(B(B$)78%F,M>RE`YZTG-=>BSB.*757]X[QY@8S82)''WD)2
MN8O)QFDK^-[KCN;*Y6S.LNL?MLT@9I0T;<V;,L\2K\$II,V4I3C4CY&NW<**
M=<)&,E=J?BY1Y9;:$%KQXN_^*VF5_<JXB1D>0B)G&85$2%@T?.(,2?QN_,?D
M8RO&9V837[=M\(3%M8=8VTA#26VP>H4"03K00Q@Z@,NU5;MQAZH8WB:+"Y`\
ME/+2QY#KN'/#O'L`YQY"3Q-COD5=KY=CMX3056/9/>_DV+8KC"H"VA%7D$),
MA]YUY9]KV2$G;=)L+>0O?1_E4Z4EH.G---RO]Q"5CF?X_P`?-XKS?'M.-6<Q
MS+E;+>-\?M<OQS#+'"'J./R9ADP63J6\MQZ#87:8T&>T/:BE:2IOL!4+;HQ4
MK1<[![II)&R8AH%/GV+I+XW>6U%Y681-Y!XNQ'(:[':_,I6/UXS%I%4YEE'5
M^U&MLXH68CGO2Z`V*UL,R>XLN*95MZ:K;EQC?1F2Z7!,;O#DOF[^\ER9CO%W
M-?C;1YC@7`\CE3-\FR_EOR*;YI9AVJ+_`,=>-;@,X;14\E?MQ(5]8-(4]61V
MV%/KDL-+,CN.P@1SS%Y:XX5Y(PDL#CF0IFY-]QS!O#?*^<:SQO\`"K/;[AW`
M>0^'W.9N7<:M)EOQ[BN*9=@M!9LYFEM^XM?RJ;54MK'6(,9/:\6B5'<JWL'$
MB(NXT6R[FW&=X9A:8.67>9W==CN84$&95L2H;C]/#JS&5D$>TE2XM&7*V;+@
M.]TE+K_MLM[D`=#J'UI.:)\JR='GU\*RKY<29!G1(CT:9`>^JA3FG(S,EJ="
MEE2TR(DEB2@H4-O0ZD0N<YI+LT6W;)*`3ZG?]'H3KLBKT1&BW9(^,U8:%4J0
MA8(6A*PI)20H;C8D'IOZ*W2.OKHM7DO\V*:;E-#\6)4W\.$W*E4V2U3[JI$=
MM]*6)3L.(\XA3J%]@;0^=P-AN=_4:T=`'^(JGEC=ZHD>4)P_>2WVMI<2I<<;
MN/?,XE7>-FE[A064I)!Z$$@>NM!;,&)!HKJ&8-A+74H6KGSY*<X8ID>(RN+>
M/6Z+,<_SZWE\9X!C.3Q%RJ7);^(B1*NX\CL:3`G8=358?E6+K:D%#;!"G%N`
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MRZ'N!>-*^S$O\R@45G7VT"S=<<E1YPN[-F0Q(:<4KWRPA`27%@K*@"3OK2"1
M[_,:X(I/H:"05+0@EU27"2A/S*2A+:5$CU*4IV'X;:G:W,&EN2*TXM:`\X&5
M*<;6TM`7W++Y:20WL5]VR$]Y&PZ?CJ-)&QX)<*X(HN^,%[?9-@)EY`Q.K<N&
M9YR]EE3<292;*BD3LFL)5/';4\@1'8!JHR.U"0`D'IUWU6/M8I=M=94)MR,J
MG[\U8VS;>M:'!.W(A1Z7(VK1#AKZRR6(UO[A9`C22TTS$?[0GYPZ(R&P3OZ_
MIU\WMQ8^W+Y\@;IB<*#L=\2K21C#!32-7Q21RII7]-G$C#JI;T9NDSZ8I#2D
M"$V\W%IVG/K.\$(<88D'V7!LKO5MOUU;6%]#O-^V9_BD!P^P5/.2QU&K18A8
M6*^7.2,)R>=,M6&8V-YKC+,UQ4A%=1%NP;C$AF.TJ/:ILV@7&@Z4EL;D;G7T
MFKSB_P`U%")+C4YJ3!;2G=3B6E.#YEK"2M*7!U6MKO*B$A6Y'Z-$5H.QQW?W
MUV!6X4HA!W_1U'0G;1%;4X2V4-.$-M(6MYP`^ZW'!"W9#&[2V5.M;#HLA/:2
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MR?@G.5OY"6/(>5VS%%79KA621ZICC3`XZ8J:QW/N-L/:@F(G(G*Q#C:525/.
M>[*6D!.KK:O4^B#=7CIR'Y+2ZZP%$X6._;-YSXLYXYKS/C'E'',DXB\@>'L1
MX'R^/R#5/7F54V,U.-/U3^3T\M:R[,MYC[[;@9?*T``(V[$)2$T9BCU3FL]3
MCE],D@:9+?3-CB>Q,5DOV;.8LOY'PJ;,\@\;R[%<%XQN<!IYMQ30#D6&-6O%
M]YQ@SB>,OQ&&XYQ^TDW)G3T/%U17$`5T3L+K99FN8=>(HNT,;+;&`:7?/[TC
MN4OM$Y5@F$<+\<<>P49LK(>8O&W'KFQQ6BJJBCQ;C3CZBN:SFZ9GDMB*MF;1
M9QBSS,=3:PM4V2$LGT2!SW":2.4-8:-KR4:=SKDZIO$4[/,OV5LFSO.>;T85
MR;CF%<)YO3YZ..Z=G'HLBUH;/DZ#@46QCS7Y!0)='%BX-$8@%&[[C14'2KVT
M[;36++B%FC"2IKGBMXIHX!20>#@HO>6/V_\`/N!,(EXEQ#B;_/E]R%4Y?B55
MCM1QEC>3\;8;2YKA^#8M/R>TJ'I:(V)9'!R*C,Z/.2T\[V%?R_+J-_2).U0K
MC=HXSX<$]%W]F;E?D'DW'>4<BY4X\E086/4]+)5+I6+O(',:KF,);DX++D(5
M]/;4..R**2Y6-N!8/N;'U(U9MM3%"UE#J`'-<KJ[I;MFC(#W"M4SODU]O_DW
MB+(,-XCX8X]O.<LIYMO&ZNWNF^,:6;QCQ3C">>9W(IN*N_6^PYQKDD?'KQ27
M/IF%,/-PPEL]-0296S`.\BD;?,V:/]7%WR783E?Q5\D<:\KY_D]XS\A8?5/<
ME8%@_'?+^,<D5;5K`LZW#9[Y:RO&WV%1I,:[3CTZ2V&I3RF-]MFST([ZV\A\
MU/TP<A\RH-^1?VQLKQGBQ_,L18K^5<PP['O*EJPQ&IQFF5F>13.?+W]Z</M\
M<N)(<8K\UPK.F8BWI#_>!"94=^]M&RH.2XR:01HR76KP:\=XOC)XS<5\8RZ]
MF)F36)U=SRI81W_JK*^Y.OZF&_G5O9R4]9<Z3:]Z%NG92^SN/4DDN:F+OOU'
MH>HW`3_8'0?P:(C1%SS^["VES[<WEHD@*7_1;.*`X2AG_#H._N+!!2?PT1/K
MX8$'Q#\8/7Y>`N)4D$=`1@M'N$'8=S?X'U.B*2^B+U>S@[7$H6G=*NU2$D=R
M%!2%>G0I4`0?@1HB3N0TD>[@/UTFLA6U?8"2S:U5@RW)A6$28D"1%?C/!;3D
M:01^T;V[5C;?1%"#,/MS^,5S2747'L+R/C&9:,VCEH]Q%R/FV&3[R3<LR8*/
MWAC5E['1;5];*FI6RRI0;0!V)2$C;1$C:_[>UK&QG%;V7Y*<N'R+P"FE8[A_
M/4"QA_7XOB[[+,9.!M88]$=Q.=CMO$AMHF.RH+\HJ05!T*43HB;3@/[BM+;<
M;<A,<OU]_P#T\\693FO'$'!8F,6+&2\N7&+(93CUK@E6S!EM/-Y@GJI#2`U'
M4H[=B02"*YQAF7W'^:^-4<S9SBV"^-EK51[F75^-%J]5W\C(J&,AZ5!BYSDX
ME3W*&[GPFR9$5IQ7TI^?MW3V$BC%X4_=*R+(^2_W7\L<ZQS$$\OW'*=KA>,4
MD&KCX+X_4G$MY88Q!Q;(LS:L%>]_2!`IW[6$Y-_OE_MW2E"#V:(NL.5><'B7
M@<F)79AY#\2T\R=:+H(:)>65+'U%U$7$3)@-NF0HLRVT6#+DCWFT,-M+"N\:
MP<D6LR3S>\/L9R.RQ?(?)CANEO:54J/9T,W.J6+/;D-,I>F;E;K[+XKX[B7%
M--J#C*3W.]-5/1CXCZE=>O)S^@6N=\Y?&:DC.G,>7\$XV99RF[Q&JCY?D]-7
MN7\FE:AS9-_627IJW#C3C5BR?JBRI`9[COOUTZ$7+ZE8=(YXHXU2NA^7?C'D
M7(=3P]4\Y\>V?)^1M-G',#@9-`_.[=]^"]+AL5C\>0\RN9/B;N=J22Y$6A7:
MD*TZ$7`?4KGW*!)^SMQ]8CS!83R[GE?1>5W*&-\A0:R(W%<B\/QZ#)6\AN\3
MPN-(8[&Z')I(>BRDH3[9:<*T[$[ZV:QC/*$6NR/[.G'V2\V<J9_6<JYIB^%\
MN1+&5:8/$%4]"J\B?X^M.,F83"I,%QU%+7TUL_+;:]P-.OK^<$@$=7/<YI83
MX2*%%8YT^SC@G,<7)FXW*N34ISFHPC$+^+,KJVUJ5U.,\43^,WIMQ32V6X\B
M;65TI4F"OW/:CR0ESL*NNM(@(:=/!,TQG-GBQP9]N'BOC#FC^D;,\XR[A_+L
M`<XEXU=AQ$6G)7)53Q58\5XIC*F*N/*5;/R85F+-:"H'WV5I[P`-3XY9)1XS
M6GVX(NI_A5PI_1EQ?^_&3Q[L<Q>0#T+F'G>VR)Q^1;V7(5W%CR(U#(A.S51*
M9G'ZDQX,>)'0VE@1E']9:B>B*;/MLJ!_9H5WGO*B@!1)Z]QZD@G^$Z(JE`%2
MG#N5$]Q.YVW#1:'R_J_J';6KFM<*.R1<?_,-Q:ON:?;,4I1)3;<LL;?S5-*Q
M>\!0M'ZJQM^(ULS],49@BD[XJ@/>4'G[WC<(YIP,)2/E0`WPWA:DCL3LD@$=
M=QUUL7.=0DXA%-R:=H,\^G]X3?\`O5W6J*(_@G_R;<5V_4.2<A*&WZI"LSMN
MQ73H>X`['XC1%,'1%BN[!2N\^NWM;'Y0=AO[OPVW_'X:K+Y\UK^O&UQKR!1?
M'CYV<=9I=_=T\MN=N#X-A/\`(SPX\9_&[R$XV8KYB?S#(Z6ER9ZKY$P>/$2X
MW$EQ<^QBS?9"-MTNUS0.Q6-6NW[F^]LWVD\9#'-I4C@E%#7A[RXXDY!\`\IR
M/F#C'+9=EY:_<PY:DX[QW,Y0M.#<"H+QF!06EE6\R9HN[IJ^OH6+&.\&:]^4
MT%/*(=2H*2-<O001XL(0J+\[-.1H_P!MGR6Q1_D)O'HN'?<YQ+&,5B\4YW>7
M&!8AC]KC%-<SHW&6</6C$R=CCJGBP@I4\PM9*VG%CKKD0UMRT<*?BB[Y_;9B
M47C]]VCS"\;,+S/+<9XM5P]P/G;.`9%FF2YK76^<WV)2[.QS*-<W4]XQISK]
M@`ZT7O:7WIV&P&I>Z7-LR$:GL!IQ("!=8.9_MP>./D'G%GDW.PR_DVKGS["W
M5QEDN3RI>(UM_/HF\>BY!5-RGDS*80JF*$(BQW!!+B@HI4GU\;L6\V$=PYD\
M\3/$<W`<>TKGN9:]H#34X8!<Q_+CP9X]\/,,R7E^-*Y&Y0\?Y5EBT?)>-GLY
MEU_)]!F$[''N,L4=P/,I+2_KV+2NM&*>1#DNB,S$E.*0II0"AZ^;I7;.K:D2
M.K_+XJCG@IEF^,0:2X:L,*K1^$7&'A]Y:GE_B^?PW1X+Y#87"+V38H_R=(Y"
MPN391>.7>*:*IR.HI;@NLOXQC*D1I]>2IUV3%,A#R]R!`<Q[/."._!2"]O,?
M-/7PC]G;*:'B7G#'O(KGRPY`YDY0=JHG'W)F&N7%".+AC>&V>$5%%7H6^9C%
M8JLN`PAMCW5.QDA*^@.C8W/;J:"6\QBH4]K%<DOU"N6:D7COVC>"<DXUQV@Y
M9=R7(^0HN.5.,9-G6'Y-8XDY>4^.T<W%)-$W$KWF@N-D-"$P[1LK<,E6SJE-
M$[Z%CAF"%3/VMHF#P<G`J3W+/@CP]R7;8S?-7/*'%][48)#XK_>;BG,K?#\A
MON/8<^+,C87=RHD@-26(,QI#C4MM0<;0'`A0"E;R+8%LE7`@*SF!<TTS3;9+
M]O[`:NWRO,>'W;+&^3)N'\LT%-D&73['+::9.Y:I*^HR6'G%=.0Y*MJYZ141
M994%+^=LGT).KCJ,#<2%SVX&.60O!`(%*IR_!SQ:JO$+@GBSA_\`/85QD?'/
M'\+!KV]KT!JJ):ES+N;!IJQXKE0(4RSL776FW?F4A:2G=.VJJ[JY]6XA=+JK
MGU;4K<Y+X1>/V9\F<R\NY;@\'/,WYLPJ@XVS&1EK<:_CP>/JVIFP8U!AU?,;
M+-"ZB1,+[SK92M+A[B1L-5L4<@>201CR68P0P`YT42'_`!F^V_@<S*_MYY%F
MME'SKREP_%\AM.,K[+;9_.LGH^.ZNJQFHGUD]MM2HZH[%)%04-@CVVW`=_FU
M9NPA=7DMBIX<7\C\5<M-9=@''EY&RW&N+,@=XDRR)'JYSL&NRG%*F#26^)VD
MAWV39L1JV,.[8'WO=22"G4!%B5V98-QQE7&/!F+V::^SMJ/(\NA8E<2KAJUC
M8?32%%+U=-:<=JTL,6\EB*F*ZM+C3+@`3L-28'-#2"0#5$NF^3XV(45"_P`J
M/0\5FW<R92MR(;DN?3MH38O_`$"Y-PT)$*L+S2D)]UYP!:O0[=-2PUSL0"0B
M>&'/@6$=N57SHD^*XE*FI,.6Q,9=0I00E2'XZUMNA2NFX/4ZU19A!">X_JGN
M^;X?+^MU]/E^.B+!E28[3`D/OH;A@`N.^X$I^9Q#;1"P?BXKM]?4@:(F_P"1
M:RRR'%LCH:MX-65C2RX-0\AEY]5?:S4(9B74KLW`9KNSL(/ZI/=ZC?5A!&QS
M&^(!Q[OE\5ET;#'K-*J/%[GTQSABTJ\ZFU\#.K)VQPNZJ*FU6U.G1)5@:)+U
M1&8VE&:W"BA\!H=R0K??8[Z[3VCQ`^1H):&$X#\50W<[V-+8QP4:\$P&/>_<
M-K\AQMQDXCXQ>.#'$]U7J['JRLS7D-<2^@B(PH*AN3W:N.3+="?>2ZLH6=U$
M'RMS.YEJ2\TPXKKM39Y7T<TU[E([EF!D3=[5WN-NSH^2U%BW2\?/1K25`AWL
M3(_?1>UF0HCJ2RS##B2XAYXI2AT@@[G7RUACO-]C)>VC''CE5>V;!T8?$"`1
MW)[\'H\9PJCI6(M0W2SK-!?>58*8=N+FS,-M=N^B6M;TR6L+*P"5E19`4?E5
MU]I'L$$N\QSN<!#_`(J^'YUHJB4]1]&8GLQ5S,\/E\ABKI/S=VDX[DM23E=5
M![Z[(+Y]:E(JHT:R8[UQH"?:6EQ1"20-CJ^G>8YG1QU,8<0",0>X\0N18X8$
M'!<[,MY:RC'?N18CXHXO+Q_'>"ZKPBS?GR-CRZJ&_*A<DUV:QL8H\ACS'HZY
M:6ZF.C9*'RIN1W]Q[M]]<'/DD&@-=\EJ"'.TM-7<DTW`'W+^+>/_`![K\DY5
MYWLO)O,LSYMYKPW`9_!OC_DDK(+-KCC*)2<A@+P*BQEB5)1B!*T2IY)CR"T7
M6R0-6%LUS<Q19/A\V"DGD'W>/`K%?&/%O+S(N:)\#@[,\Q<XUK[]>*WLF[A<
M@1I7Y78T-WBS44W<"?634$O)=9:+*.A&PWU+<YHP)%:+4$'$%+?AC[D?B)Y!
MU/-5WA7)DZJB^/-/(O>48N>XY?X3,QC&XE.Y=2,N527L:!->J)=<RI+,Q'<5
M./(2E!)&M"]I!H1DLJ-7&7W>/!3R2YFXG\>^,.2LFB<E<QOM9#A])F''N;8>
M_EF(5D&U5)LJ2SM:Z"Q]/<!O:*7BI<C8E&^M-N@D,9$S2W#B*+G;RR!U2"%U
MONZEFYKID26TE,IV*REWW)#[+93'_:Q7>]3*0`EUH*4K\`?PUY+W-L$=ZVKR
M&L::UR&7-75O<,`H]P``XIBJ7,J/(^5Y\6NF&998-B5K69JIQQ3T?'[*2B,\
ME.ZTA*&K>'&*VU']92`1\->;]OPV5C>=.*:-SZY!P/XJ%</8XU!!3X44E]^3
M+GB)7M44E-::BP;=:<DNUZQ)4V)+_P`SC@5W[E*B1UU]8BU3TZ8+G'@,5#=(
MR-M7D`=I3;\D^07$G#M4ISE'D;#L>4U(%<Y"F73`L)=A+1O`KXV-MKL;:7+>
M2I(2E`;]Q1V!&XUT,$[6ZW,<&'C0T1LC'^0@]RAUD/D7S?Y`XU7U'ACB-E02
M;BS4F[YQYOQ"WQ_#Z&IC(5&,K'\9R)8R#++`S4E@Q&HK;;/<%*"DZX.>QGF(
M'>NH:XY`E*%[PTE<CUD*/Y)\Z\R<G6$;Z&RNL<Q/.;'CC`OS5F0RAV/5T6%L
M4+SM4$;E4=Z0%>VXH+"@#M57V\0V3FL$C/$":5'!2[>/`AXH2<*IYN/^&_&K
MB2%%QOCCCWCC$XM=+D"3%H,4C6EN_.<D*6(2[V>F7*E/3EJ#CI4ZLNK)*M]M
M<6;W/+^V-0[,5)$3#4U;\:#XI](]_`JRIA-?/8984I(C-5A:;C!*U$I;98:#
M3:D$GH@;`D[:\YMGNBYCN)&S-+1K=YL.)YA<#LT+CJU9FJRU9ACLYKV&IBF7
MY';'0B;"=8=4ET]BFT+D(!2I2"0!OZZQO&_LE87.+=/>*+M;;;;VLPF>\!N6
M=.[BD]A5A6557,JY#L-N/4W=BS!_OQKV40I<HS8,E#I<['%NE1*-NNR>GIKS
MNS^];9]\+1DT1=7(.:3GR4BYAB>"]M"U;.WMH]W!D5>.S8\N8XJ.AV0E2PU`
MKG'%)L5A^.H-ID!+20UU[@=]M>VW;=(7RB(O:+@L!T5&JAXTSQ5:PQM%`13O
M2DJZRM89;1%:(B(2D++;!9+S@!'O)0$I.ZRHDGU)))]3J?LEPZ']_P``)_FP
M^];.<W3F,EMGTQU+2ZMM;CJ%)0'@DJ:;4CN4E*E_JI[5;D#X$[ZM-Q>QTP+2
M"VJA*TIEN2$-;(44E);/>&PU[6ZD;$$=H2=^T#T)Z:EG<K>W@;I>PO)-:$&B
MV%N+C!QH`DLQA>.1[21DD6K2BW<'=]3)[GU)E#N;[$L+=2DL^UU"MCL2>NM/
MZN7Y5/<%576ULKY@H_\`,DFDXC9QJYI%O8_)R?,J&AFLURY#L&3&LY!^K*JM
MMMX,.-*).T<#8=?CKT,#XY[8/>0'$#LX*EW.3H0-BJ*-%$],;/*"$^\MR)=1
MY"&F67Y+U*['94P`0PGWDI+B6U)4>P`$@$[#UU47T)Z;G1@N<!D,2NVT7#G1
MX&H6XHLWQ/)%."DO:NP>)6EZ(Q)]UX*:3NOW&G0G=321L=^H'\>O/&:4.TEK
MM7*AJK<W!&9H4L8S[<@)4"A1<)2TH!)]SWMUK""-^\.D$JV_6/KJPMR_03*"
MTUPKA5=H+B.0>=I->864.T*)':%[GN(V"M_CW$;$G^'4BH.2G-BE<*M:XCN7
MNLKGE@<T:(N>'W903]N/RU]>P<7S.[^U_P`/@[;_``T1/WX9_P#)$\7OP_J_
M<1;?AM^XE'Z?HT124T1&B(WVZCH=$1^/Z>I_2=P=_P"'<`_PC1%B+CL^]WN^
M[VMH4^%,%0*U+!/M**""LI5_-/31$FHE#&>=1,F4E1,L&E%R-8RJR$B='9.V
MY;EKC_4-2U$#=25!1`ZZ(BUB-2T.U3;RHJ"Q+#;<2,VI<>1(:=9$^&`$MB9$
M>>#H63L".X[[:(OEUPK[3HY4SR1CF'9I6M<58&WY,P^;>3*M,N)1\H\TYYDE
MLK"L7_*9;KMADTWB"/9+9E62F4>XZKVV]V]B2*2F"_:,Y-9P[E&YYTYDXRS3
M)LSXOY<H+3**;"H,>B@6'("Z61$R."S)J%/1E8M68DAV6IGM]]DJ0@[]VAR1
M,+XM^+'C?Y[V;G(GC5Y,\;\O5O"7+7D?7<B6$/`)<&4N?R_Q/6\<5U'-C7./
M5KKS=4_4*F,..-N^X%]XWWW->6/Y%83Y5?V6,UI[:@?N.6L/R9F@QGE.B]F9
MA%1)?+^?8BC'84U@3*8-VAJW&DE:5N)^0JV4%=N[0_D5FB3O$7@1Y+\8>:GC
MM$QFE<M_'CA[DECF+DG.<GHJ:-(M\Q?X6;P&778-9+E+R->.(GPVUL1%`-QE
MCH#OOH&/!R*POH^0S$:3VO..H<8[T*+CX64)*CMVK1VA+121VCX#H=;=&8XA
MCJ=RRLLO1NP`NM*0XPIQ([D*+K#8V4I*=S[B4@=?76#%(T%SFD`9X9+"UZK"
M)+CE$=];S:V4/]JA^R5'V0ZTM+*RAJ5[JEMA#:B$N=XW.VM&X^7%9"YU<G1E
M>2?D3P=5X.J*[@/B7R]<9UR[F$Q+$FC<ST8G9PX_&-6F4GLDW\9O(G'YLMGW
M(43VVT)5[GI+A:6@U%$24I/*/EG(O+O"FL??Q>3XH<D9GF/#6$UK5>MW(\GS
M;CVOL963YTS:J2IMS%F;.$[5QPV24H8><4?EZ=T74^*6/IV4L.H=:#2`VM'0
M*0$CM(2>H&VB*M[^Y+_@_P!4:(N07F%_Z2[[9?\`Y<Y9_P`V;O1%)3Q9[_ZT
M/GT$MA0_INX_W5WD%('$.%E7R`C?9/\`8T13DG_X!/\`]PS/^]G=$41_`YQ*
M_&;$=OAD&<M^G\YO+[KN_P#;:(IA:(L":PM22KVB]W?W-P-L;Q=AL5`+^9\D
M]>OII>G_`&H[D2'K..<1JLJGYW!Q3%VL[NX$>NR/,8M+"@7N15L=WNC4MC)8
M@*=?K8J0"AM:RD._-K%B-5NZO`)Q2,R+QIX"R?&Y^#Y!P7Q3=83:Y0_FEOBU
MQA=)88S:Y5*4VX_?2JV97R2FT6XTE2EI2`XM([B!K**H^-_!<BKL*!WACBYV
MALI]186%6]B%.F'.DT%>W1T<R1#;@&$BPK*I`2TMIIM*`E(!)ZZA3N`N8VGB
M/Q1*!KB[CFAR&[S*OPC$(F:WL6'6V^3P:*I@W=U25T00:RIL+=-:9QAU\9"0
MVD*^4#8:UWC;77$%0,4"3C5)EU8ZT,8R:)95D-):=K;9HO6*B1VKC1[9:$I1
M'CCY6TK3W$``]=?'][V*6R?U8P2:UR5JVRMW-!=3451F3%-E&,VV#<E8TI_#
M<FI9==E,2QB?FE=9-2DEIQELM;*2XEO8A0V[%`$ZL_;N^;C:.#7!PB`(^V"Y
M7%K;Q1ZV'Q5"CMB?@AXDUN&P\=P3!L0Q9R+]785V:8=+76<@P9DJ9(LC(<R2
ML:@7A4B5*4@Q79184C\>NO?6^[-N_P!\J`FFSOP_\Q:.+(N/&7S,O<=L7(K%
M3789S'"5GN%U5*],;?M'X44O6&]Y("5$$%26T=OQ)U._J,$)Z$1!&:PF_JO'
M;[O%S<QJW/\`SHX)J\'G;Q[Z9Q[PZS4YU!AK20MK'IIJH4:*X-AU4I2BKJ2=
M3V'K-U<$3B1?`KR,1&:C-?<9\EY3NQ2])DN5?S`@@*0TXR4H4@CNUE%Y+\$_
M*.J9$RH^XKSQ,R&O'U5$[D4:IE8Y9VL4F171,FJXS279%4)*$ET=0I(V^.B*
M..78+]WCB2NE6UWYG>.2&K^U4IA%1X]W-S,79O=H==G-T./3Y*TI:`/ON)[$
M(^4JZ:(E=B7'_P!X>XGXQFM-YF^*'(^'-S%S;_$V.+9-3*SJLJ8QEO8;7Y#&
MJ_>H'I+S;C;\A](4TKIMTT1<8O/OA#SU\@?NW^)G(.7^//,W&46GX=F5HSOQ
M*OGLR:I79ES9KEPK#D@0<5J:B8Q%5WE+Y0I"@-]]M<Y?VRB57C]A_/WB-P-A
M.;7O'GE5=8=QU]SWG;(>1:J/BF56W,F=<?Y=B%C1XIG^15]%.M)^1.6>02F$
M.R4*5%4[[1``ZB`L*8'B/R#R)Q3G7V\LI\G,LY)XTJ,O\??)VGR[^FA^1CS'
M](5IR!47&"X7FME9S5,1\N_)2CZ.*Z\VKVPL'JDZ#-%]#B[K",\I?HHECB^6
MXT^R]&N(+*JO):QVO:6&TN_3M29#:F6Y"NTO-.$IV)/4:O;;]L9U"V7F)81B
M&`PTTN(4S5;1S93TLPJ533=966(.TA^.AE]]V,Y)9W2([&[)/S.[;G48XDGM
M6%BY=RG0X-2MW615]LQ3*=0BSL(S"+)NF8+Y:B2ID>N#LUH//)"5DM]B0KYB
M!K"*)GFUY\XKX+TG'O*>?8;*M.$\V3D$?(N4*Z2I2\*R^?2QG^/<<32!E<B9
M&S:Z=:AH>0"AA]0+G:-U`B2V-?<JX*>C8%B7)#=WQSS%F>0X-@-EQ5#BR\@D
MXKR%R-BG[Z8E0NVR8OY5;3)]-T<4VM3275%*R"G?59/=3P7!T`E@I]LEW].7
MQ:QD5$GE3[PG!F#\K<.*E>/&8W]!E&?<P\;9?G#]77R,MX6R3@]YMC/+-%&&
M7S<8G2PY"),B3&D;(C$E"24E(ZCW!-HZ#JAI%#\?@J>:TK(!3,I^J_S]\*N&
MLDY)J:`65=C+N59?FF7\H&FEQ\!SOEE>.4^69_B<*[GE8E\C/TZH+\J,@EM"
M&TM,)"@L:CW<8N;4BE<%;64)@XD=OXI(YK]P;ALTV?<M8:[>9GC?CCG=#7Y]
M2OTL['["YSKD6FA,<38K0_F[4%*)%ID>10HS4X-NL1P5.JVU\RM-K,.Y.<1@
M7!7]S<":"E<6A4\B_<AYD\:J.TM_*#Q3_=6_FU"\OX^H^/\`E*#FT_.JMMZ)
M6RW'''84<5;E)^>1FIJ7/F4L**2I.P'U>"U)M1RHO/6.-P:\2M5SAY4J\WO&
MCFG@[PRSG-<`\LLEXQRW),&@RJQ_&LTPC)^/\IJ&+/&;/ZB.XBDBY-.A%FOE
MR&VVI3+REM$@'7*FGP\E.N0:NKVJ'?@OA?W(>=_(>^\B/,/Q8NN!+OBCP1N_
M&:MEY=D]'?VO,F>6EVJ\>NH92"6*R2SN75]P2$!0'S;:ZP_N!5-O_P`H$]JA
M-QGXH_<(X;X7\<<&NO'+R6M>*&></,^Z\@N%^"\PQC$\TRM>3Y5$N.%K6QO!
M>0)-9Q\6I*GU(C3&G%L)_:H5U!F!=[SRA--D_P!M_P`W4_:HQS@"N\1\[A<F
MUOW.,BYBC\9BZH[J?5\2S<G:MFLEG6#<\&7&5![T.N@!/:WN>X_,8=QY_@H\
M(\-.-5TQ\@?%#G#-.7/O'W-OB$;CCBOG;P7X9PKC_D_,)M358A^]&&8O8&YB
MJO6I<=B`:6WBM-..O)[$NJ`<44[:XC,=Z[+D;3<@9;Y)_=L^T2SE/&5/PVSQ
M1XO-5CF76>>X+E`E0>*:>2;+E-#^"7MW#K:JY9QMU^C:D/)=4S)+BT`;@7/K
M(^)1?8'R%]QCPZQ&RR?"G/(+BECD6CIS:L8S8Y4(C=N]8TZK2H1$N6HDR"MF
M=$?;<0MHNI"%J*MB-M5VY207%L6.I1;L89#0+G?Q/YH\)/\`-/*F4O\`.7`N
M"_GN88[D>24]/D$_D#*,XALTJX[V(U,6LK&Y,SLE/(7',9AU3RP4!(U\M@L[
M6PW$W!+1C5=/3N4FLKY0R[S%OL?P/ARWY/X1X5I+**]RYR+=X=E7'F3\AL36
MDP6.*,#KK^JA6T3\Q;96_/G,K9;CQU]A!6-]>A9[WMMNO2=3=((Y<ESOMND?
M:AU,"I"<:>+_`(N<#S+"_P`1P+"HUI+^GA_O#($G)\VLHD5],IBI;M[AZSL?
M:B6+?OME+Q>#A[MMMDZM9O?<%]$7-<-#1D"FV[9*(_"TD_11L^X1]R6/X5X[
MQ(KC/A?*O)'F;R%SA>)<1<34T@X6K(K"J@FTR.Y<F7ZHJ8"66$*W"T(2L-E2
M=]<[7<F;D0T&M5.DB=;CQ8!4>#7GC=>54GFZB\@O'_*?$WDCQX<J7>6N/N2[
M=3E?7XKE%0J]P_+Z;)V%(Q^VJ;&(B2MYUM]80E`W`URW78G32Q24PTG[URCG
MZU>04TZ_R1\8H:>(6ZCF?B:`US8I]?$T49%011RA8!]A@-8BXJ01=36S(`/L
M%Q>X.XW&K"PL76[0#FN@SQR4FBPZE9'<L`*]%J:*]@?11*>[?^SK9WMRWD)>
M1B37Y_%4K[VY#R`UU`3S_)8%C61'XTE3L5J0I+*RVT\LN(4X$_(5)4D`E*NH
M^._IJLW3VM%+8OCC'C*PVZFF(CD:X-^.?R3+3\5H:K):#;':U%7<E^!.9#0_
M)TOQOFI'Y453;[H?D=ZDG8C;;;7Q"U]J2;=OXN'-H-7)>GK_`+3X)W8E56QV
MFV&X,&-`0'BB-6);8:5]/V]SJ%-M,J+)>64@*!/RGKK[=#LT-Y<LW9^>EK?_
M`$X<U0,R/>5QXYU^_-X`>/7+6><'Y_DG)+^>\8RT0\V_=GCO);VDQ(K4ZG^_
MK"I8D10RRU'<<6I>P#;:E?#7K6V5M.P:34M^W-;A=)?'3R.X9\IN*\6YIX*S
MJKS_`(MS-AZ12937,"-&DR(RGT3F'&I+;3[$BO5&4'T;=S73?UU&N;4TQ&"=
MR>]N?4NM!Z/9U[B%2$14K3,C=BY"UAOV&W._L==0M0[DI)*=QOJD-H=7952(
M#35W(5,CI0I96>B^Q""A2'I"RL(`C,.!#SX.Y.Z4E/:DG?IJYM;7EDH=WBY-
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MK@I=:X\U5HBYZ?=@6$?;G\M%`]CG]%LX(<*>]*=YT$'=O^<3\/PT1/KX8C;Q
M$\8>FV_`?$JCUW[BK!:,E8'\T*_#X:(I+:(C1$:(C1$:(@J4D=R`%*'H%=`?
MX?7X:(L4M]SJ''(J5G<@]NR@$['?O`<964D].AWWZ[:(N%/*O"=!]N/E/$?*
M\2N8.0>((^<\F7?(>$U>:^_5XEE7,.3,6;'*;V(W-J(=KC>#5[4V&XTE#DAG
M\Q^H9!4SMHB[#&]Q!JCA9`_D,"#CCT2#/19Y',9JJU=>]!>;B54MRR>;;=>G
MU[RTO%:MMR.X]Q(!%`+B;R(^U]XT8CR99\"\@>-_&N+S+BWS_/:GCRPJJA^\
MN;!;K*;Q^G;<3+RFZM(C:VHS,9*UI>^7LZ@Z(E;@OW&^'[9_!L>Y7Q?.^`LG
MY755,\80N1,:R']U,SQZ\:0_B5O59Y"IWJ&OL\A;?2_^72GFI3:FO;<2D^I%
MT5KW/IX:6G7"\ZR5-NJ"%(>F24J2AR4IET-K8=EJ4GM:5ML`-B=]$5U;C4J0
M&6RPXMA>S[25I4Z4I(#OO(3NKL;7N@D=WS#;79MTQ@##F$7S'\%>6'W(<`^[
M%Y68SYC17L4\+J7B?E7D?AJCF0Z>P7;8UQ]=546!;XI%H(UA8R\EL$OH9<:=
M4TM3#Z0$E7<4\+FYB=;O:.(6:E3OY5Y.Y;\T+##/''B.)Y)>..'9;A[^4\W<
M\NXVUB]EC46ZQR3*Q;CJBLW+&`N9F.5RIPE2UUKKRJV+&#3@2K4"UK4(I@UG
MCU+Q7QDF^-/$V?S\'O:WC5K%Z+E:(TBTR9N\GP$,V.:3C-6MNQF3YLI:9TF6
MZY*4ATDD]HVLCY0L*$W@1BR[CF1^EG5#./1/!/CRQ\:E8@VW(K*:TY7R^=7Y
MKR?RO1(?/Y=/C9CCOY>ZF<A:BRMZ6A1^8ZU1=E8*G0PRY)<0^\IE+SSK32&4
M*0HE*Y89!"&HJ71VGM)`.VVX.^B+-<4A;"U)6D]!T!&_J/AHBY">87_I+OME
M_P#ESEG_`#8N]$4F?%8`>3_GXLJ2!_3=@:=B?FW/#N%I'R^NQ4KUT13@FI[H
M4U.^V\.4-_7;^]W-$40_`E'_`-['BJ]_U<IY`3MMZ_\`P7V_7??1%,71%ZE3
MB5=%@H_M"G?X=>O=\=)_UHA%E09HJNY/J$`*]0>G0_`[=OP/Z=+?]",QYU%$
M7GN+/1PI6G^U[0GK\.NZM$02G^:GM_'TZ_R`:CR0=29LM::>"*PZT'`00WU^
M*F^X_P#MAOJS=<AS=);AW_P1<H_/G[G-'X*\C\.<01N`N4>?L\YO=DKQ#&>)
MG**-8J=@JFJD?5?GSL..OVU0NJ4N[J[MA^GR\T4>Z3&-S0T`]_Y+J^.9C=6L
M]U/XI,^'GW@/';RNE<Z8CF6+9)XO<K^-T)=[S=QWSG-IZU.!T;CL)"+VPRJ'
M)?QYF!,CS@5M^Y[C0Z$==]6Q]L63;.FIK?$/%0<CPKSPS41DLCWZ'.)&*DC4
M^6'AK?8YR#G6.>0G$C6-<;AB;GV;4>;8]&Q_`XTY\IK57V01BY6-*M6@'&4E
M;_NA:`@%2M>5W+8GQ5]+/7N;^3EW"4..^6_`UC@62\M8_P"1'!^=<3XK85];
M=9C!S?&GZW&+&X>CLQX>17%'(EPHES(8E,;1I"6))>=0WV]=]4@@W"S9U9`7
MD'N_-$K,Q\C<"P#ZBCOY$.OSIW`\QY!Q3`Y634;-SE^.X5!:EV-G4DNNMLTK
M[\R.A$YXB,D/;K4"G;7I=HW^>1O3=;$#*NKZ^5*<U'G@7[GGCER%P]B/*W,&
M=\;>-LC-;G-JS'\0Y#Y>XZL)5U$PB:N)/M*"]H[E^DO6'PC<HC.+<CK(;<"5
M$:OO4=BPI?8IY)<%YUQK*YAQ'E3`<BXIAB<FPY(I\LJ)>(5"JX*58BQNF7G8
M<5RN`'U"%J2IHG\=/4?Y?JBU/&WDOX^<WX_D&5<1<Q<<<H4&'K,?);O#LQQN
M]C8X^6#)0NW]J4HU#$R/NI"I*6DK9;4X2$`$O4=GU1-IPGRWXV\BV_*EGX[<
MP\><@64V9'D9G2X)E];?5U'<5E:W"KI+--4JD3X-?/>96MZ0VRF/+2"4*5W:
MS//T6!Y%:A<A)5^BG%+7FKFN'P7P=G_,=\_6VG]'^`9%R.S2LRVJ164S*>KL
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M,@L5"*VF)LI%@I9>*3W'5G%+TVAM*HE;RY]U[`N(9^;8+*M<.?Y&PK(\I3(I
M7SG$^1*XMX^JJ:RR3++!C$*:2C'KVBG7`<FQ@0Q]&C=;A)*=<B:FJ)'VOW7\
M5L)53@EQQ!(YZE<F46-7]/)\7;&QS:CG87R!7JD8C.S.]O*ZMH\&AV;L9]"F
M[.4R\5-@)22H#6%TC9U"16E`H^,>0_VS_,[E/AGBOE#R2;<MN!6^7L$H>"N0
M*C]V,9O,RMGG<;L;B7^?1I3&09UQS5.R(T5E")3?N*]U`W4VH`N<WZ1IFK5=
MX*^$L+F+AGEZ?]PXN2.!['$LJDXI?7_'53)S?(L$HK'"\3R3-9$M",AA*@4,
MAMA47]@%.L(=)`W2>CS9]&DM.ICWKI'NG3A$/3K3C7^"9?%O'/P0S'F_B#@#
M)?/G/,\Y`QNGYD@<$7LBIP?'J#-Z/F27D,W.85!FQ:>IN5<JJYUE((4A#JR5
MH:=]Q';MX^]?H)<QE0.W^"CF\JX2%@P.5?X*7N3?:\X"R&?8LRN<^6<UXZL7
M+7*,8X+P2CK)KM-RGD^(/X-:YQ0W+$$*;9@I!EMQ9+GT,*05E6Z`GMFW.Y/V
M[:A=F+7J&5:?6A4J.[ZV3"/BM1P+]MO@3@CAWRSIN??)K(LF=\HJZJ<S>XY1
MN,'Q*1QQ+Q"JC4U%D>)QJU4=SZBG>KX4IU?MO?W]'"D*()(@;7;,W4"^=^B1
M_+G7XX=RZ]1\+"TBNKZ+5WGB9XW<I_66O.?W6&>3,OA\?3^.*+()63\2U43&
M*JYEX]8,W]9254HPU9*R[5Q2S(=([6@.]KO*E'W3988XA&,2`HENYT$G4I5/
MUX].<#<8^7ODWY69MY.^/RK+F3&.,.+L7J*_DO%ER7Z7CRG5)M<ARIZ1,CPI
M&2Y%:MAR'!BCM9W4ISN]-<I-JE_<%2UU",.>7VX)-?.D)&BF//\`@NCB/+OQ
MJDM,NP>:L'R9*T)$9&$VKV8JDJ6H.)CAG%8]FEUV+M_,ZGU(V!&N<5A(R<"0
MM:P5Q)`^]<+4ZKD5PSQS6AR/R]X=I6$3JVKY2S[ZA:8]C'XXXLSV\7%EN$.J
M_-&S10&X2K-;2$..N[[[=@_6VUBZDL[4$NE::=WX$JPE@$C:`_\`1--*\P,Z
MM\BK87%GB%Y&9>W91Y28F59)257&&-?72A)C3HUW'RNTB9##^C#@#;_TKC90
M@;#?7EKK?[-EQH:0<.:V@L&Z,7XUY?Q6!R!!\X^8<>N<7-+XZ\0\?Y=`FX_D
M%/G/YIRIDSE58(5%OY*6(T>!BCK\>K<6$LRFBPXY[;A3ND]W1FZ6KVUU`'DN
MILH\?U.'+^*A+P%]BO[?G!672.4*:BN\PY.O*IVIR&[>M8\;'[!$MU4BT14X
MGCK"*2@K[;W'&'8K:2R8;A9VZDZK[C>WPBK8M7Q_@H_I^U=:*?$^+<8QVHQ[
M`^'*%FNH6(5=C54,$IF8L*+&>*7T1A,A);;2U&<6PVM"@4LE*=E=NO/;A[EN
MYV"**V((.>JO_P`JDVT#0\ZCA18&0\0L9&8DN@Q6DX^R>I*C49)!QW&'7D*6
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MS>9N!<D8C-QZ_)\2QMIF3+MH-ZV4=\=IW9AM:^W;7O?91+`V6Y=I"Y;P6.:3
M`=9X?;FF)^U_B7E"]PIYL\$QZ/RIS3QH/"%56<#9/Y884[AOD!=\C7N/VC5Q
M@\0W#RT7V*TT1^*&I$EE"&DMI:1V[E6OJ[MTL[@-;"&NTYXCBO.6!FBUB5I'
MB%*]R@5QS@7+N:<A?_@^6#0/&?G^'+\/LCR.MYQO[?B'),6Q+%LBDVH?AQ%Y
M#*#538*<C,E9FE?Y7VG9+@40@]FQLE&H4"L.OV?5?<XVM"VT+0KO2M"5I7U^
M8*&X/ZK?KO\`VH_@U#+)*X.-%GJ0<68]Z]7U3Z;]02.OS`$$I^/J-99(ZW/4
M?XQ2E,L^/%8<(IO`QNDUSK5(;,V5L4<R>RW[DBO>:M(D<(*U*<B+"TA"?5SV
M$E2MOCOKQ_N&"(#U36@.SI_%3^K^CTJ<,ULZB?#G0X=E#'=#FL,3QU/[",XX
MR)4=2#OV;O+=61\-MM5&T^XY)K4;:V*E''Q:JYGE3\5!],&X`\5\0_%G!/G!
MSC]TO[P6!>&?(W"7#,'(;.JH>54<SX).RV7E5;D,F[H?KL0_+HRGHTI-5:R-
MW2X/F6G<#;KZRS?/9$.<XOJ<LL,.]8,-,:\$\?D']MB;X;<$_:A^W;7>07*D
M:DY0\Q.0'^5>1.,;.XPBZLF\JQ.7;V]1%E5LA$FKI'KD>R@;I0A!4KTW&KN6
M^$@H&4^/\%'2J\H?&3A/$?)^M\+?(KR9YU\8?#GQV\99V?\`C;R#)Y,R.GN.
M9.9,DLYC_(-K)SZ0AQ&3Y!AJ6DLKJE+7)0%MEI*@O<1F,;(\G(!=HY>G7"M5
ME_TT>;O$7B7]NW[A>557*>6.>-W('(?!_-U%)@74:YY(\/,@OD4V.>0EM@[P
M9L)EM!QNLBR4OOL^^EB4IQ!5OL;&&0184JN$PZIKDGFAN<PS/M*?<I\T[C-L
MXK;SRWR[/.;N(ZIE^_J;3"N)V.W%>,120EI:GTT>UQ>,E]+#C712_<._<`(D
ML74D<^M`3E1<[2-]M(7ZBX'AE1<XL^X:S3ESA?[L7D+EGD!SUC^>>)=+POE_
M#&)XOFMW5T<?(4<#\=7ZK!=9'0Y^9P+*>\%OQF0I0<=4DDD$ZS!&891+6M."
MZ.UNNFW!=X&GR\_C_!2B\W^5.2?(#GGP!X(\L.5^0?'CP<Y(\2L0Y8S+G#$9
M5]Q[5WWD*<,F@8=DW(47VVZ2<JVK$OHBJ7[KKW:G\=]9(>I,):T[%UD>).%$
MJO/&VSW%OMT?;MXKXYY<SCG3QNY'Y6JL9YX\ELNMK7ABU?XUQJ'*=Q:/G')?
MY2](P>FO+H)@&R<:D(FMM)[U*]S=-I'=M8*.96@Y_P`%I&R%C2'M#B3FIQ?9
M&QWGJYX(Y8P_F;EO$>8<+PWE*54\%9?AN<77(>3X)CKC+L<8=?Y?<UU?&R!R
MJ;C(4U*8]V/)0I(!2.NMS?,X1_7^"U+(B<&@+MC1N99B$NGBY!D3V7U%TM,:
M/8S:Z+!OH$M27E"')$(^VMB.&>U1('3UWU"M6^KJX>'_`*K9.PV^EU6R=B-C
MU!W_``_1KDYVF;I=AQ1<^?NQ([OMR^6I/<0GBZ:>U">]Q7]_0C\B-QW;`=?P
MULB?CPR._B)XOGIM_0#Q&!L=STP2CZ*'\U8^(^&B*2NB(T1&B(T1&B(T1>A2
MT_J$`GUW'=T_E&B)A_(GQ]XN\G.-[;BOFC%HN;X):RJ:=-H7USD)^KJ)CTJ#
M.=3&4E)8BR'$J^5:%DI(5W)Z:(N/?)W@UYYY!&X*X$S/*N+?(KQLPW)*1RWL
M;M<C#<UJ\;P[+69.+_O,'4R%9K*_=:0B'*3%'T\GV.]:.]:@"+L-/\?^(WK#
M&;A_BKCTR>/52581[>)TS;.-JG!`LW*E"8:"B-*">C:]PT3NCM(T1(GR>\;5
M>2_%+>`Q,SL.,K:IRNIS7%LX@TN/Y#)I+RDF_60D+J[:M>:D17@$H=4E3;RD
MI'S]-$7'[[CMK]RS&L>P^KG\\</<0^/>2VT/!N6L^Q>FO7<VHZRKK)MRCD6Q
MRQ]TQ,)L,QL*EF%$C^RJ,B6^A'NA)T100X'^[;YI<I5/'7CSA.+6O'CE?B7'
M&.U_)',V'6V5^2O+2[7(AA.;Y/QQB-:AG&9_[K,!$E<A0##D9:9+CO<L=\"6
MID*Q">M*8LJ&E5B<`\N\Q<-7G-5=Q9P/5\R7?*^689EL#E3FYODS+L@J[J/R
M5,Q:<KD"$Q#6_A"8\B8+>)40UMF(T75.H#:D+9YZ"_P5SP6;D>GD$>=2!\U-
M*9]V;RXA2?'J7<\%<88C(Y`RW'<4Y#A9C5<D5,O)["UY%3QT]5\/QWY2YT.1
MBU7+D6\I=E'4GZ(DMO'MU,B@Z7&JS5*KG;RO\ZL]Y7@X3PG'XRB3>,O-A?&N
M)RYN(9_^57G'E)PSEE[:*Y-KHZW+UW&';A45NOLHP^FDREI!)Z;2*X46%KN/
M_NG>:.5,7=W/\/8#UZC#LO:E\5TE+F3.?KRO!($Z8_RO?S;)N'&M>&K9ZC$"
M-#2I=DZ'&TD)Z).$72;P*\I<_P#*;'^5LHS3#86'5>(93C>.XY,AP<BK)-TU
M:8#C<_);)S]Y(<?Z\T&32WZ\K9;#([3Z$[@BZ$!IA$=11^MZ`;[[=1N/3KHB
MY$^89V^Y=]LW_6W'+KG\/9C%T=OX]]$4FO%ITH\G?/QD)21_3AQX>XIW5^UX
M?P<D`_#MWZ:(IPRW4(B3%.M.(;$.45+"5.%(^G<Z]B?F5M^`T11`\"4NI\9\
M58<4I7_P3\@N%<=HJ1US"V[.[Y7G6U=I].W^/1%,L,DCI[ZNO]HM.WI\##T1
M6'TJ9!<4IQ*!M\I:>41_"4PB-CHBMO/(804K4YWEOW$.>W([5DI[@V`(.W=U
M`T14)D)D(]V&7)"']G&$H;?!;:'RK2HKA@*/N`]3HBO-(>5W>\B0UMMV_LUJ
M[O7?]6&=MNFB*EU,E*MFF9#B-A\W8I.Y^(V,0'IHB^9'[V/A?D'F7YK_`&[>
M,FZ_EZHPBTO\@1GW)?%4.9'MN/J7Z*^>;NGLL:CMP,:"K`AGVI"MY"#NG8ZY
M,M1$XO"F2&L9)2LY1^S_`,,^"?V[/N$Q>$F.4N9N?><N"<IQ:\SK(W)V7<@Y
MO%FL1(U30185=&4ESYHZ$K<3NZEON)5MOK7<+B66UZ,)H[4#\BJF*AE[<4A?
M*CQ+B\>_;P^VTO`O'?(9W!G$/(WC1RGYA\58?CSTKD*[P3&L>JIUE.N:AB!(
MRC)V\6R>294V(VEZ2^AL-@;#I'L:-/\`N*$J4FD\=/"-CRTRK[L<CA_@[D'Q
M[\0/*3C"C1@5)S/C][A]MEGD;C-O<9;CO*V-8O9-RK7&\?COQHKY2\AE\>XE
M'M]NPU97K+22TU!HR1*7Q)Q;R+\MY?._D3S]P-R-Q=EOB;X%YKX7<:8IEU:X
MS,Y(S7(J6_F\C<A8M&17=D^FR)51`;CMN%7N[(6D`G4+;8K8,=X1D:9<BG#%
M<]?M<>$'(.2._9:I>>?';,W<,X^NO.^QSRMS*@R*GK\7N)F6US&!R\G;$=E,
M1RP>EO\`T95V)DM*`4%`;ZCTQHL)8\D>$'ESEOVVO/WACQWXOS*O@5WW1.3.
M1XW&]G6S*;(<\X)95`M+ZHX]==::5'I[*PCD1TA:T24;H`Z[@BZ!<-<<\?\`
M/GCG]Q@>%_AYSEP7R5GOBSB_%B<YRZHO^/JSD?/:7`)U)+PW!<&RA$&166=*
M[&=A3;%*##FES="]R3HB9/[1/CED4/R5XKY4CW'DCBUCP]XY8;P[RQ@4WQ@B
M\.\33F\1I)U8SA.5VDQTOYQ/PJ>'76+2$A3DU:@2I6MMV&BRCD_RJ,W]_#FO
MH3Y@\6.-_(/'>3S>Y+:)R+DWCG)N,8UK9O\`YQ7X%69+3R:>8_C./N1FJUV?
M'3)#K:9#9(4/UAKSNW[@YYZ!.95P[]D]RC=G_P!N_C+BG[>UYXF81&IL,JK;
MQ\A\!\K\TUF'P9>6OX(Q0.U5CG*H+J9+=C-3(0[)5%'JN2.AZ;>\A`]-4DY&
M@[:?DH*1O/'VL6^;:3@G,^$O(FYXES+C_P`<;'QLO<Z@XG699#Y-X(R[$,:H
M+*"Q46[S590VUQ^4)D)G!?\`>CCKB0V2.E;!YG_ZD2PN?M!\/RL]\0,HQO,\
MSH<1\6JFFQ.XP!F,AR%S8SQ];P\NXS5E$Y,1MVMCXAF:9%FT[%6E#ZW`@]R`
M!J0B3&1_:-K+KGKR0YZ3S-DD>3SKQMY#<>JI/W9AKA8PQSZK&8'U=98*=CNN
MJQ!./H*4+[4R4/K*E;`Z(DOPM]I+DKQOE8<.*/,C/,0PISCSC'!>?(=?A-!)
MNN4W>(J>YAT-QB^2RXS\_CYJR-L(UBR6I;4EMM*D`*`.E%WMS1Y[E'WB_P"S
M1P=X:^755S3BU-CO,EKFW(F7Y)B&*YUB"[3D_$+?/++\QRO(I?([-FJ+;TE9
M9R77(BW84=P![V^Y0;`24>[QI1=J\E\>?'BSL,GGY+Q7B"++*8$B+D5C*H(3
M<BRBH;^G1"0^S&7&4XTZX7`1^U('S$Z\=N\ES%?/>">EAQ[%FWMV21!QSJOF
MVP#[;<6A\WYMO@?)_$D'C#Q5OX=-Q9D'(&+V%S8S;F7"3DLS'Z6Y@WM'_P#!
M1Q]*ELQY3#[ACN($-T(4M;J!07'N*&")[)*:@T_;)=_2,&/X+MU><(\VY<R[
M4YOYE7.-X_.:)N8G#N!8CQ]=LV,/VY4?\AR<IOK"+73$.DOL+B+1(*B5%!ZC
M&]>Y(![?:,*T4JUMJ'+BD#QW]NCP_3E6,<S<F4U_S'SI&D.67[]<M9C=VV1W
M:H;[L:"Y88W`=8Q>0S&A`!`:KV0I7504=<MF]QL=MT>@X]BFW5H21_AHI<O<
M`>,TESN_H%QF8>U]*>[%7DI")$@27$J<EPBZLB0G=)'RI!V3JT_\A/,J)Z-8
MY\=/&`N[N>/.,!PEU+@5ASDA']\.AU[YU0RT%+5T+J`A?;T"@-)_<'NG1_MP
MXP4\.>7!1'6C-1[TM,0P+$^/52*[C?A&OHH2%N/09":NNKH9?>4-U1)Q,R:U
ML1N"4^G0>NJ4;S[HN9NE<ZA$:XXK:.!D;]0S"7;+')+TAY\M4-=$E%*VC#,R
M19QG4)*'I<M3L>-"E;$]J>BE#?H/B,2P[O<'S./Q/YKOA6BR?W/NGT28]A.]
MQ$U9>=8C,+;:D+<_7L5NI0ZXU*[Q^KW[=-]M1![:W*9^LEWU_-<9)2PT"T+O
M%=3*GQGKEV[R:5!DC\OE6STA2JIE2$A:HCR8:'&8QZ@I"B%`:O;;VO?M`<YQ
M(';_`!7,7#@:!.7&K8;+;;+,+M;6H(]I$<-%`!V[U+9@-E2?CUU<160G.DC!
M2<:<%N$P^UP.!+X*=PVG=PMM@H4@A#:HA2D$*/\`'JP9LEO!^H]H)*Y/D+14
M*D0TH;0V/J4)0GMZ)4I:]M]BMSZ$K)&_3J-7=K86@&#1ER'\%RZ[ZUJL9<-2
M@Z`9`2A.R%EIQ;FR^JTE3L1>Z23Z>FK!\%L(PVC<!V+G?4=:@C.A6F=IWY<5
M<-U")4%:'D.QY#"BRMIU"D+2N"NO^D>[$JW2.SHKKOKSNX6=K-"^+2*N%%SL
MM7I':<'Z,$R".&)'&[TVXX4C.TSDWV)=IA4B5+-#D4J*GYY:'I;133VKK8_N
M@<2TI1V4DCIJBFV*2&T(MJ@TX*795::SFK>U*S"K&7;QW6;-JS8GRTH>1$MR
M\U;4MDU]2VY2SI(8?5)1#+A,60LJ:=2L]J=DG5-[9%W9NN&W+B:R`BO8#WJ1
M?NB<6&(4P-?P*=&'`E(+2EQS'9$8,28S+2$(*U%)!)17(6H[H&^VR3^&OH=M
M<FG%5ZS5)F(W2(TCM1\H5LM0[4]`=S%*E=!_"=35A7F%+["[NI?8-U)4R^D%
M`'S_`*T9E/<$[[?,.NN,_P"W\0NL/[@6HF2D2/>95W.J4AY;#?TZF7VFEME!
M[T^V^5(7Z`D#?;7F/<7_`!#_`*5,Q6EQ6F>AUB88:?0PE3[3:%!6_L.]Q(5O
M#W))=5M_ZFO&^V8.I)JI_.4-%37\>8G29'>952XY`ILDR/VDY!<5=?\`2SKG
MZ=TO1Q926887*$=T[HW.R=SMKZM);4C:1R6CB-)J1DLR=AU+9S*BQMJ:KLI^
M/RC.HIMA7HFOU%@MAR,J7`]VK4F,^^T\4.*0`5).HR@XI-Y?Q'QWGB8:,XPJ
MES-J#.-E"9O:G\U1'LUGNF2THF05I27GDH)`V0HH02DE(U(M\RBW\K#:2YK9
M>.6%)$E8[.@,0)]+.@H_+IL&*RJ.S"DQA6E$F(EM0W0LD;I3\!MJ4BIGX1C]
MCC$G"9^+P)N%KJ$8_(Q-V`RYCTRD904,5HK%UP8^B8:4$H0``D)`'IHBP?Z,
ML-8K[ZE@8CCZ*C+U=^1UAHXJH]_'3#37(:MFUM.HG)A0D(98#J%AEMM"0-DC
M1%C7W&&(990-XSEN%TUWC4(Q%0:&RKA,J8ST)PN1W8U=]$8[;O?\Q(3VJ(&X
MZ:(K5I@V/3,=5AUEB^.6&*38\2%#Q!VE9:IV$U\@266%5R(D=EU@$$E"DJ3O
M\!HBW>'X1C^'5<:EQ6@AXU416WDQ:W'V7:^L83*[/=4B$TRN&7B$C=:DE6^_
M76#DBQ>1(EC&J8ES50)$F10V*+=^,AD-!VND-N0I2$.))*W(C3JWB`G<@>GP
MUVVHT%#F:T0I052VGX<.77N.38TAL%#C:'C[R2VE1>0HPM@E+A["/Q&HLG_,
M^!105^ZI'D2?MV^637:_%4YQA(:0][2G'DJ<M*Y)#:?:8)"F]P?7;IKJB>GP
MU3)'B-XPEEAUQM7`G%)2M"5`+[<+IV^]0++I"U!'7KHBD\EI12DJ^I2KM!4/
M9=/:=NHW^BV.QT1>^U_KI'_S%W_$M$5IYM](!:1(=)/4>VM.P^!^:&-]$5(3
M(]HJ4VM"@H]%AW?MV!!^6&H=N^B*TXZMJ,980ZZVR?;?0EN1[ON^G[)'T6ZV
MQOZZ(JVTRBL!QB0A'7N5VJ.W0]=A$)/71%D^U_KI'_S%S_$M$06NY)0I<DH(
M6DM^V\$*[T]JB0F&"3MZ?AHBH,<*0E!=F=J4A(^1SYDI;+82X#!*'1VG^<#N
M0/PT1'TR2$I*Y1"6RT`6W2"A7KW#Z'8J_3HBM.Q_:0%)#[H2KJVZM;/125(!
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M/GF"V9-N([2&&79KR:PE_P!MI"0GOW[0D;;#1%1'QU,.6B2F`RU)7'$=,Z(R
M#-80J4[,:91-7`+S<1J0^2&1LT`D`C8:(LN-3*KTHCMQHT5MHN('Y?&^E1V/
M+:5(2EJ/7AGVY*VDJ6-CW$>NB+.3":0DA*I(':?UVW%)]/CO&9Z?]L-$7([S
M$BH_Z2S[:![R"+#F)6RD%!)_=6Y.PW4=]OPT12+\7TG^LYY\/!LI!YJXY[@3
M^LL</80`4_@#TT1.;S_Y=^-7C(K&6O(#FC%.)49I&E_NTSF,QR,BX=@)4BZA
MQ%I49"GO:4>P*]#U&B+D+3<U_:)QIB?"P[[C.;X556=I:9$_5XQS3D;5,U/N
MK6;+D(A1Y=#.->R'5J(9:4$`'?;T.B+:'R+^UB-M_ND<MK_V'-]J-OX?<Q0?
MV-$3%\Z^3WA!4P>.5\(_<JY/O;2?RKA4;*8MQY`.0H*,(7/4B]<:59XBJ(G=
ML'OZ[?VVO2VMJV6R#I&,`T^$X5.=:]V"SA3#--;R?S]@]MRCQVWQM]TK%<"X
M1KKNQD<OC-.7K3*<WF4:;5"ZTXTNKI(\:*JQC`L(8;(=C$A]2RW\FO.W.WRQ
MS=0..@8TKA\EA3"9\A_M:+:CK5]T3DR*B4R'FVF.;+""EQ:/D>^ECMX\I3;/
M<.[M<5OUW&^M$5[^L%]K'_K2N61_!SW:(_TL7D;_`-C1%Y_6'^U@CY3]T?EA
M9]>X\\6:SU^'<<99]/\`8Z(LQSR+^UJW#2EO[H/)^T90>[!SM.2IWWPK_P#9
M[<G9Y6Y/IN?Q.LU-*<%G4:4K@L=GR9^UJRM"T?=!Y,4ED$AK^G>6R(Z`DA:%
M+7C3B'24G8#M.^^M=+:UH*K4-:#4`55;7D5]KB+,C/5GW/\`DYN1$/2<WS?/
M6I7N([FTON#''4R&F4*[4)[$A'H/PUC2TY@+*L'R&^V+]0N4O[G?*4M'N;^Q
M(Y[MHS"%@[EZ*W'Q<=Y)5T;4.P=?Q.H%S$]SZ`D,ID*T^2+83O)C[7MFS'][
M[G_*C:H(8<]Y/.%FQ+4&6_IX[(A,8HF-+2TS\B2L$I1T&N$<+V.&@N`KVH<E
M"[.O+SQUG^3N68C@GW&>0+;A-?`F/WD>9;<T(@/0^6HF=.1DQ(T^3CD:4N.,
M14IUSO0OM<2%E)VVU;Z&<@H6IW,K?<2<_<4(Y/;F<V_=1QU?$\?&)R5T.*<M
M9.]F,++I-W)KJY@6":67$6S"P<LQI"B^MF9*0N0EIL$ZQH9R'R7:$DDU4L+G
MR3^V;/A,1'_ND<H%R(_WI$OFVTAED,)+".Y=?C#*W'/80!L2H%/330SD/DNZ
MQY7DC]L>U7&+WW1>3UJB+3+BV+7-%Q"D+F,E0;!C1\;;8FH!)ZO;[DD_'4>X
MVZ2Z90N.BF`X#X56*"M0!5:.VYB^T?=3!,MON1Y^Y+]X2')$?G.UCE<@;$NO
M!BF0M2R?7KOJCC]O26]RV=M=#36BWUNRJ:+8RO(3[6RF@S*^YKR)8LN-O*<@
MS^=Y'Y>&EM?3+C.U;./;.,28ZMBZI:EI=2VKU&XN@)PW2"ZG*I6JUU)SC]IG
M'84&KH?N8<H55/5Q8T:GK8//5LB+4Q6E/NHA1E''7UJ5'>D+*E_+W%>XWUS(
M?'S%4*VG]8/[5JR%_P#2@\M`]I2-N?;?HGO4LI&V+C9)<45;?B2=8UNYE852
M?(?[6*%(6G[HO+B5MAL(4.?K<%`9;6TT`3BZM@VTXI(Z'9*B-MB1JP&2RJT>
M0GVM)KI:3]T7EIQ;JO>=5_3_`&A64LJ$I:M_W28*BHL[$=WS`[;'65D$C)0N
MM_)GQ:B^1G+#V">?V4VV$U.'<)IX_O+7R$;AO/6-Q9V$[DNNAF=B4E;34>#,
M9<(94V/=0M*MU$[%@@'/%*OC+DSQ2E<FYS>>1?W8V<XP"NK\8G<*+QOE^YJ,
MFJ;93]BC,HF;H;H4UEI!58JB-PS[)6F.%DG;KJBW#:WW<CGAQTGA_"JE12MC
MCTB@3N/Y1]FH8Y:8<W]P/*6<9O<J<S"YKXW,D@(F9C.EBT?OG+48VF4J5]4!
M^T(VV`!Z#;7DY?99N9@V7R$XFG!=3<L;XZ@T2V:YJ^TS8)>9?^Y)F4I$G^\E
MH'-<WW=NT-*DR9;>.QDON-MCY5E)/0;'TU92?VZVV1G2?.71<B:CY$K4;W"W
M)HK]NQ9+7-_VF&76'(_W(<WBOQ6_IH3D7F.>F0S$:W;!^H&,OK2IQ>Y.Q3OZ
M]=2+3V39[<S1:N:]IX$`T[L5L=^CXBOV[EG.\^?:X)V_Z3_E1Q)&_P#\?FS`
M'KN`E6.-_P"EJ7_XTWBUG_I"Q_7(?\/V^2LGR%^U?$^9S[H'*G7^9_3K8J"3
MZ]!^[Y!`U8-CZ31"<FBGR4-^\1EQH!GR5;7DG]JOW`4?=#Y20HG]='.MBE0Z
M?BG'%*_L:WBBA<\`M:1V@+4;DV<]-M-1Y"B'_(O[5@+?9]T7E8+[B/DYUM^[
MM7\RA\N*]VRE#<_IU,$$(R8WY!;:G<RO'_(S[5B&V@O[IO*$=2W4-#W^>K=M
M14XM([FVQB04MX$)`W6$CKTUT;8&;]2.H&6!HM2:G'%<^.._+W`\DX??N)?G
MK=RN1IN6Y_05?[W>2<3#8T7&JGE'(X6,WUE&7BDY!8FX''85]$[[#DU7:6UM
M%04>G]-F'\SJ?ZOXK&"D=X^<\^'U?Q[V>5?W5&[[E?\`>_)YTRTXAYGO*;$?
MW;796(Q^HAQ9]+(D&54LA`=/=V/`#8D;:X-BB8?"UH/8`MM3J4J:)\_ZQ'VJ
MC^U3]T?E(?#L3SQ8D]?CVMXXX>FW]KKH0'9XK%4?UA_M7K6GM^Z1RND`'<)Y
MWN`#O^.V+#\-.Q%L4^0/VKBG_P!*1RMLH?-_\7:WZ_#K_P#`OUT0XBAR6*KR
M!^UFD]W_`$I/,)]L]R0><K3M':=QLK]U=P.GJ.NM2QA-2!5!A@,`K*O(G[53
MH+;_`-TKEEIE2T+<<_IZNF"E39[T+]Q.+MJ[@XD=`22#K8XC2<EFI&15A?/7
MVGY+\J4O[FW(ZY-B\W9V?;S_`&+$.9.C#VVU**<?2['6RWU3V?KE1WU#?M3+
M@ZX@UM,Z`"OR2O$K(5Y#?:O=W6K[IG*^SQ#GMJYZLUA`_F-@HQI?>E&W0J/=
M^.@V689/</C_`!2J2.?^1?VT8F&9E88C]T?E5S*:W%,@D8ZR[SS9EB1:"K[X
MA4A6.*2XZW)`*-TD@[]/AJ6&E@T',8+"C["\H/'RQQ2,G%?N6SZZX7@#4V+?
MY9S[(NJY.3O5D`QUY+2-XY66JH)O5A#B(RFW/:4H]Z0"1K);NNF=)AH<_DL@
MD&H2Q\>^??%<8K8L>7/W4(67<@HOK!R#=\3<PV=-!>II'8TU52XLFA4[7JKU
M)[&64N24^VT7"^I3A&H<FQ/E&F4ZAR./WE9UNYE/VGR&^U)'/Y<S]T'E1I2.
MA/\`3M:%;:E=?;+R,8<[RG\=_76]OM=MM[>FR-@=6M0T#[EC4XYDJXUY$_:N
M:6XV?NG<JJ"-QUYSN%^GP[_W5()_CU,S6*E5L^1?VL?;)'W1N6^_8%)'.EN7
M.X$'=(5BOJ-:Z6\@BNH\C?M:$*W^Z/R_L`=N_G.V2`5$%1!3BOZQVZZR`!D$
M6.CR-^UB>]2_NC\P>VE7:%,\Z6RE!?P!4K%>X`C^+6451\C/M9@CO^Z-RT%C
M]7NYUMPH`^FP3BFVY'KMHBRE>1_VLNP@?=.Y5>^13895SS9=JDKW!;W5B#8"
M3OU^8#].B)D^?_*#[=6+\*<GWO$OW,^597*-7B5DO!XJ><;&8B3DD9*4UP,9
M-$E#R7I#H[M]T]H/KMHB8FX\K>,;*;Q-*PG[BME7U3N'9+.Y!N,G\@(SC2+N
M3BS0P659P&<8%Q`8B6*WES$0E][B@$K^;;15&X&;KLZ;B!IX%2&X4Y[\)6>.
ML;;\C_NO7F2\N)JI)S2UX[Y8O\9Q60^KV74-T;,N@<4A,1Q04AQ2`MQO=/IN
M-%)MXY=-7.)3IJ\@_M<2&GV7_NA<IRF5A\>VKGZV2VZ'`I*^QM.,)2A+R3M\
MNVP.PT8='DP[L%.5F%SU]J:#":KHOW-N3ZZ/'1V,1F.>+PMLMA:G"VV%X^&$
M(*SOL-NOZ=8H*ZOYN:).YGRG]HC/\8N\#S;[E7(.3X=ET!VHR6AN.;[5V'-K
M5E#Q45(Q]12MIYM.P(/=OK*+=XWS;]I?%L<Q_%Z+[EW(5+28U35]#3U,'G.U
MC0ZZLJV$Q8,2,RWCX0AEB,A*4[?`:(M@KR"^UF22/ND<LA))([.=[GM`/4!)
M_==0V`]/7^/1%3_6"^UE\/NE\M$_A_3[;+_]B,103_*-$7O]8+[6G_6D<M_\
M>UU_]J^B*._,ODYX6U.:\7Q>&_N9<C7,*SAY^_DL2_YXG1*X2JJGANX[VS9V
M(+C]SDYY8<2ZKVPD`_'1$VECY*<=ROZ/#0?<VKL9;KL]5/Y.:R_R(5<7%WQJ
M_;P@*W%GZ#$68=1=1HRC](E#,E+K95[J]$4T?ZQ/VL)"E%'W1^6F=E?WR@<\
MW$7MD?VC;3V)R%^UMOT2K;IHBNM^0OVL6R2?NF\L)W&WS<]VC@_D.&G8Z(KO
M]8K[6'_6G\J_\>MG_P#:9HB/ZQ7VL/\`K3^5?^/6S_\`M,T1>*\B?M8*!2/N
MG<K$D;`)YVM`2?P&V&I/]D:(L5?D-]K-H!2OND\O;%03\G.UV3OZC?;%R=@1
MO_#HBS6O(O[6384H_=$Y5270=U?T[625N`J"S[GN8VT5;K`/QZC1%DM^0'VK
MW&4)3]SWDY3(4XI*%<^3$I[G`E#JO;-"`"XEL`].H`U@M:<2`@\)J,"H><O^
M6_B97\X8WA'$WW".2\LX^G\&\AW$^0[SH([T'DVDR''6<9;:N+#&'FF[:55V
M$E:FI`,3V6^_M401II'((<<\5C<?^07#[O,<8\O?=$D8SX]5N&6<2WQB/SP[
M?9_D?(<IYHLV]/?U6&1*V#AL.,>U#*BEU;V_:.W644N3Y&?:S:;0@?=$Y4CL
M[%++#?/%F5AA.WMEYQK&W.]1WZ`]1HBO,^17VKE()_Z43EA6YZD<Z7!W*?3<
MC%#OMHBLN>1?VLU*5O\`=$Y;5\QVWYTNC\?TXGHB];\D/M7LJ]US[HG*_8D'
MN+O.]PV@`@I*NY6)E)6G?=*=OF.PT158OSS]HG%N4\&YMN_.]WD[.^+%V(P:
MYY2Y6L;J#0&\9^E?>:@QJ5H/F4U-6A92D%20>X>NB*77AYSUPSE^1>?WD7C/
M)%+>\)0.0*G+9_),-;O[LU^-X3PAC+V47,AU:?JU0:9FJ?D.J`[PV/QZ:(IW
M<C<'<0<O/TJ^4^+^/N2OW=+WY([GF'4&5+J_>&TERO=NH<R1%=F_%2""-$3;
M*\+O$;W"H>+W`IW!Z_T6X7OU()_^I/Z-$58\+?$)8_:^+O`VX_5VXOQ!/3X_
MW.K3O_'HBI/A7XAM]ZF?&/@L%T!*Q_1AAY+0`[?[V4NJ);)`W/7UUH;W<8W=
M.(5A&6/X514)\*/$+Y0OQBX)4EW=4@+XQQ%1W1^J%@U7:XI>W7X:Z>JNGX2#
M`Y_:J*X?"SQ#:W2UXP<"N(5U!/%>&)]KK^H`:D;[_HZ:PB\_J8>(_P#S7N!?
M^*W"_P#>G1$?U,/$?_FO<"_\5N%_[TZ(C^I3X>ET.'Q>X*W[>JAQ?A@'=MZ;
M"J!VW_#1%<_J5^'W_->X'_XL<5_WNT14J\*?#]6VWB]P'Z]>_B_%%?R=U6O8
M[Z(J/ZD_A_Z_U7>`-_\`[EF)?[SZS1IS*+W^I=XBI^5/B]P'L!L-N+<-`]-N
MF]2%#32SL^2P:T5M7ACXIEM#?]6G@GL:(6RA/%F&(+"P.BDOIJO=?)/_`+TT
MP47I/Y*MKPJ\12-Y?C-P7*=='N.NN<7X?\J_U0V.VJ!([3^D:%=8F.:3J"H?
M\)O#]2DE'B[P*0!\>+<..QW)Z=]43K"[*I/A/X>=H[O%K@@JVZ]O&^+M`G<G
MHANL#:?7X:BB6]9*0UOZ=<#49=U45@^$OB$3T\7>!!__`"LPS_>G5JRXJVCZ
M#X51>?U)/$/_`)KW`G_%9AG^].L]2+F/D4PY(_J2^(?_`#7N!?\`BLPS_>G4
M"[;U'`QT(IW(O?ZDOB'_`,U[@7_BLPO_`'IU%Z,G)80GPF\0TJ2?ZKO`O0@_
M_&MPP>AW]14@C^+KJ:LK,'ACXD?K)\8^"V%H!4A;7&F)A7<.@3NJK=`20>O3
M1%4[X9>)FR6T>-'`RVVMVVC_`$6X<5*;_7W7W4S?7O4>G71%9_J8>)9ZJ\8>
M!%'\5<5X9O\`P?\`BK48NN1-X6UCYU'W*/(UY=5H-.]']2_Q(W_Y+_`G_%;A
M@_L_E.^K`/#XC&\AM13*N?<M!'(31P.GO7O]2_Q'/_\`:_P.?]EQCB*Q_(JM
M(.JX[7`!^\?JM_20*XWX8^(Z=]_%_@/8_P#\*\-/_P"BM=(X3:5Z#B_5G7A\
MT]'`KG]3/Q%_YK_`?_%5AG^]6NG7N>7U">C@[595X8>([BB'/%[@7L!^4CBS
M"_3]`_*NGKJ,8I'.+B,^U2/2V@:,17_2J5>%OB$`2?&'@I0'7M/%>$)[NH^4
M%JI#G<KT`'4GI\=;1Q.:^IR3HP,\3`-7=_!1!=S;[)3G/Z_%=ZT\&(GDC`R%
MW%GN&Y-7@-?G;.3QX/Y@Y0KJ)<)AS\T^A_:)9W[UI([0=QJ2BDMR+XS_`&^N
M*<7<S;DOA;QRP?$H]M0TCU_DN`8E6TJ;W)[R#C./0%RI-8ILSK:_LH\-A/\`
M/>=2D>NG6N&'3%Y>^B)>.>%?B*$EZ3XX<'IVV"EGC+%TI[$GL2M/;6I26@`.
MH&VW76OJKSB,.]*!-#S?PQ]M3QJXWO.8N?N,O%OB#B_&GJN/?9YG6"8?28Y5
M/7=Q$H*=N98RJX,-KL[F<Q&8!/[1UU`'J-:,FCD\IK\"E%I?'K`OM9^5^%N\
MC^-6)^)'-^#1[>5CTK)^.,.P/):R'=PPTJ35S7($)QV%,;;>0OL=2CN0H*&Z
M>NNJ)]V?"WPY<8$EKQMX-4PM80%_T38ND;E80E12:M*@VLD;*V[2#OOHBK=\
M)_#QM0#GC7P@V2XAH'^BW%6T%;BNUL`FN"=W%=!^)T1-AFO!?V]^.\YX@XYR
MW@/A6LS#G?(,BQCBZO1PW76#617N*8K8YO=PG)T"BDUU3]+C-3(E)7,=8:=2
MT4H4I6R21.</"OPZD)<"?&_@K9IP-.E7%6*(2T[Z^VXIRM2E*QTZ;[]1^(T1
M--S/PG]MGQVXYR/E[G;BOQ>XOXRQ%-<<ESC.>/\`$*''Z,VTR/7UJ)TU^M"6
MW9L^6VRE&Q7[B@-M]/5^G(94@N/;G\BMFL<^NG@*IJZT_9UMLNX0PFK@^%%E
ME_DMB:<ZX#Q^!18'+L>7,/5]2$Y'@S3$%8O*LJAO#W&U;=S2P>J%`=F74T@\
M!K]NY<WO9'YT\',?"?VX/'OC[(^4^<.*?%WBGC;$8S4K),TSC!<.H<>I8TF2
MQ`BN3K&97I8;^JF2FV6D]5N..)2D$G7(U)J<UL#7%,+;YQ]E>JH.#\FM\C\%
M:W&_)J1'J.!;1QGC)%;RQ)_,6*QMK$%",E-G[5O(;B+7\J&I2PRHASY=;,D=
M&[4W-%MZX?9YLU^0BH$3P[F.>)'YH?))*<6PQ*N$DTWUHMU\@)_+0:-NN-9(
M#RG-T(+"P3\IVZ^KF1//P_X[_;IYZX]QCE_A?AOQFY.XRSB(]9XMG6*X%B=M
MCM]#9DOPG95=8-UO8]'1*C+1W=`5).VN3WND.IV:)RI?A!X>L,+6GQ?X&ZG_
M`,V6*]>O0_\`BX_CK1%J_P"I5X??'Q?X&VV/IQ7AF_I\/_!(T14(\)_#X)(3
MXP\$MGN)(5Q;AJNX=>G2J.VYVT1"_"GP]6D`^+G!&X5_,XMPQ._I\Q_\%=3H
MB]5X5>('N-E/B_P-V)`W[N+,,W'\/_@G<Z(LM?AAX?*2I/\`5BX).XVZ\482
M`?X=JC?;1%A.^%7B.$[QO&7@=EP$;J3Q;AB2I'7N02:1P$*Z=.GIZZ(L.+X2
M>)[2W??\;>"5LS'$I?9;XGPI@-,)25[*+=8H/%3P!WV!_1HN,D0>\./!7E^$
MOB"I14/%W@7KUV7Q9A9._P`22*D]=]%-AZ311QI\*JC^I'X@_P#-<X$_XK,+
M_P!Z=%Q.:N-^%'B(TKN3XN\"@[$?_&LPL>O_`+Z=%A7_`.IAXC_\U[@7_BMP
MO_>G1$?U,/$?_FO<"_\`%;A?^].B(_J8>(__`#7N!?\`BMPO_>G1$?U,/$?_
M`)KW`O\`Q6X7_O3HBH7X8>)8[2CQ=X%/7K_\2["QTV_\DCUT17'?##Q,="5?
MU9N!D+0I`;`XKPT]C))^M:W_`"KTFH[4D#I\O71%Z?"WQ'[NGC-P/V[]`.*\
M.``]-@/RCX#IHBI'A7XA)6ZI/B_P+U'R?_$LPP;GIO\`_4C_`$]$1_4P\1_^
M:]P+_P`5N%_[TZ(C^IAXC_\`->X%_P"*W"_]Z=$1_4P\1_\`FO<"_P#%;A?^
M].B(_J8>(_\`S7N!?^*W"_\`>G1$?U,/$?\`YKW`O_%;A?\`O3HB]'AAXCC_
M`/M=X&_BXPQ!'\OMUB-_7XZ(C^I5X?+^9SQ?X+"CZA/&&&J`VZ#8KJE*/3].
MB*EKPI\2VV_::\;^"F(Q7]28R.*\/W^H6LH4KZI-1]0HAD[]I/9\-$5"_"GQ
M$<4'G/&#@EV0LE+BU\7X80&T?J=#4]=Q_)HBR3X5^'_:D#QBX(&WJ$\4X4KX
M#U*Z@:(K9\+O$5/1'B_P.H;>JN*\*2?Y$U.VB+S^IAXC_P#->X%_XK<+_P!Z
M=$1_4P\2/^:]P+_Q6X7_`+TZ(O1X8>(VRN[Q>X(VZ?*CB["P5$=1OO5`;:(G
M1QOAWBG$L4O<$QGC+!L<P;)X=I#R/#J'&*:KH+Z+9P36S8=S41(K5;8Q;"`M
M3,A#J%!UKY%;IZ:(G,T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1
M&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B*AQ24-K<6GO#:2[V=B%EQ3?SMMI0
MM24J<<<2$I&X/<1MUVT1?-+R7]K+S/Y:\@?*;#9^-^'U#XM>1_G-QSY:2?(:
M;D>6Y+Y8\?XWQU#XME0\1P##6\!AU.,WV16_&R8[5@K(U"L1/D/AIQ7[-1$U
M/,7V;_-OGK#O+JFY/R#@V]E<Q(P+-\5QM_EZ_P`6XXY(YIXZ\E\AY*AWLFIX
MJXPX[N.+<<R3AZ\5C[[S\K+KU,U"GUS'/;8*"+H+X<?;YYJX8\T\T\A.6LOG
M7E;;*OYN"S,9\@TW.)4&`9-@^(8M5\(9#QQ?\11\[RZHXTFT3AIK9_,E0RME
MF5^7MR7)'=@Y'N19?E=X1<[\R_;[Y2\?>+>/^"\'Y9NO+&LYGQ;$<AYAY1RO
MB?,JO&O)>HY8CS,SSK(:#)LHQ^9G]/4K=GTL*"_5UTV2JOC;14IU76W`9##Z
M!9[%"O+OM(^9G+)Y5YASJ?P%Q3FG.O.'%N4\M>(OBOGTSC[AK(^,.*.+,EXU
MI&W>6<TX4RZ);\I2<CO&K=Z=(PSZ93,>/%+:9$=J6+2OAHL*O)?M'>:2N4_(
MB\Q_D6DMHO(/C-6<6<$^4'('E)SQ8>0GCM'IN,L<Q&QX3BX#0T51PKF./W=G
M1S/K,U,"-:I-J_,3#2XI:%:HM!R3]EOR$Y#P#'<=JLIR;"6L=\?_`"/9QW#[
M+S#RV;%QOR9R[+N.,IX<OJ.WXFXIX0H5\98U)QBRLD0U526:N=/42S,"P01:
MCF7[,'E?88W=81QQ(XSY:X_A>3F3\RXQQ[S=Y7^1^+19M-R-XKT7%^?Q++DS
M$*NTY2H[2XYK387K42+-5&6V$]$,O+:!$XE/]HCRXJKC-[;,^<<CY>R1WQ35
MQ3Q1R;7<^R..H&%96KQ<MN#'>.LYP"?Q)DF89?QW-S*<+-,Q&6PDAY34UZ`Y
M-:4XHBFSRWX%<CX_]KVH\/?'5%3;\J/4N`*RZRY*\AN2<=?M<W0_1V'*6947
M/EECO*N;461/WE;(E53S%4N,A/[)#,9M0VXRP"5S7')I61-T_",RHJQ_!3[A
M/%7&?VI,2XSP?PHSC(/"*[EYOR]DF9\E9?AMPKZ^/GV-OX%B5I1<8V\K-ZBC
MH.0WYLZXFKIS;9+!^I<@H2^2CGUA""#@0L%AE[ZKI9Y4PO+CF/PWOX7`'#'`
M&-^3V1V<9>/<<>5.0Q,TXQP=NJRI2JG.;67CV+932W.35M06+FLK5Q'66K"0
MAMQYQ,=7?)!U"O-*:<.2XH9%]F_S'N>.^(,8H,,\),8EY9XY77C-Y$1LDSC/
M<\1Q"Y>^1+W-=[S]P#>KXRQ]C)N1\SG6,R;8USD.BB1+AQM+#OT[+;:<HNC&
M'>/?GC@/FUY=\M1>(?"N[X-Y?X1QCC?`FKKEG/XN>9Y<<11LI>P._P"8\.:X
MHD8\A7(DC+S%RB4B59.Q(L-E3*'P5(T12+^U+PWY3^.'BQ2\(^5^+\"XKD^%
M97E*L*/`^?97G%!=XQE&1V>7B1<2,IQ3$'JJSB6%])B(B1HIAIC1F7$J"G%M
MMD72V6]'^AV2_P"X`K8*VW425GU]-@#TT1:G1$:(C1$:(C1$:(C1$:(C1$:(
MC1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(O1Z_Q
M'_2.B+S1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:
M(C1$:(C1$:(C1$:(C1$:(K$G^XG_`.6QO^^F=$6'8?W,_P#E.N_]O(T1:=__
M`,<R?]G$_P"]CHBV%5_@-O\`^58'_N&L'(HL:'_X[/\`Y.:_TWM5MMP6RRX7
M]U<_^7O_`/UU3JU/E'>M5EC_`,:.?^2[3_;UZU16)7^"G_=]7_MHT1:NL_N\
MS_Y;._\`:L:(MQ6_JUO_`)3E_P"T.Z(DU6?X'+_W2K_ZQMZZL\CO@HL_[K>X
MK<0?6R_V<C_:;/5#?<?BK2S_`"^]6K?_`,;2_P#=.._ZFK:/]MO^D?<HQS*W
M$'^YC_R))_\`:NZW6%IZ+_"&?X8?_N6B+)H_\#5_H_\`JE9Z(LYG_`_^V_\`
M<SHBS-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB
=-$1HB-$1HB-$1HB-$1HB-$1HB]'K_$?](Z(O_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>16
<FILENAME>pg29.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 pg29.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@"70&J`P$1``(1`0,1`?_$`/0```$#!0$!````````
M```````&!P@!`@,$!0H)`0$``@,!`0$!````````````!`4!`@,&!P@)$``!
M!`$#`P$$`P8-!Q<&`AL!`@,$!08`$0<A$@@3,4$B%%$5"6%Q,B,6&(&1T4)2
MDC/6%U>76)BATB2W.-G:\+'A8G*"LG/3-'24M-0EU5:6MC=W>#K!0U,UE2=*
M\:)4)@JJ8X.31%5EI49'&:.D187%-F:&ARAINA$``@$#`08"!P8$!0,$`@,`
M``$"$0,$(3%!41(3!6%Q\(&1(C(4!J&QP=$C,^%"4A7Q8G(D-))#!X+24Q:B
M-<)C)?_:``P#`0`"$0,1`#\`];>9YWY-7'DOF?#7&MUP[78SCW$7'_*L&?E.
M/9+:7X>O,VSS#WL>2F@R:,A;*DXF'2LC<?.D;=-M`+/ZC\V_XQ/'G^3K/_WW
MZ`/J/S;_`(Q/'G^3K/\`]]^@#ZC\V_=R+X\C_P#M]R`U_P#)C+B1K/RJS$[3
M=%M]-@VE#4>;S*T%'(WCF7%*]-"7L$Y!>3NM*DJ(0<M'4)WZ_1J#E2CVM5;K
M1>G$:'#K(OFQ.<EM0N0O'14.N>,+O9P#/V>^4E2EOJ"EW\[U4?$!N.W8^\ZJ
MH=VCW.Y[O_;_`!]2!VTTGFZ=^[D+QZ3]&_'^?/;CZ=QD$#;])7WQJZQ_A!<:
M/S;W_P"L3QY_DZS_`/??JVA.,8T;U`"B\YCOZ/(OCQV#W?D)R`V4_3N@98KM
MW/Z>CG:>UH5$!E[_`)QXW+QI#_)GC2VB[R:)1*CJP'/W'I#-PV2[)=5^5^Z&
MF7&0E2R`E)(!()U![C=A&U1;`.0U3>;/HH)Y!\;&^UM!6@\=<A?BOA'PJ4<O
MZ=IZ==<^V7HN+!K_`%)YM@]W\(WCV4@[_B\(Y"[R!U^#?+".[;V;^_70#1\M
MYGYI\2Q\.O;G*O'>9BECE];0YMD+6$<@N2<2IK6JDM,Y%:)3E99,&NR0LK=4
M2E*6]^X@:`<Z!`\WY4*&\GD?QLEL/LI6;!GCS/RJ<IU"9$>2R!E_:IDQEI^(
M?#\0Z]=`;OU'YM_QB>//\G6?_OOT`?4?FW_&)X\_R=9_^^_0%#1^;?\`&)XY
M?_5N.N0?_D=LO_3U6YMIW+D7K1('&O5>;&/Q8TR1R)XV"*JSKV'#^17(<()^
M9>+"EK2,J<'II[T[K)`!(&I6--6U1[0=ANB\W$--MGD7QT);2I!+6!\@2A^Z
MN+'>ZK+4'O"5C=.W34J<U.7.MC!=]1^;?\8GCS_)UG_[[]:@/J/S;_C$\>?Y
M.L__`'WZ`/J/S;_C$\>?Y.L__??H`^H_-O\`C$\>?Y.L_P#WWZ`/J/S;_C$\
M>?Y.L_\`WWZ`/J/S;_C$\>?Y.L__`'WZ`/J/S;_C$\>?Y.L__??H`^H_-O\`
MC$\>?Y.L_P#WWZ`/J/S;_C$\>?Y.L_\`WWZ`/J/S;_C$\>?Y.L__`'WZ`/J/
MS;_C$\>?Y.L__??H`^I/-KK_`.\7QYZ>W;CK/SM]_P#^:_IH#5%'YS*:=]/D
M7QM4DJ64G\A^0=^P*'M2G*R`1[_HUO:^)>F\7/P$G<P/.VG1&=>Y"\;9D*$_
M4BX6..^0FP:93;GIJ;<&6E/<VZ?B(W(]IU;V>1VWQU_B4.;7D?D9G)?F:Z&V
MFN6?&M)<(F16X6+<A35_)C;9"D,Y2YNL@;;';<ZK\E+IM[R?V1MVJ,4%?7><
M$ILJ3GWCW%9]I*\$Y!<5*V]BO25E8Z[]?N:J;3?5\"9-_P"XINHSH?4?FW_&
M)X\_R=9_^^_4PW#ZC\V_XQ/'G^3K/_WWZ`/J/S;_`(Q/'G^3K/\`]]^@#ZC\
MV_XQ/'G^3K/_`-]^@#ZC\V_XQ/'G^3K/_P!]^@#ZC\V_XQ/'G^3K/_WWZ`/J
M/S;_`(Q/'G^3K/\`]]^@#ZC\V_XQ/'G^3K/_`-]^@#ZC\V_XQ/'G^3K/_P!]
M^@#ZC\V_XQ/'G^3K/_WWZ`/J/S;_`(Q/'G^3K/\`]]^@#ZC\V_XQ/'G^3K/_
M`-]^@#ZC\V_XQ/'G^3K/_P!]^@#ZC\V_XQ/'G^3K/_WWZ`/J/S;_`(Q/'G^3
MK/\`]]^@#ZC\V_XQ/'G^3K/_`-]^@-9RG\T^U]$[//'E;#T6;&=4./,_!*7D
M.MP5@#+]P$/M`J^@'Z-`*?P^Y)RWECQ]P'D_D15._G.21I\;)W*F-*BU;MM0
MY;>XO'>KHDAQZ1&AN?*E:$+4M:&R.XG8D@>6;YVS_P#MA,_\5_\`5_\`KN1_
MK7_Y4_=/]8__`$K]S^YH#U`U:V?SZL_0IE7S(\3>(=G]CV@-<Q\MJ<^+H-T)
M/7Z!H"6)6@)"RH!)]BM^A_1T;257L`-N(=1ZC:DK1W=O>D[I[OV.XZ;ZUYX<
M4#(A2#\7<"GN"201MW*Z)3N/>HGIKK:OJ#;A[SIL6IAR4=6TA,9)-9C09KB7
MFT264A#3A6`(SKRO1#CA]J`$.$;GZ=>/[[W"U?D[4IP4^%=?8;\DVN9)\ICI
M*WZLKH\<).S:QWN?K7%N]KGJI/L*5E70^_55V2Q\I.Y.[[L9M-5TKY&J:JUO
M%(E:$$-*4E+FR?@4H!?4;CX2=^H&O96,O%2UN07K0.'9Y-C,`*1:74",AISL
M4$%QV0V]T^!X,$A"`-O:`>NLY&59E<K"<7&FY@W52&IPB&,E3D>0VIQ,Z`XX
MVP\$?N27PKXD'M&W7VG7-77):,58VG)&*JRG$,A9;B(1E*:1^'124I*WH$IV
M*Y,+;+FWXQ;DF(EX)'N!.H_<ISZ*\C91D]4F+'#,FB9/BU-?MI]2+<5=>[)]
MY*WHZ/4+G0E*@Z%`@^Q0(]VM.TW+E?6.2?!U%:H#L4$^SM(2/N;;`?I:OC41
MV;XQ2YGA>28ADU;]:XYDU)-H[VL4X6$S:NQCJCRV%.D$(W0O<;@[J`&@(V^,
M64Y/32<OX!Y+<2,TXCOBG&YI>2RYE?%-G%81@N5-QU@+2RF$M%=,9`^"<P`0
M%#;0$OQ(CEU+'KM>LM"'$-=X]12'"M*%A/M*5*;4`?9\)UAM+:"KC[+)0'76
MV_40'$=ZPD+;)V[TJ)[2G<^W?6.>'%`O4MM)[5+0#L3^&D]`$DGH3[E#]/7>
MU;C>@Y*C:8U$SF%,N]HK*H.Q$V&666P`IPN/E?8M(&Y[42VX[AWZ;-'Z-4V;
M<Z-=P-#`KQ^WQ2!,MW$(NHH=KLB4LI0HW-64P9K[B3L4?,EE+B=_:E8(Z'6^
M'F6)6%SW(J>NE0+)3[*`M2G6TA'=WDK`">Q2$+[NO0I6XD'Z"H:FJ]9>JE%^
ML%_<G]DG],:Z51BJ+M!5<0UGEEP8J@TH^!FJ#6`&@#0!K>-N<E6*;0#6'"<?
MB30+5*2G;N4$[^S<@;_>WUE6[C7,D^7R%4W1;3B7EW!H8OS-E,;CQ7G`VEI+
M.[SSBAL&T;`EUQ7NVW.N4IPA\32\SM''OS^&$GZF<V#=FW@K>AU4^,TTX8<=
MJX*X@EM2#NMR.U'2E\M['W]1[];6)0E)4:9&O7;<*\\HI^9PLH]%<"X-S8^A
M'GQWX"(*'2F)!CMQU?NRQU:+VVP/0G?IUU>6H\MJ3:TIM//Y=^Q).,9Q<FME
M3:XYKJNLP^A9K*]F*CZNAI#D2'\NZOME=Y#\V8$ORD=O524[J(ZC57D2C*+Y
M74L>S2C"VE)I/Q'#_4_4U66X25U-ITU)\]<CF7PZZ^LIJ6;AH`T`:`-`&@#0
M!H`T`:`-`&@#0!H`T`:`T97[A-_TN1_N>/\`J:`B9]G]_<K<9`>TV?(.P'M/
M_O#R?W:`\P&Q^@_^+)V_1^C[^@/436J3^?3R)(4I*8['B?Q?ZKRU!MH>KR_R
M\EM(<64H45F,L="?P?O:`E>;&.DK<0@=WIH6ADI/XKU>C+A"AV]5$:TN?`_(
M">O,IC4[RZ^3%O77C'$M(KJ&QL(Y6HI]JH,-YA6^YZ%6^J\P;-5<(MFVY,:'
M;1#W!D(ETSM=W+=W2ES>4EI22@]>HU(Q[G3<I?Y6<+ZK&/\`J0G<AF3)DN#!
M@@+>4"^XS,"$Q+*(@K27)'9W*+(D]H(.RB?=KY?W.:O]UIQ9=6O^&S-25N3,
MO?.6DNH+;H[Y5/40E1VTMJ)0RAJ6XLJ>=;2-SN$@>T:^A8?:NOC0<N!2VG^K
M/U"N3%:1NTE"E)4%.HD/M)?6VKW,E16E7L/W1TU)_L5LD&BB@I6)0LF:Z/\`
M64E(9ER4PF2X6QN>U1=<4E"=R>H!/75??P.C?Z<=E*F=QUH[9:;[/1;8V6YL
MVT\I]':5'M5ZBDH.ZQU(VV3[-66-CZ:;#!9+:44K4E;Z5+3&>!0ELI0[!"FU
M-[J4#_9D=PI'N^G;4?NBI;IY$RVO=3]-1A^*5FJN<[P>2^MJ3C.:SW*B,-NQ
M&-YLTF[QI/H`[_+Q'*Y]CIOL=_=[>7:MYF6RI('J>I&Q]X'L!]X&KLA%J@"E
M0)6!VJ_`[2L]#T3W?#NKV:`AYY(83F<!['.>N*8#3G)7$*S)D4;3:Y,C.N,)
M*F)N?\=PV-TIL;:6W$:?I/5.Z)[/:-@OJ`]5%REBV:8/6<B5-G$E8_<43M['
ME(8:7Z#0J_KZVKP&7G&7[6K@,N0K"&Z4EB<RM"P%!0'"_P#!ZP>?>)]I%]I?
MR]AT;R^X-XJ\3,?\,\AY4L,/XTXNY:S]S!N?.8L+J,H>Q=O*X>4WTZ/QIBS5
MTF(](AQ@A[U8S?<K8]I,54%7ZCZ#YO\`:G\'\:Q_,2=D6`9XT]X1X+POE_(L
M?'VJ*YKLA_AAC+?J3@#L14=.1III`6W(LG"W%]+9QO=/<1885Q1MRBWM?K]O
MWBHD.>/M<.%N!^?N.^,LUXLY.@8UR`_PYC<CDTV6$5>+P\AYNB1+#$ZFGQR;
M:1.0N2&(\BV83:3:YA4&M4\%*7VE*E56?;>15+5F:C>M_:^<'X;SQF?&-AQ7
MSK68C6^4]+XIY)S))H<>5Q%B/+]Y3QUTK#<^5-A7%M77]A,886^H*GPGE#N:
M"0">.)VZWR)R^)_=4;#J5GVU_!L_EK`,!K>"O(J7AO+/D1)\;.->=&\.K:[A
MS-.4:R78M9@]76SEQ)MG:6KE5@;3(>8;3*2D.-[I4#KT-CMUJE--AAL^T;=B
MPR$QVT,=K86D%+X=;2ALJ_&*?64]K"R#Z;B^U+@_!)US:2=%L-U;;U.@F0VL
MA([RLI"^P-N*/:1ON`$DJ&WO&^^L;-3/1>W0O#B"D*!/:>A44J2E"MP.QPJ`
M#3A)V[5;*)]VN7S"XL=&7`KWHWV"NX@-]P2"LH]8$M^J$[EKO`_7;:VC>4WR
MU9AVW%5+M;F@:`-`'T?U-3\:?+;:?$!N.NZDC8H!*E)3U<.R0.XC<DCW:BY6
M0DJ`P*23(+*4^NXO=(0@A7IEOHH[@E(Z]?;K:WEQ=E0WF$N67,<R37PI[K:I
MD),Y5>DI;<F#<Q9`)(=BHZI5VDCJO8ZA7;#O.J5:_86%O/=I4BZ:Z^/@<:VN
MA"5$881\W9V;;C<%Q'8E+*HI]-^2XR.H[5IW60.W?WZEV,9VZ)GE<F3O3:7%
MG$B84]->:LLIL4V5@PK8L1N],*5NKX%+;6$A00-M]Q[M6+R*6I6N*H5C[;*5
MQ3W)H<%B*RPTV4,%#K;B6@ALI$9+&^Q4RCIV@#[F^JDOL7&:-X[_`'-"VE9Y
M(<Q30XAH`T`:`-`&@#0!H`T`:`-`&@#0!H`T`:`T97^MYG^EO_[G8T!$K[/Q
M:?S6N+SN-OK+D,[_`'$<B90E9_0.@/,)WI^G_P"%E=_L/X/T^S0'IQBU`G>>
M><.64ER6W%\4.'EL1FR6:U[?F3FXA,B&/B4M'S*.OL)^]H"9(`/;WQVEI*UI
M=0>U04P@'T1VJ`2KN]A!Z:Q*+E%Q6U@Q",WZ8;0VTV?4+A[FU(!'7\7M&D)!
M2G]+[FH4[4X?%2@^XJ\^I`0\ZVIMN+LLAE+2DKVW2DA/>MXGN4.GZ>JKN&=9
MQ+#E<;5=-%4YW(2FER[4ZB+A179M[8RV2VN/6(8J$+]1/60WO(F);'Z]""XG
MXATWZ>[7E,7M>=DYBRH*+L5XZ^PL87K<<=V9?&+1EM2"HD>U*1T(]HWWU]*C
M?3L0M8_QP7O;O9Q*R$)*Y*3V.E#8W^__`%-8Y\KP]IVH&M';G<GSW-H#5A9G
M:MJCK4%7!WH"4^T#;K][;_RZJNY8]R_7I4H]=63;?P+R&#D=]3SI0V3;'I0,
MSQ"^QNS?7$6'7;K%G?G*]4>?N&P\FNFN>AT)5LI(]AU"PU\G^]]FIF2JFA^A
ML$IV)("4@$_A$`>U7^6.W7[NKK'_`-TJVMGCH02]&W<DJ_!W&_WM=+EJ5OX@
M8WV@M:2QZ@5ZC0"FT@K2E2T!Q?Q?@I0@G=0^)(&XZ@:Y@@%5U;W`7*\_C"11
MMJX8Y[LLBL,*C5A3%:Q3DZ;,<_+/"XJG1\I#I<RI"NU@#HX_9*E-*)+R=1<N
MY&W!.5:-@^-G*_\`\[_Y1RC1PO'J%Y:^IX*U6=7_`"=BO$N2\48[DG)7%$CD
M!ASZ]H^*N1A8,?4E8Y#*H=(Z['6*Y(?)3W==<;2=UTAO#0\_D+]C!R_R&]Y%
MXMPGY/Q^*^(?)SBW@/C;DO%<AP!&892S&\<:*%C''T[%\OB9!1RJIN[IZY"K
MAIUF4%/..EI*?4.\F6%DQ7/[O)YHZ1M2G%N.Q'#YB^QCY`RGFS..3H'D+QA2
MX9FV;^.W*5^SGO%;V2<D5EOP6,0BS^-J#E8746TIN$\V9QE2G*CT2I#Q9"R4
M((U7QRL:-SIS?O'*;5OXQ6\@_9SX5>83SQBKWD1B5M+Y>\].-O-.D>7/K&Y.
M#1\'L\5:7C[L1NREQ+*5$$!QI0"66]@E6P[CJJSNZ0Q<II-\BIL1B$XW'2.V
MI%'Q)\/+WEGE*JX+C<B\L\5\0>!?F'<>4'&'$>;<%(IF<A9R.WO7E4,GFJ#E
M*L=Y!Q6*_8+D8\:Z,S)C+=69A<:[`+?M?<;N=[MA[M^A:6NU9EV*G!1:;2V\
M3[0VN=>/W+F>VD/,N7[>V]&YS.@H\<I<@O\`"*3!KCC]N')SJ%-M<<M*.5.M
M_EI[:I9G2'(YW)B%0VWEX^;CY-V5J#?/%M.JIJMIZ?*^F.Z8..KM^,*\B>DJ
MZ/?I[:;>-##G<#@/B_"8W(D?FKE["L&=>G1_4X\Y#O[[&BW7179EC83*^T8S
MAE,*`RSM)DN.H6VZI/>$J5KMDW(65R2K66BIQ*JQ@W+NE/?BJZ^FWBCM7V)+
MQ.AKLWI>>.>%Y!;18#6$T5OE.,9DG*C=P6IU6Q2U5ABS+WHR(;Z'G7G@IYEC
M=>X*=5<[.3;594]IQE"$*N5'%;UKLT?L9*SB+&<IQ#!J&MY`S"QRW+(;,:9>
M7<R-40WK"1-<<?CL2#!JXR92*AIX-;H4DDC3&N3^84)%;?OV))PM\W-XH=],
MJ,N2Y#0\VN4VD++"5`N*2>O<VGVK"1[=O9JX(9?ZR"%E.ZPV=G>Q)5Z7O_&;
M?@?HZZ0MRN.D:>MT!>RL/@J;"E(`)]3M5V=/;\6VW36[QYI5K'VH%H=!W[4N
M*2#VAQ+9+:U?L4*.P4=;QQ[SC[KC[4=K=B=U<T>6BXNAR+VR%96RY@C+FR(+
M"Y#-:(CKTA;RBEMEPI;W);2X1O\`1[=47=%<Q8.Y=UCQCK]QI.W*W\37M.#C
M+<]I$A5H\X+"R)=G/Q75EJ$Z=E)C,H".I:!"5?=US[>[N39C?A^W+971^M$I
MXMQXJO)PY6N*.E<6**FNES9,AUMF'$?ER7.TN"<W'(2OO6.TIDKW`2CVG7JL
M2TM%+:>'[EW"./)\[>G#42F&T<QZ=,R>:$F?;NI56LK<"FJ.C&Q$!E*O:NU;
M(6Z1^`I1!]FNV3>L_"JT2X;63>W\V3).";J.2&E]W0``$$#<'8`^S]#7GKM_
M]2BV-GHVK-BWRW:J=-R;-D'KN=_N=-=N9'.SD6(:R4O8R@)W/T=?=K>*ZCY8
M[?$DY7<<3H47-N_E9777H3\/:B!:O0O?!7V!]_7.Y!V]9;^&IOD36,E*ZG1\
M%4-<^9>)K"[&YK&OL#64ZJIU:H&LF`T`:+70%`>[V?J:[7;$[,>:=$O,E2P[
MT55TIYE?T-8A9G./-&E/,C-.+H]H=?H.L]"?&/M1@.OT:RL>X]E/:`UQO?H?
M'0!K7':R:]+^7;4!_4TNOI?%]FH#6L+D;D>:-:`-;@T97^MYG^EO_P"YV-`1
M!^S]_N5N,/\`9W)G]LC*=`>8?_"Q-`>H^LZ^=N?#Z/$[B;_]&YAY:6O]L%=-
M`2U&MH?$"U:NP%02I6WZU/X1W.W3?;Z=<,CX6-QSKJ1\C`GOK':8T<O-[D`.
MO=OXEI.Y&Y4X1TUY#OEOJ68Q_P`Z`G\,K_J^LBLK<W=>B)FOA7<7%SY;KCDY
MQ2B-BWU0$[]=AJ^[-BOY94X`6>K*-KI2EXL!KH`T`:`N]W^+Z!K-W9ZB;;^!
M>0T?+%:MS'(^1Q_28L<$GR<TKOBE!I1IXSR)+$H-M%0^=KY3PV&Z5+[=SMN1
M29>B9E[7Y#@4MY%O:RJLX25JCVT&HGQU;MD>A<,K>C+/:L_"&4%P^\)(]^^I
M78\KW:/;0A,[7^+_`!?H:LLF^I7E!&"U844+2D[%:%-D[E/PK24JV4.H.QUJ
M!I.9^.:GE+CZ[Q3(&2RS(6N=`LJQQP6^.VM:&)F.9)C[ZE,.,7E):0VY("5`
MNA!:'=ZA2>&19ZT*<'4"4X7Y0B9!#M\8OG79'(/&*:[&N07)-4BKM+DN1A*I
M,S8K6G%M*H\J86Y):+9_$+#R2!VJ&N,%*R]FAD>U&10=REJ5'<D@]S;C:D+A
MK;62D`2P0RI2.TD@'\$I5[%`Z@]R[G>MVN6WLIZ;R58^!K=4;;+'X^7VL'$P
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M1FUNMB2W=X(S)JHMIE]C86EOCN/Q&[AF3`J;*UD(^HD++@K$H4J0N4DI;%W;
MC/,FGNJ>>N]PP;2=V%-FCT]?LWDB,!X]/&.1,9#F]V_D4V#6TV+8=9.Q5S*'
M%L:K*>.VJ*A01V1[.XEQ_7??2DAD;-()1N=6=_&3C6FIYN?<<2^N6+7)X$BJ
M:UH\@8;FUELS;U\9QZ.E]7JMB0IQ?J/K9+B$>NAAT;#MW.JB&/R9'-O1$O.Q
M*#E!>\;-I1JG+%I7+7$MHR>^/):40R>W_P`VZ`?4*%CH=AJ<0S=C2K-KTVY;
M#(ER(ZGIBHG<8SSB%)0$J]0(6.X*)(VUPOSNPBG:574%MA*R)$%:J")6&S;"
MBQ&LY4R+6E!&SP4Y#CR5EQ:/9W)`!]^HO7R^!DY-%<Y#.'R]YC;%.S&:6\W,
MCW3,^$J:%#X%>FOYEE+BNJ4J0"1K-K*RUDQCK1^?YD'+RKN/)1M_"T:EYERZ
M21#!AOR+>;7SG68<*2R#.=;6RE2&TOJ1N(Z$A:M]M@>F^O52[;'+L.,Z4T]7
M'<4.5W+)6]^GK.,,XR%+ZV&\"R9"GW'7B_\`6-,Q$4I1!4M"WIR"$K/4=-4_
MR\,6X\>WLBR`N]]RE^DN;E]?YG/>AW^;R&E7;#M11Q9<!Y-.I]N183WH_>J4
MA^3$+L%YAY?;L0X00.NK?'JE5;:'-V)Y:Y[RU'.;EA"PRU'V=;>5%>2TIL,1
MI"8B9*6BXI00A+G=Z:-]OB'7IUUB[:C*-=J:K]M#UG8LG&A+E=--#MM^I\`<
M:<9W`]7U$C\05>P.%)/]3?5/<QD[BE'X:[B[S<K&E-1JN:I8ISTU)2\EUI2T
M/N)"FR>Y#'4J'9W`]X_!U(Z":JN)QYL;TH"7DK3W(2\OZ!Z+B?ZJDA(V!^G6
MMVQ<C"MOXCG=^5G#ET**>"0DE"^J@E8`[E-I.^[BDCJ4I.P.VYZZB\F7P9QA
MDXN/OBFBQ,E"U+"4N$-J*%*+9[>[V@)_9;IZ[C<#V:[V;5V55=JN!,M=Q[;D
M)]5KW>-#+ZH/L;?('M*&%J2GZ.]0&R-_=OKM\O1TKJQ*6-/_`(]&7)4E0W!2
M=NA[5)5M_FNTGM5]P]=<KEOINARHUM*ZY@-`&FS4`X0T-R.GMZ#W#5)G]QR;
MLN1;/3Q+"[E>YH:(L6E("D)]0N=Z6`AV/VR'D+"!&:6IQ*1)43OV'X@`=]M6
M^!\Q\LZ_$X[/Q*>5_FO)<3"+B(MQ337S#JPEQ2$H95O(]/8D10KM+Y*3W=-M
MD@GV`ZQ3)6W\208S>0"DN,K=F,_+-RDN0VG))])P+*5K90GUFFU*:4D+4D)4
ML;`]1K;_`'<-?S!6-<Q)*E(W0UVK;07%RHBV%>LIA#/HR6W51W^\O=0A14A2
M2E0!V!YSQ\F^JM:`N5;,A:F4,OO2$OM1PPRE"E=[[#[[1<6I26F4'T.TE1^%
M2D[]#J,\?+P)+:E-U%#:AS6IJ"XTEP-_,HCI6M.R5I<80\B4CWF.I14@'V]R
M#TVV)M,9*XOUE5TV`V$+*PHJ0I!"U)V4`.X))'>-B?A5MTUOD6[=NYRVZ<M%
ML!?K@#1E?ZWF?Z6__N=C0$0?L_?[E;C#_9W)G]LC*=`>8?\`PL30'J/K/[N_
M/_\`NG<:?VW>5]`2U]FNEJ/-<4>(8?%O\"=U>X?XY_SHZZTS;72@VV;PASNE
M:#>Y8X],E4%.^%NIFV8D+0VOTU/1JS^S%E9V)"%AO;KKQ^:U??+LHZDB[B=.
MUU.:NO`74=84"A$=+;+1[6G`05=A`V;WV!V3MJ_[;W"-BTK7(WZ_X$0V-6+O
M=;WN7E!C6ZE!0CXO460$[MN^D-U!(#CR&W$-+6H]J`?PE=.GMU@&/Y@E<A+;
M+CR(ZE)+K1;6ASL6&W0V.\.E;#JNU:2D'=*MM^W0&9!4I322$D+2KO<;65M)
M4DD?BEE""\VK;X5[`$:`M2]T5W@)4G?\6E7J.'_.`#8]/?MI!]>3ALIH=XWE
M%)4V'.LHD6T@SJZ87_EIR)%=9MJ<:*4,V<3T6V7`@K6V"@[]1L/8=4?=/T*Q
MVUKX&>M71+0:SB66]65-CB]BP!*Q.[LL>]-*TE4*CKUI;QEP?#\:3CKK?^:)
M)U5]GR96WR-,X,>C[_WM>L6)*XUDN6BUI3\:F`UT!KRXR)D=R*ZI26W@GN4@
M)]5M3:@ZR\RI0(0_'DMH<02".Y'4;:VC)*M54$#_`"FXEJL9O,=\G*NFL;N;
MA"8=-RUC]5(E(FYCQ8E]QU%E`B,OM_/9?QA8OFUIDJ4&PA4I#J7&U=FH]^UU
MG5:($CL3P;C>^JZV]KJ>DG5EE6Q9$216%28+T.5'1,KI<6-ZR@RJ7#D(>*E)
M(<0XGM/:`!!_M7/!J<ZMOA_$L<2WU+<J.C3'!KL8J<=[EU$"'#8<;+4T1HD=
MKYD+/;'$IME+?S!2L_"M6Y2=9P>VVL2YU)4DO*GYE3W&72DWM1P,AS2%C;<6
M%(G"1<//M1D5,/TI5@^IEY+RH\A20TXV5)('J*7M[.G373NN-#+;<*032TV_
MD5D>Z=.EKIM^-?'R(@XEE/.>+<G\U0&>#9EW`R7*(>:X[:7^44U54JK4TM="
M8KH9+\NRD384]#Y*?24GX_:D:\O'`EASYN>OA2GXDB.3.[K&+2\R_)F?*?)[
M&.[/Q'C^J:EI[OFUW&59)"J'W"3\A9T<%Z!C$U^.3VK4H/H41T)UZ.?:WFVX
M\L^25%NKN\T5>/W#+P;DY3K-.3TK3U;S8QW`<W3DD>ZY+RG%+>50Q7TX.@44
M&GHL;MIJ?2LK*HB5/RRG9C3:>V+\VI_Y91)'MVU?]J[4\2/OW.:GA_%D/N7U
M%?O0DHVW'W7_`#;/'8B1$2)D4EEZ?'R*#;Q'G69*X-M72I=4A3$936T6'#,=
M+)*CW#N<[1[]6MV-N?PZ>GJ/.X/<<AO6>B-V%>WM"$-2L6<EU+!*Z]-#,CSF
M(0(*Y;SU<)2764D%2@-G"/9]W4"YB1=9*:T\#T\.\/&L]6XW-+=7_'8*FASW
M';J0VF%-")2U[MQGE)CK7'5LDNK:?+:&U=W0)W)WU'^7_P`WV%EA]ZL9?\O+
MZZ_@+..[)V6)"$1Y#BW'DMOGM4W&;5V]P6E*V5I45`]%:WMVK:?OOFC^);7;
MD(0C).M2_O6^"$N-*2"DI<;45=0?B24#M!Z?3OKI*%E:J.AFVU<5:E)RD)96
MX6V5-,J;=["RWLE22$!:FF4MEX%2O>>FHUMV_F%%PI*FVNS4BYURW8N*,ES5
M5:[*#17$%RTY&H7UIC*=QVONGIZVFU>G!7:MQ6F`L!S97S*6P`/UIZZO;UZ-
MG$YK=75?=4A2Q;.2]&H^JHYYAL=SH?:!D)+;0=0>[TT,I2@-]CGJ-J[0-M]A
MKS*NSN/J-:MEQB=FQ)V%&<ESTUT*27G6(TA$<!*%H4E"E(;"VE$;>HCTTH2C
M;V[``:F6\OD:;A6GB47=[=OMU>3WOL_,B-$Y+R6EL<N?R5#;L/%EQX\F/!;0
MB-83Y-T[]4RI3#SK2C(34^F7=EGN.YZ:O(7K>0DN6CI[*GQ"Q]9W,#(N.4)2
M7._YO'R8HF/(BIL8T"8:.8[`M(:9TUTNAIUIM5@[5(VC*E;])\=:/:.B=_?K
MO'M*N+J<Z5-:4_B=KG_D6S*]&=R,E%-/XG_[1.97Y)>DU!<C5(BQXMIC29+O
MS$>7)12VKKH.\>/.4\%+0SU[0H]?8=(X"2UDJ^1#S/\`S!8QKG);QIW%QZE/
MO@*N)Y%P4L.,?5$Y09=CPY,B,KUG&9KT-VP2S'CN.(=EM&.P1ZB4@=QVVUTA
MVZW*XN>2Y%X;?M)]C_R?._8ZMK#N.7#J+_V&O?\`-<U[$,MN<:KG57>.PJY^
MO78.)$)<^U:9=C1W@TKN5(1'><[FC[%)&Y&IKP,6J@I+D>W0Y2^M\[*BVL6Y
M&7#G3_\`XB<J.7,LQZO9>RJG7*8GMR'<44TPY%E3*Z-!-A<2;"._+W8/SX#3
M'Q*4H'H-M8N=MQIKW)JJVZ,@9'U'W6U%7>E-+AS;?L%)$YN?L;?'(U91M3(-
MW?5U$)HD2VU1G+2D^MX[LB/ZB&PL.H6PILJ5L4]VXWVU57[$+/!L]?\`2/UW
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M,D4X<J%E]/)D9WAN2Y1#Q_"+&K1PHO%>7GJ2GH*C($)6_P`D5F6<8`W,E<]4
ME192`E;05V:L(=CP[;YNM!RUK[OQ5X:Z:D^J%6/,[SX;N?'VK=P"[@7&0OXE
M#Y'B6G&%W$I,SKLNY#OL5RZ[J[&OBJLL1DT&)QH-HE'KL1HZ"K\4YOKG?[/@
M6[7,KL7LTH_SV^)BISLSKN8<I\7?"R%F=9DN(L1N:.8HG(T"UQ[E6YHJNDB2
M^086*6^5U&+R&<F2U/EMQ9$-Y<A++KSC:OA`V/+&MX5B_<N22FFH\%6BU2U^
M]+UF6DT(7"/)3SYXOIO%GB:LPO+GFY#O&^*9I99M@5ODB9N)9QG5S1_E\G)X
MS$B;0VN*R&ZIY+=DA*H\%XK?6L)('/O$.W924[*4>6M=:[MRW:<#&NP^H?V<
M/D%SAY*X/R?GO+M93X_$Q?D*?Q'3U=8'E.6F3\:L_D]R)F"GS93XCU9D.2,!
MV$Y&]-AUL*4E">NO&9>/*W^W/3R,'TJ2XIT=RO8-DI'T)"1[?I)5N?T=0['/
MR>^ZNK!=KL#1E?ZWF?Z6_P#[G8T!$'[/W^Y6XP_V=R9_;(RG0'F'_P`+$T!Z
MCZS^[OS_`/[IW&G]MWE?0$M=;0ERR4N!A["QPK#:O3/Q[;(Z]>XJ``Z?3OJO
M[GE)QVDC'^,2"4(GYG8+4HERMJV&$!.Q:AO/;)>]!1ZE;B"0K?Z=>5QI_,9;
MM[J,GY*IB<=4*X-D*:(<4$MM%LM].Q:B0?54?;WC;;]'7JL7%V46A4E^^Q`^
MG?\`J:LIVNE3Q!\_?M%N:<]X7X1Q2_XXS:!Q]DN2>07`'%2LFGUT2V:JZ+EO
MD:LPN_?9@SGDQ'K2563'(\(O(6VU+6VH;'7,'S?N/M)N4.`.1+O&<OMYG-E=
MPVORDCE6(4N"8K!YQC<>W7$5=QLN?E3LURNQW->/)/**8%VRTT(RGVG7'DGW
M`.->?;.PJ;&#9M<`9"_;T-9F^4<KT[F?XREC#*?#N5Z'B1^)A\Z-%D?EQ(D7
MMXJ4EYIF-7-PHZB7P5).@)6>6'(7+]!R?X:L<=\WW/'6.\[\D.8;E6/T^+X=
M>0YU9%PBRRY=G#O+E)D-2'5164*)/IAET[;J2%'&(EUI>8(&\*?:^<E5"JSB
MOF3B-_/N6^2.3^4<9X-RZKR3&<)PK.:O$N:\CXX8I<KM94??%)V)45"Y,<D.
M-S!/0E/HC=6VJ7OFMQ+Q%=/`4$_[7%BIR:TSK#?'O(LBIU8OXWX[E45_/J&I
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M4@>JA*OB4DA6VQ&G@5F3?5[;K41,2HQGCBJM<GS"YA2Y33ZE6N19`ZQ$1&FR
M9#;+*$2'A\FV'WUHCMIV*UK4%#X0=1[V_P`C;$[>KL.9K5BFNH,6UHV<C:<:
MI;>C3)N*:='6CYJ/Z4-3\B*ETAUOZM<0WZ3HW+;CP6MO9*DZI,K35;2]Q^WJ
M-*1?L%51RD9!0T]LI@!BTJH<Z/%?^!$?YEA+H+C##B&7%A1W]G;JQQ,JD8JN
MB2*[([924JK>]"R715%DQ&K)M=#*$+<4N.^PE#+:EDDN(=3^,'J[[[;^_;5]
M:RDX5J>>RNT\]8);1*/\88^AL)A)E4S+8[A]0V$J"RUV]?445/.H2$`;[D$#
MWC6'DE!+Z;RK.O*U[?R.4_B&453#CU'EYLF=DJ3!MEHV>'>DJ9=N(S+9;2M/
M0J5][WZTN94HQJMI&O8&9R.VMOIX'%N9$-#`>S'%V*B4E/RD&QC#YFO;$G\6
MTV)->R\5$N*W0I:>X*]X]NHSSI5U1BQBY./M35/3@#`LX)];$LU%FRM#;<C'
M[J0AR&B2E/<E,24[(;F,E201U;6-C[-:3SFDM2=/.NVHQZCV\101>2L@A(3`
ML./;LSTK0%KJY-2_6J;42%O,OS)E9(>5L-^WT]AJUPZY-.#++$[KLU+W>0[J
M>H1H.'WT&45NQE6%I&C-U;`=Z,(D_*6,YUSU/PPI/:`4^_?4K*Q.C)7/#T]1
MSS\]W+L9>%!3XM1O5D1T37$V-W8)6S92VG6W7)K_`*B7VW5[`!EF,@)2A/MZ
M==08Y2R'TV]%]A*Q<IO5';L,BJH+TA4V="C_``K5L_-8;?<F[@*83'(+FW3H
M??K9XG*Z4.L.]JWF2L)[/(2EAR;B<<*BOSV4.JZ(26YJU`[=0I;4-;9()]Q(
MT6-X%=WO+Z\:UT.='HL!R2/:3#%K[B/:OM3[%PM_,-/RVH;<5EE^,^$2"(H1
MN`D#XM3??M)22IQJ55WZ*^G<N":G!W)*OQ+:UY\=3.SQKB2%1RFBJ$^BI"6^
MV`RD!A$E4UN.$;D!M$YQ3HZ?AJUF/=7&<;;H]2BO_P#BGMUR/-#E:3K6OV>F
MIPJ+AO%\<=L9U@Y]>2YS[2NU^OB_,,1XRWU14I:982D"(E\]I'7H-2OG?>Y4
MM>.XTPO_``WVN3ZU^46EQ:_(W6J;C2OGM-/Q,88MX*&X]:[+EPXLI<=I"RF2
MLR4D&2GN.Y/M'37&[D7G16WY\?+R+=?27T[VJD+4H.\E2B:]NW:=&LPO!ODY
ME?7P*]ZKLY"IMLN-+C2(T^86VFU!<@'M0\[Z0*`D#MV('34=W,ROB6>+V_ME
M$J1V^O[Q0V>%X_D$:'&GU4:5'@RA+B-3"Q*?C%O8-(:*2A349``&WL5[]/G<
MC&UN.E3?N79NWWK25F*:-9G"L7KDL1TQH2$MO(G-%N&T51K9A+;:+-"0L%M\
MM("=@"G;?6_S4KWO)IKS(':^T87;<A7:4=?M]HJ8TEMIM;2$H0$NK*"EMY27
M?4/<I;CA:80RHJ/LV5]_4.5MW95HSW<^^8W-&+::Y:>FITVU.+*04M)W`)[7
M`Y[=_P!<CIO]SW:Q\LO$NL3)Q<C73T]9G([3MTZ;>SV>S?4.Y'EFT<[W+U7R
M_#4IK0Y%?IZD?00=E#[H('10]VCS\67NV_B]/$P<YZN;?:]);\@?`ZE"D.%M
M2'73L9@#78DV`25#UO;\6Y&N?4R5+G5>FE]AML+$U3+:8J&2F.(R74[L-!"G
M4NH*>Q2@K<-I42>T?K?AZ)&VNC[C<;JWK^03-AN)Z+BG$/NCO+;CB22KYA]+
M?I+=EJ6I2I"5H"=F_A0@I!&N<\V[*/+#=L\/(5;+7($9Q;[I,A+[I<*76Y4A
M'I>HUZ6R6P[Z;B6MRI`6"$E1V]VN7S>5IMJOQ,&J[3LO-^@X\MR*I#[2XSB`
MMMYF0EU#C<A84EU\J0^M*BI1[DD=!V@Z+/N6G^HZ/<!/X+QO@W&&.Q</X[QF
MIPW%8+LE^'C]'&$6MCR)C[DF9(0WNI:I$MYSN=6I2BI0WUWC?^8WU8%HA`0-
M@=^N_P#Y/_)K=Q<=&"_6`:,K_6\S_2W_`/<[&@(@_9^_W*W&'^SN3/[9&4Z`
M\P_^%B:`]1]9_=WY_P#]T[C3^V[ROH"6NM[<>>:B]C,-2DJ1^)G)L[$U\.3,
M6XTRS#9<E/.N^GV)8CI]9\DNN-MI)90H`D@`D'7B/J3/>!/D?P_:3,?&R*\T
MDA'8%<UEC7S[.))9EJMY[DN,MA]$U;;4I)<@QILB/W)0Z6NH2/:=>:[+]1=K
MAF=2_)TY7]OJ)V98R(V%%H7BIT;U?30^P$K(;]5PJ2B,ZEI;CB'CL`5*4G9(
MZ>W7T7"^H>TW:=*>OIX%.\7.KHE2G#^)<PZ'TMO)=2I+K7J);2VXA3?Q*00M
M:P`ON[=Q[-6SR5DJL:<J,NW<@OU%J(3D7B7C;EVA<Q?E#"\?SW&G9,68YC^5
MUL6\I%3(3[4J'-54V+<BN5/A2&4N1Y!:,B*X.]E;:P%:U-1!_FP>.S%-28Y_
M`MQR_28[76-925TS%ZR8U7P;F;"L+F.PJ2RX\$7$^KC/2P5$276$+<[E#<P+
MV1>MW^2-.2G`$-_*[P+\5.57,1LN0[2IXEPS"K5NQL(%=88EA=%9&;E#'(ES
M)G6EQ`;<9.46V+QXCR8LJ.4(9^$H&^I=F5RXJR0)S0H?&')];BV7UR<-S2-2
MS38X-D59,H\[AT\]=<_52IU)?1%V,1ZV?C/N,2E-O.>FE.Y)VVUO!=.3E':P
M(2Q\2_&"\;FQ[O@3C&Q;MXEQ$F,N8E1R8B8F17:\HNH3"4P$1I<6;DLAZ=ZC
MS;KA>>6H*"5=HCY&):RFG=K5<&!K?('P/\?>=.)W>,YF%IQ"MF6W$]TQ.XVB
M0L>F6$?@BZEY!QGC%S&890E[%Z2=,>;^5+90IEY0.YV.H.=&6.^6*T`KN(>"
M^`LEI>-\DD\)\7MY-PY,MJ/&9;.%4K3V%7]1<%VX7C#_`,L9%-$M9KS,ST&5
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MDO`\EXM=Y$@/IH(TY^X<SA.<N%%KC.95DQ5=FK&2-MI!A9#36L5;8A%:/526
M@TE*%#>ER,NS;UBR?9P;,O>?,VO$X]+C=OS+DU-GV3P;.+QW7UDX8#A=Q7I8
M7;+D-K@G-LMJ7@^S+?98[EPF7`E4=AP'JK90Z0Z-_$5^OO.I=8WRN/%6I-\R
M]--#7R+BSE7$ZNUJN-.0JRBP9%=,DM4>08U,R)]]$JKG?,5S5T)H?AU*Y"2M
MIHMDM!7:%$`:\KW"[=A)JU3E\47MB_@S4>9-RJ]CV?X*AR./ZWRKE81B3<#*
MN%&4LT%.[Z<NBS&3.,%,9`<:>/J1XZIB4#8J1\.^L8N5#2NKWD#(G8G.7-HJ
MBX7?>43"I,1?&_&UPE`2'KA.66T9F0T.C:X\8U+KC"BCJ4]RRGV;G5]:R[?)
M7:B%\MA\W/KS+6E=XEX7.W*=-G.$8'G_``Q(I%YOD1QR#>XSF=+?ME;<&;9R
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M+FL9"I;T?J^U%*UJ2"$A7L_I[N^<Z=7D]G\3E'Z=[=;=(N[_`-7\!YO'/(YW
M(6#7]_:6C$S-,,SO.N-(N5T\MQ.*YT]AKL!+.3XY5N6<^,:BQ3*6$N*D[>LP
MZ@=$@GV&9GSO146ERN/#7VD/-[/",TK'-2F]UU'PIEY=E$:8(/(&+6,2).F0
M;*RH&H<FS@/0.UV7637ZVRFLPK(1W4?`L!:>X$IZC53:C"S-S@G7QU7L.,,#
M)M:10NZS!,>C^A/EPU6LQTM3$2K8B3(`*`&>[N0@!00.O3VZMEE3N1YFE7R)
M=CZ>Q+D_G+[N?,RVTE1>I4_$4_U4UV=B8G<CJ6U!0'8"2K9L)[4H`)Z`#IK/
M7EN2)=[L.#>CRSZE/]7\!/6.'QT+:EU*7ZFU;67434ME3:G%]5%U("4.[D^_
MVZQ<OSNKEE2G@4&!]*84;KD[N4J-T_5?'R$Q)@\B0'6_G+O&6V5^M)7);9D=
MT>(V@K2H][B6_7W&XW(3O[=0K>)9G?C*7-7FXDW-NP[:NE&<W9IKS2;=/,PU
MV;S&<8D7&23Z[YA*Y,!F?![TQ[!ET%$4.L`+DHF.$C<("FB?U^W75Q>L6;;I
M%[M_^!"M=SMY5ODL3N=-Z?%^)GQ+$(DVBIQ>UT";/>CR),J;)9#RW&WGBME#
M)?CE;?0CVJ]FJ^61.RV[?*WXJI&E]+8ER:S%/)>578[C<=?"AWY/&N/N@"&N
M;3`*"]J67\DGN&_Q%M3+[6YW]O;K3^Y9/"'L_B=K?9+UIUBYU\S$]QS!<;0A
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ME!W&WQE7\"(&K579*WTZ+E:`:C]*'`!K*A&.J0#6U$`U'OXMK(IU*Z<'0!KI
M:LPL_!7U@-=Y2<WS/:`UJ#1E?ZWF?Z6__N=C0$0?L_?[E;C#_9W)G]LC*=`>
M8?\`PL30'J/K/[N_/_\`NG<:?VW>5]`2S4=DJ.^VR2=_HZ'K^AKK8:5Z+>RI
MO:FK=Q3>Q,;7E.NE6^`9;4U9CR;&SQZS@PV7T)=:7*DQEM,E3>Q2OL6KN`(*
M=P-P1N-?,/KW'GER<;>],]#BY]ALB9"X;Y+6W"L:-*<<@R9L>)7TU9D::J+"
M=KZB!!A9;*=KOEXEP^IY+^\4(#2._=224C;Y%C?2?<[]RMMNJ3?IJ2.X=SL=
M",4E7GC]HE<LXJY;H8EZ]$ML@N(5M7VA8KH5Q>.S'<S2_9-TMBF0N8I+<5*G
M8[A:;"6U>F`4D%0,CM>-W/`[@K=UR:YB^L?*W,+F3BKB2;\OX[*GT6IT3&*Z
M-$GID)D1HT)"_77ZB5N"*D.K0X=R2%#90W]HU^BNT*?RD93K5I'S[*O6[M^2
MAL3.GJU(Q:4)4=R-S].Y'^,=<G8ZEWF8(?>56`9IES_%&48CC$3D.NXCSJ1F
M65<8SI$&-&S^AL<'R_&I]*R;AU==-N*E5NQ80F'VE15O)'>E1WU96K:C+DV-
M_P`/L%/:7>+W'658)6<B7%[BK/'D/E/-XN98]Q?52:V4.**UZCJ:62Q)54-M
M4C,Z\GQ5SIC<-#<=HOJ0E*4@C46XJ3:VZ@EVPDI98]2.Q'=0RVE3#`266%!"
M0IIK8`%MLC9/W!K$/C7F@:;OXI8?:90](;^)KO'<XI:=RAM+BMU("U`#I].N
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M(W["V$C;IK:Y*6+_`+3;R_CZ<2OR[5Z>6W"O+1#17/!N`7%O.N)D*^5,GK4Y
M*4QE^616'2XVM"D_*1;=J*EL(=4`D("0#L!TU#N6>M[S1/QL?(T>I:CQ_P"-
M`W$1\IE*41&"Q'8;S[-FX[+*T]I:;CHO$M):`]B=MD^[42QV:ZYMK97TWFTK
MLXR<7N9C_-WXI"4(%/?A+?<I*49MF0/<H'<D?7?XQ9WZ;[]=75KLUU1UV^GB
M85Z39&"IX<P//O(;)(J8E\[BG$%%!J%P&\GOY*I>?YTU'G/2)$HV2]I%+CE$
M@NN)4%LO/%([2KKI?[+=Y23782-F<`<;HB2C$KL@$M<=YF,7,URUUOUY"#':
M]5M^X<96R5NCOW!^#?;KMKS>?VVYC0=Z5>5?BZ&MSX!IX>8VK/#ZKJ5D0X[X
M^P2NDQLIR^?%??LFUT<B7!MET<QQTQ1CBD-I0R^M#T@.GHE9V&M<"TK]%32I
M#$3BO+6>PG7;+B?P]RRXQF:WVJRG-LKP3CK),E]-4A8R%BJRI].3S*ZYAJ0]
M'7):9;?*4E"`#KU$.R6[T=BJO3B*B8Y!SKD;E>K5C6<>$>/\BP53[.?`C6'-
MO$5H[&LJVP2[$9I)@M7K.$66`09,4!4.6LIW3N!K$\?Y'8J4#==IT..K+RIK
M,/J48#POPM%QFIH_J^NJ;'F.;0O0*:%.<0FK>9H<-;JZZZ@J6F.9`<5%0AA2
M`DEPG6(9KNJM=AM&=N.DAV_'?C;,>(U\G99RG:XJU?\`,?)3>8SJG&';"+C6
M-JL*BMA*K(\BQ83'L'I0JB$2&4H3+D%*4I^(@Y^9\3+NV=R1*UR4&DM.*0XI
MJ9(@QXZHRGWE?,37RH15-N1%+8?4S["=F4#IT(U)AE3Y5RO0TDU)UCL-EMX]
MQ5ZTE:0764M,177&D/)=6VD.N;(4E2>W8]`#[?9K;YNX8TV'00A26BRM3FZA
MNXE3CAV61NL#N42@!6_0'8:N5JDSO#&Y(<T?,:3E>W>8HD--H);O)$&J>BD#
MN<;7'=<D-]R@5(0M"?BV/LUM#W77Q/E/U9>G<E/'MZ3FJ+S-3`\?KC0TEO-B
MLR;*73UB4^M):>3%B*^8'IL1>WT66@AI([4)&^VLY&4_L+3Z*^ELIV5.]5NG
MIO'>C(`0IO=SL4`"@N.=G:GM[0@;[(2"/8-M4ZON=VA[1NWB9G0ELHS-\LU^
MP/\`]<<_KM=:DOYBQX%R64()*4[;].JUJ_T1.E1\Q8\`6TA>W<G?;?;9:D^W
M;]B1O[-*CYBQX%$,H;4%(4X@CIVI>=[3_FD]W:3^AKI&ZX*ATC"%^'/#8:L^
M.A^,\W)99>@NH4B0E82OJ0H)6I!!W[2>AUM\Q)E5E8JW#75LI[%[N/C]D77J
M6R<4BAMF2E/JSEI5(^H!N`VS+2DE86OX"WL!UUS;<GS/>5,;KM77'6BT'886
M'6F'6UI<9],=RD]W:O;H3NK=2=MOI]NM2YQ\EN)G.Q)(]A]GWM"4&@#0!H`T
M`:`-`&@#0&C*_P!;S/\`2W_]SL:`B#]G[_<K<8?[.Y,_MD93H#S#_P"%B:`]
M1]9_=WY__P!T[C3^V[ROH"6:T]Z%I`"NY*D]I]BMP1L?N'7*]*4+4I0=)):,
MY7VU9DUMH(G(H[>U7'6D-NO3$#TTGM"_2/K)!Z[D)4V#M](UX;-G*]D+JOFU
MWECV^W"5MN44W04C#*PE$P,H=^:2EH(*$E`2-PX4)'PI(!/L`U[+L^%B=%SZ
M<>;E>M"NNMSR%;FZPHW1[*K8_41G\P_)[`/#'@G/?)/DZLR2QP/C>O@R;YK"
MZR-;Y8Y]93XM16,T5;+F06)4H64IG=/?OZ8/0[:K+W:^W2S5*5BVY<:$R.3?
MC'DC.2BU3;NX$+/%S[8G@7RIY(LN(HV`^0?CIG<+"K#E>@H_*'B@\9#,,%I5
M(=R:ZQN2SE#L*RJ<7;D-FQ<4IM+*'6UGN!VUZFWCVK=F*C%*%-G#R,6+<&I2
MHN8GUQ[Y-\%<M4&09/Q9S;QER'08Q*<C9-9X-E^-9/6XU(:CO2G$W=VU)$:C
M8<8;4L+F(0TA""`HJVTZ:;>A'R7RO315%)Q/S?QGS;56%OQ9R/@W(-966;5)
M,N,!RBDS2IJK-?JDP+.1"^7?9FO?+*2A*V]PK?8D;'7&XG&>FAK:;E"KU8ZS
M*6I*6)RF>U;K8<:"W'%K9:6Z'D-_$4]I0M(.VW0]/9K'4GQ>J.E69U,-K2E*
MFTE*4OI2#[DR01(3[=R'@?BWWWUHY5=7M'.EP,G80`/8`.@W&VWN_0TYJ:\#
M*FFZ:'.EO_+Q^Y"$*DQPL#N`(4^L'T"YN4@@.$;[D#;67E6LBS)7TI+Q)3QI
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M["WD*S>TK'W&H689=&>[Y6&U=BHH5,@4[D8&:`"PX74`$]IUP;==#TRO83QW
M+*BKEZE%5)T\1U>1N,<6Y%P:TXXG!N#4V-1(B0DPV41)6/V#_H/T-I36+24^
MC:TEM$1(8<0>Y"FB1J[P\E6XZL\U'*G"]15Z5=VP;CQ>Y5O>1N.H<')Q&1R%
MA-_>8!RG$4\_&DPLQQF9(CK?8;'<I4;,JAE%M"<]CK<CO'34?)M6+MYSY4]A
M/E)SEU(M["449Q3K#3JBTI+J?58+:U.!45PE412UKV4MXQBGO/O7OKDK5M;(
MHW5R^MDI4\S8U&ZMR$FH2:53BU5MO:(^_P`A-$)EH2V]#@UUU:2FR\_VM?(1
M@J.RE*4@#O>``'TJUO')R*I.<J>86CT&0\7<4>IN*H-[:PG*_*>0;_(,[RV!
M9!7UK"M,IM9E@S5R'%'U5-P(D9M"$J/PH;`'3IJ>[UZ2HY2:7B;UN;Y2J2)?
M5V-%>P4&ULNJ'M'8T\VXX2/H2VDG5!]12E_:KDJNM8_>COC1E.ZHSJTT]NSP
M/F]R_C:U^(7D'41;);K?&O(.:7+3CY4^VMG&\\CY-(@>@O=M3*Z^4&NP@I[>
MFVJ'L;E559VOV[<8^[%(^@N-IK+2FI+6+%8;9NZBHFL0W82P8:[>+%L"M"D@
MAE"(SR.TJW2CM2!L.FOHMG]M25:TW?C]Q`WT/A-EW@URYP[F/FKR%Q%"RVZL
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M'5CERA;;5O<MQ],/`:K\DX7$F4*\E8N6UF76O)EJ<=K\LL*6[R=O`DUM%74Z
M[4U5O;TK,5,R%)4'6I3KJO4*R$K44)JK[LQ?NI$ZU"?+66TG5ZWHQ8[RM_30
M$KL?2FE;<1D@$%E2OC+8'L)ZD:Z6<N;=')M';%Z^36VI.M6B(?)G*J+K.ZK!
ML-6G/+6GC3I^0P<<9+YQ:Q<6U$BIR:Z6$UM!#:9?):4A4J>M1[0E(.^K7K+H
MRI\5/P/*=S^F<BYGVLJ5>E&:;\56O`W^+<GY0B\KR,`S>7AYI'>/V\CQJCQ^
MOL7+#'X%1D36-OHM;^8_VW3E@]+[BD`F,H]1JDY\A[92/5VKMW'CR6).$."T
M)A,I2&MP!ON.OZ"=;68/J<SKL.%R$+MSK74I7>+VEVIACI6_Z4&@Z5O^E!H.
ME;_I0:PTGM.L'.W&D&U#@BTMH5WA24J#B0%@]>Y(WV!'T#<ZQRQX&W6M)_J)
M-B6RS'8M]2S*MQ*XZK%#<=$IHE*(:8:A)9D%0.[:U.CL*ALK;IJ1A)3N.,]8
MI[#SG<IV8W'*VDD^!S,*O)UC1O,6JDM6T2R56R6VCVMJ8CJ+/S"![-EI2#O]
MW7;N4(VE^FE'R)O9[ENY^XN9^(OM@.@.X'0'Z0.@/Z.H2V%H]N@:R8#0!H`T
M`:`-`&@#0&C*_P!;S/\`2W_]SL:`B#]G[_<K<8?[.Y,_MD93H#S#_P"%B:`]
M1]9_=WY__P!T[C3^V[ROH"6P&Y`]F_3Z/;KCD?L2\CE?UM27@(6Q5Z^5TD91
M*AW6-D-SW`"/5QF]NOL'>X3]&_W=>&R=<A%IV]TM.O!"V6>T,A)[0/8$]`-_
M;L!T&^O>=FI\L_\`254O^6O]+/F']LOQ#R?SU]G1Y$\0\,XS=9?R3F]1CE=C
MF/XX[#9O)?HY34S+1^J^<?C-JG0*EAY]OM5W)6V%;$`ZA7?^6J'9'QP'V>/E
M_P"/_)G.2TO<P>=.5<C^%N4XAXN<X<WY!`NVN";R:W52,]\?>0<><DL5KU;R
M-*9;D0;&.R^EY4-,=:FT]Q5Z&-.E'R)6/\$JD4.'?LY_-?*../.NFP?A'F'A
MF]Y^\9O'55<]R7.XTQ-SEG/^.,[<L>7N,WJ?BBWC4&#4.>8S"<K(O:REAF'L
M93C;[B=\5TU(696I]@?LT_'S/J_R[YD\E:SQBL_!O@?)O'+BCARJX"NG<7J+
M/*N6<2FQIM]R:[AN*7=]4,M8Y5QTU-;/4M,RR1,0\Z.N^HE[XS6Q^VO,^_#0
M^#<("`LE:!NKU"A?Q)5)2K\"4H'=Q(Z)5N!KD=3+MO\`3_B_1T*B]D\MV4>#
M./,EQ(:B5.,16.[=YU^2LJ*R=U;)*OA!/N&L[=.)S^<Y5S<!E\IS?%9%A%IY
M-^N15OHL+2:Q5JN+!2GFKQ:&&GG,?BR?[&*AV*0XM*?3W!V&K6SV92L2E'7_
M``3XD5_4<TZ5]/8)#+KN%\UQQ,QFGG5,.BS2NBL39,1571&!D52_C=FXVRM1
M5)$=^2A:0H$]R0KVC?7A\_M*Q^Z0O+^5U_`ZV.\SSKT<1/X]/L)`T5!7U[BE
M(CQ7'MDHL)Y)=D2K@D/^B%+W6IEIH%:03VI(W'4:O<.G/4YW.RN[D5=?1^8H
MI2TA"OC#7:M*U++R(R"5[I'>ZM)[4K7MOM\1]QU,SU3'3XR/13[?'MN+"Y#6
M3E1^LC5F.277*5Y(XXXZN6ZT52T,\HYS%8>^KVH;2P9&+UMGN"Y.FQMVWU(/
M<VSW$'<:IB?''3Q^J]H[E?34V*U$3'J%FN@UT=EI=/6-OMQ(RDK;6RR)+C82
M]*@1W.Z5\P2775-E*R==H04HU>YE59<\G(Y/Y4R$N/\`GYP=;6EC66C][60*
M^\Y3K;NPNZQV$N$OBZXAU,J59,!11\AGUA:J12M10'5!&^_Q:K<G*Z-:/8>R
M?TQ<^7ZRC_+]K]>[;XF+/?(/Q_\`'*EG>637Y36U%RY)PW%)-7CE%)G"1E57
M>M8K3W5G4LD&EL*"';-Q)+CVZ_1;2DGM&VK+M]UWL6-QNK=2M_M[MKIR5)(^
MC$!]N1#CO-!7IK;'9W!'<0GX=REL!".[;?M'X/L]VIK1E8ZIK2IN[$G8`[]#
MM[^OW-5LOB?F5%Q4N27!C8Y_):E.X]CJ5!(R2W2\Z02`Y18X47MDV]VD%27R
MUZ:TGHI)"3N.FD:\R\Q#6:7%D<<,',>6.Y=R%A?(S$6.YF=_7X_AF8UPGXQ(
MI\7L'*MU,%=<V;6*^\DE*'5%90I6^QZZLTFU4M)8\8M1>UCA-<V7V.R&*WE?
M!+O'79+[4<9#11V,BQ1\NK2VE<IZI4[/J8RU*`[IR&AN0#U.J+ZB3_M%W_T_
M>=K6.HR4EK0COR*MI?B=YM/,/"0Y*R+DB4IQJ.\T$M2(=(4E)4=@71^%^R]^
MJ#L.M.)%RMO@3ZP0[X-B!WW)P_%`3[R/J=A)!^YVI`^\!KZ1CKW57@RMWG?<
MAM/JC-J:9],2`D$MH[FE&)+::+1*=V]DK4GX=OA41[#J@[I6C&X:7B.2+'#6
M528L=MV#?956H;2PTE#3%?E%LW&#20CM;0A`':$[`;#;5/B/4E6?AH^(ZZ&6
M'0EUUEEQQ$DR&W'&FUN(DE!1Z[:U)*DR"A9'>#W$$C?KKT=C9ZSM]QH38\1*
MVT^C#3)0I'RC:@$)(0VIIQ2FP`@*::4I()&X22/9K&3=E%N*(4K*E?;&>SGF
MW$<0F?D[4IF9CEC3R/6Q;&H[<NQCASM%>Y9K<24-UK<H_$YOWI_0U0Y%^?-I
M4M+&-&2IP]&(3\@.4>1D!_DW(_R/JI"W/K#CS`)5I!3.AD*<:1:Y2]'1;RWD
MMD=\:`@H;5\*5$;'6N-=GS:U,XL88E9:.5739M'QQ+",2PJ"BDQO'JVBK(#Q
M?KHZ(3D!EZ=*'XR:Y/D=TR3.<4>JU'O6?:=>@QKDIM1V)O>5/<>]UOQQ^6LI
M46S3[MPTV6-U=%Y`\36K+;:&<DK<YPWM2TE`:G.JQO+.U("0E"7'H+BMA[5;
MGV[ZM59AL:53%.!)T'W>[Z-:7;<8PK%:F`U$`:`-`!]W^+IOH=E']+F\3EVT
M^+5QE6$UXQX,8%4UTD_"A75OM^C;WZRE77^4\AW++E:GO4:C>2N2\5<;5&79
MJF,?_*S<225RW7/C8:#J.U)24*2#[M=\!?K2IQ*3(S)7+*FWI0Z."PN]5G<.
MQU179\AR5&@N!0^7;=)*&E)45;%(^_KOW3X*/;H6_8[\JU2=&.-U]XV/O'LV
M/OZ:@+8>M#0!H`T`:`-`&@#0!H#1E?ZWF?Z6_P#[G8T!$'[/W^Y6XP_V=R9_
M;(RG0'F'_P`+$T!ZCZS^[OS_`/[IW&G]MWE?0$M"KL!64E02.[M`W*MNNP`Z
MDG4+N4N7!NRX09K*3C%R6U"%BE(R>P25)<;CU\.(T$*"O3<DV4B5V+V)[%>D
M0=CUV(.OFEMQOY%&Z:EO@Y<^FM--:_<*Z.M"ECL4E6Z"Y\*@K\7\0*^GZS=)
MZ^SH=?4.W]NQH8:G55\RLR,F=W)<)<#=WV*2#L5`K0=]BI(Z%2#[2.OM&N\K
MT<?2+3-2NYVZ>SI[_>-8CEO)JFOA!0J^D^W?VGZ?;K8%"X@`J6M/P`%2E*&R
M1[`23^".FIEGX#G/+5E\C:-*2^PUNXZ\VV@-APK<<2A`;_\`2%2M@$?=]FNM
M#7^XQXK[!#WF06KX768['1+D$^LBY:<"(,)K8'T'U[]DM[8>Q))(/LTHRAOV
M>K=E.E>:5:G*KN/(EA-8O\FDO7EO)0$!2FUL544$!78Y!6`XKL/3?;8C1UH<
MEB5=*;3O,XQ#B9!&D5L6/7P8<:T9EPFZ]A$>4Z^\CT765[?$I7M&W76,5_IE
MMC]BCS5IH)7FB)$E\:Y,^&5M,PJZ7;LL1@XMV394I3(9]9+*5N(02WN2!N->
M3[W^ZWN+NSVB-I<R^*/XB[K[RLD5,6T>>8CMVE?46*9#LYV,TI=Y7-2W`V\Z
M4H[RA((&^Y!'TZM.SJMC4[*PVZ*HS',N7R++C2;:<62!?.RYC=)<WU#:MV]S
MC%3%E-P\EOZ:N0ZN-:6^+5\I<Q,9>YW:[@"XE`/.^WUF=(8TM4Q3\,U>/46"
M8M286_$L<3BT;*:VV9E+F)LE077D2[62RXI4PS[MR0J9)>?`?]9:D.@*`&N7
M@0LBRZ<$QU):HP,-UY`<[M_E7(B5MK+RBA;3:]@08;WIGN4=D@@?3KG.UST?
M`K+%UX>=!OX7^9\S[3[.OBA_*)V0P,GS.DMU-94]63H;S;C;=GD66P<V5=&N
M=@R&YUC09#Z;45#Q#*FG%D`]JB-/E([3["_K2G;HV::TIZ??X"DS/Q#XSQK@
M+EK`\ZY`Y"9XMD0D9]E[\R95)DT;^%WR^2LPRFNC0*Y49B'D\JM5)GQF@0M3
MI`]A&H]FUT,YSUIH>-OYDLS_`'#27-6OW;>-2=]);5\ZBJ;6K6^_465=73J^
M8[-=:^9B645N7!=4A*&DL.2F%A0:*4J1U21N#KT5Z:R+2A'5^!17JU$!G7,?
M'&#;1\DRF!&L)*RJ'CC*[:SMI<N(HJ0J.:!$JU#SA'1IY`8^CIK2,7&"B]J1
M)AVSGBI/>J[1I,<R^TS"US'EZZQ/)L'QK",$M6\0L<L9$"PNIETR]992]8XJ
ME*`Q!**:`E#SR4+[0"2"=;.3BG/AJ=K';$K\%O<E]_$3W!W/G"N+8KC/&=SR
M+10<KQ*"VW?19K[D14>ZEX^SGUW$LYS_`*;:(48Y3NWW*`=)2!N2-XTN\JNJ
M52R[KV/YU]2"ERO\&U3\1T\I\C.&L#LL*K,LY+H<?<Y"8%[@TB8Z[)_*>CKJ
M)-E9R2GJB+Z$='<A1V"D*!&^XURO=T61:E9I\47^9#Q.W2Q(OPJN#K^5-Y&3
M.I-7-X"\A<CQ6X%]76=1R;D&+_DY#G&NN8&18_B]I(:M88;4)$RO?L'%(VZH
M6W[.AUYKZ17_`/LR\W^!PRMY]`^-Y,&;@&$2H,V#-C2<1QN5&D05MNL2&9%)
M`"GF7FE+:=:]9E2.Y)([DD>T$:]O?=>YSW?XD?&AS\R6WE%=**4(+BR$I"5M
MK4H@(;9=04N.K4=@A#8VW4>@]^M>[?\`#94QQY?->L:3C5V,C'[+UD-DL97F
M#+BE*"5,-M9)8I0L@D%*'$K!!/0Z\9VC]]_ZST$\63C&7@)CD'ERFH7W*3&(
M]QR+EOHI$+!,05$E3UR7O40'+R:XI4''ZQHA"G)$E33C:1NT2KIKZ%<B^ES4
M6S\SE.73V[2$_/7\/E;><!W&?<@M8OQ[F'+M'@&=\>X:U,B08>,990Y*I+UE
MGEF\[:V5@Q-@-Q^Z*AI+RU`%:B=S02O*,V6?8I6[MV['1Z57J1/ZAH,(X\QJ
M9+JZ.+C%'"K9LZQENPUL2H42F#TNRFVKZ'YDZ;/^31W+*W%K/OV]@UZT>:FA
MYFWASN=^<TJZ[ME6Q(87Y/<(<@1UO8=R;C%DPJBI,K9<BV33<9R@R:S^JJ63
M+=LHB&HZ9K(2E)4K93FZ1N1J9=S8SARU5:?86F5](=_Q?UE:NT<G_*Z<:_#L
MIL>]G1Y/Y]XQXDCQY_(=Z:>BM)$!BOOW(-I/I6G[!Y,>!'>72L2&82YSQ[6E
MK*0H]1[-5"2ED)\)(\_>GWO&N=&]"2M-T;:>S_I$GSD8ZOX`\DC.*7#J><<(
ML&)C+KX!K\L;N<;=3+%@&WPU\ODI)/MVU=H]-VQ?IUW4)3(5&*6@V@A>QVZ$
M;;;I)Z_=21O](VUBI69/_)]1GT-`T`:`/HU#O_'ZCLI4M<OB<.YJ6+EEZ%*W
M<BN-I#C;+[C#[:QOV.D.;1GT`_K?;TZZM<5TMT\3R?<<)WIZUY6QJ_0L,<FP
MZ^^M&[&FMI*:ZMM41&X+E?;)67(:)S:0&WV%1PEL*3T5M].K.;_25-J1YS%P
MY6<IIZ:CT1E=\9GN4PI8;2%F,GL8*AT):;]J$'W`^S5->TDSZAVJ["W:Y=*&
MT4G;J%`?201^ETUS.F1D)JKVEI(`*E$!`&Y).P``ZDD]!TUE*NBWE-\U&W>3
M>Q.I57P@E7P@$`E70`JZI!)`ZD>S6>B^!-^<C>=$RFXV2=QLO?L._1>W4]I]
MBMON:=-QUH9I_,&L`-`&@#0!H#1E?ZWF?Z6__N=C0$0?L_?[E;C#_9W)G]LC
M*=`>8?\`PL30'J/K/[N_/_\`NG<:?VW>5]`2PD%(8?*T]Z`RZ5)[_3[DA"MT
M]^X[-Q[]^FJ[N\[=OMEZY=?+;4&V^".EFVKMQ6WHFR&DCE-VGY`Y!=CXZXNH
MI,GQNIRZ0A]3Q6ZFF:=;GT[2U(!CPPV$/)Z**NH"AUU\![CWVW8OJ>)-3H]U
M?X'NNW]FQKF-R0:YW%T\WLW'8J_)7"_2J8<J%D-C]9I!HS5T9,>WG6D9^RB8
MTVYZJ9"YXK9;<E([0@I6-SON-67;/K_*;6/>G2"7C_[BN[I],9N/'YBU:DXZ
M*JI3\"0V!Y?1YMBU1DE"F1'K+1EUZ/%LHJHU@WZ+ZXSH`<45^DV\TI*MN@4-
M?4>P]SL]SIS33KMV_P`3S%S'O6GR3BU-[A7>JWW)1WCN62$CK\1'MV]W3[NO
M8WK%C&4>31R^TV^4R:<W(^4N]9ELJ2X`HI]O5/0_L1N1NL[=`-R=:QMSE\*K
M4A7K]G'_`'I*-.(A<CS>BIWV0PN9*M%[-)K:9M$B=))4KMCOMJ[DQ4I4=SWA
M)&^I,5TER7=)<&>2[AW&S=RV\::E&B6APF*?)LA=-CD;=A30.XQTT4:<Q<KG
M0WQW'YT-I;#'9[%)!W3[/=K;J6UI5&;6/W"]K;MS:?IQ%W7TD"J:8@P(:8\&
M(V%H9;W"%J!*TH0%J4LD[]=S[=.K;XGH[6/*-J,;B:N):^9W@KO`44>F5`*]
M,[;H)&_8?NI]FL.["E:G56-=$ZG"D-)<>0ZE`0M]*PFV9E]LM2=CWAN$?@:4
ME(/:LC8$;ZCXV=BPBU.Y!*FPF0R;]ATNIQIN9"6%D7+G.(Y#Q_!HN(X#CE3>
MWN%W1RB,[<9<Y-BMM(D34UM4H8RF9/:EMK8=ECU3WCH>NWG>ZS63=?0:DO`N
M,;(4E65>5[_3<=#CC@RGS;$L?=S[+\_S]9BN4TBJN;LQ*6`[CLQ_&Y#4"AJ$
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MC#4;\6[34HIE1+&L2]^[**FMB]$)C,N7^.<`;;;SO):JBE2@XJOII\MHS;'T
MD]RE1JJ,7;=]T;;#9L-G;;???7><80?OM(UZ5R;Y(5<?`8NTY9R_DR*["XWX
MHNY^.V/R27LLY.^KL+P),%YUV.J<U2VKKF09&RA0#2X\%+*Y;3A"M]]M5F;*
MS2EEIWN"VDZ,8V;*LSE[ZW;]2-OB-QQE^7<9O\?<F<HY<Y8<099E_%=MBN*R
MK+$(CD&EMZZSQ-;-J\E>7Y920JA^)`B3+`-NR8;"UGX5#>3V=7VW.\J)<?41
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ML4R()Q]R7CY5B;49;LQ;S`ER8;DV*#$@]P;<6$MGX3K#Q(0J[>K2?W%-=SYW
MLI27[3VTV+TWBN\<./T47#>189/<6U6Y%493'=?F2_5OH:N0,=KGD6HK2SVI
MG7#J'9/RZ26XCZ/220GKJI^F[5S%[G*>4G;MN6U^HBY34OAU'*\',B=RWQ-X
M!OW(Z8STKC:DC+AHW]*$FG>G4"%(*T(=1*L14^O+:7LIF0I70=VO;7G%YTK_
M`/VI;'NX_<:X5+<Y.XZ+E_$DW=O1XT5R3)4X&8T:9(4&XIDK_$L>HE;2>Y*%
MR4.A(::5T>4KM]VN'=9P>(U4UM6U=RDK2YFV0'XED\A\VX^W<PKD83Q/DE_D
M>003CMC)1G>4+L;^V*WEV@9<K,?7-983WP74K44*V3VZ\5VO)L0R7"Y.,9<]
M:/>>BR8V,&$87TXW91TKP6PE[A&'85Q[6R&,=Q^#3K?+WSGR<2/#L9Z$[(?<
M?@J<=EJ<#[:O5*G5=S@4H;`@:^B]17;5(NL:?:>*[GEVJODDN8CCYN8W/RCQ
MOSY%-'=-_C5>SG6/23#<;5`FXZ^Q90Y3+?XSL<A,J))W!5\R"![=O%9MV<,J
M4%6J9=_2DVI2E>TC-:-[U3_$=2@LX_+W!35M!=5V<CX0EF+*#K2XWS.04;Z`
M^!7=E@6D2W5>N5$J*01UZ:VM6LN]\,9-<21#,[=VSN4LG+E&-I235=^JV:<-
MA\PJO[-[E7%C7+I,BP";%CX=QG4TE'9B^;Q^?=8Y'MWLQ1=26:5,D8_-DV#3
ME6A2EJ;>;W5L1OJ'CX_<IR;Y)M)^F\^G9O\`Y.[;D6%9A&+BHI)T6NFCVDI8
M_B5RA9XCPQQMG>2XI?89Q-FU;ESD6/\`E"W<9?"QC&5?5U1>B3ZWS49>=3'Y
M+8<^%4-*/9[-7%K])PC>7+.N_:?-NY=\QLV4U:MISN*FQ4KQ6N@_WDG7O'@O
M.9<20S#D8[7JRFGF2B&F*-^EEPIKJY"EC9GT$,J,8G\$)]VK17+?%$7`MW+=
MNEQ->9(RDFHMZR!9L]I9EPX%@AU"D+;+;S+@*$+02E0=4Z'!L3T.LQE&6QZE
M;EVKD;_.T^3B=H*!]AUL<"N@#0!J)?C*O-3W:&RA<<>9)\A<7&@T4J0%J0H=
MQ[D@_'^`-B=SOM[M6>'.,XT@ZLY2GB0UO2C'C7_`9OD^0U^2.1R8T8.*562G
M("FE>J1<U[K)KRIO]TCNONA;2>P=2-]^NK&;:CRR^),\WD7<'YN;M3CRU]-P
MJ\4E27<?JWEQ%15N5D-;L<J4Y\NZIA"G&E.+^+=*R?PMCJLO6YRDZ)EA8RX*
M-(/04\ZWBL,J<?E1H[;#`??<>>::;CM``>I(*UI2RG?V=VV_NUHK<^#J;WLJ
M+C[LAN9/(<&8Y*CX[3VV42XJO1FRJNM":Q*B-BA+TMYI@J).VX"AKI9MR5U<
MRI&I19,KW*W;594-:+D675W]E6.&--QF1^,?KID";/DEP@M/OQ$)"FQ'3\*N
MPD@^SIJRZ=BOQ+T]0P,J=J2^9]R*XBRQO(Z[(6YD^-.6XF.X678"D)2JK=;&
M[J'T#XD%2>@VW!.N&3"/)2WJSU*[EVZ=ND+T'.NS6OW"L!22H!224A!4`I)*
M0X"4;['IN!JME[OQ:':$XW/@=2O_`,6M8SC+2+J=9VYPHYIJH:V-`T`:`T97
M^MYG^EO_`.YV-`1!^S]_N5N,/]G<F?VR,IT!YA_\+$T!ZCZS^[OS_P#[IW&G
M]MWE?0$LG0DMN!00I)0L*2XGN;(*2"%I_7((]H]XU5=[MJ]VG(M2^&5MHRIN
MV^=;41D3PSAN9V<FSO(LYZ6QE-L\^^BTE0TV$B,AD-2KF/%_L>SF0F%>G&(W
M0EL['KKY!;^F;-YTIJ_3B6F#WN]8>UZ>G`R7/CKAUK4QFX]>S77=8W5NT-BZ
M7YL>FL8,5NH3-3#;EPO5?9K(Z.Q06-E'W[;:E/Z)MI=2*I+3TVGHU]39&1;5
MB5'#5O=Y4\N&\=7C_$XW'F)4V,P5N/PJ*')BL.3E-I?:"I<F9*D(*7'TAJ>M
MSU.PN%2-MB-]>W[!VAX*7%'BL[N:^8;WO[/L%18W"(,1R2^AI+?8'-D*2X^L
M*0EP>@T@J<<4I*AT2->^N0^84:;8E1WSOF1C6[/0UC*J?X;A"/#(\M#*8ZW<
M:I'`H/R&2A=Q8[JW2MMMT[5[*$;I4OH^"?@&VNUJ706I10=_N+_4KZ>P4]-B
M%10J+D"$KYA]*6W[+U?6L%$=5/.RI7XZ3W$[%2OQG3;V`:C9-SJW>?P-H]G=
MJ[5*HKD)"$A*6T-A).R4=`KK^Z'?KWN>T_=U'VGJ<&'1@DS&N0V@%2N[8.!H
MD(4=ED#8'8>SK[?9H2):R;,G>@;[G8@D=G7O5MTW2C\)0^]K#5500^->:&]A
M5CJ[6XN;,267)8^KV&VW/4:9K8^[@EM-(40AZ3MV]OX0WZZK/EM=AV[JO>&$
M#3O&WDM+4TPI=-SEC1M9R.Y4&(SG/&["VXD5A6Z!'>LZZW#RG=OQYB``DC;7
M6SBN5Q1IM.UA\N&[CVI?>9\RYYXC\>;B%B>:7,FBD9LWGV:44.7%>?8<8Q2+
M7W&7Q8DT-*45,2K'UF$)/=,0E2F@I*5$5V3:Z%_F>RI9X?:9=QASP6Q*HYU/
MR]@F<5\B'B.0T5S8?5]#9_5S%HH.UXOQ`DUDJZ3$)GP(4IJ<T3LGN6%=OL[M
M>D67&.+%[WH<KN+<P6^1;Z/3S&!:>;Q?*<URGB2=79G#B6#\WFKBUF=%^OZZ
MW>"9!RV#'KP%4]XIAA3EE`[?2N&D,J">Y*M5UY]=Z:E9D7;U=5K04D3B")G+
MILN-^6\CPK!LI*+JVJ..VZZNEW-G*0'9-ICMRY&=L,69E**FI3,-;2&W6B$_
M$%;2NW6>C9FFMK3(5J=R3;N"CE<?\2<&4EUEL?&H*)U5!^>M\JM5G)<SF2FW
MVF`]:9%D,6SN+*TL5O-QT*]5M2E+2A"/><9NL]"VQ:[-QPAF/D#F<=8Q+BR@
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M++D_U)'EK-S'C)/'7Z"T\=F[UBJ\.KAZ'P_-XWDN"IF\(9!E_&UPJY*4F+`H
MK$VV,3X\WN$&.AV@LV4*4I8"%)V5L>FJ_(R[UAM6]"E^H<#KKW=:H>:1Y4\5
M.*<K,-L'^1[52R*ZIXXCLYHJ3NXVVB0_90Q*JX2'/62HEQU`"3O[-6?9LGK-
MDJWV^RK<4Z?"<*?DW/\`FB%)KZ''.)JFP2@A[/I2LPR2O<W*62N@IY=750UN
M*!6WVV'J;))`W&I6?CUG&:U2=3/RN/;7/75:G6J^",:R"`A[E#++SEB<ZPU+
M0F_:^KL)=<=+08E5&#U4AJLFQ''W0E,B=\])4KX2Z5;ZCTT-/FY-[:(?2DM*
MR!'KZL28#D>'&=1$+$?Y6)$^2"6?DHR6$^@@H02A*5=5*0I*=U)(UULUY_4<
M;]Y3BZ;6]3M(R2H?LI-+\TPS;14NNJKWE!J:]&CEE$B;$CK(=E0&'I"6UO(!
M;2Z>S?N!&IA#.NI)1Z>^WXQ'J)V._P`.^VY^@[^[0%N@`^S_`!?=USR/V/63
M[7_%?F<6ZG,5\*=.++$B16P7)K+"OPU.=X;:4X=PD)"S\.^L]K5;O+LJSR?<
M]'7<-K#Q25=V$.[RFU=7'<2IPTK/9#KFDK'J`ID(/J25)>.Y'MW]G35S?TNR
M2XE0K5EKFVR:JSKS,C;B*374K;DRQ5NAEEDK3`8"3VA%HM_M4Z\`/B/0G7,B
M3G>A/].M*F%.'3<C=1+S>3&M2MU$Q=)7QT1J9DM)[&H*NX^K;I(V*OF?Q:3^
M#K";6BV'JUBUBFUK0<&/518R(\>-'8C0XR"3"2TD0W7D_$AUL('JI<2H;@J]
M^FOK.UC"4[T8M:-FVXA*D+3Z79W)*>YHI"]C[4I*CL"L?#U^G67L+#([-9Y:
MJE?3Q&WR&DD4?_S54R(T"SB)2],C1$%$*WKF%=[-5,8!W<FI5\0=`V)Z;ZWM
MPZDG'<>7[AAV\&VKT?ZDA88_;QK:KA3F66V536ER7D-I6I0>4H>JRM74H]!1
MV[3]/34?*Q7JB;VO)6E-K.\%!70;]/I!'^.-5MNUTV_%GH;]WJ*--Q774CAH
M`T!HRO\`6\S_`$M__<[&@(@_9^_W*W&'^SN3/[9&4Z`\P_\`A8F@/4?6?W=^
M?_\`=.XT_MN\KZ`EFL`H<[@2GTW.X)]I'8=P/N[>S5=W=2?;+RC\7(S,>7F]
M[X1`8,5RL6I9SR"VN:'IH"AVN&0XZ^I]3HZC\8P$;=3N1KRW9.T]PO\`OMVZ
M>;_(Z35BGN)BRWV]N_Z"%K/0]/A;2I7]3IKW.-CQQY<N2JJF[7\CESJTG)<!
M*WV3Q*UI^,T%R[)UIUJ+`8;0\[)?=:6AILMJ<0I".]0[E';8:D3>-6MI-/R/
M&YER[/*:@_:<G',=R>;+7=9P[`18+;B?5U17N+<9JHS37:''B6D-F4]L`I(*
M@`GVZZ8>1&PI]55K2E#T&)AVKL*YBYJ;*:T'$4PLK"MTD`;;^S?I^Q`V&N>1
M=C<_;7M+.%G$M.MM/V(VTC8`';]#_)&HL%)+WMIWE*RUL=0W2!^&DJ_]&-^_
MV]-QL$]?OZW.$J/X1-BRD2[B97UT<OQX$=MVR=);"6I2SL8J#W[F2RCM4M.P
M`2=]SKEU8\W+K4POM.T&5;I^)#BP/AF)42M`(Z!H;;*0!["?:-2XV)R552AF
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MU:`QC3%3@MC9UL1?H)E<@W,>VFW][#:W#-*9E4Y!0^RR0T76"M*>Y?6YE%6X
MTTH0^Y=N>,K4XI*,XO[']W![T,#Y,>3.+T'+F$X5D`NOX-:ZY7'7=0:Y%E2R
M>7Z^!]=4-3>`NH:GL8$FJ$V8RZML*DS8J"#\110YE^*;;3TX%AV;L>7W*2CC
MRM*?^9M:;]S'XXO\IN(,WDUV&T&1LQ\HR6J_*>MQ&5'_`.&F:R6#83JU,UU]
M<2=:Q'7'%JC![YA#0V2@H0%'I8RL>>.J*7-KZ;23W#Z7[C@9DK.1.U*:IK%M
MK5:?RK=M(/>5?,>3<C/WS'''$V<6N?\`#U5D3TP.,8['K\DXOR*._5WY=B&2
M[9.,1(\%-I"CD&4X\RTOTTMN!0KLB-V[\#1RMX\L:7O-5\#Z-\%<XX'R9QMA
M5KB6<XMDG_S*5;L]B/:U"[6,S$AQHSJ;6*9:55TRO=3M(;?],I5N$]QU:VU2
MW%/:D>6FZ7Y-[.9_>=/D'C"#EF0X[FU+R(</RO&:R765-M3RZV15JJ;57JV<
M*3`E.+0ZU)`"NX;$_<UN]E-]"9:R;5.G)/WG_@(*%RKR9CR9B9^.XURCC\5Q
M,>9DW$]K"8O(B5D)6[88<N8^L(;02HH;=4I0!`U%Z$_#VDJUCJ#I)KC02F$\
MH85D7,^9YYE.34>*1,9JH&$8=29O;U>.7`D2W6;/)+5%78S$*#/SS33;2TJ*
MU(*@4@[`X>([M82HXM$G)N06/R)/F]HZDC)<4R+-<1RO"LEQ_*:R+<6.'9')
MQVXK[F/#C2HCSYBS7(#[[$=:IX!+;I0I*/B4$CKJ@N]OLVLGWDGKN*KFJN!&
M_P`/<U%#&YDQNU7!;C4?DAS)CE[%IV$BDP[)Y.3.9!71F)3?XA^'D]!;,R_6
M)!"P$E(WWU=Y=B^L:TL%J,E+WJNFE-U*D?(QKF5;I9:4DJZZ:$_VI8E)_L%Q
MON4$L/2%'L->[)AB4@J"@.\AA8[BCO2-QL3UUB=V#L<F7K+PU*K!LW<;*K<:
M?D0Y\6&HV&XIR#B]I/9<>H><N2Y+,]U^&A:I.172[-2DMR3ZS@573@""D#??
MZ`36X=[MF)*CA-NK>B7YGHNY9GZT%;YE6VDZ;Z.J]AUN8N;V\8O,;P7C3%ZS
MD'D;.IMQ`Q6BD9'#Q#'(T>LHY#UW8VF6V59850KH=:/W!B,Y/^94D)0I'Q)O
M^OA9EKDA%J=-Z5/O,0Q[.2E.XY/972OX'GSEY'Y=<B^17-'D7P#@66W9=YER
MUK"(:D7S[^!7>&\3T./Q(.490S?2>-K3@,72)C,FL0S'MOKF,S.CJ<2ZIE%5
M+`S;+YH3M]%;%5U^XL,6U:Q)N'_9>SCXG#H.'O/VG@2>6N8)?,5M3R<1K\[Y
M#F9;5UV-X9=WDN1GM;G<GD7"?F&&Y*</P>N@2F''4NDN1V9)#JGE(3'N9&+:
M=,J$Y2_RI/\`%$[)OXE^*A#:EX:?:+[AW+O/K!.-N";G!.$^86<2R2RGY[G*
M^)^/,/QQO,^-+OBG';*-$5$HQ`9C\BS[DN.0[,H#;"%I/HD[I&_:,#*P[CN7
M7'IR=51NM'ZCP5SN<U<:2EHW0T+C$OM,Z^>SS/Q.]Y*3\^NL%X,Q7)ZS.,;I
M&9/8Y:9I:<FTL7&;,,TS.3X'C[-33MV;;>\KO#^_J.%(]/=N6KEMQ2:EKM$>
MXRG-0:>KX<=H]F4<I?:F6]EB-CB?&'/,1Z5.YO$F-:X=CM;20,:E5V01^*F+
MF$\[\I$MJFV9A6,9TOI8]1]`5L"=JGY>?@2]1L.3_(SSXX2J,6C<G9_R9C5A
M#MZ!G#$P:;!;?D#D&?>7_&[,BMR&E+$>4[@D^79W]="L(S:PBS4E(6-@O72W
M:E"572@5=Y]`?!5OR1OO(=S+^4\?YKK\4L^->4"W_#)BD>FDX3Z?*\*)Q[QK
M4V[!=DWD:)A#:ICDN6XIV6^LK`2$]9!D^SR`Z%K2Z0=NC>Q)V;]P((&QT!ET
M`>[6MU.=OD6VI*A>A&R[;KS5.%>TK-Y#D0)*&WH\MEMI8=4I*6"V^ET+"&P%
M/A7;U25`:S@UQKG//5>!19F%=R'6#CZQIW<-Y#DN3*^=EM+!J3/]5DTM$IF=
M(@MKWC1W'79*TQ'$L!*5%`5N03[]3YY-N<G+74\H_I[OGSD[JG9^6<JI<TJT
M\N6GVCLTM.S5--F-V()0CU5.MID/2%`?$Z^\L)*G5D;D[:T=^V^)['`P;%F%
M,I5GX:G3;94A1)*=BHGI]!._0;=-9^8AXD_W=U:&STTZ\/$S&7))2C6J*'J"
M![=.O#Q,7KU^XJ)FG9(2XPWN@N>F\PL(Z=JG$.`H"]^GIE7X7W-2L2["5UK5
M:,\WW;%RKV/[SC123VO\AHL5LQCE_F%:\\ANE8DL6426\M*8]>9R5.38DIQ1
MV9<2Z`4I'<"GKN-3KRC<CNK0I,3-AB7.G=;;KN'`J<PI[KU/D+"'8I9V]0U\
MF/*4RA1[4NO-MN%UMI:ALDE/4@ZK;N'.4O=<?3U'KK.=9G#F=5Z>8I$/H7U!
M&QZI^)LJ4/N-I67/?[P#K@\.ZM\?M_([?-V>/W?F7]_Q!/8Z"1N.]I;?3?;?
M9P()'W0-M1IQ<'RNC9TA>MSV,R$$=""#[=O?K4EPL.YLE'ULT)7[A-_TN1_N
M=C0Y27+)Q>XB+]GXVK\UCC!/3?ZPY(3[?>[R-E*D^[V;>W0P>87L5_\`18_9
M_GM`>HVL_N[L_P#^Z=QI_;=Y7T!*F>MQJ#-='XHMQ)*PZKJELH86KO('4A.V
MYU![G_P+O^A@2>#NJDXO0*[DJ"ZV*I(`(]#^QE]W</>7CU&N7TY^TP*:97)F
MQG(SBE>F[T7Z;[\98`.^Z7HZDNI/WCL??TU=9'QFT8=2L?`XU/AM/1.F3#;4
MN42HE^6M<MU04=RV7GBIP-D['Z=QK@><O8O^[V:U%0RWZ+/II^%)<6YV))4A
M*E?A%*EDN;';V$Z5]IZ)6NG;CXE^A@-`:SR5NH?`4AL,A.VR3ZKG>!N0H'IV
M[^_0&K`JH-:'7H3:3(DS';&4^M2R)<R0VAIU;PWW*/30`!]S4'_O/S8WG1`"
M0$@!(2D`)3^"D``;)WZ[#5_:^!>0*D[`D>T`G]+KJO>T"<O8T>ZKI5?9-MBN
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M>87A&`9-;^K!QQ>;Y!<Y`;5ROMLDS_,X4JMR?(;>N>])Z6\94UR0VZD)"'FV
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M4I*V5LP8T:!'>JWY+;2XZYX1U8]0=[P/:G=0.J;)V:E0G_N_61,XR_(?`+_R
M*R#EUO&T2J_GJWM:F\LFW76V8V65%*YA]/&#B6Y<FX64.,.1XK#R_44"$D[`
MPL;&ZJ=Q[$RVR;+N<LDJOE.CF^"H\LZ.IB9-4V^"\/U-U'G5RJ^PN*G-KUL2
M9,)W((<^BDU5OB4*(%+:,=Q?S#K,@EUH=`)BN]!:Z)'&-QX[VZBPPY[$^$:(
MXSB.+16,!QU\U^+0\5%6Y)Q=N7(6J56H#SAN[[(ESHI?D++TCUDR-W7"L*U3
M7.XY,\Z48M]*JH9EE.;YF/OE/Y%Q:.0C,6Z9O&,B:-9)AY/'@.TEF[=NR*U&
M-3F;&*EA]DN/NN2FQU2T%$DI!W]9AXUJ_!3NI-^E6<^MXM-"DQEVK33U3-`&
M96.JJXCU<_5+B1:UR#'BM-UDRL532U,+IEPFT-I]!`0@`$(`V&I3]V32V5*J
M6.G)OBSI+IEAWYF-):;=#?:$_*QTM.)2X^M++Q++KA:?]1LOD$+=4P@DZQ7V
MF8X_+).FPZ+<13:G=W$K;>6ZM:"AL$ETRBE'>&TJ+<<.-!KWI]%/T:P2A!9!
MQ7AF5V^.7F38IAV0VV&V";;#+BXQ6CL;G$+$I6VN3C5C8UTY^CF);=61*AJC
M.K+SB5@I6=`+6#5B&L.=[2W'&D*F/(C-LOS9R0VU\[)6CHMQ<9H).W;NKKMH
M#JGJKN^YMMH`T`:`-`6%M"CN1N3]T_JZ`N`V``]@&P_0T!70!H`T!I6++DF#
M*8:<]%UUHI:=ZGTW.Y)2O8=3MMKK9GR2J0>XVIWL5PMUYAH4\?SG[JZ)FOMU
M-U<.W$QEIQUIUUI+##$>"IS984A"@M2AMVG<?1J3\TO$^=7NWYGS=$GMX_Q%
M%+P*ODAM):>B)81VPGJM2:^9$(2`'5.QT-B:H[=4O=R1[1UT^:1Z+Y3+LVH\
MR=7X_P`3G(HLZJE%,.SA6\%)!0FQCABT*4^Q"I;':E:B/?M[=/F?$TZ63X^G
MK-MO*+NJ6GZVQRTAQ`?QUDT^JSAM[[#N6IU?S""2/P0.T#;Z=1;LE*7,MAO&
M65"26M/3Q'!AV3,V(F:VXE]I;B&$K;W*E.N@*90IKHILK00>OLUS^XNL:YE<
MM=:>GB#VSC$Q*5(];T9CBX^X#J&VF6>Y>V_QI.WNT+:-7%.7Q$0_L^I*%^+'
M%CB02E<[/'4^[X7>2LH82#O[""=_O:&3S&_X69H#U#5O3SNS_P#[IO&W]3EW
ME?;6(/GBWP.,+KFZ4)&9"^[&IISBW0M#L.4VL*_%I"%L.)42K=6PV.O)=^[U
M+&LW,?IIIQI6O\"QABJ;HY4-#';:KK*^/$=2W`9AU&/)>3(?99<B%Z%*2A,D
M+4$,N2/1"D`GX@=5G9_JRSA1Y;L(I/\`S?P-WA2;I!N3W:"@?O(<;M]=^+&"
MI26$JD2$I0X'B$Q%,N([D++[I"=M]75[ZMP[R3Q^65YOX>;<]Y*QNWY$).=R
M+5OEVG40X'%N!"24-E)]0D=KC;@W9<;(W"D.=JNOW-7^%?\`F[?4:Y:HH\FS
MRY%6]3,?9^E_C:ZQE637`FWI<UN'K*:W(P:D0L<\%.H-9\I*U)"MO2C^HYL/
M:5F3L#]T)8W'W]0KUSI2Y4JC<:]0_'E5<&1%>^88?CI=;>(">\+)*N@)_`7N
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M1BGOO#_@JZI\=H7\15`I\;MY5U#537>28W8N7$UOTWITF[Q2ZQ^\FV<T)3W2
M9$EY0],$)ZG5GE=NBG!N;=*[BTM=[O6+$K,(KWZ:UV4]5-=5Z_`V(?A]X\-Q
MQ]:\48I9W9(,R\M:UBVO9:AOV*L+NR1*L[1Q23N5R'7'"#L5'6UB"L_YBKN9
M$KEUW-G@+*G\?.&,=BKAT_%N`PV5J4OL8Q2H0R%K(]1TLB*4F0YL.Y>^ZMAI
M>@KTW/94EQ[E<C!0HO:+"KXWP:C>>?H<5H<?7+9]&4JDJX=4\^E`!8]5V"S'
M^8]!T%8#R71\6W0:Y?+^)$N7Y7-HKF8:&>Y/J.O-N):2ZV^(_:/11LT8R8L>
M*B(?4^-?:#WD===TJ*AP-L;[#N/<?>H^U1]Y/WSK(*]/HT-:2XEJPHI4$*+:
MB"`L#<IWZ;@'76PJW*&\&X2YMHT7.47YSC:[B%"G4RI&.Q2E*`0VKZZA]\Q2
MRI)82A!)4X.K8^(;D;:\UW"[T\AZ5U.ZOO@,-PO]51/+/RAI,809=).QKAO/
M<HLDDOM0^1;.)DN,2Z)4I?XQ$E&*8Q6NJC']S:4V[[73M86LU7;48S5%7CX&
MUO*=M.-$TT2NR2A%S6/PUO*:>+S<V'8J[VVZN?%4'(,IPM.MN%33W5&Q_"'L
MUIW"RK=CJVGSRX;"&E^KU/'8?'+FF!EN.^0>47/(V=YWQ;2?DE#E<?Y5AV+R
M\X@\B<CP(+5;(K6*NPJKNEH;[(($?L3)>:27%.%HO)23O4]F[A>G8NQO6E&2
MGIJ]=/)%M;SH*TK=R*IY[MQ\SL4\4?-+(L,P;F?%>#,ZX-\ALPY7Y6YFY2:A
M8]7XI!QV?$XCL\5X+H<=C1IMFW\E(DM0#:K4I;$F=,4CL:0C=OO?A*]M;3II
MZ>LCW^A>?-SM>H?QGB7[3VVS&XBV$WD'"ZF'EU57PY/&D?'4+;QF+CF07;2J
M3++%ZX(Q.39V41BQK(\4/,+;4%2B=8LX$8TFVW+R.4<>"A6-QOS5"%MAS5YB
M90_)X>YSS;-<JYH7!PJKS+'WFL*R;BBUYEM.39-+64/%_P`K5R[&FMIO'\5V
M'/38*04RBMP%23NFSM2G:TBR).7)M=3[)^!]+YMXYS]>XYSGB698QP;CW`_'
ME)35=X<:D88GDG%TU\93_'IQOY-C'69+#+W]@!<A3Z&T%925$"3"^YO5'6JX
M'VJW[COUZ]>HV/7KU'78]=6"L)QYJ[JF:JFPK[]M1MU3-N'.Z;"GOV^YO[=-
MBJ2;V-&U9ZKE]A7;4FW8C<5>:A`ZEO\`J*=>O3[VL7K"M)-.M392A+X74-1S
M(:`-`&@#0!H`T`:`M6GO24[[;D'?[QWUAJIVLW5:DY2CS)JE#`&70>CYV'N[
M!].^^_=K%)<3C.-J5WJ\B\C(E#B=_P`:3OM^M^C]'2DN)+N9%NY%1Z:5/$"A
MSN2H.#=/TMA7^.=*2XG+GM?T+VECT5B43\VQ'D)6WZ+H4VI*EM`J4E(*7.Q/
M:I1._:3K9:$>=NW.?/RI#=3X%CB5HNVH&IT^K,5"[6M:VE.,K5)]!B6T%]H5
M(B,=4-`?$@;DC0D6[D+:IR)^MFMB5W#RN=DV0UUBW.B(794$&1'W,>.:^''=
ME+5OMW*+BE)4"-DK!'7;62O>6Y791Y4DGQ&)^S^0E7BIQ2^A86EV7G!20D!)
M3_"3DTH*`!Z!6^WWM8)4/>/,;W?<_P#A97=_D:`]1%;_`'=^?#Z?$_C4?I\O
M<K#6+'P2(ECXQ^.0BM&)V:&D-N*<B*8"'BI+:OF9?R*@M22DI'IN>T>P]?N:
M^;?4Z<I2BMM"]@G*-%MH1ISGC#/[ZZRC(:^6Q'C6L;$)=?#%NAB,[^3]//@S
M%S@]&>1ZD=V6@IV`2?>">NOD?=L7/4'T:_:7?;;MFQ)/(6HSDCBGF.^RZ!22
MUV+QH87S#M](M5Q:J3/:4PJ$F$A)#3Z([CP+GXDG8="GVZ@?1T.[1[]_O')V
M.G+;6E=*;3TV;G]OO873L45UNNZI]`..*S(*?"<6K,G?^=O8.,U4*WFLJ"XK
MD^.]/+B4K*BM3OINIW)]H&OU-V;_`(T?(^89U/F7YBX/LU*A\<O,WN?M0]93
M74X%-3[/[*\P:LQY"6WD)V4^8[A:;1N%*=2A]+:'B>A0?7/LV/LU3Y7[C&X3
M&$P9]7B=)7S2F-(AQG&WO59<6!O+D+1L4J3O\"QKO#X%Y`6(]@^(*Z#X@"D*
MZ?A!))(!^C6P*Z`L<1ZB%H[UM]Z2GO;5VN)W]Z%;'M5]W0YW?VWY%@93WEPE
M:E!24M!2N]+#*=O[';2H$>D5@*^+=7=[]&8Q?C,<N+\SN%/(9;<6RM\*9CAE
MWT5AU"GU>EZWP.-A2>U23WA/NW!B9=KK6U'<F3[L:6ZU>T8VEGKXZY"G8I);
M2C%<_G764XM+4E932W+K:)=Q0RWE+[4&R=;7*:0``GJ!OOKE9_V\M$11]EH+
MW<%A;;?<VXVWN.\!32%I4YT([@I1V]FPU8*^[ZJ]P,B4D%1*U+4H[J4L@J)V
M`]H`]PT!E"R!ML#]_?\`\A&@+2=SO[/O?Y.^@*:`-`&@+'%%"%*&VX'3?V>T
M?>UVQ_W/4P-!SE*]#CBU6M3*6S/H@XET.=KZ#<0@N*/36A15(22D=?;KR?=/
M^0_,;!CO'A+"?)/S9<CM%N,_G_&A[V^T1W;2-QC20[7?M`'K-)9804^Q(3[-
MR29V#ASS+?NZ..OIM,NI-,]0`=_A<;<^X2V20%).Z5)/O!&I-5;GT;^PP)',
M6HXIK66]+JXKK$*9-]>X;;3"2(R#-[WY(8><BQ("(RWSZ:.X]GMUSR[5BW)=
M%43C7UD>_:O7'6#HJ'G?Q+[6#F5[EK'#?\></2>#<HQWZPIGL2S699YM(I[[
MENVX_P`1SBK9D5;*K*1?P6A(%09+"V&)'KHWVV3#KI2A'^7RZ4YOO%U9_;,U
M=9C;61?P>8FK_P";#C2ALZ)7(7UU;O#.*%&197`IJC'*2TKI&1XQ$D,+4Y:.
M18"(Z5!R0AP;:EP=8(EJ[.U:Y;C]Y#=6/VMRXEIDJ4^)'%L:[N*,\Z4UL[GE
M8NHR7C"AM\HPOTK6X=QZ-&A<Q39=4X8L",M]A]$@N(>4I(WWYE0I\C,UW;29
M7!'G'EW,GE3C6$/QL7AX,]D?,.,55K@66-VT+,YN!4M"Y,NKN-DV/4&306:.
MXL%5<1MK>))D-NK;!;*0-[/QEY!UBO)'V/ZD[GH3L2/9L3U(V'0;'5^OV_\`
MTF=Q8\X&4..E)6&TK7VI4VE2NT;[!3JVVP3_`)90'W=5VX[6-HGY^20JR+(F
MS78$5EION"GIP"&PI01W2GEM(B,A/=O^ZD'V;ZY9$U"PY5UJ2\NU>OXSM13H
MVM4)7#^7<#SVXOJ3#\GI,BE8VB`];_55A%F_*M6*EM1]_DW9#?5YM0)*D[;;
M;'6,7*\2D_MF36BYJCG%23T2=^FY]GWO<-3KUU7$J'6UBW<:KN5U*:CG4-`&
M@#0!H`T`:`-`&@#0!H`T`:`U7WV6U,^JYVH:DM2'`&EGTO222A]*D%(6O<]N
MRNY.W3;0#6,X.:.OD*Q1:X0D)MGY,'X40I#3SGSDB:64H0X)\DO$+(5VE.WP
MZV*E?OS_`-0ROV?:F5>)O$I"?12I[-BVT/A2AS\O,D*VD@[GM0KH!ON-:HMK
M6X\PW^%D:`]1=7U\Z<W6?PG/%+C5*OO#E[E<^SW>S6]IVW:?+M(=GX]/34?3
MD=WT,4L7RTM_T667?0;4E#CQ;N&U>DVM7PH6L#8$]`3KY=]4?,J4GCM*ZMFB
M?V,]'BN"G%W/V]*D>^0<]Y:H<YGTN/U#EQ2.5KUC&6_1M2VF&Y$>+5NPTJBI
M;;D+5,4F0$J5[.GLU\SS)_4FJMRA37^2#/5]OQ^Q9$5\U&3E15I*2&EN^8^<
M6,K8B1ZN2F`_.J*&%)LL-3&LX=E>N1ZR9*KGO7`<KX\_93R5;@-`CV:B]EN?
M4B[BOF';Z5-UN"?M1Z.]V?Z3MX_6QH35^N^Y-JGD]#Z$U1DJ9;^<9::E]O<\
MIJ,IH/[MM(4^I7S#R0''$*(&WWO9K].]BMKY%2N+W^7C^!\E[G;A&]6VZJKU
MV[W^!U]:6)2=ZXG\*>AQG*MN*X%-2CD&ND;LXQY5L!:I"%!6Z4[K]J@-E]/9
MLL?$-<9PC<=9;0<]A#J)_H/JFF+VK>#SKJ7(J$J3VLL)2R0^#Z@W^(]VLI)*
MBV`ZJ6%A*0IU`4``0$E(!`Z[!9[@-_<>NL@LT`:&))27*]C#]#0Q"*MNL=H$
M!125`*[%!82>J24[[!2?8I/7V'IK:*33KP.LKDY+E>P06?XE&R3%;6$A?RTQ
M)385TW<F0S:M*WCICN'XVE2R/1)!'XM1'LU"R$EKO-"WCS(9&14(DS'$INHC
MHK[Z`Z0AV#:PFTQW6PG<'T%MMI*#["=]<L2["//S\=#O:M=1-[Q>I*B/B"?;
M^M._ZNNTKS_E(U]7+?P[2\Z[6Y.4*RVFMIR<*S^(IKH=`T`:`-`8I`)CR`D]
MJRPZ&E;;A+Q;4&5D'H0EW8D>\#76RZ3`SG)Y18OX?BCY9D1K7):^?;]Z!W1*
M3'J]=K.LV@#VE:;&,@M]R5H.VQ0H=->6[MRO)?+Q,HBCXES,YDX5RIS+A&.8
MYE+'D%Y`<C\C4S.19G88Y%B83%DQ\6QB377+6.95(M?K&+2F0MH1HS+)="4[
M``&R[1<OV8OETBTA5KX="7%+DW,+]@RWD7'>"5E:KN#LBFY/N\@G`[="W6_P
M5UWK!)ZG\>W]_4R_8MY$^I=KS^#H:4?$5-A,7-1*I[J%6/UZV7&K%'S\Q7;&
MF-+:<CV<3ZE=CL)DQEK04.N?&VI0]A.I%K"Q9VW*:DY+Q>SVDO'Q,[)B_EIP
M2KJFHMU];7V$8+GBSQ#PBJ,*OP_@WCAEB32S:^<C'L:A0(T_&;%VUQXML0X<
M<[T,QU2H:-TI9[B`-CJ@SX]%_H::[]24^T]Z_P#D@W_IC^8W4>1X4%M=%7\4
M<=9@^]=-Y.8&$<+?7,:5E\6*[!3E$9BHI+2$W=+A.EA+Z%>HECM;.P``YXMW
M(G%*YL\D;V.U0G-PS];B6NY/AL?`9GF/@OQV\M;3#>)LQX4Y3XLQZ>_8IBR*
MNAJN,:?,'*&(JVJ<1R)M^O:RERKQM?KRZ_LA,MQ7GW%(=!6K>^LV[,TNHM?,
MJ>[]FQ+4$\=5=-M7^)/6@X9X-XQ9<S+">-.,,02\)#Z<DK*6BQENO;L`TX[)
MD6R(_P`PIUY32'%N(7LMP=^Y/74EX^-;7,DU*G$SCQ5$KG`TY_DSB*[9^@PN
M);\G7K*`9$#`*J7DB8I],`&;8^I65%8E3OM*Y4GH=R1J'?S+T8N-IJM--":\
M23AU(KW$JLTGK+R/S_L8K8^.<-UK^P=,Q$;D',G([A"75^BAFNQ&A<0V2I*5
M2+)U*A^`K5=8GW*Y\37_`$HC*[9CK%,VZ3QQQB3)38<B7>5<HVWK(<6<YO9,
MNB;>"@6A#QUEUJNC-I>V*$(;[4G;IL-6,L:]<A3(UM^S7U'67<+L(4M-5KPJ
M):'CE5AODO7.8[%JJFBS?A=V%`JZV-'C^G;8ED\9YQQ08:9]3MK)P![NX]=S
MUTACV[:]U%K8NRG9<W3G\D2Z0`'$]N_PL)2[N=]W>[J?N=-=BEO9%Z]<<+C7
M+%Z:4,^AR#0!H`T`:`-`&@#0!H`T`:`-`&@.);.,LMRTOOKC-/0XQ3(]3M0'
M%S_05"2-]@_);'0^T;]-`;DE'HPGEH4KN88DAM142>U3#">U>_X8">G7WZ'%
M8]I2<Z:MU(?^`1]3Q;XL0K\%JVY!<0$_"`H\AY.>H'0I^Y[-#LO=V'F/W_\`
M^LG?V#0'J*K/[N_/$_K4>*/&I2/<">7^5MR-57;LCGK&N]HAV?B].(_W(;`^
MH)#;*O66IR"AM@[$/*7>,A+1!]H<)VV]^^J[N6+"=Y.6RI=^]*VTMM!1(B,N
M+KFTQT.1HHEI625=L>0U'BH2QL"`KTDH``5O[/IUMC]KQ+M%1:D12OPVLO?J
M*M\M.NU\=UR,MUZ.KY9EY]I;SGK/J9]8$!;CG7?W'V;:L_\`ZYC<JE%)23,W
M.ZWK$:R;HZ(RH1&880XPR[%2$MQ`V\PTF44-]ZVFV_C!*4E2B!])U9VE\I#I
MQILH2XMY%KJ[6TV9VB^V5+?;6&E@!I+Z4(>!'514$+)V(/OUS4.5N7$JH3YI
MRCP*NJ2[L4^HC;?]S<2@'?Z>X*W]FMCJ4"DI;[%)>/4DNEYLD#;\$?#VZ`L0
MH!(VDI4#O\3JTJ6>I]I2`.GNT!SK:"FY@O5CZ7%1'%H6Z[#D%AP.-GN0LK:4
MVX"@_2=`:%5$MJU;K<R69=.E`;A2Y;@,QQQ&R4L)4-BOM`VW.Y.W70"IT`:`
M-`5UO'8_(&N^E)2DE`<(6A(2=]DA9[%.[;[=S*3W#?V;:A9.Q`C9G5S%XZSA
MBVKH=E<)RQF767=!CT5<BX2_3(384^1=P66VX3S/S,=Y/;W/+>;V_!UY//S'
MC9$8_P!2+CMEMW(3IN:^X7'&N=S+]^VKK^CE8S?07E2U4,J8S.4G&;!A#^-W
M!D,%:1*FPUA4AO?=EX%!`(U==ON.]2ISOXZDFZK;]N_[1WVS^*;!7ZA2@)4Z
M?:Z02>\[`#<@ZO.7ET*V4>5\I?H:AH`T`;@=3U`ZD?<'70&G82DHA25-H`=]
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MYQ;*>5+J;8(MK^-,=Q&DE8_6RHE=%E7[D57IH"?QS394`-M<;E^=M]-;SI#&
M[DDY85>E2K>M/;1[!UF...%<*QMF_F\><:4T6KAS+.]NW:C'Y$*MAPW'E/2)
M]_;_`#4^M*(Z$^FX@KW=2KX=]1)6G>UDJFW1[]S<E7S>OS_IX:CT8198SE.-
M5UUC<VNG8W<QVY%4[6R(\RMD5_1,9QIR./EUJ*/PE)2DD^T;ZEPPXPLJ26E#
M6_._BK_<561OKZ(93R1J8U>WQ5FD5*$HPKF#%)#[3(#8?A7K4O$I2=F^STRU
M+M6%E2=E$H'75==O]'2N\E]LM_W)NV]6/R_&KK.K766=?&NJ^9#9C2TV#1EL
MV+*&TI2X\AWO0LN@;D@`G?VZE7,A\GJ*'N:6)>Y8Z*I#'.?+[AWA?D:[X0G8
MY:P+G'JW`KF-6X]7L)J),+D"U>H:]FL?9^5A,R8-I'=<>#021%"5'Z35_.6X
MS]^NA[KLG9<SN7;9W[+CRJVZUTT]CKIL\1R(WD]Q7D.*9_E.'9C7Y##XWKK>
M9D];4,29$MF74(7%>7"C%CYNV9?CI6\P6N\+F-_NNW35EB]RLO793\_,I']-
MWXR2HZ-_A773370Z?CGS_CGD-C;V4T\"VHC66T:@L:B]^6,N#=2H[5Q`,>=#
M[ZJT:>@26U`L*4ZW^"L=#JV>7"_:Y8>!`[EVF>#9YI_&]?55+\BG+.U)RGXX
M7M?'C(-AF.2XO;6"]Q]6U62XHM:8X)/8$.65*A8!&_</;MK@J4\3KCU6.V]G
M*2?:0I*=U[>JI:P\4GX>Y"&>PCW?C$J[_P#/:P4;_>D9=#8%(2IL][QC;*Z.
M@A)WZ`H^+IH"QU3:`M'JD/\`:CY5'3^R3U[SML2=M`8RY'2GO1*]51`!:W3\
M*P!WIZ#V[[Z`S)5WI"MMNX`[?1H"N@#0!H`T`:`-`&@#0#<\GQ)DW'([$!A3
MKS>28W/+:2=UHK;)N5-=Z$$[0AVD>S;0"T=']A3$]Y<0I,MQ)/[!UMIY">G[
M!*P/T-`1$\`/[EGC17O%MR``=O8/X1,H&V@/,9_A9&@/495_W=N>_P#=0X@_
M_.<R<MA?[<#8_3JMPHQ2=$EM^\9$8QG[J2\A^\U)2S4]OP[Y7C;9VZ;H4Y*>
M4@[?K2ZA*B/9W`'VC5%W2<^O2KIS+>6^.D\9O?TY?>A<,_"TZ$_"%++B@GH%
M+7V]ZU`>U:_>?:=>D[-&,K=9)-E35UVFK-+(9`?(2VIYI!62XDME2NT.)<;;
M=#2D$]%+3Z:3U5TUTR+MU77%2ER\*LTE"$])I->)Y16*+FOSES3S@Y^S?[2W
MDSPVE^+/E!F'%W%N&X5;XU`XLXEQ3!58R[29'S#C=W7MVF3#,'Y2U*38[L.1
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M)EPQ4U#E@OYAM38MR\VBQ?82R4QV^^25[>F`GMZ#IK9[33MOOQK/5T>T5GW_
M`&ZP98:`-`&@,:ROHEM"%.N;I0IQ?8EL=I*RK;\(*3T(]FL.*>U)@B_SY'FX
M]0V6=8S*O*VS<KY=+:S*-4>7)V6RI5,["1+[ODA"LT)5ZK7:I/=M[#KP'U;C
MREEV)6:KW'6FF\N>TVG>GR*32;U6YD#_`!VY6;Q>\@VU^YED-S*KR@AW,_.E
MSZ^TN*[.8D]=HU(IZZO>K,9CXK:1HRH@]5A<DN*41LX2>O:7=M).4I4\V>GS
M>V5QOTTE/;6GW^>I]?Z1XR:V-(+A?]9"5?->FED3"$(0N2B,A2D14+<20&QL
M!V[[#?7M;$G.VI-ML\+D0=N\X/:F=778XAH`UM"G.J[*@M5OV*Z)4>U6WJ++
M:#T/1:P=T)/O/N&NF?*"A^FDF-XS6:W-K>.,<?XM,>AW%_N)4Q#`3846(.`L
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MF35]<_!S2%.35XDQELBQ577])%JF6HXMY+:D*M<]FU;ERE#Y5$BO/&$Z`RX4
MF;BX-VVDKDY:^)$[CW['<ZV4D]S22\*JGAH3L\5L)S#C+@G!</S%$.1FU?%N
M)=J8:8"J]N;8J?L7H+7U4RS4/BK#R6RJ*GY;O2?3^$:Q?G.%QPC)\J\6>(R;
MES*RI7I.4HR>E743GD_F^'5_%F34UADM0C*55Z;;'J5$M2[B;D.-NP<IAHKZ
MJM7+MU2WKN+%8#A:2SLYLH;$[Q7&$OB2?FBSPK_RS]QN+INT\-Q)[%)AN<>H
M)RXKD-V;254MR+(:2U(C.2(+#RX[[2&V$H>96HI6D)2`H$`#V:LKSLRM\L5%
M47`V^3Y9]7(]_6OO:[?,ACS?X-8-S)FIY"N;NW@62;+`)#S,".PY6,#!9%A8
M2'!'?2MY-3:1)0CK:9`*DG9([MM4&3C1DW-4KY%]A?43[;9Z%I4ARO1.E5L2
MX-\=PD,;\#,8Q&#>QVN0,TM(%_A:.,GT*DUM.\]Q6^BWEUO'2)T6##?BUU))
MN'9R+&.ZU:S?33&ENJ"=M<\:Q+;ILIL(]_O'S*2MN47S.6UKC]ST2W:4'-X/
MP?B?Q4Q*PHIW)E/,D2;0V<Z=D4_'<8=:;AP:R/"B1*J--;J*R+`KH\4(BQ6T
M.+6X75`J))O;%IP564.;8RLI1<YW)1<M\F]^S;YB9Y?YCP?/58;58%:NY3D5
M;R7@=U7PZ6GOK2&Y%-TB':K?L(=6BK$2-1SI*R?F3MMT!]TKW7#_`#5/0V,%
MV\1\W+TG#;36J\22G/.5W/'_``SRSGN-6C$.SQ/CK,,JA.O2&350Y-+B4Z5`
M>EMRHLJ4\6E,QEAI/;NI6ZCMOO7YDY1Y%%M:O8>`A8NVLR]*;;C+95[-6?#K
M#OM&N<.%J=F7R1R/%\E'LQ\<^$.8,=JYL;%\(FX[R%R3*E0+7CQVPPFMD-N-
MW%>U-?KTRPRXVJM7L5'<CK8DY+5MDDZN._:DY/RQF?&.54MOD6#89GEGXL.J
MPT-8/85-;7<CV^>,YS!?OK8*L%L1XV`._-NH#LYP!MF$UZSBRJ5)4IY`ZU%]
MMUCJUW>2Y_PA,HL9Q*UPEB+F$#+$3:*91<HT^9R.(K-+22A^+99]E./IJ_2D
M--B%)E(:DH24)UJ#7NOMM(%9Q99\G4G`:YZZ%U5;8XY9YY3TV16T[%<0CYES
M57X]]9MPZ:9.XZ=4U"D;O*<7(D[M'M(&@/NUQKF$/D+CK!,^KV7H\#-L1H,K
MA1Y"FER(T2^K8]E'C/K8=>86]':D!"BA:DE220=`+;0!H`T`:`-`&@#0!J;:
MC%VDVE4'&M#&VVDRGHC'JH"W8N[[G>M(2&G4G?Y1MU/0E.W<D]=563)QGHV@
M;#X*8LM)0AKM:>`;:5WMI2(T?L[5[#N!1L?OG7:'P+R!$3[/WKXK<8;_`/R_
MR6?T4\D92$G[X'LUL#S#[GZ3_P"+%W_1^G[^@/4;7?W=G(>_L_-1XTZ^[IR[
MS=[_`';;C],:@X<913;36W[S.35R5-=@_P!E02LX\@$'YV_H@0"#VF$Q.>&^
MWL[DHW^Z#OKS/=9+YE1JJMHN,:*^1G)[5&7VT_(7#7[FO[X_\FO5=E:5K70I
M=YBD([VR@I"T*<0EULME?JM;[K:"DK08Y7M^Z]0W[2#K&0F[S:6AD^5_D%]C
MY]GWY/<OCG?E_P`=V<FY(M?EIV36E!FG(.,5.>3:%^/,I49M2XO=T>)9;9P3
M!2A#MBRX%-[I4%`ZY4DE344%OSG]F'XD>2N6T&:\N<7NV%QB5!$P\Q,2S/*^
M.ZN_P6AN85Y2X)FU7A.10ZO,<<K%P@%0)Z'(\UM2FW/@W&I^(^6Q<3TJT!(<
MZ_9+>$/E1DMEEO+_`!%9KMKK!L<XWR>MQ;-\RPC$;C!\1F.R,/I[/&,'R:#B
M3D?%H*_3@-^BI;+.Z5$D](-E-9+KLJ9V#AW_`-F_XJ9(WY`5MC@5BN-Y-X/Q
M7Q_S0:[+<A<<O:'ANN=J.+I(2]+DHJX])0)<:4XE:G'2`%)]F\G-;G=JM53@
M8$;,^RM\.G<HOLL5QWE+<_*.1^*^79M;&SW*8N.2>3>*7?0QO.FL8D2'*=NW
MBUL)KZQD)2E<Z&-S^,.HG*P-WRCX+YSS=]H[PQY;<EJXPC\7^+F!9=%X5DU4
M+(+7DNUR[D.`5S;C+WIRT4-9CF"68$RLCQ4J.[HW!5W:L(?"O(VS5^BDGJX^
MP^G^<-3#25::U"DD7U&2E`*B&DSMU$^GONTD=2?P=9>UFO:_=6NFC'"^_P"W
MW_?]_P#5T`:`-`&@#0";R>FCW]8NEELN.0+-,B#.7%*6Y42-+BO1_G&'C^YF
M.\XA1V!)V^YJH[GBQR)PE+<F2,;.N8=Y<FU^P^>\WB7(ZC(TY%;8C1T][(EU
M_'N7\N6MO<9/8V6+HC2:/'9U;AK/9C\BZ])+3"I%@E4:*%)<`*M53M]+7>R_
MR>\R5B,(.D$MFVOKV[3Z#8A5JI,;JJM<F=)5"B,Q_4LWHK\Q*8S#,?L<D0FV
MH;X3Z6_<VE*`5$;=-7^#)?+1JU77>>:E=E>D[DOB;%-[>HZ@]0?I!Z@C[A&I
MNW8:AH`UANB;\`:=A,8@5\^?(<#;$*#,EO+W!"6HC#CSQZG8]J4=?H]^J^5Z
M4E[[]N@I+@QG>'*APU"\TLH"(.09VNNR>6REQ#ORD&;!6S4T7JH&RABU(RB.
M-MDN*65>W6MZRG:<XZ^1G5;1">;-$NY\5^83%$I$['L>:S*L3!`2ZNTQ>SAW
M$1!`'5IQYC\9MU*=]=<9-/5;C`^%#9_E!AF-63P1ZN0XM5V#)B.MNP56$NI2
MY,=6I.Y+Z5).Q]@`/OUKW%^Y;_U_@=\><H7/=WZ#"^*:(L3`,BH8ZN[\E>2,
M\H)0<5W*]"-<JGO+0E9[@AUNQV;(Z';X=7MBY:6-%.4-G%%OEV5T7-+WJ?>+
MG.N8L!X^>;:O\BIC82-X]531Y<:RN_7*O[`2W1Q42)\QQ+!4/03VK6H]$GVB
M)'(A;4J:Z[M?N*#"G><9)UC[V_3[Q#-<G\G9RR5<?<-64:OCD!B[Y+DG":TN
M]%.3H^**CW&3;A:NY*7(L;NVZ*'MU4Y/=+T'[D)>Q_D6"QE-5<EKX_Q-=OB;
MD7)U*D<B\JY+#;6F/#_)WC"$_AU*VQ)EJ?7,FW_S-MG,),5"BTKY"74LR`G=
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M<AN3+IY#Z'2TGH>P[[`'IU%I<@HVJQHUO(%KO4Y7NDTTM=6M-/4+IKRXR!F0
MR[C_`(8^3,NH#877R*W`L:JU2*Y9VK[E"9N25<Z*U+:![VW&0I!("@/?&YEM
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M2Y#A2IQY2BH$`:`?>O@0:N!"K*R%%K:ZNB1X4&O@LM1X4*+&:2TS&B1V$I88
MCM(3LE"`$I'0:`V]`&@#0!H`T`:RDWL3`:--;4P&QVWV.WT[';]/V:FV6NDE
M76H&TS.?;L7N,0:D-$W5G$A3BH;[4-8)MK=.;]0%+4J.VE6W4@C53E5Y]!N%
ML?\`U>\3^$J,M:_]-7$C+>_0#JE;?<UVA\"\@1)^S]!_-6XPZ'_7W)@]A]IY
M(RG8??.M@>8;8_0?_%B[?H_1]_0'J0K$%7G+R&"#VJ\4>,NNW3M>Y?Y72@_>
M7L=OIVU,FUT/4;VMJ'YO2TK(<:@)[?2^8=L^\>SU:Z%\BVC?]D67PK;Z%#7R
MWN?_`.XM+_\`L+912QI/_*_S%RU^Y*^^G_'&O:8^U%,7^[5JO@?F-Y36@#?0
M%=S])T!3?]7_`!?I:`-SH"OHI4>XJ&Y.YZIWW^GJ=]]`<^8I+82"XE(4M#2%
M%6P6MT^DT@$>U3C@V`]YT!O@$="-B.A!]Q'M&@#0!H`T`:`M6T'$G?;H#L#[
M]]:7+;N+0"-R?'(60TTJAGI=2Q;]U8EZ.Z6WV/K!/I/RR/8GZO:;]9@GH)(1
MMUU296.WMVF5XB>X\OWTU<FGNI8.280^]49(PX3*$BK3LU6V:5K)4IV;4,M/
M/^X2%.#V]-:8J<71[0W74=4!M/1HN%L?@>JDI6$^Y)20"`GV#[FK^QL1AAKI
M+XF"H.Q!^@@ZU,Q^)>8V?*\LU''&62VVE/\`RM%;(6TV.Y3B+*1\NX@`=25(
MD`?YX:\YW/6XB?OJ*_'ZZ'4UT"M@MD1(D.+$B#8?"Q`AQX<<@CIL4E0_0U9]
MNTLZ'*[K!OR&%\QH3-IXL\ZP%M19*Y.`6K49B8\[&BNS0IER,AZ4RR^N,.]&
MX<[>U)&YZ;ZL"()/Q\YJQ?F2E;K\"KLEM\+Q_&(%3_"R]`JH>&W^55S+,"TQ
MW&W$6<:SFRX12MN5/C5::IY/[FZE8[5:3Q%EKE==.!)QKG3DWN:,KWCNY99#
ME>0.Y;GE73YS;Q\BL,&Q[(7L=I*>R?KF(LZ.]94!1:V$&2(Z3Z*4.H2X5=W8
M#OKG+LD%5T?IZB:LMQ5-M/:.SA'"^`<?J+N)8734=@ZIKYRSKX==%M9[>R@^
MJ9<.MKGNN+)WW+[JE]2KM/376&(L-<D=^I"R;CNSYGJ.VY&#A"6`RRTD!+:M
ME)?;3ON4K6OJZH$D]P]N^MJD8V$Q0B.EM<@ON`J)6M6ZOB.X`]VR1[-`<&XQ
MVJO*YZIMJ>IMZZP4M-K`L8\>17V$4)VC-6,.=$LH\XMK]N[0&WNT!H,X?0Q,
M?_)MFBJ!1/AB*[05M;70ZIN*TE+:XT:M=8CTC-24IV<CJ82B0.O:-]M`<^-Q
MGQ['EP[&)QUA=;,A;/5CZ,7QQ%E"L>[9V6;.N`6VE;/0;;'_`!M`+-<*#ZJ"
MN*PM?<"EUM*^]L@]%!7R2`D@]0=Q]_0&=KU^\J=>=5Z9/R_XQ9[!L0?UW3X3
MK>'Q'*]^WZT<^[F&%364UP!QB'#DRY`4''%]K#*W6O1;;^)U]4I#8"?UV^HF
M3L-L2O-IM&=PO$ZO+8U;E^:1A>9':1*O)'EM"6Q5P53X[JZIVHA_,LI#T=MM
M'K+'>>[H1[]5MK]U^1-O_!'@/(8D=UWO4TM_M#9><67V''I0[O5=7ZS*"X%`
M)"2%+VV/L]]]A?"_(BG03V[;(:+('P[%PN=VP'7<^P;#73(KS*O`%^Y]NYW]
MNHX*;_U?;H`T`:`-`&@#0!H`(!_Q?>U.Q)**EYA`2`6P2`IY?I-@_KW-N[L'
M^6[1O][7+)R$E0%BI,5#0[I`2LJ4$H4K9E7:2E6^^VY"DD'[VH=N7/'F!SE0
M(\B2S.DLH5*1O%AN,]41H[WQNN$^P!:CN?NZW!D='=%F=B2`E$I.P]WILL@_
MU!N?HWT!$[[/HA7BSQ>H$%/UER`>X$%)!Y#R?8@^P[[Z`\P>X^G_`.%F;_H?
M3H#U(5+B/SY,_&_M\3N'Q[#_`!R<N#Z-=K]VW9M4N.C-[6U#]6S#:LJH$-]I
M6B-=+(Z#9+;-8TH]=AT<&W3V_>U\RS?]QWFST=7U"W;KC37^463?PMJ2>A)&
MP^\1KW-FS<A3F5/84I=[M6":Y6MX*:U`:`-`&@#0!H!)65H\U>T%2F(IU-Q,
MME/*Z!42)6PVA%F!)/<4*LW0GH"03N0!UT`K?B'17X7Z[_->_P#JZ`-`&@#0
M!H`U)L2M1B^=ZU!KO-E:VMD@A94E2]P"P4#O;<`)W.Z^G3<ZB9%N$_A`QN;B
M-A^74?(SSK=;`D2JC#LU;=;<<CRZ^YF%5%,<+84VA<3)/3=>?.R41MTK4!TU
M6O'NVI.XU2V]^@^\?&&ZEYE"TA0+A6M043OZBEJ6X=CU0%+)(2>J0=CL1MJ=
MBW;=RD8.L@;1]IU(E\3!:KV'[Q_QM:-I*KV&4Z--[*C6<Q.(5QGFP"TE2ZZ*
MPE&X#A=F650(J/3.R_QY.R>FQ_0UYCN-ZW.?NNI+=R''>.!$0IR!$`66O5C,
M]BSON/46V\@D#=0[FQ[QTU<]MB_E^;<:7+D)1HGJ,/Y75&+6_C+SY59[#D6.
M%6G$^9U&35<0;R+*LM:=^N4PV?49[3\Q);43WH(`/4:GD8R^,^$S<%X!X.PR
M:(KRL9XFPNG>EQ^UM4N?`JF(S[SJ6FPU(:7%;8+:EGU$'O`WW.ND+LK3K':Q
MKN)#(;0A([?;[".OZ!UT^;N\/M,5D5Z:YSNRNT<MJ,IM[0US`:`-`&@#0!H`
M_P`G_&UUM1<I4CMH<[J<H46W0TYW<(;Y*$NLAMSYIA6VTB,IM:%M=>@*EJ21
M][4++_3TGHSKBVYJ6J&TX2[6^,\,CH6IT-8_$2IQTE3I4EZ2`UWGVHC)4$_1
M]&JS%_6N2=O6GJ)F5"481KQ8Z_T_?U?8C5M4GH0@UTOSC.2<754`:X`-`&@#
M0!H`T`:'.Y=A:CS7'2)0D)&Y_5_QM]!&];G\+J6(>;<4I"%`J3U(4"G;?[JP
MD'V:Z6U<HW`ZJ+>PY-_8.UM:\\S!<M7EI2TS6(6`W,>6H>FA+J5`QY"#U"R4
MH[=^N^JG+N3C7F-^E/@<G'X5\&WY.136[2<_)4OT&FC'8JV5-->E7,]Z4>JF
M,/:L;]RB>IUUP)<^/S/BR+>R;-BYT;LJ7*;*/>*="VFN]D*6M3(4MWM;<5Z2
M.P/;K(20$)0K8'V'8@=0=33I;E&ZJPU0P'+/,3&'64;"L?B1\AY$S2'/_)#'
M@^MB*Y$JF8SE[DV1O)"5UF,XVPZE;LR,7"M:DMO!`4G<;#7?9V1K,^(_$@LY
MT>59F3G"I\B$R8L.3-.?Y&93\2/L/EXSKW<IM'ZU!`T!YF.T_=_\61V^WW_J
MZ`]1-6#^?-GZ/UQ\3>(-OHW/,G+FW77#NNMMOP-[/Q(?^6TE>8U*VUKZ4<]:
M0K<?C')T-+Q]IZ$,*VU\]L4_O=GASHM6G\M)[Z"XU]*>TIPU@!H`T`:`-`&@
M#0"9?H8DK)XN2>O+$N#56-''9#A$1,>S?AN/RBK<A#[185VC8^[KUT`IMMN@
M)('0$^T[>\_=.@#0!H`T`:`-`&@$SE>.5^85$_$[V`S.HL@KI%78EQTM+9B2
M`OYM*"D%27.U"%-KWW"M]M:92_VP$1PK=RY_'E.+R27[V@;FT>0R5MEIR=:T
M<AZ',L/2`V2JR;;3+*1^"EX:K^U_NU\0.[N%?$.H5\0/4=%=1T/7V'5K/XGY
M@-]NNP.W7971)VZ]3[A].M'JJ+:!AKU;69<A4V#-I<>K\>6QE&82TK#BI+[#
MBY>-8Y-2@AM(!?6^CK\3+221[M>=R\63NJG$SM'O;]9!;6\&D`MK0XD+!0C8
MA+`0=MB2G8?<)UZ;%L=/";:,$3_-2Y<5P//P^`)"K3E;*,'XVKXC;7=(F1\K
MOHS=JAI'=OO%JHSSCO[!(UH"4-+&:KJ^NJ(+8:@T\")7I1W=_P"+BQ(T>"-]
MAVO>@RI2T?K0I/4[Z`[.@#0!H`T`:`-`&@#0!]'W]2<7]WU,,P2^L.4CWN,J
M0GZ-RH'K]`V&J[NNUDG'^(:KA(;\<8FL>PU/9]W=$IT']#?57V?X[GJ)6?\`
MMP\V.YJ\*P-`&@#0!H`T`:`-`6K6&TE9W(&W1(W/7I[/N:$;*M]2UR^(D\HS
MG&<-IIV09%=5U)4UJ$.6%A:/IBQ8S3BPTDN.J&P4MQ24@>\G3[C?&Q=PE\8Y
MCXNSR.N3A^>8;D;<:.J5-759'4RUPHX"-W)S,>4[)B)'?T+B$@GH"3K65]65
MRO\`F/08MJU:C-7-/`7$.3'E+^<8]-SMB@QVQ-8#4EF1^,:EL%*W`YWA/P;[
M$C4*['KMZ:$#.<O^SL.HF9%9BI>E/LPP@!"_F7T>HIPD].U.ZRO[FVI&-9=J
MUR;-64_R%S(_6N)UV".S7,*?#:B[R3(7W(-+CU!)RBPL&PIL)I:*)-M[%J64
MH6'8AA1GE-G?9;CA00"!OWV$R$.BJ$6_%W!K6[P=WGWD"J2KDGFZ)9YB_,LY
M2)[N*8'=LQI?'N$U,-`0U5459C2HRWXC!3\S*=69)<[4[#9NKJ=S[/D`>+/%
MH2GL2+'/PE&^_:!R#DX"=_?L-#!YAO\`"S-`>H:K._G5GRP.@\3N'^GO/_OD
MY<_0U#[G=3LMZ[#>SM1(+\/+H"1^Z1Z&4IUO]<D.V`V!^Z/?KPV/:E+N]F::
MHI_F6[=,67E06FOHK*4-`&@#0!H`T!87$(2XITJ;""D(^!:_5*AO\!0%`;'H
M=]M`<MZZBM6S%*AF;)G/M!XB+%<>8CM^\RGT_BV%#Z%$'0'00R4*6@$%EQ:E
M+]O>>X[GM.^PT!GZ>[V>[[V@#0!H`T`:`-`&@,#RBKN9'1*F'`L^_P!171I2
M?N)]^M[]EW,6J:`T-,F5C_(&25J)#+%5D4:-?U<0-I*C818C$'+%`=I!0NMC
ML*2/:%$D^W7FHY\.VW'U(RGY4_$+@/&TI3C:%K)[EI2H]-O:`1TZ;=->BQI?
M-P5R&B:KKX^1V5F35:HY-];HHJ:XMUM*?34U-C:%I/;NZ(,%R9Z0[B$[K[=N
MO347,S+>!+]1.5.'\3#LM)NJ&_XDI%U&*P[)8,FXRQN)E5_:N.-JE29-U'9F
M?+]QZ_+U"9(CQD[_``L`CH=1\:]#NL^>RG!?YOX'+<.F\I+;9<4VIU#90LMI
M25*5Z:T+V"1N3U3J_G)6K/1>V@(@<[I^O></$?"%.(;:9Y"R_D8+[_6<+^$X
MI:J:6YZ?<EJ$[+GI2D+V.X/OVU"!+Q#"0Z9"`&RLK#R02/5?0EF.'>WV=GH1
MT;>_<G0&QH`T`:`-`&@#0!H`T`:D8SI=J^#!@D_N"A]/:G]LL)'Z15JH[K?C
M5NC.UJXH.KJ-'P;(2O`*R"$J#E)*O*)]9V['I%/>SZUY]GKW!EYV*5("@%=I
M&_753VS)A:N3BTZLZY.1&]&,8IJG$>/7H87%<541`UU:H`U@!H`T`:`-`&@,
M;I`0HD$@#?9/X1(Z[#[^VM+DW"-4F_(WA;ZCY=/61:\FVFK6DX]P<LQ`,XY:
MPBNEEUB1(2_3TMC$R:YCR&H\F*MQN1`AEH;DH[R.X;=1HKT7M31+M25IKW>;
MRH=3(^%N%[6F[,GXXPMTQ529R9$6MAP$I;C14./R'94=0DUT54-L!T]Y<66B
M`-]M^&59Z[BX3BJ5XE?W7+N3N6^DG;2KMW^QC>5/C-AQI6IU1?<FX1,</UNT
MYB?(%_8UD:,ZXA5*N-$O)%C#%8Q"<2I*62RE*5]JT]XZ=L?DM.EV2:+'MM^U
MRKYBDGZ>8I(W'W/="]'>H.?5V+?J%DP.0\08M?5;"4J;[YE3-AR&$.-J!3^)
M*^I5W'<`=KV1;Y_<K0M,G)[?_P!J#HXI[MN\C9Y7<D<P87A%YQIR*C$&9?+%
M(QC&+YUCLBZ<KV'\CS''<8?Q^947P<6#-8LE2EA"U@-,E(`[B-<?F(O<SSV3
M<C-U@FD?2&HIHF.XE6XS7PT5T&AH(5+"@MK+C<*)6U<&+&BH62HJ2PPTE/Z&
MNR=54YQKRJNTB_\`9]N`>+'%ZMCL+#D57_UKD7*$'],CIK)L>87O'T'_`,63
MW_H?1]_0'J)K/@\Z<^'M/YIO#ZA[NHYCY<('Z.VJWN'[3\C>SJUZ;R0<)IY_
M++1XM^F&H$%KYK?N[S+(L'&`WL.WTP.S?<[[[_<UY3%T[G:X<Y:_%BR\A9*4
ME"2I:@E(VW4H[`;D)&Y]PW.O>E.7=JT..-/%E*VTI5VH>"B0O\';N2@??ZZ`
MP%U844A".GZY3R0/T.T+5_4T!>A2E;]P;'T=CA7^GNA&V@,F@*$+W0$)+@4E
MTJ"/B6@H2"C=`Z]KA.V_TZ`M[7=D*2\ILN,[/-I4EU`*Q[$$@>FXWOL?;UT!
MQH-%'KQ*^7?D)5/E&98.%USU)CQ`&SBN_P"%HI2!VIV'30';`"0$A(2```E.
M_:D`;!*=R3L![-`5T`:`-`&@#0!H`T!H/.]DGM2$*0&MWW3(8;$9P;J9:<:4
MOYAQ<AL$H]-"_9UV]NHU_*<4[(I49;D%Q55>87EJ4>C%I,F?K[::'VW1$JLC
MB,1'%2VTDLM0W_02'5^H2P5H!&ZMA0Y..KKK'89'PC/^H0P[O\R(Z'_A2"AQ
MI204K3L2`"D^P$ZMNVY'(N3AI["='X5Y""Y"EN'#<M2A$5+B\8O8_HO3V&G=
MWJ=V,RYVDE`:5,4&U$J';ON=4??LGFD:R^%Q9CX[F/.X5A/:TPH/8SCK)"%,
MN$,HI:J0B8TXV\MIV,L+V*DD[;I]O=JR^FM%ZB&^"''<[_37Z??ZG:KL2TI"
M'%JV^%I"U_`E3I^$;_3KTF3\2,$*HC;N9><LQ+*4.57#WCM%^8=B%*XM=E?*
M687+<>%8CO):NVJ+&W'%-IW!;=![AMUC`FKVGO2H*V2&4-E.WM6G\)S?W%1]
MV@+M`&@#0!H`T`:`-`&@#7:Q^X#&\GO;(WV^)L^S?_SS?WM4/=-_F$,SP8WV
M8G8G???,L]'LV_\`PUO/NG5-A?OR]-X'J]_Z&O48VST\`5.ID]P*:T`:`-`&
M@#0!H#7E.^BT'2DJ2AUKN`_8E8"B3L=@`=2<50<VKFD:&56NFTB?R=+1D'._
M"^.-PW)DJ@A9KGB8[:&I"9!:KHE/7>F'$AL22\ZYV[[]$GZ-5W=NF_V=O@>G
M[:\6,:WZ)<>!\L9GF)Y"<>\FYM"NWI.44Z^2O(>QQ&NL<398QR+@_'=AC5(N
M/D<YJ%#GM-T=HZ9;3<=_NFP@L[I!W'EK;R^>7/6B9[_M_P!-]C[]8G<YXPG&
M*HW7>M'3FB.!RAYC<M9/PO@]S0R86&7CV;WE-F^0XG(5!CQ<::AW;>/W>-3,
MJC9?"IH6:6T7T*YU^),05/)8[1VAS7:3OU]VJ/.]Q^B\/$4E&_&4JZ-:4_\`
MS/J[PW?N93QYB&1/L3(L^WQFHD/?6\=N/8(+D)E;+ME6-*]"NMWXZD+DLMD(
M0\I7:`-AJRQN;I>_MJ?.>XI=OS/E&Z^ZGQU>ZNI!#[4MWY/`_'F\=6T\B!Y-
M\-T3D(LAV1+EYSE#>+5:EOE:/E(T&:X)NP2OO,<(^'N[QW)6-85_3>?4J8"F
M+8N*[25&>X`A7<@I7V%!2O8;@H(/LZ>S5A#X4<)Q<9.+VHB#]GYU\5>+S],W
MDS^V1E.MC4\P_P#A8F@/4=6]/.CD!S;<H\4.+$A)]A^4Y@Y96C?_`#95UU![
MA!?VR>5_.ELW&]G:J>FI(.F]5>09$\'%J[Y\'TF#L&PZ:W9;()ZA+?NUXOZ<
MF^Y9CNW?==J553?YU+9JF-);N5F]<SKZ/,3`K*^"^?2+DE^6ZXIEE)'124LJ
M25J2HCIKZ$4QD@-W'RT2/;SHKUBHNJ6]71PZRAOM*D-R/F0L;@=$^P[ZYW9N
M$:K:#HRA8-Q^V+*BJDJ4$,_-166VE+()"5K8"5@';Z=1_F)\%]H$]66^1F>_
M77E2F$III3R;1EI;M*ZE/=N')B%%4`[#?N<"PK?8#IKO:N2N)\U-`**+8,2H
MR7DK;`4'CZS2_F(Y#*NT^@4I0N3W?2G;8ZZ@2L?(IEO/>8IH5G$;B/(196TZ
M&JN;])DE7IPVI*W"ZE??U7[#[/<=`+1E!0DDMEKU%K="5*"R4N**DKW'398.
M^@,N@#0!H`T`:`-`&@#0!H!O^0ZFYR/&\CQB@RBVPN]OZ"V@461T\:/.N*6S
MD0DQ(^34D=T*]-V@=E=[H4.US[NQU#N8<+EQW7*2;\@>9W"/-[ROA<:\<<Q<
M^6[MW077+O)/!DOB#$YD:10WM7XK<=Y0C-LMRFV<QJ7;RK+FC,,?3*=A176W
MJQ3#2^Y:5J2-UBP2I5T#U)`M?:]<LU&#5D=_B3`6<Z;G7UDJUO\`/\@8P$X5
M1^.#'D!74MGEK>,I:K^1+Z._]5PX2]V7E,N.@CM[==<?M6/%N?/.KW:%C949
M)*M!O^.?M#<^Y:\BZ3$[[D(U%7RUE62S,3X\3D-`O'X&+V/C'1<F*IK2?)@)
MR*1B\B[LEMUTQIE#[LIL_B%H(.O'_4./:MW&U*3IY%@L*T[3;D]G@2(QK.I=
M%9X8U"Y!S:!Y=.\VX]26?!UOD\^/7N8LN_E5-AB%9AT.(8;/%\C`(+%K6WL?
MY@NIB(:?]$J6K4KZ?SK<(UT<O,IW95=KH?<23)<?:EH9++*6W[&)(45=S\=,
M>,E25QDDI0_)4Z5);V.W?V]?;J]_N:OY<;'NZU\]$:])>)$'QG+F0\Q^7'(*
M6T_)6'*N)<<5#\=AEMIVJXTXRH5SF)"PI3CTNKRG*YT.0YN=Y+"T^P'4[W?$
MST8UI5DU-M<[MR,$FJ[32Y;4%55*:[68PN[6<@UO>MQMM*+K4!KB`T`:`-`&
M@#0!K#NNTU*-&ZI>T&&0YZ;)7L-@MOOW]R?61U_3U5?4L?D\7YB&LF]CV;/`
M;!G.#%*5ATE2ALMS+N0%.`>Q"AF]X$!/OV4@[]=5_9L>.3:^9DVI/<M@'IUZ
M*%M6]@#75NH#6`&@#0!H`UM!*4E%[&"U2PA)4K?8?1]WH/ZIU*^7M\7]@-"P
M]<^G%&R5OJ0M"DCN^%I0=4E8)'PK2G8_?UPR,>+M^[*2=?`RKCM.M*UT(;UE
MA*M?+'/D5B'),+%>*L/QY\)<CEF%(R29:W'KPUK#,B/8MJ*DJ*7-@E"1MU.H
MD;,5JZOS/08^!:R;/.YSC*FZA*9S$J9UUR8Y#4)3X4H=S4%;+2U0%UVY8]7L
MD!<9U0>#G<))V+G<0-2(PQZ>^J>15WEF8TG'%NW.5[?5LW&";A5!.C&$[7QO
MD#`^K/J]5;5O0C!]53B8YC/+4V4,)=6&.GXA2N]&R@#K90Q%MJ_80)+N<VW*
M]<;;KZ^.S:=M,$MH0TB0Z4M[!LOAE3J6D?"RSW)D)"FV6@E()ZG;<]=:.QB2
M=:R7L*RYV_(ZO4G)RGQ>W[B$WGI2XE9\25=MR')J(5!B_+?!%Y3V-G+:KX=;
MDM#R5564*5,F?,E#"7PL,1^\*[I#Q'X)&V/E\2KK.5/46^/EY>*O<A;;\>8G
M*XXX]7RB\X'%.-RU>HE"$;MK2VMI(2VMQO\`%M%*=P2#MO[]9:2=%L,.4I/F
MDDI,B9]GZT!XJ\8[$_#8\BH'WG>1<H4=_NC?6#!Y@^T?=_\`%C]OZ'ZN@/47
M6]Q\Y.2.W;N3XG<3*1O[.^3S#RTE>_TCH/O:B=P__1S\G^)O:VH?_'B5SKV2
M'FPTFS84T]VA2%2!"^1F)VW'>D35;)3[O9KPWT5^_>\RVF_]M)/@Q30XS!92
M$"2@R5N36EK;(=:2PKL=8=>4=]G5G=(VZ)&VOHA3'00D(4ZI)4/6[?42#\)*
M3N#M[COK>%M7'RL%5)0L;*'<-]]CU&_Z>NGR<!J44AM20`GL[3\)0I8^CHI!
M46W!]Q0(USG9C:^'>"Q32%+"E>P)"4M@)0TD#]@VA*0DJ/4[>W6@+?EF2VMI
M25+;<45*2M:U@[^[XE$A(]P]F@,J$!"4H3OVI&R023L/<`3[AH"[0!H`T`:`
M-`&@#0!H`T!IOP@^Z'=W01\N?Q:U(!,61\RUN4J"MO5`[@"`I(V(.@$(KBCC
M4Q&(SF`X2XQ7V\O((D=_':,M,7TYN0F;=I8->6TVLXS'E/O;=\@NJ]3O!V`$
M;N</"/A3GS'$XME&+2<9QYQQ:I\3`V*''H621E4;N.1XF0L?54R-=0X%.^IJ
M"IYOUJ])VBN,I';KC;R9)M(Q:R.6Y3>8>2>!N'\4XA@8ICV`8G$A4]7C&&T,
MXXAC[\^*U+>QW$:[)';)4`RU3JNL8^61(4LR0`=E[';7A/J'(E<N=-;9:?<6
M]K(?*Z-ZCOUW`6(P%I562<CH'XL=UJ-/I\GLZ^"XZXM+JI'U:VZ:\37%HV+W
MI]Y02DDI)&N_8^T9"AJ_3VG%[-=@@^2[:VX4XQS+D6)G<S,J+#,'NLGBX=?-
M5\R1?JCMN(IHS%SV1GHTR5=K:93MNI9(`U:_(7,7.C?D](U^X57X&EPW%RWC
M[#,>E0,"IK&/D,)O,LE>QB;)%HWE&7MIO\CFRH-H6S+E7-G.>4I+7<4&.`#U
M&K/YI\68WCVUG,V)29+D.Y<L,7F[%;<7*ZB?BY*$J""I#ED'6Y".]7X2%;'4
M;*RGRJCUJ<+SYHK=J.)%N84N+]819$:?$(;])V!+8F1Y)62"&7F/B[FP-U;]
M.NI&+E;-2.=?VGN20IM02I!`^D;E)/O*3JSYW<56`T`:`-`&@#0!H`UQO;%_
MJ7W@T+,_V`\DN):"R@K<5^"AEAQ,J0H]1U^787M]!U"^L*/M\4]E?P,JCE1[
M!J.!DJ7QQ2V;J2V]D(G9$XT1MZ;EU<6EBM03U[&Y`DI6A/N3].H?T[_P4&/-
MJ_,!H`T`:`-`&@+5=W:KL_"[3V]-_BVZ=/?UUAR<%S+:@:%G:PZJ*N;)"E1V
MFD^HE`[EEY2DHV2/?\2O9KE\Y<&AS[!M4MIM`:E/EU+;X[4*9],)[74#U4G=
M(^'J/UPZ:VAD2N/D>PAYMQV[2DMO,B-UGXSL769Y+GL?DKDS"Y>5S$2[:+C6
M20845R4RTVS%::BS:J0AF''90>Q`42DJ.QZG77S/18&5+Y6G\S1NI\;IBEJ6
MSS[SPZHI`4$952+"4@]#VM4>Z=S].HUZS=NTZ;I0YVLR$9R5PR?FW6?\>_/?
M_.6J_P"(]1_D\G^I_;^9V^=QO`K^;K-;^%SG[G1M7M[7,HHDJV^G9VC[MOZF
MGR63_4_3UG"YF8_-\*?IY$3_`#:\>XD?QDY8L[GE;D[*44%167]=!RZYQFRJ
M79<'(:-^*\F.*A"E*KIT5+K96E1;=W4#UVT^2R/ZG7T\3G\Y9K\$:>G@?2BB
M*UXK2J=6AQQ^DBEYQM3:D.J--7N%T*:2ALK<4KN40`"HGIJ="+C!1EJTB)-J
M4W);&R+OV?CJE>*G%Y.WQ3N2%GI[V^1LH2G](#6QJ>8;N/\`]%C=WZ.@/47$
M5Z7G+R00H(`\2^'E%1&Z4@<Q\MDJ4/:0/?MUU1][OW;=EXT'2RUL]-3?MOZM
M.?5ZCIXI'N);*ZMVOD0ZARVL;46*GDJ%RPJY3+:76I2?6C0BL;D.'U.WV';5
M1V&Q;QKBE8CR\[UVNOM9G+R+UNXK494@W1K0>,)`+A'</56A:QWK(*FQVHZ%
M6P`'M`V!]IZZ]F<R[6T9R@ZQ=&`UOU[O'[@&M93G/XG4!K0!H`T`:`-`&@#0
M!H`T`:`-`&@+@M0&P(V^\#_CC0%J@E04%)0>_P#"W0CKTV]NWW-`8_2;4D(*
M`4(`"4^Y('N`^C7&Q9M/FJM[^]G-6H1?-%:C$<X,I.+0*6,"W+NLQX]KF&4.
M+^7)C97'ELI[RHJ`[F0HIWV)'4'KKQ7?;%I94=/YU]Z.\9RBM&/C(;0AE]:4
MK[FVW%H"$K>(4A)4GL82XCU%`CHD$;GIOKU>%?NVERVW1/P1GJ3>E2!/-2I/
M,W*?&WC)3KFO49R*CY<YAMX[XG0JKC7!6D6.+XQ:I;0VPQ;<@92P$PHP)!AP
MWI;B5H4VD6-Q*_"2NZI^FXQU)UK74G8Q&2ZXA2D++:XTM]Q+:E!AH2),9F%%
M=:)V86Q7L)2$MA"?;T^([Q?D\;^G[7^85R:WETFGJIK;<63619"5?BVDFM9F
M(0H@J[G$*`2E/:D@K.^V_P!W7*[@X[CI'7U_F8<Y2VL9^[PNQI+"1DW'=@[1
M73*/17C=@XFTQ>X7')6FL3">D-IIY]T5J;8>9(`6/B&PU77;<[*_2TIZ;S"U
M\Q8X9F,;+:QH1TNUME%=4BUIW)$-VPJ+)!/UE4SD(4Z$&*\`&U?KT'<>S7?"
MR+G(^=UU&GJ%\@+^(J2M(*B4ASM)[.@!':!N"0=7^/T9KWM3!DV^YKC>LW7<
M;MND-P*;'Z/ZNN71R/ZON%0_0U9*W:2U2KY@/T-8E"THMI*M.(#4(%#[-=K%
MJW=N<MQ56WUH(2N<$IQ'(E)?^76BBOE-NDA*`\:2Q0R'%G\!LNJ'7IU`U7]Y
MC:R9_+WDI6ENV?=J%MJ<#B="6L"PM/HJ94O#,<8[%]P="JFO:A2%/H)V:4MQ
MQ)0`!W(ZZVQ;&-CV5#'CRQ\W^+8'*U(`:`-`&@#0!H"BCLDG?MV!/=TZ;>_K
MTZ:TN?`_("7O*%RWBLU2YBHBGGD/%1[?Q[84'0`=MQOV^[5=1&!3`!I++25J
M[%--HW*B?55''X0)42`DCW=#KOCT4_4:7+4+T>2XJQ,BB5$$D@@;;I^`[?YW
M;?4TZPD[<>2&D2PI!_"[CM[-UK/^.==+=V5JO+O-)0C)U>TIV(^C_P"25^KK
MK\W<X_=^1KTH<#"\XAGM[76FW%?N;;I><+QZ[I0TTM"@H#WD[:YRO3FZM_<:
MNQ:>U?>1U\GF:;(N`N<:A;S%A*B<49;+D0T3HZ'T1A`DR(DMU++S[K+=;:PR
MXGV%2VD)5\*B"C>NQV/?X>1CY>R_Y?M?YBUX5L)UOP?Q1:VDE,VTL.-Z"993
M$NI?3*LEXQ5F9(#K:4-K#LH*/PI"1OL``-<VW)U>UG9)15%L0QOV>Y)\4>+"
M?:9?)?\`;'RG6#)YB_\`"Q-`>HDJ+7FUR8X/A4CQ)XA5W`=1V\P\N'V_H:\]
MW_;ZD=.T[5ZR2V+-I^J8SBAW/RTF<XXK\-QE]1<:0H_L$K.X'LWU#[0WS0X5
M.6>_]S'_`%BEUZTR&@#0!H#!(<])EQQ#;CSR`DM--[_&I2@@!0'M3NK?]#0$
M:\T\H<&PK)K*@L86:VL7&G(J,MR7%L/L[K$,8>=^-^/E620X+];C*:QIQMV0
MY+>:;]-Y'7KH"0F/7$/(JJ+>UDR%955M'%C56-:ZM^NGULD>K#FPGUE278\A
ME04E2"6R#\)VVT!U4_@C]'_'T!=H`T`:`-`&@#0!H`T`:`-``]_Z&M<?^;S_
M`!88RW+J`IOCEOM20OD['5=I'13C;BWFB?I*'_B'T'KKQ??E_N8?ZE]Z,B;\
M@N4;;C?`V7,62F?GF;93C_'/'-?+29$:9EV2NOLKFS63T>K*:M9ES'D'8=D3
M<^S7H,;<!8<3\95G&U`JD^:=M[Z9-^L<BRBS>587N5Y%\FVWD,RTEN`OEME`
M;CQ>]1#45M*$[#5POA:W&!VRA"E^H4I+FX/?M\6Z4>FD[CVD-G;[VM0"T(<3
MVK2%)]NQ]G^+KKO8MJ;==P#L;`3LA&R0H)'8GX0K8*VZ>_;47*QHZ\0-QE&+
MNMV*,DQ2/6Q<G1&<0ZW(#S%9>,I4C\1>JBH[FDMHW#,E`+Z7"$#X%*UY_(D[
M%R,49.UC&3P[QE:69!CVC9].712TL+N*^0A"`XS8UC8#L%!4>YM2!VK:4E6_
M<5:L,;(:548%2P\ZVV4RFHZ7@MS<1W5R&^WN/9^,>3WA93^$GV)/36;W>58N
M.T]6O3B#-\RW^P3^DC]37/\`ORX>GM`;[]1T!Z@?1OUU*^9NO6NT%?T3K:-^
MXY)-@IJ51@L<*P@E">Y0VV'T[D#^H#KO8;C.O@P,OSO,DL\87<2+L[97TR@Q
MZ)!6LH1+=M;ZO9<B#J.[UXR7$E/O3N->4[EDOYG;O`ZU1%3#C(BM1DL,1FF8
MI6MP.2'GXR3'<2L^TM10T&T_0D`:M<"[U8>2!U=6%&`THP&L48#0!H`T!11V
M!/8'-@3Z:OP7/\HK[BO8=:7/@?D#4?9$B4P[Z86PQLIM\R/4+3W:0(R=_P#S
M8"CLGZ-5]3`3OF$Q@J(A*GXY[V=UQFTM)`45J*I3;K(;(&RQVDE.^VNUC]S3
M@9/@OR+Y<^57"GEIY"8-G/(^-?F]>.."J\GK&U0*]&29SBW);::7C7@J3-=Q
MNZ<HZO%L^B3!+MF&VWIT!UI"74);)$T"9HOMH,RFXM'NK+@JLB9#C"O(P<J5
M,OD-]-944GC+&PJ_RV?AOU5`G2K5W,L5R1<FD]8RGWGHZT+<;2O43)N<CBD]
M6-@Y9^ULGV6?9=C\?`L;P?$:WB?GKDVHS'/\_BID4K?`<7'[.UCYOBE(F;9Q
M*_)(=PR*ER*IY^<7$]R$ASM,+YI5VF3N<`^8W+/D]RI&XZM6)'%.6YYX&6',
M]#B-;D\#(\8QRSR/DIK'<3O)ML]1LVS&70JR7$<FQG4ST>B^ZSZ"5L.*-CC3
MZEKF\68%)AW#:W[6OKZOA_.N(IE=QAR#B7D-F]@]"B5G+2;/#<@8148UDCMG
M/;O[F1GZ(5XW.3$B,-UREH6EL@I'<$\/$?(;'*?$K@_(+1F+&LY7&-<S(8@M
MJ9CQEUS1IPRVA2EGU$,P$I=4"4K<"E)^$C0":^SZ0@>+'%R0E(3]8\@IV`&V
MRN0\H*AM]"C[?IT!YA>U/T?_``LOM_SOT:`]+EY(-;YA<I6B%*4@^(/$%;"`
M4M?<N1S3R[ZCJDC<DI).RO;L-AKR??9=1-5>PLNV=LFZ4>E?P\R2E=E&/P85
M>TY*E-M!L5+B_JV]'8VP.U2^Y;?8CM'7N5TU7]HQKJN1N:\J\3EW#M_2O*;V
M+TXB[K;&'9H$B$\IN-(V?84O\*6&-VR`%=4`[[G;;?7J^9\60CJ'W_<]OW/O
M_1KM8;Y]>!@I_P"4;C[H^G[VI9DU902I*.]XQT(6'2\I89:2IOJA+LG93C`6
M3L.U*B?HT!$3D7RRXYPCF_"?'Z_A<F*Y$SIF=88M'AX3F,K&[>LKI$`W5FWD
M09;@(A8TPXF2[*40RTD;$'?0$8N4L>B8?-Y`=P_R.Q[&^)O)7DI6*<J.,855
M<E95AF2WU'*B9#8T&=5LE=7B,"TJ:F0])DW\2?"CMEOY-$9T+<4!.3B7.^)G
M<`P.LP#D+%+K&7L3K++#[2)DF-2T6>$545$!S+XZFYSZIL5*HB^Y>Y2HA2B!
MU``=>!=4M@ZX::WJKI*.UR2F)/C2S!;='>RZLP7'&O3D-GU$$="%=/9H!2H4
ME24J0I*T*2%)6G\%22`4J3OU[5#J-`7:`-`&@#0!H`T`:`-`&@`>TGZ?U.@U
M+S'&./1:-H,9KEO8/<<JW':CDS'U*WW[4I#;A)61^"G8'<_1KYAGVISR8MMM
M*:^\S4C]E,2%G?F?Q#BH>59T/#G'68<NY!&=6F;#@9UE$R'B_&K\9^*4$6E?
MCLBS=80ZGL773.\@J3N/88^E$'M)RA*02H)2%$DE02`HE6W<2H#<E6W7Z=6Z
M^%F"NM`&LIM;`&L-UV@/\@_H@[@_?!U&O=M>9)7%NT]-4!J<[XVQ+,IS4^RA
MRJ^ZBMM)9R/'YEC4WS9?6ZAKU+*D4),9IA22?6DH<9Z[>[7'^S2BZ<SKZ>)G
M:)EKC[DAE26(7,V2-Q(Z4QXZ)^,X=<R_2:`2DO6CE>XY.40/W19"U>U0!Z:\
M]F84HY,HZO82[27(JHZ7Y!<I?QT9#_G,"P@H_P`Z35;[:C?)SX/VG3ECP#\@
M^5/XZ<D_YB8/_P`4ZV^6O<9>U_F0'M**PSD?M4!SA<=VQ`WP;"A\6QVW*JI0
M`W^D$:VAC7N9>]+VLP:T;'N:(0*H/)=)DP:`4\SFF#M,QXJ!^$N'*Q&?CZ"M
M/N*FEC_*G4WI7MTI>U_F9,SAYN92'/KCB:1LMH>@W5Y77+>*G$(#:9CDZU0R
M5%7M,=S?V=-]QRO2NX\.JY2IYLWM?&AEL_?YFO,LXDQ>56<;$V&9JRF7%:N,
MC5ZD##Z%UQ#ZR<8/8RBVF1^\CV:@/N"D]57T\B7RK;0>:+/YO6"OZ@XN+ZTI
M4XF+>Y*N&F*5+^34E3F,EP25NF07/IZ;^[6\,V<U155.'\`HJOB9GIW.@[=J
M7C%GV^W(<B:[O9].+'NV_J;ZW^8N/?+VLSRQ\#!\]SH>OU9QC_SGR']ZVGS-
MU;Y>TB7])Z<`_*;EZ!_8\WC:%DSPV<^:QC)XJ:UI"_P4]UQ$KIJI#>Q[QZ?9
MU&Q/73YF[QE[6<JF1')&61]H\[BK.56:-RI5?-QQR%Z16%=C5PN\C,L;(V!9
M4R%+4#L>N^L6\^YS\M953XLSL7B7_P`,5<@)1,H,YH7&S_PB]+Q6RCUU<RG<
M*;ERXSDYAYYL'JMA:T'V@G5W:[@Z:@4-;REA5TI(@9'5-2I>S=?#E2G(]HX6
MR$K6&GT!"6W`-P%==ONZS_=?#T]A@7;$^!(6E##Z'V.X!KT7D.*"]QV=Y;4O
ML`5]/LUM#NRC).2]WT\`DZB`H);]QF]J^@+;@4-7"J8C!EDAZVMW'+J^>7'"
M4I<5':]-"%*&Z4DA.PUV7?<9?RK=]GJ,^(YBW6VTDK#2AMMVN.)0CX_A"E$[
M]!O[-NOLUE]RLYWZ$$D]NFFSU(XW4W"B&^L^/\#NI=M)N</QRZGY#4-T.03Y
MN+19;5SCC*U.,T%S*F@(L:EAQ?<VPYW-MDJ[$CN5O/QK2XU(RMS7'VB;KN!>
M&J2'\ACO#7&==7J@W,-J'6X/CT>`\U=(C-V[1D1FR?DK!F,E,UE0WE-I"!U&
MF=&"Y::G>S!Q3YMY&C'OL^>"*?FG)>>;R):9_<WU-E%$QC&;M4]MB^*XUG#5
M>U>UM%0Q8#2+.#,8IV(\6/8*>5$9:(WZ#:OY8\$=R4V`\1\:<=NF?@W'^)8E
M(?:FUK=AC.*U49_Y:=/?N)Z(\R!WJCU%C:3'97H.J[FW'%=`D)`FV%2W0"CR
MN'#9PK+6FXL!/9B>5)"8X;?;"G*FP;=V4I&Z7'4;)6D=`/A]FNP(]^$PV\,>
M"`!L!QLT-O8!_9LSW>[0',^S[)_-5XOZGI-Y+]Y]HY'RD#]+0'F'W/TG_P`6
M+O\`H_3]_0'IN=[%>=N1T;2"N-+\5^.'YKB$E:%UE3R_RR[$B;H!3ZLJ2\KL
M'M5L=O9KRN:G<NTVJI/P.XRMIIJDDW2O'97V,F5'00D)6A6Q&Q^$C<$$$#<?
M0=7G;[6.L23<H]3ET556OD<<_/G>O*$4^1OU`MB/VGTVEESV(';N>_?IT&Y/
M76O)/@R*)'*K]W&&(UHXMIQIF;%AV<-;B?5M1+>0P(D)LD+ERQWC9M`*B?=K
MK9C)3U36AD6$5QL-ML(#BSZ8E%U\%+K34K9QJ%VJV4#&"ME@]4GVZE@V?UZ#
M[@3OH"%G._CGE_(GD7Q1SABV:Q<6_@ZX2\@.+U,*J7+&P%KRW55L.FRRN<`7
M'6<0E0OF5PW$@3!\*3W`#0'R=PK[&KE?'F\\B7W,V-/U^<\A\,YO?U^+X;E-
M;$MF^(\&Y#PW*)+]3-S&33#*N39691+5I<=$>#$:@J;=9==[$:`6V'?9%\A5
M\/&H-KRMB4"BCQL$EIGXAB5[29GA,7`>-YO%T;`L(MA91X2>,,D78-W=I"DP
M6GY$EM\>GN[OH"8'@EX:<M^)<OD%[/.0J3D>?E>'<1XE06-#67E4B'&X9PJ-
MAM'-O)=I:34SYV:/.JF6BQ%:`=!W3LGJ!]/6CNTV0TEC=M!]%/X+.Z1^*3\*
M/A;]@Z#H/9H"_0!H`T`:`-`&@#0!H`T!4_#L3TZ;[GH/O]?=J'?=YIJ49<OD
MP,3R"ZF?FG&N+0RV&CD2LJL7@N3\VJOQRHD^E%](#N]21*D=J0>BCT&^J.]:
MBYK3WMW$$??&-;N<<E^0W.SS;RW<MY1<XKQQUA`7$<X^X>>?H:Q5<XG?YPS,
ME?L53G'O[+CJ80A`]'J+7&A-)<R:]1DGQ].K9-<K,%-:`-`&@#I]W7>WD=*/
M+2H*[C[NNGSO@QJ&YU'N6+>1+JR:39+MR@H)-JOF'7[FN?R5GBO:;\]OBO:4
M_3_2UGY*UQ7M(3VA_B]FL2P[2BVFJF"FY_Q#43H>9G0UIBEB,Z4=B7.T>FXY
MV]C"RH!,@]WP_P!CD]X^ZG7'(Q;=RWRW&HQXO1>UF]NG/J]!D*WY>VYWN'HZ
M%K@X9Q[&J814E7HPK;(KI-E.;;61VIL'ZL(+[1V<0A22H`$:@KL^+-TA<@_)
MHE)QWM5'Q:[@H[@IZ>\;>_\`0U8XO8[$*]1JCV&>:"WKVFQU^[^E_DZF?V?#
M_JC[1SPXKVAO]S?]#3^SX?\`5'VD6]1SJFJ4*;_<_J:?V?#_`*H^TY4\2ON_
MR-5[[+861)IKEJ`._0>[_%^EJRM]KQ8KXE7S01P;"@I;H;VU/%G_`#6[:Q(@
MQ-T!O<`J*NNQVZ$^W53+M:3=6-HA+/B/`I"24TUA2A252Y,FAGRJ93X9'J*8
M>1"LO3V<2G;96PV/743)[?;A8DU)-\O'4;]=@G*[C[)HPDLTG(^4LMJ"5+:M
M'(6007$J/JUJ&'I4"O)92&PVHID2.FXUY]8-_3EC)^I_D;[-49EP^<:=86EW
M#\S:)^8[`S)PZ2T\_NP_5_6+0MXOR\=I7J-J^54%K&W<C\(:W+>9@QZ\+=Q[
MM(O?ZC>URN=)4I0U)7(.<8ZD3[SB')D0&%A,H4%I%RYYM2]^Z;NS]72GHC22
M=TALG<CX==\;O>7!5N0FO-,[N$'O7M.Y1<U<89%)5&9R6+6/1_387"R-U6.O
MPW.[O`,*W8@I0M;FZ=T..=Q'Z.KS$[G\]%]1ZQXG"\HJG*U3P':C3:R9W/0Y
M<1]U;0>D*8DL/!32/A:?_%+4`T0>BO9J9SPXKVG`S(?9<64-NMN+[NSL0M*E
M=_:E7;V@D]W:H';Z#J3:R<>$>65R"EP<E7[S(G<FAOV5)>UE8$?.V]?.K0XZ
M.P,2'H+C*EM.$;*4ZE;*`D=?401[=2%=M2^&47ZT"*7@O90I'B=Q1!;<F)7B
ME+D>"6*I:%M-2;?%\DMJ5Z2V7`D+:?FQMDJ'0J4![=;II[&@9/L^%.*\4>+%
M.[>JJ7R47-OV9Y'R@J_JZWY9<&#S%_X6)K6C!Z=\>8EQ_M`.3%N/LKKW/$GA
MP0HJ@3)8<_ACY<[U)7MV!))^GV:JGC:UIO!+VQGPH,>8N9(#+<=GO=5LH[I=
M!"`P1\,AUPG9*4$DG6]K'4;BE38P<^NM!:QC/AL2VVRD,"([`##R@@[HDI6I
MWX`HI'7VZL@76E2U<O,.6D5J0F`E$Z"A*1V)L"0`5C<`OL?A`^XC0'588#)*
M6RH,I0DJ+VQ=>>='<XM*MR>QLC;[^@-G0!OH`T`:`-`&@#0!H`T`:`-`&@#0
M!H`T!SILOTD.E2@E#"5J<5[2AMMI#[KG8-UJ;996%+4`0D>TC6EW)4TX<`13
MRK-JS$N/^6/(RV$1=7%P.[>PZ0J4/3C8_7%4*M6R>JTV>5V[O;&Z!6Z0%=H(
MU6/'ZDXSIO`N_&;`97'G`_%^)3DR&K&)BE9:Y&M;3;<N3D60R'\CO'W5)60;
M!%S.6W*5N>X[[$C5L"06@#0!H`T`:`-`&@#0!H`T!A^89*2L+!2E?ID@*.R]
M]NW;;??0&)U^.M*4+5NE;C2"DH<V7W.H`0?AZ=YZ?1UU6=W_`.$_]2^\RE5T
M&>X>4];HS#,WX:V#EV6SY;"E;`!BJ;9HTJ2-^J7%5JT@_P"4/NVU6=N7O&![
M%=7"1[.T#?7K+G[<0&N(#0!H`T`:RMH`Z7=X1S[2<S7U\V:ZE+J(T&5*]'_T
MR8[*W2U]PN!&VQ^G5!D@Y6*6S>08[4VS$?T(DVLKY4-!V3^)#SP4M*%;+2E*
MCMU`U,Q=J,BF]VYU;1QXY,>G+88,3K:74=J@"#U`()Z[$?2-MP??J#E=DMR5
M50"7GX9CET%(NZ"JLHR4K)8L(=9/2\M8V'8W(@/*9*=OP@H'8^W5;:[;#&E)
M16TR-V]P;@Z%+D4M*[B5BY(1)1+Q6[N*5IU]K=+:K2'!'U7-2VRHI1ZT5XI)
MV!2#MKLL9<`61\1Y)QMQY5#ETG(JU1)BTN9J9,V*!^&XW>0Y4=7:K\%#:FDE
M('T'59D]OE+(ZB6E$*OU&_\`PEM4#+:LYI;'$YP<<@HL)$9ZYJ%OA<:1#F(F
MQ%3"EIQ>Z1ZG;V$;';4JS!V='0/74CUP'-AXAG/DCQ$Q-4[`Q;+W^5L(>=G-
M.U;>#\M0D6#%?06)2W!JX-;DD&Q4JO[G'$NO)4=N[I,M7TIT6X':^SZ._BGQ
M<2I"C\]R0E2FMO2*G.1LH*2@I*D]J]^FQ(VU<V\A2BF8/,7V_<_^%B]O^1KE
M5_:#U)UBEH\Y^0V2PV4M>)G#ZUO$C<`<Q\N**=NI(^G6:1X@D7.JXEG(@/RU
ME]41P.PJWU0*\NRF?5"THZ%#D)OXT=WM4-AK%([@=Y#2&TM)2V\5`]5^LD(3
MT/M;]JM]8!GT`:`-`&@#0!H`T`:`-`&@#0!H`T`:`-`&MI0E&WU7\`+%.(2"
M=RI7=VAIL=[RSL"0AL?$K8'KM[-:6I*\VK>U<=`,'F4W(,IRES#,75+AU[3D
M67F>8QOB;I&43*\-XC`22-CE-9'=1.4">W?;H3KS4,ZV\J=IMUC)K9P=#.X8
M;S%IG+[C?!^#J,Q:I?(?+_%.-,U,6+'^2&,4^15>:9)6L5Q[7Y$:-58R4N*!
M_`<</N.O58T87+?-X&">CFWI[!M*DO2CVA"@T(D9I0+"4)V`4"0-P-<P9-`&
M@#0!H`T`:`-`&@#0&J[-CM=Y#J5^FE1*D;J1WI0ZYV=P![E;,JWVWVVUAM)5
M>P&A(MX\5^)&?;6T[-"U,LEMQ+SSK?85+:V04*0A*PO?NZHZ@';6T$YQYH[`
M-ZOE7"<F@9O68CE-7D%UBC5I5Y)"H+B#:S\1N&(+SJXF11X3KRZ2PBCM4IB1
MZ;P[T?#\0UYOO_<L3&PI*ZY:2CL3>\S1G1XFK$5G'V',MNOK1^3]807%A0?<
MEPF[1^4L=2'79$]>_O\`T]<.RW8Y=)V:N.FW0Q6HY6O7S:Y(QWH!KD`T`:`-
M`&B`$^_Z.OZ6ESWJT"$AD%0NSHKBK:F_+.7,*6IN4>@@^HPM.X!/L03N1]S5
M5>Q+T_A2]HW'1JXD2)'KXT<!I$5EF$VX%=K;\6"PA,7TFCL/[)>4I2@/9[]2
M+-BY;:Y@=[W:L[5WIIM;0&N-^]DS5(?A^0#]'7#'C=K)WM.&_P"X!J32/$%P
M0TKJLD'V>P^S]#6Z5GDI+60.7*KVI,@AUIMR&I!1(:/XU,P%.P3(COI+`2W[
M!MU(U4Y&-=D_TDO:"`'+6%5^$^5_!.3XJ58D[R'1<C<=7K]3Z35?*%)5PLOH
M9=Y`>=EUSHE252(:%!E+[:5;CVC4".!F*7-1>U&=VFT<O[/8-_FF\4J4$I]6
M9G:]D]ZP.[D#)3LE2T(64]>G<D'Z0-6EJW>@O>,'F&Z?=_\`%D_<]GZNI@/4
MA7.I/G9R,G8_CO$OB=`)`V3\OS!RTI95U]A"NF@)&LS4*M5U?ST?ZQ3Z-DB)
MZ0#OU8PW\@MW<@)[75G=)!ZI^[H!1:`-`&@#0!H`T`:`-`&@#0!H`T`:`-`&
M@#0%JUA`W()^]M[OTM:Y>0H8O(!N\PS&972*['Z&-'=R.[3*-3(<.Z:]B.C:
MXLK'8*6U$KXRDJ[DI6HE0V!Z[5O;<E.;4M@.AB6),8S6UT*./44W\U/?L997
M\^_8VA+MDY/CH6IB=\VM9[%*6"R".T=-1%VZ2R9W::2FW[?4;<VE-Q&7*VOR
M]\S^):%N8S.K^#>.,MSZ;4NH^=3'O^26HV&8T)DE7HNM.1Z"NLI*002E,C=)
M5[O06/T[?+L=#4F<0>QM/O203^VW]OO.L`NT`:`-`&@#0!H`T`:`QNNH9(0K
M?UE=4,@?&L$;@I._;UW]Y&@/.=]H)S9Y@X#SOY)5?#&5+IL0Q_AKQ`NW;/T;
MY_(\4EY+RW:TN:6/&N/L4,N$IZ=2K+4EMU?PMDJ<*$;J&L_@?D!,<E?:6^0\
MK">6\1@\>5T=E^DL:.^N\?C9&<Z\7<;J>8:/BR'DO*TAUJ>Q)E9!BES)RNGG
M)BL=P;4R@+;2%:Z8J3LU>VADD3X;6^1<O\;X+Y"5>!T/&N.8)"\E..<IC8G5
MM5,WE&#B&1HQ3%,AD0%L,+=1E#:%9`\_)>>DN.RNP+#;20?!?4&.\KFM+?)?
M>-Q]I,*BNUF'XG"DA(=BTM'$=4E0#8>34UT4_$LI.Q<!(W`W'W>FO0_3^$\?
M&6FQ&HJ&I"'^K:5DE/>E)04N%'JNLE9;5LM"0XT1\0&^_35QSJ4VEN,F?XO>
MA:?H[AMO][K[M;`-`&@#0!H"H]HZ;]?8/:?N#0'*EK;[DH*VHRY+_IP692T!
M4M"#^/;;2A2PKL2#W#Z-`=-">QM"2YZG;^"VII"4,_Z4H$J]GW!H"N@#0!H`
MT`:`-`0M\R8#<*KX;S5)4Q,POGOCA^-LX/1EP\PGIQVX%NM((B5Z&%CL))^+
MV@#0&[]G\%GQ1XM'H/-J:GYZCT'/3];X>0<F^'\6MQLD;>T';0'F$Z_0?_%D
M?U?H^_H#U"U3[#OGER`PV5O.#Q.XH[T(2@I0F7S!RRC\:L.'T>WM]XZ[ZC_,
MP;HM3,5S$@)M/*<S+'+5LLM,M5-M!G2$-J"U16IN]?#6KN^):5@#N]A^C76,
MINCY71DGY67)*=?A^T7>MR*&@#0!H`T`:`-`&@#0!H`T`:`-`&@#0!H#!(_<
MN[=*1ZK;!+JPTDK>6TA`03OZA/J'H/>/NZAY=GK1Y5*C`Q_'*6\IO\GY*<DH
M5!L9;E-B"W4DF)CE"\Y!FRU,;_"B;?QY*7O>ZR$#?IJKQL:6-+F<N;[`/29A
M:0I:F%EMMI@E06'%EZ2H!AE"=@5^HV>\'V!.O2J[%P7NTE0$,/'%D9KRIY,<
MY(0Z(.:<D?P>8K/0.],G&>):M[$8SL?M(`:>OK9](2GV*;))/NXM-TIL!-W6
M0&@#0!H`T`:`-`&@#0&%YHN#L2K9!ZE2AN^DGVAMS?X1O[/HT!\Y>=>=^;N/
M/*7@GA#$,$XGG8#S739_:M9EE=IEE1D6.1N-*V7?Y$XNF82[!N_D*Z:7VT*[
M6TE0V`/76L_@?D$)JH^TA\,[1Z%5/Y!<PQ>J:$9-OQ;E"JW+(DVINIT')8#]
MC4HF9'C=NWC\IF!/;;<AFR`CI6%D$],9-V'3@!#YO]IOX;O\4L2,(RS)+RKS
MG$I,O$!B_$V:RFI$F7BMCDTJ*PS'QR*N!/E8O7&>\EU*`VTTHK4!UUY+.DHY
M>JJJF35Y2^UKX&P_#+N9PO'RGF?)./,JX"Q[+\>B8GDT&&]5<Q9+C.+ULG')
MRH:(N7Y'`-RA\U5>Z^Z5-%"EI.O6=OE&>-[JIH8.QB_VM/CXK(<J0N=E-]A3
M4K$L?XSD8W@'+&5\F9GDU\,WGWV/W>+'#F%U$C%3A\X*6I1:0VTI)<)2=Z^5
M_HWFFJU!],>,.3\5YCP?'^1\&L1;X?E,!BTQZS]/Y=V9!D-I6%R(+A$J!);<
MW0MEU(4E23[?=+MW%<W4`OM=FJ`-:@-<)7U&3C38"U??W%MH-NN!KUE)]5*`
MAO;<%Q2@0D[>[6/F%P!@<DM-H)<7V**3V]GXT=Q3TZI(^$$ZD`2<:K>M+J+;
MV["&45,9#='`'J=YE.])MGZH4&RVZG<A';N/>=`+%U:D-J6D()3L3ZKH9;".
MX>HM3A0OM#;>ZO8=]MO?OH#&)"2M@]I^7D!U;4HK;2WZ"%_BGG$+6EQM#[`4
MXG<?@I/MT-)R<56*JS4CVD:4M],=QJ2EAUMI;D-PS4[K89?*B(S;CB$)2Z05
M$=H*>I&XUG2FTY=:Y_\`&_:C(B>TYWJ0674)4D(4U):470)+422MM"NP]L)Y
MT^KOL0!N/:!K!TMSE.O-%Q+F["(^AE<=]M[UXK4QE"%>JX]'?7V,OLLQ1)?7
M'7L25]H"0.NAT-AEYM]*U-K0L-OR&%!*MU(4P\MKM=00E;+I"05-J`4C?8Z`
MRZ`B5YJQTR?&WDQ,5MA4M?Y,&,22'9=Y'S3'VZN+'[E%:),914YW(V[AT`!Z
MZ`U/L_G.[Q8XP,=;90JPSWY5:4*"$L?E_DOICL4HJV]/;VG?0'F!V5](_P#%
ME;>S]=]/WM`>CVPI[RG\\N1K_#(R;%R1XE</S+/&)+:H:KNN8YEY=2ZB#.=7
MM%N$N(^%M8"%#;Z=4EG#O69N=RO+7U&]JG.B6F,YW1Y/-KC"D3?5ERK7'Y=1
M)82U,J;>D=8F62+!I1"T%DN$!U(])83\)ZZO(9N/TU93_4>GIJ6;J\>2WI5?
MVCC,JDJ`+S2&SN[W!*RK8)5LT0"-_P`8GKU]FL%29]`&@#0!H`T`:`-`&@#0
M!H`T`:`-`&@#0#;\G9NSQ_BV09$W';G3Z^I8DP8$U2ODI]O,LVJ>D@,%.ZT3
MI,V0/P`5=HW&JC(R.7*=MM;$9IH;?&^,.XE@N)4D9I(,''($6692`I^0[(;$
MZP^9220T^]82'%K`W[5*(]VK/%QXWHUEL,"<YJSUGC7BOD/.+";$J48]C%],
M@/./QVUFY^J7:7'VV%.*$=Y;UY,BL,,@A]4E?;MKJX\K<>`$=XJ8-+XUX!XQ
MQ&T0IG(:^E@2LM8<2Z5)S?(BK)[Q^05CN;1(N;%2I*O:AUOL^G6`21T`:`-`
M&@#0!H`T`:`-`&@&>S?@;!^0<_P/DS):QV7E7&U;G-1B<EF=+C(AU_(E2JCR
MB*4MR-]K&K(:4H;'8;C8ZUG\#\@0Q_\`R3_B)+P_)L'OL7RK*:O(G<?;2JXR
MR2;7"Z'%,H5F%!B>$6D2,PY1XQ5WCBG41TH4Z>Y0];XCKMB?L/R!RLS^S+\7
M,9X\SF1C6%634N-?\K\N0H_UT]Z2,PY&PES#\G980XPZU'QUK&&DQJRO;0EN
ML(*V%!9WUX[N/_*]8X&*C^R]\4\CMZ3/I]/FURF5BO%+%7'F9G*=BU)XNR&D
MS/$Y=0MR([,A.IN*>.)"E.NN.ML`)6C<C7JNU_\`%TX`;SD#['7ANPR'CR[X
M?N[GBQ-+RY#Y(Y&7&M+>QM,FJ(%1F<!G&<5EN2'W,65+E9[9KD.MD^HF2K<;
M@:K,K]]>8/J#Q)Q=B?#&!8MQC@]:Y3XI@]!68SCE6^X')42EJVE(B?.+'63,
MD.K<<<?5\;BE=?8-3<;8!S#J9/<"FM`:;\P1TN*6VI:4*2-V]U=B"`5+=WV[
M=M_TM0+O[C\P);\H)=O:/5^-MA53">(N[-UI(<DK5T5%A(.QD,1SN'E)W[1[
M-:+:8%>F.PWMZ*$HZ=2DE:%?YCN`/8?=]S5DMADM6RI;C+JGE]S"0AO8`;-^
M]'W01H"LIY<:.\^V"I3+:G.T*""I*1NXE*E(=`4IO<#X3U]V@/.+Y;\A^5-3
MSUY`(P?)+T<7PO+KP$H4PX-/FCF3/44I"I^:P<)L:HL5[N*B*OT[4GM0\]NP
ML@*T.UAVXSK<^&@GL?\`M//,K-,MR7$Z3%,49^?Y*XVJL(R>QXMSE=GA.(\@
M9CF^/W,#/\/CK9?K\FQ>IQ,3%L.N..(C/MK=[4NHWS4E<^'H^'V_:-;9>:GE
MIGV7\?6N5#((D"ZR+P?R/'\$K,2RO&*R#6V6=<@4G(.>E^I;3(<ARG<?AR+2
MEG*V29"4N`([2<$?(E9E3H[-X[]=]IGYF?P>0SR!CO'V-W]_<\7R9W)UMQQD
MT/"^*J?.XW*$Z7BN48\Y)1=9%-FVN"1:V,JO<2N(F4''4['0CGV=\&>;LE\B
M?$C@GG'+ZZKK<IY.P:ORK(8U*RN-4*N9ZG#92J^.[N_&8ERTK<])PE;:E%/N
MT!+9"NY(5[-]_P"H2-`0N\R%6,ZIXDPR$VLJS?G?C1EJ4DI$&J9QBQ.662KY
M'<'%1+QJ`J,CTP3[SH#?^S]<83XK\6)8[]Q89ZGL6E*.W;D')AV[)Z?#[-`>
M83N/_P!%E=WZ.@/4/2]RO.#/V>]89G^+7&#]@TH^LF8[$Y;Y<;8<=+WJ.-E#
M;A&S:D`C[NNN?>?0Y8QBEMV4W>!LGRNJW"TY&P2TFY'C^0X0\]4Y-&B7S*[%
M]+<.OM(%7%KY$>JNUA2NV`^XGTP\!ZP2=RI6VOG>1=S(92OVM91>G!^>IW61
M<Z;MZ.+.MAO*,RY9;@YK7M8IF,018US%]=7U"BT:*T*@Q+"5Z25B5&[74*[B
M![#J^P^[9$W_`+M1CY)_FR./)'EM..J:4L#M2E2%%*@B0%#<JC.H#C+J$^\A
M6K?(SL7HUQ76]5:/73[#!N%39_`WWWZ]3[/T0-9QK[N-=6GJ!;JR<<=+1NOI
MX`-<9<O\H#7-5W@-9`:`-`&@#0!H`T`:`KK>*CRMR!C/JE0*>T-(4VX\5`D_
M+I*OF"C8C9:$]I'M]NH5[(Z;]VE`,=DC;&<9YC>+2FVY,+$G&<RR!M0WKW;-
MSYB)B=9(;)45RVI"!);Z[(<`401TU4.W#(R7?E\3ILV:&=VFP>Z(MQ49I:EN
M[OI,@I=V2\W\R2_Z+P2>T.L^IVJVV&X]@UZ/%NNW%))4,>)"GR?97R9GG"OC
MRAI@U.6Y5_"KR5$4J*ZJ5QYQ)8,6C%>F"ZTXN0B[S)R$IUQHMNMJ4"20-)NL
MV_$$T6F'&TK=,AP.//..2D-%LQWENJ*WVQNA2S'6ZHD?%W;'VZU!MZ`-`&@#
M0!H`T`:`-`&@#0%O:K_TCG[8?J:<JE[KV,%B6@ASU`MPJ)W5NK\/[BM@"0='
M-X]MPAL\0<7+P'\6R%E7PI<J)J5E!()3Z"RI/4D=JP-CT]AUX_O$G;C\Q'X^
M9>0$SQ<P$8#A:`X[VJQ''^G</A]."VO=/P]"M3YW^G8:]%V:_.>*JTV`72X;
M+I1ZH#P;45)2\AEY(5MMW`.M+[5=?:-CK>5B%VZW*NAFM#<[E=B&RHJ#>X25
M;;@';X=P`.U.W0>[4B$%!453!371NH,"U.*=:CM%M"W%I47'`2VAA._JE7Q)
M^+;V'?IK`-;N+SG>2$L[NM'TALF2WWJ2"]OOW_".FVVN4K,)/F=:@R-0H;?R
MRV&4LJB%2H;C8"51TND%]"`!VK0_M\?<%$[^W6JL0\0;I.Y)V`W).PZ`;^X#
MZ-=P4UO;BIS47L8-::5B,\6W4,K"4]KJW7&$(5WIV*WFE)<;3[MP1[?HU%R[
MDK%Q1A2E=X/CSROYQ<NX1S9S17U^!<43N'^`.3^$>-<YG6-C?+Y*^K^<)<5#
M641V#4/U"95%;6D3T:M3STB5%#KB%#=*1,C&/1ZC^-O8:SCSJC;2\!"O_:_<
M/8QQ'D%_D^,Y1D^?5O&6:\E6M%@F)9)5T#D/'LNNL2;JJO*+IFCDW,B5(K"[
MZ\5"I8:V"@0V"OD<?EU_5/VCC7'VGW&BI^+SS&=P/"XG+V2\6\R6^:XK>08U
M'=X=PQ-Y$S6DQ2=%@2U6;^)V$J.T_(D?)M..)`0GO4GN'2W;5NM&VGQ=3%<\
M]<,>8?*/#_BCF_CKSI'K>6<(SGGNFR3*ZN?@**G'\"G1VJ=+]I76[%@]!Y#J
M[Q*J^5$EI;")02M+;P6$CH?57`L&QSCK#L?P+$ZAFAQ;#X#>.XY3QV5,-5U-
M5[Q(,1`<=D/NML,MA*'777774`+6M2B20%DD!(`'L'_QZ`ACY0(F6G)_BEC-
M<ZU]8*YCLLFBI4I0>,/'L"M)-EM\89<;2+`_"M*@G9/O&Y`Z'@`6W?%KBX(;
M"$?66?A/_I"D<A9/VEQ7L4O8=2``3H#S`=H^[_XLOM_0_5T!ZBZI3*?.OD-"
M>@9\3>)%-@D_"N5S%RTA[?<G<*`]_L]VD_UHT>P$H9\%IUQ8EN!'S"FDN--D
ME"@CTDAM&QW:2L-)"NW;N]^^HB[5"<^9[?3Q";W'&O:&DNF%QKJLCVT9QYUY
M;4IH25*>D-MLJ<3W]?40A"0@[_!M\.VHF=VF<U2UM]/$5XC86O'>98S&BIXQ
MSV1C$:*I;[^,9-52,WK)X7U+21*LHMS$Z'X$Q9`4E6VS3GX!I\3M.3C93NW7
M^FT_3:9V>1:QRAD^/GT,\PJ=`^6:)F9-C@=ML83VA!]2?"#*LBI0KNW+3S)>
M&Q[4J2"H3+U]V%04'/H<NJ<FCF=2646R@AM#AF0$F;$25$_"\W'=7(A[;$;.
MJ2YO[4)VU`?=IUI5^GJ%-*BJ:<]5`7V_"?P7$D%IT=>K23^,2![^[KKT/;KS
MO[=A@OU:75RRIX`-<P&@#0!H`T`:`-`&@,:E!*V0I80AQU*'%';9ML@DN$GH
M`"`/T=1LBZ[:T>C`S^=\L5V'V$2&\W;2U%B9.M(-/1NVDJNJ65J94MY],EIE
MM%BXPE/Q)*VTDJ21N->>R<FNAE4H8N*8[%A7RKVS>"\@S.SDY)>&#V%58W#"
M&JBCD-!Y],61&KTH_![2%JW]O777!ES1YC`\Z$A/<0A3?J+<>[%J[E)+ZU/$
M*/T[K_0UZ*QL0(88G6)O_,KGG.)2DOQ.->.^*^-Z;NCO.3JV7=HOLURZ-1NI
M6&_3R%JSK$R_:I(B#;;KOTEM8)HE!1NTH`=JB"E(V2%`[$)`]B0?8/HU@!H`
MT`:`-`&@#0!H`T`:`-`&MH_$@5`W4!]W7*_\+&X1?(M@:K#,HF`=&*68H]`>
MWN94@KZ@]$=VY^X->1[WKC_^M#<4X\AKK<-Q6ND*#TB'C=3'4^D!*5DQT/-`
M)3LD>G"*$GIUVW/4G5[V/_C+R#%I_DZGQ_<EZ;V`UU`:`1F2O6DJ0W0U2%>O
M8M)?>E[`(BU\56\V.%[;^K-!Z*![D[=-`*MEB.F-'9:W6PAEM+?<5=R4A`^!
M1)[E*1["3U.W70&=*0E(2GV)``Z[]!]T]=`5T`:ZV/W8^8->6TA^-(9<!+;S
M+C+@2HI*FW4*0XGN20H=R%$=-5_<?W5Y@B+D7@WXUYYRE:\S91A^0V&97>1X
M7EU_#1R%G$/!\BR;CZ"_5X?=Y!Q[#O6<.N)U+`?+:%2(B^Y*4]VY0DBRC7Y7
M=2J"V#:2_LJ_!6PAU-;8\.3K&KH\9R'%:FKG<B\A2JV%!RF?865Y9M0GLD4P
M,GF3+-Y8L]OG&]P$+`2G;@!9H^SJ\016M53_`!=+L8B.1LPY:?\`K;-LTM9%
MGR#R!@[G'&:9#<R9UX\];NY)AKIB269!6PLA+O8'4A8`ZW&W@7XR\395QSF^
M&8KE[>5\4UN2TF%W=_RIR/E<J)0Y4S%CV./V?Y19+8M7U##8@L(KX<Q+S%<E
ME'RZ6]M`3!0@-I"05JV"4]SBU..*"$I0GO<62M9"4@;DZ`OT!#'R;$>GYL\.
M<NGK[8L'.>1<<#K:RUZ4W*\&>CP@Z&RD.$M0'`.[?0&[]GVRN/XM\71W%=ZV
M++D!I:_V2F^0LH0I7^>(WT!YA/\`"S-`>FAFNL)WG7R"[77CT=R1XH<9-RH\
M%FIE_*(8Y>Y8+2MI)0M!1[1[P=<_E,B&JG))^G`5J2[K*]Z-"89=F+F.(6E2
MILY7=(=`4"4[D=2==59S+;K*<^5>G`'46VDI40VA2DI*OC)2.U(W601U"P@$
MI_RP&M^K<6]@1F-VGS$ZRIK&69DM+GS\)4V(65R:EP[,LJ#Z2),Z(Y\2E)&Z
M4C?43,E=G9Y5)[0*R1%;<2G9OXT_"E8*BXA!![DH<W]1"3]PCIJEEB]3X]1X
MC=7/&6/V$D6=>N1B-XDJ<:N<>28"''B!\=G"AEN-//<-^Y;:EDD[DZD8G:\)
MJ4KMJ$GNJM@.2QD^5X=):K<UCO2*N2ZDLYZVAI<5IEO\7O;1#VECU%*&Q.PV
MWU*G&.._]NN3R`ZL><S*:2[%>3*CO[.QIS+C3D>:RI*=I$7TBM*&%$$!.^X(
M.I>+DQG9K??-<J]7P#T-YL*"`%DE6Y.Y]O4[CW>X:ZR:G\`,FL;-H#0!H`T`
M:`-`&@.%?RV84,O2%AJ*3V3'7-@RW%4I)*G%E22C=X('3W$ZYWU9Z$I7$N=;
M&<TY?,QCKR4UX'R5Y;YRY38OGLTX[GT<.<*AS)>2X$IR':?5G&UW,K*C`:;Y
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M$U6T%MMMM7:5-MH0KL_`W0D)/9U)[-QTZGIK8%^@#0!H`T`:`-`&@#0!H`T`
M#6]NG45=E0O$PR7"S&?=&X4VTLH(2I>SFVR"4(25J'>1N`"=M9SW;A#W:)F6
MG+X41$Y!Y0OLAQ[,JJ#C-PY5J5/HV<@KTM65++@5TRMJ,HFR&VBJ9']6?)D(
M@@)W[6%>X';P/=LF$85N:P4EIN.^)9<LA=2KMT>CV$C,+NZ6^JX$O'Y\*SJ4
M1%(A2H7JAI,>#Z54F.XEP;";'5'*'03N-MM>F[)FXKQE[JV>F\ZY%N$*J*%M
MJSZUF[-]))4].)!WE-9,FN^MY)"64=ZCLLC]BVT>]P^_VI&QT!D"6W`74K#K
M<A?S#7L/I)/1+*5#KVME)Z?=T!D``]G3_)ZZ`-`&@#64W%U6T%"`000"#[0=
M:3C&XZS56"B4)0"$)"0?;MK=2:CR+X07:P`T`:`-`&@(_P#D/QB.4L+5"KY,
M:KS#"[JJSOC^^EL+DUU!E=<TJ.Q*NHR%`V=5/BR7X\AI)_%LN[GV@Z`;3[/*
M<Y(\2N)9,IOTY;PS.3*2I'IJ$IW.<C7(^`[%'XU1Z>[0'F)[ONG_`,61W>_]
M/[^@/4;62T_GW\DGM/<?$OAX$^\]W,?+87UWW(4-8_N,$E#2B?Y_F*$LR$JV
M!`(!W`(!`(Z[CIT.^MUW*-SW$]7H#&^@.,K0I:&PH`%;AV0G8@@J/T;C]/6H
M.=8Q0A4>=$AL65S&2I-:^N4"4/NI]/M2X^3V-N()"AOLI/36'%2T>H-F(\5_
M""V^CL"G9+<QM\-S3L)<7L1L>UMSH/<-MM8Z"X"IO;$'?J%#V'WC[Q]HUTC#
MDBS!S+:%'LXDB).CPIL62RIIQFSCEZ"@JW[I$MY8+(;[#VA*]P5$'W:@9*,C
M'(QZXXL0[(Q5BTN\1E2%R[G#5V$95OCC2-BJRQ60H%(KF0/5=AJ/XY"@EL`[
M[^7O9<K.7TM>4S3V#LXW>P\DKV;EF07&):G"RXVLA#C:'2AMQ4<?%"<<`^*.
MO\8T?A5UUZWMDNK!<VTP*KX?UAW3^M.^Y/\`DZE35)M>(#6H#0!H`T`:`-`-
M3S#16.1X@_4U<A,=^3)B+F%Z4F+#=IX<R-.M&)KO1Z/'?CQNPO-[*02!O\6J
M?NU^5J'*MC1M:2ZT6]A$JWCX+R=!QD4>.7N,9%>WE5)8KY#%G2KR%^H1V1G7
MUL5[L>YI(U,))C+?>"3Z84!OU/C\6VK^1[U:U+[)RYVK#2?NT)]54&'`KXT*
M&RTU&C1VHC32&VD)3%CLMQXS:@V2D_V(TWOOL?I&O78&+&&8E3@>>5SJ^^]:
MD=_+K*W,/\>>4K*O2E61VE+'PW&&)!BM.S+K*93%!50J\J'J/`/6"I"4*W`^
M67L.IUZ;)LIK=1HV>P<_BG"CQSQO@/'K2GY%?A6'T.-194T(7,D-UU5'B//R
M%)W27'U)5OMT*3M[-0DJ*A@<D`````````=``!L`![@!K(*Z`-`&@#0!H`T`
M:`-`&@#0%0GO(1OL5$)!^@JZ`_H;Z)TU6TQ+2+&GY4S%6'8;<9'"<)D1:![Z
ML2LRE-KO[A]=16AQ$3>2XVS)`<[4`JZ;@:J>XY$DFWXDKM\%>FE73TT/G-@>
M1R++(:21A5AFE)->H[N@H?R;N6Y^.9(^Q<F*UD&=&PB"MA6=UFEQ*EL1&@AU
M,)2=R4@C7A,NN9/HK8VCUMS!C:Q'=E3FXK2B?IM/IIQ_C$##\>J<?KVFDQH+
M4C=V.^)/S4R2OYF7:RW6"&`NU?6XH`C<J&_MU[?LG:FL9:Z4/,9+K5K8+W_$
M=6T<1XTVWO*_>4UT,B'S.SN8*J*'CZVFK:WO*Z"W)?2%QXD(NK59*?03LH2(
MWP)W!V5UT`L8S:6V$(::4Q'!<^6:62IQ#(=6`'"=R5%P*/7]:1H#/H`T`:`-
M`&@#0!H`T`:`-`&@-"Q;;7`F][:%_P!C36_B0E7XM]F.E]'4'X'DI`6/8H#K
MOH"(7V?I*O%;C!2B5*5-Y+[E*ZJ5MR/E('<3U.P]F@/,/_A8F@/2WAUA.?\`
MM`.<DR%$UU=XL\)P:Z5MN^WZ_+W+3A*F_P`)+2B20K;8@>W5/V;-MW)N+V*3
M0\B=)_4_R=6V3%2OQDEI4!K8!_Y/9]S0''NHT]^%M5KC(E-O)>#$EO>/-2A*
M^Z(X$[=BW=P4+/1#@23[-`4H[)5I"#JH\N$MA7RLB%8I6;&+*;W]1N;)4/2G
M+((*76R4%&PWWWT!V?:"#[#[1[C]\:`T9C/JCL"D,.J3ZC$D0T25]\?XBTM1
M((0H*Z`ZK,JPIW>:FXEV:\FG$:7(\*M*Z>[?8+;/4\UT,R;&H4EY%#>2'D)<
M<BN06`1&OY*OW&5^YM).RNNN"QGN.E==F^AEQ?DIF=81<4R3')V&YBDN.Q*.
MR?3\M9$CL?52WR.U$^4A`[U)25+!/4`:UL1E"\^;8F0I_$_,>!`2?A0HK+7I
MI6%.^LZGN`*/6<!)4XL==S^%[=>ML9%IVEJMAA.A>.OLZ_>ZZKF8#0!H`T!:
MI:$#=:T(!(`*U)0"3T`!40-S]&@&EYIMG:_"W(U=Z:[K(;2MQ>E`;4^M,VZE
MM196R6PI0[:Q3VXVU79E'=CY?B90M::HIZVD@5$%MM4.A"J>O4TWU3#@D-,J
M!^([+!5LH'8@]"1J3CQ26XQN%"$M,MH[&F_244I"W5AO=U0/XOXU)W7TZ#VD
M:ES^(P0UY[9@9YSWXY\6A,=2:.YO.<\M0(:)@%!Q_5NU]1"D=BU;+GY%=L^A
MW@>IV*[=^T[:&29K:W'&VUO;>JM"%N;(]/XU)"E'T_UA)/L]WLT!?H`T`:`-
M`&@#0!H`T`:`-`&@*$;@C9!W!&SG[F01L0Y_]+/Z[[FMH.DDS#ER+GX$<><8
MDEJCA9(TW76U?B5FG(KVLMI2JVLOERJ:730(<.0&W7*]<!Y:$M+]-925;A).
MO'?4<7<N/EU1VQ>Y<KK%:T$+QW@+\_+:7(9/%CO&"V<9KI]I%:G?/U,NP@-O
M0,?IJV57N,194?'6)4PMJ>9[G$OA7M`.O-+MUR5BK3HY+[RPR<YY&/R2UEQ)
M?1&_10V0-C(1NH`;=I;Z`$>[VZ^A=CQ9VK";KL*I[#;U8<_-<:]-X+5*2GJI
M24CZ5$)'Z9(&M@<F3$9EV,:8H=[U>R6:MP;+;9F6SBHDMU93N.U,-H=3T'MT
M!U6W6WT^LTE2$+4H!*P4J'I'T#ND@$=Q:W'T@[Z`OT`:`-`&@#0!H`T`:`-`
M&@#0&C*_UO,_TM__`'.QH"(/V?O]RMQA_L[DS^V1E.@/,/\`X6)H#TM882?M
M".:ED[(D>*'C\J1&._>EM'*'-:0XH?L?Q"OVIU\Q^E\NY=RYI5:YY?>/(G7K
MZA/8G+:"FM0&@#0%JW$HV[U[#V#<_1[AH#%\S'[@CUVN]0)2WWCU%)'0J"/P
MRA/O.VPT!L#H/:"%`$%*DJ2H>X@I)!&L\J>KI4DVI14*-T97?[_T?XNNL<D>
M*.G4AQ0BLDQ&GREJ9&NH*I#+B6S'F-]R9,*6PHKB2:GL<$F#81G=E+DH*6W1
M\*@1OJMNV;BFY03>I%E1MB/8N<CPDI9RMUV_PZ*CTQF$Q*)-U&M2#V2KBO@)
M'_!L4@CNZ[`:X\V7"7P2Y%O]&:#D5-O%L([,N%+CS8DEE$EF5%<0['?86>T.
MMK02""I7X/X2?>-3(9^%/X+L&_,S1G7]9G="?5;[G2L-@+![RV=EA.VX)3[]
M2(W;<_@DF8,FN@#6:-@QK4ALI><*>V.ER04N-^HV?205`K_8I0>NXZZT<HQ^
M)T`R]\MN_P"3L7I0^MQW$OF\NM0$=D;Y^VKG(M$4'H-XB"](.Y&R&C[_`&UN
M5.$[T>1IT7X@>"/\I&2W':>:)(;]%*2$NK9/XMC:/^[=O<E0"BG8G?KT.IN/
M\(W&*=(1Z2T>J%-/QVBTA;23VRG)XB>NTIWM2'([`<41OOLDG4J?Q`AUXYM2
M.1^<?(KFYZ.I6.KO('"W&SCZ$EQ['.."M607D1X$MOP+K*GWD-*;W"C$5]&M
M`36#H?2AX;(#Y)0E:@E2E#?O`2HA14DCJ/=[]`4!"N_M/=Z>X7MO\/:$%1]G
M5*0XG<C<==`6J<;2A3I=;+:#LM:'$.!"OV*O3*B%'W#VG6G4AQ0*I<;4HH2Z
MTI04A!2EQ"E=ZSLAO8*)]0G];^$/HUE3@W1-5!C3(964!+B27$-N('4%2'@Z
MII0!`("TL+(W_8G6P,V@#0!H`T`:`-`&@`J*05!'JE(*@W_Z0CJ&_P#/GI^C
MK$I*$7*6D4ARJ?NRV,87/&T9-D_&^'?,(D(<R2-EU]'`_$RL>Q2(\T6I2#_]
MB3,EF,,@GVK1KS&6X95Q=.DE7<=[.+BPC5RBF/7':5VL`AUI2"77$+&S20E/
MHML->X=B2-ON#5W8[?;6(F]M42LB.-&W)6Y1;325-KXO9L.A_B_JZNK71MV>
M2+5:%:4U66;=UWINCY3)A=]$?C%I"W6TJ4TAS]PV4I""7?N=ZD@?=.NTO<^/
M0')II\>7]9%E8!8L7HDA"3^+;E,)2A]E`V&WI*Z*'TZPI*6L75`[84%=0=_N
MZR"N@#0!H`T`:`-`&@#0!H`T`:`T97^MYG^EO_[G8T!$'[/W^Y6XP_V=R9_;
M(RG0'F'_`,+$T!Z6\-2?_P`HAS:UL0O\T+Q\/W/QW*W/3*`%>PGU'T@_1OUU
M\^[-V^6!DRDUHYM^UF==A.K7T.'ZUOJ+<C4IK4R&@#0&-;8<`!]Q^@'0"=N\
M:9N$I6U*D5ME&97]76T1*`_#=*TJZ_$/F6%$`J86/27[R-`="EB2X,-B'83!
M9V/9ZDJP;AB$F8Z=D^LJ&SW1(:RE(!;;)1TW]^@.M]\$?<4"#^D?=H`T!A4R
MRXD(>C,O^JLA[UDAQ@-;G;N9._>>W[AUK-5@X\4U]@&&MJ2\P66Y=8-4&RI9
M\M4K*,+B/"#%,>./55=4?J*]2NO2D'OCQ@IJ0!V[;J&O+6NWRM/79Z>)E.@Y
MV,9-3WT:-(IYT:;6V1^9KVTQV428\H$&QB%!(>2Y7+5M(Z;L'\+;5OBRI-0`
MKPH$D;*'T$H4$J]_PJ("5'[QU:&"_6\=C\@:TI;+;+JI"BAE+3KCB@"=PRA3
MWID#KVN>GL?N:A9&P#$X+):OV,CSAUI"WLYNI#=;&?0ZA<BAK"8E7&*$@2X\
M9ZV0EL`)[ED@#\(;U,-;S,[3XJ6WVH_DJYYT^0/CP>->*,4I\!K<^K<)PG+K
MBSJ^9[>OQ'`;/+,6YVI)-TJ)A/+O%^9R*Q^.[64<D6=6Q(2ZZ^V=D)N;"]TP
M<W'?MO<"S+PXR7-<GQ;DWBGFYKQSQWE&(J%QKDS6!Y`YEF7-<7U.0<42+N[O
M+?(ZG#LKEIA/QGAZ[DE)4E2FE)7J3-48)6>+_P!H9XSQX?#'CS28/S/QUEDG
MD6A\?_X..6N.G\&SS&\OL,-7F-1D>45S]M*$/&^08$>190;1MYUR8723VIZ#
M4%,C^VH\5J:C@7-?B7D'GLN;C'+&>9#58)QC/O\`(N-N/>$LEL,/RC.\[IZ^
MS6NCK[*_JWF(7H((DE!4\$(!4`%W$^U/\8Y>(WF;H;Y-338MR#X]<?6RG<,?
M1)BY!Y$5N/76%HE08T]\M5,NKLF%SDM=_P`NI14KM00K6)?"P,U-^W'\1HT+
MFF3/QGGR/=<,7G'E-D&`KXM779?DC?+5]*Q?`[7#,=CY&T<BK+Z\AN1DEYQJ
M0AS9*NPD'5<*BX5]L)XP2L/Q6VAX%Y'V_(.5YKG."6'CY3<1VO\`#?AEAQ5!
MBWG(-CE'%S=BX_0,8G02$294H2GW0TH`=Q4!KK9^-(5TH3U\6?(_!?*_A+C/
MGSC5F="P?E+&)N2XU$NZ^12WKM7'O'ZMEVQJ)?K2HC\3T.Q3;BTK2IT[CH=I
MH)&Z`-`&@#0!H`T`:`HK;M5W$I3VJ[E)!*DC;JH)&Y)2.H`ZG4?+_P"+<_T,
M#'8FEV\Y6SC(7FP6,?C4^$5B$J04,,A!N[-Y"@>JWIZ&^X#KN>OLUYC`^*)E
MZ#Y?XOZNO9V_^*O,P&N8#4O&^&7J!A6VA2TJ4A2SZ:F^B@D`>HV\.X'V[N,I
MU#SMOJ`FJFHD5<_(BMP.Q[2V%M$`V'I_-16OFV^W?<=LL*'7V^T:XV/@]8%,
MS^!]Y1!^^-=P9=`&@#0!H`T`:`-`&@#0!H`T!HRO];S/]+?_`-SL:`B#]G[_
M`'*W&'^SN3/[9&4Z`\P_^%B:`]1=1'C1_.WD5]A&TV7XG\7IDJ(V26H/+W+"
MJ\)4.I*5+5OTZ;]-0,W$=UUQZ4\=`B7/^+_'U8X;Z&,[5SXVMP#6H#0!H`T`
M:`T+5^-#KY$V6IQ#,2/)EN*8=[7O2B->L\0V=@4I0/;O[=:N<4^5O4&:(_\`
M,QF)`W+;S2'&EE7?ZC*TA;3@5L-PML@ZD0L2FJIQ]H-G7*47&3B]J`:+:@6*
MW((])H[@@=W=L>GO[0%;?3L0=;YJLQAHG7R,C8W.,R*><YDF'-PX]JZMMZWJ
MG`8==?%C]Q2XXPVX8*T`D?BD?C=_QO=KRUS-MXMWK7%)VX[4E5^HQY"DH,BK
M;ECL2)$6?5K'UI5S'FV7ZF4[NVXIYM;H2Y!(4>QT**3T]_35EB]VQ<MTMJXO
M]2I^(%8D[J2@`DN*V04[.(4V>B7_`%&RML-*]VYW^YJXY.6#G5<M#:,'-T5*
MC4<S7TZGPB?'J(\A^VO;*LQ2N,5ER0^)EY+1#]2.RP%ON!IM2E+4E)]-`*CT
M!.J/)S['/T_>YO+^)TZ$_`VJR7155+"I8*HTWZCC1J>(B*Y%<5:(BQ&I4?U)
M/K(:AIFVP5VJ4M)6X$HZ.*2-<XVI<W4TY322Y=O`^2^7_9L^-&:^2_Y:W/E3
MG632Z2XR[EK$O'')<UP^35X%R?R=B-OCN1\CXDW8Q6^283-I'N9<R#5_,*I(
M,IM#OH>FCMU8VKD81HZFA2?]EMXN9AQWAV%/\M9=<TV.>**/%3#9=5:XU.D(
MK6N16^2J7E)NQBJ566>;X_EU,GNF=_U;\TR4J/J++8E<ZN>\M@,X^R$P^?21
MKI7DCY$O>18Y;QWFH>4DFVPI7*EA98_A\W`,9QAJHD1?R<;QC',7N'O1;$=I
M2S*4X=G/AT!"'R#^Q4\@:'#<$P/PTY&*5HXIY5XIY'Y=Y$YDO,'S3-<!Y)SV
MVRFVI,PH,7PZ[Q_)V:^[OY5G&?BBLG/=Y@2'EQEDZ`EY:_8?<?Y(K&X-GY&<
M[4>%.0^()_(/&V"VU#C&%97G?"V"0<(Q[.(Q;KG<EQN?=0H+:G6X$MM,4MI[
M"=M8>P'&XP^PAXJXX7;2!SAR[>VEU:\'S;'(;`X:QD,R/P/R#9\AX5$<FUM'
M";>2T;)=582I:9=C:M*^8??4KX#$Z$_`:!Y2?9:\T&:[GGA[ED*OY=MN>.6>
M87LMR?DNVXN:Q*OYBQNIH,XP>HB8OC>0Q+S$LA%6AQQN2TB8TZ"KU5`A(WMV
M91GS.E`?1[P)\9L@\1O%/@W@')+VOR&\XTPEBEOK:ID3':V?=S9D^[NWHHF(
M:7*;%O9N)1+<0)+[:$E>P.VI()FZ`-`&@#0!H`T`:ZV[,KJK&@+2\AEMN2LI
M2V$K?^,@!*6`7%>I^Q&R=5G<\B&+8G"Y6O(]@V:C.\+1U_D<+9X+,B]N;7)5
MNN`!V0BZN)<6-N3N5(9B-=/H&VJ3L]B>4U*U1+Q,_>/)_B_JZ]B[4K5CDE2M
M=Q@-1P&N]FY&VFI5U!0J"1W+(2VD$K<5T0VG]DL^T)W/T:CY/ZKK$&OW)=<<
M*""IG9M;6_XWXP'$+"/_`$:D'<'IKG:@X1HP96DE((4-B5J5M]P_3]W74&30
M!H`T`:`-`&@#0!H`T`:`-`:,K_6\S_2W_P#<[&@(B_9^-J_-8XP3TW^L.2$^
MWIN[R-E*D_H;>W0'F%[%?_18_9_GM`>HBO=2CSISM]:7&FW/%'C!"')"4QVN
MO*W+,ATJ=<6$H+">T$'J2L:`E_Z1^A?[0?U^@#TC]"_V@_K]`'I'Z%_M!_7Z
M`/2/T+_:#^OT`>D?H7^T']?H#$X"C;9).^_M*$?Z)?70"*SJ6AC%\A]6,\L*
MHYK?J-J:4D"4MJ&J*-G0?F)8D?![AV'?7GNX7+T<RD*\M$9W5%%6)3'KXL3;
MTD0V6H;+;BD)<;9C--M-(6"OJM*!L3["=3,:[E4W[/3>-YUDH[DA0[B#["`E
M0_0(7L=6B;:3E\1@N],_0O\`:#^OUE::@Q[@G;9SV_L4?ZKK,EU]'J#"Y$43
MWAQQ';UW0V@JVZ;]H6YV[D=.NHW]MLSE^HE1^G`RMHUF9X#+M'ORBQ6T./97
M`0F/6R3"$^MD5+*TR&:.ZKTN]\^"Y,0E:U[^HG;I[-<[W;[>-'GL);`:=1R#
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M0HF.TUIC#[T^$V_(K9,R6&I#)*3UF6?VT#TR_9L<@<M>07`UEY*\I6M\W1>1
MF:9'GW$''MY'BP7^/."4QJZIP>EE+27;5V99II%6LE\K/>_./;LG8#J#Z,V+
M4V3&++,EB.\4-M][Z@5AOYE#[B7/36@E2D)V]@W/MT!V@WOUV5UZ]$IV_0^/
MV:`/2/T+_:#^OT`>D?H7^T']?H`](_0O]H/Z_0!Z1^A?[0?U^@#TC]"_V@_K
M]`'I'Z%_M!_7Z`/2/T+_`&@_K]`'I'Z%_M!_7Z`/2/T+_:#^OT!@*T`D%2>A
M(ZK;!Z'WCOZ'4W#:477B!O\`DJY%%@V3V:FY"O1J'TLQV0V'@_/:7%9CI47>
MWU2XX.OLUYSOJZDG%[U0&_A<)RGQK&*MUA7=65%16*V2A`0EN@,UQUP*<]@E
M2-M_:%`Z[=CL=&VFC/@+)*DJ4$A223[DJ;4=^I]@7N=3[V2Y9'16PP7K2$)[
MCN!OMNKM2/TRO;606H(62$J;Z#?JZT/\=>@-"UF1:N(]83=UPHS+B[`(4VZV
MB!M^-=6VE?<XI+O8$I'4[Z`X.*-V7R<BXLT*3<6TI4HMJ6A++->E"6:OL;4X
M5(+L!*%$'V$Z`5@65;J6E7<3NKM]-0WZ>PAT;:`RI1W`$!?7_*I^][G"-`5]
M(_0O]H/Z_0!Z1^A?[0?U^@#TC]"_V@_K]`'I'Z%_M!_7Z`/2/T+_`&@_K]`'
MI'Z%_M!_7Z`/2/T+_:#^OT`>D?H7^T']?H`](_0O]H/Z_0!Z1^A?[0?U^@.5
M/466I@<;<"5)4EM>R-EI7$0XZYMZFX1'#6RO?N1H"(WV?,EMSQ8XF=;!6U+E
MYO)97N!NW)Y`RU9"T>U"V$M@K!_9C0'F(]0?_19'J>T>S0'J:S3Q)PK,.4;[
MEM.?\SXAE>04%7BD].`<F7^&59Q^HM;"VCP$0J!Z$-S(L7"5E1.YWVT!K?FE
M4_\`'YY8_P!(;/?]_:`/S2J?^/SRQ_I#9[_O[0!^:53_`,?GEC_2&SW_`']H
M`_-*I_X_/+'^D-GO^_M`'YI5/_'YY8_TAL]_W]H#&OQ(JU;=GD#Y:-?2$^0N
M<G?[_?,5[-`<V=X:T=DRN--\@/+*1&=7'6ZTOR#SK\9\JM;C*2I,Y("4NJ[O
M9UVUSE:A*?/)58-U'B'5)0D*\@O+4JVW<4GR$SA(6X?PG.TRU=I5]&YU)A.W
M!4Y$_6/O-A/B34``?P^^62MAMN?(;/-S]_::!_4USDU*3:T0*_FE4_\`'YY8
M_P!(;/?]_:P#`/$2GWW_`(?O+'V[_P!T+GOT[_\`R_K:R^EX@R'Q(IR"/X?/
M+#J"-_SAL]]X_P!GZDRR8N+4;:4N-7H9J:SOB!4N-J;3Y!>6K)5L"MKR&SQ*
M^WN!4D*^?.P6G=)^X=<'<<OBU,')LO"7&+6.[`G\\^5TVI=96RJIG<_9I.@N
M!:2`MU$B2I9<:60XVM!0MMU*5`].L',Q89=I07N23K7:;PGR.NTRN^$^&%ZN
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M(6Q8M1W6&Y1:C-EMLD`)[MR%$:[PCR1Y0+*F\',&QFKK*#%>8/)7&,?HZ5O&
MJ.BHN<,TK:FDQV+%9AUM/4P8LYJ-!B5T=A*6TH2``/8-;`[P\0ZD`#\X+RW.
MR0-SY#9P2=@!N29))/30&P/$JH_C\\L3]T^0V>=?N])H&@#\TJG_`(_/+'^D
M-GO^_M`'YI5/_'YY8_TAL]_W]H`_-*I_X_/+'^D-GO\`O[0!^:53_P`?GEC_
M`$AL]_W]H`_-*I_X_/+'^D-GO^_M`'YI5/\`Q^>6/](;/?\`?V@#\TJG_C\\
ML?Z0V>_[^T`?FE4_\?GEC_2&SW_?V@#\TJG_`(_/+'^D-GO^_M`83XB5!)/Y
MP/EJ-R3L/(;.-AO[A_9._376W<5M4:KZZ`X]GX58W<L&'9\]^6$J$XZT](C*
M\@\\"'U,+2XSW'Y\]H0M(/L.^H.7C++FIUY:>L&^/#VJ2MM:/(/RR04(2VOM
M\@LZW6$J]O6?LD^E\'L/34FQ2S#DV@VD^(M2E0/YP'EJK;]:?(;.-CTVZ]LH
M'458U,CK\V[93\07K\2*A8V_A]\LT]=]T^0V=[__`"4Q0_J:E`P*\0JA0V_.
M#\N$]?:GR'SA)_J2=`:[WAQ12`VE_G_RUD-(=0Z67_(;.EMN%'5*'4B6D+9)
M_"2>AV&@-A/B)6)*BGR$\M$=RM]D^0><;`;`)0D*F*[4-I&R1[`!H"OYHE4>
MJ_('RS6?V2O(3.P=OH^&<D?U-`9D>)%.E(3_``^>6)VWZ_G#9Z/:2?\`Y>T!
M=^:53_Q^>6/](;/?]_:`/S2J?^/SRQ_I#9[_`+^T`?FE4_\`'YY8_P!(;/?]
M_:`/S2J?^/SRQ_I#9[_O[0!^:53_`,?GEC_2&SW_`']H`_-*I_X_/+'^D-GO
M^_M`'YI5/_'YY8_TAL]_W]H`_-*I_P"/SRQ_I#9[_O[0!^:53_Q^>6/](;/?
M]_:`/S2J?^/SRQ_I#9[_`+^T!H.>'M2Y)4]^<'Y9^FIH-?+K\A,\6A/<\PN2
MM)-@-C(89+?L^$*WZ^S0#]\3\6XMPW@6-\:82+)K&\:*VH"[BP?N+9YJ3VJF
MN6%I*)DSIT^2IQYY]9*W'7%*/4Z`\@'8C]C_`/"QNSV_K/V.@/:(O\-7^:5_
MCG0%N@#0!H`T`:`-`&@#0!H`T`:`-`&@#0!H`T`:`-`&@#0!H`T`:`-`&@#0
M!H`T`:`-`&@#0!H`T`:`-`&@#0!H`T`:`-`&@#0!H`T`:`-`&@#0!H"]O]T;
M_P`VG_1#0'B\_P`+(T![0E_AJ_S2O\<Z`MT`:`-`&@#0!H`T`:`-`&AA["ON
M^[_D'3[CG:N*;U#0L';LJTY+XBFA$#0!H`T`:`-`&@#0!H`T`:`-`&@#0!H`
MT`:`M<)2IL#V*'70%Y]I^^=`4T`:`-`&@#0!H`T`:`-`8B7`DJ*@`Z^AIGX1
MNTV@@2'%^SN!]V_LT>P#72N<.(8LU^!*Y5XTARH\E:?EG,SHVI;K3"U-OH*)
M4X-H=;<20H#JD@C4&S++E*DVJ5X$E68E$\[<**4$IY@XM)40`$YWCJE$GH`E
M/U@GN43[!N-]7"LQ5OFE7FH)VHJ+:VFPKFOAQ"2H\L\=``;DG+,=4!]\)NBH
M_H:CUAP?M(VIK'G'A]PH:C<M\:K?=6EMM*LDJG1W+.V_8S<AP[>WZ/IZ:YW9
MJ$.9)IU"%Y07L#(Z^)<5<V'/JK6#&GU$V'(9>8G1UJ=:>D1_26Z%LAUO8*[U
M#KT]NM[#A<^+8#N:[WX6X)<FT!J.`T`:`-`7M_NC?^;3_HAH#Q>?X61H#TB5
M.4>4?+7*7D-`PSEW`..,0XEY"<PB@I9'%KV8V\F#6T]?:2[BZES;*J8??LI-
MAZ;:6%'9"-]CH!<IXY\SBH`^3W&VQ(WVX2CJ.V_N3]?]3]S0&S_!MYD?SG^/
M_P"09C]\.@#^#;S(_G/\?_R#,?OAT`?P;>9'\Y_C_P#D&8_?#H"HXU\RS^!Y
M/<=GZ?4X'9V_0VR$==`7?P:>9_\`.<XV_D':_?'H"T\;>9X.WYS_`!F/?LK@
M5M1^_P!,C]F@#^#;S+.W=Y/\>$_2UP*R$?H;Y"3]_0%/X-O,G^<]Q_\`R#,?
MOAT!RY7''FFDJ+?E%@"1W';_`-PT?HG?I_\`KX[^[0UE\+\F(?#HOF[?VN44
MUQS]QSC]M03D,0HQX-9LXUG5+_`MTN-Y&TI/>?9[0#[M#SV/DOFTV5'"1QWY
MGJ4G_P#RDXR]OL_@$3^^(::E]:O.2H;7\''F:>BO*#C4CWAK@1L+_P`Z3D1'
MM]OW-#J'\&WF3_.>X_\`Y!F/WPZ#;L#^#;S)_G/<?_R#,?OAT%&'\&WF3_.>
MX_\`Y!F/WPZ`/X-O,C^<_P`?_P`@S'[X=`'\&WF1_.?X_P#Y!F/WPZ`/X-O,
MC^<_Q_\`R#,?OAT`?P;>9'\Y_C_^09C]\.@#^#;S(_G/\?\`\@S'[X=`'\&W
MF1_.?X__`)!F/WPZ`/X-O,C^<_Q__(,Q^^'0!_!MYD?SG^/_`.09C]\.@#^#
M;S(_G/\`'_\`(,Q^^'0!_!MYD?SG^/\`^09C]\.@#^#;S(_G/\?_`,@S'[X=
M`'\&WF1_.?X__D&8_?#H`_@V\R/YS_'_`/(,Q^^'0"#Y!H?,_"L0R_+_`,YK
MCFQ_);%\ER)BF7P7&B.3?J#'[6R:CHEQ,CE/-IE2(R=RXVE6PZ#V`@2>X2S2
MYY$X;XESZ_;9CWF<<?89E=U'BL*C1F+/(<=K[:>Q'CK*EQV&I4M24(42I*0`
M23H!V-`&@#0!H`T`:`-`&@#0&E+;<4V@=Q['4/-+`)ZMJ^<)2.@[2?33U!!Z
M>W0'RQ\,.'.%;GQRQBVRSA;$,SM;C*^0'K*\FX72Y-92%GD?)6%%Z;)8^91L
MPTE.P5T`^G5'>[W:LJNQD]5^PE(>%_%A'Q'QUP3M3\1WXI@.#8=3NVFE*G!]
MP`D^S4"'U3&[?CC)_&Z"XO<?D9$<->)LGM0.".*FBY_YE[BS'HDQ?0GL9AR:
MIN>ZX=OP4(*MM]6OS/B0=IS<AX*\7',>OC`\>^/&YDBBNDI;1Q=715Q.RJF+
M#S<A=6P67`4`I5WI4".G77#(R?T]'O`P_CGS/CWCC]F5PIS'F$:X>QG!N+ZZ
M?85./54>7=38[V33X+5="AR93#94^9"4A7>/2Z+ZA.QZ8N2]&8H*3'OM*/'2
MVQMG*YV8/TN,S[W-J3'KJQB.2)N5S<'RNIQ'MQW%ZN++O+:'DEQ=M,L*0V'6
MEM*!2>FK>-SJ*K!P*;[63P]M\TNL,1G]G6&LQNLOJ;([;%\@:QS*%VD*PEO4
MM-9/5+*%Y'6S:Q^,Y!F".^WZ2E`*0E1&P%I/^TH\1:6HRFTO.<:"#"Q"URNM
MOBFJR658PG<0MJNGR%CT*ZBEO*^H)]K'CJE(0Y"GN.ER.XI"5;`.[AWEMPAR
M!FS>!8KG\:VRN9ZS+-%#B6R943ZKQ&KSVQ0^^NF,`%C&<HK9'SGJ^C)3(#"0
M'VUC0$H(KJGV&WEI[%.!2BWW)7Z9*U?BN]`"%^E^#N.AVT!M-_NC?^;3_HAH
M#Q>?X61H#T^>-B0ODOS'*AW%GR6M"UW=?3*>.<4=24;_`(/:XZI0V]A43[]`
M3#V'T#]+0%VY^D_IG0!W'Z3^F=94N74!W'Z3_5TZJ\!0"2?;IS<W`'/L1+#/
M?!<8:D`@!4H/J8[3MW`AHA)4?=OK`-)OZR5+:;>?A&(J,AQUM@6:)RIA6L+6
MTL'Y<1"@)[0?>#OH"+/D5YA\-^-EM2U/(F8RXUQ:$RIE-30K&^FT-`TTU)E9
MEDC%-&?^H,7QV`KYJ;(?(08O>H_$6M`2GQB\K<EQRBR.CMH=]27U5"N*B]K)
MB+"MNJRQ81+@VL":U^*D1+",ZEULI^$)6`.@&@.V=C^%U'W>NLK:-N@R67T\
M^EM:G-JQ`<<KHEC4V=8V5-R+?'K*:W*JW4E)"ESJKTU*[CU2T%#V:G*,=M%Z
M;2HSY6,:2<(QCY)(=6FLX=O"8GP5-NQG_C6^)1642"1LRCJ?A)]VM+D8J#T5
M2?A9>-.SRTCU-VB.S\7TJ_3.H=23SKP#U/3^([D>SV_3]_[VG+S:(PXN\N6.
MC\`$@.=!W#;KN"!^IITGXFORES^J7M#N/TJ_1/\`DZ<KCM,JU*TJ2;;?$-S]
M)_3.AD-S])_3.@#<_2?TSH`W/TG],Z`-S])_3.@#<_2?TSH`W/TG],Z`-S])
M_3.@#<_2?TSH`W/TG],Z`-S])_3.@#<_2?TSH`W/TG],Z`:3G-1_@;YE:W_%
MN<99IZB/UJ^[",C4KN'L5N4#?[PT`EO%U1/C'X]J))4>$>+%E1)*BM6$494H
MD]>XD]3[=`2#T`:`-`&@#0!H`T`:`-`:TI2A&002""[L=R-MA8>P_H:;@?/O
MP.RW#*?QKQ2MLLFP^ND-9GR5&EQK')*VNLF>[D#(7FUMU]D\.@6O?<I'M^'I
MKSL\"S/XHQ:KP3-E.7%DSQR)QT"#^7?'X(]A&9T&XV^C^R-:6^UX5NZKJM6^
M=;^6/Y&'.35*OVEQY&X]]J<ZP!:_</RQQPJ)^X77^W?[^K#IV_Z5[$:HX&6<
MA<?.8SDA8Y!PAUY5#<*[_P`L\97V26ZN88Z'4LV4-QUOU2`4>IVJ'0@CIKK9
MLV93]Z,7IO1GR(<>,?#V'<U_9U<(<7<@Q)D_',BXQI8-['9GOU4M/R&4R[MB
M4)K#[A3#^=89D'\:M+D9HIZA1&I:LV8_#"*]2!S>;_L\^'>2L6L*W&FQC&60
M[N^RG$LOLC=WSF)YAD>44>66^9TE+4WF-3ZJV@9301)%=\O+9$5I*W2%!6NB
MBEL5`8^&_LTO'SC'$*&GN&<RS[(8MC+M+[)K.[9:.27;V/9E5V=I*BPRH,/7
M$7-K1$8][C_XQ`6XHI!.0<*Q^R1\+%8;;8:U@^7,5ESC_&V++LH&>9#%F/4/
M&-98G&638(F,&IA36)03;E:)#$^0TR7$$M@Z`<CA;PLXYXHYYR7G&AM[1JU7
MPWQMP!A6+3(SU;&H^/L,L!)@,W%G->M1D61VDZ.MDW`CQ72RPVUN$I``'T&B
M@)CLI2XIU"4=K;BV_34II)*6MT[G?9L`!7Z\#N]^@-IO]T;_`,VG_1#0'B\_
MPLC0'I]\:O\`K+\P/N^3-SO]W_W;8E[?IT!,/0!H#A9-/:JJ.PLI`>]"!'>F
MR?ET2E/"+"9<F2U(,-#DEHB,PO921N#TZ;[ZC94^G:KXF5M/G!2?:%8-&XJ=
M\D>1\&SCC3QGL&(L_C?E`3:W)FL[@6]K/JDRI&)8E:W5O03*.)3EPUEI7!;"
M6U+4\>XIU6O(TJQNU.[=?:.>+.,9ODG'5KR/<0KO%8C4ZUO+#';M6'L+LZ*G
MN\<HJ'+&ZR#0VV77,7*:^3%I0E;CJY*DA2>PZG8=U7%*FYF/`2N6?:>^.5%B
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M!%K52;JCB9+`;?\`FT1'U38J)B6Y*2A#C3NZ%I0OX=9350+OD.7>QL*R=6+I
M-CDAI;:3CD%4D$#(G:YEMBF3ZJ0E33"U>HT%*V6?AW]NI\90WM)^:]-3R/U'
M.\OVHREH]B;X>!&'@/D/,:1VLQ/E]ZKA93ETK(,GKIM.^6ZR:AJ;#K9\2_FO
MAJ/46M6K;MA(`0O?HKIK-R,G:;2;\E4\SVGNSAEPM7YJ%7L;2;W;]FPG`VZV
MEE2UN!2$)2IS9P'M!.^Y^([#KOO]&H%)+:G[#V?]QL?_`"0_ZD9G;"N2VTDS
M(T=U3Z`RF0MM1DO(05?*M-E:5+>6D[[)!4!UVU)Q(.=QJE70RN[6K7O1G#_J
M0V&7<T<;X+(,;)\LA5[X6E<R$B3*L4PFW`>QR9#AL./0FE*Z]RMAJP^5J^9>
MGVF?[ZMNGM7Y#@8YD--DD06M+8Q[2OE,QWX]A"?+E:^RZ'/2$4+V4A:0D]X/
M7?I[M0LNU*#CH]GIL)^%W&WF)^]&L7Q7\!2>X'W'V'W'[Q]^H556F\L4F]5L
M#39M,!H`T`:`-9HS-&&E'P%&&L;-IBC#2J8#0!H`T`:`:?GGIPIS"1[?X)^0
MCO\`=&&7^Q^^-`);Q@_N9?'S_L0XK_Z#T6@)`Z`-`&@#0!H`T`:`-`&E4#3E
M=?4V65J#[#XB`$%Q,6"2K9>X[0M2?9[SIIX`^,W%_'&7<[4$OD_$_#?PE%+D
M&:Y<:^-E>5YG3Y#.A4N7WE?,L'TXQ@&5Q&YD^0P75I'8"M9!ZZUZ<-]/:9H^
M#'/_`#7>2`"3X8_9\`)5VJ)S+/@$J]O:3_!!L%;>[VZY7%:C!OFBJ+^I?F9Y
M9O1)U\F8Y/C)R!%96].\._L\8$9`_&2IF<9U%8:!!(+CS_$3;:`=NFYZZK^O
M8_\`DA_U+\QT[NWEE3R9R[CQDY`K:>=;)\/?L_UI@0I%FTJNS+D1R0Z8<5R:
MV(WRG$2%.*D)0$HW4&U%8[CL=2<>47/1IZ<378Z/:33\0<UKN1O''A[.JO"Z
MSC:DR?!*RTK<"J'%OT.(Q5NOU:L<@29L:NF/-0I<!Q0+D9O=+X'MU-J@28*6
MB%E0:(.Y<)"""4@H5ZA/0E(20=_8!MI5<4"H4CM!"F^U/:4_$CM2`4I04]=D
M@%0"2/I&WMUD%N[+@3N67$]I4CJVM/9T)4CJ1V;$'<=-CK-&]AE)O8@V82I2
M_P`0E;K>ZEGTDJ<:;45=RE="MMM:]]SN$J._M.E'P8I+@R[O0=QWHZ)W("D_
M"D;@$['HD=I'T=/N:P8TV;S*W^Z-_P";3_HAH9HSQ>?X61H8/3[XT_\`67Y?
M_P#>9N?[6V):`F'H"U:E(25)!*@-P`-R?N;>_0&A=P464+T7-R'"E+B4M,/D
MM*!2ZVME\%M33K:BA70J"5'MZZCY,.I:IXF5H?/F[^S+\5\@PF9QQ<8OG5GB
M,N^^OZJH>Y1S!,/#I9F/NR:G#&/71%Q['(_S;RD1F@EMY,EQ(Z;ZK_EELH#I
MYQ]GOP#D>/9O$J,.,+*LG#TFLRBR7)NGL9RES%<=P")E5+"F3&([3=+CF/1U
M-H4/62M*E,[*).IF):5M/Q,:#=8+]EOP/C]!#J\SG<H<A7KM)RCCF4Y/99Q?
M4D#-:'F"?(=SBHML6JI\FO,&V:4WZ9<(<24)4X"I(VF`<B]^S>\3L@0@W7'3
MSL92IGUU4NW=R_19O52JROH9M-G%#%<+698^Y$IH*V*N?O&:>CMNI&Z#MAW5
M'W6]Q)M-J&G$P87X#^/O'G%>:<*T^+Y/,P;D>_9R'*)&293DN3Y%$MJ]N)%8
MF0<T=G?E)%LZ2LKHOU6(A+$=QE+;?1`UAWUQ9U3DUKM.RCP9X-]2DMG*3,;#
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M4+$G*+J]A[2_](3P;,,E*LG)+9_`=S`>/)M<_D^69C2UQR+-2['R5J`RW(9A
M0:Y2(E-315/(+]JS(C+]1Y\;@]I!UJ\K=4N8=FN+$;:W-;/3VC+KQFL\;\_I
MK^G5D+^%Y1*R7\M^^PF6M'C,B7/972RH5*I2X]13URI3W>ZD)0?43N>@U,MW
MU/&G"OO5*#&PWA9BE)4=?Q)P5$V/,C?,1W0[$=]-<2074$2V5M)4)2&@3Z+;
MI.X'O'77FI8[LY'5>RM3[)VKN$+N.K2>M#KGW;:ZW;BNS<UL)-Q<LVBFN9H&
M@+>]'[)/Z8UF.U>8K37@5+B!V[J2.X@)W(&Y/L`W]I.K`X?W"/$HIYI"$+4X
MA*'%>FVLJ3VK6%=I2E7L4KNZ;#WZS':9CW*$75O0%.LH'>Z4^F%K0=SLGO;2
M5N().P[D)221[@-0\S]NAO'+C>^%@'HRSV-=H6"O?XAO^+(#B=M]P4*(W&J[
M'7O/R-^6FH*6E"TMK4$+7MV)5T*^Y"G$]N_MW;05?>!U+!C$F,HE(D,%0:;?
M(]5`/HO#N9=V)'P.IZI/OT`"1')=`?9)8*P^/41NT6U(0OU.OP]BG4@[^PJ`
M]^@`2(Y]0I?:4&E)0Z4K20VM3BFDH41T"BX@I`^D'0#5\]*3_`IS".Y/_5/R
M%[Q_R,O_`+N@$QXOGN\9/'PI^(?P(<5^SK_^`]']&@)`Z`-`&@#0!H`T`:`M
M6M#:>Y:TH3W-H[E$)'>ZKL:1N?USBSLD>\Z`H'&_C_&-CTU%"]W$#M4/:D[D
M?%]SVZ@7?W&#44XVHET+26C'=4'-_@*0BP)4">FVM%M"VD!?!K*,>H/%;!OR
MALZ^A]?+<_983+E,15N/#DG)U!#3;RVU.N*20OM`]A^C5?WB:LV6XHG8]Y*7
MC0TK;)>0+BH.=0N1K)=<YE%W22Z#ZN7A;-^F+;?551'K?D&[.4AVMC*#[DMC
M=<EI)*3U&OCG>.\97-*W",FFN&T]#AW;?4@Y;=E=ZKYC&QYS60Q^^RRN-8O1
M#5T4^KN[!=LU.79Q%S+6RO%7;ME8/?4WJN,?C6(Z@>FX5L->=PYY.3E1ZD:*
MO!GLXK&>*U;HE3<2NP/$HN3</UM[D.6Y!D+\'`9<=$>KEW..4U;)JZ63%6B'
M$3$BV$EN1\E'^*0?3`1W(Z#7WKL>'*SB1N/A0^9=UQHV\ASCLK^1\>,-Y4\P
ML`PGP.I>"6LJ?X7?X=XFC9W`I,'&:LTEEFO/-Q4W^03+JV>BURGJ[`I2V%>J
MX50O6$HIV8*A=%2.!D7FOYY991\AKQ/B:SP2KXP\J^-\*A7$SB/*KB=D_!=U
M'R&+E)MZF6B/+-Q46=;$;G3J=,[UV9?JA(0>X\;OQ1-D]*'2A>='G;45%U'B
M^*EO8W=3QZS9_DY=8AE;]OCORDBB>K,VF7ST6)`R:LR&9=RF44#+8M*UFN2I
MY(41M8X_PF#LR_-WS6&>8QPTYX\6*?K/&.8H.5Y?CF#93506;C&&,Q>X^S?!
M)<J&[#KX5W$J:V2[7SG`-I3;0'5.]E&<(TJW4XSSGCRY%79N$O:<N>?'\/G`
MMY\CRS<<6R>*O'B)GD.KQMB#B<KDC*Z/++/.*7),7?H(\U^US"UC5]8JXCVR
M(N.H4A3L=70G;K6^.IK_`'5UK[Q)SPL\H/(#E?F/E/'>=Z?(ZZMN,?Q2%QK1
MPN)<NQ:GQ/-6F\L.>8K-RF[B+8L+7%T,M-/6CKQK)ZE(+![E]NHLW63WG*$^
M>?/Q/L%&6'!&<#BG0OT5!U3?I*<"NT]ZFMD^FI7M*=AMK0N[7P>H\7W^%D:R
M03T^^-/_`%E^7_\`WF;G^UMB6@)AZ`-`&LI)[0&L\L>*`:PTEL-HQE+8@5NE
M"EE*BE/X12A2R/\`.H"E?U-8,].?`Y=A8Q8<)^6^^B/&+*E.R7@6_EVV-UK=
M"%A+JD@'XNU)V'MU49E_IW^7P1W@U"-)Z,0M?8W.6*791K"=006&4U]=V0:N
M5$LHLA(7]>1ENK+Q2#^R`W/X((ZZXJY=FM$9ZD$ZI_>=QBLR=;3:CE4EWIV^
MI]4TZ2X$$H"]E;$%03OUU.C:N.*=-Q%E1R;6PX(PJ[$RTENY/</FWA1XCK8;
MC)8B]DU3RW:R*#Z=1,],[F0@K[B=PGW:RK-Q[C"%U'9=C5Z8[B%J6PH+4_\`
MNSKB&MB=P@%;JUI'L`W4?NZL\)6K47\P^5^G`DPN13Y:^Z(.TSGCG+++(>-X
M^68U.R9-5+3=XM`OJEW):V"\TRVX_+J%R#*A@B6CL+S:4J*@!N=199SLY\)V
M76"?X,Y=Q[?VO/P;EF<D[DEP_@6X/B^/X)C]?244"/#JZ>(]#^87'@L+,Q3W
MS$F=,D-,MF.\EO<.)6I*@DDD=NYU,R.[7;CK%ME#A=DQL.G(HZ>"_(6SEM&^
M7/J/)2E&[REA*U(2TA@R"]ZB4E'RZF?B0YOV+V/:3L=5G]PN<WZ^D'L\_43^
MX3L?+PA>HH\ZW?P->/D-+/B)E0;*/-BH7*!DQ%*D1UB(5MR/1>:"VW_3>3Z8
M["KN=(0-U$`SHQO2BI)/E?BBPM6,6YC^XT_5_`:[F>;'I<+R&X:H!EJZNOF2
MI6,K$4-62'*\I3$F&6VOY<,_.MOD'MV4@!7Q;#4O"ZLY-)/E3UV:'S?ZDMPQ
M<B$$ES25:<=2O`QD(XRQ!B86?FDTT-U7R[C;K`2^UZR64/-M-)4N*A8;4D[K
M04[';;;4ON71=E])UN4)'T[+)Q[D992<;7%ZZ>IL?1"@M(*3N!N/HZ@]?;MJ
M@QU.-JEQ4E5GT*;CDOK8_O6FMOEMV^)=KN:]&[P,"Y+#:EH6OM4VCO6.U9V3
M].X20=1?G<5MQYU5/@_R,7+4[2K-40C;CD7$*)R8Q:7=1$F0NT/0%SF/K,J=
M0E;(:KDN*G/%P+3L4-J`WZZEVVI^]'6)5Y.?BVX2@YI3I38]KV;AN6<DY(RS
M<4.'/T==(26)%MED]EYT,._`ZY!AQ72I4AM"B4)5V`J`!(U-ZMOBCRT/FKC]
MR+;\U^9Q[GB7.&(4J7C_`";FJKZ$6G:M5S:M"D8)>2MQE*(E>)#\/MW2(Y;!
M2?\`SAVZ[VYQN3Y8:MDF_A=RC:<XVY45-:K\ZC?6_(>;W5!EF)!4OC;EY===
M4U)DDZ@EWN)/W]=5.V5=?2H=A81VG8$E<9/JA".X)/38[:TR<:].W6$:^S\Q
MA=PACW%#,ER2]>OLJ?,_C+[17R>QN-XRQN8./J/)\K\J^22E>-U=-=4C/#/'
MCF0Q,#C-(MI,57Y5W\^[8<LY*UJ0NLBSFV^H)(KEC7\9\]^/+%GK<?+QLZ-,
M2:G*.KT:T]:0,?:1^24IG#LER/B#$,$QVRRV+.Y!LYT/EN]:/%[DC/FY57`K
M]F6*G-HL[!&6BOM]%L2TDC9:-\\\3:34-9Z#R>-7GURCY&3.+';#AY>/.95C
M?DS,LL5KY,^XJYESQ3!QC(<"L:NWG57SU;-RB->M,?C2&DN(6PGNZE.'."VL
MYROV8QYY2]U>9%OD7S]\G\,\;)?+N"YQ6\K\Y2;ZIC<C<5V/%%K"A^.T^T;R
M.1E-/EJ:*-(<^H:RHJDK6U(4%JGL,/H442$[XZMOB<K&;BY,N2Q-2EZ_Q1]&
MO"7ROY<Y\RKE'CS-N/,:H?X#*['\;Y`RS&[6TF4]URG9U-7DD.MP6%,@-+3C
M=OQADM?-+Y4M^-,D+;"%]I[=N:+WDV=N=N"N35(,E[S0E">">64-A(;8XDY`
M8"4_^;#6%7Z$-*/<HJ=:0D)6K?=2P2=B2`YHG&$XS?+!U9S_`!5;7^;'X^)[
M?B/!_%.PW'_(>D^[K8W)`Z`-`&@#0!H`T`:`;[D_,V./,&S7D!Z#.NOR#PK)
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M/):VO9M_;>&V`74B;#'I1)WD1$D,Q+)"/QLE,%RB_)UI<I73N9BI4-]]18?2
MG:;]Z+O.*;?#^!.NY=RUC2E;UN*.GF*6,OR9K_DA5^!W#,,QT))4_P`OXBT^
MQ("2ER0S+AX8V^XM221N5I/7VZQD_1N%9NJ>)&,U7P7Y&,/Z@RHV>6]*4)>G
MF=:QY$\SOJ*54,>(/'M6U;Q;"F:;8YYJ$(CQ9$.1'#J&GL?+16Z7=D@@=?H]
MNK=8T\7%5MQ2BFEN_,C/.GE9%&VXTVL=_P`0^/,XX=\:^%N,<_FU4G.\&QB-
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M\?(V`PO=];28J&W=E164_.*,=2EEQ]:FGWW8B5N]Q"NP;$DZF*O(N-"$^6-Q
MTV5.DTXWWMA*0TD+1VM)3LEL=PV0D('8`D=`!T'NTHRSMY%E1HY:T\3Q??X6
M1H1ZGI]\:?\`K+\O_P#O,W/]K;$M`3#T`:`-`&@+5+2VD*5N>YQMI(2"I16O
MO*0`.NVR#HR18>C0B<OO9T%RO@UJ8_J2H<VW>6X\421`JV3*F(C1DJ"Y#HC)
M*NT#W:P=JJM6<@RGLX>9@0G4QZ!A^.Y8VC`$J'<H;CM26X<!3WQ(:=6[V3%;
M;+[>P=4G5-F67<RJ^!&N.LO`<&+%::8#+;*6&FG'5--H+991W+*A'C(;2$LP
M6O8TW^L1TU/Q\5TT1R-[??KVA'0?"GV)Z>P;=-2Z-:/:`UE;4#&N0EAI$I7<
ME':IX$MK4I"6@5J4MMM*W-@$D[`*)]P)Z:UO;&$>>KEGPG\H;WD_GS*^%\7Q
MOBO,YW/&>\S<:^1`R^G9OK_"\IXIHL%A<90ZJ/4+M8#643F70Z[,2&(2H7J,
M`/;G51)?JKTXF?`3]1X8?:(V.78'F;O(UYA&/XC(I9])@%GRU96\K"8@Y-I[
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MWHQE)<]9+45#\A3ZSO(2Q""(^TE8[NU`'8.AZZK<G)HFCUV/VRN*DEK04F[9
M4&T*1\/P'HL=JDC<^IN@=I.^N%N?/!2)%F%ZQ;5N.Q`1MMW`(!.P*DJ`/WOA
MUT.G/D<&)VUM8T)F7(D.1VFH'<JP?=<0VW&ACM]-U\K*5MH<[MDJ([24D;]-
M=+?;<93ZCU<GZ;RLS,O)FG'AZ<"-D"DPKDC/4\BXI%JG#BZW8LC*XL0O*M)0
M[FNY#E@WZ,F`SVE!>1ND$=.G75@HXUJ#@J;/3>>6E9R;N3%T>LU]Y)AH=C3)
M;CR9#H5'6\TVXE"&&WE@=ZDK[.[T]]U`;]!JKU/;VNW.RZL[#R/49=0$H65M
MK2E+N_IE92>SN[1W`!6VNEJ7)-23HR=&#NKH+>-CR%A#600X=BP66+JBEHLJ
MV=,2_8($P0EQ=EQVAZRXP4OJE)2LCJE2?;J;'(HN5;#Q7=.V.633QX'G]\DO
M+'S-X0YPY;PF%CT[*\LL,\Q2'X_\5(XAD991\K\:]M,N3G]!GL*$]1<8/87,
M:EO7GUS*4Y.[6`WLK;6ER777*MS)N%;O85OG2UEIL/MTQR-QO!JJV]O<KQ"D
MD7=5]9(;N;6+`D(K%QH[[U;%]68S+^7C6@4TJ1':5'>=:5V-I"B3R5A[MIRR
M\V\HNE>;T\!,W_-6$16&9%=!N)D.TB)8QJ=6T3:*QZ3*6A+K<6[G!^&XPIP%
M3KCL?=:"`GJ!J78Q;;BW,\[E]TOQI85:R7INU$W89\_QM953?)5[`;C7>/SK
MN3"@8V[9.Y*S7JB14QL;4S7*GMF@8::FV)EI4'0\I*`!L=='B6'IIS;/9ZSK
M@7,FQ+JRV*GKU\MPX&`6_".'_6#V'/8;13L[NY>7Y`K&K.&EF^RVWA5,6=E<
MUP2'W/K=$&L0F/ZOI);9`;[4;=NH=S'I<:C3E/1W^_QE8C&3]Y+UE>0.0L+S
M'A/F^NQS*:6_L:?BGD%=XBN?0%5O=AU\Q\S9,+]-R(F1(!^(IV6K<CH=]<G8
MDG7BSMVC*5ZZVFM15>+3B6_&GQY"]Q_[CN*?8-__`,!Z/Z-<7HZ%\]H_.L&`
MT`:`-`&@#0!H!K.:L=N,MXDY3Q6A->BUR;CS+:*M39MF1!>M;.DF1:MR8PPH
M2G*]N8ZE$AL?AMJW'L.@/.KXC?91^17@:GPIY>\9(F/0.3)&'0N+?M%N/[?.
MG;+$^4\7>DR;.DR[$I5E'L$G*.,;53354RW\E&^IRN.`7"5$#TULQDQF5(:'
M]F,)0XS+6Z^_V*C0WVVR52'I$AP)6RH#O<40G8;Z`^8'BYQ%?\V<.Q.4<V\@
M_(N+D61YKGHL$8WR/755%5M56<S(E=`17N8JM0BB$RD;A3@2!L2?;KI>RJ1I
MN`^SWBC2Q5-A[R+\G&2X7E-*/*=>HJ$9)6XZVVG#BXZTD#\-"5)^[JDN9;A<
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M[VT!*&%MDJ4KM!0.X;@C>BFOU9`YZLQIHY0+*4W6^M,^0B+F^G"1-F?,IBB/
M",EQI<YQQ2T+1Z06%M+2H;]=M3!UY%RW"5);6E:!%+ZGRXV4]C<99;?D;C<"
M,C8'O.VZ5@CIOM-LZ0]9D3K^?8RW5LW\NWB1:26Y&;@W3\V-&I[`2I#$*,Y!
ML'$JBOMO39"64?&"XYN$!6NP-=OD[CQS*G,$&;8L,W883(DX@<CI7,EBMD,K
MWEU#4PSHQ#4AMS\8VC=MQ*AOOK*V$*?QOS.K797764R1&KI,:9(K[2)4V$9D
MAQ^NL9<5%@Q!G`'TV91AN(6I/<>T.)W/4:&([4>./N5^P/\`XL3N]GZ__P!'
M[?POZGW=8)U3U`>-/_67Y?\`_>9N?[6V):`F'H`T`:`M6H(0I1WZ`=J4I*E+
M4HA*4)`'M43[]AH!#6M_8/W::B@0U\S2E,N^DS0H0X`>;<1%8<+06LOK7OT`
M(^[H=;<U%-/>:E/2VUK+B7=^JF7,A5D^KB.L0G'WVA/);DNLN20R66WXI*"G
MM/=OOH;N[%JE&+:%`9KX[,.&TU$@1O6^7A,#M9:"Y#KJ0@!*2E*@O=0Z[*)V
MZ:XRM<T^<XRES.IOI4ZL`O):2OJ"&=_3[1T00%`'N*?;]W4ZU=A;5&C4KKC-
MJ4W);&P&L+1U!HV!E&(_*3(8CJ`)]19<2F/'2"7G5%);*2AL%6X4GZ=Q[=:W
M%SUH#X3\G<L<KTUUY;W%UGO+\3G;#<BY)A\!\'8E5S7.-,MXP..5(PO+9,*!
M32K!QF(TY*<7/%CNBPDN%(*.NH+Q)N:E5:`0'C;Y9>;2N:N'N#<YE0\Q?Y?Y
MCYN8EKO\!F8UE7&>`\+SV5YQC-BT4I$G%YN.W].FGGF.AB5+D%2)+A:6C73Y
M>?%`]`5K5JF5MFFO><9ES(:8S-BRE^4^S)6DN,/*6ER,[+553`A;1W:'IH*%
M'96I&/8:<N9K8:R2=*\3SS<3^&?/W$7D]B/(G)DO&>,L?XES;F3/<W\J6N0K
M"?D?.^!\@PYC,3AAW#KN-,,*JAKE!^1.+[TA@-A,9"5H0X*F-QV<OWFN6I+O
MV+]W'<;,)-TX'U:\>^4Z7EC/,NS"ND7%E#CE_&:&U+3<;%S4LRC*A1<;@.OF
MT^8EQ65*?4M#BW'_`(U.*!&WJ+URUD1AT&]%K7:Z^7L/'+!R\?*ZE^U-K=I^
M?$6?)G(V389F<>DAV#,7%W<-?L:MQF,U(F.WE?'DRE5[ZPX)4=QU"0E*0@I[
MNI(U0=PLW+%MSFZ[=FT^B]JC'*MJS&+C)T^+Q\N&\X+/DY8U./U,^\QB=+L7
M(5F[9L0IWK2YZJIJJ>0S7M'M+]A(1;H"8_[H2A73V;\>WYMNYCI4ES)OAQ\S
MTW_UQ6H4N3MM[J5\^&PZ+_DI+E54IUJNCQY_>ZS'=FVI1`BR!,LX;<69V]ST
M:0A%;WNI4D%!6$GX@H"U@U-:'"7:<:WI6%?3P([8_P`N,9LE^\Y"?R>Y766E
M_;.XR[>QZ;#ZV;C%M#CTR&7OE/K&S8ES;DJ0F0X[&7'0/Q0/PZCWNYM)VX1D
MFGZ/:4C^FHWKKESVM6Z5K^0].,^2K<^/&1`Q&+55L5^;`;5]:-E+US'8<D?4
MZ*]F/';572FAW!P(`"COL!JJ>1E7+R=:1YEMKL)UKZ.A135RS5>>[A[H_P!Q
MEGJ^0:5RVF5BHKT.WLZU^J6KYZ/&?JK'ZO48MHDA#ZVG0'`#^L^[KT%-*\#E
MW##5BD51UWKRKKIL8[Q!V(!Z]?T?\6VM?$\Q:NQLY:E).BKL,;C7JI"?4<:(
M4A0<:_=$%!W!2=TD'[H(/T$:U][P-,N-O(N]2"IKX',56%3L=;:84=IEJ7',
M;T7WT+:EK;6\7BF1%3+0\6@5H=2I7>0KU-AVGM9N=-MR6WA_$[6;5N<>1[CD
MM8)B$93JHF-TT9+D@/*CMUT1+#Q6K>0_)(8#[[[R>G:I2FP!T&^YU(CDPK62
M>SPV[O4<+W:[5Q>[RJOIP,]CB-!9MM0Y-)6*KH\A$J/$]%*64/,_N/\`8R&T
MM)0D$[@'43*S))Q5NNS7T1Y[,^GD\J%U./(EL]>[0OEX[6OK0MR-5M(2VJ,X
M&819=>@2DA$V$VMMY)C-.!M'<05!X?"M.P&\7YV\W_C^99W,*Q*STX1HZ#57
M?%^)N0KAF%BF()^L(DV*ZXNFK/3=>4TXJ)&D0(<6I-FWMLM;*G6TG\(K*M7/
M;,F&;+HRBU<6UNE/Q9\]^H,*]B7'=C*/+IHJUKY>1%W#,)P"'XV\P7]9742L
MV?XKY+QS-I\%#Z),MZMH,I]*NF0Y3BY!7!:2CL0X5%*-D@D`'5IW/%_MT:W-
M57=X4X\2R^CKSR)<NJ\R37C'U\:O'Q0<+P3PCQ8/5*`VIW;"*3\86T_"V5[[
M]ON]FO.-J3<EL9]`:HZ$@-8,!H`T`:`-`&@#0&-:.];*RW&*F7`4K<8]1:FE
M;^LVHE2=]^G;H#$W&;;>+J68J2/73WAC9;R'E*4E+R0L('I)5VC;?H-`8D!I
MA:8B5)"UQU%I`[@/3*;+O6"=PE#&_P`77IH]@/FKX0IS^]\=L.JZ%V+AV-1+
MGE27,RB7"5:6\]2.1K!)<QJ$M0@U:0`?B6I2E=%=N^J*69&ZVDFC.I,.#P%Q
MF%2)5EC,'*+"8I$R?:Y<ZN_G3[%/:3*+ED[,=KB%)[D_*+9;2KKZ1VVUK:Q+
MER[&3:</6&WRTC\0NZS`<+H8:ZZEQ3$ZVN)^9+,.HKF6Q+[P2X(SL*0R'RG?
M=\DK)_6ZL_DK/I0CTR=\HU]9M92$-8QD*FG6T(CX]?*88CI0PA)%/,#:`%B<
M.X*Z@H#2=_:-M8^3@G6&TWM]92_4:<:;JGQ4P3P?IO+/Q^\`K>ZS*55<>8?P
M]GE'F$"DCQ'LBS;'LER&),%!%M)%'/A54*8Y6EB5(8<C3FVW5%E9)4#;0O1A
M9E;U<G[-AN;V>_9[<[RQF,["N7I,>^SOG/.<OG1;;DOE"GIJ3"IN'UU!PY+H
M8T=FS,7*>!+6O$VO@I`J;93SAFD[A(JY8\G-RJJ,R<_.?LZ/*RZH\HI*ORE4
MFU^M[!S`[BTRC*F%0J#*L#M&<LC24Q&Y1?L%\H6[\UE]@L*CP7$(9+*FDH+Y
M>?%`4_'W@%Y,<?9O@2V>9FKCB'%[&SF5^!/\L\M_,X!<38E(\C-::SE/W$G+
M9PFQ+&(JNN'E03"MG%]'&4(5WMQ<(T>T#.0_LS_,B7F;$NWYTX]O\(IL>QNI
M3C\?(N4A`<3BV>XYEM?;SL9LV'\=E9/6PJJ1%BV+"DK[%([F4[JVZ`?3DS[/
MKEO+_*+E/R!Q'EJOQMS.'L]N,+0B/8Q%X#=9#Q56X#09A4I@QHTRRSBOEPG$
M/)FRGJQ,92'68XD)ZY(\K,G)NJ'F\&?&CG+QI<S&#EC'%HH.4L[N.0[EO%,L
MY-RV]I)KF(8CBT:B8M\^@)5)C6#^-.2)CZDI6A3Q+23N0%3"LRKM1Y]=S_Z-
M'_BO-OW1?M_]#^#^Y_Y?\+[FL$BAZAO&G_K+\O\`_O,W/]K;$M#),/0!H"U:
MTMI*EG9(VZ_=/0?U=`<NUM%UM98S_14IB)`G2G%(=;;=5\M$>?92QWC93[DE
MM"4C?J3H!.8C5,FL:LU"Q;G74:!9VPLVD,S),F4S\RE$N.%K4R(X7V!))WVW
M&V^V@%TI7>HK*4)40D$-CM1LD;)V3[NF@*:`-`&@#0%JANIPI.P4A24)4D+2
ME120E2@KX5@$]01L=`<1VAC.RE2"I3*5?#Z41QUE#0[!L_'2I;B(T]+P[@X@
M!('3MT!Q&,#I&LFA9N_45%GFL"#+IH>2R*]IV^BT4YY2WJ>+<R2]8-5S8[5%
M!6>\@]Q([0D!5/251TK?=/HQ:UI[9]LAIE"2TM;CDHD@>BA*#W*WZ?1K2Y=5
MJW*3X';'M.]D0@OZD?#+SMY&FYAFU?35&5JFX?!I'"&:":VNOCRY7<T\U*?C
MG_A!Q(!):4$C;K[M?,.]=\^5RZ5U]/`_;/\`XE_\3XGU#VCYJ[;U<FG7PHJI
M<VB?`AO0Y/<8?84-YBMG945I`L4S:R?4J>CM.S$QVX3'S]>RXEIU"''0HE>^
MR5*/N.N_;/JM7+D85W^FX]K]4_\`A'M&'@3OJ$:Q3W+_`-Q]5^`_(+DC.L6G
MY1R7PQ*S!O#?F(4S.H0QE#]>]71):Y176V"V[*>Q:+<W96RA2"VH*"CU2/HD
MI_W#%JZ-T/Q3WW%L]I[K+&QVXI-[*\?P'4K/(;!7YD!A?$UU`HIDMJTGVSM1
M"9;&0-Q*QYMBMQUD/97DMVEQ+02*F*OTFQWN=R1MJJM6NA-V>#*3,[ADV[WN
MRDX\M-6_/UBPF2:3EN%/H,'Q*2*:WM9]5R!E=Q21\:8J50E2&'F_1MS!LW;J
M5;+=D)5%8?*T.`.=BRH"ZL;$RBR.Z9:T3=!]HG'F)L1FF1CE4&"R(:FS4ML/
MN(98JVH\F8U*0O=WUZP..`H25%7N(ZQ[F/6;:XG'&[KE-IZUWG21QOC"&764
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M6,N\D9.NE2O=.'&H4Q)O;&1&AV;J8$2:.P.-!#R5'M[?UVK_`+5A+&BLFE>)
M\[[]W.&=W"=F&BK]GL.BN%0-^)&=2<8HY^,U,SB#D&=!K;>*ABX*Y&'9(A-M
M:J+CTIURS92)*0XZIPMO)*BD_"(W>\KKJC=9;-]*>1[#Z3Q%8BII46GM\QP/
M%MH(\8_'UD*"@QPAQ6T%@'9?9A%(GN`))`/;])U4+8CUTG5M^)(+63`:`-`&
M@#0!H`T!12NU#BPE3H9"2\VP`IYM"]^U:D++:.P[?LM`:_S:"I2&FWG5@H[1
M^)92I"D)470[)>99>2C<@^BIT@C8['IH#6F(4\U^+<C^D9$9$A040]'@.1Y#
M]B4K*0HF0AXI`V';]W1[`?*3',>\8L`@R<0Q'[0OD?!:BORFXE1L=K>6\:A-
MU]I8Y"N3-JV&+BE*/J]J2\I"F0L[;$;DZI;&,U-\:_B9%>W:\%M`E7VFW*1(
MW/Q<L8F$]/V6^/[;?3J[ACN,.9;$8+5Y)P,E)*OM..2$)]ZD\LX>HC<@#9*:
M+<]3K`-"=:<!V$>=6O\`VF?)LX.1W&Y$6)S3B,1WTGVEI+BG(].E]3325=SC
M8[0X@$%0]N@)K>-V.8%A/#7'&$\4Y$YE?'V.X7`9PW*1;1[T65:\\^M-LS<A
MJ-]<0K63ZBVWV6_24H+22"D%0#YJ2^74O!UM:_3]-SYAA#P._M4WOMZ:E>\]
M=]`7-I4RTEME?8I'?V+2`CM#A[E]&PG?=0Z?1H`"'!ZBQ(>+[S8:=6[V/(+:
M=R`E*T[IZJ/OT!12%*#0/I+])YM>RF@E(:0CM*&PT4!*U'J2=QO[M`6J:4LG
MU`RZ`HN-%QG=:7-]TE9"P%!/W`-]`96TN*D%2U-EMU<8K;2UV@+1V^NI)[CM
MZR]S]S?WZ`\8.P^C_P"%D;>[V?1[-`>GWQI_ZR_+_P#[S-S_`&ML2T!,/6LG
MRQ;X(%KB@A"E?0-_>?Z@&YU&^8EP1@U/F$*(+X_L8$%Y26)+BTH]ZPVVA:B$
M'VG;8>WV:S\Q+@C(BY3L#+K!S&D>A85]8\W)R%'>\AE*VW&WJV(V%,M.!+O5
M:U!1(*0/83I\Q+@@+IAL-AS=*$NN.%;Q2-U/E([&G5+))`0T`@)'0`;^TZZV
MKCN5JM@-&WLVZF#-GN+C):KZ^992@^MQ"OEXK2G260A*BZX4M+V0-U*(``ZZ
MZ@B?6>>/C-.Q6KS:PY%K,2QFTQK&\G9GYIOCKWRN73)\''H*Z^2M<]FSL7:F
M6X&_26$1XZG%$`C;C.ZXRY4D<9W'%T5!=3O+#Q]@/Y:Q)Y:X]8=X_@T%QGC$
MC)XS#F*T>438D&@M[%QYEI`@VTN1Z,=Q(*77B@`]=2H6^>-=YIUWP0G,W\R.
M',*PO$<\B3;GDNIY#D6<+C^JXDI)V<Y5F$JFB2;&Z51T-<"],8HH,=1F=RFG
M$*20A*SLG46Y=<)N'!F5?=-AQIOGCXSU7(V(<57O(U7C6;Y[+MH&(T.3L6&/
MR[650X[&RJVCNKM(T45%G$I907]73D1;%Q;;@0RO;6BOMNE$%>;=*(E-C62U
M66TE5D=!95EO17L8V5+;5DP3H4^F=BMR(5FA;82I+$I94@;CH1J22!0Z`HKN
M*2$K*%$$!0V)&_0[;_<T`GLCJS8X]9U@?4A$FKL8B@KL+;JY,)]I*GN_IV=Z
M@"!UV.J_N57C-(G=KRI8O<;,X14JW$M>%3S*\A87;\?YQE&'6ORJYM/9,S)+
M<&)(:891.:D.1O2=>46GTEE74`;[Z^"_4.)=N936JU/ZV?\`A?N':Y_2UN_*
MY%2Y$]J\.++<&Q!WD#-,1Q$3GJ->2W3E7%M2P'6&E.U%EZK#S8=;*%RF`I""
M`=B2?:!IV3M-UWXN4ITJMW\#SW_E3ZXA@85S&L1MSC*+=:NNG"C/O]CW"N.5
M=;44D1^SCPF:.JQJ\KJZ2(\>W8J*E-'&DRW6TNI8?@1]GG2M04XCM_7'7Z$[
M=:6/AQBM94W^'$_E[]2=SN9'>IY&U2FWOWUT\D<V/P;CU99XG?0?F_1Q')).
M5R(4EEJVFSY9HUXQ&3(7*>AMJ,9O\:U'<6HI:)4E/=VZYRLJ]<Z\M&]R\-#G
M+)=Z/-RJK5-X_;'H+6^'&EL+43&C.NE-A+7'B+"C:1M_5_X,$92`%;A2-BDD
MD;ZDP2AZBFOS5:41UV9"$,)4?14\I(9#;;BWF7&DC9,IJ3W*2DK'7XSK?*DL
M>"DES:5U-[<8KWDM3;9)<`!=9``V``620/I(^$]/HZ:8DED1YI*C\":LCW>1
MQ23WF;V>W<_1K:<8+X7J1W:L0_;FY/U%IWV)3U(]@^_][4.[=N6XMQBG[3G.
M5V*]V-8^LM4HA&X">_I\))`VWV)UMCSG>^)4)L;-CI<\YT=/`T9,Y,-E4B2I
MAMELA3A4[V*+8.ZRCN(!4AO=?7IVI.K18MMKXGS;ME#SMWN6-UG:G)1BMCTJ
M_:Q+S<PIE48R)NRKTX^:M5JJS?2ZJ$S#0AU3L]Z6E09<ALK9["E&[JG%``:S
M\K"M*O[/2IHLFW-5M2K[/P&%G8Y<\]4-1(R/YK'L15=U%]7T$9H/6MS5Q);C
ML%NY*766J^+//QNMG\:E!3[-SKJK=NS[L6VCRW?<"_G7X7>:4:1I1*M=1KYF
M#\^<=LBPQC)IF52%7*:*+0,P0_74-!'[T,&9"DRMWEMM-;EU!W5OM[M9JMIX
M_([?W"RVH.3:?#^`HXL[.N4KVJQJOKG*:I@1XQSS,16/4<V3*E,O)?Q3&#*#
MSC$Q](;7WJ)CK2L]W7;5G#.4,56J+14]/S./;NS=PN9RORC+D>NQ_E_B/1RS
M"BUW`7*5='2MEF%Q-F=<MH)W+21@U_W=>O>^WZ9"C^"5[GV:I+V+"_)2E)I-
M^'%?F?;NS6>G92G[KT-3Q7V/C'X_%)*DGA#BKM*NBB/R(I=BH>XD>W4-KE=.
M!,EM?F2#U@P&@#0!H`T`:`-`,GY"\QU7`G#7+7,5Y'?L:CBKC3*>0)E+'4VS
M)M6\=KI,\L-+?4EAQAU32&E+(6&5N`K3V[Z`^.GV7?VE_DOYA\C1L=YIX6F8
MSA6><.P.:,!S;'>-,XP2IPR0[;PX<OC6]R7-Z6MQ[D"9]73A+9MJ2483J&74
M)2I1;!`^^LGUI$50<*&'7FY"Y!0VEPK]6/,9["M;;1*4I9!![0>OLT!\\/`K
MC+CV^\9,,MK[!\,NK.9D?(;TZQL<1QV99393V?6SC4EZPF5TF1WQ4-!"1OL4
MGK[M:0@H;`3//%'%#205<:<;)D%AR2@-87C"?EPTGO\`4D.*KT!M*"-R>Y.W
MTC4KYA\O+1;`<6^QCAS':>TO;K$..*NGIV_4M)\[&L?9CUR$,J?<5+=3&:7N
MMM.[09]52CL-NNN`(22^+G/)BOS"WO,3QKBG@Q43)V,5HL1Q.EB<@\J4U36+
MD1,DR'*X-:X]C6(6,L!"HC02_,9W:<*4K)UM&*EM!S/'3G3COQ@\`_%C*<KK
MI8J;7%J?$*"CP''9-I*?L)D_)+%4.MH(A5)BPHU?4O+"4J##!2I1'4C6+RZ6
ML=?,$G*'S2\>LLQZGO\`&N2,2FN9#QK9\RXWCTB\AQLGR3C&LJC;KR&'3/KC
MS*H*BK271+2D1>U1=`!2=0)Y<HR44EJ9T,>%^;7C=FM?,FP>5<.@2H6:QL#?
MHKV[K<?MVKY^,N<MEM-K.:8LH;5?&??$N.51W&V%%)U)M7'<568.Y'\O/'6=
M/565G,''DZ9&K\7MK9#654P^HZC-)(A8K<6(7/3_`,%9!.6VQ'>2>T./-]Y`
M4-=W&ARG<<940^&'Y;0YS01,GQFU@W5)8_,&#85SR)$9P1Y#L9YKUFG'67'H
M[S2D+4A2D%0^$[:Q0Y]9\$*5)W`/TZP2(NJ3,C?[HW_FT_Z(:&3Q>?X61H#T
M^^-/_67Y?_\`>9N?[6V):`F'K2Y\#\@8WW/29<<+B60A.Y>6I*$,C<`NJ4OX
M`EL'<[^W;5>8$*W$L<B=F/O2K2/1K+U:Q';=+#T\)0=[QF?$=;=9@/\`X#;8
M'X7M/NUD"AJL9@T]>(D(RFVU'\>\J6\_)E*_6KDO/J<4XI`':#TZ:P#N;?@_
MY5"4#[R=]B?NZE8^QF1I^:N/I_*&"6.'5_(V5\4R+-;8CYYACE.U=X\ZD+#T
MAE=]&EU:D38:W(RDN(40'-T[*`.I(($2OLK_`!^E3N/IAOL^1!XYPW%L5IZF
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M+X1C#*H^/8MCF.8Q4Q'&DM%FIQVL:KHC*DMMH4"^E!=>"BHJ>423J>31P=`&
M@,;K7K)#)5VAY7I*W`V4E:5)*"2#V@[^WW:TN6>M!Q?`1ER7(7/Z9)GSB\F/
M"63REF#.;X5=0L>O9GH5>3)L'93L=Z/#:68\EN,TE84]V@#W`CWZ\3D]AAD9
M>Q;3[W])_P#F+([%@K`4Y<JV4;7JT:6GEL(2>0_%68^!_&#G/E')I,]S%678
M!Q[AUCDT(,X#QU;<CY/`P^QY)R]EEPV[^/8?5VKLI7RB5.^JA"=MEZ]!C?35
MK&M\VG.E7TT(/U9_Y,O]X48N3HXO:W77UL1DWS3\FI_!>?Y`[>#DN^\4>>\+
MD9;G?"&/3XU+SI@=W965798W$Q=]ERU=-'`=B6+TD)"W(!0\E"CNG4[&N>_T
M:Z5/B.;+KW7?]/(:)KR=\Z.$9F;-7F09+R&QPNO!,#RS+L[J*I[$YUYS';V?
M)M7RV(]Q"KX=G8<>8C.@TBUH=C1FVT]A4J7VMZG7(J$J1V$NQ[V/%^+,U]YC
M^;3?*%#GMU!S/C_"L.H\GRG*>-L:P?)LCQ',,HM.+,$?K(TFZD,QK1%2U>6L
MB<J+ZD6*PQ&<;62X%;:(K,CXGZQ2\>_:A>>>3IP^Y/$N`Y%2MMU-'F-71X=F
M$EKD2RMN1.0\+5D..7$!88J6JVHQ&-8.MELQUEU8]1+9;47<52TE_E1(A\*\
MCZ.?9O>7O*'E1CW,-AR2]ADE[CC,<3QM$C`\?R'%X=%.M<5AY#EV%9#'R1R2
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M>S?,;_#F9,:XK<&LIJ'*",&EJ[H"X[/9)E5_SB?5#+G8D*`.Y]FN?S#+SMG:
M[^/17JLE6Q7LMLD);6TP\@=T=;+"&UN)<:<,KM#04'U>DD$@]H2``!J+?R9Q
MGIP+C+=FW<C;FEK$VPRV%*5Z;7Q%*ECY>./4[2HCO*6@H]7#[]<OG+AK;P\7
M(56E7;L7Y&`0F.U#6WXE++S'I)"&T*2]Z/<I0;2C=Q!8'8O\)(WZ]=2H7G*"
M;K5EK:L]NL6XVJ+GCX+\AL.=P&^%.8'=@I:>-.0'MU`?&IO"\B[?4"=MQLO;
M[H&MW>;IZ<#G-Q3_`$OA$SXO[(\9_'_M``5PEQ8=O</_`)B*0[#Z!UUQ>KJ:
MD@-8`:`-`&@#0!H`T`G,HQ/'\TI+?&\HK(MWC]_73*>[I[%EJ9`M*BRAR*^S
MK9,>2AY`B64"2MI]*.PK20=^X`@"&_BQ]G3XW^'EM=77#XY2DS[/'H>'5*^1
MN5<NY'1@>%0)KUA'POCE&439OY&8P)2VB8L0I3M%92-DI4%`3H*EI#:''/5;
M2VE+\A2MU@.IGH:0K?\`='^NZE>\GV:`^%GB1YKW6'\,,\<8S@W&'UO@>;<H
M1+W^$[R"X^X]L%Q&,YOS5N5>..RY^1(4\VD+6NPBPVU`_"3TW`DA#\F,[Y+A
MOP[7F#Q`\?Z*Z6[66MM7\Y5/)O(41Y22R\W02HLJFQ&'-EH44AB86Y,11"NQ
M9&Q`WJK#?L^C.KKC(^>\4S[(5-%;UGR%Y/2<A%]/C.`R)MGB?Y=JQIF2RZ/Q
M`;AH;;1\)2=`29O_`",\<F,9NV(/./"#(;HKEF-'C<F8I";;CKJ7FS"C,MW+
M#*T%#02TT0HE9V'4ZZV4G+790$+>*/%KBCR]^SV\3L"Y23:VV"4-%59BK&83
MT<,9*ZB5D,:)&F3DH=0ZPU%LG7MDO#=24$@CN!YY>QOS_(R4F?91\13,QB9Q
M=\I<F6=A1\$6/CU2NVD_&7&T8=9X.QQX[+J)+56^BN@*H4I#\2+'8B./L(<*
M$[$&ENK]2/$49P+'[';QTO(5;3IRSD6K;I\>S#&_KJ+.QV-.ESKZ=6RZG-D.
M1H`C3+^LC,RJZ`DJ0EJLF/IVW.^K''HHF-AQ,\^R3P]Z/Y$Y'QAFEX,QYXXA
M<X1HZ[)Y#*\$X_PQR\Q6RHK6E?Q^L^O(EUBL3$67*M3G>TB4IQ!.P*M2W5^P
MC7567J/JWPIQY6\1<2\=\7TZUOUF`X?18C$FO+"I-HW1U[$%=Q+"2HM3;9YI
M3[J22H.+.YWU@Y-4'1`"0`/<!K4F0^%>1>W^Z-_YM/\`HAH;'B\_PLC0'I]\
M:?\`K+\O_P#O,W/]K;$M`3#^(]$!*E_K`H[)*OUH41U`)]NN5YM6I-;:'.[)
MQMN4=J0C<J5)?KH<'U&D,V4SY2T]0([$1M^XH05)/=NI`'WM4[N3XD["M0O6
MW*XJN@HX$*/%:;;CMAE$5AMII""0@MD`;(3OVA`/78=`=2,9\]WEGJJ%?*36
M1R+X:,Z1<6I/:3\/MVV`_J@;ZL.C;X?>=BS6\81A\(+%MI7L2-E`$=R24J[3
M[4$I(W03UV/3?6P+/EVMTGM/<DN'N[U]RE.LKCK4X>[=PEEP@=V^W0CJ!K1P
MC)U:U-7",G5[1H^=.!N.?(3C7)>,>3\?8R#$<LK7JRSC+DO0)S!<]-+4ZLF-
M.M[38X:"0LG<-E39^!:DGM&<X*D71&O2M\",/@I]G+X[_9Y8GE^#<"T<R*G-
MKM.0W]K>.)^;LYJ%251WHK,-2:J,_'8EJ90IAIL%M*4GHD;<I0C*3DU[S,].
M'`GC]60BA"51BDI0AM?>M?K.-I>,@1Y;B5!4EM#ZB>Q9*=_=L!K'3AP'3AP-
M_P#J?<'L'W!]S6YN&@#0%"-TJ2?8H;';H=O;T(ZI(V]HZZV4G'8&JJCV%O8`
MYZJ2M+G>%J4E:T]ZDI[!Z@!V<2$^Y6XWZ^W7-1C&7,E[Q'6+84N=1][S?YG$
MOL7Q_*:V;3Y'51+FJL&7X\ZNGMA^'+CR4%MYA]A?<VXTL$'8CHM(4-E)!&;^
M9DJD5+2G!>1UE;C*E=Q'G+J3B;Q6X+S>=@7'6/XI@W%.!WO(#F+XC7,U)=AX
MI$?MWTPG$+CLM3G1!V$QY3PCJ5NXA27-C71]V;N1^,VHFJ/8?-KFGSRY@\?_
M`!]IN8^0>/N+<CF<CX+><NX+@>*VD@+LZ!K!87(5-B68W=Y7,+Q:2&[6,N;+
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M>"?#C4<5SX6UE*VVNUM9#CR2ME!`)"W$]R>YM)ZJ&XW'OUG#L<DJP6IKGN_'
M&;S9<U%P2^X^??+5SQWDO(CMSDTG-4Q>+$O8Q;38#)K:.DR"X4S=19;DZ):(
MD.29:8B`T4!2$!82H?$=>OPKMZ,UK[E.!^>OJI_-7I8ECF<6U71TK6M!7^*G
M$>'4V/O9[`IKB/=7$BP9^=R)2TV3=7)L)-I5.P2ES<`HEK(=/XQ07[>@UUS+
MU9<K>W7S/5_17TO@Q<<J]:K<6_FEM\JT)@M5L%3Z7S%:]5"%`+`()*E)4I:M
MB`MU9'Q*.ZCKS]]0;TVU/M,;\K-M6;.D%NT?WG3#:4K[P5@C\%/J+[$?<0WW
M=B!]X#4=Q3VG*5R<FVWJR[;XBHJ623O\2U*`^XD*)"1][;6CM6Y;40[V+8R)
M*=Z-9)<7^!=OOK'0M</O-[=FW9_;5/:&^ME;BM$M#6>-9G-W)*LWXL:;GK_J
M2YA'N_@IY"7_`)[\C+\;_I:SRH[1BH?");Q@_N9?'S_L0XK_`.@]'K8R2!T`
M:`-`&@#0!H`T`:`-`:CX;D+(<;4CZO>9L&U)4L)D"%#<>4VI*5`.=KBR=COO
MOUT!\J^/;?F7GS&(^=XQXG>)SN+7N19B*MG.KZ?$NGZNERN75SKN165V%WE8
M9TUUM3G:N8#NK?M!Z:A.Y>X_8=GCW*TKJ.`>._(9/JD>('A4$KV<4A&;VZ$^
MJ@]QDH1_!J6FYKA_#>V]1?ZXD:PKEYNB;]AK=LSLVW=F_=BJLUY&)>0,)M4I
MSP[\-6VT%E#IBYS)4X4./-M'N;3Q>D.([G`5[_K03[M65BW7]PJUW&R)M$3F
M*5`NMO&#POL5X\W<.WKU7E-@LQ%0?5>;9B(=XWC"5W,M%#:@L!2SL=]6;M8]
MNWU(54G3^/M^PV69&X^2'Q$N/%'D.%S'X\<.\HU^,1L"A9SB$+(6<'JEDU^,
MHCO&NCUD&2TB*?D/4KEN%HMA+@<ZC8;:JLOX?3S-NK<VUVDB6J^,E*4-#T/3
M#006UJ0I*&@I*6TJ![@TH*/>GV+_`%V^J2[^XO(D6;C:?-J94US*&O00YVQ^
MO]C)5M'ZDD@L`^G[23[/;JPQ_A.M5P,A92E:E%7JJ4%#=2BH(2X?B:;&^S;>
MPV[4[``[#IK;(N3A/EBZ*AI*$).K6IA+"@3Z:GTH)*@E/IJ0G?VI1W@E#:?<
MD?"D=!KAUKO'[C7IPX%1ZB1L5M[CI^,4D+_SP20D'[VID76*9TI31&PU^&WO
MMOW(]G4>T>S[FM@>+W_"R-`>G#QI<7_"UYG("B4-^1ZE(1O\*%O87A[+I2![
M"XT>T_2-`3,>'<TZ-U)W;6-TD!0W2>J2K8`_?URO_LR\CC?_`&9>0F+F/2W=
M?\D[8-O)4426$P76E3*XQU)#BP(COS*25#XNP[[$^[?5(6?;J]%OP-7&[:SD
MV%E56\>/'GUI3Z(BMV28TBF6`F'.093KC7K.KV"C[_=J7A_N^HJY_P#*]3%K
MJU.X:`/;[.N@+@A!&ZW"@^X;[;@>_P#3T!3M2E7<@]_38*/Q=#[0-]P.OT:`
MQ>BT.GII`[N[;;]=O[1OOVG?Z-M`9-C]!]F_Z'TZ`-CH`T`:`-`&@*@'<ZBY
M&U`X=W51KV-)I["L@6E7.KYD*SAVD%V5"EUU@E+4Z"^4K]-;$MMI(<:4A25@
M#<$:C@AJ]X->+L:GO\;C\%X/<X],9R":[36L&VLT-+O:9ZOLZ:(]DDN7$347
MD%];!:;2AB(T>T)`(VG6%^DB/.]*,J)T0L?';Q6XP\>,AYCS3"8TR;D?,-OC
ME_EEC:HA-F(YBE1%QC&\0@RH;+0?AXY40D1V5;J4KM*BHE1.NIIUY<23MK:0
MJ6)(E2W#'CQ8Z'%)4H`HC-#_`(0>41L.Z(-]STVVU!QZ7+SJ]Y'[CW%]LM]9
MMZT]-J&>R'R$XSHVXKK%\BX^M+.DI1$H'D6<V/\`E&X6:^[#;Q'IU[1;V60.
MT*)UZBWV^Y<M/E6Q<U=U%NV;2%A_6F/=FK<VG[U-'M__`"V#JV-NIJNL%,)"
MGT099922@;O)8<],;N`MC=>WX0[?IU&Q\=5-/J+O*N?IPIM]-Y$?A7CZ+E&'
MV=7R#+<R6+D%DY\W37M/0Q'ZRVII;\6R:E2*MLR+>RL7T!23((46QN/9JTNQ
MZ-GFCZ>F\\EVSZ:6=DK(FM.:NS[-A+VFA083346%7MPHC3#$2,VEOL(9@M^A
M'0E&^R4-,I[4].@Z:I<K(>T^JX'9[>'C5@DJ+TW'="4IZ@`'V=/HU5VKKN3:
M9"A<<LB<-R1=L?H/^(;_`.-J02"FQ^C_`!?XAH`T`:`:?GK_`*D^8?\`LGY"
M_P"AE_H!+>,']S+X^?\`8AQ7_P!!Z+0$@=`&@#0!H`T`:`-`)VZMZVC^8L;B
MXB4U7$KI$J;-LIJ:Z%"9*FH2YZILN0S5LM0/62ZLOD`'V'KH#$G(:Y<QFJ;M
MJY=G,<L9$*&^ZF/)>@1FD;W#5>B:JQL*1:]_2>82J/L0>[V:`[JG"M:=B>Q+
M#RT="D)]1J:AQ022HI"DH`]I.P&BVBM-2#OV?KS0\5L)+Z6XBFLKY"7*CNJB
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MUC-GA[-3]?UP6Y;IF1GXLF1`3%9=4$J/<!1W?W$C6Y>Z2IO$9"^U6YPR$YK1
MT/B_,DVN"\@\;\7L6,[D1NIAY?D'(5Y2XS89385S6/C(,7X_KYURJPJYC3CC
MDROCG=+8!WL<>CC4Y_-HDKY-^4?-W"GD1XN<;0[#&9>*<OM2:#*:6IKES\HE
M<COVD:OI`D2K:FM*[BQF<IYF=;5`F3(J/06\PMM9.M<K]WU(L,>YU+?-XD:Z
M?[7/D7).0N/L7:\:9\"@SSDV\X?3D]KEBGIT#D#%9$V#?PHN,4&."RNL2@9)
M6_)*N&4.,J9=W5V$D"/4[B$PC[6[G5ZOQVKR_P`9GK[+6>*,UY-RJVPZ]$+'
M;O(<6;S5^/C.!5=O4R[>]IX/Y/LU^0M%UJ97S)4=<=)*MM6$/@7D"8WC=YR\
MW\J<S8KQKR+P94X129`WDE:,KQ3,+S)XD'),5P/#,X1&373:N&ZY3RH>6?)R
MG'%E]$^"^ELJV)UL#X+]Z_V3?_BO?5_`>_#_`&?M_<?\K^Z:`]-'C[3&5REY
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M`M+@=4!\RZTAPAM!W2-U$>[4O^YQ>E%Z>HY8UV.6ZQT&R?Y$797C5/BD*39I
M=6[-FS7&9C,9N&Q+4U8)CNR&T172AOM*0TI1Z_0=2+/<K;K[J:\OX&W<&^T3
MMQEKU4WKKL]HG?(+D7(^.L`_*+&JUB>M^97PY2[&!96%3555K*1%9LK"-1$W
M\M3#A!#<8;C\-9"0=0LGND4G1)%IVVRL]K31["/6/^5MO#8P6TO\?_*2#DE%
MG%O<NX8OZZ=F_D$\Q#-O%6AP"-!B(?27&7$H>!':X"1N8D>Z^ZG30OLCZ:4\
M:D'2=:>W=M]@YUKY58'`O<-H'(.3OC+V<><JKF/61C&?L+XRVHU.XVY*;<$F
M<E'J!1`".H&M_P"[)[D5V#])Y%FXY2;?"KV_:=;C_P`G\1Y$GU6/T]1DL2VN
M*N\GT1M(2:N'D#>'VCM-<QHLPJ>:[J]QE16I)^+;5G:[A:Y(NBK3TW&,GM/3
MO2BOA4J#33.<^5V)_*&31A@4OC_C;D=^AFU[S5I$R290M?),2)JI"I!CN7``
M)B);`;D`A6W773^Y6T]WL_@<H=I<Z/6CI]OK'4/E1@!NI%,:C+9<9_YF$S<H
MK'$5#MQ6PU6+^,LOI4%"R8CH[B>A4>FM/[MCIZ1V>G`L/_J<Z5J_;_$XM5Y>
M\>6D.PM3$R:#4P\5.9LR;^DD,C)*$2W8$9BB0PI"W9T.T26RGH5^_IKE>[I:
ME;:BJ/=Z_4<KWTM.%N4U)MI>F\V;7R.AV/'W*608Y37]1D/'F(_6SM7E,3ZL
M:5-L:63>Q*=AEQ?K2%F+%+O<%%81T3UVU6?W!T\C3'[.K<XJ;JWLW_CL&:P#
MR[NU5]S;YD*O*,:JZ*NM3D^`562LOP;I]YFN.(F!DJJYV9:QWU]I<9[F23UW
MZ:Q+N?*JLL+O:H3M)15))ZZ+5>FSP'Q5Y2X4B]@TME597$#KE76WDURJ6B!A
MMAD+'?4T^3.(G23'MK4D```=H.^XU88_<[<DJKT]A!7:+E'5)TV>/VF#+O(:
MO9QB*K&84N5=38]L676(OJ5%(_5RFJJ1$LGY,EESU5)?"D]3N1OTZ:YY]SYJ
MY"5NJ27X^HZ+M#>CV+[2RO\`*;!KRZ<JXE3D=="9N\DQV/DLJKC?4<R]Q@.+
MLX3+\:W^LB2Q\R0DLEK=(/<"-A(QG"*:G2ISN=FN**Y-9?A[357Y2XVQBUIE
MT_&<EI8$!,6-1,7]-'9D9:W:+<CXX[B3_P"47U9+$Y;0]=+KB7"G\-(]\>]<
M3RI<KI'3R.5OLTI9"4E[K2KLX:CW<:\DXSRCB<;)<?5*F5$Y:H;OS7R:)-;-
MCO+;4A]N!+GPT/L+;[5%MU>Q3U(.X%C92TUJB'W;M,E;2<5"?!4V<=&=[**Q
M-]46E6\M+RY;$V%*F)V`C)GURTP$I3]#JE#N'L43UU:]IN6U>^&+:>]+CKNX
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M`)2#)7,(0ZD]JM4\[CN/>>AYY[*NGF.RWY]>+;]?FM](YLQQFDX_SAKCC+W*
MP9#:RZGD";$7=,XO$I:G&'K3*_D*](<^<JS,A.,?,*<>2F,O>1C6G#FFUN1K
M2*U2U,4[S!Q)_DBKP;CC%\UYF<=Q/!N0<KR+C=[&['!<.PK.YJ9F,9A93+RZ
MQ67:5V0UL!V8V*I,]$0A270GV&L4Y?-4J]IGPWB#QS[3WQ!R/)['!6^3ET>1
MXU'^M\I;R2CR1J&Q4OP95BAR/D1Q^10V?SJ(&[<:%*,M.Q"`KJ=7DUHO(P?0
M?'+2/<5$6QB.R)$>4D2$2GTR6T2%2$ID.+B,3DMV$:*EQTI2A]"'$[>S;;6@
M.YH!I^>O^I/F'_LGY"_Z&7^@$MXP?W,OCY_V(<5_]!Z+0$@=`&@#0!H`T`:`
M-`,5Y&\,XSY!\-<I\,9GZAQ?DKC_`"3#+-,4EATJR&O775LKYXK2&+"FLW$2
MXZ1N%^G\0(&@//M]AV></)#E3D'R[\C*RSKLH\<N)Z#P!P9<F\BV59:S^))C
MTCE+/(=:UVLKE9O8HAQ4E._I+"T)Z#;0'I?7VM>O,4\M+;3[,@>HWZ2HC[T%
M5?`ANQP0@;ON[K0!VE0)T!\W^)\-\K.),/5B#_C9@&>NT][D[S>05_-S&.P<
MG:M[R?9Q9\2J=P-YG'EPFI`2\A[U4J<[B-]]];5E6M74HWBML=ZORKRKA*$B
M#X8\;UL]"3N&_(2N;7VI'5+:QQV$@G;[VBE-;&_:9MXW)-2X';;Y/\SUN`+\
M1L,`41W*_..K%GH-@HA''862/=UWTJWJVZDVLN+./D.=>9%G6V,$>)V#MORH
M4MF*_(\@XSS$>6]&=9COOH3QZM?H-.N!2BG90'L(]NN%_P!V%8Z.ITM-N6NR
M@M_%;BF\XF\=>(..,]A4R,KX_P`.;H,J@5<IVVJX=FS<V%M%CU]Q(@1(UA%B
MF:%!99"TK2"D@@ZB.4I;6V2:1X:C^OT=5ZJY:F(;LR8QZ3\J:U#G*^J2#\VR
MXM3)4IEMIP]J%$I'<=AU.HMZW*Y*+6X[0A%VI5C%KR1E8J*3N>=8IX!0MUJ1
M\XN%%4J<6@GY2:M:F>Y3S00`%GXAL-CT&K'%E&WMVE19C!Y<DTJ&O8Q*]^8$
MOQ(ZEJK9B'IPBPG7(==W)3*AK<<=9E-"07OF$*0?A^641L=3+DH79<R2I3@7
M63&,9I122Y5L$SQ[Q5QQQ]B=?B.'X=C.-8Y43+)^MIJ6#'5#BO3K%RRE35J=
M,A:[2PG.&5(=[RI;ZN[?<:YT7!$<6;>.4[3B'XU32-K0J2XT^F)%:D)7-+:I
MC@<0TE:%S%-)+I!W<[1W;[#60;C42*AZ,H18H<C/I<86EAK=AT(#!=87V=S;
MGHCL[ALKLZ;[=-`>-#<_2?\`Q8N_M/M^G[^@/3_XTIWY+\R?:3+\E;5L@G<`
M-\:XB!O]'LTZ:\!4F)MKI;M)S5:4-H-*2;V"<S):T8GD1;4A"E5,MHN.-+?;
M;0\CT77%--!3B_3:<4H=H[@1N.HU7]RM\J;M\/,FJ49:)IC<U$2XD,")0S*R
MI@%V+75C5K$?MHUO6ML0GC>P92%HN'9<UQM36S_:A!]F^VO/8$97,UPO>Y;4
M7J]%7P;H1LS&>38Y):*J>O$SS8#`>MHL:OL[JX19R9C,UVJ@S&:^1DC":Z6]
M#<<M?68^5;'Q)(!0D]0->@^1QY:\\&_-'''C\FZP=95.]08C#J739I38JM78
M\"O<7++OII77PHT8J88,A]IE"MB>Y.P/TG;4JSV^PZ^_'VHUSHKNLK;G[L;5
M:5\34Y$P,9O3"A=M[>GG09<2WK+.@DNLV*9D%X20AA*MJZ4EQM)3Z<A00HG;
M4+([9;DJIU1:=OR%@)<K&II_&3$JB-3Q&)UPIV/39Q4=DI*&%RD\@*C3\@FV
MK<4JKXDV.XR.Q#)+:E'I\6^HL>TI+1Z%E_\`:;_S:MRB^1).NZOG03_YK.*,
M7M;DB+:^8CU*<5<A1FTLK"96&MS35V4UU45VQ9B.M3=G8C._K.[E6W7;;^U+
M95$SN'U1.-M.TJR\-?P'(P?@/%<2DX9-COVC\G$(.35$&1)++3JX&5RUVDM2
MFV`AEI)D+5L`!LD@'KOJUM]NLQ@M8UIQ*;^\7+T>>:?,]?6(E[Q?JY%_D=HS
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MS5G+M>-%-.2>PVR>Z0BU*VT^5/8^-/R'KN^(Z2^PU&`%^SK:EN-C7I+KS$CK
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MV,`/UKN.R+20B5&I'*QMMNL735,MN0U!994VH`*9':.I]NHEF%QSK*,M?!G*
MUWM?,ZM5X5U'SXWP>LX]Q^'C<5<J2TRAU-C)F")\S.L%..2"\H08T2(I2O5W
MV;;&R=M]SN3>683222?L(7>N[S=KG:H]:>1Q^1,BM:&ADW<&!#LGVYM94QA+
MDK@PI$J\NJ>.Q)F(B@R'U4J7.BQ[0-;=NZL+TG.,HJKVIK3PJ>8E*UG02;B_
M7_$1:N!*RVREK)\F=:O[)]'9?UKB*\XW=;`I;+D9Z"7%JC*ZH4KXB8S9]^K'
M+RHW(4MOW:;-Y6O`Q[.1"DHJLUO7$8;R`^S^X=\A.3<?Y*RA>=4-S42^/[.U
M9Q;(YE;C>:2.*9$E_CZ+R'CC)1$RFII;*4\N-%6"E"5#O^$Z\[6X]S/7_+VJ
MT;BZ>)P7?LP_&9JCY!J_R:M)Z<WD)GS8%S=6[U8FYIGL[..36S6/L3G8<)7(
M$IQ,`+1'!"1OL#J-F.[\O+EC)RTTH^/@:2LPA'FJJ[J#/X%]D?@3>,Y&US%R
M'G?(V:9AD8L<FR>LL#A#>3XH*S"ZN#QGD51&%H'<8K58'7.`MN(<=]$`N(.Z
MM.VQNR:ZJE%^)P^\7U#]EQX\XW2W+..2^4:;([KD2/G[^<R<GBR<ZK,HBU-Q
MASLANZ?I7I$IRYQBS?KK$N+E&3'>0L/`-D'T4W%V*Q:K6E#(]3'A7Q%06V#W
MV*0LNXT5@6!XIQV_C?&N22J+'\DX^PN2W)H,+RI$6(Z_>"AD3Y/H^AZ*)"7G
M&W%*:<4!YM6Y_-5HZ5X#0CQE_P!ECPW;*P2IQZSS?&<9J>5.%>1LLH)DQF]<
MLX'`2,CDXSC-'-7&"Z*%D!MRW<E3CJK6(-E[.+*=7DW5+P1@^LC"&T-A+32&
M6OPDM([O@6L!;P6"E(]3URK<CH?:/;K0&;0#3\]?]2?,/_9/R%_T,O\`0"6\
M8/[F7Q\_[$.*_P#H/1:`D#H`T`:`-`&@#0!H!(YGC$?-Z"]P^W#OU#D='9TU
MH(TR3"E2:>X@R*NYKHLV!)B3Z>5-CR=D367/78VW0-`-3P'X[\6^,O'&/\.\
M'84Q@/'6)P[=BGI8S:I"1:7K[OSUA:6TV;/N+R3*<4MYZ4\XIUY:RM6Q.P`?
MM7X#+@2PKTVHK@4TA;;7S49$X5RDH6E*TLH<;&X(W`&@/E3XL^/-+RMQ+7YY
MRQF?/,_.,CR7D&UOK*-RUEE=%:E2<[R"MAMHQVIL7*V)#A0F$!*HWQI;V[@-
M*#D7@/U?>)/`&,PW;G(>2.<:NLBM+)GR>>N04AV3,04*7&KOG')!<:*N[N#9
M[=O8=*&LH+E;-2C\7>`,JA158_R5S?=1Y#2GHDR!S]GDAQYAM02[(6V;.))]
M)M719#"^U7M&MB)RO<F;V4^&'$L*AMY"LKYS2(]+;2Q+=YPS]QYCY6ND2?F&
M694YEM3K1:W!)V2>O77#(_;]9ULQES['L/DKR/GWE_D_%'V;.%<`Y9RNUD7+
MO$G+LC)<HQ;)*.&RC.:"(+7BN[Y.O[N+*^M:2-.B.M3V%+6J3'<<`02-Q#=*
M+C3\20TX[=!89)YL^>W'^'W$G-\;XX2YBW-6><+5UO*Q+(Y,66[Q?@=!(H$R
M:RMG(%QD/D'ETV1"I9*4H@UY4EQ\-H;)U-Q+<9PE6E50[6I0Z,W55TWG1Y$\
MWO/.H@6<R3P1#I[O`,@>B9)0.,3W:^=DT_C^VY&J*J7-@V4IJPJ,?C"'46BF
MU&.9D=2FE*2YJ)ER=MOE6SUE19E'YN2JCK\:>=/EI:R^,\;Y7JL%P94[)^1*
M.7R",`RJWJN8[:AGXP<9XVQ^NA*+F,WM_07LR<_:3@B$AJ,IGN[G-;85U3LU
MFTI5>A<9%'-<NJY42@^ST\HN>?(V1S4KF?CJIPE>%9K58S65]"F9#<PZQ?9(
MR#BC($V`^7N;_%]F;%JUC+7"F-3#&:45)*=3$T]AP/J='(++>Q41L0DJ#:3V
MA1"0E+14VAL)`[$@_"C8>T'60;+?[HW_`)M/^B&@/%Y_A9&@/3_XTH5_"9Y@
M#;JGR8MU$?0E7&V);'[QT!,(=3TUM#XAR\_NK><RV?AM5TA4V0S&C*0>]3[:
M7$K;;4E;R!'6I!?[T)*>T=>NN%_8R38MRM.M!LXM!8Y1*3<1,DLZ*G9*UU=)
M2!B-$E04I[8B9+SS1>B^F_\`'LD]=4.5%W'0DY-^,["@MM5YCC4U+"I&5L0X
MD>-W*#LAT*<E2ILAT;NR'9KA'<=QLI('MU)Q<9IZ;2N.QJXC;Z:H8#6P#?0!
MOH`T`:`J/H/LWZZ`/1;3U"NH]FQ'Z7X(T!30!H`T`:`-`:BWO1<D/!75EMLN
M$DCL"]PE1W]Q/3?KI'X_81+MOH3>9Q7W$<,[Y[QVAOH.,,MVN17%C=HJEP\<
M9$MZCL:R&+."S9)1LN*YD'S/HM%>R5E&V^VK?&C62KL/!_4?U->C%V[>LJ[M
MU..N\:[C7&,DY*RC*\XRB7EE+C]CF]>[1XBE_P#L&="HQ7V%?(=;<2M<(MSH
MQ;F)2-DK20-]=\KX=.!&^E\Z]E7DKB:J_3>3>C>NOM=?:])QW9QUL=4MN.;+
M6A)/M"%*(!^@:H[B7-1'TV79K=VEV2U6OX\#=UJ;AH`T`;GZ=`5W/TG0!N?I
M.@*:`-`-/SU_U)\P_P#9/R%_T,O]`);Q@_N9?'S_`+$.*_\`H/1:`D#H`T`:
M`-`&@#0!H`T`:`L<6CM6"KJ"P3OTZ-(G..'<C]:AQ)/W]`?-3P:XDP[(O&[&
MLA<D7E9?R<NY5;%WCF8Y54(;3_"-D0[%1*6^=C]^[J=PI/M5U`]F@)E5?!7'
M,-1>L8$O*+!U/:JVRV<_DDADJZ>HPQ<*<:8>;]J5!"MB-]C[-`7VG"/%ERR^
M](P:BB2GEMI<<KFVJ6?';8(;#=9/K6*Y49B6D]SW:XV5'H/;H!(7W`&$0*>Y
M=C6^?.5%?26DROQI'(>7?DPS)CULQ]DL4C=Z7H[[<C8H4XXX@N;'L(Z:Y7E6
M&IULMJ6FT^'V1^7G*'CAP#]G^UAF-5>5N?P!\S<DR*3(8N27L2WM>.WYL5&.
M6LC$L8O[2JBNQ[1SUK=UYN+7I;4XYOT!B<#7+?AL)/0/M8N#9$2@G3,'R1=%
MD]ECM-AN18^BBO\`#,]RB1E^*8AR"G&;>%*K9D!G",YRB*PU:V1;1:Q$K6V2
M>Y(EXWP2(^/;ZEN=-U#/'^UHX+=LGE6G&/(K%$SB&06LWD";08HO&A=0L=R.
MRE54-$6:]/9LKMW'I37S+[8A%M:%.E0V5KCE2TII0K;%F7S*5-*B9PG[6W$*
MVNC2>6>$\PH+:S\C,KXN&-T,FNOLCPNFK;FFH*G*,]JVI3;5:JTNK!A*Q!93
M$2TWV!TNK[#5V:=1UXEY=CR-+P0]'CY]I+@W-G)6'\60N)>1<2S+DZPO[O"%
M62Z=:;GB2$K(7;GE9,ZO4XV]0IR+`Y$!,=Q3DCUW`VE23LG5U9^%'(^L4-2'
M8T=QKO['V6Y+27&/E'4,R4B2RVY&.Q8<:9=2E23U!'TZ[/5@VV_W1'^;3_HA
MK`/%Y_A9&@/3QXU*=_A5\RT#8=ODE-43OLGM?XUQ)+1[M]MR4]?H]^LSBX1Y
MI;#$6IND=I*?(<CJ\?A?,3G''"^'FXS$5IR0^^XVA1V"64J+;9(ZN'9*?;OJ
M,LS'C<49-U?@R;9L7(7%<FOTXT;\A`V%?;9Q$89N:1S'JR99,JLDVEA'F2EK
MB!+T:/0NPG5MLHE)2DK<4>Q()!ZZ7KMN:]TZWK]AQI;=9>5!QXLN`ER%7-M_
M(N=C[T6&XDM*4EEM+<EB-T*9+<,K'J*2=D+(!ZZ@PLSG=K3W:%96;EK\)V/\
M?5OCQA;IS&P:[WYPG3D`:C@-`&@#0!H`T`:`HHD`;(<<)4E(0TA3BR5*"1LE
M.YV&^Y/N'70&L)T-6W;):)4KTTI!)4IT.%M3*4@$J=0H?$D=0.IT,2DHJKV&
M5;S+?8%.MDN!!;"5I5WAQ9;':0=E=JQLK;\'WZS0TZL.)B>FQ6%%#[R&G-W!
MV*/Q$,]GJKZ;@-M^H-R2!UUGE='+<CI#WXN4=B+FY49U;Z&GFW51DI7(""2&
M4*;+@6L[`=G8/:-QU'TZBK*LN?(G[WD:6IQO3Z=OXO8)>YNJYF')M0\S+BQ:
MZPDR.UY+(375,<V4MO\`&E"'EOR6DM$@_B]SOJ2DT]3/<Z6<7HW%2>_VC7<1
M4+;]))SJSKXZ[;D*>YF$M#%?$;D,P'XS;E%2.3E_C75Q4J`#R3V]@'7;;4ZW
MDQALVZ;O38>3[;V''[E=?454WZ;QYH-<U%6Y(9C*8<;:;;@H86VB.T7!^/="
M#LH*23[^IUO>RK=Q**=5370M^V]FL=OR)-JD5)TWG<Z[`$]QV'<KJ.X^]7Z.
MJZ=&ZK87V1DW6E"S\!36#@&@#0!H`T`:`-`&@&GYZ_ZD^8?^R?D+_H9?Z`2W
MC!_<R^/G_8AQ7_T'HM`2!T`:`-`&@#0!H`T`:`-`:KB'72\A[9UHO,+:2.A3
M&$-UJ1O^R*5M$;>_;I[=`?$_&+7Q6B0[1'%,3[0J1B?Y97<Z,OC*3RRG`W+-
M_*W478KW*N2IE-:;4/%2T?BF_8=M=)6IQ57N(T<NQ-TBW5>#%`<DX/#@9%;]
MINI]>ZFF&[+FMQQYH=5/L!#Z@Y'0.JE@[`:BROVH:R>SP)5M.XU&&UF!.4<(
MNQTOHK/M/XS;C27FWW)?-*5);4LH#@9>D`JW4G;8CV==9A?MS^%G6>/=M_$E
M[33FVW!Y@37Y4+[45F.B')<D3)3_`#(B.("6'#,<;#4^*Z$JC=Z4N!7:@G<@
MC2^OTZ[JF+,XPE[VFAU[*L^S2R;C+Q_AYC=T=7A6/<,Q\GXHC\@Y+D^*9Q1<
M.7N11J&QK;-IBP9L[9.2Y%-$.Q<L'U!V3(;26W!W#41M55=AI>:FM-K'F_-\
M\#Y>*Y5E3>`<95.+916U;^4MN24)BPJVJM(!C/5V+QGH3V)L_75=$0\XS$C=
M\I"5N))4%F19N6X0ES/5C$OV<52A?='/9OK[-@K(/B9X<4=)7TV/\:<3,4];
MZ^+(@.3J.>A%,FEE4$^M>CV%T4S[>QQFZ?CN,;>HAV7NL!7;KC>:FZQV&]K&
ME&?5IH]GW#-0_'K[-1GDRNX.D8[QY5<K\3L*RU==975^NWI#DJ8.4QWK;,+*
M;7-V]D\F'7V"#8/R7$OLM2/10I*%*A6;<G=<8[3METZM-ZBOX_:/OB/C=XVX
M1SG0^1^/BGI\@Q'B)WQTQ&H1E&.-XQAN,7&9'/K2NC0Q8+2WEUAD]O\`-N)2
M?66TE00C9\;V_P#QX5N:+VD0E=/Y0XZQD(&0YYBM6$W4?&7IMID-/"C.9&^6
MVG8'KR9S;0DHEN)2XT"5L*=0A0!4!K2.59N.L6!;1KBME.+5%ELRT,27&'G(
MCC4EMI]EAN8IEQ;+BPAU<=U)0D[%94`.IUW7O;`>,GU4_0K_`,6'ZWX)_`^C
M_-_Y7VZ`].WCS,CU_)7FLN6L(B-^0:)KS@(4M"#@N*0PV>H"7%.K!'7\'K]S
M4:>1U*QVTT)-NR[=);GL^\D9#JUV60.93(^;BLU@554\!^3ZK3C6W;,F/QU-
M>FI!1N4]3W>_;49XS<NI39J=YY7Z3M/:T,_Y;VW-V/\`C1R]<\$4:KOERDQ*
M"C%(;<J*U,F."8PN\D4R9H,1JV16..JAA>Z77DI0=MQIN\2O/FA]E?SCR;R)
MG?*4R?SCR1Y`\!/\9XSF-+R)S?C-9QKG^-<K0\GRK'>2./X%.TS30KW!]F6I
M3-PIH17Y5>M,=QT(4H=K'QA'VP&4T7S*XJK!AMUMN"^OU7&V0(]B4F/)275H
M+D<,N)<6M(*6VU`J(W`U,`E<YYAXSXRHH^3\B9G085CTZ4Q!K[?([.%60;&9
M+8FR8<6$_(?2AZ5+:KGU-M#\8I#97V]GQ:`VX7*>`64F#$@93337[2$[95;<
M6QA/O6E<RP):[&MCM2%29U:82T/)DMH4PII84%GKL`MXDMB:RA]A:5I4E!5V
MK;=2A2VT.>GZS"W8[I2E8W+:UI!W&^X.@-G0!H`T`:`-`89`"H[Z2I+96RXA
MMQ7=LAU22EE8"2%%272-@/:=`1%YP\FT\3<L^,/%8I8]@UY&\I93QPNX:G-5
MGY#LTN`6&3IMWHRFR93\YZ$4+;[@?C0=PE05K*VG*[L7F14D?:F<0X]GMCQQ
M<8+R?D%O27=_$F2L)QB++IL>88S^PXMQQ$V+,FF0U,R3,\?DM,O)1Z/XQ"EJ
M2E1*<D7:+[!_M&.+.5I5_-Q*ARQ[$\2XJY,Y4D6-S3R*Y&7.<53XM%E>.4\B
M(RY5VWU%?OO0IY`>;^9C*0PI>WQ1\G(5FWR[V3,>2Z<H[VQMKO[0?,>,>&<?
MY=Y,XIQRX@<A5,7)\'QOCC+)&17TC'K'!+?D)$/(94@1*O'YS-;7,MAOU4Q%
M.I6T'/5^$UW;H=?(XZ^B(=RZL&74>BV_P%QP;Y68;YI7]OQTO#,\Q1S"\3IL
MEY$P#*(CE3#KK^S;K)D&MR)R(ZN9/JGV9ZY$1I':S-B#O*B-AJ^OVW;N\DM&
MD1;F=_<YOE=4_P`#Z5UT,5T&+`AM,-1(;0BQF&T*99CQV?Q;<9AG;\3&C(2$
M-H_6(2!N=M]<&]2TPK*PI=3<SI#?8;@`[#<#V;_<^YH=Y2YY.7%E=#4-`&@#
M0!H`T`:`-`&@&GYZ_P"I/F'_`+)^0O\`H9?Z`2WC!_<R^/G_`&(<5_\`0>BT
M!('0!H`T`:`-`&@#0!H`T!0^W_Z@Y_C3]96T$&?`)K;Q5POY:.EU2+[D&,EH
M)CMQF6%<FWBG8R6D,MI=2\6%$N+.X)Z[]=2[S>J6RGX$&QC4DWNK^(Y>7\BY
MO><@2N(.-XL.MN(E1`NLIS*]=4[1XXQ8QTR(Z*^HKW(35A<);(++H4J+ZP!<
M"D[ZH,AOEDD7EFPH\LI)T3&:R&R\F,2R'%L?Q[E+#.2L@OK.(P*C)\"<QF?7
M8]6NN-Y+90W,-E5TJ3'K65@A^R08KRE@MJ6?9G&>J.N0EJTVZNO^!,NR5(3C
M60%I0>;@4%C#>4VY+6T\^W5R'$F,B0V_8I?5)^%/I+=V]I2K;;4^]^R_,K-Y
M\,L"\!ZKR:X+\3,]M>4E8JU2<&Q<(FXR[BT#(I>9TT#D3(,Y::GS9>\RP;BW
M@94?ETMEA3""M(5J!P`Z+/V4T;>TGM\ZVYOYE+8TPS9-5&5,K:9^4EU\&3`4
MANT>D6402Y#,J4\RH.=I2"WU[V;+NUH]AS>/UKT)<&,)RY]E+R'`M>-9'"V6
M8S<P(F9UUAR.F^8BXRS30I]_`=N^0,3$:,F):\F,MUSX8F(="W$O!MQDD)4.
MWR5RAZ25Y6<:FQK3[":_*GV=6`\V\F<N\CY-E+UODN<W&"O8Y238[BJ?"Z["
MJS%*NT@P\=?+;5C;9=CV/M1IUBXA2E5ZUL-I/KJ[(L;;MYO*_P"E'GU<ZJ<_
M$C=DGV2^5OYNFSQODG$K"CR#E.TM)]1?8E>/5>/8O^1F6Q:G,YE')L$KR'F7
M&[K*0JML7'8T6/$@Q$J;6I@;SNX-2L)[J#>;E?\`8UTE'!0JTSN-RZU3Y-D>
M74D/DZ+)NGLE8N;*KDR6,@G6\U]MG-+2GIF:\VL%$=$7L0^EI3B3W4>,@?0G
MPDX"R?Q[X$IL"Y!M59-G-KE609GEMDTZW/>^=N9T1^HK6K.7&2]-;H*RO8BA
M78A*PE6W0];RU5K0,\R'JJ_8G_Q8_J_@I_"_8^SV_<]FM@>D?AQF:QGWF+&K
M:J==FX\F(2+9E);0N-6/8GBA=G)+BB%LPU-;E`V*M^FVO.0N7+=R3<6U5^&\
MOG&W<LPC5)J*\MA*+^$V.:DSXV,Y)8.PJM+J(2ZQ<%#C3$A+-MZDA[O1O&9[
MEK.W5((&K%]SBK3CTI<U-M408]LG>OQAU8QBWO3]-3O-7\7+**P>JID8O2J^
MVJ$28JY#24%R$I*'NUIQ#[*H3KH3W)4%!0W20==\7&>5#GC))>)#SK4L&?)/
MWI'P^B_8\YK5<+YCQUC_`#6BLM<\K.&7,A:3(RYB%F">*\DS6YN\=MIC]Q:S
MZO"\K8RMMPP(2$F-+BE2=PZH:CQNJUD.TTVTGJ<X)2M]3?P.QR1]E_SID[F0
M0:'F7"<;:N>!N,>((&:M?EJ.49D_$KINZRV)DTEZ7]4Y13\@PDBIDO2X[KT:
MJBLH92AP=VI7S"X,$A,J\&>0J_`/%2MPC),*_+_QC:S*%7UW)[-_D?%.25'(
M5:Y2VU+*?4\_:UDN@K'$LU<M2?F0UW-;I"COUMS5Q5V`BYY"?9K\Q6^59ISS
MC]_AF9<T5F(9\CC"CIVK["Y>&9]:8C@K?'36&O/V":NLP7"<TP5FQDP%M.LS
M*YQ]MP?C%I/6BX@^N_B=QS=<0\!<;<:Y;-,[.*"ABRL[EFQ?L46.>Y*[*R'.
M+&`9&ZHM=.RN=,>CL)46FV5I#02WVI'"Y=4)<NTZPM.<>:I(!J8V^&5,M/.!
MYM2TH0ELR%=AV5Z;/J@+2A711*D['W'6O77!F79:W[#90H+2%#;8[^P[^PD;
M$[#J".OT'IKM%U53DU1T+M9,!H`T`BN21E1X^S88(N,WG2L6O$X4N:ZRQ$&6
MJKWQCGS+\AMYEE@VY9"EJ2H)'7;0'FY\6,&YO\@_*CC?&^?L-YDY3QRBQG)<
MN\I\9\J<&QRKPSA#FM$9N'B.6^/-M2L5UQ;KGMM*@L6/KK@OTB$(4RE[N6<I
M'.Y'G5/$^[U?XI<&-OSGJ/C?!Z*QEU-"'[:#05R+F&_`F/9#C<N(\ZRM*;BJ
MOG'Y[;ZN_MFNASM.Q!YSN<FZHAB\^E:>H0'%/CUQ_P`(5U/B'%N#LR(>.0LA
MHDYW9SHSN7RWLRR`Y-FL:[E(C-0;&5D60ONS)"O00AR4X@E/:D@U.3.66UT_
M=:+*':7;MN\[L:+=1ZC>7GBKQ-08U'PG"N#^+L3F\B9._'C5",?3<U=*?JJ;
M%LKRS8DRGY5O'74NK2U'[FH[#RFUI1T7W67:<?Y6YU9T:X+3[ZGD^\78YB^5
MMODGLJ_X#S>-OB=B7`5_ROGL*9(L\TYOGXG/S=Y]?9#KX.&XW%Q3&\9Q]EGM
M,2FI:",AEM#A4Z5`E2CTU9YUZ-[(=R*:32^PC=E[9<PE^K<5S7<FM_BR6K""
MVTE"B"H%9405;%:U%:BGN)4$]RCL#J$>RNV_FK?)!\FFUZF362)R\GN/5K0-
M`&@#0!H`T`:`-`&@#0#3\]?]2?,/_9/R%_T,O]`);Q@_N9?'S_L0XK_Z#T6@
M)`Z`-`&@#0!H`T`:`-`&@,9*^H4VI)+3Z6P5#X]OF$H/=[$A?KCV^S;1:.H/
MEKXC^0.`\4<%4W'W(J>2,5S.@R?/S94C_"',DL=JL]R"PA>C94^#6E.\S8PY
M*5-J#_:M)WZ@Z[SNJ5=-ITMSC!U:T-'*>0N%+O-LIRW&^>_(W!(^:?4S=_C]
M%X]\HR(3K5*TAJ(U`F6G&$V35-%2`5-MA;1'0H4.FJVYC.XFJZLL(Y]M*C@W
MIQ6T7_'7,7C-Q[9V>0G*^:<NRJZ$1BSRG+N$^;K&\>K(3:TP,?9E0.-*EB/0
M5#JN^-'2UL5$^IW;)VS:QW;VNI&O9*N:1C1#E97YB\(3L<M(\.SY)D2V<>MV
M(++O!'.T1MZ6]726O3==B\?%7HRNX-D';H>J@-SJ3-<T.78ZD3?4^-K7BWY.
MY/$\%N3>.,*MOGN/>!L.KZR%:/PL8PK#LV'+%_D<Q&>4%@_$S"DK)U'(8:>;
MK88^=V#4O=IQ>HWR\N*`^N)T'VMN/AF'+_*#)Y5E9FL<?L\CX[7*Q62QD=']
M>91-=K*Z+%F8Y,B-3C11F2W(KX0;CO-N!/<96-2Q7F]YL[V+L+3K*/,)7-.`
M_M1IKG$E9<WN:\D5N(Y5C68.2W\XP2ODN91"EUMYE'\(UI&QNE7:XFZ?G*ZH
MCPHKH8<4%2&WDD*$KKPI2C.N5DPOVNG;BXZ4VZ&.!4_:IXAQO.S3,LXY&K^0
M85[C&'<?\91CCF1UEW69-R+<_E-;9>Y08G*76S\/Q"QB+BR6RB(ZRA`(2L*`
M@W+?/E==:1HE3R*VQ:=F'))U=6S[]8S4SJFCKZZ58.SI\2I88DVLA#8EV=BJ
MN;CRK2;Z*&FU.29'>L]J$?>&M\E=>'(M#L=<Q@\REI892CN:=]3T0\XEUM"$
MDM)>):;0I2=]MO?J!:PI6UK)!F\UZ@=:65I4ZA2$H<*$I':"`.YM.R02/;MT
M'NU80I%4W`\7VZON?^+(W_SWZF@/3WXT!0Y-\R5J#*W1Y(7,93OI%*U1%8!A
MTMJ.2'#T86D[*VZ[^P:FJU9<$][I4DJ_1)<"7#\-MR(XRHA!0B7Z#P2K9CYI
MQ3KQ6V%!+Z%;[*2>A&M;V-9G;<8TJT8>9TOU7NU]@V,C')^-S9UYC=A6P*HR
M'+&93_*I4AUE2$?-L-*)!;]=:._<#I[-4DLA8OZ:T.\5_<8JYJV.#6SXN0P(
MUFU'9$.:MJ6WZ[2NXK:4.]B.4.-J"$$;A6_Z!UL[:E'KI'._:Z,>GP.RA*DI
M[?F)0`<6XE2)"N]/=^"VE3P?V;0#T'MUS(E342Q\IWJCR'&U.+4HK=[Y!65_
MN@>3WH;>"A[-T[I]VVMHW7;]8$+G<EZHI6IU;W+<1,@5JXH>*A\G=6#$6UE-
M-275N&1#B%3K"@K9IT!6Q`V.ZR0=V+1N2%&9-N9TYM^<[)2A"F8[#L)ER0Q#
M96TP%=CORW;ZJPK\8[W+V3W=HTE/G?-N)ECX/&IR#BAHXDE.).-PW7%CU8,Q
M#DB'9R-O52R_ZD@.%7ID]JD*3V^S8ZP=?,4=%;F\KXDN*R$+>1.BJ:D+*"W:
M5Y"%1">T$-.[$I41OL/?J=#X%Y$"?Q/S.Z>G3H=O>#N#]X^\:W-0'7IH#*67
M/<`3]_0&!UA:T;.)[0"A:5H4A2VW6U)6RXD+;6@J;=2%#<'V:`Y**QF,IY1*
MI3UA*V=<>++;BS);CH>2X\H=RFW3%W[-^U)5\*1MK>&Q^1A[C2N[YNCCR;&4
M6>YEXQDKC0)+CIFOMF/4L]K;98+$5U0"UJ5L$[G4+(TU)>.FU1;S6QZ#(:JG
MFY[+3=A*6)-@?31_ZV</JN2F`A1"V-^PMJZ;['IKE@V>HY/_`#$G/ZLL=JWL
M2^P9KD1$B!R=QM<39[4?'DQLGKC&8A+3*-_.@Q#"E2++UD-0Z]B!7N=.I*]_
MIUZC&QJGR3(AE/+>W;Z;AUJO/,<FV!I:ZWHK2Q!=4_"J)\7YAAQ;;<J*UZ"G
M29"W(3B5J6#N3OTZ:K\J/+><==.)Z+%O2M1C&>DN`OF5-NMH<"RGO3W`%)![
M23MN%;$';4;[CT&/D^Z!Z$@'<?3_`/%OH=FZNI30!H`T`:`-`&@#0!H`T`T_
M/7_4GS#_`-D_(7_0R_T`EO&#^YE\?/\`L0XK_P"@]%H"0.@#0!H`T`:`-`&@
M#0!H#&I*UI(+A[@\RXVK8;H0U[6=O>ESWGW:`UF826%E3;BPEXN.3.U;K+DI
M]2BIIU1C.L1AZ`(`!942!U.^@-@)D`@_-/'8@[=R^NW_`-4T!F[W_P#T[O[=
M?]=H"QP+>;6TZZZMMQ/:M)6=E)W!V/<5#8[?1H#1>K(DAQYV0VEU<A:'G%%#
M*"'F&4,Q7&5M-(>9,<-@CM4-]`8&J6&TIY8!/KJ4\MH-16XZ92NPKEH::CH5
M\PZM&ZUJ4I2QT)T!=(IH<LP?7<F%NO[%,-HD[[/-MAH2&WI#<B1$?[$[=S"V
MB=SOOOH"]FKC1W7)#2&TO.(],[,MI;[`\V\A)"`EX)[D'N0EQ+:U$J*>XDD#
M8@Q4PF2RA7?W*<6HAIAA(6ZM2U!#4=MIM#8*N@V)V]I)ZZ`V4CM`'T:`R-_N
MC?\`FT_Z(:`\7G^%D:`]/OC3_P!9?F'_`/3?)>W2K[@3QMB6W;]WI]W6*/BS
M'+YDP^OT[?=Z=/N]>G36T7*,E)-Z'.Y:5VV[;;2:W'/F0HLF,^U,]1;+K:D.
M]C0<60L=GPMMH"EG<^[4/(P[>3<ZDW)/P_P)F#D3P(<EJC7^;7[J"$KKIS%H
MOU-;5\Q2ZUUSY1,&(N;WUSAW:+8;4@,OK)`/=N/N:VON5G%Z5O556TZ3O/*N
M5N)+R.\C,(10IQ^ONH(3%?GA,NL=2M<1A![DH"5'U)"ED;)'M3OJMZE[@OM,
M="'%B=?S:2%R'9U-.@TP?B_(V[D=T*<C2F4K]1ZOW^8/IJ!W((&VM9.4TN?3
MR)>-@VKRDY-T7BMOL.!:V=MDZ*^SQF)'-562+.6X_:,E,BZ-?$4%5D2*LI7"
M5)6>]MYP*1N.W;<[ZY\OBZ&EW#LV]DG6G%?D+K"\E@9'5M.-=]=-V2)%4\SZ
MMA!>])HN,S(#'IN0EA1WV5[4D*]BAKM:FU[FXY1I"'N:JHLE,M.-N(><"E%*
MDI6RH#T%]=GF=PHH?2.G7?;V:LK5J,Z5J;U]@W,-F73YO(CH[Y%5DCK+D=PR
M6H\>GEU,<[J;84@+?=F=Q4^4GX^FVVM)95NW-VZ['0A3ISOS%"C)ZYNW8QI1
M6Y9J:2M$AM)^JWV]AL4RCNAAQ0Z]JB2/9K"S;3DE72IIH=>RG-P8LA]3C01'
M(275*/INJ/39KM!4=C[2`?O'5FGB[W+["7T(-5JQ`Q;_`"NU??D0FZ&MI8\F
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M:>U*/66"\Z!]*U*.M\=+&BXV]:NNI(^>NT<6HT?@_P`SGW6+4F0QU1+J#'LH
MBFGV_EY;##R$J?"$J>0I;1<;=2A)2""!VK5TZZGQ[A?@TXTT\_'Q\2FE@V)W
M.HUKZAE<WXD9B/XY?\?TN/Q[C#;M&1LTPCQ*5C((28:X$R!-MX4=E<(1HZ_Q
M!6'N]21O[-:SE\Q+K7?B979>+&-YSAPV"XQ+D*LOF&XKZ)-/;QY+==(J;U3=
M;+8<#*7$*:6\ZM<^/Z*DA#J4)#O10`WVUA6(;VR"\V]9=(I>O_$<EF2V\@H;
M6VIX@]B6%_-*1MT`>1LQLH;=>NL="*VUT+^UFV;D8JM9M*OF;0!V&_MVZ]-O
MB]_3<[=?=N='8A2NI)2O3=8).'K#44W#0!H`T`:`-`&@#0#3\]?]2?,/_9/R
M%_T,O]`);Q@_N9?'S_L0XK_Z#T6@)`Z`-`&@#0!H`T`:`-`)ZWN14][\J1!A
M5K10F39376F&H7S)2TT_*3)DQ6VZZ(L=[TGU`G900$[@DQIWI1DXJF@.O&?^
M<;#L5V,^U(80["?9=2_'=*T]R%!YM9;=:6.H*3U&M?F)\$#9`4``O;O``7M[
M.\#XMNI.W=[-2P5T!<@=RTIZ?$>T=RNP=QZ)!5L=MSH#D/6]?'D,0G+&&F7:
M&=]2LONQXCU@N`TKYN-%BR9;<B4[#<25+4D=I0-NAT!T4%TA)6VIM);1OZX]
M!_U=OQ@3')42T#^NW.@!UQ++2WG"$MM`N.*4=D);0E2W"KM[G?P$G\%*S]S0
M')?O8$3YIV7,JHT6L2EZXD.V)9:K(_IMNK7(>DQF&VW@U):6E#GIA25'8[Z`
ML7=H5'D2((CVJ(SGIK%9,B.J+GHN/.M*7*>B16@R@H*"7.]\A82@;`GA<NRA
M*BI0&\F:$LA][T4H,EJ,T!*C-KD+D(0B(TVEYY*4R9+ZQ\'<>W\'<D;ZY_,2
MX(&VTKN;2KN[CU"B$A`[DJ*5I[0MP#L4"/PCU&I46W%-[09V_P!T;_S:?]$-
M9!XO/\+(T!Z?/&D_^\OS#&X/H>2]NIW[H5QKB7;]SWZ`F)H"AW(("UH)!'>V
MHH6G<;$I4.J3M[]`6)9;2L+`/=Z:6E;DJ]5*%=R"]OU<6E77<ZUG!3C1G6S\
M?J,G9OMW*6LA:UI4XHK4V7&ELJ#:E;E*.QP[#V`]=<N@B4]1-9/7SIE3+BU#
MR47$N(J#!DRV53`SNC;N((*4J2D="??J'EPY'&F\[V;BM)[E6HC\8R:GNJQY
MJ7O!M:A#-+;02T(CR_D_['?GQF7$^M,9D.D*(1T!ZGJ-0]U2OR,AI-MU.O(Q
M&`[D$VUK[%ZKM7O258/5ZGHKEB_\FPU$D2GR29:E,-H0H^PA';[M;0JKFNTV
MQI<]JKXFO(R"VHOK"+:4UQ.^K*]%DFPIH45QF:D$(?8?#DEKTG$N$]R@D$[$
M[ZN<?8CNWKZSIW%6JYAQG&%1!81^^?5R5J5WP7;"*WZB5I"UI64)7ML20".F
MH-[M5^[<E<C\+=?34A3?O/S-FNQ>-'I:ZJD(4Z8H:??>0XOU)$TH!D.*>!#B
MVG'2HA.^P!US79LBN_T]9@P_DZ9,IMZR>782&5K,."TZJ)$17.`I[W6VB$2'
M4>T*5UW&I']OO\7Z>LG[CJU&.U>/Q'XE+%]!+S\V4KO=??6M^<ZEZ0HJ6I2N
MU3B!L!^#MTUO;[?=YO>?N^GB&(#*6!%S#'[)FIG6)0VMJPL*_P!=AY'I,K<8
M5(0YM&F/*?2EOO<!(0H[:S=M*QKP"T7@+2`]-MI;4N?0.5:&%./1W9,AER0I
MPA/:I#;>ZFDK'M`Z#7/&R.I<<*[CC?\`@7"HI=AW*5L`5?1T`^D)'L`)ZG[N
MIQ%*Z`-`8W&&72VMUI#BVB2TM2=U-=PV5V'Z%>\'<:F6E[B.=RRIKFWC<95Q
MCC^32IMG'KVF<FE017MWZV@Z]"=2H.(?;"U;*?;;V`5MN$I"?8-=2BR<773:
M)M>'<DU$%,.IS>!9R_28;:&25L3Y>26$A,EP/5[:92$KVWZGN&E="CL6K]G(
M<I-\B;.M3<BN-S6,<RZ/%Q7)%2&X<)B8MR359"PAL>I/H)<8EQ3>XZI=([?9
M[=8GL=#V>'W6U&"M-JK].`Z;+Z7&4*(^-1`WV.VY('7KMJO)1FT`:`-`&@#0
M!H`T`TW.9[^%^7DJZA7%V?(/N^%6,WC)'3Z6SMH!,>+GQ>,W``/ZWA+BP#[W
MY$4@_P#)H"0&@#0!H`T`:`-`&@#0$+?-&BGY+@&/L?DQDW(&*4G)^%V_(?'F
M&L(LLES#!*XRYE[$JJKYZL=N':5TQY<B!ZS*7&!N75#X-0;B_4?F!Q_&&FS#
M'>`>,L=S-!K,NK,?AQ[*!8+VFU*7KB:BHKYP]1XB5#H$M-N#O6?42=U'VZYK
M:"1BMNX]I!3N>T@[@C?H0>NX(U9+8"QT]BT)3ML2G?\`1)!_QM`:=D^F-!?D
M+7Z26O26ISO;:*$A]KN4''7&FT*"=]BI0&^@("<K8A?91Y8\(Y7B]#E=G(QJ
MJ3$R>URG#I;W#"N.K=R9,LY]5F;,AZ%3\EQGF@HH04JDI2&O8K;0$_(##K;"
M%/?-;I01V2%=Z6U+??/J1E$J5Z,ED((1OLC;[N@+)SZ6E,-+0OTI(DLN/M*C
MH>C!3/;ZJ')$MCL1LL]W8V^K;V)'0D#XZ<J\9Y!<YWY;S8'%/*][B>1<L>.7
M(.;0ZG%LN?JN8,.I\1EP<OJL/+LH?EA$A3ODU2ZNO$'<CU%*4D%)`B;C6.>:
MW%U]GU;C^`\S<?)R'!<.R"HS7#,.N>19:>7JO"'V8^.YE$M1]5R\-JL>B.MM
MOUT=MYK(D18TLK0XI2H=_P#<]0)C^).6^53O+R(/,$KGS).-)=9R+65]GRSQ
MA#Q@0(U,O$;3C#(9TVBA*CKRC)[2PMT2%!O=I$)*-MO;Q&I]>X/=\G'[U%;@
M;[7W.U:?4DI44R7`E;,=02N0%$?`GH>@VU80^!>0-YO]T;_S:?\`1#6P/%Y_
MA9&@/1+CN2\R\-<Q>2T>%XX\E<B47)'*#F=X_E6*6&&P*IRHEX[54BD*8R_(
ML;<7<-N5W8`@J!0!T.@'=9\D>55ME1\..?2>TD?\,<6[^P?1EHT!;^<CRK_,
MYY^_]L\6?OLT`?G(\J_S.>?O_;/%G[[-93:V&4W%U6T/SD>5?YG//W_MGBS]
M]FL\TN)OU;G$#Y'<L.)*4>'?/R0=N[:ZXN3O]'5.6@C;5=G1G<<:/94[6I.=
M>;43-MS1R+8RF)[GB#Y`5-C!#DE%K!L^*/G`T6U,*:*EY2L%M??UW!Z]?;J!
MT;F]LVE:M2^**9R,(YZYJQZ')JK#P\\@9[:9[[]>](O.,'G3`<4'XX4XYERE
MC:0MQ6V^PWZ=-95FXM:ZG"25E\EKW8\$=^W\@N6[F#-KVO#3GJ._9H76E[ZT
MXJ*T-R?QSDTJ5E9)](_#UW2/HUU3R8K2;7IY&O4GQ99B?/\`S37UPA2_#/F]
MN-!0(T!3=QQ7ZDIM@E`=F?\`S6'M6XI)/3;IJZMW[_3CS3;=#3QWBC'DIRQL
M.[PXY[2K;XDMW/%?8D^\(_\`FL_`!]GW-;=:[Q8JT8E>2/*B^P*\+^?3V(#2
M#];\6@I;!!"01EP/:"-^NLJ]=5:2>IOU;G%EY\D>5"-OS..?>O3I<\6@_H$9
M:"-:7+]_D=).M!U+G%@KR0Y4*>U7AMS\XD?K%77%R@?9[0<NZ[>W5=.5ZY\;
M;,=6YQ9:/)'E3IMX8\^-_P"7^M^+-Q]P$Y:3L=9Q;,;=QR2HV@YREI)EWYR/
M*O\`,YY^_P#;/%G[[-3C4/SD>5?YG//W_MGBS]]F@#\Y'E7^9SS]_P"V>+/W
MV:`K^<KRNGH/#/GY8]O=];\6']#?\K?=K93G%43T,U=*;C'^<ERKWI<'A?S\
M%I7ZJ2+GB\;.=H3W;#+P">T;:SU)O><Y6[<G6239>GR6Y73L$^%_/8`"R-K7
MBO=/J=5@*_*SN'<?;UTYY\6:Y.+C]+W813H-WF_*?+F<4LZA_,^Y\J+&R;32
MU]JW.XG1]4QUO)E&?&EIR[OC$=O:I22"=;.Y/EVNIXZ]CWOFH-)JDUI3<F+=
MGR)Y<B]L1[PVYT>DPGHD);C-SQ:8TUQN$79,E"AEQ!4M:>[[^N1[8WOSEN5U
M=#X9<^I!_7?6_%@V^[O^5N@*?G(\J_S.>?O_`&SQ9^^S0!^<CRK_`#.>?O\`
MVSQ9^^S0!^<CRK_,YY^_]L\6?OLT`?G(\J_S.>?O_;/%G[[-`'YR/*O\SGG[
M_P!L\6?OLT!LM^1W*A0"?#CGSW^VXXM)]I__`)M&@&]Y)YTYCRGC[D3'*SPZ
MYO7:7&,Y)C=>B?;<80JQ+F04$J,R_8R!F"E2&H3TDN;I`WW/NT!*3@O%K/">
M$N'\-O8OR=YBO%V!8W=Q5.,/*CVU)BU76V+"GHRW8SJF9<=:2IM2D*VW22-C
MH!U=`&@#0!H`T`:`-`&@(>>=F->1V8>*W,V.^)&4T^`^2=GCR(_#677CD-B'
M#R83JX2A-DV%;=QD51JW74K"XRD$J.Z2>NM';@]6E4'F5_,K_P#GLPJ6\C[0
MKA%A:DL@,HN<:=2H,`AM"'!QNTDI:)(!2A`/O&L\D5N!NI\/_P#Y[<3VLI\_
MN!_3`2`^J94]"!T0I7\%ZOO$]=;`^L'"_$'VEE/Q;@T+G#/^;<\Y51#;AYQD
M^%>0^`8SB%SD["Y_SS^.5C_&RY$*B5Z0#2'=EJV`WT`Z3W&WFZALK^;\C4A"
MFU$_G1\=^Q+J%$';C?\`!4!L?N$Z`@+YA>-'V]N9WV!SO"'R9L^$<>A5%G$S
MJ!SOREAF=V-MDSD_YJ%+I9$#CQ4=BK8K"IM'P@J!Z[^T`1`1X7__`#VDTX4_
M_E#^%=E=[A"K;'UCO6H%1V5Q]O[?8-^U(]@&@'*XE\3/_GGV@Y0P"XYO\XN.
M<ZXFK<LHIO(.(87E..T.6Y)B3%M"-Y28]:JP)+4&TL8*U-MNK(0@G<^[0'UO
M9XQ\T(Z$N1CY((CN)88#3_E'QPV^V6TF,V[,4WQN2Y8Q6V0E]7<6W#VG;IH#
M2D\:>9<1;38=\C77(Z4H:F)\H>,Y"('RQ[Q*L6G\`9E3&)[[S:4AM0`6SNO?
MIK5PC+:@3\\;:?DBNX8Q"#SG\M9<DQC:1;J2JR@WLA88LI;%6NPM*Z)!KYMP
MBM]-,AQEE"2[N0-R3K'2M\$!_4H+:4M]?@2E`WW)"4@!(W)).R0/;N=;I45%
ML!E;_=&_\VG_`$0T!XO/\+(T!ZE[3S'\5*BQ?Q[(N8L)K;>JFNQ;:L+.3IF0
M[YIQ8CMA2*<]A;0.NQVWWVW&@,0\W?$0>SGW$1]Z-?#_`/<6@#\]WQ$_C]Q'
M_:U]_P`1:`/SW?$3^/W$?]K7W_$6@#\]WQ$_C]Q'_:U]_P`1:`!YO>(H_P#Q
M_8E^A'O1]/TT8UAPYR19;2=%4#YN^(A[M^?,1/<GL5O'O#W()!*3O1]4DCV:
MUZ!WYGP?V?F'Y[OB)ON.?<1!`"0?E[W<)'L`(H_8-.@N!%NOWRH\W?$4'N'/
MV)!7:4[_`"][OVJZE._U%OL=.@N!RJ6CS<\0T@@<^8@`K\("->@*^_M1==;T
MIH"H\W?$0=!S[B(`Z`"-?=/_`+Q:`K^>_P"(O\?^)?[7OO\`B/0%/SW?$3^/
MW$?]K7O_`!'K>VN:5*5`#S>\11_^/K$E?Y5$>^"C]XBCU(Z$?Z?N,E?SW_$4
M^WG?%F_\LMB^*?O?^HSUUI=M*$:I)&"GY[OB)_'[B/\`M:^_XBU'`?GN^(G\
M?N(_[6OO^(M`'Y[OB)_'[B/^UK[_`(BT!</-_P`2@-D<]8@I/TF+?'K_`.PM
M`4_/?\1_UW/N(I5[P(]\`/HZ?47T:`/SWO$4?_C^Q+]&/>_\1Z!OJ>ZRU7F[
MXB+3VJY\Q%2-MNU4>]4G8]2-E41&QUGUFOR4)-2HZK7<"?-OQ"0E*4<]X>E*
M%%:$IBWJ4H44]A4D"BV2HHZ;CKMK!L7?GO\`B+_'_B7^U[[_`(CT!3\]WQ$_
MC]Q'_:U]_P`1:`/SW?$3^/W$?]K7W_$6@#\]WQ$_C]Q'_:U]_P`1:`/SW?$3
M^/W$?]K7W_$6@#\]WQ$_C]Q'_:U]_P`1:`K^>]XB_P`?V)?[7OO^(]`6J\V_
M$=6__OUPQQ*@02J'>J*@I'8KN)H3ONCH?N=-`7CS@\34@)3SQAX````BWP``
MZ``"BV``T!7\^+Q._CYQ#_:M_P#\1:`/SXO$[^/G$/\`:M__`,1:`/SXO$[^
M/G$/]JW_`/Q%H`_/B\3OX^<0_P!JW_\`Q%H`_/B\3OX^<0_VK?\`_$6@#\^+
MQ._CYQ#_`&K?_P#$6@#\^+Q._CYQ#_:M_P#\1:`/SXO$[^/G$/\`:M__`,1:
M`L/F[XBE06OGK#PZ-^ORE[NGN[0=B:+<=P2-_IVT!</.#Q+';V<\X>0GH@_*
M7W0?<_X"Z:`#YO\`B-L0>?L2`))*?E[[MW)W/3ZBV]N@*?GO>(I!'\/V([*(
M*A\M>[$I)*2?^`O:"3^GH`_/?\1MB!S[B*MP4]JHU\I*@H$*2I)HB"%).Q&@
M!/F_XE)':>>,.;0$H3\,2]`"6^C:1_P"`$H]@^C0%3YP>(Q.YY_Q$GV;F->[
M[?1_ZBT!:KS?\2#T3SSACO0@AR'D"]DG8D#LHMP%%(W^\-`7?GP^)QW)YXPW
M<[[]L3(1ON23W=]$2=RH_IZ`Q*\VO$-6WJ\[X8"$K2!\G>?@+[>\=:'V+*1O
M].PT!D'F_P")02A#?/.'EM'[F/E+[9/4D]H%%L/B/NT!4^<'B0H[KY^Q(*/X
M7]CWW3_[Q_1H!P.+O(3A_EZQF5_&>>TF73:=?S-@S5FP4^B'Z@"75M6,""A/
M>%`@`D==`>2CO'W?_%B]_N]GZ?MT![-GJ''G'G76JJM4ZM:E.N/5L)2U+)/<
MHK6RI:C]W??0'.^J,>5T^I*%6_3M^I(Q[M^FVQC@'?[O30%OY/8]_P`FL?\`
M^;]=_J>@#\GL>_Y-8_\`\WZ[_4]`'Y/8]_R:Q_\`YOUW^IZ`/R>Q[_DUC_\`
MS?KO]3T!LL4E(V%!NAI&0H@D-TM>T%$#8$CT5;D#059:]4T/</4IJ,J[1MWT
M\11VW/O1&VVW_1T!A-#CR_B_)W'W-_UQH(*B=NGM6RE73[VE04_)['O^36/_
M`/-^N_U/0!^3V/?\FL?_`.;]=_J>@#\GL>_Y-8__`,WZ[_4]`5&/8]O_`/PW
M0I_RR,>KN\?=3NWMW:`N_)['/_M'5J_RKM#6MH/^:6ADJ3^A[]`6G'L=]V.8
M^?N?4\-W_P"16R!^CH"GY/8]_P`FL?\`^;]=_J>@#\GL>_Y-8_\`\WZ[_4]`
M9F<<QUQQMKZAQ]I3BB$(^I(39<(&ZNU*6%!12GV^\#0'93AM(VD!NHIT)]O:
MFJ@@;GV]#&)]V@*)Q2E5OV4F./=O0K5605+W_P`MVQR`?_)H#$,2HEG<4.,J
M[C[JV$0>NQVVC_3TUJK3C+FUH;=927*J%Z<5HU'L364JME*04HK:Y02I&P6C
MI'.Q1OL1[1[]=.NH+DXFKM\WO/<:QPRB9*5KJL<2.X!/?5PD)6H`J[`I4<`G
M9)Z?0#]&M0;"\3I5]S7U%C'<4D]OU9"[NT$#NV$?NV!(Z_=T!J_D71_!_P`#
M8RD+)2A2:V&2M0W^%`]#XCT]V@+V\0H6SW?5F-_%N@?\%0NJNY*>T;L=5=Q`
MV^DZ`Y=?`P7(7;*/2.8%>/T=D[373%6*6>[3V[33;[M59MPO67`LFV'4K4PZ
M$.I0H$IV(T!O_D91;_\`J3&/8#_ZMA[;$]H)/H=-U=!]W3E7[F]#G_[6]ZFS
M'Q&E[5!%11)'>K<,5D$I[D_"H'>.?C!&Q'NVT^85ZMO=4*VK7OJM:F88I3D'
M:BQ]T#]>Y50BOV;]2(^VP]VHMR,I3Z2K1/\`B.9?O<=335B-$X5J^JL=!"@%
M)350B$%6P2@[,="HG8#WDZUE">.U)[S"N+(6FSP-P8E4)[$FIH`2-DI-1$!/
M:.NP,?<[#VZF+89V&N,*IB5;5./J*5;*2*J)T5T/:K:/\)((/WCOH#,K#:8I
M(^H,<3T/Q"KB;I^[_K?W:`TG,3HF&E2/JK'EH;]O;4Q%#J0G;X8YZ@JT!I?4
MN.N?#]14#GOV-/'3[/?N8XT`?D_CP]F.8^?_`-C0W?ZBV0!H"GU!C_\`R;H/
M^;]?_J>@#Z@Q_P#Y-T'_`#?K_P#4]`'U!C__`";H/^;]?_J>@*?D_CW_`":Q
M_P#YOUW^IZ`K^3^/_P#)N@_YOU_^IZ`I^3V/?\FL?_YOUW^IZ`/R>Q[_`)-8
M_P#\WZ[_`%/0!^3V/?\`)K'_`/F_7?ZGH"OY/X__`,FZ#_F_7_ZGH"GY/8]_
MR:Q__F_7?ZGH`_)_'Q[,:H!__3]?_J>@*_4&/_\`)N@_YOU_^IZ`I^3^/GVX
MUC__`#?K_P#4]`5_)_'_`/DW0?\`-^O_`-3T!3\G\>_Y-8__`,WZ[_4]`=F'
M"@QE-_*P(,3?TT'Y6%&B_`"G9!]%M)[4[=`2=M`>,78?1_\`"R-OT/HT![0E
MJ3WJ^)'X2OUZ?I/W=`6]R?V:/VZ?U=`'<G]FC]NG]70!W)_9H_;I_5T`=R?V
M:/VZ?U=`'<G]FC]NG]70!W)_9H_;I_5T`=R?V:/VZ?U=`'<G]FC]NG]70!W)
M_9H_;I_5T`=R?V:/VZ?U=`'<G]FC]NG]70!W)_9H_;I_5T`=R?V:/VZ?U=`'
M<G]FC]NG]70!W)_9H_;I_5T`=R?V:/VZ?U=`0-^T]5<-_9Y^<*\9E73&3.>*
M/-RL?5CCTE%^;*+@EXAA6.JJ)4:[1=M2;!I;)C+0YZJ6PA7<=`>43PMYKP?A
M_(,6YP^S;9\\^0<'XH\!>2<D^T6J<S5S9=X-8<^-<?U[/'$#CY'DG6Y#!_A2
MB\A2Y<V,W609V/II6%K5&EK2&'`%9SGYH><?-7&_">>W'DU:XUAOC%]J%P]C
M=MY`\9<5+Y<Q_(^.^0N*Z6ZQZ[N_R'X_X/AY]2X;E$^?4S_E\6AQ'W)S?JH<
M>BEU8'V5\#O++SFYZ\VN2<0YKY(X;Q+`L<S7G#$KOQ.LEJI^:<8PS%;*)%XC
MY2P[&6.&J*WE4F5(C-RI=K89O<0I4:P6N+$C%KM$^]T(P48RYI<JUK776J?J
M*ZTKW6;DFH\SW:4]HYGDUR?F&??9X?:Y/57-EQR]?8;4^5F+8R*3B3*.';?B
M1FDP/U8G'6/38;C%[R//QAY_NA9-5KWL7I([%*4WT\[=60KRY8MPJOO1?V58
MDESR46EQVNCIN^\\_?AURG.XTNZ?F7[("K\Q>8(O'O@)R1DGG1BW/\SR(M.&
MK'R"JL2H7>.:[#&>:&IEE,Y.J,MDV\IFOHT_5<RECN-I6MT@&S()*/E?[1K[
M0OBSQEXDS.P\O^%*S`>5.=OR<SCSEX;X"M?,/*O'"DA<80[B-Q'R7P9AO#'"
M=*W?6G(2'8T9;5"^]'@RE-/O+E-)?4!)6G\ZOM`<C\D.6\,A\W\)8EAG&6`_
M76$\?\G8HO`^3?)3CESQV&9M^0_%_&:N%<BN[;+;?/I2Y+%<C+H-%!1">KI5
M<7PIY0$,QYX_;70^+KGE-_GKBU\'PP\?//%6/5WBPXJ7&JLHS5[`,L\?JN2_
M:.MBSR1B,JQF6SD),RK>BA,.-%9<<*@-SCWR\\MN)?M-_)'CS@&9:9-*YE\T
MLWSO,O$/\UO,IL'EK!I'B_CDJUY2:\I+2)#H,0;X\O:Z#$54P%B19ND!/J%S
MTU`.'AGGS]JGE7C/4<A4WD3XYV/)O(//?B3Q?*X_;Q`YMR1XTY=REFV04G*V
M"\J\:P.(N-HT'#:^D0T['1.F75Y%FP_CN7$*4M4BMOY62K^KKIX:?;^%?`B2
M5SYV+H^ERZOVZ;?PX$K_`+>27.P#[.7BO#.<N3W[WD9698K6S>36:7RBP+CG
M-N2Z;$+25D%WEN/^&\+)N4\9JK5EF3/J8CTARJ:MQ&1*><:2L"C[?&['+Y;\
M9*S7:U1/QX^)<93MRQY2MM.[I2.^E/9IL]$04Y@\A>">!(OV%O/'/MEYDXIY
M#TV*<:M\C5V01_(#*9<GQYA8]R773+G.,1PN`O%+C,+KDBRI_2>MF1D9ITL*
M<84A.XLFD^\7FE3';5);G1;G[4RLE&[_`&N%JJ=Y;EM5=O#T9Z6^9N=N"LR\
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MN,YKO)N/\<U7C(W%PN1`3QYA=E:UC=B;.4&P[#E.@V(86I9T!ZA'G5.15K;*
M2A?HN[]JF$B*\GU&U%*P$EWOV!]XWT!RNY/[-'[=/ZN@#N3^S1^W3^KH`[D_
MLT?MT_JZ`.Y/[-'[=/ZN@#N3^S1^W3^KH`[D_LT?MT_JZ`.Y/[-'[=/ZN@#N
M3^S1^W3^KH`[D_LT?MT_JZ`.Y/[-'[=/ZN@#N3^S1^W3^KH`[D_LT?MT_JZ`
M.Y/[-'[=/ZN@#N3^S1^W3^KH`[D_LT?MT_JZ`.Y/[-'[=/ZN@#N3^S1^W3^K
MH"]M2?4;^-'X:?UZ?V0^[H#Q?]BOH_\`A87S/M'[A_Z7V_N?W=`>HN;F/FNB
M;,1"\<_$Z1#1+DIB2)?FCR5#E/Q4O+$=^5#;\"9S<22ZR$J<:2^^EM9*0XL#
MN(&K^6?G!_-N\1OZ;7)O][^T`?EGYP?S;O$;^FUR;_>_M`'Y9^<'\V[Q&_IM
M<F_WO[0!^6?G!_-N\1OZ;7)O][^T`?EGYP?S;O$;^FUR;_>_M`'Y9^<'\V[Q
M&_IM<F_WO[0!^6?G!_-N\1OZ;7)O][^T`?EGYP?S;O$;^FUR;_>_M`'Y9^<'
M\V[Q&_IM<F_WO[0!^6?G!_-N\1OZ;7)O][^T`?EGYP?S;O$;^FUR;_>_M`'Y
M9^<'\V[Q&_IM<F_WO[0!^6?G!_-N\1OZ;7)O][^T`?EGYP?S;O$;^FUR;_>_
MM`'Y9^<'\V[Q&_IM<F_WO[0!^6?G!_-N\1OZ;7)O][^T!C_++S@+J>SQP\1D
MS@VLU8'FMRHI]2@IOZT$(L^`2%)<5$[`Z=CLGM.Q.PT!7\L?/OLF*7XZ>+QB
M]DCU6F?-#ET3Q*_%]H1(D>!*@4"-[PT"?>`-`;'Y8>>@]$?F[>*A:,248[B/
M,[EI+R6C$9^3064^!BRY)1_YI2'$H4[W?"D>T"]69>>P4L*\<O&!39C-EY7Y
MZ?,:'$N'?L;2E?@,XRM\+]J]TI/N2!H#DC,/.;T9QF^.WBMZP"?72WYF<O\`
MU@M\2#]5"O7$\#O2:0J5N(Q"5D.`D@@[`#:?S+SV[FOFO''Q9$7MAF3W>:O+
MRI1^-/H!TQ_`1+*8Y7^Z%[=0&^P)T!U6,P\^0"'_`!V\4U)VW*D^9O,B)I)6
M?30VA?@:MI+J!OV*6HH4D'=*=^@',7F'GG\N^(WCKXH^N),D,.-^9W+P"K+I
MLM;+_@87D3A%W^%EQ40J_7`;Z`Y)S#SO^5:/YNOC/V^B5%"/,[F'ZT]8N]K[
M2W5^!FYM$2SW/N=GIJ0$I"$H*E@#L_E?YY;/^GX\>*ORH89+Q1YE<P_&YZA^
M735I8\$?4;6$=H672H$]2!T&@*2\R\Z^V#OXY>+`D*]7TQ(\T^6#*:6%)ZK5
M(\!DLR"H[ED`-]K^PW/MT!EAYEYT"4.SQR\2%M_*@1P?-3F)N&8NRC'4I7Y@
MKK0/R'<%C8I_#(._30'-:S#SL[)9C^._BP9!?=#B1YE\MI*)78?EE1%N>!ZH
MKLKTRKM2$HD>FEKM/:H]H'+PG,/,`T448%X[>%"*=-G;?6BL2\S>174.W(DN
M#)_G48_X&LUT?(EW?<;+N4Z^F1W!?<KN.@.\UF'GH&"7?'7Q75.*%_#^>=S*
MBP;(F.=YBK/@8Y8.LJ9V[@ZE"$C]S)3H"YG,//?Y=KTO';Q5[3)47P/,WF$S
M&X?I+^60V6/`T0G8Q'ZY00!T[DG0&>+F7G@0T/S<O%1'XN0>_P#/3YB=C]H'
M5$MMWP&:A>J5>U2U=H'[FD^S0&R_F7GEZ`]?QP\5S'[CZHE^:W+87\SO[RKP
M#+`B]OX.XV[MMM`:'Y9^<'\V[Q&_IM<F_P![^T`?EGYP?S;O$;^FUR;_`'O[
M0!^6?G!_-N\1OZ;7)O\`>_M`'Y9^<'\V[Q&_IM<F_P![^T`?EGYP?S;O$;^F
MUR;_`'O[0!^6?G!_-N\1OZ;7)O\`>_M`'Y9^<'\V[Q&_IM<F_P![^T`?EGYP
M?S;O$;^FUR;_`'O[0!^6?G!_-N\1OZ;7)O\`>_M`'Y9^<'\V[Q&_IM<F_P![
M^T`?EGYP?S;O$;^FUR;_`'O[0!^6?G!_-N\1OZ;7)O\`>_M`'Y9^<'\V[Q&_
MIM<F_P![^T`?EGYP?S;O$;^FUR;_`'O[0!^6?G!_-N\1OZ;7)O\`>_M`'Y9^
M<'\V[Q&_IM<F_P![^T`?EGYP?S;O$;^FUR;_`'O[0%[>9^<'>C;QN\1M^].V
M_FUR=](__P!?V@/)']:\T?\`(/AW_P`31\]_UMYW_P!??_)?_J4_ZH__`+O?
)^LO_`+CZ`__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>17
<FILENAME>pg39.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 pg39.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`_P&$`P$1``(1`0,1`?_$`-P``0`"`P$``P$`````
M```````'"`4&"00!`PH"`0$``@,!`0$!````````````!P@#!08$`0()$```
M!@$"``D(!@<'`0<!"0`"`P0%!@<!``@1$A875Y?7&`DA$Q355I;66#%1D505
MF")3U)7(28E!83(CMC=W"G&!H6(DV!DSL4)2@D-S128:$0`"`@$#`P$$!0<%
M"P@*`P```0(#!!$%!B$2!S%!(A,(46%Q,A2!D:%"4B,)L3,D%1;!T6)R@I*B
M0U-$%_&RPF,TA)0UX=)S@[-T)54G&665&/_:``P#`0`"$0,1`#\`_8#2.R_9
MTZ4M4#FY[3MM+BY.-7P%>X."ZBZP5K5ZY9%6I0K6+%1\7&>J5JCS!#,,&(0Q
MC%G.<YSG0$G]R'9;\H6U_J#JOX5T`[D.RWY0MK_4'5?PKH!W(=EORA;7^H.J
M_A70#N0[+?E"VO\`4'5?PKH!W(=EORA;7^H.J_A70#N0[+?E"VO]0=5_"N@'
M<AV6_*%M?Z@ZK^%=`.Y#LM^4+:_U!U7\*Z`=R'9;\H6U_J#JOX5T`[D.RWY0
MMK_4'5?PKH!W(=EORA;7^H.J_A70#N0[+?E"VO\`4'5?PKH!W(=EORA;7^H.
MJ_A70#N0[+?E"VO]0=5_"N@'<AV6_*%M?Z@ZK^%=`.Y#LM^4+:_U!U7\*Z`=
MR'9;\H6U_J#JOX5T`[D.RWY0MK_4'5?PKH!W(=EORA;7^H.J_A70#N0[+?E"
MVO\`4'5?PKH!W(=EORA;7^H.J_A70#N0[+?E"VO]0=5_"N@'<AV6_*%M?Z@Z
MK^%=`.Y#LM^4+:_U!U7\*Z`=R'9;\H6U_J#JOX5T`[D.RWY0MK_4'5?PKH!W
M(=EORA;7^H.J_A70#N0[+?E"VO\`4'5?PKH!W(=EORA;7^H.J_A70#N0[+?E
M"VO]0=5_"N@'<AV6_*%M?Z@ZK^%=`.Y#LM^4+:_U!U7\*Z`=R'9;\H6U_J#J
MOX5T`[D.RWY0MK_4'5?PKH!W(=EORA;7^H.J_A70#N0[+?E"VO\`4'5?PKH!
MW(=EORA;7^H.J_A70#N0[+?E"VO]0=5_"N@'<AV6_*%M?Z@ZK^%=`.Y#LM^4
M+:_U!U7\*Z`=R'9;\H6U_J#JOX5T`[D.RWY0MK_4'5?PKH!W(=EORA;7^H.J
M_A70#N0[+?E"VO\`4'5?PKH!W(=EORA;7^H.J_A70#N0[+?E"VO]0=5_"N@'
M<AV6_*%M?Z@ZK^%=`44[I>U7_P"33D-W9MOW(GN+<KN1_,U77)?E7S\_@W*;
M\`Y.?A7*#\'_`/2>F>:](]&_R^/Q/)H#IE0?^Q-*?\25S_I!GT!+.@&@&@&@
M&@&@&@.0[OO7WF6=N5W$0/:10=!SFF-G%OU?2-W'V_;<EKRU[.F<WBL&GLT%
M3(T<8<X)%VRL(;8C>=@R0G&BD2T!R9-A-G!9A@$%NGBM;CDYLTW-M]%TR?X>
MM>;VR]D,A<%,^F1.ZMP<DUY,^VA^O=EC7)L-;@AK3<CU@DJ,G*OQE8SIC%F%
M)1@BTV0*AO7_`%`E[--23A^[OM5CM6,>(BKVWML:_&ID)A<=J2"RWFJEUYG_
M`/J"G,$L33=B.:LE`,RVX5#"+/!_]'($EQ+QP[:'O,FE.2N);<I#4$$W9;K:
M"L2+5RIN<>Y&DJ>VUM]A.JO=/::AR85].E5F!!!BLN)>%Z$[`G,@*<0S<"(T
M!CFOQT;N<-AMR[@W>G*;A.X.MKYVEQ)+!5;G84_KY'1&]M96SS2%G/Z2NR7>
MQ761HX5.UA+NSM*=0L_'6)4F3D#'D).@)-VR>,-N"N5-2AKQ3533"-VYO@D.
MUN&W-5O.W$:WNV),.V6S[G=I)4D:NUEB,^C\GA]GUX.%.P7TC+=E>!0,HS_+
M%@`$>U3XZMOI:DW363N+I>FHU8-'U0R3ENVG,DAN>J=T$)L:6VDP5-%*BM>$
M7U64<22B)J9-,FP"NS(<<XQA-GSH<ILY,(XX&];D/%:WS;-(O?\`7M\;<MND
MUW4PFCZ0W%4>ST;/+#7U19\4M#<O"MM<GK.0\M&EDET9L:)2B7$>@+BQ'M;T
M!46;@";))R?(%\MAGB*LV^>P=SY,396IKJNEV/;<\1)WP-SY9C76[52Z96-$
M;&9U'&)8Y?5DU:5K"K1$@":2I1F@-QD>,9R!3^IO%=W,RMNVN[E9[0E+,6R#
M?%=KQ1.W\Z-6#,'7<E"'9S36*.G9U;["X1]%7[I'[-45HIPO;654%=&BW!-D
MPU;DM0$`$E^#[XBE\^(?%'*Q+22T(PQ\VOHI*D4-JVN-T\8E43>Y.Z.9);6_
MS>[(@QU983>0A:S094Q!P<R@J`X$(?F1EB&!F=M?B$[A[2\0>U-KMUT\TT'5
M1;E>2?;,HG-7W9%K$W$QNDI%&X^\SV$SA_!BJ9"S`*=\N*A"06G6X;%B-0G]
M(*\^,`&NQSQ(-U#IN?F&RUVVX1-JNRB7FT;6W!SWSLN%2A6S!#'W-WV]6E6;
MJ::6J=;)O9^/3Q_+&>J-_`W%@D!Q^!D)D_G0*_[%O&7M6\J*LS=#N&.VZ,%6
M5KM!D&Z&10RLJGWD0Z:1X;2W(7<B.GV3>,#8*1FY60&&H,\G'5P-5+!E&IO.
M)N.9H#5GGQM=P#+L:C5PR:KZ!KW=(U[Y(#L]NZ&K5MM6O4E<(;+@BNVXI8+6
MAJ%M?K7EY*RMW-G,RF;D:L[*\2PO!?%(SQ0.@6QOQ#Y;?>Q*X-Z%XP6.-$1J
M5;=SXP3FH$DZ)KO<+3%11SE2GN:H6&UFF.6&V,4E)3KFTE([IP&Y<&PX0#!%
M#!G`%=E?B'^(7!]F]K[W;6VT;7FZIENRYXW>46@A=RS-]ET47#01V1PRG[P8
MG:.,8I2O?XA*252J0Q<PEN;UJ0U(,D6#4YXP,9X@/BU7WM26;@F.IZ1K:Q)/
M5]#[#[-@C3*':5HN5LRW>[BI?2+Q%W,3./SB=O84L>(.;C"`Y.&J.%@[`@8P
M'0$+SKQW+)36/ND0UK35;R"IZ=V[;6;?K&6O#M*0NLVDUTW50-3V4P/6$1Y2
M$EL@1US*2$^4P`GY<6O(3LY"(0`@7,N'Q,+)K;>!.-MS=6L'<8[%=VWAS;=T
MDC7.+^6]JH[O3B5F2&92)000;A"%YABF"DE-98<>8.`<9D_&<X#P`93Q.O$Z
M>-A,WH.,1.#PN?I7TF07)N2S)Y.<P.U9[2X#,JY@4]L*&I"3"POTU3OEGI3F
M]";@92A(V+\Y#PEXS@"`=R7B#>(C1NX7=7`V>%['I14^WC9M--^#,\"77J&;
MRJF6]VLICA\./$F/Y-%V(K5P$)RY05G+5DA3_DBXWEP!DTOBV7")),ZN5U)6
M^=T3W?\`L9KK;S#4SI)P0^>U1O:@D8L1MM-^P>?^/A35='V&P_QK*,>$^#HE
MC'&!Y[.@/)L5\4C<+NWW4/=5OI.W&,U^RW3N<K0V),M1[S3+2-8Z'FD\AC0\
MEW$YP06UD3H]YBJ=>I3A?Q""2>-,6'TP/FL`6'WF;E]_]0[NMKM$T!'=G#K7
MNZY\FD1ACW<9MV`FL7?ZMJN0VO.5DE)A(PL2EG<FJ/C2-04O^<%28'*C@!PY
MP!7JLO%8W-RU)MYW,2>B:1:-B&[#=5W2JC7-$_FB[<S&GM\GDOJ:N+AG\;5Q
MY-7ZR%S6Q(2<!6P-ZL+PQMB].H&>K,*4$A`C:3^)YXA]2N>]5MM6![%'-?M@
ML>F-N,#9(6_7>R+;:W';HV.M7.AD`'29'%M#)`&TVRBLR<T[(%129O4FI\X`
M'`M`6\VT^)K)-PLG\.-A(@$0:`[O:JW;NUT$HWQ>Z+*KN3:.XP6&SB#15029
ME(Z,P+!>'9-DY7CSPT29,:#_`.IG.0)%\5K>_8.PZCJBL6MVFN5S[:.YBMZ(
M6NEJ,5J2F(Q!DFL?G+VX2U3%J4:WRS)$I:Q1$L`$K6C5'""<(62\A#D00.5*
M[QQMT1]);3YXAKG;G'#MR=[;FZXCESND$W?SREK0JRC82P2^'7=3]:5U`%^X
MLN-V.L=E;4$MS9C`I%#8<>,W"<8!Z`MO<6]WQ%XRQ^'^\U0T;%I6AWK2R/T^
M-XF4?W8P@MBM)YB%KV0.1H(E)FF.3AJKO$0KLE,!&\(DSZ!S4"R86$C&,X`W
M6)>)A<#A!*J>Y)6E;%R.7^+A)?#<E!3(XRG+"DB<6D]B1=98\?$O,]/'(5:J
M#A,*3J?_`$V`'9P(/#C&@.?.TSQYMS&X!U>!+*HV]2]N;MMVZ2^IM&ZR8=S$
M9E>VY!2D?FKC6#W<4ALZ)(:VG<%MZ40T<?(51%U4B"XFBR4,P)!N`@3MMU\:
MZ^-SS+$6&IMJ;%)]PA^QV=7C/MO0I<LC\QC6XR+V=44(8X$G7NXLLY=8S.%V
MRAF+6X*CBLK&)4G%Z87P&C"!WZJZ22J8UQ!I9.(6HKB8R.+,KU)H"K<`NJN'
M/3@A)4N$<5N):=*4K5M2@S))@P`XF1ASQ<B#P"$!OF@&@&@&@&@.>O\`->_I
MZ_Q%Z`MC0?\`L32G_$E<_P"D&?0$LZ`:`:`:`:`A.\MRFWG;''6R7;C+PJBB
MXN]NP6%F?[9GL9@32[/0B#%7X6V+9*Y-Q*Y<!(2,X9961"+*`(8N`.,YT!(*
MR=PEO@RNSEDNC2>MT,443Q7/AO;=F'$0E*T#D"B7CD@5`FCDT4Q%Y696X.RG
M]%QYWC\3RZ`Y869LS\-_=/;]PW:LM9V6`9C:EGN\&NJMW'/\:H:S%5;QQIG]
M-RC=)7<9?2XR^*8U#VQN<4YBD2/*YH2I?3\*DA9(<`:;2FU+PJMWEQRN^=N5
M]D7O'&2\X_N0L.@*<W3+YKM6!N8&,E\C=XS.B8S(W"+$SMP=&4IV*R<$MJ7N
MJ+"\:0Y84([`&^K/!)V)+UKBZ*8S8ICHZ,$EC:MQYP5_I0T,KW:%[T70\(O0
MLEA<L7.#."5'%\Z6RF#0\.2\\;0%F7?8'0SQMXW*[83!6`AK#=C8=S65<`6J
M9K$,E7O=_2X^8V@W,3^6ERH8X\_K59Z7T4L(O-H%!A(1?I<;`$+*O!UV$))@
MHEU=TTCHLMQS0*A]AM"!:JFKZ2O6V6Y4EYU#*I##HJS)&ISE[%,4N2#G,0<*
MUC6<8E-&(.0B"!M0O"TVG9M.0VF4R3=/F3[B73=4Z5R1,UF*GY[I13TQI"P)
M:AA`THTS?BSH7.5IDB3DF@)<G/!2L00F@SD0$2MWA%[$*OB%H+[<7VU;%8YV
M\3.C!I=S^X*?6/#:'VRK#VR62Z$5HX2AZ)55S%V_D<V*LNHE9KPA*9$F2UY8
M4X=`9.%^$[L[>J\EYJV8WM?1UX--#GGWI:E^RJVK+65C25@QZ[*7@T)L)[.6
M@9JO02]I3N8DR`H&7<1XSEARDT0#0@6PV_[+J#VP6IN@M^FHRNBTIW>V*S6O
M<R3#H:HCJ^>-+2I:CWU@9AEA*8CG\U<H6N(2Q#"J7J##N`.1<&@*.0_8?X:5
M)7X)S3VJ[HW:EI\AE\$VOS+<L].]);:+:W8K9)&XU,JUH-Y?3&BOI=;3O(7I
M-&,&E&IB5B]6%E(3F#%C`%N*"D>S7:=MR<:?KN]*Z:Z8V+M""H['=Y9;,:=#
M:6''6M`N3L%O298X)RHW(2FQW3&9+<?1CA!/+X`_I!QD"C]=(_!VVTW9#=V[
M=O"JQO<K_#:[WMO36)N\;9!23&*WILT'7X\;8(C))<;$XP*QK"0)`2$QM$8$
MA8'*0OT4L9A`@+W`KS:TLW<W*[%6`T*-S]M;7(%$K%K0JQ&TR0D;=XE+;#31
M2:HZ^"?ET9FE1*;"=D@GKS>4YYW$*XW&+X,@<T-O'A^^&]>56S?;!36_B]]U
MM"UVS0ZJ)YMT2;VFJYZQA<:ADMC\ACT&?H:R)5@6AC/400+6,DT02U37A6CP
M+(!F8P!*_<R\(NKMWL<@,/E-,[?]Q$AL.@]P4=VGU=95?U*C?K!V\M=D):WG
MC7M\8`-@C75RCD\=27(Q*D`-Z1)2A&8%A-Q]`7\HC9M1^W.-7;`ZV8W0JL[Z
MLR?VI+*LD#GE_KIC?K5)!BQV:"QE8F]&BL)F+B)0O5LQ0AH,+5JD91983A`T
M!5RN/!UV55XEG+,K9;;M&'RVBYCM?CD"N:[+&LJ&4SMQGPTHY93%(-#Z]#'7
MD1=<-J(OSI)IKJ00W)""5A9*<HL("'^$'M4C4;DK&_/NX*VGB5S#;?)W:P[I
MNV4V;8WX1M+GB:R*)K=#)Y$$\3?6D0EA1R@QL)*")P$K/&K..-'@P(&@L?A'
M>&W`FR8T:8SO`4=@T--*M?X:^6D\)'$^MK-W**+M_'FU>D/:GIKDC/>3NF!'
MW-,I+4M^4R-*GX<E`X0-@?/"%VL!K"6,LGM3=*?+'BXZRW)2[=!)=QDH<-Q8
MIS0,><&.K'0^VG@A2-ICM;1M:I*1)$Z4A,2`TTT?&-,,,&!XV'PF=@5[,.;/
MM8+]OT(M"@6NL(7<&YV:,VXUT;ZD?5\MF38_U%,WIC,#&'5[,L`U22_-0BU9
MA!*+)9N`D%YT!)[-L3V@3@JU8*W2^63IZ;-FT=\,VW<8M`+Y+6.G6YA6R1H9
M):>G3B5M=JKHY8H5XW10`*I0F5D'9+S@81"`D=/X>FV5-N,V][J>2[T?<.V2
MD14!5SNI?U)C63!@-BUE;54A:/-!3/\`*6)H>7-.A<#<X,3%.RS`0\)N,A`T
M*BO#0K7;G9V;"J_<#O(;8Z.R;*M0ZBE^X)X<=OJB46S(9++9D6?61C,6C,9U
M<HE:MP*3>?XI2K(1XSG(?*!/]W5E1#Y;6U>Y+<D94:G%,V9*6V@A+I8GCC8_
MV1<==2.O%L6$VJ<@!+7AWB2I=E"A`+SV#2A&@P+B9QH"@$0V:>%[7&]:-0EI
MNO!=WQ6=R3=!5VPU[W2+7"M:UMB6D/3Y(;RKC:FNDF26*3*0OKH[)LA3&M[8
M8O4KT*5,(>3L`8.XJ;\'6TTUD[K;NO"E9M3CGNKKRU;>.GET01_VV/FX"`TO
MF@JYC$^87L:R(.J-##EI:M"R*QC)5.F2EP0F9P7H#7__`(Y/#)S4K%NBH_<G
M,MME`Q&3WG?,%N3:YN;8*BI:NVN^6Z"L%Q)8/)V)*;"8E5[TNK%"<8V)C"T2
M1TPHR#`!F9!@"Z32@V8;O(IM"9XUN*9K^*IN81O<A1,KBUUL4VE%AOVWM&HK
M5QG,D?V10L'/DC0XS_":1CXH,9=%Q83\EF#"#($2O?@Y;73E#2KKZ<[F*(41
M:]+KW!P$VB;L=*]'6LSW$LC<S7&RUZ),TK<QBOYH:A&O.8R<Y0D."Q2:0$O!
MP@:`L$\[5:4;&79_&+5LZV)X_;=KQ#8-'S2VK/5R2Q9I;)T-LQH2I)G)%*).
M?.1%0^8/`24HRRN*0E*SP\!'E`T%K\+3:XT;D,;D49EQ>FE74\;ET-**+AF:
MG;:U;DY"RK&%YOMLI@Y:*.I+(7)')4=D_C91%KE)BLM,!2+SN`(V@'AE["IW
M6-`&U*\R1\B5%5CN1VZ02Q*_M(+@ME53W2JET-NVJ)W*&U.J1SB/-LO.6&D)
M%`>.QO[:`TC)1Y)F!`2?M_V0[*JJW0.-WTF(LS<)36V2KMD%AE-\X+>5J"LX
MFSP^45HDM".D\(N<04/:&D:=S4A)5*FCS..*(KS60@7J=9Q#6*41*$/4I8&F
M8STN0G0F+.#JC2/\M*B2)*XR@R.M1YP%CN"/H%I)RS)`!X3E&A$/@P+&=`;5
MP9^K/V9T!\:`:`:`:`YZ_P`U[^GK_$7H"V-!_P"Q-*?\25S_`*09]`2SH!H!
MH!H!H#E3XA&S+<1>\]@-S[8)=3[78\;H^]MNCBV7:%W1-T>B5\*H&XN-HU1*
MVF#V@5$[4C"J`E(QE+HVZ-SXS+U",\2;&`F9`HY-/"AWVO4/%4I6Y"H97"76
M$5>1)YB[++`KMW72Z#["K=VB/L;:ZBA,67UNRUK)IG-6F3Y(3*BBBBTAA7H&
M3RB31@7!VO>&X_[>-K.^:DR%]:E3C=@OL!8TO[";)S(^EY4;;X-4#/RO_$FX
MM:$:.7L;FN/]#3FXRB6`XO&,X2P`<^5W@=[GXG6\DKRNMRQ,H+DD>VB$NLIL
MBV;(*LAW8:&A,]C$TVMJYT;`)TSI=M9$WEY,VB)W)U0YI7(DUN7)32?0EJ("
M7%7A0;WDEM3*6Q'>+^")IAL[,V_N%G22=V7.+*Q/2J!BM:-TJC+.>R,*V"`!
M8,<$\JUQ4K<2SRU!RI.U(WI0:Y8`\$G\+C?7BOI8RU=;%,UWBP8?NJKA'39=
MQ;AG.L-NL6OR%T&SQYTJ2=K(JHFLR>6.:4VZOYZ=>W,A*17,%84)H,$F96@;
MQ)/"IW`"1"=FZ<UO/GY^W.;I+=G<1G-N[BX;$I3';:<#<[=).HF%=&D3I#-M
MJ[>(T30QM_X<V&&N:L25Q0*@DKL`1[(_"'WC/KGO3<'7=6ODP[_<5:N'&XN:
M>0PF2(SK^8+6C3=.&9/4\L;X<FK*`LXXD@3J16`@=FX\PA00F;S34.0+\UEM
MUW5@V161LFMIPJ]V=A[-W"FHI=;*ZRC#-([,L&,VI%'="Z,3FF7/B6*5\SJ8
MX'+F`LHQT,.5#(;T8"RTA8%#6?P>MU<>8I$9$=S3+!+`D\+W"0%UE\?G=S'D
M&PV<4SMYAE/PU.S9&VH6A@BTUJA].5#;PHU38C?<JF\8E@S@:`Z2T77.ZC;G
M5T5@<:JK;]EC%,B%BB"1.Y[OE:"MF::7*VCDK9%Y-;+.:N>8S"JF7.+L1@HM
ME3#>P`;D+0E1YP;H"F6Z3PJKIMW>O(=X]8676\9=E]N;'Y`9&9(;*?1)U3VV
M5Z-G$TKV:!;F)>G;WA193$PN\:7I<*<I\$+23\E`5BT!7"(>"[O&AL/O]M?M
MPFV^]E^Z^N66077%YW7MA5<Q$;FH=N(%N%BTV9+!J!];+)?5I"^9R1H1S948
MED+$2B8CRVY<2C$@`!D$'A7>(-'X>F:299LIL=YL2A]W.WRTL6\JLI\2UY$M
MSELQF>H7N//;)430Z[E)Q$FYG4B<GN5D1ETD:Y0'TH_'%RH$!G4/@P[H4M]'
M7:9NTA)B)R:GO;>Z10N`J"9?W.5^V9#MB;@%74`'*M793<6P()Z&/FH@QP,Q
M$H'A9PCRJ&!/VP;8EO+H;=%%K,W%*MH'-C4.S)-M"ILC:RT32%OBUB8Y)63H
M0]6O'Y3%TR=PR\B@YSBW(4CHI31E6X+R"S%@%03P`2:#95N;BNZ2Y93!5>T1
MZH>_[Y0;CI#95J0672;=;3\S14LRU,G8ZE3D)`01>?'%$82KXS(5SJD.CZ=8
MM1Y;5H!X,R!25G\'#=,[Q^-1JP+OA>(RU'-^9G"V*W=PKLRVO/(_MBW!52JW
M,REW>"T+ZW6G<%N6;&9#(8\2(]F1%1DLW"QR5X*X`-`L7PIMX<>*J"I(<_-5
MFQB4J9`Z2MPD5Y7^UP*#6$#P_P",4O*;2FDF1'KI\>\RO<HR'3!F*3)EA2MR
MP4<I]`6&94IP+$23PK]X3Y,;(<%^Z?#^=*ZZGL9.NO-IW-"+AL1IEFVR*4ZP
MT;*X]&TBZ&5[6T-M)D5SE-)&@]R=QN*KB_AH3C5RE8!#*#P9]VSO$*89[2M2
MDK'2TJY5Y((Y73M++,2Q)0M@>\MHOTAO>'9H@C4R*W@ZKL.+3^.M\59R<+E!
M2<IH(2A&H$!=?8-X>VY';+$=V3)=NX,ZX7N^&8UF9'-=-)+*&UT?Q%V(!PMB
M1M3Q#(V*%RF8$3!`F<4"4Z0&A(:2O..BP($Y:<"H%=^##NJ@L)8D#%N=9(!9
M;=!'>K0V-!YS<)F8]7ZGPYXEM=9F*,QE2!J82$S1N-C`9D`!1*(TM,$I84<!
MR`$L(&E*_!7WC*\A/BMUUO0C.[7V?:2^LJ8N6ZCV&*C%2^WBLH_9+9/YG6[C
M,);8T!=JB?%B!N,3LQ9I4BS@EW09">$\#J)L^V;WO0N[+=%>MD3B&RRN;Y5/
MR^MH$TS"T'E3MZ(,L9Y?CXE$$,K_`/ZLM8;<(<`2N2GIT[88V2H9J!"4<T@2
MB(`Y]5MX0.[W-@RMTO"\X%*Z\L/<#2EMV;$(W:=V)&J<M]=2/<8IG0D\;3QR
M,EQ0RQ8S:<;2FM.7)TP/\",+7.BT'F!8`SM=>$ONW8+5V<S2R[EK6W"=O;UM
M"?GJ82RR;L<)A$&[;K`;&A,XKJKXPN8E45E+)9CI*D+\)Z>U"%SPM*.*4%'9
M`D4%`2_;OAP;K)+X@#SN>INR-OE1P9^E*6PG"49;;!F4S<I0U4`[4VR9E.WF
M:I9-1SQ/6I<>D$GL)D=XL^`CY&6LY"J"(TX\"H5)^"+NRB=;N5%S.\:WBM*N
M&XK:E?+>FJJ<S(5SPY[I5601:SS&KQ,IZ&2K*B8MZ,D4-9A@*:8*C+"TI,F)
MPX58`ZD6YX<,?0[*HKM:VO+66/K*LNB`[BH<7?"V367$K1LV%78EOA_17XXF
MJ5<IDC1:LS]+-=UI/G3TBI4!20G,PG`F$!4.Y?"_W1;B1,5E3A?M,J"[6"J-
MQK9%B=MY]Q0&&P>Y;5O&B+)@E@@D2-O:I#/)&U1VK7(#[(5;<VG+W)<2(MKP
M$)AN@-4;?"$W4.-HVU(+)W/F3J"69NDJZTY*R+;/LE"58]21C<9(+9?8](8W
M'8G&\0Z1-%5NB>$-R,EY?$C@WE#`:L0H/,MY(&%AO@[;OX/&ZZ8(9NR3P!R;
MHQ7F+`F++9%VR=Y4V;$J_P!YM?J[(8D<G,XCBO2--Y00"(D]0A`85$>(/S64
MB$0@/)9/A/;W9A7=(1*"V#1E*XJ^:+9X)B@EZ[GG$MEGJ-SHQ8@L5EGDSCDD
M>G$Z7%5S(LN4>;FV)HDBJ1!.RL<!9<OQ$#==NWA1;L:+W0;<+B3757F816+Q
M9ZBQ(^"96*^-CA&9Y;>X6P3(]`:Y6PQG0QY^=&^VVP"UT(D2!N-5HSAK6AU&
M2B/`!LFZ?PF;NO\`W![G[69K4AK!$KG1V<\0ED*FEKQ)W8['<]F%7[?Z@E\E
MY$I4*=6?75KP0Y_)%@]7Z*F$2>0`2K&2@`1);'A`;T+%M"PYZ@W&P1GET@CN
MXU*P[@#K`N)5<AA=W5K443C=9FQ@Z/J(5"X17JB!.S24[-:DY<<T/'I6$0%7
MI9"H"18'X66[6(/NRUW,NF(N##MME3W*+-K]\MFX'UMN".2>]3)_':8<'EEB
M<"9CX+MN8\@?8<I/CP"G"3`"VG-K>Q8R6(#]!>?IS_VZ`^-`-`-`<]?YKW]/
M7^(O0%L:#_V)I3_B2N?](,^@)9T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`
MT`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T!
MSU_FO?T]?XB]`6QH/_8FE/\`B2N?](,^@)9T`T`T`T`T`T`T`T`T`T`T`T`T
M`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T
M`T`T`T`T!SU_FO?T]?XB]`6QH/\`V)I3_B2N?](,^@)9T`T`T`T`T`T`T`T`
MT`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`T`
MT`T`T`T`T`T`T`T`T!SU_FO?T]?XB]`6QH/_`&)I3_B2N?\`2#/H"6N#/U9^
MS0'QP?\`C]&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@
M&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@&@.>O\U[^GK_`!%Z`LY4
M`E0=MU6B1'+DZT-'0H2-0V(TS@Y$*L0-NRG.;T"S`DBY<4=P"))-QDLTS&`B
M_1SG0'YPJ\L#<DNHZ1M)MP[MG=H@^Y>6J"K$D$4WX'.=_25-")F@;*:"AB0X
M!?>WU<?+2T8G9#^-/5?HGPY.2B&'S2AKT!8Y]L#=$KELZ4NSCO#B2Q1(I`=O
M!B;4EMEUCE+4.;N1IU+5YVVU[CT=.;%<U*VW*Y+EP<*],7O:U.2O7K,!="$0
MRP.N^RQQG#KMM@*Z?+)XY.!JZ>`C+K::-S06:[U<18DK3T\[V`E?$J%_#+G2
MJRF=0M$Y$E.9IIF1K0A5B.Q@"0WB1WPF=7%.Q5+6SLRDJSBVMS<KL?&5P7H0
MBX"%2QH(IAX);5!H/*(D*M2$&?)@P7TZ`QW*G<;T*U3U_P`@[!M`.5.XWH5J
MGK_D'8-H!RIW&]"M4]?\@[!M`.5.XWH5JGK_`)!V#:`<J=QO0K5/7_(.P;0#
ME3N-Z%:IZ_Y!V#:`<J=QO0K5/7_(.P;0#E3N-Z%:IZ_Y!V#:`<J=QO0K5/7_
M`"#L&T`Y4[C>A6J>O^0=@V@'*G<;T*U3U_R#L&T`Y4[C>A6J>O\`D'8-H!RI
MW&]"M4]?\@[!M`.5.XWH5JGK_D'8-H!RIW&]"M4]?\@[!M`.5.XWH5JGK_D'
M8-H!RIW&]"M4]?\`(.P;0#E3N-Z%:IZ_Y!V#:`<J=QO0K5/7_(.P;0#E3N-Z
M%:IZ_P"0=@V@'*G<;T*U3U_R#L&T`Y4[C>A6J>O^0=@V@'*G<;T*U3U_R#L&
MT`Y4[C>A6J>O^0=@V@'*G<;T*U3U_P`@[!M`.5.XWH5JGK_D'8-H!RIW&]"M
M4]?\@[!M`.5.XWH5JGK_`)!V#:`<J=QO0K5/7_(.P;0#E3N-Z%:IZ_Y!V#:`
M<J=QO0K5/7_(.P;0#E3N-Z%:IZ_Y!V#:`<J=QO0K5/7_`"#L&T`Y4[C>A6J>
MO^0=@V@'*G<;T*U3U_R#L&T`Y4[C>A6J>O\`D'8-H!RIW&]"M4]?\@[!M`.5
M.XWH5JGK_D'8-H!RIW&]"M4]?\@[!M`.5.XWH5JGK_D'8-H!RIW&]"M4]?\`
M(.P;0#E3N-Z%:IZ_Y!V#:`W^%N=@N1+@*?PZ,1!04<0%L)C,[7SDI<0(`\J#
M5AZZ#PD3<829@(0`"!1@S&<YR(/!P9`I5_->_IZ_Q%Z`M-22Y&U[>Z@<W%42
MB;VZF8"O7K5)@2DZ1$CA+6H5*E!HLX"62G(+$,8L^3`<9SH"!8[XBNU&0TA-
M=Q1LZDD4J6!OB!A=9#/:SLB#*W8Y]6)T44<(;'Y+%VY_FS-,S598FI4U)E9:
ML.1<'%$6:$`&UNN]FB69ZN!E5*;&/YCG)MCDT>&NH;.>(XMG#TZQM@9:X@KX
MU1=8@L2QWA_EJ%"E9&42U><K-&6$O(B3L``G6K[-AMR0*.677[FH=HG*4RD]
MM4K6IU87-.H;W!6SO#0],+ZC;GQ@?V%[;U*%P0+4Y"M$M3FDG%@,`(.`-_X,
M_5G[-`.#/U9^S.@'!GZL_9G0#@S]6?LSH!P9^K/V9T`X,_5G[,Z`<&?JS]F=
M`.#/U9^S.@'!GZL_9G0#@S]6?LSH!P9^K/V9T`X,_5G[,Z`<&?JS]F=`.#/U
M9^S.@'!GZL_9G0#@S]6?LSH!P9^K/V9T`X,_5G[,Z`<&?JS]F=`.#/U9^S.@
M'!GZL_9G0#@S]6?LSH!P9^K/V9T`X,_5G[,Z`<&?JS]F=`.#/U9^S.@'!GZL
M_9G0#@S]6?LSH!P9^K/V9T`X,_5G[,Z`<&?JS]F=`.#/U9^S.@'!GZL_9G0#
M@S]6?LSH!P9^K/V9T`X,_5G[,Z`<&?JS]F=`.#/U9^S.@'!GZL_9G0#@S]6?
MLSH!P9^K/V9T`X,_5G[,Z`<&?JS]F=`.#./IQG&@.>G\U[^GK_$7H"U%($&*
MMOM/I251J$U334!3E+2"DQQR,PZ%-18%1)*TA2C.-3B%@80'%F%"SC@&$0<Y
MQD#D\W^#,G?ZIM^!V5N-E;4^SR83N2PA3MV:GZAJN@*J:-CJP.\IS2S/.G>)
MN,YF+.ZF?CAJ4;>W"SP%HDR4/GAJ`)RDWAJJ'FS)+:;+:<#A\I2R5-.ZS?XY
MM[C[1+E4W1617EH-CCN;E++,VA3N9;F-^KHHA$$XJ/.04KBL,.7'+A@6``O5
MM^J512-5LD!<929.'\MXFDOETP&SDQXJ2S>QYK(+#FCL@CJ=8Y$Q]G42>3JO
M04'I*H21'@HH9YXP"-&!\O-!5N_.SB]N)<[RO=5ARY9E#<-P-"+*A0+(S<I6
MIHG:%K;R.-G]$I.244#'D"'&/)H#&]VRJOU=C=>5X]HV@'=LJK]78W7E>/:-
MH!W;*J_5V-UY7CVC:`=VRJOU=C=>5X]HV@'=LJK]78W7E>/:-H!W;*J_5V-U
MY7CVC:`=VRJOU=C=>5X]HV@'=LJK]78W7E>/:-H!W;*J_5V-UY7CVC:`U>;5
M%M\K>(R*>SU^F$1AD2:5;[)9*^W]=B!I9FE"5DU2L6JCK'P$``!QP!#CA&8/
M.`AP(6<8SL-JVG<M]W*C9]GHLR=TR;(UU55Q<ISG)Z*,4O\`D2U;T2;/%N6Y
M8&SX%NZ;I=71M]$'.RR;[8PBO5MO_E;Z+5LR$>HVC9:PLTIB[G-G^.2)L1/3
M$^--^78N;'=I<DY:M`XH%A%D#)4I%:8T(P##G.,ASK#G8.9MN9;M^X53ISJ+
M)0LKFG&<)Q;4HRB^J::::9EQ,O%S\6O.PK(6X=T%.$XM2C*,EK&46NC33U3,
MQW;*J_5V-UY7CVC:\IZ!W;*J_5V-UY7CVC:`=VRJOU=C=>5X]HV@'=LJK]78
MW7E>/:-H!W;*J_5V-UY7CVC:`=VRJOU=C=>5X]HV@'=LJK]78W7E>/:-H!W;
M*J_5V-UY7CVC:`=VRJOU=C=>5X]HV@'=LJK]78W7E>/:-H!W;*J_5V-UY7CV
MC:`=VRJOU=C=>5X]HV@,+)*%JR.QU^D!;%<$B&QLSF\`8(W<]V+Y$^";49RS
M#0PH3[.1DK7AQR3YI,4(TL)APPAR(.,\.O7@8JSLZG"=M5"NMC#XEK<:Z^Z2
MCWV22DXPCKK)I/2*;T9YLW(>'AVY:KLN=5<I_#K2E9/M3?;"+:3G+32*;6K:
M6J/R]4'XO<(-W)V<T[GJQM2$T"O<5*2*)8Y9NX%SGE&&,(QMF4]@(TT^PYR8
M#P>3G\5R$D"AN<,Y"04(GA+#_0'F7R784>";?D<`SH97,H5J5TK+8QQ]P5FD
M]<>3?95V)_N>KC;7UG)3]YTGXK\V&3/F>=C<SPYXW%93:J4*V[L-UZQTN6BE
M9WO^<6G="?W(]ONKLI`-Y?A+V3E.7'MU:5`J4\3`44TO[<)7JDL8_H+-Q.)H
MP%!'C^W@'G&,_P!NJO;S\NGFW8NYYG'<^=<?UJ%')7VK\/*Q_H+%;9YQ\4;M
M&,L?>L2MRTT5_?C^OL_?PK7Z2ZD0KG;#8)`54"GRV;IAAP("B([G[2DA(@B#
MQL9"8SVJL!G&0^7Z=17N?']^V6;KWG"R\2:]EU-E3_-.,21-OWO9MVCW[5EX
MN3!^VJV%B_T),WCNUU7^JL?KQO+M&UJ#9GQW;*J_5V-UY7CVC:`=VRJOU=C=
M>5X]HV@'=LJK]78W7E>/:-H!W;*J_5V-UY7CVC:`=VRJOU=C=>5X]HV@'=LJ
MK]78W7E>/:-H!W;*J_5V-UY7CVC:`=VRJOU=C=>5X]HV@'=LJK]78W7E>/:-
MH!W;*J_5V-UY7CVC:`=VRJOU=C=>5X]HV@'=LJK]78W7E>/:-H!W;*J_5V-U
MY7CVC:`=VRJOU=C=>5X]HV@)!A-=QBO2'!/&0R`)3H<0>K_'YI-)F9YQ,`99
M7HITSD#^<W@XIF>,!.(H!F>#(L9SC&<`4L_FO?T]?XB]`6?IQ::W;<:J<2/P
M_!Z"D80M)R[+OPMJP<E@K:>7^)N?F5'X<W\<O'GC_-C\R7QA\7/!P:`X;J_%
M]NJI]M5Q/]QI*S<=R<4F;B!H9FNJ[+0U1!(04F7/0WN42JO)9=,8GD8<D#,L
M2P]W;)`B')E62PJDS:$E2:$"QTCW^7V7,S&^-KZ1!&KELZ?T]30'.&RT^04:
MMKO=%4NVL5EW26*Q&GEVP3,FT/QQ,U$IXF:A5%HFX2H_TL:DD#HYM4M23W+2
M$<FLUS&3Y:3(K)@TB=H40L20N2NU767+JS62^)(W%Q>%J".RXV)Y<DR8U8L$
MD+4^9](4>;\\,#9WB[XPR.KBSJ8G<RM0V*SD1ZIFHJW7QI4&$"XHC6YY:8:L
M:W1&//\`@/3FF%&8\H19QH#&]X*)>Q=\?EVN[X%T`[P42]B[X_+M=WP+H!W@
MHE[%WQ^7:[O@70#O!1+V+OC\NUW?`N@'>"B7L7?'Y=KN^!=`.\%$O8N^/R[7
M=\"Z`=X*)>Q=\?EVN[X%T`[P42]B[X_+M=WP+H!W@HE[%WQ^7:[O@70'`_QO
M;+!N78J3VI465N$D%\/TF6S=11+;`)A%&M_@K8UKS12N;Q^1QEJ>G<32X-HA
M-&21C3$B`J-.+XP2!XNQ\HDL7ARWSRGRNG$QN%86/&AYUT)ROC?.4?W.&HZ]
MW=&25ZA!S>M<(OK)%2OF>KR>5K:?'7&K<F_EF7=*W\)5.,:G3&,OWF2WHHZ2
MBW4YS4$E;)K519)7@AVRSU+MVL"A;!5;AU]S55:+XW3ZGE]9SN9)J<(5FG99
M6^-HXK%G94P,T@R0>>H(5J.'+B`\1119>0C.T/S@QCN7-MNYCM>-B/BV[;97
M;BYM$9:YFB7>\B3Z?&KUC&*[5)5."DVTU'<_*[*S`XCG<6W/(R?[2;;GSKR,
M6YK3&3;4/@KU^'-QDY2[G%V*3BDFI2[3=X*)>Q=\?EVN[X%U44LX.\%$O8N^
M/R[7=\"Z`=X*)>Q=\?EVN[X%T`[P42]B[X_+M=WP+H!W@HE[%WQ^7:[O@70#
MO!1+V+OC\NUW?`N@'>"B7L7?'Y=KN^!=`.\%$O8N^/R[7=\"Z`=X*)>Q=\?E
MVN[X%T`[P42]B[X_+M=WP+H!W@HE[%WQ^7:[O@70#O!1+V+OC\NUW?`N@*=;
MY_$,8=N=!2%[A<5LXZZIN857M$1B3T_9$6!);-DN<(&?"0Z4QAJ0.&6/!V5P
MTH3!&J<DA)"'(C,<$O\`A'QM_P`3.<T[9G/X7%\.$LO<+F^V-6)3[TTY>D96
M?S<7[-7/TBR,/+?/%P'B%F?B>_R#*FL;"J2[I3R+>D6H^LE6M9R7MT4/62(Y
M\/.G*MVA4@G02NO;FE-_VB2"6[BK#<-NUTO;I+IL]*%#TX,IKHI@A_I3%&UC
MB8G)"#/F5)P#%6<9,.$+7M\V>6\_R5RV5NW3GC\-VZ3IVW&C[D*:*TJXV**T
MTLMC%2;?6,7&M>[%(\OB;QGA<"XTH9L(7<ISE\7.OE[\K+9MS=;D_6%;DX_1
M*2E8]92;)UL&MMCEJ@.#8>S91*S3\B$:N<ME=A?BHA#_`,0L.Z:L4[H`><_V
MA.QG7'[+Y2\D<=:_J7?=VQXKTC'*N[/\QS</]$Z?=?'?`][U>Z[/MMTW^L\>
MI3_SU%37Y&4LF'AC^%])%0G&/[<-S=5NV<Y$!UJN!;IXPH(,R+CY,3I5,>=F
MH@7#P<&`I\!QP>3&-2IMGS8>;<"OX&9N5&X8W[&7BX]J?VM0A-_ED1YN'RX^
M*,VW\1CX5^'DKTE1D71:^R,YV07Y(FCAV*O<"$+.WC?MXI-5IP?I)&:6U%<E
MJ1TCB\&0%#:5D(C9!A.,XQC]+`L\7']NML_F1V+>%IS7@G%MPF_6=-+Q+']?
M>E:]?RKJ:M>"-XVMN7%.7\@PU[(6V?B*U]"[%*F.GVIGW94^,!6@`X@VZ*/W
M^A2^4ENN38O>L'=%80^7!9[G$*M-%DP>,<7A$MX,>7/#C.OG]L/E4WZ6N[\5
MW[9K9>LL+,5\5]:C=8NGMZ5_D/U_9?YB]FKTVSD6S[KIZ++QO@M_:ZJF_JZV
M_EU,LT^()XLL,=$358?AH"ME.8,)1CY3G.9#$QF`_P",\14\CKME)Q_[,&A*
MQI'@7RP\@_\`(.:;GM=\O2&X8$II/Z'95&J&B]K[F??[8_,#LS2WCBVW[A4E
MUGAY<8:_9"<[IM_0NQ$L9\8OD*9YG<5L'WN4CYO'"I=,5CRWC2?`<?IF?C:4
MYB\^G#GZ!EDBX<>7@U^E\L2W==W">8\4W9OTA^*^!:_J^&U9H_J<D?E_,`]L
MG\/E?&.1;=HNL_@?$J7^7)TZKZU%D42C_J%-I#;<%9Q&.L<Y=JI?"%P+5LYV
MCKO'W&M7$[("65.1"E:,;S(R4)P!C=QD8X22!@REPJ,P,O'0X/R6^2+>+[AN
MF=;B5\AH:>)BUV0M65%)NQ_&B^RMR6BI3^])-3^&FI&@S?FPX%5R3!VO#KR+
M-FNU61D2A*#QY-Z02J:<IJ+U=K3Z1T[.]IQ.N[9N5@#TVM[PSQJ[G1H=D*1S
M:G-#M[NQ0B<6U>G+5H5R,\$%XIR56E-"86+'D$`6,ZI[D8]^)D68F5"5>55.
M4)PDM)1G%N,HR7L<6FFOI1:*B^G*HADXTXV8]D%*$HO6,HR6L9)^U---/Z#V
M]X*)>Q=\?EVN[X%UA,H[P42]B[X_+M=WP+H!W@HE[%WQ^7:[O@70#O!1+V+O
MC\NUW?`N@'>"B7L7?'Y=KN^!=`.\%$O8N^/R[7=\"Z`=X*)>Q=\?EVN[X%T`
M[P42]B[X_+M=WP+H!W@HE[%WQ^7:[O@70&_PN>-4Z)<#VMGF[0%M.().!-H!
M,H$<>)0`9@!MY$Q9&4YS)!@&<&#("8`L6<8%G&<XQD"E7\U[^GK_`!%Z`M?0
MH`F4-2Q8P!,`945=`&`8<#`,`X<T!$`818R$01!SP9QGR9QH"-*YKO9?7->3
M"-U;%]N,3JJ>V&^M4Y98DFKU#!)59SXX^@/L>D*1`+#&YRM2XXPD$V'8$>7D
M(4X20X"$O`&1>*_V?+Y-=1+]#MN"R932*)A;ARG9EK4^2R:$-:<@:0VX2U9`
MG1RC*!,84(`WC`DQ8<@%C./T<Z`F^%LT.CL0C+'7C7&F6!MC$V)(<U0U&V((
MF@C1:0K#,GC:-E`4T)V4"'(/1@I@X)\UP<3R<&@-FT`T`T`T`T`T`T`T`T!6
M;=YNEK[9S0TSO*PS<GI6!-A#%XTF,`%VG$V<@&E1J'LP!<(AJW9:#_-&$(_1
MDI9IXL9"4+7>^-/'N\^3^88O$ME6D[I=UMK7N441T=MT_JA'T73NFXP3UDCC
M>?<VVOQ_QC(Y)NCUC6NVJM/25UTM?AU1^N36LG^K!2F^D64W\-+:S8,;!.MZ
MNZ4K\1W=;I<DO[Z0M+%PU%69_F5,3JMC3&Y%EGPG;RDPUQ(>`16"4Z8?Z:<8
MC)0\\>0MFSGB>*O'S^'XVX]K76XO_MF4M5=EV-??UDY*N7H^Z=BZ32C'OAWA
M.ZXBR?(O-5W\[WKWY*2_[-CO1UX\%^I[JCWQ]8J,*WJX-RA_Q`HQ(=E.X^O/
M%#JAI7+(AC#14F]F',I1@N4]6NZQ"VL-CB2$YXA[Q$E04Y0C18QGSA"+&<X+
MRHSGI_#&X87E7@V;X`Y'9".Y^_F;'?-K]UEPC*5F-J_2%R[I:+V2MT][L2T'
ME3"R_'7+\3S/L5<I8'NXV[4P3_>8\W&,+]%T<X-1CKIKW1IZJ/>WVDB\GC\V
MC4?F,3=D;]%Y4S-DACKVWFX.0NS*\(R5[8X)#<8QQR%:,\`PYX,9X,^7&,ZJ
MON&WYNTY]VU[E7*G<,>V5=E<EI*$X2<91:^E233+$X.=B;GA5;C@61MPKZXV
M5SB]8RA-*49)_0TTS.Z\9ZAH!H!H!H!H!H!H!H!H#^##"R@#--,`444`1AII
M@@@+++`'(AF&#%G`0``'&<YSG/!C&-?8QE*2C%-R;T27JV?&U%.4FE%+5M^P
MX5[>@&^)#O\`95N[=BS5^U79DZ.E5;74:@)@F:=VZ'!69K;"8L98"59+4+B#
M2&\'#CA;\AS@P@W&K><U<?!GAK'\:XS4/(?**X9>ZR7W\?#Z_`Q&]=8N?537
M_MD_=G$K+Q-2\O>4K^>7IRX3Q^<L?;D]>R[)Z.S)71)J/247U_U#6DH21W7U
M4(LV-`-`-`-`-`?/&S]>?MT!R!\1#PGJNW<F.=UUWQZYW1QJ-GJ(=(6?#6BC
M4YE3&>C<XD58[<J;U)#@-*:@$C)7!R4<66I#Y_)Y)!96+,^$OF-Y!XV5?%-[
MTSO']]Z5U<^^5N/38I1N>-)23CJI*;K>L6XOL[)3E(@#RUX)V/GLI\DVK^B<
MTHJ;JG#LC7?9!J5:O3C)-]'!36C2DN_OC",2P7AW;QL[NJ5.-F;;R0W"5`[F
M5GN(KM2G"WKXS8+'DU$H<BFSR"2LDGRB,4)\8QQ"3@GI\9%DC(L\7YM\8?\`
M#7E2CM=GXGA>YU_BMMR4^Z-N-9I)0<_;.KN49>V47"?3OT.M\3>0/[><=?\`
M6,/@<JP)_A\ZAKME"Z&J<NWV0L[6TO2,E.&K[&R_>H:)2&@&@&@&@&@&@&@&
M@&@.>O\`->_IZ_Q%Z`L]3R++GMOJQMPG)5Y<*/A2'"10N6-:=5E7!&Y/A.>Y
MMQ9S@W$GY,XHCR`".)#G(P8R+&,:`X(P/P][[1;8KQIMPV?0QL:)=8DD;*@;
M3IKMJ77-56%\>?(X;88YRJJ7,!L&!JT@D;(G>5J9):":.&+%!1N5IB4I,!-K
M_L=W(CL.VI*CJQBD+9*IE#+,NB/2FP*LDD)W5+(E:5,3I+`:R$Y0%LGU:1I=
M&X&ZH%[1-5RUH,'EN1FGKR`"<4X'5#9S5\FIS;S"X)+F!EASNF=["D1<`CCB
M2[L%:LDYLB6S>-5BSN:0A,@5H*[CLA2LP,I"PH0^A<5+CT8)6@-Q>H/<RYW<
MEC->Q;$TJ5AYS<S9JN+NF6M&,><D(LN2IR+4+LD`\GG1A"(?TYQC0&,YO;X^
M8LKJ=B'K70#F]OCYBRNIV(>M=`.;V^/F+*ZG8AZUT`YO;X^8LKJ=B'K70#F]
MOCYBRNIV(>M=`.;V^/F+*ZG8AZUT`YO;X^8LKJ=B'K70'A=(A<[(V.+T\[FF
M]J9V=`L=79T<*DAB1`VMK>G,5KEZY4>[@)3(T:4D1AI@\X"``<YSG&,:S8^/
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M2P2;7BVR.(3%C<XW)6)QIB'FHG9D>$9J%Q1'@$YYQQ3DQPL8SP<(1<`L>7&-
M>_:]TW#9-RQ]XVFV5&YXMT+:K(^L+(24HR7V-+I[5T9XMRV[!W?;[MJW.N-V
MWY%4J[(2])0FG&2?VI^OL]3DWL8/O':Y?TX\+J;7BJC;;"VU;8VTB4O4"9)'
MSF5"Z+5KBYL1"]U<"O,O44/$:+T$G`@%>86A!GS1)6-6A\W[7@>2^(8/S"<8
MJC"S)[,3>J()?N,Z$8QC>TNJA<M%JUU[J6_>G(KYXEW',X%R;,\*\ALE.%+E
MD[5=-O\`?8DY2DZM7JNZOJ]-?6-R2[81.Q/-[?'S%E=3L0]:ZJ>60'-[?'S%
ME=3L0]:Z`<WM\?,65U.Q#UKH!S>WQ\Q974[$/6N@'-[?'S%E=3L0]:Z`<WM\
M?,65U.Q#UKH!S>WQ\Q974[$/6N@'-[?'S%E=3L0]:Z`<WM\?,65U.Q#UKH!S
M>WQ\Q974[$/6N@.6_B4V3N-CC=6FS2J;PS,;ZWDNBJ`-S,AKQ@CAT/JH\LU)
M8-@N;TTN9CBRHDC:(TDLX(<\)(%8PYP(CR61^7?AVTV[EF^5^9Q7]A.+5_B)
MIKID9:ZXV/'7I*7?I)Q]LOA1?29`_G#E&XPV_%\<<6;?+^0S^!!IM.G&?2^Z
M6FC2[=8ZZIJ"ME'K`O/06TJ:[:Z@@M)59>:=EA<"9BVMN(S4$0.5+51AABMU
M>7-5ER`-8ZO+FH-4J#18XPS#,_W:AGG',=WY_P`LSN7;W/NS\V^4VO97#TKJ
MC_@50481^I:^K)4XAQ?;>&<;Q.-;3'3#Q:E'7VSF^MEDO\*R;E-_6]/1$P\W
MM\?,65U.Q#UKKE#I!S>WQ\Q974[$/6N@'-[?'S%E=3L0]:Z`<WM\?,65U.Q#
MUKH!S>WQ\Q974[$/6N@'-[?'S%E=3L0]:Z`<WM\?,65U.Q#UKH!S>WQ\Q974
M[$/6N@.->]VGKSV*7`F\2NHYRJDR!X$S0/>2Q1ZNV)N"X5JI5($2*T"(FB6_
MA;U(HZ:66$]2H,`(!@4Y@LX)$KSFVOA_=]O\M<(O^7_EUT*]UCWY&PY5GK3D
MI.4L1M]?AV^\XQ_9<XI=RJ16KR?MF=XVY;3YHXS5*>WR[:-XQX:_O:9.,8Y*
M2Z=\-$FVOO*N3:@[6=:(&FLRSH5%;$@FZ=LDL,FK"V26,OS;44/.1NC,[I2U
MB)44+#KQ@"$4;C`RQ8"84/`@#Q@0<XQ5S>-HW+8-UR-DWBF=&Z8ETJK:Y+24
M)P;C)/\`*NC71K1IM-%AMKW3`WO;:-WVNV-VW9-4;*YQ>JE"2U3_`#>J?5/5
M/1HVSF]OCYBRNIV(>M=:T]XYO;X^8LKJ=B'K70#F]OCYBRNIV(>M=`.;V^/F
M+*ZG8AZUT`YO;X^8LKJ=B'K70#F]OCYBRNIV(>M=`.;V^/F+*ZG8AZUT`YO;
MX^8LKJ=B'K70$BP9AF["0XES:P`SX]2<G&W*`Q)JB?X8266,)Y.2FI4I`N])
M&((N,/BY!Q>#'TZ`I?\`S7OZ>O\`$7H"TU)K`MVWJHG`:=8K`@IB!+1I6Y*:
MN<%(4L):SQ)T*(C`CEBP[!?%**!C(C!YP''ESH#GO&_%@CLAVY2[<MW>)\AA
MD#L-ZB<Q3G6IM]\]%H\REA--=I&K/LU*2QV"H5'$M1,'4!!)#I`I*1%$F%F!
M59`E!Z\1J*M<B?F)+2MHNA+G(GV`T,\E.-?HD.X"S8C:T-I"8PA@*<)6G6P(
MZ/V5/$*?*V1EMZ12@)6+"A"+3<4P"X5&VVWWC63#8R"//L0/<%DE8'^'2;+:
M.01"90>4/,(FT5=#F9<Y-"U0P2R/+$N%*10<E5%EA.)&(LP.=`;8KL"!(%2A
M"OF\/1+4AHR%2-7)F5,J3'EYX#"5"<Y<`XDT&?)D(L8%C/TXT!Y^<NN.D&#^
M]K!ZPT`YRZXZ08/[VL'K#0#G+KCI!@_O:P>L-`.<NN.D&#^]K!ZPT`YRZXZ0
M8/[VL'K#0#G+KCI!@_O:P>L-`.<NN.D&#^]K!ZPT!Q4\02]%6[^[(UX95%V(
MSQN+O:5!,MY=QHGYM)0PRJ"CD:H-<M#D8K+1+)'+`*"/2"`#%P^?3D&?Y(UN
M"[9^'-CVKQ9PZWY@N:U1LR4Y4[%B3Z?B<MIK\4T^OPJ=)=LEZ=LYKWE4Y5L\
MH;QN/D3E%?A;BEDH8[2LW?)AU5&.G%_A]?3XEFJ[HOU<H0:<7;V]<JS%0=/5
M]#ZMKF25Y&H/`V%!&XRR(I5'PDHFQN)P47QQ>G\=0K4CXQR@\?":>>8,P>1#
M$+.:Q[_ONZ\GWK*Y#OETK]VS+I6VV2]92D]7]B7I&*Z1BE%)))%@-FV?;N/[
M5C[)M-:IVW%JC77!>R,5[?I;?64GUE)MO5MF\\Y=<=(,'][6#UAK4&S'.77'
M2#!_>U@]8:`YB^)[4C1=571:\:'L&%-FZW:D^9MBE'A!)X[^(OQ35DI=*JZ4
M"PY%B6H90VH>$I./.2S51("L\!9YO#/W@#R%MG%N09'$>7Z3\=\BJ_!YT)/W
M:W/6-.2OV952E[TEUC"3EZPCI"_FCA.?R'9:>3<9UAS?8['DXDHK64U'25E'
ML[E-13C'724XJ+TC.6MJ]I&]2H]U6WVN[M;9/&(PLE#5YB4Q1U?VU`OB<U:N
M*CE,=.)7JRE`BD+D$0DQN<?YZ,PDWZ!XUP7E+Q]N7C#FV9Q'<6YQIEW46^R_
M'GUINCIT]Z/26G2,U*/ZIV7CSFN#Y`XGB\EP=(RMCVW5^VJ^'2VMZ]>DNL6^
MLH.,O:6/YRZXZ08/[VL'K#4?';#G+KCI!@_O:P>L-`.<NN.D&#^]K!ZPT`YR
MZXZ08/[VL'K#0#G+KCI!@_O:P>L-`.<NN.D&#^]K!ZPT`YRZXZ08/[VL'K#0
M#G+KCI!@_O:P>L-`:Y,;WIR!Q&43B365"T<<AT?=Y._*RI,RJC4[2R(3G!<8
M2F(7#/4G^8(S@LH&,C-,R$`<9$+&,[/9=GW'D.[XNQ;15*[=,R^%-4%ZRG.2
MC%?9J]6_1)-OHF:_=MTP=DVO(WG<[%5MV+3*VR;](P@M6_[B7JWHEU9R`\-7
M+=?EKW#XG-\R"+L<PNH]7`]N$+?I*Q%+:PV^1U<:@1F%I%"H`T#K+%*/_-&'
M`!C"6>=C]%:+&K+^>]YV[@^P;;\OW%;8SP=I2OW2V'ID[E9%2DI:/K&E2Z1?
MHW"#ZU(@/PUM.?RS>L_S3R.MPS-R;IV^N7K1@P;BFNG1V-::KH])S72YG:+G
M+KCI!@_O:P>L-55+&#G+KCI!@_O:P>L-`.<NN.D&#^]K!ZPT`YRZXZ08/[VL
M'K#0#G+KCI!@_O:P>L-`.<NN.D&#^]K!ZPT`YRZXZ08/[VL'K#0#G+KCI!@_
MO:P>L-`.<NN.D&#^]K!ZPT!B)!+*=E;"]1>2RRNGR.R-J<&-^97*31U2WNS.
MZI34+DW+DYB_(#TJQ(>,LP.?)D(LXUZL+-R]MS*MPP+)TYU%D;*YQ>DH3@U*
M,HOV.+2:?TGGR\3&S\6S!S81MQ+JY0G"2UC*$DXRBU[4TVF<4=F]EH/#SW5/
M?A^3>>-;[MGM]8]6+LML%1)&QU2Q8]<L-526E9`Z%K#`H3"%@Q^B9.R`(U?%
M&''&<<!!;3R3AX?G3QS#S3L%<(\YVBN&/OV/!:.<8QTJSXQ7ZKBO??L@FF]*
M&W6S@F5D^(.=3\5;S.;XCN4Y7;/?-ZJ,I/W\24G^MW/HO;9I+UO27<7G+KCI
M!@_O8P>L-5!+-CG+KCI!@_O:P>L-`.<NN.D&#^]K!ZPT`YRZXZ08/[VL'K#0
M#G+KCI!@_O:P>L-`.<NN.D&#^]K!ZPT`YRZXZ08/[VL'K#0#G+KCI!@_O:P>
ML-`9UGD4>D0#S(^_,KZ6E&`M48S.B%T`F&8'(BP*!H3SPDC,"'.0X%P9SC'D
MT!0[^:]_3U_B+T!:JC4Q2W;_`$ZC/R>$E73E?I3A)52I"I"4HA;429E.M1')
MUB,_`!YXAI)@#2Q<`@BP+&,Z`I_&O#-K.-1ZQFDJ]=T:U_MF3+W&Q+`56DWB
MF,TA"QN?V0FJ):(<4-CDGB*1DDZXH+@N;CI1Z2I,6!=0*Q8.P!L`_#;V_EJG
MXUJ?+<8$(PY4U@QL\]P6S;>9$IF\/LMVF%')5K.N-CLD?K!@#.ZJQN9CPE&:
MC$0`@M&I5ICP+:4]5$8I&NH]6D0/?%S0PY=E9SS)W4;Y*)(_R1[<9/*Y7)W@
M91'XE(I3)WE6X+30%DE94*1^:**+P`L('O7U55SHM5.3G6T`<7%<>8J7."^&
MQQ8M6*3<\8U0K5J&TP]0>:+RB&,0A"S].=`>3F;J#HIK7W$BWJK0#F;J#HIK
M7W$BWJK0#F;J#HIK7W$BWJK0#F;J#HIK7W$BWJK0#F;J#HIK7W$BWJK0#F;J
M#HIK7W$BWJK0'/SQ$KHJ?:14;:BKVEZVF6Y:Z7DNN-N=<HZ]BJ]Q?9T[#(1E
MR!0W8:^,<Q14:THX[C<!9RD9"?.0X.R,,T>$O%T/)')++M[G^%X'M57XG<LF
M3[8UT0UE\-2]EEO:TM.L8J<UKVZ.*O+/D.7!-BA5M,/Q',-QL^!@4)=TI72T
M7Q''VPK;3ZZ*4W"&J[M5M6PCP^(!M9HQ*PV)'8E8UW6`Y'6#>$W?&!E>\.D^
M>^.J6M3*-6@,*2QV.94"3)@E!+`<9YU1Q0B/R'&'S5Y0EY,Y1&S;:UB\,VVO
M\-MN+%=L:<:&D5+M]%9;VJ4_H2A7JU!,R^*/'L>`\?E'.G\?E.?/X^=>WW2L
MOEJW'N]7"MR:C^U)SGHG-HNSS-U!T4UK[B1;U5J'24!S-U!T4UK[B1;U5H!S
M-U!T4UK[B1;U5H#YQ3E0AS@0:JK8(@YQD(L06+XSC.,\.,XSAJX<9QG1I-:/
MT">G5>IPZF<!@GAQ^(2AE+_"(>IV6;]GTAF=AO,787!FH_<B7YT3>H3F+41A
M;#%YF)48+(`Y+3A`H.%@.`(`XS<#&T^8#PN\*7[SRMPS'UK?K9F[5TUA[7.R
MC1:+J]8Q]MS*PWZ^%O*BRH_N_'/*;M)KTKQ=P]5+3HHQM;;?3[LIMZ1H2.XF
M::J''DYJ:U]Q(MZJU3\L\.9NH.BFM?<2+>JM`.9NH.BFM?<2+>JM`.9NH.BF
MM?<2+>JM`.9NH.BFM?<2+>JM`.9NH.BFM?<2+>JM`.9NH.BFM?<2+>JM`.9N
MH.BFM?<2+>JM`<3M^D2B.[7='4GAI4Q#XA'V0@QJNK>/.HG%&-N<(C6#(K2K
MH_`BW9O;23FUZEJ@PDS(<#P/`U*'/E+R<'5M/"N%B>*^";A\P&_5PEN:[\+8
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M*M=P<.70.)I7!2]-AAR%NGR-)AI`$QIEY:(9@QDXR0!8`W!?`2(C(^@\Z^,<
M+@F_4;YQ67XCQSOE7XK;KH]8J$TI2QV_9.GN22?O.#CK[RFEI?#_`#_*Y?L]
MVS\BBZ><[39^'S:I=).46XQO2_9M[7JU[O>I=ON.#?2'F;J#HIK7W$BWJK4%
MDOCF;J#HIK7W$BWJK0#F;J#HIK7W$BWJK0#F;J#HIK7W$BWJK0#F;J#HIK7W
M$BWJK0#F;J#HIK7W$BWJK0#F;J#HIK7W$BWJK0&SQ^(Q2)%JB8K%X[&"EQA9
MJTJ/,C8REK#20B`28J`VI4P5!A0!9P'(\9R'&<XQ].@*+?S7OZ>O\1>@+.U`
M-27MNJT:(]6E6`HZ%"2*4"`MU7)E08&W93GHFLW`BG)82;C`BDXL9"</&`9\
MF=`?G,KK<)815!S:+3O<KO--=R-P4OC%<W.C+O1FCDTG1L=?RU#M.5LEH\=N
MTS#J15MQ3O(H*68^1Y:]KD3.A\Z#*ML3@6(E%E;B&:U+]1J+8O.P(N[R"(!M
M2:0&+[EH(X[;J$0V=2C/)'V(01Z:'&N5[U8]6*'QW;GB!H#GMN2E."LHU0'&
M#$H'7+96]3:0;;(`ZSQQFSTO4+9V5&9!93:L:+$DE7([#E2*GY).$#D@:G0N
M4/\`5B=H5JS%B9.M/,.R:I+`H&8'`$@/,HO1*[.*9CIZ$N[,0L.*;'5;<REG
M6."(`\X(5J6D-7.@6XXX'E$3A2?Q,^3CB^G0&-Y8;B.@VO\`KX5]D&@'+#<1
MT&U_U\*^R#0#EAN(Z#:_Z^%?9!H!RPW$=!M?]?"OL@T`Y8;B.@VO^OA7V0:`
MT"U=P%GTI7$SMBS*KK:,P2`L*Z1R5Z57PK$%,@0E\;!*8G%0A$K<G!0("9(G
M#GCJ%1I90?TAXUNN.\>W?E>^8O'-AIE?O&9=&JJ"]LI/U;_5C%:RG)](P4I/
MHC5;YO>V<;VC(WW>;53MF+4[+)/KHE[$OUI2>D81764FHKJSEKLJA.XO=)>2
M_P`42W*<87K,L9CXYM%KB8V8?%PT[4_GEB?$F(:N0$C*5/\`+DYPQDN&!DB.
M+5*5`2@EJ$V065\S\BVGQMQ:GY?."VQG71)6[WEPZ/+SM$W1JNKJH:6L=>CC
M76_>A9W0)XKV3<N=\AM\T\OK<9W)U[3C2ZK&Q>J5VGIWV)OMDEU[K+%[LZ^W
ML3RPW$=!M?\`7PK[(-50+(#EAN(Z#:_Z^%?9!H!RPW$=!M?]?"OL@T`Y8;B.
M@VO^OA7V0:`<L-Q'0;7_`%\*^R#0%==U],6=N\H2?T)8-&5\0TS-KR%I?2[Q
M4'KHA*T&?2HS+FS`J>R(*QB=0%F9"'.,G$><)SGBF"QGN/''/-V\:\RPN8;/
MUOQ;%WUZZ1NIETMIE]5D-4M?NR[9>L4<ASOAVV\]XME\8W/I5D5^Y/35U6QZ
MUVKZX2T;7ZT>Z+Z296/PY]VFX^71*7[5;.KN*O\`N5VA*TE;6>;);5/BCO+&
M))YY)#Y^W(<0"1B>6MS:$Y)9SC@_'I)OFU`@!PI!PR?\P?!-JV7><3R#PQ=_
MCODU3RL:45I&BZ76_%DETC*$VW&/L7=!+]VR/_"G,=PW7:LGA7*7V\VV"S\/
M?%O5VU1Z4WIO[RE%)2E^M[MGI8CI-RPW$=!M?]?"OL@U7@F\<L-Q'0;7_7PK
M[(-`.6&XCH-K_KX5]D&@'+#<1T&U_P!?"OL@T`Y8;B.@VO\`KX5]D&@'+#<1
MT&U_U\*^R#0%=]U6\.Q]I5%S>\K)IZ!(V6+HR4S6B3W:J<7*02EV."@CL?:6
MO%6-PW):O<#0B$4$\K.$Y9IF1!P#.<=YXSX%N?DSFV#P_:TU+)MUML]E-$/>
MNNE[-(03T3^]-QC^L<;S_F6!P+B>7R;/T:HKTKA[;;I=*JU_C2^\_P!6"E+T
MB5B\-JB-RU)UY,;NLFIXE,MPV[&0`N"UI9(K8/C;\A2/0#'")P,3)BM7W+"F
MC#>X"R8C"K."2H.$7P\4HL`)$^8/GVV\FY+1P_B6D/'W&Z?P6%&+]VQPTC=D
M/]IVSCHIOK*$5/UF]>'\)<,S]AV"WE')=9\UWVS\5ERDO>@IZRJH]K2A&3E*
M.ND92</2$4NDO+#<1T&U_P!?"OL@U7\FH<L-Q'0;7_7PK[(-`.6&XCH-K_KX
M5]D&@'+#<1T&U_U\*^R#0#EAN(Z#:_Z^%?9!H!RPW$=!M?\`7PK[(-`.6&XC
MH-K_`*^%?9!H!RPW$=!M?]?"OL@T`Y8;B.@VO^OA7V0:`<L-Q'0;7_7PK[(-
M`.6&XCH-K_KX5]D&@'+#<1T&U_U\*^R#0''_`'T0?<=MYN:.^*)4U.Q]C>ZP
M92X[NCA$2LU1*A7/2@C4B92N6M&:^CI8'F'I`8,&OR::-.0F3'Y+$!&+AM9X
M0Y'M//>.9/R^<YM4-OSY.W:,F?5X>X+5QK3]E=[;2BGHY2G#UM35<O+>Q;EP
MW?<?S5Q"MRS<-*O<Z(]%DX3T4IOV=]22UEIJE&NQO2EI]/JGW!V==];0NVZS
MJJMY)!)^P(9'&W=/>ZH/GT2TOA&F5D\T(A)'-M4A&F5IQ9R-.J),+%Y0YU6[
MDG'=WXEOV7QK?J71N^%=*JV#]DHOHXO]:$UI.$ETE"2DNC)WV'?-LY+L^-OV
MS6*W;,JJ-E<O1Z/U4E^K*+UC.+ZQDFGU1(7+#<1T&U_U\*^R#6D-L.6&XCH-
MK_KX5]D&@'+#<1T&U_U\*^R#0#EAN(Z#:_Z^%?9!H!RPW$=!M?\`7PK[(-`.
M6&XCH-K_`*^%?9!H"082[3]U(<!SV%L,,/).("V$L4W-FP%Y`RQY4'*3C8G%
M/P\9!F`A"#`3_.8%G/"'@X,@4L_FO?T]?XB]`6KHM2G1T#3:M6H(2)$E.U\I
M5*E)I9"9,F(AC2:>H4'FB`42024#(AC%G`0AQG.<\&@(#0^([LC7P@VQ$&X*
M*&Q(J9N$%&N`TRXM<)^;6@Z2.2PJ/CC@)$HB:6-D&.IDA`D$PX:P"6Y6^C8R
M;H#>5V]?:NWN=EM"F[H?EPJ%H1OL[)2C=%P4#>O<6=E3Y9%"%N4)IHNP_2)M
M;3$C(-Q5DN;DD1F%`4JB"C`)QK^P87:T+CEBUW(VZ6PJ7-I3M'I"U&&#1N*(
MP0RA?H'%DJDJM*I*&0H3GEE*$J@L9)P`&@&#`&XZ`:`:`:`:`?3H#@=<"Y9X
ML6\'.VF++%!FQ/:/*4+[N,E+8>;^%WC<3:<8)HJIL<$PP$KV!B4$C`J$6+(>
M`*D_AXV4`\W&XS35\N7C+^W>X1BO+O),>5>VU22[\#"DEWY<HOK&RQ-..JUZ
MUPTT^-%5<WZVWSES_P#LA@RE_P`--BN4\ZR+?;F946^W'C)='"+33T;Z*R?K
M\"3[SH4*)K0HFQL1I6YM;4B9`W-Z%.4E1($*,D"=(C1I2`@(3)4J<L("RP!P
M$``XQC&,8U3VZZW(NGD9$I3OLDY2E)MRE*3U<I-]6VWJV^K?5EGZJJJ*HT41
MC"F$5&,8I)1BEHDDNB271)=$CU:QF0:`:`:`:`:`XI^)77\NVTVO67BDT<SJ
M7!_I\"6#[I8<UAP$=F;>G904C6.:DD(,@4.L*$8'(3QX%DDO"<\6<%H>#5J_
M!&];;SSCF?\`+[RVV,,/<];]ING_`+KN,$Y1@G[(7]?=7J^^"]ZXKGYAVK/X
M?OF'YIXU6Y96!I3N-4?]XPI-1<G_`(5?1=S]%\.;?;3H=>:ZL&(6Q`X?9D!>
M4T@A<[CK5*8R\I!A&2N:'A(6L2&9P$0LDG@`9Q#2A<`R30B`+&!!SC%:=\V7
M<^.;QE;#O-4J=UP[YU6P?K&<&XM?6NFJ:Z---=&B>]HW;`WW:\?>=KL5NW95
M4;*YKVQFM5]C]C7JFFGU1N>M4;$:`:`:`:`X22G@\3'Q&$<#*SAVV=>'H^$O
MLV&'(3F"UMSAHAEMD?$()8TSHV0<288309R,`<)50,_H+2\ZM]M__P"!O"$M
MWE^[\G<UI=='LLQ-K765GTPE?JFGT?OUM=:I%8\W_P#,?EN.V1_>>/\`BMG?
M=[89.X:Z1AZ-2C4TTUKT4+$^ET6=V\YX?+JH)9P:`:`:`:`:`:`:`:`:`:`:
M`:`\JY"B<T2QM<DB9P;G%*H0N"!:04J1KD2LD:=6C5IC@C)4)5)!@@&`'C(1
M@%G&<9QG62FZW'NCD42E"^$E*,HMJ491>JDFNJ::U375,QVU5WU2INC&=,XN
M,HM)J46M&FGT::Z-/HT<'Z,7+/"OWEG;3Y4K4$[*=V\D<95M=E#F<;EKJ2VE
MYQ67^GEJX\0RD;6\*E!1:/CBX,B,2&_XS5@@W`Y=35\PWBY>1MNC%^5>-T1J
MW6J"7?F8<4_AYD8KK*<$FYZ+T5L?2-2=8^-6V>$O(3X/G2:\=[[=*S;K)-]N
M-DR:4L9R?11DVHQUTUUJEU<K6N]6J=EH!H!H!H!H!H!H#GK_`#7OZ>O\1>@+
M1TNC$X;=JE;P"3`&NI6"HPC6HBW)&`2J#MA`1*VXTPHI>F#DSA,($((30<(<
MYQC/#H#DW!O#YWJU[74P@L?LS;(3'9U:DA<7RKB$%[(*Z9JB6I'@IRB55.RR
M7R>;4XEN)Q7I!REB9%!32A:VPI`VF!,/5+S`)/<?#PN,U\(7,]ET^S,M.S:5
MV]MBCZ:"2LM.WV#8E_5MN+E$6MLY-)DX7&LV%_KG#"S%LA:)6%K6A5'8RH1%
M%&@=!MM53OM*U`Q0>5O[3)Y@:_3Z<S1YC[2H8HTHF=I6!)[+E::,,ZQ:X+6^
M,MK]+#TS>`\\U1E(26(T631#T!['JCVE[=W)X-L2[FXUS6'+3$+);\T:&A((
M\>1Y3MK6C<2TC>B+X>`!18<`!CR8QH#&=WMFZ4-P/7A/?6F@'=[9NE#<#UX3
MWUIH!W>V;I0W`]>$]]::`=WMFZ4-P/7A/?6F@.5GB)S&50UWK?9IM4LJ[9!N
MZW)J<(&S"RY9RZM52U?@PP$KLR6IAN!R=,ERW)U127SH<\4LI0H#^F24$RQ_
M@?Q]LN4LORSY#3AXXX_I9*+T_IN6M'3B03^_[S@[(^DFX5OW9R<8*\Q<UW6A
MXWC;A+4^<[U[B:;_`*+C/56Y$VON-Q4U"7K%1G8M90BI7@VX>'[5FV>H8I4T
M"F]QM:-F2@5R)>P6A+(T1*YDM(3\I9<K:FMP+1I5;XM)X^"P<(""0EE!_1!C
M.8J\D\_WKR;S'+Y?ODM+KY:5UI^Y11'5545KV1A'U>B<IN4WUDR1.!\+VKQ_
MQ?&XSM*UKICK98UI*ZZ6GQ+9_7)KHO2,%&"Z11.?=[9NE#<#UX3WUIKA3L1W
M>V;I0W`]>$]]::`=WMFZ4-P/7A/?6F@'=[9NE#<#UX3WUIH!W>V;I0W`]>$]
M]::`=WMFZ4-P/7A/?6F@'=[9NE#<#UX3WUIH#'NVV6(O[4YL3[/KT>6-[;ES
M0\L[G=$Z5-SJTN:4U$XMJ],8Z9`H1KD9XRC`9\@@"SC6?%RLG!RJL["LG5F4
MV1LKG%Z2A.$E*,HOV.,DFG]*,.3C8^9CV8>7"-F+;"4)PDM8RA).,HR7M33:
M?U,XY;2X*;L]W?S7PX[.L6WV:K)J0YVKL>D;+:<KB[.LBJM0N<I95!Y:!8D2
M*9(R*LGFA%G_`#3C4YP_H5$!S;#RWAXWF+QWA^>=CA%<CPXPPM^I@O2V*4:<
MSM7I"Q=L6_V90C_JILK?XTRLCQ?S?*\.[Q.3V/*E/*V>V;UUA+65F+W/UE%J
M32]>Z$Y?ZV".SO=[9NE#<#UX3WUIJI!98=WMFZ4-P/7A/?6F@'=[9NE#<#UX
M3WUIH!W>V;I0W`]>$]]::`YW^)--#MK5)-K35-AW[(=RE\R9%46WJ)!N>=+U
M2R92`TA(IDHFXQR&4H;XHE5A-%YP.2LJSDQ8^`(\YQ.'@7QSA\\Y@\[D357!
M=EI>;N-LND%35K)4M_3=*.C2ZNN-C75$1^9.<Y/#N,+#V1.SE^[6+$PJX]9?
M$LTC*U+_`*I27:WT^)*M-I/4G?:%X>L1VR4/#*T)L"V")7E+B1V>\Q&T)?&V
MR568^$)SY8_A0-[@43D!BLL*<@><8&),G+R/]/(LYYOR[Y%S/*'.\SE-R=>W
MMJK%I]%1BU:JFM171/36<].G?*6G30WOC+@V-X]X=B\>K:GG)?$R;?;;D32=
MDVWJVDTH0U>O9&.O74LSW>V;I0W`]>$]]::C,[\=WMFZ4-P/7A/?6F@'=[9N
ME#<#UX3WUIH!W>V;I0W`]>$]]::`=WMFZ4-P/7A/?6F@'=[9NE#<#UX3WUIH
M!W>V;I0W`]>$]]::`=WMFZ4-P/7A/?6F@'=[9NE#<#UX3WUIH!W>V;I0W`]>
M$]]::`=WMFZ4-P/7A/?6F@'=[9NE#<#UX3WUIH!W>V;I0W`]>$]]::`=WMFZ
M4-P/7A/?6F@*\[H_#TKG<]34HJZ3SVW5#@I)R\01]DUG2Z3)878#:G49C$L(
M;'!P-)/$VJCLA.!Y,FIC3`8R$60B#(?BWR+NOB[F>+RO;-9U5MUY%+?N9&-/
M16TS3Z/5+6+:]V<8R]FCX?R)P;;O(7%<CCF?I"V:[Z+=/>HOCK\.R+77HVXS
M2?O0E*/MU53/#AG+_=3/8>W3<A8=ZQG>#MA=Q1&V&0BZ9LA33*/%G8(C%H1U
M*0Y$D'L[TD&46>,@&"?."*/QP`5E8U('GKQSM/'=PQ>?<'?Q?&G(HO(Q)+TQ
M[9>];B2_8=<M7"+ZJ*E7ZU2.+\-\YW+?,+(X9RY?#YYLDO@Y$7ZW5KI7D1?Z
MRDM%.27O-QLZ*V)TY[O;-TH;@>O">^M-5\)L'=[9NE#<#UX3WUIH!W>V;I0W
M`]>$]]::`=WMFZ4-P/7A/?6F@'=[9NE#<#UX3WUIH"1(/`D<$(<2$DEGDDPY
M')SQF3J9ODR/293EC+P6VG/:E28@)-P/A,`7G&!BQC.?+C0%+OYKW]/7^(O0
M%GZ<6G-VW&J7%.!$8>@I&#K2"W)>%K;AG)8*VGE`7N8RE`&Y$(9>,&GY`/!)
M?"/(<\'!H#EM5'B`;J':A+>E<ZB%(J[LJ:]*DB\UAH6R=0-HA%4VI8B*'EOK
M8<DD%JQVY!'>:7%1IZ99(E;'H)0E"L#<-,)(I`W>=[V]R4/MVPX`[1F"PYOG
M%L(*9VF.$A@R:11A^.*N*I*>F%F3B;0O<8YO;D1"U]BC6'1A9%H8>K$8G2%.
MGG@*,X`OUM<M237-2S!-9HFC9,N(DEDP63*89A<&&/3[5EERZLG.31$MS6.+
M@EC<G5Q(2](G/4JC4A2C!`CS\EY.&!L;O>$,9'1P9UC);9ZML5G(E!S30]UO
MC88<0+B#&@>6:`KVET2YS_@/3'&DF8\H19QH#'=X2!^S]U_EROWLWT`[PD#]
MG[K_`"Y7[V;Z`=X2!^S]U_EROWLWT!`VY;Q`Z4VS4[*[7ES;9Y8FI(8BB;"^
M4[;,-#-ILK3GBCL.;WN60II9DRUW5$YXPC#L>:3@,-XHN)Q<][XT\?;SY/YC
MB\1V5:672[K;6O<HHAH[;IOT2A'T3:[YN,$]9'&\^YMM?C_B^1R7=7K"I=M=
M:?O7723^'5#ZY-:R>C[(*4WTB4E\..'K(,KL7>'NNC]ON^\/<PJRZR0`-OMZ
M.B.I:XP:`<5JR,*4E>JT"9*0@3IC%7HQIA?FRDQ&!"R0(9DG^=_(>RY\L3Q7
MX]?P_&O'M:ZW'_?,I:J[+FU]_63FJY>C[IV+I-)1]X=X3NN&LGR+S5=_.]Z]
M^2?^[8[T=>/!/[C[5'OCZQ4:ZWJX-RZI]X2!^S]U_EROWLWU7,G,=X2!^S]U
M_EROWLWT`[PD#]G[K_+E?O9OH!WA('[/W7^7*_>S?0#O"03V?NO\N5^]F^@'
M>$@?L_=?Y<K][-]`.\)`_9^Z_P`N5^]F^@'>$@?L_=?Y<K][-]`.\)`_9^Z_
MRY7[V;Z`YX^)'!V#=/2C>ZU2U75']S-$2!-;6W67$;>[Z0+TDV8!$K38M^(F
M5P`HAOF!"(!&<&B"0%86F-,SQ"Q8S-O@GR3B^/\`EDL3D,?C<$WFIX>Y4R6L
M'1;K%7-?32Y.6JZ_#=B75ZD2^8>!Y'-.-QRME;KYAM=GXK!LB])*V&DG4G]%
MJBDD^GQ(UR?2.A-.S?Q#J]W-41%)\XL-BH+$;BN2EP1*,4_;$P3PJSF,LM/)
M&50OBL,>&],%4=C"Q,0,[)Y:50`)N,&!'C&C\P^-\KQ=SG)XY*3MVB:5^%?Z
MQOQ+=75-2723BO<GIT[XMKHT;?Q=SS'\A\1HWR*5>YP;IRJ>J=616DK(N+TD
MHRU4X:K7LDD^J9:7O"0/V?NO\N5^]F^HN)#'>$@?L_=?Y<K][-]`>99N1K=M
M1JW%R;+A;FYO2J5[@X+MO-\I4*!`C)&I6+5JDVN`E)DB1.4(PPP6<!``.<YS
MP8UDIIMR+H8^/&4[[)*,8Q6LI2D](QBEU;;:27M9CMMJHJE??*,*81<I2;T4
M8Q6K;;Z))+5LXP;5[&9=YN]J?>(-8T?LUQI>I`.M.[)F9JINU)FSJD2<Y4BF
MMNB41>&OS2E>7(\1I98!FA5$#5Y+&$(D1>=6U\J7U>&?%^#X/VR27+=SC7G[
MY9!]8N24J,)R7LBDG*/II!2TTN96KQU59Y5\@Y?EO<(M\;V^4\/:8271]NL;
M<K1^UZRT?TS<7UIBSM1WA('[/W7^7*_>S?51BS([PD#]G[K_`"Y7[V;Z`=X2
M!^S]U_EROWLWT`[PD#]G[K_+E?O9OH!WA('[/W7^7*_>S?0#O"0/V?NO\N5^
M]F^@'>$@?L_=?Y<K][-]`.\)`_9^Z_RY7[V;Z`=X2!^S]U_EROWLWT`[PD#]
MG[K_`"Y7[V;Z`=X2!^S]U_EROWLWT`[PD#]G[K_+E?O9OH!WA('[/W7^7*_>
MS?0#O"0/V?NO\N5^]F^@'>$@?L_=?Y<K][-]`.\)`_9^Z_RY7[V;Z`Y#^(@C
M<8W85<^(AM1B-L9W`T$7A#:,36T1=<:9KKH+/''*F&2.SG`FYJ+51EN\Z<4H
M4G!R!)QAA%DU*E#BS_@?F&R[WMV7X(Y_9V\1WR7]#OEI_0=Q_P!39!OI&-LM
M(M=(]^B>D;+&Z^^8N,;IM&;C^8.&0UY+M$?Z54M?Z7A+^<A)1ZR=<=7Z-]FK
M2<JJTNE=-[WZ/O6LHA:U?%6H^1F7M1*\@]EH^XY(F;G`./,N[`I=X[!G-E4.
MC`Y`,2*O1U!I>#BL\40@YP+,$<TXAO7`^49G$N05NO=,*YPE^S./K"R#_6KL
M@U.$O:GUT::4P\4Y/M7,>/XO)-EGWX&56I+]J$O2=<U[)UR3C)?2OHT9)O>$
M@?L_=?Y<K][-]<N=".\)`_9^Z_RY7[V;Z`=X2!^S]U_EROWLWT`[PD#]G[K_
M`"Y7[V;Z`WV&SUCG9*\]D0S%"!M-()4!F%?3J`'&#4`&86)"GG$>CY[F4$)>
M>.-,$T!>>#`LXSG&,@4I_FO?T]?XB]`6NH<LLZA:7)-+`:4;4-=E&E&`"86:
M69#F@`RS"Q8R$8!ASG&<9QG&<9X,Z`UNM]K.V>J8A*8#5M'53#(-,IB?-I?%
M(S$&)%'WV9%O"9XP[NK<G3>B'+FIW;R!I0"#@"#*<L!`2@E@"$#[U^UO;4YN
M=IO3E0E/KG>[6T+3<+DKKZ+'K;);`F$J,))LH,;1&/Q`U"0HX7I.1Y&<06:+
M.1E@$$"5XC$(K`(NPPF#1QCB$.BS4C9(U%XTV(V5@86=`2$A"V-#4WDD(D*%
M,2'`0%E@"'&-`;'PY^O/VZ`<.?KS]N=`.'/UY^W.@-8?YQ#8H`XR42^,QP"=
M.)6>)]?VMI\RE`6::)09A<J(R$G!1(Q<;@X.`.<_V9U^8SA.^.-&47D2:2CJ
MNYMO1:+UZOHCU+`SI8GXZ-%SPN_L^(H3<'/]A22T<O\`!3[G]!PWI5N</%=W
M?XW32]$I'L;VH2=<P;9(BZDF?AMTVRVG%8>+==&X\(2EK*S*B"QI`F!R'&0)
MB.#C@7@%</DF=A?+[XO7`]CNJL\J<DQXV;GD4SC/\'ARU[,.NR#:4YIM3<7[
M;)>CI:JWL^W;AYB\BOEF_8]]'`=AN<,''OKG6\G)6C>3958HOMCI&45*/I\.
M'1JZ+[X?I_\`F_\`'5/BS1BW-\9V4O)SR\M;25@.19-<W)(@+P''ER+(U1Y0
M<!Q]?#KXY1C]YI&"[*QL9=V19"N/TRDH_P`K1#TBW1;;HF$8I)?].,X@<;`R
M5EDQ("G&0_X@^BA=AJ,BQP?1@/#K#+*QH?>L@ORHYW,YQPS;TWF[MMU>G[61
M4G^;OU(*?/$QV,,'G`J=Q<0<32\"X"(VBDTH&9D/TA+$P,;@3D7_`.?&-87N
M&&OUT_L3?\B./S?.GB7`;C?OF&YKV0<[&_L[(R7Z2*5?BZ;3AF>9BJ*\K"-%
MQL%`A5,2Y;YX6/HP6)T*:,9XW]F?HUB>Z8WZJLE]D7_=T-'+YBO',Y=FW2W#
M-D_3X&+9+7[.[M*N[H?%]&T5?)&*O:(OZM)C.V!Z9:^GUH1M#"T+:O$40E7O
MS8B-<%J]P7L*9=@TK!6,X+4B*R/.`_3XLK>8J#JKA.-THO371?0F]/7IJORM
M'+\W\[9N-Q;(R=KV7>L%9&N/3F95'P*873A*2[7)ONL4(SG",>ON]SZ(W?;S
MXS%!O%?Q-!>:>PX7-&9E96>;S$,/6R.!K9`4C"G/=0N\;.<W%OP]#3B4^:4H
MR1!R(00\;`.-K+C[SCR@HW]RL26KTU77V].JUT]J^G3T/;Q+YB.+W;%B3Y3'
M,QLKM^%9D?`E/&LMKC'XCC;7W=?>C*4.WNAWK5:--](*TW=[8;A`5FM[ZK&3
MGGY#@IM)E;:WO8Q#QC(0_@+N<WO(19X?HR1C.,^3Z=;*O+Q;OYNR+_+U_-ZD
MP;-Y`X1R%+^I]UPKIOTBK8QG_F3<9_Z)8K`LB#@01<8(L8$$01<8(@BQPX$$
M6,YQG&<9\F=>@[!--:KT'#GZ\_;G0#AS]>?MSH#A%=0#?#*WZL^YMI`:V[/-
M[3\V0+<8A3@.`Q5=>1F3Q1>TS"B\"3H4,B&8<8L,X,8SQW#.>$64X<6_XK*/
MGOP];P+):GY-XI3+(VV3T^)EX"T^+B)OK*5?NJ"^JE+IWLK%R*,O#7D^OF5"
M<.`<BLC3GQ6O9C9?5PR-%JHJ;<I2?3UOUU?PT=VBS0F@`:4:$THT`3"C2QX&
M686,.!`,+&'.0C`,.<9QG&>#.,ZJ#*,HR<9)J2>C3]4RSB:DE*+3BUJFO:?W
MPY^O/VYU\/IQM\4ZV9M9+E57AMT(ZFI;AW9J\!LE^0B&:.L=NS<>8.;R-SR0
M$1B3$A2HE"<&,Y#DY(G4E8_3.*X;0_+UQS:MBQ]Q\Z<QK4N,\<C_`$6N73\5
MN4DO@5PUZ/X;E&3]>V<JY>D)%>_-N^[CO%^#XAXO/3?]\DOQ$UU_#X*;=LYZ
M)Z*Q1DNNG="%D=4YQ.I-/51#**JV!4]73:!GA5=1ELB\?1`XOG,I&XG`#%JL
M80AP>Y.:H1BE4;G'&.4G#'GRBSJO?)^1[KR[D.9R;>[';NN=?*VR7LUD^D8_
M1&"TC!?JQ22]";./[%M_&=DQ=@VJ'9M^)3&N"]ND5UE)^V4GK*3]LFW[22>'
M/UY^W.M$;@<.?KS]N=`.'/UY^W.@'#GZ\_;G0'A3NK<K6.#<D<D2IP:1)0.J
M!.L(.6-@UJ?"M$!P3%F".1"6)18-*P8$.3"\\8/#CRZ^:IMI/JC%"^BRR=-<
MXRNKT[HIIN/<M5W)=5JNJUTU75'O_2_\W_CKZ91^G_?_`-^>#_[=`:XZ3")L
M81C>I5'&<)?#YP3H^M;>$'!]/'RK5DX#P?WZ_+G"/WFE^4\=^X[?C+7)OIK2
M_:G&/\K1%;YNDVU1H(A/VX.EVOB\/&`JLZ'`-QG'TX\R%X$;D7D^C`>'6)Y6
M-'ULA_G(T63SCAF&M<K=MMA]N33K^;OU(=>/$?V-L61A7[F:W-$#.<""T+7*
M0CX<?V!`P-KD(?\`W</#K$]PPE_K(_DZ_P`AS67YH\5X6OXC?,'5?LS<_P#F
M1D1@Z^+7LA0#$4W6+*Y2;C&<@+B]7V$XY.^KS0SX^C*%P_V<(L:Q2W3$C[9/
M[(R_O'/7?,3XGA)PQ]PGD37LJHNG_P!!%.K"\;.N$-VU@&#L,Y5T@UHI83<N
M':+(VF9JG1:06GC?)QK<W$!A88TJ2Y.4!-/2Y4!4"+SP9+QG/ALWRGXT77K^
M'6O=TZ_R^S3J<7O'S&;?3RK;Z-MQ<U[!V2_$QG1V9$Y6I?`=-<VI-+I)=8_$
M4UVZ]&["D>,KM@.2)EHH#N0+3K"PGI#N:U,<G5)S`!,)4)E1$G,3*2#BAX$$
M0!"QD.<9^C.LD=_VZ45.,FXM:IKM::^E/N]"1KO+^+BV2HS./<NIR(2<90GM
M.3&491>CBTTFFGT::33Z-'M%XQ>U@K`,J8CN*2",#Q@EJ*A5A%D/#P<8.0O0
M@##GZPYSC63^N\'_``OS+^^>1^<N-QZ6;7R.,OH>VWIGU#\9?9^5G`%"&\DQ
MN0X%YD^IW,!N,"^CA#^(YQGAX/IQG.,Z?UY@?3+\W_I/Q+SOQ./2>#OT7]#V
MZ_\`O&0QXQ6SK@QQS+E+%G&,B+,J*38&#.<8SQ18QQL<;'#_`&9SC7Z_KG"^
MF7^:8O\`_07`ETE#=4_H>%=K_(>D?B_[*#@"(/?++&`X.2CB#ZCF(PC"9CB&
M$G%90"",(L"R$0>#.,_1Y=?J.\XD9*4934T]4TGJG[-!+Y@O&[3C9/.TTT:>
M'=^5/W?SG*W;)O1HG95NYM)AJJ1R1XV#WT>JL(MF.B4F;'+;Q;JGSOXHB8HV
MZH"')UAT@]'"7D"`!HB21IL9#PI#,FV0Y[Y9X-Y4\:[?F<CNOI\R;.EC.?X>
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MDRPK(>,(K`1X\H<YQKYL>^[;R+!_K':Y2EC?$G6^Z$H24ZY.,XN,DFFI)KT+
MB>1O&O*O%>_4\=Y=7CQSLG;<//IE1D4Y5-V'GT0R<2^JZB=E<X74V1G'26J3
MZI,G#AS]>?MSK<'!#AS]>?MSH!PYS].<YT!ST_FO?T]?XB]`6<J!.<KVVU:D
M3`5&J%5'0I,06B<C&9:8<?`VXHHM(\%8R:TJAC'C!:D/Z1`\X'CRAT!P_P!L
MVS6[&K:KN!JTBC[/JQ"@W/5%8=4,LADT?KBTK!5P^V6A=/'&TB*EM!?5]CL3
M0P-Q)Y;[DEJY<'$"5+V]48G2*5`&XV+M/O-WM6WGXG;M+GQ"JLBP)-N#?B9=
M`S4V]>BI!NIJFQZNIB,H7&P4BEZ5UYM]C3TQ#024I@;T@!&,Y!YR1T/'H#JQ
MLM@DLK;;=`H?,8VX0A:WKYZM8:^=7=$^N=:U\_6++'^L:T7.K8XO#8<JK^O'
M-L:!E)5:I(DRD]'(.-)*`8("2'=IOLUT<#6&?T\@93%9PVI$[U#-G=U2(<B_
M].0X.B*[V1(X*RP>09I2-,`>?+@L/T:`QWX+N1Z2J-ZD)_\`^X+0#\%W(])5
M&]2$_P#_`'!:`_*?XIVW2[)OOEL&5R"`OMI`5U97$83OU<5%/$T3R3^$*S'5
M&G*RYSOB+T^#@`,&%Q$+'&S^@7G/!J(MXX=C9_,L_>\ZAVX^1@58L4TY)Q<9
M?&:T2[>[6,%UU6DGKUZ;7S_\Y/E/BO@;QQX`\)7;KA;SQ;E^5RW.S,6BW1;E
M5D0_J*A2^'.%RQ8QNS+XR[ZISMQX3@_AR1<79#LNW]O6UJ`H*]W4/^UJ`)5\
MU3,%1N,)?B)''BBYD]85+EBXT;`_F`DB[SSB7@TWA`6I#@.>#Z-MQO8]TVS9
M8;;L]=>#@53MC"N<K+&E\26D^[I)JS[Z3ET4M#3<YS>9?,#R>'EWR]Y1Y-O?
M*-\V_`R,NS!V;;]IG5>\2J-N#.J4E&$\"4?P;MCCQA<Z?C0BX3BW.+QX3>[V
M:"%RY\2NPG$HS/\`F`*C<_7!S@0L\?BDK;J)2XQD&?('S?%X?[.#7ONV/EM_
MIN6+6O\`Y>V;_3E)?H/QMWB?Y<8>]RJ?E3?)^U2Y/@8-;^KMIV"Z23?T3UT]
MNI%3WX`<F?N$Q?OPEQZD7Z0SEE&,+GG)F<^46!.=BK#N'/UY'G/]^M7=PKE-
M_P!_?Y07_5X5*_3.=C)&V7BWR);+I/)\,YV]7IZ]VZ\VWRY/_&AATX$7K[5H
ME]1HQW_3FOYYGZ>_:2ED9Q^D6DH9M0&YSP_3YU%:I`,>3_R?3KQV>,MRR5ID
M\CW?K_LU14O]&!*NP^4/E1XE9&SC/RW>)NZ+U3S_`.MMTEK];S<RW7V>JT]?
MIZ9YK_Z=!D1&%&N&\JRW4PD7&+&"*+VK(<\;/E!E-8YPR^$L60_HBQG@SP\/
M]FO$_"VUVONR]YW^U_7E)?\`09,VV?/G5QJOX7"_#/@W9X+T^!Q>I-?Y2N@W
MU6O77^Z2<@\`^$)R\$N6XNPGXK@Q@PIP6V.06;P%Y+SQP-]MI0_I8X.'@X/\
M.,8\FLD?"/$G_/Y.[V_XV6_[D$=$OXH7S!8D>S8MB\<[;!>BQ^/UI+KJM%+(
M?IUT^UOU(7O3_I[W=^2QL-!7RSP)>G4.8Y8LD.+:7&/)!I2+#4$K+A8DQ)`-
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MSE95.;UCVM)/7YLOPAM\J3TI6T6+LZW,@`/(RN=*G5%*S507QL<'!)JC3HEJ
MA;D'TFJ73](7Z6<\.=>^WBGES;%KA;IMNYUI^F31\*;7^-6F]?K<R#]ZQ/X0
M/F6>OD#Q#R7@NZVKKD\<W+XM4)O]?X=ME,=->ND<67T:%6!5%XN.V6496,M)
M[@X17R1!D1J';3:YMV(S7`O@%Z4GB[U,)&,;3C@X?0U"#!O!G@\]Y,Z\_P#:
M7R9LS_\`JO'K[*E^OA9"M7Y*W\27YVCC?_UV_)#RM._Y<?F5W3BV=-^Y@\GP
M)QIB_9&61+\#3IKTU2M^GKJC<V3QK=U--JRF:V%:90J#_P"F`Q[D=O\`+ZEE
M01A#G`?/.<%-.:\F!X.'(S@?I8QY>#.=9:/-FRX\U3O,,S!N_9R<:</TP[OT
MQ-?NW\*[^(=LV+/<_%&[^-?*W'X)N,]JW:FC(G%>C[;UC4]S^CX\^OM?J6&K
M/QVY'(C"TT[150UYR/@.<ZWB#A8:<D`\\(!#9ENX"(O0>*#_`!?HY%GBYS@/
M]F.XVOR/Q7==%B9F-9-^R-L>[_,GV2_059YWX[^;'PQ&<_-_AWGNRX53:GEX
M^#9N.$M/67XG$C;1V_7\9]"SL_W2[<=\5.S2A[`W4[>&:.66R&LK@V3_`&_V
M;7KXS+LY`H:7MH<I1>@6`E\C[L44J2F@4F@P>2'C8$#.<9EC@OD+,X-RG!Y=
ML%RKW'#NC.*EJHV1]+*I^QPM@Y0EU]):KKH0+O'D;P]Y'V3+X?NVY5X\LFMP
ME5DQECW5376$]+4HJ=<TI+WO6.CZ&/\`##W![@9(@G>RJ7VU3Y]L[3?0HVRO
M3U"9'80[:ID&0)H58S#+6"X8NVO*!*@-2I#.(F$8408DR<8(XPS@G;Y@.*['
ME7X?F'@79+@W)8_%E"#B_P`'GO5Y&/8H_<<I*4XII>\K5'W5$\G@GF61D8>3
MXWY!?7=R;8FH0LC-3CDX?I3="6LNY1CVQ;[F^QU.3[G)*_\`8USSNL*7GU_2
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M&=JR,EYWE[F<H5;_`+[/6B-DDECX*T^%"/<^BFHP>JTUKA7)I2E+6\TMW5LL
M&P9RHWI;+&TPK&<C3`A[ZXK0\&>#./06O<BM69%C/]F"^'5699F+#[UD/SHE
M7<?(W`MI3>X;QMU>GL^/6W^:,F_T%<)5XI]/Q4!F>]53DF,+QGA*B.U2\78`
MLX_L"M578V-HL9_L%Y_B9^O7FMW;`I7=.?3['_*]$<C/SWXNE=^&V[/MS\MO
M15XF/??-OZ$HPZO["J<V\=^)1G)@&-[C$C&'/%`-SITZ'$&9^C'`%;NE=5P<
MY^K*?AUS^=S[BVWZ_BLS'@U^U=5%_F[F_P!!)'%L7S9Y$E&/B_Q3Y-Y"I_=G
MC;#G*J2?M^*Z7!+ZV]%[2MJS_J(+6,?"4D<KZF9`D,R((6Q'&[/5ORG/#C`,
MD#9)@](R\\'TXXAG!P_3KE<KS1PJF793E0ML^BN-MK_T*]/TD^;'\D_\2GE]
M/XK:?#.7LV!_MM]W?:]MA%?3.&1E56+[.W4_N4^+9XEUGQZ0**^VS3:*Q8+$
M[JW:9Q/;_8):.,L)3>H-<9$*:2]U4-;2!G0A&H]-$3@*?S?G,AX`Z\%GE2S/
MA*O;MMW:RB47K;'&E57".G6QVV22A&*UDYM>ZEJS?R^0[YO=AK>]<WYKX0X[
MG8G[VO;/ZWLWS<LRVOWJ\+'VS!HR)9N3D34:*L6N3>19-51>LCG96F[[=*\V
M42V43N*E\HN^YI-#XWZ)SJH$3I8\B#DJ.1=._.KP8-K4*&]*I\PG&IP64`O]
M'A#C@UBMYEA5T0IXUG8VX;VY0A72\V,9W2DU'1S;??))ZKN7731:%9?%GRK_
M`#A\G\OY^\_,3QOR)XO\6;^KLC>N04\%R+L3:XXV/991-82HIA@XFL51.S%L
MK6/&:G8IPC)KI$?M5\?*;<8#[.%D?*,QG`@O6Z4\!(>-CRX$5!5QQ>0XSGZ,
M`X-97E>9\CI#;,"A?]9F.?\`\-K^0M/7\J'R`X23Y-\P'EW?-'UCMVQ4[>I+
MVI+*^)IK_C&&#X1?BRS?AS-MP=+MX3A\8W\8MB[)8?Q1?XL"*,85B,><_P!N
M.''_`&ZP_P!3^:\K^<NV.A?]XL?Z5)&R?@?^$/M:UW')^8+DUVG7XVY;7BUR
M?V4_!L2?^,S.(_`)W:.I_GI1NQIIN$8#`3,-=;2*5>:S_P#>&4-]/:#AC_[1
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M98^$.,R_[9G[UD?3WY71_F@;VO\`B8^6MJZ<-X5XJV+3[KP^.PBX_1HWD:=/
ML13&?>`3O9!-)4&J+YHU!6^'MPS"$4A=IZ6^$1X9PAMY3R!3!)8>%PP6+@-X
M[DO%D7#G)P\YX=<OE^./*F)E68W&=XQJ./PFUCUV-N<:M?=4W^&EK+3[SU>K
MU;;U-S5Y%_A.^2*H<\^8_P`.;MOWG?=H1R-^W''LR:Z,O<IQ7XB['K7(:552
MVDJ:HUU1JK4:X0A&$4KQ1/P`J(*BT:*FI<#<9D6P-`)<X(.?_P!`72<*`C#\
MM1>A[@X\C]%5.GG1E^:;T)?$%CBIR0\!8>HQ?!_!IXM4MUQ[;-S=<7=*&1;&
M$K6E\24(IQ48N6KC%1BDM$DO0\&Y_P`4?YIMHW+(VKQQO&'A^/,6^=.UX^5M
M>%DY-&W5R<,*G(R+E?=??5C1KA;=;==9;.,ISMLDW-["=X!FW,W(?-J&)+@(
M>+Q$YNX#(1?5D7I6Y%2+&<8\F.#.,<']FO1+P=X[?I1EK[,JW^ZV>&K^*G\Y
MM:??O&PV-OUEL>WZ_P"C7'].I]'_`,`VW;Z?Q)JX?_W+W_\`<1K\_P#`SQY_
ML<S_`,3;_?,O_P"U?YR__NG'O_Z3"_O'UG>`10QI@C,2OS6!<'`66INK(`\&
M,8X`Y/OD\WR\']H\Z^/P9X_;U[,Y?]ZL_NIGR/\`%1^;I12GD\5G+Z9;%B:O
M[=)17YDCS_\`^?Z@<BXV95C(N'C<;SEQ\;AX>'AX>?/AX>'7S_@9P#]C/_\`
M%3_O'X?\4SYLY/65O$6W_P#P&)_ZQKCU_P!/!13HUN2)'8RIJ7JT:LI`ZA06
M$Y#:EQQ)@$KB6B<;>.1JQHSA8'@L[`@#X.`7#C.=>C"\(^/,?,JNRJ]RMQ(V
M1=E:S)P<X)IR@IJ#<7*.J4DGHWKH_0P9G\47YJ[\6RG'AP>O)E7)0F^.XT^V
M;349N#N2EH]&XZK7TU1PWJ;P\MV+S?-O;3*^04_'K:I<)*Z4-=F3!^:G6Q&-
M2L/`V6-"L91*B'&*JFI4A%P$8+\P%26(8,#&/BR[YJ^7?<O&^-M_.OESJQ\G
MPOOF/5)6;AD3OR\;<(QE&_$OE%0[8Q[-:]8]9*U:O1-UDVGRM\J_SY[E.S^)
M7O7.=K^8SB\LC"Q,/A^!M>W;'/993KOIS*J;L?)G9F7W6V?BK)6O6J.*HPA%
M.*_4]X>&V+=SMDVT,U73.54#&9*3,9Q(W%K;X)-9\EQF2/9CB4J#(T=J0<@X
MU4$7&&4%O+\UGR9&/.<YUQG"=OWC;MD^'O\`7BU;M9D6V6+'<G4W.6O<NYM]
MTO67LUZ^TT?F./BW"Y)A\<\)[ORC>O%FS;+@[?M]_(/P[W.%.-6XK&LEBTTU
MSHQM?A8KE!V1IC&$I24(EXOP7<CTE4;U(3__`-P6NN(G'X+N1Z2J-ZD)_P#^
MX+0&^0Y'8:,E?BP9%"Y"H,-)RV&0R&/L.)2D!`/"DM>2^3R=#7FF&9#D`RS$
MV`!QG&0CSG&<`4G_`)KW]/7^(O0%L:#_`-B:4_XDKG_2#/H""=VN]"-[3'FB
MV!YKB:V$YWK/10EEQ&GBOHRWM&4QC04K&H>K*E\,97B3J\O166J/(5![P\X)
M4Y3$BPG,SH"&47B<P!^E-T0V'5=*II)ZPM9)2,1C#!8-+"E]M62KFCU!L-[3
M%5]AHG:`QXESC3BH$\2D+.@RC1&"`,1N2R1@7HIFUH]>%70JUXLD=VYEFK,!
MS*:)`E*1/[$N)4'MSS'7U*G4+$I+U'GI$H1*L$G'D>?3CR4:87Q1B`W,Z2QQ
M,<8G4R!C3J"1B+.(/=V\HXHP.>`19I1B@(RQAS].,XQG&@/JY5Q;VFCW[[;/
MVK0#E7%O::/?OML_:M`?/*R+^T\?_?;;^U:`^.5D6S],FCW[[;?VK0#E7%O:
M:/?OML_:M`.5<6]IH]^^VS]JT`Y5Q;VFCW[[;/VK0#E7%O::/?OML_:M`.5<
M6]IH]^^VS]JT`Y5Q;VFCW[[;/VK0#E7%O::/?OML_:M`.5<6]IH]^^VS]JT`
MY5Q;VFCW[[;/VK0&'?5-:REO-:9.H@DC:C\9"<V/QT>>&\X(O(()J-P$H3F8
MSC'EQD.=8;\?'RJW5DUPLJ?JI14E^9IHV.U;QN^Q9<=PV/+R<+/C]VRBV=-B
M^R=<HR7Y&4:M+PWO#0N#*LZ7[?*-2+EG&R<Z0<]-6CEDP6.#)^55?.T:$:=_
M>9@?E^G7$;IXOX!N^KR]KQ5-_K51=+^W6IP_26DX)\]WS=^.E77QWGF^V8M?
MI5FVQW*O1?J]N?#)T7U1T*#S_P`!;9FZ9,45#N)MZFU6<#\R@!8$:G<7)R+(
ML@QEI?B$KP<`''SY!.><YX<^77*3\+;9AOOXUNF[;=)>D8W?$K_S))-_ED2;
MO?SZ5>4L>6#\RGBKQ;Y!Q[$E._-V:K'SVO:XYE7>ZY/I[U=46M$<R-U/AO6_
ML2@2N]$.[VO9_7C&^,T=>#FQG=*_L=(VRMQ`V$!1CBST[ICR3%9A8%&!+"PB
M#GC<07!Q=>+*VOFG#:/Q>^[YB9'%/BP5[MHG78U)Z1253<92U:2<]=/7ZB!.
M:^(?DW\V[/GU?*/X=\@<:^:]X5EFQX?&^1_'V^>76E.=N1#<IPG3B4U*=UD,
M95REV*N,HN?<J>4%![*WASXJ@J*LNO\`TQU9'B52-#:LSEK;`RF>/KFY:<O/
M:$A2](Z.'XLM*.P#",PT1_\`G9$'BB'C+MW,-UR=ZA+Q1N.'7R1TV*RR5F71
M9&GW4U"5*@VGW:3CJM5ZLB+Q#\C'/^%<-W+9OXD>R>9.)>!<?+IOVNG:+-EG
MAY6ZY$[)9%>7'*NR?A761C&VBY1[7)6J7O\`;KU2:?`_W`RKT;G0WVTTQ@++
M)*&1$HHYS[)!!``E$ID2F9R6-X**(*#@)?\`E8"6'&,8#P8UZY<1\H[A-V;C
MOF%CSDVY.G%=LFWU;[KI)MM]6WJV^K)?Q.$?PJ>)R4]N\4^0.860247R#EUV
M-%Z>G?3M4(UZ>SMCHM.G0L%%O`.V[$Y)S8F\^X95@(@B/3PYSKBN$A^,?2'S
M>$4J4%8SG_\`";PZS1\69^1_YMR+>+E[55*O'3_)",OY3K-L\Y_+'PB7?XK^
M7+Q%MUT?N6;IB96_VQ?TN>=='N_RHLLG%_!0\,%B,(.D#$_V4>1D`L&S^]I,
MJ"<(/ER)0DC;[&4!O'S].,E<7ZL8UZ:_#/!W)2SX9F9->V_*NEK]JC**?YCL
MJ?XAWS"['2\?QW3P_B&,UHH;)QS:,-17L4)2QKIQT]FDM5]):V$[!/#>KT9!
ML8VV[:P'IL<!"M]C\7F"T'!P?I>G2\U]5B'PX^G(\Y_OUT.%XXX'M[3Q=IP5
M)>V54;'^>SN9&O)_G3^;+E\9PWSR%REU3^]"C.MPX/\`R,1T02^I+0M;&6NF
M862%/#FZKXDG!P<0B,I(DPD@X,<7&`EM9:4`>`/D\F/HUU6-@8.$NW#HIJC]
M$(1C_P`U(@/>^6\KY-8[N1[IN.X7/UEDY-U[?VNV<F;$XO<&>&]>TN[Q$G1J
M=4:IN<VQQ<69:WN+>N(,3+4"Y$I.,3*T:M,:(LTHP(@&`%D(L9QG.->BRNNZ
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M>_?;9^U:`<JXM[31[]]MG[5H!RKBWM-'OWVV?M6@'*N+>TT>_?;9^U:`<JXM
M[31[]]MG[5H!RKBWM-'OWVV?M6@'*N+>TT>_?;9^U:`<JXM[31[]]MG[5H!R
MKBWM-'OWVV?M6@'*N+>TT>_?;9^U:`<JXM[31[]]MG[5H#\O'CQ06_C+JV];
MB:*9V8"&+E-<`9[/J)[5YN!-8#W)2%<6C\O+;E18<QXQU``#$,H!Q65BA04I
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MF4YAF"Q"QC.<8SP</!H"@?\`->_IZ_Q%Z`MC0?\`L32G_$E<_P"D&?0$0[M]
MH,5W@QJ+0Z:6+:$,BC,\C52B-P-X94[#94;6Y2X=HC,VB1L$B0#)5%HPA2NB
M$M&]M7G#<HEA&3C.,!I,BV`UW*'E5)7:W=P2B3,R\#A2\C/FL7<7C;B+EFWS
MM4DJ12[P5Q"Y(%[TU)B3BIB&68_#"`H`<1'PDY`M34E716E*UAM50D#EB,PA
ME(9VX]Y<#79[<1A&8I<'I]=3L!,<GU]<U!RQ:?Q08.5'F#P$.,X#@#SN=*TV
M]."UW>*DK%V=7)2:L<7-S@,47N*]6<+C'*EJU4TFJ52DX6>$1A@A"%GRYSH#
MP\P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T
M,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E
M1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5
M$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z
M`<P5$]"E1]6T,]2Z`@+<]L*H#<M2,WIM1#HS6ILK0DX;IK`(C&F20,+PW*"W
M!H69$B;DN71K+<$Y>5:$P82U9&!`XP!9",/;^.N;9'COF.%R_%Q<7,LQ+-?A
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M@<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T
M,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E
M1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5
M$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z
M`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T,]2Z`<P5$]"E1]6T
M,]2Z`^<4'16/HI6I,?1GR5O#<?1G`L?_`,+_`&"QC./[]`?',%1/0I4?5M#/
M4N@',%1/0I4?5M#/4N@',%1/0I4?5M#/4N@-QB\&A,'*6$0J'16'D.)A1S@3
M%HZT1XI><0`19!JTMH1HP*C"0#R$`AX%D.,YQC@X=`4>_FO?T]?XB]`6QH/_
M`&)I3_B2N?\`2#/H"6L?3C_MT!^;DS>1=;??V["LY+NTDV(.AO.$L\OM>'MM
M9$Q#:'3"^P01USRYM4SJ-`^T%/4Q"YO8\GS#$P8W8C*U_3JB@D8R(#MIL_G,
M[LO;+3$ZLLY0MF4EAJ5>Y/2MCY,JY0BPK6)H_-%<>"0E+954VCA"1W,3%DD%
M$C6Y"646#`0!`VMYL6RFYV<4#;M]G#^WHUAR=&^(II42)&[)RQ9"4O3)':>(
M71,2H#^D$"@DHT./\0<9\F@,;SHVO\LUA>_M)=H^@'.C:_RS6%[^TEVCZ`<Z
M-K_+-87O[27:/H!SHVO\LUA>_M)=H^@'.C:_RS6%[^TEVCZ`<Z-K_+-87O[2
M7:/H!SHVO\LUA>_M)=H^@'.C:_RS6%[^TEVCZ`<Z-K_+-87O[27:/H!SHVO\
MLUA>_M)=H^@'.C:_RS6%[^TEVCZ`<Z-K_+-87O[27:/H!SHVO\LUA>_M)=H^
M@'.C:_RS6%[^TEVCZ`<Z-K_+-87O[27:/H!SHVO\LUA>_M)=H^@'.C:_RS6%
M[^TEVCZ`<Z-K_+-87O[27:/H!SHVO\LUA>_M)=H^@'.C:_RS6%[^TEVCZ`<Z
M-K_+-87O[27:/H!SHVO\LUA>_M)=H^@'.C:_RS6%[^TEVCZ`<Z-K_+-87O[2
M7:/H!SHVO\LUA>_M)=H^@'.C:_RS6%[^TEVCZ`<Z-K_+-87O[27:/H!SHVO\
MLUA>_M)=H^@'.C:_RS6%[^TEVCZ`<Z-K_+-87O[27:/H!SHVO\LUA>_M)=H^
M@'.C:_RS6%[^TEVCZ`<Z-K_+-87O[27:/H!SHVO\LUA>_M)=H^@'.C:_RS6%
M[^TEVCZ`<Z-K_+-87O[27:/H!SHVO\LUA>_M)=H^@'.C:_RS6%[^TEVCZ`<Z
M-K_+-87O[27:/H!SHVO\LUA>_M)=H^@'.C:_RS6%[^TEVCZ`<Z-K_+-87O[2
M7:/H"083)91)"'`V3UR_5V:D.(+1IWY\AKV8ZEFEC$:>F'#I#("4X$PPX"+"
M@10Q9%C(<9QC.<`4L_FO?T]?XB]`6QH/_8FE/^)*Y_T@SZ`EG0'D*0(2#URH
MA$C)5.8B1N2DI*06>XC3IP)"!KS@%X,6#(2EA*!DS(LA+#@..#&,8T!Z]`-`
M4NGNY2UV6VKKJ"&4>TN;I7M)02U8%)YM:L>A\8G1LNFCW$9`L>STZ-\4P:!U
MP0SF+W!:J"-T6E)E($C>/(4XE($.H=Y]^2>JR7V%4-#'>QFRN)/8LM('+[-=
M:_Q%VJRGV%0R<U^3#*>E-O6'&;:CL)>7R.($D8`]KD^$@`$"`?A1D#*MV_Q:
MO:JZE)U/#;858&RV7;IDLFS8#`\`,F\555DVJZ/:6ID3+'94XHGJR2$"IS6%
M-_`OP`@I*:/SWF`-,DF]S<O%YR\5>[;>:H(G,C?(/#JR3I+M>'QEA\RG$J,8
MF%IW&O#%7*]%"SY9$V]?+&A&P&/[@)H2!)5DI33R31`1FJ\6!\9HJKM^048T
MHJ8A+?F'6L>BL58X6*SWL&GIE;BA@AC`7"P,,JK!%R-_",O9C@D<3CG`M4!N
MP0G.#D"\&S7<;+MQT!ECQ8D%;:UGT*FYL4?X:B'8*96B2+8U'9?'7!S8K3KV
MLINQ'.C))2A%84-F4RPD`52<\99WFR@+>Z`KG:UWR>N;AV^UJW5<ND\>NM\G
M[`Y3T,ICS4GC#S$:KF]D,<>;X\J/&\/[S*LPHTCSIF$+8A)%YPQ4(S(2<@5A
MK[>5?\@4R*'2;;[7N;/)L9D@\/;()<ZR25^\N*JOYG8DYA+K83A7[0E2SVE4
MD/`VR@UO3.;*2Y.J4HE2([!Z<H#R0+??9;W%(2?)J';BI:=O%0;3;7$QS-Z9
M8W7_`.)K64EJL!,Q6C"(#;Z\B1E2-)^%(%4:1>G)\Y<0J,-IR)0K`P,W\0.T
MX4:U6`90<9>*&<V.T)4W+6NT#E%UR>!0!LGTA':S!6Y,1/:&RM6ECBK7^++7
MAV;Q!4R`@M(%2()`%H&J/7B*7M%\S"*/^W^KS+.I6-2RY;R;6>Y9&?#2:$B<
M1IR>*%=7R%?5R!QD=JK&*Z4J8#4Z(FEM"M:%.<KO,*$H\@6RI&[;XGVXJ]*N
MFD(J)/6%3M4=.0S^`S">ND@,E,W,'(HI!))'I3`(ZSIW])5QR%Z>!(')84@,
M=D1`?.^=&86!<S0%<]U=X2+;K3#Y:T:K<^SU3$[Q=&X,@).T1)&TLCY(6YG=
M92Z.CIY]0<A84RW)F$B!*L7*S\EE`+``1AY($`3G=[;M<6_:4-DU+1!1"(U!
M9/)8.NCEG'/]@C<D#E'8S6^;3C".*9CT%9K\F4@&WQ8HAV7O.<(#C3T6`A48
M2`:>_;X[P@I^[UAF>W!A63S;Q3Z>\H-#XO9CLWIY["3E$G3K@N4MLBOH*P*Q
MQ=#'T[D]+XF*5-[:%T+;<C,=BLIC0,];>\FYHTE=GFJJ3@<TCD3=82QOJV66
MHXQ=VELWDT)B<T!353QMCA$N>Y?:TC+G2!(S%C)(;0J"%?IZA-@L/"!%H_$5
MME>^((XQT7!`.5WR=WC.U(Q]M%[3)W0R)W*NIB8J]P);;7[B?7N4"I!EY1E,
M/*0*M*9A'DTI0'(\@?;3OB8O=K;A*:J`RGFZ/QVPX^UMDODF))+'<4.M=;$+
M%E#A&TLF2UV54:IM0+:U/0)&UQDC7,WDAQ2NB-D&WX,-T!UJT!CGA8L;FET<
M&]H62!>A;EJQ"PMRAM2N#TL3)S#DS2A5/*UL:$RMQ.`$DLQ4I3IP#'C)A@`8
MR+`'-5MWO7O((%MELEEV[0HIIN9V0LDQB3A<^%,^)D:ZRET#<H53S,SPQ:7/
MWN!L#8KDSXXN0F-B(:$8\A5<'G3DX&PE;U+)Q:E!HEM/1U-0VX2:3."P>Q02
MZ6F29:L:\SI9#)$J2FUTGJ^--,Q;HLVE($#M*D3R\K7X`6M,J`B4BR!];1O2
MN"80PLR+T#&&>ULR?<BTOD*G]R,S/%JYC%`V<DJ]5.+!L%H97AJ(:PK'=,XN
M93:6NR4F3K"41BXPD`S`(=(\3&QFM$WRZ94''6NNH4W0DJ\'EJL)]4R$QQM9
MWLAJJR6T7''J`,69O64I0P%([X4O9T?=/PR0IQ%I#!)C?.@:5.?%1M>L8L(Z
MP:-JB,2QJ3<OG]8LN*7G5<96CC437<\1A<>F22HE#PMW%35E5+VIL85+6E;5
M:YE5'D+32AE%9`[+Q:0HI=&(W*VXI40WR=@9Y$@(7%`)7$HGMN3.:4E82`PT
M!2HLA4$)@<"%@(\9QC.?IT!GM`<[ICN^NI+&=Q2^-4?`HJ[T+>!=<."VZ+F2
M1^($UZ*J(K9S?9,C<(%&IZ[A=IHKE*1E98XS)'AP&L<$HE`RA>>(+`TZV-]U
MSP:MG2W&/;<A%$JZQ5^;I:Y=,)>GEL+>);"(=-YK!4;=":QFB,IY@::>(R7!
M\>SF6,-'H2TYT6HRB^,$"6'O>#*6VQKGKE+3)JAUA$FV\QNI`BG<>4*+K!>!
M\O-4OJ0+7A>VPYI9&>#.BM+A<K$>H3I,FJ0(@"QP`5G<_$+W',J"3LZ[;K42
MV>PX%H3EZ-9+SD"^K%E:4C"(W-+;BD<GV*K"8^7C"5\J21U2D*1YC07?)F1N
M@/,*""0)PG&]R9M4EL2(Q.E4PG`INVDDT8\SB>)6EDLIYW93:5P9F>96GBC1
M+WBOX5"E\9,,5"&4K=UN"C0EHBN$@9H%I-NELN5VU!&K"?(XEB$D4N,RBTMC
M3>\"D+2T3*N9O(Z[EZ=C?S$#4:]1\<DBRHQO5&)4IQR,90C22C,B+"!-V@*>
M6)N,M*.75.Z6A5%$2=>R[>%MR0&2O]FQF),L_DJ28L426QI0`1#JJA\5C>'\
MI2XNZ\(50PEG`1H%/$+&<!"49WEWY-*\3FQ.D:Z>[2(C5H2MU,03^?NM3.$,
M@LY9H='+0@;C'JG>K/G,.L1,:[+F5"CC@G=VRS&%("U)1Z=68!]\7\01P>(_
M0\R>::.8H3:^V6X;XDTHY<-:W$2EU-)&4V25&@C>&]/*UKXD4KE!2TYS1LYK
M>H++1C3"7>E)T@&KR/>_N5B$O50B2;<:S1R&3E5['H"WH;I>7D<'GUDV!"*W
MA0-QJIJK94W0&,3];*'!X9"VD]Z?3&E@48/0E&F_Y($K5IO)FLWE&V6+.U)`
M9@W29N`C,\E+?/VEUC\*L[;TX2R/R"'Q!&:@02.:M[Z\PE<H3.:I&T)BFX:;
M(^,J,-3IP)SVU79(;VA\RD4IKHZK'R(7!:56JX@JDK5+%R8%>2A2PI'%Q=V(
M(F3#B\(R2U)Z=(<K3I##,D@4GX!YT0%B-`<]?YKW]/7^(O0%L:#_`-B:4_XD
MKG_2#/H"6=`-`-`-`05;>VFDKT13)OM&%9D1-@PAEK>8'))++HNX/$'CTK-F
M[1',NL2?V)T0HD\G/,4CRF.)-/"8(DT0R!"+R!JP]G&WLZ(+84IBLL6MR]PC
M+L:_.%PW.XV0F<X88[#BC@U6ZNL!1:C(KCP7]<4E,1O)`BDZP\G&?-&C!D#;
M@[;*++0UZV%5LPD-M4QTB)0!N3#<4R"/1Q/*(+-0M1:0A<60X)S976C&N.RK
M">,\]`')@AX,.P8!%X-AFUT!-D)N14Q,2VQ+%<^F:51>-\J4HK`6RXB=FV!%
M4RBS#$]=STF4I2U*=[CP6MT2A!@DD\LC_*T![R-C&TI,\1][)I&+X.C$`+K%
MI:QJY"=$\P\F)O,#((=H0<\F0V1/Y$(D3BT`>W!`J>@-B]2F"KP2>:`8$KT[
M1M74''%T5JN.*6%J='7\;=CW22RN:2!Y=`MS>RIE3U+9R^225O&6YC:$B!&!
M2M-+1($I*8@)9!1980):T!ITIK^(35=%G23,X7%RA#F\/,37@6N2!8PNK_$I
M#!'9P0*&U8C-+5JHG*W!'@><YR4%3D9?%-"`80*^5UL:VOU7&3(9$:]>#(D*
M*R.$)XW,K2MRS&1JB<P;R6J4L4?;;)G<L2QI#($"<):O#>%,([RB%G(A"%D#
M<8WM7H>)PY/`VF#GFQ]//&JSQFOTPG4KD[A8+%A`6R2U[G4JDSS-Y`\,R9J2
M)TIBYQ483I$A"<O`2"2BP@:R+91MJS.B;$#`WDF0E5_'*H/1)K0ME+"7>M(D
MQ.<:CT$DE9)IR36\IBR!F>E1643DTJB#QGC--",W/'T!KA?A\;/BXY'HF.G2
M53-&9.X2U#AQG%E.CJY.;L1&T;FWR^1.,R52&>Q!P;X8S)#F!\5.+$8B9T";
M*/)"),64!:"+P:)PM3+UL892&E7/I:JG<P4%'*SS7V6K6AF8%#TJ$K4*,@/$
MS1U"F"`OB$@*3`P$`>#/"!MF@-2G4$B5F11X@T[94\BB;^4F)>&54<K((7%(
MUR9R3`,.0GI50,%+D91F.(8'AR#@SPXX<9`@]JV<;>F6RI5;3?$I.&:3><M]
MERH2JW+B<8D\SYH5L2YFE2FN'&>JZY`[,JF,H,HAEM0,(P)"P$X`#'%T![X]
MM'V[Q;%G@9:X(*)N&/R&(SI*NDLR>D1T/EBEW726'15$]2%P25S$'MR?EBM0
MU1P#4@,6'B49*\]C!F`,/,=ENW"=*X4X/4+D:!QKM\F,FASG"[:N*MW1H?I^
M4W)I>Z9<Z\GT77N*EY1-)"8659A^"D@,D%8`2,8!`>!9L5VIK3;&4'5,04LM
M-R;GB4."&8V"V.;>[-4M4S](YUZYMLL2N%1+\SQ8<^'&Q,QE&J>#C%IV3%(Q
M&Y`RL7V7[8H3-878,3J=K8))7K+'V.)!;GR6D1MN+BD9<(9&7Q5!_P`?S"7N
M;L$2=5+:DD2]N4OQ"(\PD"S`!9#D"T&@&@*F.6QS;*Y/L#DH81)V1XK*//44
MA*B'7%=4$(:8W))49-9"RJ&^%V&P-SV@?I,9Z2L`O*584X``HSC$EEEA`VPG
M:AM]33J%V,FKI.GD]>M$79(G@B0RTF,H4\':5C#"'!=!"W\,%D$EA;*X'I6A
MX<6Y4ZMA!F0)E!6-`8Z9;.]M\_C,^B$HK<*EAL]4I63I.V2V=1M:^'KK(6VZ
MOX'J-R9H>FLEQL=P-=%)2-0G+4&"P68$1``%!`\*797MI(DL)F*RO%LEDU?-
M@FB/N\YL&S;!4JT0!2@3=F9XG$RD)-D+HX&:NX&97(@NBID*<3RT!B8LP0=`
M:P3X?&T`B&D0`JHLABI,D.E!B(5@VB-:Y*3XZW0XQA?GT<V$_P`CK[,.9T;/
MB++U2F-!:$A"+"'"4HLH(%R2BBDY11!!19!!!8"2220!**)**#@!9118,!`6
M66`.,!#C&,8QC@QH#[-`5NM#:/0%Q86\NX:[J#W&SF.YECA%[&LZNW<ZSXS"
M4==1Z88>:[F45=2G%FAK>2C3@`<$@K)83L%^?QYW0'@DNS/;=,&!BC,DKY:Z
MM,?=)&[D8/L"RRW-Z43+#:&:(IN_IY@2_6*P30+,C"\M;^I<FUV"E)PK(.P6
M#&`)#=J&J1[E:Z<N$.39EK@@;FQ0^HG1]:E@4C1%YK"VGT/\+=$9+<I:XO8K
MVC3*$X"CR`.!@@#"/`!!`@)'X=6SY'7K#56:Q?W*`19P"NC4>D-RWE*"F!.-
MFY/.,::%\CLET=6^!21D_P#2O,;*/"P/A6,!<$:G@QH"<9]MWIFSRI<7-H0E
M=13B.P:*R)6E=7]A<C&>LI&\2^N_P=UCKLTN46=H3*7Y4X-CBUFHW%&K,"86
M>$1960`;M7E>0NIX3&ZYKM@21>%Q%N`U,#&C,5*"T:4)AAYHSUJ]0K<G)P6J
MSC%"I6J..5K%)IAQYAAI@QB`W/0$*6OMVIN[TDF1V=#LR$N8UR[5)(SDTBE4
M:<'"N7UY;9`\17#I%7QD<D2)R=FA.8:8G-*4#"7DO)GFAC`(#3$VS?;REA;M
M`N2<I6LCR&*!4.3Q;UR/LZ0Y@;TZ2&$F1VSWJ?K[*B9T1>7I6>VF-;LC&BR>
M,)60`SQ=`;)W8*$Y.P6)<VK/R=K5E>8]"VSTMY\TU-,D<F-YDA"@[\3])>SY
M([QM&J<5"\:I0N4`&8>,P1QV3`-!.V+[8E#A:SDHA$J4&W8_+I98Z,^YKO.8
MW68+GUEDN)JRQPRQA1^$S9J?(X@/;'EC3-KFT92%!0GIP`P'`$L12@J>@[?5
M#7%(,W,Z*CT[XGJTLE6['F1?E.V*VB2JO2E;@H5/;G($:\_*U6XC5JE2@\Q0
M88(\8C,@;I$H-$X(2_D1)E3LI,HELBG3^!.:J.PY2V6+LN4B>C<JSU&2U#HN
M%DP8"^(4'/D``./)H#;-`<]?YKW]/7^(O0%L:#_V)I3_`(DKG_2#/H"6=`-`
M-`-`-`-`-`-`-`-`-`8.22>-0QC<)-,)$Q1.-M)03W60R9W;V%C;"1F@(`<X
M.SHH2H$90SC0@P(PP.,B%C'TYQKUX&WY^ZY<,#:Z+LG/L>D*ZH2LLD]-=(P@
MG*3T3?1/HCRYN;A;=C3S=PNJHPZUK*RR<80BM=-92DU%+5I=7ZD'K=X6TIN2
MG+5FZ';T2F3X"(XWGEKPSB8$,)8<\0J0C,SPC'C'DQGZ==;3XQ\D7V*JKC^]
M.R7HOP63]OMK.9M\A<"IK=MF][2H+U?XO'^SV6&03[K=K:M00D2[E=OZE4J/
M*3)DR>Y*[.4*%!Y@2B4Y!)<B$8<><:+`0@#C(A"SC&,<.L,_'/D*N#LGL.\Q
MA%-MO"R4DEU;;^'T275LRQYWP><E"&\[4YMZ)++QVVWZ)+XG5OZ#5F;>'3;U
M.7R'!S.6EH9W%\8DUL2"!21DI622:+OZ2*R6-1>S5Z,J/NSHS2=8%NXW&+2K
M%P#"$9RDTHP(>-.K,*OWU;;D5RM]"IY@N>K%<$%@/`44?8G%X:$S)5\023&;
MO*M^2@$UE(65,X$(!\!@C1.QN$F`9,"/B@:=57B2;3;28%\C,GPJQ0(WBOV4
M@-O$H82-X56D@<W*!B9#QN;@WN.'U(R+1Y*"?A4B"E,&K*(!Q1"`ET>\?:D4
M).$W<33Y0EEHJJ528,G;"7A3:J(18%D'3B&LP$Y[3&G`+,"'.0!,&$&1<86,
M9`^F=;SMIM9-[.Z3_<34<202%(E7L*A[FK.CP\HUS>2ZHE#66-1YU<4L0*"C
M"LE!%YS!I>`\.1@QD#Y?-YFTZ-<I?Q[<34+7R/9(C))+A5-V0(FADGIC<5#7
M!2$*H61%R(3PC]&"#C&#"L(%Q<!.+R("2Y_<5=5BT1:0S22HFB.3!X&SM,D&
M,)L?)R7#I-/3W9U>`"R@:H\FBL17*S%YQ@4Q8"\<(L<;&@-(@&[+;):CE!F:
MMKYJJ</%F-LJ>(`U1F9LKJY2UL@ZTUNEJUE1)50U*LEA6D&`49P'A#DHS..'
M!8\A`L)H!H!H!H"O[MNRVL,2AR1O.Y6@FQ<SFK$[JWK;@K\AP;U*`1@%J16@
M'(,+"5:4PH01E9!YP(PY#D/#Y-:"WE?%Z)2A=N6!&<&U)/(J337JFN_5->U:
M:DMX'@#SONM-.3MO"N67XN3&$JK(;1GRKLC9HX3A8L?L<))IQFI=K3UUTZD>
M0#Q!MC]G-ZYTA^ZJCU*-M6X;U8GN>LD//"J$0!1@)*.8J&%:J)R49C_-*+&5
MP\(>-QL9QC7X'/\`A.YURMP]TPG",M'W6QK>NFOI8XM_:DU]9V'+?E$^:#@^
M95@\BX%RB&3=5\2"IP+LN+CW./6>'&^$7JG[LY1EIH^W1IO.2K>GMLB3NQ-"
MNRVAYS*JOL^W(J\1'C2Z+R>*T\%(;.TC#*8_E?'W&5-J54,\EI`H].5D)%0R
M2QA2G^;Z?%R\3.H65@VUW8TM=)UR4XO3H])1;3T?1Z,@S?\`CO(.*;K9L7*<
M#,VW?*>WXF/E4V8]]?<E*/?3=&%D>Z+4H]T5JFFNC,9-M\.WR"L]O.KB_OKD
M=2D]A583!G98RYJ'-3.+#3-1L39HZ-:6WM+R2X+'02$Q<%4!N2N2)8E//+/2
M'@!Z#3F-AF^JEYM-FN&IF6WHXE>%:!C1SV<U1*X;7)4U7P5+8X:]=)0^I4@&
M*:$Q13DX29<2F)&:4(DLXPT183`/I6[]Z#!7U>63'BK3G[/931+90S,U?5).
MI5,V>%5^ZEL<\F\PAR%HP_Q:-Q)V4$IU`E1(%1Z@\LI*2H-%@&@-VFV[:I88
M[5ZT)B+!L0^QHRSSYO45'7$NLU)'ZT?UB1N9K*EPXHVKS62&N:U:$"8[B&J5
M`2SS"B!E)5)A(&%=M^^RAA6.S>\[JJ';%['(7V*.R-9949)4H9%&2BC7UI.(
M$OP9Z4W9.`6/&,9#D\6"0Y$;GB:`S2W>GM(;S9*0LW(4T0?#H*SV;)R13U@$
M8S0&0I6%:PRI6`"P0L-3TDE368E$'C"/"Y)<@QGT@GC@:]+]^NT.&,$GDJV]
MZ_>6J%QZ-RZ5BB;^W2A4Q127,*J3QN1JT3.H4JC6MW8DOI).2`FFC+.)S@&?
M/%<8#;6O=UMTD<$GUCPVU(Q/(S6!;4.=F0=:7*'&.C>RDQS6F7M;6(Y86J5!
M4\7`.+PX,*.+S_F$FA`!J4FW\[-8JP361N&XZIU:.OY>IKV3I&:8,[N[)+`3
M)W92*#IVM$J-6+908%B6@`E*"(8C4AP/((HS`0)`;=U.VQX<W!E:[SK!<[M4
MS%72]L32]G-7$3L`TQ68B%,!3DQ0_B/58+"F+P,P9@#`!QD1)N``3[H!H!H!
MH!H!H!H!H#GK_->_IZ_Q%Z`MC0?^Q-*?\25S_I!GT!+.@&@&@&@&@&@&@&@&
M@&@&@(XMJH:SO:`OE76_#&6P*_DGH/XW%G\DPYM7B;%Z9T;S1^9-(4%'(W!&
M4<6,L8!@&#&<9UO.-\EW[B&\5<@XSE6X>\T=W9;6TI1[HN$EU334HR:::::9
MJ=\V+:.2;;9L^^T0R=MM[>ZN6NC<9*47JFFFI)-----%(UGA">&RL3')1;2Z
MZ3!."$.3T"J5H5A?%&$?"0K32(L\@6<AX,Y"+&<ASG&?)G.I7J^9;SI58K%R
M/-DU[)1IE%_:G6T_RHCJ[P3XFOJ=4]FH47]%ER?KKT:LU1[R/"4\-],H(5$[
M1JM">F/*4DB$7(#`A.(,":6(11CX,HP.!@QPA$'(18\F<9QY-8I?,AYRG%PE
MR3<.UII_S:Z/IZJO5?:NIF7A#Q3&2DMEQM4_VK6OS.S1KZGT9_4G\,N@Y3+%
MLJ52BV6X*4B=BKE@9WR&)6JE7>QWHB3RAYJUS.@2F9(B#963ET2L;LZN\61+
MC!C(:P8XH0PE*4IR<Y-N;;;;]6WU;?UMDJ1C&$5"*2BDDE]"71+\A(E:[&*C
MK!>Y.[7)+1D#V]Q:=15\>97*6UQ<'@JQTL>3REY7"11YL(R^*AQH@XLPLLLD
MDTPSBE8!D(`?#Z0M/?"2V?SQE:XY^!2.'Q]K>8?)?P&$BA;4PKY-&(&?5[Q)
M7!B70EU9C)#9%>^B-<B6%IRU"LIL1G$"3*2A'C`R#=X6>WQI>)8\-$PNIIY=
MS9]D\R:&>4Q-HCL@C$I6LCE**G5,35`T;<D@DE7QM`<X+$@$\L6#2@R:\C_2
MQD#[3O"ZH59'I?''2;72^IY7$G&!)E,D?8')#(A"5*N(*&F+Q=M?:X<(Z)KB
MQ4(0$H/Q-"Y'9!@9BDQ2>+SV`(\/\&3:*,J=`3.-LIE-@0Z,0]U=%;Y!Y0^(
MLQTN#%JY.VO<WKN3NALHDX*Z:LK35IJQ*G,(\ZWD(3>*,(%Q95M3A4]JMAIZ
M<2J>2&*1-8X9BZDUV0ER%M9%=:2>ITC"O?#FQ6KD(&Z*2Y9GTU=YY>J6Y`>H
M.,S@01`8MAV>PF'66Z6E!+$MZ#O4C+,#+FB//L4'&I<:5@W#"H?6Q[A3P<(V
M*86K?0<)CTQ8O3C<J@*<EILD`6U_OX/I^S_NT!\:`^>#/U9^S0#@SC^S/D_N
MT!SO>O":\.I_6N[DY;4:Z&XO:IP6N"Q..2(S!K',TX]6I(+2OA2=(,1YXA@P
M4`("\\'%QC&,8U'UWBGQY?.=EFU8_P`2;;;7>NLNK:TEHNK]GI["X6V_/]\X
MVTXV/A87/MY6'BPKA7"2QYI0K2C",G*ARFNV*3<FW)?>;;9'4"\%+PW(&WKF
M_&WA%,O3E@5OIL]E,LDC@DXI`",)4*D;PE]'1?H\?(,8SPC%G.<_1P:[`\,>
M.<"N5?\`5\;NZ6NML[)M=--$^Y:+ZOI.QY9_$Q^=#E>75EOF%NV_"K[.S`Q<
M7'KG[SEWSBJ9=T^NG=KTBDM/IF:0^&YM.>*X-J=D@JVO8&"*.D79V>O7@Y@,
MC"EVF37.SYA''4XEP=D$V+?6D`<+1'F!,0FG)#2S$QPR\]_L^S;7L&!';-FH
MACX$&VH1UTUD]9/JVVV_:V5%\C>2^>>7.5W<X\D[ID[QRS(KKKLR;W%S<*8]
ME<$HQC",81Z*,8I=6_5MO#)?#1V[,*28B@:ZPZYDMDMV$]IS6+N\77/=LNX9
MVJL,$JM1FFD.EL"L1ZP^N[H4(IV9E;6:B=U)!B08,)_,;,X8UQD\+:D&.+&U
MTGL[<"=4QH!J^:@4M@Z.&$RI1!05TMFJ8YGK=LEB5X51C)Q1:`MT#'V\9^1(
M6Y+YA)A.!FW#PSJ$;HTX1.FI;<^V%I6JI9A.7MWFC3#,LD<GR&(E3F#1XE[B
MLJ1,\1E+Y"43T>624%6G>!J3DBA.!8I*-`EJ4[/89(3:[4L]CW'62J"UO'Z?
M=CZGE;3"<V55T94HUS5"ID(B-+3VE"C6ISQD+8R9'WA&!P5DIUI)!XB]`1=&
M?#5H*,S,4YS([;?W9(ABT=BJ61RMD6M<%K^#W%'KTAU;19.FBB$\,1CT_C_G
M2AKS5SL<F6'E'K3L83Y(`TYC\,:ODC[*7-QM>W4R-&_Q%[HU'&7N-MV:6>8=
M7])PUNL-G"YPYW2OMG'FTPEP>:Z%N#`8A,\UAK",9YAH'W(/"CVTMT@7R)+(
M;B*5N$18(FH((EL>1D'B8F\2$<I=#V^&I'.2RYV/&-48J=E"\"(XPP#>6B3&
M#($!L]*^&;MSHB'W1"X>ML)<@O<MD(FCH^NL4%("$C&]/,F)2M#JQ0QA&(M7
M)9&O7'"7A7&X-5C`4,HC!90`,E,?#II"7)T19$JMR'K4C$^1(YYATHCZ!T<H
M5+)%9,FF,/<A.<1=T9S+*UUHKP*A@)+6EE)DOHRA.8`TPX#4J]\*[;%5LD/D
MT+5V.TK`W"T7BRIBGN+EI8W-HZME"R-X0&IH:G<WAG8`SV0D)R7E0Z&"3OJL
M!IAG`GR0!TET`T`T`T`T`T`T`T!SU_FO?T]?XB]`6QH/_8FE/^)*Y_T@SZ`E
MG0#0#0#0#0#0#0#0#0#0#0#0#0#0#0#0#0%3-U&W]?;\8?'F,/-C<NDM;3.O
MX[$X_=4HJN#/)4Z4,V'!SDR)I1O+*YO+*2V><1&JT!^!%Y-2BR`I0,8`*[.^
MUS<$XI)7&<+(JD8)<TTFS.RZ/V98#`J0O,0I)UA+G8,*`-,Z.T=70&RP-3N@
M1FKCS'U.CXRI0!0#'G0-V8*%W",=8VH$]^:7&T9M)JD<A(N6S@LAKR[U_+FL
MR:V6DS(XN[)H2Z6K%4)9BIF2MQJ5&L2%X+,P8,2G`&JME/\`B#J(ZXB<K^0M
MTB);CSFH!CE%W8E0[%0V'#;DJDQ!4S&GRB-FP)`0KR(`<Y1&H#R\A&`XG0&$
M=*0\1!6M3.*/<(!*J0M3O'_2!2%@XBI,Y$50GY1`B:.KD45.DB<B//HT@E8C
M@(U:\S/^86;C@`DNLZIW:QA-N,E<K>X0ZVM8[#7J:+.:"8K01Y4[0H^7MKJ!
MN2C@!(*Y;W>.KTF6WA2O@T:PT1BK*CS6<&`;=04&W;12QW`^Y[%(GM9GQI[;
M425:[QA2[)W8)%;&QEQ-1,-:Q3SJL0BI*G<#,K!$F"$0<60$)OFTX$90S;_=
M+$T4VWN4>*2O<!C5G,A\J9+ND:X3;B=R:;-[4WGM#FT(RI4SL$-DB==CCC3'
MX<B$^,#%AL3>>`SBVB[63NK\,N)$.S;WJGBZ(FJ;+MDC(XL\42,4".9R`(CV
M8U%YR22B/K@.+7D0B"VY0>46?C+@>(H#7)]MLN64/<APW-I'X7(HM&(/+')7
M><U9E,T:^3KEA5+DB%I:5I\2F\%L%Q2.K<(A5@D2)I$G*&68M,,"!I6-JF[D
MF01*0E61$UJA/*F+G-;GZ3S%VCEEN$,6.W)>]LLI!;7B*RA>Q*TB-TCJ$P"8
M:A&2H+4B&G*$("=MRE=[KY)/Q/NWF4LT1;U%=)F0;NKD+"VKBY*@Q9*Q,G.;
MG>LIJ8>RJG1X91'&`4@$'!!@@%8$`7GP,-:];[T9%9*680"P$3-%6/#(K1P,
MRP"8^TO*@VK9,RRA`J_#JN>31DCF;J0<D,7&+`$JR25N"_-DA2Z`BFPZ$WV2
M6/Q`*2QV5]FL$M")21FDCG/4,63J(*W1*8-3PF"WL=0."9OM)2GDF6Q0[G%.
M+,K4Y`Y!:BL%!2!`G>P(#NYD=GD.$8L8<0K/$C@R14VL$FC`'%3!1IF8R6*0
MI)#5LA-;YJR.!3J4,8%YZ1[2K4@R\-YJ7.,@:G;=<;USK8F\EHZ6Q./19P<X
MR\,1#](68M`_'-355K8M;)<SXJYX>RFH0&5_X/1G7SXPJ0!",K!@<)@(;8J`
M\0J/%3OD]:T<BXI:ZO\`*T1*:5L\B-Q/)>;$<KI)*79YJ4H2UHCQ[4,:=G;$
MJ`I0WEGH\*"#%):LD#IW7:64(8%#$4W%DR8HXRRI92;EY*D63G].@)*=3_QX
MECC)3O@]:`8\*`MR'!F!</F"O\`0-RT`T`T`T`T`T`T`T`T`T`T`T!SU_FO?
MT]?XB]`6QH/_`&)I3_B2N?\`2#/H"6=`-`-`-`-`-`-`-`-`-`-`-`-`-`-`
M-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`-`
M-`-`<]?YKW]/7^(O0%BZ'EK271M+EB32;(BZGKL&<EPB:FEBR"(M`<Y+-+CX
MRS`9SCR"#G.,X\N,\&@)6Y8M'W64^XDX^'=`.6+1]UE/N)./AW0#EBT?=93[
MB3CX=T`Y8M'W64^XDX^'=`.6+1]UE/N)./AW0#EBT?=93[B3CX=T`Y8M'W64
M^XDX^'=`.6+1]UE/N)./AW0#EBT?=93[B3CX=T`Y8M'W64^XDX^'=`.6+1]U
ME/N)./AW0#EBT?=93[B3CX=T`Y8M'W64^XDX^'=`.6+1]UE/N)./AW0#EBT?
M=93[B3CX=T`Y8M'W64^XDX^'=`.6+1]UE/N)./AW0#EBT?=93[B3CX=T`Y8M
M'W64^XDX^'=`.6+1]UE/N)./AW0#EBT?=93[B3CX=T`Y8M'W64^XDX^'=`.6
M+1]UE/N)./AW0#EBT?=93[B3CX=T`Y8M'W64^XDX^'=`.6+1]UE/N)./AW0#
MEBT?=93[B3CX=T`Y8M'W64^XDX^'=`.6+1]UE/N)./AW0#EBT?=93[B3CX=T
M`Y8M'W64^XDX^'=`.6+1]UE/N)./AW0#EBT?=93[B3CX=T`Y8M'W64^XDX^'
M=`.6+1]UE/N)./AW0#EBT?=93[B3CX=T`Y8M'W64^XDX^'=`.6+1]UE/N)./
MAW0#EBT?=93[B3CX=T`Y8M'W64^XDX^'=`.6+1]UE/N)./AW0#EBT?=93[B3
MCX=T`Y8M'W64^XDX^'=`.6+1]UE/N)./AW0#EBT?=93[B3CX=T`Y8M'W64^X
MDX^'=`.6+1]UE/N)./AW0'/WE0V?_*GZ9Z/(?-?_`!^^B^;Y'R_TOSG>'\[Q
7_0?P+TST?B?_`*WF_-<;]'C<;R:`_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>18
<FILENAME>sig.jpg
<TEXT>
begin 644 sig.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+
M#!D2$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"`!$`1$#`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`****`"BBB@`HHHH`****`"BBB@`HHHH`**3(SCO2T`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%4-8UFPT#3)=1U*Y2WM8A\SM[\
M`#U->9^(/%VO7-K:W-Q;SZ;#=L5T_3K63=<:AD'!9MN8@!@D%?XAR*`.MN/B
M3X=@N[RT6:>>[M)C#+!!"7;=ZC';WIVC>-)-0UB/3]0T2\THSPR36SW1&)0A
M&[IT.&!YI?!7A+3_``5H&"$6[F'G7MRYY9^IR<G@<]ZYO1)5^*.NW^IW4,]O
MH>G!["U5)"/M1+!I')P"!A(Q@?G0!U=SX\\.VUVENU\'+.(R\:%D5B<`%AQR
M3BI=9\8:7HTHMBTMW>L<"UM$\R3\0.GXUP5[Y_C?Q/;Z%X9B2QT+0KD//?1(
M"CS+P%53@$J<D')YYQ71ZI%:?#_2(H_#VE_:=6U.Y6WC#N3),Y!)=VP3@`$G
MH/I0!TGAW78/$>C1:E;Q2Q([O&T<HPR,C%6!^A!K5K+\.Z/'H'A^RTR-BY@C
M_>2$8,CGEV/N6)/XUJ4`%%%%`!1110`4444`%%%%`!117':IXCO-8U6;P]X6
MDC:XBP+Z_P#O+99.!A>`[<-QGC%`'7+-$TIB65#(HR5##('TI]>8^'M+M?#?
MQ,M-'MVGFNWTZXN+RXFE+O(#)&%+=@"0Q`'3WS7IU`!1110`4444`%%%%`!1
M13)98X(FEE=4C099F.`!0`^BJ&C:E_:^EQ7XA:*.8L8PQ^\FXA6Z#[PPWXU?
MH`**S]7U5=)M%E^S3W$CL$CBAC9BS'UP#@>]<]-J7CB]5UM="M-/4K\DLMRL
MQY'4K\N,>GM0!V-%><+=>+]$\::#IUWKEOJZZB9&N;9+'R3;Q*O+[M[="0/>
MO1Z`"BBB@#R*[NO$NO\`B^[,.CQZ@(9WM[**^MI8K.T12<SR%U'F.W``7.!G
MUKM/"W@FW\/W,^I75Y/J6KW/,MU<MNV=RL0_@3)/'TKJ:XKQEXAU*#5K/0='
ML+VYNYXC.[0(511N`7=)T5<YSWQP,9S0!SWB;5]3\6:[;:5I6GF2V67]QY[%
M8YE!(>YD4'+PID!0>)"W<"NMU#PG<RZ%8:%IFJ/IU@B[+R6!`)YAC^%NBLQR
M6;K4WA3PE;^'(#,\C7&I31)'/<.2>%'"(/X4'.%%='0!S>L:MI7@7088;:T!
MD8^58Z?;+^\N).RJ.Y[D_B:I6:6OAM6\0^+]9@CU*Y0*?/E"16PZF*$?S/);
M'X5F7W@OQ1J?C6ZU277H;>T4[;)HX`\UO&1AE3=\J$\9;!)P.:YQK>VC^(FI
M7&K^&-;U:ZMVCM=,C>!YXB@`S.9&^49/?MCUS0!TB_$'7KM)O['\'7&J"*>2
M$S17*1QEE=@!\W/W=AZ?Q$=JM:3XG\6+XCT[3?$/AVVM8[]9#&]K=B9HBB@D
MN,?=Y`R.Y'K6[X2T:71/#\4%T5:^GD>ZO&3HTTC%WQ[9./PKDXO#7C:/6;[4
M([W3UO;B21$OYV>8PVY;*1QQ<*O09ZY(H`[K^V-/.M?V.+E6U#R#<&!025CR
M!N)'`Y(QGKVZ&F:QKVD^'[5;G5]1M[*%FVJTSA=Q]!ZGZ5YUHG@OQQH&I:K/
M:WVESW>H3YDU:[#R3F,<*NSA1@=O_K5P&HV'B'6]5TS3?$NBZMJMW9:BYN72
M*1O,@4]4SA$1SCD=0!SQB@#Z4!#*&!R",@TM>1R?$C7=7O'MK'2TLUMI9+:X
ML`7FO)6''RA`/+'^T2!U(/%2W^C^.K2;1-/TGQ!JC7MS&&OY[E4EM[90H#X)
M7)8L>!GM0!ZO17`?#W4-0C\0^+/#FHW]Q>MIEVCV\ER^Y_)D4D#)Y.,?K7?T
M`%%%<KXY\0:CI%C:V&AVWVC6M3D,%HI&5CP,M*W^RHY_*@"OK6OW>M:J?#?A
M6\M_M2%O[2O/OBQCZ8&/^6I.<`]-IS70Z+H>GZ!I\=EI]ND:*!O?`WRMW9S_
M`!,>I)K,T;2M%\#:.B22P037#K]IN96P]U.>I)/+,22<>]+XK\17>D+:V6D6
M0OM9O=_V:!B0H5!EF<CHHR!]2!0!>B\/V,/B>X\0J)/MT]LMJ^6RH122,#L<
M_P`JU:Y?PEXBU#7'UA+ZVB4:?<BW66`,%E8("X&2?NL=N<]NU>5R^-_$;ZS_
M`&AXEGUG1=/^W1BVMUM_(6.(R#/F%BK/Q@'@C!)^@![Y17!:Y\5=-TRQFN[#
M2]4U2&%-[SP6S+"HSCF1ACKZ9KF_#GC/6!#>W2:Q!XAU"^)DAL8/^/?3D&6)
MED`X`!`]R,4`>PT5PGA_QMJU[?:.=;TN'3;36H6-B!(6D\Q5#8?.`-RDE1UX
MKNZ`"BBL;Q'XHTWPQ9K-?.[RR';!:P+OFG;T1!R:`-&]OK33;.6\OKF*VMHA
MN>65PJJ/<FN$MO[2^(VJ":\M);/PA;N)+9'^5]3(Z,R]1%W`(^;(_#%N;VRU
MJ^-WX_U.Q6S4>9:>'H',C1^C3*N2[8XP1C.<5T6I^/MFFP6^AZ7<+J-V3'9Q
M7T1@14"Y,S`\B)>.<#.0!0!L^(_$O]AQPV6EZ<VJ:M+A8-.MW52%_ON3PB#@
M;CQD@4[P_H^K6MU/J6LZM)<W=R@!M(\"WM^<X08R?3<>M<SI%YI'A[%W9QW?
MB7Q#?92]NK$><2R'Y@S9VQH#P!QT%=5K7BFQ\.:%%J6K[K=Y`H6V7YY'D(SY
M:@?>/TH`DU?Q/I.A:CIMCJ-SY,VHNT=OE206&.I'3[P&3ZUCWWCE;RY_L_PE
M;)KM\'*3-'+MM[7WDDP1U_A&2<&J^A>$IM3>\UGQ46NKK4%VQ6DA^6R@)#>4
M,8YSC<>^!76Z;I=AH]FMGIMG!:6Z\B.%`JY]<"@#-T'PU'I-S=:C<W#7FJWA
M!GN7'"@=$C'\*#T]>36[110`4444`%)M7?OVC=C&<<XI:*`"BBB@`I-HW;L#
M/K2T4`%%%%`!2;5W;MHW8QG'-+10!$MM`DIE6&-9#R6"@$_C4M%%`&-:>&;"
MR\4ZAXAA#B]OXHXILM\I"<#CUX%;-%%`!7/>(-"OM0U33=4TR^CM;RR66,>;
M'O5DDVYX]<HO/UKH:*`.?L?#]XU_!?ZWJ(OY[=&6&-80D:%L9;`ZGC`)Z4[Q
M!X5MO$-Q;SR7=W:RPQ20[[:4H6C<J64^WRBMZB@#SF/Q#:6MM<6VBW$.D^'=
M,9DN=3E4'S)<_,L8/WCG.6]:Q/"WA`>)O%(\07UG<?V5!(+BUFO7+37LF/E<
M@_=0=0OTK:T?X/Z997EO/JNHW.JK:`K9Q.HA6$'U*8+'ZFO154J6^8D$\`X^
M7CI0`S[-!Y9C\F/RSP5VC!_"F06-I:J5@M88@1@A$`R*L44`4[G2[*\GLYI[
M:-Y+)S);DC_5MM*Y'X$BKE%%`!7$7GP[_M/Q)J.K7^M7DJ7</V=8%`411$Y*
MJ>H^HKMZ*`,C2?#&BZ);>18:?!&O<E=S,?4D\UF>)/`.E>*=0BNK^2Z4)"(&
MCAE**Z!MP!Q[UU5%`%6PTZTTRTBM;.WCAAB0(BJ,8`K-D\,P77B2/6;^X>[>
M!66U@D4>7!NQN('<X&,FMRB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@
/`HHHH`****`"BBB@#__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>19
<FILENAME>header.jpg
<TEXT>
begin 644 header.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_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"`"Q`Q$#`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`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`**0]*2@!U%-HH`=13:*`'44VB@!U%-HH`=13:*`'4
M4VB@!U%-HH`=13:*`'44VB@!U%-HH`=13:*`'44VB@!U%-HH`=13:*`'44VB
M@!U%-HH`=13:*`'44VB@!U%-HH`=13:*`'44VB@!U%-HH`=13:*`'44VB@!U
M%-HH`=13:*`'44VB@!U%-HH`=13:*`'44VB@!U%-HH`=13:*`'44VB@!U%-H
MH`#(BLJLZAFX4$]?I3JH7G_'_8?]='_]`-7:;0D[CJ*;29YI#'T4S-+0`ZBF
MYHS0`ZBFT4`.HIM%`#J*;10`ZBFY]:*`'44VD#!B0",C@C/2@!]%-)Q1VH`=
M13-W/&.M+0`ZBF9HS0`^BF9YI:`'44VB@!U%-HH`4]*2E/2DH`****`"BBB@
M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`*5Y_Q_P!A
M_P!='_\`0#5VJ5Y_Q_V'_71__0#5VF^A,>H5BVL4L?B#4XS/++NMXG4.W"Y:
M08`[#@5M57%K&+R:Y&[S)8UC;GC"EB/_`$(TBCDA+/HVCW,#VTEOJ"VJGSA,
M9`_*JS=>""<_C6YIL"V.L75G`S_9_(CE",Y;:Q9@<9]<"IAHMNQG-Q)-<M+$
M86:9LX3T&`,?_6J>ST^.SDEE$LLLLH4/)*V20.@^@R:`.:BOKG3+O5I=[2K<
M/+Y$;'/[U7VA1]=R\>U6-)GO;:SM]/AE5KAY[@--/EP`C<\`C/)'>MEM'M&:
M-F5B8KDW2Y/1SG].?Y4C:1`0#')-%(LKRK(C#<"Y^8<@\'/I0!D-X@U"1',,
M5NIALVN)=^3ED=E*C!Z':>>WO5UM9F$%W*(T'E-`%!ST<+G/_?56$T*S1'11
M)A[<VS9;)*DDD_7+'FFR:%;R$_O9U1O+WHK@!RF-I/'L*`*$VLZBM\D42VWE
MRWC6BE@V5PN=QYYZ'CCZU`GB6\F@C"1PI.$E:0>6[ABCE0!MY&<=36T='MFF
MCD._='<FY7GC>01^7-11:#;P!#;S7$+J7^=&&2';<0<@C&?RH`J3:Q?"2>5(
MX5MX#!N1U;>=^W(ZX!&[T-3:!<7UQ/JGVJ=)$BNVB0!<%<!3CKTY^O6KLFF0
M2BX#F3]^49SN[KC'\A3K33XK*XN98GDQ<2&5T8@J&X!(XSS@4`<QIY<ZM%Y?
MGQ2-?W`>9I"4DC5F^0#.,],<#&VM2VUFZ;[+<7!MUM;M7:/@@Q[1N&XDX((!
M]*O?V/;&.-`9`8[DW*D-R'))/X?,>/>H3X>LVC:*4S20;'C2)G^6-6^]CO\`
MF3B@#.7Q%=F>2V402R,L1AE$;HA+MMY#=0.N0>:T-%,PO=6%P4,@N%!*`@']
MTG.#T_.@^';4L[O-<O*T:1B0N-RA&W*1@<$'%2Q:4UO<K)%<RD/-YUP7;F0[
M-H'&!CH?PH`I>(()3<VUU*DD^FPJWGPQN00>SX!^;'/%2OK!2VO)+?RWB@$/
ME-R=RN!SU]ZO7NGB^7:]Q<11E2CI$^`X/4'C]1BJ\F@6DF55YHHBJ*T4;85M
MGW??C`[T`8LE[>1WL:6;10*^K/#(-I;?\F<GG^6.U7--\07%]?1+Y`-O,\B#
M9&^8]N<%F/!S@_2K\FAVLAW!I4?[2;H.K#(<C!_#':I;32XK&1C!+,L19F$.
MX;`6.3CC/?.,XH`R-8C-KJ<FI7-H\]DD48+),5,9#-N;;GGJOY52N)Y5^U:F
M)9#<PZFMN@W'`CW*I7'3D$FNCOM+BU'*SS3F`XW0!\(V#D9[_K36T2T:[-Q^
M\PTHF:+=\C2`8#8]?TH`RM/)6;2[W>YGO9I%G)8D,-KL!CIQM`%=/6?!I,%O
M=+,KRD(7:.-F!2,M]X@=><GOQGBM"@`HHHH`****`%/2DI3TI*`"BBB@`HHH
MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@
M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@"E>?\?\`
M8?\`71__`$`U=JE=G_3K$?\`31O_`$!JNTWT)CU`\BN2TO5;N;55B:[>0M>3
M1O$Z`*(US@J<#G..,GC/%=;6%;^'WBF7S+L/`ET]TB"+:V]L]6R<@9]!2*&W
M6LR/'>VKP^1*+:62-EF#'Y>.<?=/(-/GUQM.2U$UN6A<1J9?-7.6('"]3R1F
MF1>''CB6)KJ,HEO)`I2':2'`&YCNY/R^V<FF2^&&D>;%XH25XG;,.7!3'`;/
M`..F.]`%_4YIS<6=G;RF%KAFWR@`LJJ,G&>,\BD:\&E%8+B665/*DF\^4C/R
MXRO`'8Y_"I]0L&O/(>.;RIX'+QN5W#D$$$9&00?6LS6+">\@LK.X?S9FN,LT
M,15?+P=P.2<<'')H`?%XBDD8$Z=((A)#'(Y<?(TBH1QWQO`-.C\1(US9P-;.
MK3M(KDD8A*';\WU/`J>72!(+D";:)[F*?A?N[/+XZ]_+_6H+CP\)_P"T=MR4
M:[9&4[`?**G/XY.3^-`!;>(DN;22=;9UQY91"W+AVVJ1]2*HRZU-?:GI)A@F
MAM7NW19=PQ*%5@<CL,CCZ58FTM7UW38H1(L%I#F3Y?E.WB,9]1ECQ0/#T]N+
M8PW@>*SE>>"(Q8)+!OE+9[%NN*`-35YI+;1[V>)MLD<#NK8S@A2161;:I);1
MWTK73W=K#`LB2.@!\PY^0$``_P`/YUKS6LM[HSVD\@66:`QR.%Z,5P3BH]0T
MF/4;:WMI7_<QR*[IC_6!>BGT&<'\*`(M"N[B:*XM;U@UW:R;';&-X(RI_(_I
M3$GNQXKDM9)PULUKYJ1JN-IW`=>YZU8LM&MM.OI+BS184DC"/$J\$@Y#?D2*
MD-AG61J'F'_CW\CR\?[6[.:`.:;Q#-9PI=/=^?,\<[36C8`B9%9@.!D?=QSU
MZU.^IWUFRVSW)EEN;>*19&4?NW>14;``Z?,"*U9M'>]F9KZX26+8Z+''%LQN
M&TDDDY...W6H%\.EHV\^[\R40QPPR"/&P(P921GD[@">F<=J``7UQ:?;K3S6
MGE1XTMVDQN)<<`X`S@@GZ"IM(N+B70C+/*99D:9=Y`!.UV`X_`4#08;CS7U$
MK<RR.'W(&C"X7:,88GIGOWJ?2])ATNP:TC8LC.[$G/.XGW/;C\*`,QM1N_LG
MAYQ+EKLIYQ_OYB)_G3]#OI'AF>_NYQ>1KNN+>9`@B]U&`2OODU);:!)&]B)K
MWSH;#/D+Y>UNFT;CDYP#V`I9M#N+QI7N[U'=X#`/*A*`(2"V<L<DXQ[>E`":
M!>7LLL\5\V7=4N8N,$(X^[_P$@C\JW*S(-#M+/4([JTC2#"-&Z(F-X."/R(_
M4UIT`%%%%`!1110`4444`*>E)2GI24`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`%&[_`.0A8?\`71O_`$`U>JC=_P#(
M0L/^NC?^@&KU-[(E;L****104444`%%%%`!1110`4444`%%%%`!1110`449H
MH`****`"BBB@`HHHH`****`"BBB@`HHHH`4]*3-$C!4+-P!R2>U>=ZOXYO-5
MFGLO"L880`M<7\P`CC4=QG\>3Z<`UI3I2J.T3*K6C37O'H,DL<2[I'5%]6.!
M2JZN@=6!4C((/6OG6$MK.HR7&M:O(UE`P\V=V9BV>BHIYR<''H.M7=;\:ZAJ
MNW3]+,MIIL8$4%M$?F(```8CD_3I7;_9TKJ*?KV1PK,HV;:].[/?@01P:6N8
M\"Z3=Z)X7M[:^<^<Y,I0G/E[OX?\?<FNG'2N"<5&32=ST*<G**;5F%%%%26%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`%&[_`.0A8?\`71O_
M`$`U>JC=_P#(0L/^NC?^@&KU-[(E;L*KQWMM-+Y4=Q$\@&=BN"<9Q4YK@_#,
M$DL5@T-G(GD7MS+)/@`,I,BXSW))''M5P@I)M]"9S<6EW.ZE=DB9DC,C`9"`
M@9/ID\5C_P#"1QQQ70GM94GMY4B,2D,79\;0I[YS5][R3^S3<QVDS2A-PM^-
M^?[IYQFN<ETRXN-)0_9;@W0O([FZR-AE_O!>>@'`'M69H=$;F]$"N+$&0GE/
M.&`/7-/T^]^WZ?%=B,QB0$A2<XY_R:Q?LM\=$O;:VBFA^TS[(%8\PQMM#'KP
M/O$#W%:-W!(+#^S;(O;DP;8YP!MC`P,=<YQT^E`#K36(;LWI"E([1RI=CPP`
MR2/;@U6@\0+<V<<T5K)YDLYACB<@$D#.3Z#`)K-@T?5PMY;F2S2,M%MQ$VQU
M4#C&[..,&G6]AJ=O-'=W4:2M!?22%+=""RLA4D`DYY(_#-`&]9WQO+-IDB99
M%+(T3$9#*2",].HJJVM&'[4MS:M'+`BR;%<-O#$A0#ZY&*;IGGVT$OF6DV9I
M);C`P=HW<*>?O$8_6LXV$TBZ@]K:S)$_D.BSMEY'1]QQDDXP`!GC.:`-)]=\
MH-%+;,MV)EA6$.#N+#(.[TQG\C0NMF984M[5I+EVD5H2P788SALGZD8]<BLZ
MYM+JYU-=66UE5(KB-A$P`=D5&!('_`^GM196MS87PU%[:5Q.]PS1(`73>R%>
M,^B<^F:`.AL[I+VTAN8P0DJ!P#U&:J:WJHTC3_M&(R[2)&@D?:I+,!R?0=:D
MT>VDM-)MH9AB14RZYS@GDC]:KZ_:/=V,2)%YI6Z@<K@'Y1(I8_EFJA;F7-L1
M4;Y7R[FE"[20([;-Q4$[#E<^Q]*S6UOR+XVMY;-!^Z>9'+!@40\YQT/(-7K>
M8R"1?)>,1MM4MC##`Y'MS6`]M<:B=4::TGCN9X9+>W9U`6-,''.>I/)_`=JD
MI&M::C=7=K]H6P95=`\2O(`S9[$?P^O>I+"_>\DN8Y+<PM`X1OG#`D@'J/8B
ML;2[>[MKSSX[6YB@2SVS12-DRS`YR.3D]>?>K^DQW%GI,37,+M=3R>9.%P2K
M.<\\]`,#\*!D[ZK&-:33!&Q=HC(9/X1C''UY!_&H3K]N)[]-C%+*/S'<=&ZY
M"^I!&/K61%HVMV^HV[)<6K_).6N/*8D,^WDY;KP,=@%IG]AZLBW5N?LC1_8E
M1#'&R[V#,P&2QYSU)]:`.BL=0:ZGGMYK=H)X0K,I8$%6S@@CZ$?A37U*6'48
M;:>U,:3LRQ2!PV2`3R.V0#56&:?^TKG4&L;A8WCA@1"!O.&8EB,\`;_T-1/`
M]QKL$\%K<)M+B>28G;M*D#:,G!)QR!TS0!(/$<21&>>W>*W:!KB*3(/F(,=N
MQP0<>]/CUX$SQRV<Z7$4:2B%<.SJYPN,=\\'TK&N=*OM0TBVT_[,\4EI9-"7
M?`5WPJ@+Z@XSGZ5JZ=#<W&MRZA+;O!']D2!5DQDL&+$\=N0*`-/3[P:AI\%V
MJ%!*@;:3DBK-9^AP26VB6<,R%)$B`93U!K0H`****`,3Q7HMWKVDI96E\;,F
M4-*XS\Z;6!7CUR/RKSWXC0IX;T73]&TRW^SV4Q9IG3[TI7&`QZGKD_A7KQZ5
MDZWX>TWQ!%%%J-OYJQ-O3#%2#]0:Z</7]G)<WPHY<1A_:1ER_$SPK0?#9OK6
M;5-0D:VTBV^:68=9#_<3U)K<\+Q6&CI-XNU2W2.U5F6PMD.2[YZC/7`!Y/UK
ML?B3I8B\#+#8QK#!:2HYC08&P9'\R#^%<'X6T6_\8ZM:+=(_]EV@"L5RJ*H_
MA7W)Z]^2:])5O;4Y3D[+]/\`-GENC["I&G%7E^O^2/26&J>)(=&O(#]CMV>5
M[@#:7$><*`>>2!SBNN0;44<\#'-,B@C@MT@B0)&BA%4=``,`"O-O$PU'1]:E
MO+&ZNOL=O)$&1IW8!B-V,$]#C]:\><^;1;'M0ARZMZL].HJMI][#J-A#>0$F
M*90RY[>U-U.^33=-N+R0X6*,M]3V'X]*@T+=%>6^#VN]4\13VVIWEZ=D;/Y7
MGNOS9'!`(]37J(`"@<X'K0`M%1R7$,1`DE1,]-S`9IX8,`000?2@!:*:TB(`
M6=5!.!DXR:226.(9DD5!G&6.*`&7-W;VB![F:.)"0H9V`!)Z"I@01D<BLG7=
M'L-9LT2_=DBB?>&5]N.W-:<4:PQ)$F=J*%&3G@4`/HJ*2ZMXG"23Q(QZ!G`-
M2`@C((Q0`M%,DFBB&9)%0>K'%*KJZAD8,IZ$'(H`=137D2-2SL%4=23@"@R(
M$WEE"XSG/&*`'44R.6.9=T4BNO3*G(K*\0:XNC6T:QIYU[<N(;6#^^Y]?0#J
M33C%R=D3*2BKLUR0*0L.]8=MH!N;=7UN=[RY89D`D98E]E0$#`]3DUB^)/`]
MN-.GN]$DGL;Z)2\?DSN%?`Z8SU/J*N,(2ERN7^1G.<U'F4?\SMZ6LOPY)/+X
M9TV2Y9VG:V0R%\[BV!G/O5Z:ZMX,>=/''GIO8#/YU$E9M&D97BF344U71P"K
M`@]"#0755+,P4>II%#J*AAN8)\^3-'*!UV,#_*I<T!<6BH9;J"%@LL\<;'H&
M8`G\ZD#`C(.0>F*!7'45&9XED6)I%$C?=4GD_04V:Z@M\>=/''N.!O8#-`71
M-12`Y'%+0,****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`****`*-W_R$+#_`*Z-_P"@&KU4;O\`
MY"%A_P!=&_\`0#5ZF]D2MV(>E06EG;V%OY-O$(XPS-M'J223^))J<]*XM;F]
MTUS)+]H>/396C;&3YB2%MI]\#9]*0[:W.TS[49KD)+"\5X].\^X#7,,<C.';
MY71&#<]LMY?'UIJW5Y'`=;;SSY\KHL6#\J^7M7Y>WSJ/SH&=E^%)GG&*Y?3+
MB2SO9(;N286^F1,'E?<=Q=\K_O84#\Z2YB:6[NY2]QQJ$"*5D8`(5CW8`/0Y
M.:`.IXI&;:I8@G`S@#FN1??#?I!<O,FE)<3*Q+M@':I0$]<<MCWIFG)=7%W"
M;B2Y*)8R21AV89Q*VPL.YVXZT`=?#*)H4D".FX`[77#+]1VI^?:N+TR>6+^R
MI)2US++!$@B:1O,B;!R^.A'J3Z4V.28V]O\`99;AK@V<QOPS,2K[.,@]#OZ>
MU`';9%&?:N5GCFM8YQ;-<!6LX7DP[,?OX=A[[<]*DG?3?M,`><C3?)DPPE;:
M9<KWSUQG'XT`=-D?Y%&?:N(FFG&GW#:G+<1W(T]#;89E8MM.[IWSC-6[,W$F
ML#?-'',MP"-\KAWBV]`N,$$<YSU]Z`.L.!VHR!VKE],!M?[,NG>8>9;S-<%F
M9LXP1D'\:L&>&;5IWGD<%EC:Q#%E5@5SP.A.[KGG%`'0`@XHS[5PB27'V*'R
MI;HWIL[@WP+-E6V'&X=FW=/:K<]L\<%XZ/=;H]/BF3]Z_P#K3NRW7KP*`.QH
MI!TI:`"BBB@`HHHH`****`"BBB@!3TI*4]*2@!DL231M'(@=&&&5AD$4RVM+
M>S@6"VA2&)?NI&H51]`*FHHOT%97N'I7+W5@NJV7B2$C+/-M3O\`,D:$?K73
ML0H))P!R3Z5SWA"Z%Y9ZA<@Y\R^E8?3C'Z8H&9?PWU`SZ7<6+GFWDW(">=K?
M_7S^=:FN1OJFK:=I)/\`HYS<W(_O*I&U3Z`M_*N7FQX8^)`DX2TNSDD\*`_7
M\F!KL-!(O9+S5^UT^R'/_/).%/XG<?QH`Y2W`L_BU*B\";=G_@4>[^==7K^K
M2:>EI;6X'VF]G$$;$9V9ZMCOC_"N5U?%O\4[&3IYGE_J"M6_%]W]B\6Z!<2\
M0HQR3T'S#)_*@#;N/"&CWBL;FW:69OO3/(Q<GUSFN<T"YO?#_BYM`GG>6SDS
MY/F$\<94C/Y'%>@*05!!R#7):_:?:_&NA"/[\8>23'9%((S^.:`,WQ7`EAXF
MT2ZFNYI(WGW.)I`50!EZ#@#K2^(M%DU?P\^MSRW#7`02PVP^ZBD\*%QG.#R?
M6K'C:U2^UWP_:R<I+*RM],IFNV``4`<`4`<!X_L=FA6UT9YRQD1/*+_(!M/\
M/KQ76ZU=2V/A^\N+?_6Q0EDXS@XZ_A6#\2?^1;A_Z^5_]!:NHN9X+:T+W+*(
M3A#N&0=QP!^.:`./T33-+\1^%FDN(DEOV#B:<G,H?)P<]<=.*TK*^ET/P)!<
M3QGSXH<".3@ELX`YK-U?PA+ID[ZOX?G>":/YS;CD-Z@?X'-9.OZ_-K7A/3[Y
MHA&8[W;(%SM+!<@^W6@#LSX:LK^%7U5#>7)7YGD8@*>X4#&!7(W*S^!O$4`M
M)7?3;L\QR=`,\\^HSUKT2UN8KRUBN(7#1R*&4@]0:Y3XA6_VNPT^",9GDNPB
M`#)Y4Y_I0!6^(MH1I,=S]HN"3.J>47^0`@]OPK0LK7_A)=/473M_9L:B)(8V
M*^:5&"Q(ZC/``J#XCC'AJ+_KY3_T%JZ32;9;/1[.W0<1PJ/QP,T`<=X,C%AX
MKUG3(7?[-%DHC'.,-@'\C5.^NGO/C586LK$Q6D9\M3T!,18G\\?D*O\`AK_D
MH&O_`$?_`-#%<WXSDE\.?$VSUQHV-N^QMP'!`&QP/?';WKKPBYI2CU:=CCQK
M<8QET35SUX4$9ZU!97MO?VD=U:RK+#(NY74Y!J9W5$+L0JCDDG@5R6L==U:Y
MA^*-:?1=/B%N%-W=3+;VX;G#,<9QU.*BN/!.BW\9;48)+V=A\T\TK%_PP<#Z
M#BN4\?ZM`-7\+:G#,DME%<LY=>5.UTSS^!_*O2HY%DC5T(96&01T(KHDI4X1
ME'2]SFC*-6I.,M;6/*])GO?!'CR/0GGDETN[<"(2'A0W0C/&0>#CK]:V-#N1
MXUUS5TU%1)IMC($@MOX&)+#<W]XX7OQS3O'-B=0\3^%X(%W3BX=SCJ(U*,2?
M;BFVGAS4O!VK7^IZ=-9SZ=<9>6*YD,1C&2<[L$<9-=,I0G#GVFU^OZG,HSA-
MQW@G^GZ&3XVTJ'POJFEWV@^;8R74IBE2V.`W(QQT[GM76Z]J5SX8\/R7`O7N
M;F61(H6N@@"ECC)VJN0.3^%5M)MI_%5[9:_J,4<5M;%FLK=&W;B>/,8D#T&!
M@51^)MT;!=!NV3?!!?"208SG&"!^6:A7J2A2EJU>_P#D6_W<)U8Z)[?YEJ;2
M_"5[:LNH7=A<W4J_O+I[E3*6]0<\>P'%4?A]J,TLNK^'I+UIX[-B+:X5@3Y>
M2.#W[$?6NWMH[*ZMXYX8H'CE4.K*@P0>AH6:RM[U+93"ES(I*HH`8J.I^E8^
MU7*X-7_0V]C[T9II?J>5ZC*/#OQ4\\23W1CMB8Q/)O=F:,@*"?4GI[\5N^+_
M``G!-X:O=5U*XFN=2AA,BR;L(G0[57H%_6JM]:)>?&VU2096.(2X]U0D?KBN
MO\:?\B7JP_Z=VKIE4:G2MNTCFA33A5OLFR'P#>3WW@G3I[AR\FUDW'J0KE1^
M@%=+7%^`$$GPWM$)896;E6((_>/W%;/AR+SO#%F999I&FA!D=Y6+$D<\YR*X
MJVE27JSMH.]*+\D;=%87A5"_A^*226:1Y2^YI)68\,PZD\=*Y^QCNKJPN5L[
MR^_M&._98V>60H$#8YR=I`&?QK,V.]HI!G'/6EH`****`"BBB@`HHHH`****
M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@"C=_\`
M(0L/^NC?^@&KU4;H_P#$RL1_M.?_`!T_XU>IO9$K=A28I:*10F*,"EHH`3%&
M*6B@!,48%+10`F,48I:*`$P*7%%%`%&]T[[<&1[J=(77;)$C*`X[Y.,C/L:N
M*BJ!M&,#`IU%`"8%&T>E+10`F*7%%%`!THHHH`****`"BBB@`HHHH`****`%
M/2DI3TI*`"BBB@#-UNSO=0TV2ULKB.!I1M=W4G"GKC'>LGPQX<U'P\7A-Y!-
M:R-O9-A#`XQD'/TKJ**`.<\5^&1XACM2C!)H9`"Q[QD_,/TS6]!`MM;I!"H5
M(U"J,=`*EHH`XO5/"6KZGK46J-?VD<T.WRU6-L#:<CJ>>:UM7\/'Q!I:P:B\
M:7*,6CEA!PIZ=#_*MZB@#EM+T[Q3IENMI]JTZ>!!M1Y0Y8#\,?S_`!K8T[2A
M9W$]W-,T]Y/CS)",``=%4=A[5HT4`<IK/AW5]6U:VO1?VT(M6W0((V..<\\\
MG@5T-F+U8\7K0,XZ&%2`?S-6J,T`<SXG\/ZEXA1;=;NWAM4?>HV$L3C')S[F
MK%[HVH:EX;ETV[NX?M!VA9XT('RD')!/7BMZB@#"AM_$)L?LEQ)8[BNPW*LQ
M;'3.W`Y_&GKX9L%\/-HP5OL[+RQ/S;O[WUS6U10!QND>'_$7A_?!8WMC<6C-
MN"W`<%3[8Z?G6]:Z7+]N%_?SK/<JA6,(NU(@>NT$DY.!R:U**`.:\3Z!J'B"
M);9;JWAMD<.`4)8G&.3^)K7TR"^M[-(;V6&1D4*K1*1D`8R<]ZO44`<I8^&]
M4T_Q%=ZK%=VK?:2V^-D;&"<^O6M7Q!H%IXCTM[&\!`)#)(OWD8=Q6M13C)Q=
MUN*45).+V/,;'P%XL\/W##0]>@6W8Y*R@@'ZI@C/O6_!X3U*_>-_$FM27J*<
M_98%$4)_W@/O?C77T5M/$SEJ[7[VU.>&$IPVO;M?0Q/$7AJT\1Z0;"<>7M.8
MI$`S&PZ$>WM6!H>@^,/#UN+&WOM,NK-3\AN/,W(/08[>V:[JBIC6DH\FZ+E0
MA*7/L_(Y^*QAT1KK7-6O1+<F,"29AM2-!_"B\X&?<DU2^V7OC#2I8[>P2WTV
MY0J)KMCND4]U1?SR6K4\3Z$OB/0YM.,QB+E65P,X8'(R/2LS2)?$FDV,-C>:
M,EWY""-9[6X0;E`P,J^W%7&SCS7]XSDG&7+]G]3`B\$^)?#(,_A[6EF`'S6T
MR;5?Z#)&?R^M:.E72_$/PS>V&JVQM[B"7RY&CZ!Q@AEST^G^-;L\FNW\#106
MD>G%ACSYI!(R>ZJO!/U/YU:T+1;?0M-6T@+.<EY)7^]*YZL?>KG7;C>?Q=&1
M"@E*T/AZI['':5X2\8Z)FRL->M1I^X[3)&69`>X4CCZ9Q75:5H1TFVG9;AKK
M4)\M)=7')<XX''11Z"MH45C4K2GN;4\/"GM^>QP9\(:^?%P\1_VE8?:0-OE^
M4^S;MVXZYZ5TFO:;=:OX?N=/CEBCEN(]C.P)49ZX[UL442K2DXM]-AQH0BFE
MUW.7\+Z!JN@:,VES75K/`JOY1565@6)///3DU?L-.U"RLK"T$L/E6R;7*D@R
M84@=N!D@_A6S143DY/F9<(*$5%;&%9:5J-EIMK8I/"$BEWR.I(9AN+8'IUP?
M:K&AZ;<:9#<1SR1OYL[S`IGC<<XYK5HJ2PHHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@"A=?\A6
MP^LG_H-7ZH77_(5L/K)_Z#5^F]D2MV%%%8&L^)1878L;*W-W>E=Q0-A8QZN>
MPI%&_FC/U_*O*+;Q1?SWK7^HZG*MI#)E8+;Y?-/90/[OJ3_6M;P]K^M>(_$@
ME#"&P@!:2(#Y<=@3W/\`@:`/0:8DJ2)O1@R\\@^E5]0DD6R80;S))\BLB[BF
M>-V/;K6.L5S:+)8I'<*B7221R1(<%&.6'X'=^8H`Z!Y4CC:1V"HHRS'H!0DJ
M2QK(C!D895E.0169Y<QT*^B9)6DS.J!LEB"6VXSR>"*H1Q78A7"7:>7;6^(P
MK`;@WS?CC'%`&_)=0Q311.X#RDB,?WL#)_2I<BN;NUOYKV%XK6;SX99P')(7
M!1@A'.,<KSZYIMU+(OV"4->QI+>*KQL"#CRWR`HYQD#\LB@#ILBC-<]!#>Q3
M>1,;HQNQ:!E^8H-Y.UCVXV]>HH07\<0DC%S)(8[@*'SP=P*#GVS@F@#=2XB>
M:2%7S)&`64=LYQ_(U)D5SK?:8[N6YBM+H02"(MU9RN'_`(<YSDKD"HYX;Y;B
M?8U\R1P0%,[N6#DMT[[<9%`'3!@<X.2.#48NH#"TPF0Q+G<^X8&.N3[8JE8`
MQ/?,T4V#*7&03N&!T%9(M+B:SNX&M94ANX//<,O*R8PRX]R%/YT`=,LB.@=6
M!4C((.0:7(]:Y[3VO)5@6ZBO(W6-&&U2!@*`P)]=P;CW&*J6UOJ0LHS*U]YO
MV$$CYN90W\_YT`=1%<PSAS$X8(Q1L=CZ5)D5S;6UY++>&U%Q'.+DR1LV40KM
M`QZ-DCWITBW,R6KHM^@>Y3S%*L-J@'=P#T/`S^(H`Z.BF1H(XU0$D*`,DY-/
MH`****`"BBB@`HHHH`4]*2E/2DH`****`*MS=&.X@MHPIEFW$;NBA<9/Z@?C
M41N9[5W%T4D5B!"(QAF.#D8)]NM1:MIUS=-;W%E.L%U`QVLPR"I^\I^N!S@]
M*JW.DZC<FWNGN8C<PN<*5RNPC#+G'?@YQVH`D_X2C3MNX&=OW?FX6%B<9(/'
MJ"#GZ5#'XBCN9K8#SH0]Q+%M:V<[PF[OQ@_+GOZ5-:Z5<1:M'>2R1.%MS"<+
MM/+;L@8_"H/[$O$N+6198BMO=S3@$GD/NXZ?[7Z4`1V.O-=7%K*\S10W"NXB
M:V88"@D_.>.F.F:U4U>V9I$^=70*VQEY8,<#'KR#62WAVZ>QL+:26'%O%+&S
M#/(=2N1QVS3Y-%U.5+65KJW%S;2*Z[4`#X!!SQQD'T.*`+6B:A<ZA)J0F^7R
M+@Q1@IM*C:#R,^IJC#XDF%K;W<RQ2PDR_:%A0EH53/S=3Z?K6CI.FW-A+?R3
M3+*;F;S5ZC!V@'/Y5%!HTR>&[C37>(2R1N@=>GS9Z\>]`#=5UH1Q3PVSF.XA
M,+.7CXV.X7C/'K^5-N=>CED6WM'>.59XE<21D;HW8#*Y[>]5KKP_?W$UU*UQ
M"QGCA0JV<#8^['3ICVJY<Z/<7,J71:+[2'BYYPJ(V[`X[GVH`LP:M$R/\SRO
MYKJL:Q%6PIYX)[>M68KZ&;3Q>H6\DIY@)&#C&>E8R:+J,.HF^@N8D9FD#)R0
M5=@PY(Z@^W/K6G=6ES-910"5'.]3*S#;O4')&`#C-`$.G:LTUG/)=Q>3-#.8
MGC'."<%1[DAE_&IUU:)F:,0S^<K%3%L^;@`D^F,$<Y[UFWNA71OY9K">.&-Q
M&^P@G]ZAX;OU7Y:FDT[5?M<5XEW$)`K))&1QM.",''8Y[<YH`LRZW:Q6JW+"
M4P%59G5"1&#R-W<=>?2F_P!O6>Q'Q+M>Y^R@^6?]9G'/MGO4/]E7BO>1&=)+
M>[4;RPP5;:%8@8YR`.,C%4Y/#]Z24CN(EB6_%W&.>F[.#Q]?7K0!HIX@L7DC
M0&7+S&#_`%9^5P2,'TS@XIMKK\-Q:F8PS!M\@$8C;)"DC/('8?TJL-"N1`%#
MPB3^T#>9!//S$XZ=>0/PIO\`8E^0L?VJ+R,S90IG[[;@>G/<8_&@"T_B6P7.
M/.8B!;C"Q$DH>01Z\=?2HX_$MN^HRV_EN(DBB=9-I^<R'"CI@=N_.?:JUMX?
MNXE?S9H6)T\60(SP1GGITY_2B+0+R.4DO;R1O;P0R1L,A]F<@Y'0@T`:D^M6
M=II;ZA=NUO;QDAS(N"I#;<8^M0WNJA=+M]0LI87AEDB"NPR"KL%SU'3.:DBT
M>!]*;3[Q$N+=B28Y"7`&[(&3R<<4V_TMI--@L[%8H4ADB95QA0$8,``![4]+
M>9.O-Y$5KKG[\PW)1Q)<&&"6!25?Y0?PQR.O8U*/$%FT;.HF)5Y$*;/FRGWN
M/;-5+G09Y+F.\ADB2X%T)WXX("%,=.O/7%0P^';E(IXI9(9EDEEE5CD-&[$$
M.#C.1SP".M(HMPZ_;+-,)9F*_:?(3,#+L.W=@D]>._%6H=9MKB$O&LI8.R&,
MKM<%>O!_SS69'H%VERTCR02*;X7>&)[)MQTZ]Z4Z'>Q7CW4$L!+7$DFUN0R/
MMXZ'!!4'.*`-`:_8$*RNS(4\QG`X0;2W/IPIJ9=4MVLKB[;>D,`)<LO8*&R/
M48(K*ET6^>1Y1<PK,!B*81X(79@HR@8*[N><_2KUII*1V-S:S*OD3Y!@5CM0
M%0"!TP#R>,=:`)$FO)K:&YC,*H^US&X.0AQGG/7'M4,WB&R@8"3SE5HVE1O+
M)$B@9.TCVYQZ56M=)U1+0V$]\CVH4QA@OS%,8"D8XX[Y)I#H]]/I:6EU/%(\
M4;(DF"-Q*E03QQ@-[T`6T\0V$C,H9QB$3@LA`9<XX/?D@4^#6K>>5HECG614
M=RK1D'"G!_4BL]]"N?,MG0V^V*S%J\9&58!@3VZ$`CIWIT.B7=O.KPW"JNV2
M/#,S&-68$`9ZXQCMUH`=<:X8L7L8+VAL'N5CV$,Q&W&3SC@^E6GUVTC2,N)<
MN8U;]V1L+G"YSR.:H+H5Z+)+9IHB%T]K/.3U(`!Z=.!45UH&IW;LTMW"V)HI
M8\KC:%(.WI['GO0!I?\`"16&]4_>Y:?[/S&?E?..?3)J*#Q);R6TDSPS`I)(
MH18SDJA()&<9Z9..F<56.@77V=U\R'S&U`7FX9Y`.<=.O%/?1+IX&@=XC'YD
MSQ]0R,[EE<'&01DC&>:`-]&#HKCHPR*=3(D9(41F+,J@%CW]Z?0`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`%"Z_Y"MA]9/_0:OU5G@>2^MIAC;%NW?B,"K5/HA+=A7!>*]%;2/#+I
MIJR.9[C==.`3)(#G`)';)'%=[12&>.RZ!+I&G6TES&C7^H'R[>%AQ$.,LV>_
M(^F:ZCPQ<QSM)HVEJ$M8(6\ZZV\RR'(W#VST[X%;/BSPVWB*UMTBF2*6%RP9
MESP1R/Y?E6AHVC6NB6"VULB@]9'&<NW<\DT`3V%J+#3X8&F>0QH`TDAR6/<G
M-.DNT7RPH\PR'"["#D=S]!FFW\4TL*&#;O217VL<!@#R.AJI#IK1ZA'<"*)5
MWR.R@GY2P4<<?[)/;K0!;N;^*TN+:&0-FX;8A`X!QW]*$OX7OY;-=QDA17<X
MP`&SC^1JEJNGW5]<YC:-8EMW5"2<K+N5E;&.Q4=ZJS:5J!O$N8Y(MQ@59<L1
MO<2!_3I@%?QZ4`;OGQ%`PD0J<\[ACCWJ!_L\[AYXH\Q2?NVDVG#>H/8\D>M4
M'T@R:E#<-!#L\QGD3)[H%],'I33I4[&<JD2%Y)&C97/R[MO5<8;[IX-`&R94
M#,N]<J,D9Z#^E"R(^[:RL5X.#T-8+Z-<S6*PS^4T\44L8D!/[S<I`W8''KWY
M'XUHV-G):WMY*418YBA0*>1A<'/%`$]O?0W,)E7**&9?GP/ND@]_4&G+=PO<
MR0!QOC19&'8*V<<_@:S;;3)4>W,T<1$33L?F)^^^X=O>JD6BWD#^:@A+_9[>
M,_.1N,9.1G'`.>OM0!T/G1X!WI@]/F'-`E1C@,I.,X!R:S(].)O8)9((0B))
MD;B2&9E;TYZ'GWJHVCW*R)+$L`81W",I8\F1PP[=,`CVS0!MFYB4IEU^=BBX
M.><$X_(&A+A6C#MB/<2H#,.3G'8UEIILXN%D9(CMN_.`+$X4Q;",D=<U%%I5
MTL4T$JPM#-&R%=Q_=DNYR..>&'ITH`W!+'N"[UW$XQGFH;F\2WCWXWX=5(0@
MD9('/YUE2Z1<&Z2>-849;SS\[C]WRMGIUSS2QZ9>!),K"I9(!M$AP"CDMCCO
M0!NT444`%%%%`!1110`4444`.HP***`#`HP***`$P*,#TI:*`$P*,"EHH`3`
MHP*6B@!,"EP***`$P/2C`]*6B@!,#TI<"BB@!,"C`I:*`$P/2C`I:*`$P*,"
MEHH`3`HP/2EHH`3`HP*6B@!,"C`]*6B@`P*3`I:*`$P*,"EHH`3`HP*6B@!,
M"C`I:*`$P/2C`]*6B@!,"C`I:*`#`HP***`#`HP***`#`HP***`#`HP***`#
M`HP***`#`HP***`#`HP***`#`HP***`#`HP***`#`HP***`#`HP***`#`HP*
M**`#`HP***`#`HP***`#`HP***`$P/2EP***`#`HP***`$P*7`HHH`3`HP/2
MEHH`3`HP/2EHH`3`]*,#TI:*`$P/2C`]*6B@!,#THP*6B@!,"C`]*6B@!,"C
M`]*6B@!,"C`I:*`#`HP***`#`HP***`#`HP***`#`HHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@
M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH
,H`****`"BBB@#__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>20
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	word-wrap: break-word;
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>R25.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>FAIR VALUE OF FINANCIAL INSTRUMENTS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">FAIR VALUE OF FINANCIAL INSTRUMENTS</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 19 &#x2013; FAIR VALUE OF FINANCIAL INSTRUMENTS</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The carrying values of financial instruments, which consist of
cash, accounts receivable and accounts payable and other payables,
approximate their fair values due to the short-term nature of these
instruments.&#xA0;&#xA0;There were no material unrecognized
financial assets and liabilities as of December 31, 2011 and
2010.</p>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueDisclosuresTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6925170&amp;loc=d3e19296-110258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 159<br><br> -Paragraph 17-22, 27, 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13433-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15C, 15D<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13504-108611<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15A<br><br> -Subparagraph a-d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13537-108611<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 44A, 44B<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6925170&amp;loc=d3e19207-110258<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 30<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14172-108612<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 3, 10, 14, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15B<br><br> -Subparagraph a, b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 157<br><br> -Paragraph 32, 33, 34<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueDisclosuresTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>22
<FILENAME>R9.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INVENTORIES<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureTextBlock', window );">INVENTORIES</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 3 &#x2013; INVENTORIES</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Inventories consist of:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6">As&#xA0;of&#xA0;December&#xA0;31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 74%">Raw materials</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">848,596</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">769,817</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Finished goods</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">3,604,247</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,916,775</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Allowance for
obsolete and slow-moving inventories</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(14,871</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(6,693</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt"></td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
4,437,972</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
2,679,899</td>
</tr>
</table>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Chapter 3<br><br> -Section A<br><br> -Paragraph 9<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a, b, c<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>23
<FILENAME>Financial_Report.xls
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xls
M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O
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M<B!E9&ET;W(@9&]E<VXG="!S=7!P;W)T(%=E8B!!<F-H:79E(&9I;&5S+B`@
M4&QE87-E(&1O=VYL;V%D(&$@8G)O=W-E<B!T:&%T('-U<'!O<G1S(%=E8B!!
M<F-H:79E+"!S=6-H(&%S($UI8W)O<V]F="!);G1E<FYE="!%>'!L;W)E<BX-
M"@T*+2TM+2TM/5].97AT4&%R=%\T,#4R8S$S,E\X8S-B7S0P93E?.&$S-%]C
M8C<U-CDP8S1B9F8-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-#`U
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M;V9T+6-O;3IO9F9I8V4Z97AC96PB('AM;&YS/3-$(FAT='`Z+R]W=W<N=S,N
M;W)G+U12+U)%0RUH=&UL-#`B/@T*/&AE860^#0H\;65T82!N86UE/3-$(D5X
M8V5L(%=O<FMB;V]K($9R86UE<V5T(CX-"@T*/&UE=&$@;F%M93TS1%!R;V=)
M9"!C;VYT96YT/3-$17AC96PN4VAE970^#0H\;&EN:R!R96P],T1&:6QE+4QI
M<W0@:')E9CTS1")7;W)K<VAE971S+V9I;&5L:7-T+GAM;"(^#0H-"CPA+2U;
M:68@9W1E(&US;R`Y73X\>&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX
M.D5X8V5L5V]R:W-H965T<SX-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@
M(#QX.DYA;64^1&]C=6UE;G1?86YD7T5N=&ET>5]);F9O<FUA=&EO/"]X.DYA
M;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T
M<R]3:&5E=#`Q+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@
M(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^0T].4T],241!5$5$
M7T)!3$%.0T5?4TA%1513/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U
M<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#`R+FAT;6PB+SX-"B`@(#PO
M>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@
M(#QX.DYA;64^0T].4T],241!5$5$7T)!3$%.0T5?4TA%15137U!A/"]X.DYA
M;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T
M<R]3:&5E=#`S+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@
M(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^0T].4T],241!5$5$
M7U-4051%345.5%-?3T9?24Y#/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T
M4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#`T+FAT;6PB+SX-"B`@
M(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*
M("`@(#QX.DYA;64^0T].4T],241!5$5$7U-4051%345.5%-?3T9?4U1//"]X
M.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H
M965T<R]3:&5E=#`U+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-
M"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^0T].4T],241!
M5$5$7U-4051%345.5%-?3T9?0T%3/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H
M965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#`V+FAT;6PB+SX-
M"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T
M/@T*("`@(#QX.DYA;64^3D%455)%7T]&7T)54TE.15-37T%.1%]354U-05)9
M/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R
M:W-H965T<R]3:&5E=#`W+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E
M=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^05-31513
M7T%#455)4TE424].4SPO>#I.86UE/@T*("`@(#QX.E=O<FMS:&5E=%-O=7)C
M92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE970P."YH=&UL(B\^#0H@("`\+W@Z
M17AC96Q7;W)K<VAE970^#0H@("`\>#I%>&-E;%=O<FMS:&5E=#X-"B`@("`\
M>#I.86UE/DE.5D5.5$]22453/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T
M4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#`Y+FAT;6PB+SX-"B`@
M(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*
M("`@(#QX.DYA;64^4%)%4$%)1%],04Y$7TQ%05-%/"]X.DYA;64^#0H@("`@
M/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#$P
M+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L
M5V]R:W-H965T/@T*("`@(#QX.DYA;64^4%)/4$525%E?4$Q!3E1?04Y$7T51
M54E0345.5%]./"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2
M968],T0B5V]R:W-H965T<R]3:&5E=#$Q+FAT;6PB+SX-"B`@(#PO>#I%>&-E
M;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA
M;64^4%)/4$525%E?4$Q!3E1?04Y$7T5154E0345.5%]5/"]X.DYA;64^#0H@
M("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E
M=#$R+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X
M8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^04-#3U5.5%-?4$%904),15]!
M3D1?04-#4E5%1%]%/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E
M($A2968],T0B5V]R:W-H965T<R]3:&5E=#$S+FAT;6PB+SX-"B`@(#PO>#I%
M>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX
M.DYA;64^1%5%7U1/7T%?4D5,051%1%]005)465]!3D1?4D5,/"]X.DYA;64^
M#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3
M:&5E=#$T+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX
M.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^5$%815-?4$%904),13PO
M>#I.86UE/@T*("`@(#QX.E=O<FMS:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS
M:&5E=',O4VAE970Q-2YH=&UL(B\^#0H@("`\+W@Z17AC96Q7;W)K<VAE970^
M#0H@("`\>#I%>&-E;%=O<FMS:&5E=#X-"B`@("`\>#I.86UE/D-!4$E404Q?
M3$5!4T5?3T),24=!5$E/3E,\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE9713
M;W5R8V4@2%)E9CTS1")7;W)K<VAE971S+U-H965T,38N:'1M;"(O/@T*("`@
M/"]X.D5X8V5L5V]R:W-H965T/@T*("`@/'@Z17AC96Q7;W)K<VAE970^#0H@
M("`@/'@Z3F%M93Y2151!24Y%1%]%05).24Y'4U]!4%!23U!224%4140\+W@Z
M3F%M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@2%)E9CTS1")7;W)K<VAE
M971S+U-H965T,3<N:'1M;"(O/@T*("`@/"]X.D5X8V5L5V]R:W-H965T/@T*
M("`@/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M93Y#3TU-3TY?4U1/
M0TL\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@2%)E9CTS1")7
M;W)K<VAE971S+U-H965T,3@N:'1M;"(O/@T*("`@/"]X.D5X8V5L5V]R:W-H
M965T/@T*("`@/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M93Y44D5!
M4U5265]35$]#2SPO>#I.86UE/@T*("`@(#QX.E=O<FMS:&5E=%-O=7)C92!(
M4F5F/3-$(E=O<FMS:&5E=',O4VAE970Q.2YH=&UL(B\^#0H@("`\+W@Z17AC
M96Q7;W)K<VAE970^#0H@("`\>#I%>&-E;%=O<FMS:&5E=#X-"B`@("`\>#I.
M86UE/E-43T-+0D%3141?0T]-4$5.4T%424]./"]X.DYA;64^#0H@("`@/'@Z
M5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#(P+FAT
M;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R
M:W-H965T/@T*("`@(#QX.DYA;64^24Y#3TU%7U1!6$53/"]X.DYA;64^#0H@
M("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E
M=#(Q+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X
M8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^0E5324Y%4U-?4T5'345.5%,\
M+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@2%)E9CTS1")7;W)K
M<VAE971S+U-H965T,C(N:'1M;"(O/@T*("`@/"]X.D5X8V5L5V]R:W-H965T
M/@T*("`@/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M93Y-04I/4E]3
M55!03$E%4E,\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@2%)E
M9CTS1")7;W)K<VAE971S+U-H965T,C,N:'1M;"(O/@T*("`@/"]X.D5X8V5L
M5V]R:W-H965T/@T*("`@/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M
M93Y#55-43TU%4E]#3TY#14Y44D%424]./"]X.DYA;64^#0H@("`@/'@Z5V]R
M:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#(T+FAT;6PB
M+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H
M965T/@T*("`@(#QX.DYA;64^1D%)4E]604Q515]/1E]&24Y!3D-)04Q?24Y3
M5%)5/"]X.DYA;64^#0H@("`@/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B
M5V]R:W-H965T<R]3:&5E=#(U+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS
M:&5E=#X-"B`@(#QX.D5X8V5L5V]R:W-H965T/@T*("`@(#QX.DYA;64^4D53
M14%20TA?04Y$7T1%5D5,3U!-14Y47T584$5./"]X.DYA;64^#0H@("`@/'@Z
M5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#(V+FAT
M;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L5V]R
M:W-H965T/@T*("`@(#QX.DYA;64^4D5615)315]35$]#2U]34$Q)5#PO>#I.
M86UE/@T*("`@(#QX.E=O<FMS:&5E=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E
M=',O4VAE970R-RYH=&UL(B\^#0H@("`\+W@Z17AC96Q7;W)K<VAE970^#0H@
M("`\>#I%>&-E;%=O<FMS:&5E=#X-"B`@("`\>#I.86UE/D-!4$E404Q?0T]-
M34E4345.5%]!3D1?3U!%4D%423PO>#I.86UE/@T*("`@(#QX.E=O<FMS:&5E
M=%-O=7)C92!(4F5F/3-$(E=O<FMS:&5E=',O4VAE970R."YH=&UL(B\^#0H@
M("`\+W@Z17AC96Q7;W)K<VAE970^#0H@("`\>#I%>&-E;%=O<FMS:&5E=#X-
M"B`@("`\>#I.86UE/DQ%1T%,7U!23T-%141)3D=3/"]X.DYA;64^#0H@("`@
M/'@Z5V]R:W-H965T4V]U<F-E($A2968],T0B5V]R:W-H965T<R]3:&5E=#(Y
M+FAT;6PB+SX-"B`@(#PO>#I%>&-E;%=O<FMS:&5E=#X-"B`@(#QX.D5X8V5L
M5V]R:W-H965T/@T*("`@(#QX.DYA;64^4U5"4T51545.5%]%5D5.5%,\+W@Z
M3F%M93X-"B`@("`\>#I7;W)K<VAE9713;W5R8V4@2%)E9CTS1")7;W)K<VAE
M971S+U-H965T,S`N:'1M;"(O/@T*("`@/"]X.D5X8V5L5V]R:W-H965T/@T*
M("`@/'@Z17AC96Q7;W)K<VAE970^#0H@("`@/'@Z3F%M93Y005)%3E1?3TY,
M65]&24Y!3D-)04Q?24Y&3U)-050\+W@Z3F%M93X-"B`@("`\>#I7;W)K<VAE
M9713;W5R8V4@2%)E9CTS1")7;W)K<VAE971S+U-H965T,S$N:'1M;"(O/@T*
M("`@/"]X.D5X8V5L5V]R:W-H965T/@T*("`\+W@Z17AC96Q7;W)K<VAE971S
M/@T*("`\>#I3='EL97-H965T($A2968],T0B5V]R:W-H965T<R]R97!O<G0N
M8W-S(B\^#0H@(#QX.D%C=&EV95-H965T/C`\+W@Z06-T:79E4VAE970^#0H@
M(#QX.E!R;W1E8W13=')U8W1U<F4^1F%L<V4\+W@Z4')O=&5C=%-T<G5C='5R
M93X-"B`@/'@Z4')O=&5C=%=I;F1O=W,^1F%L<V4\+W@Z4')O=&5C=%=I;F1O
M=W,^#0H@/"]X.D5X8V5L5V]R:V)O;VL^#0H\+WAM;#X\(5ME;F1I9ETM+3X-
M"CPO:&5A9#X-"B`@/&)O9'D^#0H@("`\<#Y4:&ES('!A9V4@<VAO=6QD(&)E
M(&]P96YE9"!W:71H($UI8W)O<V]F="!%>&-E;"!84"!O<B!N97=E<BX\+W`^
M#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\T,#4R
M8S$S,E\X8S-B7S0P93E?.&$S-%]C8C<U-CDP8S1B9F8-"D-O;G1E;G0M3&]C
M871I;VXZ(&9I;&4Z+R\O0SHO-#`U,F,Q,S)?.&,S8E\T,&4Y7SAA,S1?8V(W
M-38Y,&,T8F9F+U=O<FMS:&5E=',O4VAE970P,2YH=&UL#0I#;VYT96YT+51R
M86YS9F5R+45N8V]D:6YG.B!Q=6]T960M<')I;G1A8FQE#0I#;VYT96YT+51Y
M<&4Z('1E>'0O:'1M;#L@8VAA<G-E=#TB=7,M87-C:6DB#0H-"CQH=&UL/@T*
M("`\:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV/3-$0V]N=&5N="U4>7!E
M(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T/75T9BTX)SX\<V-R:7!T
M('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$4VAO=RYJ<SXO*B!$;R!.
M;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R:7!T/CPO:&5A9#X-"B`@
M/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P;W)T(&ED/3-$240P1595
M044^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P
M86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^1&]C=6UE;G0@86YD($5N=&ET
M>2!);F9O<FUA=&EO;B`H55-$("0I/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@
M("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q/C$R($UO;G1H<R!%;F1E
M9#PO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q/CPO
M=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q/CPO=&@^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,]
M,T1T:#Y$96,N(#,Q+"`R,#$Q/&)R/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1H/DUA<BX@,#DL(#(P,3(\8G(^/"]T:#X-"B`@("`@("`@/'1H(&-L
M87-S/3-$=&@^2G5N+B`S,"P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^/'-T<F]N9SY$;V-U;65N="!);F9O<FUA=&EO;B!;
M3&EN92!)=&5M<UT\+W-T<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^1&]C=6UE;G0@5'EP93PO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^,3`M2SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^06UE;F1M96YT($9L86<\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/F9A;'-E/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y$;V-U;65N="!097)I;V0@16YD($1A
M=&4\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/D1E8R`S,2P-"@D)
M,C`Q,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^1&]C=6UE;G0@1FES8V%L(%EE87(@1F]C=7,\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/C(P,3$\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D1O8W5M96YT($9I<V-A;"!097)I
M;V0@1F]C=7,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/D99/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S
M/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y4
M<F%D:6YG(%-Y;6)O;#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M1U5213QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^16YT:71Y(%)E9VES=')A;G0@3F%M93PO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^1U5,1B!215-/55)#15,L($E.0RX\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D5N=&ET>2!#
M96YT<F%L($EN9&5X($ME>3PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^,#`P,#@X-30V,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^0W5R<F5N="!&:7-C86P@665A<B!%;F0@1&%T93PO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^+2TQ,BTS,3QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^16YT:71Y
M(%=E;&PM:VYO=VX@4V5A<V]N960@27-S=65R/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#Y.;SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^16YT:71Y($-U<G)E;G0@4F5P;W)T:6YG(%-T
M871U<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^665S/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y%;G1I
M='D@5F]L=6YT87)Y($9I;&5R<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^3F\\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L
M:6=N/3-$=&]P/D5N=&ET>2!&:6QE<B!#871E9V]R>3PO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^06-C96QE<F%T960@1FEL97(\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D5N=&ET>2!#
M;VUM;VX@4W1O8VLL(%-H87)E<R!/=71S=&%N9&EN9SPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^,S0L-38P+#<T,SQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^16YT:71Y(%!U8FQI8R!&
M;&]A=#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`U-2PS.#`L
M,C(U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B
M;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\T
M,#4R8S$S,E\X8S-B7S0P93E?.&$S-%]C8C<U-CDP8S1B9F8-"D-O;G1E;G0M
M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-#`U,F,Q,S)?.&,S8E\T,&4Y7SAA,S1?
M8V(W-38Y,&,T8F9F+U=O<FMS:&5E=',O4VAE970P,BYH=&UL#0I#;VYT96YT
M+51R86YS9F5R+45N8V]D:6YG.B!Q=6]T960M<')I;G1A8FQE#0I#;VYT96YT
M+51Y<&4Z('1E>'0O:'1M;#L@8VAA<G-E=#TB=7,M87-C:6DB#0H-"CQH=&UL
M/@T*("`\:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV/3-$0V]N=&5N="U4
M>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T/75T9BTX)SX\<V-R
M:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$4VAO=RYJ<SXO*B!$
M;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R:7!T/CPO:&5A9#X-
M"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P;W)T(&ED/3-$240P
M14U104<^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O
M;'-P86X],T0Q(')O=W-P86X],T0Q/CQS=')O;F<^0T].4T],241!5$5$($)!
M3$%.0T4@4TA%1513("A54T0@)"D\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@
M("`@/'1H(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@
M("`@("`\=&@@8VQA<W,],T1T:#Y$96,N(#,Q+"`R,#$P/&)R/CPO=&@^#0H@
M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/D-U<G)E;G0@07-S
M971S/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/D-A<V@\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@-S@L-3<V
M+#`V,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/B0@-C@L-#DT+#0X,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^06-C;W5N=',@<F5C96EV86)L93PO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,C$L.3$Y+#@R.#QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C(Q+#4T,BPR,CD\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/DEN=F5N=&]R:65S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XT
M+#0S-RPY-S(\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XR+#8W.2PX.3D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S
M/3-$<&P@=F%L:6=N/3-$=&]P/E!R97!A>6UE;G1S(&%N9"!D97!O<VET<SPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,S`W+#8P,#QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/CDS.2PY-#`\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/E!R97!A:60@;&%N9"!L96%S97,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C0V+#4X,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6UP/C0R+#<V,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^1&5F97)R960@=&%X(&%S<V5T<SPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,C(X+#<P,CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/CDY+#8Y-#QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')O=3X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E1O
M=&%L($-U<G)E;G0@07-S971S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XQ,#4L-3$V+#<T-#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/CDS+#<Y.2PP,#,\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^3F]N+4-U<G)E
M;G0@07-S971S/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/E!R;W!E<G1Y+"!P;&%N="!A;F0@97%U:7!M96YT+"!N970\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$T-RPR,#`L-S0P/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3$R+#$W
M."PY.3D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/E!R;W!E<G1Y+"!P;&%N="!A;F0@97%U:7!M96YT('5N9&5R(&-A
M<&ET86P@;&5A<V5S+"!N970\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C(L,S,V+#DR,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^4')E<&%I9"!L86YD(&QE87-E<RP@;F5T(&]F(&-U
M<G)E;G0@<&]R=&EO;CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M-S8S+#@Q-#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C<T,RPP,C(\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$
M<&P@=F%L:6=N/3-$=&]P/D1E9F5R<F5D('1A>"!A<W-E=',\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C(L-3`Y+#0X,3QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O=3X-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E1O=&%L(&YO;BUC
M=7)R96YT(&%S<V5T<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M,34R+#@Q,"PY-34\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M<#XQ,3(L.3(R+#`R,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E=3X-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E1O=&%L($%S<V5T<SPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,C4X+#,R-RPV.3D\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR,#8L-S(Q+#`R
M-#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^/'-T<F]N9SY#=7)R96YT($QI86)I;&ET:65S/"]S=')O;F<^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%C8V]U;G1S('!A>6%B;&4@
M86YD(&%C8W)U960@97AP96YS97,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C<L,S<S+#8T,SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C8L-#$Y+#<S-3QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4F5T96YT:6]N('!A>6%B;&4\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C4U-BPT-3`\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XT-3,L,#`P
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L
M87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O
M<#Y#87!I=&%L(&QE87-E(&]B;&EG871I;VXL(&-U<G)E;G0@<&]R=&EO;CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3@Y+#<T,CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^5&%X97,@
M<&%Y86)L93PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-"PP-3@L
M-34P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^-RPQ-C,L,#DU/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R(&-L87-S/3-$<F5U/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^5&]T86P@0W5R<F5N="!,:6%B:6QI=&EE<SPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3(L,3<X+#,X-3QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$T+#`S-2PX
M,S`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@
M8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$
M=&]P/CQS=')O;F<^3F]N+4-U<G)E;G0@3&EA8FEL:71I97,\+W-T<F]N9SX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@
M("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^0V%P:71A;"!L96%S
M92!O8FQI9V%T:6]N+"!N970@;V8@8W5R<F5N="!P;W)T:6]N/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M<#XS+#`S-BPU-3@\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;W4^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y4;W1A;"!,:6%B
M:6QI=&EE<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,34L,C$T
M+#DT,SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C$T+#`S-2PX,S`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$
M<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^4W1O8VMH;VQD97)S)R!%<75I='D\
M+W-T<F]N9SX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4%)%
M1D524D5$(%-43T-+.R`D,"XP,#$@<&%R('9A;'5E.R`Q+#`P,"PP,#`@<VAA
M<F5S(&%U=&AO<FEZ960[(&YO;F4@;W5T<W1A;F1I;F<\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/B9N8G-P.R9N8G-P.SQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/B9N8G-P.R9N8G-P.SQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S
M<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^
M0T]-34].(%-43T-+.R`D,"XP,#`U('!A<B!V86QU93L@,3`P+#`P,"PP,#`@
M<VAA<F5S(&%U=&AO<FEZ960[(#,T+#<T-2PS-#(@86YD(#,T+#<S-2PY,3(@
M<VAA<F5S(&ES<W5E9#L@86YD(#,T+#4V,"PW-#,@86YD(#,T+#<S-2PY,3(@
M<VAA<F5S(&]U='-T86YD:6YG(&%S(&]F($1E8V5M8F5R(#,Q+"`R,#$Q(&%N
M9"`R,#$P+"!R97-P96-T:79E;'D\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C$W+#,W,SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6UP/C$W+#,V.#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^5')E87-U<GD@<W1O8VL[(#$X-"PU.3D@
M<VAA<F5S(&%S(&]F($1E8V5M8F5R(#,Q+"`R,#$Q(&%T(&-O<W0\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#4P,"PP,#`I/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y!9&1I=&EO;F%L
M('!A:60M:6X@8V%P:71A;#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^-S0L,3`W+#DW.3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6UP/C8V+#8R-BPU.#0\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E)E=&%I;F5D(&5A<FYI;F=S('5N
M87!P<F]P<FEA=&5D/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ
M,S,L,S$T+#4X,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/C$P-BPU,#`L,#@U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y2971A:6YE9"!E87)N:6YG<R!A<'!R
M;W!R:6%T960\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$T+#0P
M.2PU-3<\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XQ,"PR-S$L,CDS/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y#=6UU;&%T:79E('1R86YS;&%T:6]N(&%D:G5S
M=&UE;G0\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C(Q+#<V,RPR
M-C8\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XY+#(V.2PX-C0\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R974^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L
M('9A;&EG;CTS1'1O<#Y4;W1A;"!3=&]C:VAO;&1E<G,G($5Q=6ET>3PO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,C0S+#$Q,BPW-38\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ.3(L-C@U
M+#$Y-#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')O=3X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/E1O=&%L($QI86)I;&ET:65S(&%N9"!3=&]C:VAO;&1E<G,G($5Q
M=6ET>3PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`R-3@L,S(W
M+#8Y.3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/B0@,C`V+#<R,2PP,C0\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM
M+2T]7TYE>'1087)T7S0P-3)C,3,R7SAC,V)?-#!E.5\X83,T7V-B-S4V.3!C
M-&)F9@T*0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B\T,#4R8S$S,E\X
M8S-B7S0P93E?.&$S-%]C8C<U-CDP8S1B9F8O5V]R:W-H965T<R]3:&5E=#`S
M+FAT;6P-"D-O;G1E;G0M5')A;G-F97(M16YC;V1I;F<Z('%U;W1E9"UP<FEN
M=&%B;&4-"D-O;G1E;G0M5'EP93H@=&5X="]H=&UL.R!C:&%R<V5T/2)U<RUA
M<V-I:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U
M:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S
M970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,]
M,T13:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S
M8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R
M97!O<G0@:60],T1)1#!%0TU!0SX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H
M(&-L87-S/3-$=&P@8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#$^/'-T<F]N9SY#
M3TY33TQ)1$%4140@0D%,04Y#12!32$5%5%,@*%!A<F5N=&AE=&EC86PI("A5
M4T0@)"D\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$
M=&@^1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,]
M,T1T:#Y$96,N(#,Q+"`R,#$P/&)R/CPO=&@^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y04D5&15)2140@4U1/0TLL('!A<B!V86QU93PO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`P+C`P,3QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,"XP,#$\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E!2149%
M4E)%1"!35$]#2RP@<VAA<F5S(&%U=&AO<FEZ960\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C$L,#`P+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$L,#`P+#`P,#QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4%)%1D524D5$
M(%-43T-++"!O=71S=&%N9&EN9SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^)FYB<W`[)FYB<W`[/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^)FYB<W`[)FYB<W`[/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y#3TU-3TX@4U1/0TLL
M('!A<B!V86QU93PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`P
M+C`P,#4\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XD(#`N,#`P-3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^0T]-34].(%-43T-++"!S:&%R97,@875T:&]R:7IE
M9#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3`P+#`P,"PP,#`\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ
M,#`L,#`P+#`P,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^0T]-34].(%-43T-++"!S:&%R97,@:7-S=65D/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XS-"PW-#4L,S0R/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,S0L-S,U+#DQ
M,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^0T]-34].(%-43T-++"!S:&%R97,@;W5T<W1A;F1I;F<\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C,T+#4V,"PW-#,\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XS-"PW,S4L.3$R/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S
M/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y4
M<F5A<W5R>2!S=&]C:RP@<VAA<F5S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XQ.#0L-3DY/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM
M/5].97AT4&%R=%\T,#4R8S$S,E\X8S-B7S0P93E?.&$S-%]C8C<U-CDP8S1B
M9F8-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-#`U,F,Q,S)?.&,S
M8E\T,&4Y7SAA,S1?8V(W-38Y,&,T8F9F+U=O<FMS:&5E=',O4VAE970P-"YH
M=&UL#0I#;VYT96YT+51R86YS9F5R+45N8V]D:6YG.B!Q=6]T960M<')I;G1A
M8FQE#0I#;VYT96YT+51Y<&4Z('1E>'0O:'1M;#L@8VAA<G-E=#TB=7,M87-C
M:6DB#0H-"CQH=&UL/@T*("`\:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV
M/3-$0V]N=&5N="U4>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T
M/75T9BTX)SX\<V-R:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$
M4VAO=RYJ<SXO*B!$;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R
M:7!T/CPO:&5A9#X-"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P
M;W)T(&ED/3-$240P15DQ04<^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C
M;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^0T].
M4T],241!5$5$(%-4051%345.5%,@3T8@24Y#3TU%($%.1"!#3TU04D5(14Y3
M259%($E.0T]-12`H55-$("0I/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@
M(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0S/C$R($UO;G1H<R!%;F1E9#PO
M=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA
M<W,],T1T:#Y$96,N(#,Q+"`R,#$Q/&)R/CPO=&@^#0H@("`@("`@(#QT:"!C
M;&%S<STS1'1H/D1E8RX@,S$L(#(P,3`\8G(^/"]T:#X-"B`@("`@("`@/'1H
M(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`P.3QB<CX\+W1H/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY.150@4D5614Y513PO<W1R;VYG
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@
M("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y.970@<F5V96YU
M93PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`Q-C0L.3@P+#0U
M,SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/B0@,34X+#,S-2PP,C,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XD(#$Q,"PR-S8L.3`X/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/D]015)!5$E.
M1R!%6%!%3E-%4R`O($E.0T]-13PO<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y#;W-T(&]F(&YE="!R979E;G5E/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M/B@X.2PU,S@L,C$R*3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#@P+#(U-"PW-3DI
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH
M-C(L-CDW+#@W,2D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/E-A;&5S+"!M87)K971I;F<@86YD(&]T:&5R(&]P97)A
M=&EN9R!E>'!E;G-E<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH
M.#8L.3,V*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6T^*#$S-BPS-C0I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;3XH,C$L-S$R*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4F5S96%R8V@@86YD(&1E=F5L;W!M
M96YT(&-O<W0\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#,Y."PX
M-#(I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;3XH,BPR,#`L,CDQ*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6T^*#4P,"PT,#8I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y%>'!L;W)A=&EO;B!C;W-T<SPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH-RPP,S0L,34S*3QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^5W)I=&4M
M;V9F("\@26UP86ER;65N="!O;B!P<F]P97)T>2P@<&QA;G0@86YD(&5Q=6EP
M;65N=#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH-RPU-S`L-38V
M*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^1V5N97)A;"!A;F0@861M:6YI<W1R871I=F4@97AP96YS97,\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#$W+#@W-"PR.38I/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH-BPX-S$L,#DQ
M*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^
M*#4L,S0T+#@S,RD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/D]T:&5R(&]P97)A=&EN9R!I;F-O;64\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C$L.#(Q+#`Q,#QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C(R,RPW,34\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M974^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y#;W-T
M<R!A;F0@17AP96YS97,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^
M*#$R,"PV.#$L.3DU*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6T^*#@Y+#(S."PW.3`I/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;3XH-C@L-38T+#@R,BD\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;W4^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y)3D-/344@
M1E)/32!/4$52051)3TY3/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XT-"PR.3@L-#4X/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1&YU;7`^-CDL,#DV+#(S,SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C0Q+#<Q,BPP.#8\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^3U1(
M15(@24Y#3TU%("A%6%!%3E-%4RD\+W-T<F]N9SX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^26YT97)E<W0@97AP96YS93PO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;3XH,C$R+#0T,2D\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q+#`U,BD\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q-RPP-S@I/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S
M/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y)
M;G1E<F5S="!I;F-O;64\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/C(V.2PV,30\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XR-#(L.3@X/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^.#`L.#`U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F]U/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^3F]N;W!E<F%T:6YG($EN8V]M92`H
M17AP96YS92DL(%1O=&%L/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XU-RPQ-S,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XR-#$L.3,V/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^-C,L-S(W/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F5U/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^24Y#3TU%($)%1D]212!405A%4SPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-#0L,S4U+#8S,3QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C8Y+#,S
M."PQ-CD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XT,2PW-S4L.#$S/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y)3D-/344@5$%815,\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6T^*#$S+#0P,BPX-S$I/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,3@L,#4T+#@T.2D\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q,2PQ.#0L
M,SDX*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')E=3X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/DY%5"!)3D-/344\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C,P+#DU,BPW-C`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XU,2PR.#,L,S(P/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,S`L-3DQ+#0Q-3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY#
M3TU04D5(14Y3259%($E.0T]-13H\+W-T<F]N9SX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^3F5T(&EN8V]M93PO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^,S`L.34R+#<V,#QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C4Q+#(X,RPS,C`\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XS,"PU.3$L-#$U
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L
M87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O
M<#X\<W1R;VYG/D]42$52($-/35!214A%3E-)5D4@24Y#3TU%/"]S=')O;F<^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/BT@1F]R96EG;B!C
M=7)R96YC>2!T<F%N<VQA=&EO;B!A9&IU<W1M96YT<SPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^,3(L-#DS+#0P,CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C4L,3$P+#(T.3QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#$X,RPU.34I
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L
M87-S/3-$<F]U/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^0T]-4%)%2$5.4TE612!)3D-/344\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/B0@-#,L-#0V+#$V,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/B0@-38L,SDS+#4V.3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,S`L-#`W+#@R
M,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C
M;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T
M;W`^/'-T<F]N9SY%05).24Y'4R!015(@4TA!4D4\+W-T<F]N9SX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^0D%324,\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6UP/B0@,"XX.3QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,2XT.#QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^1$E,551%1#PO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`P+C@Y/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`Q+C0X/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`Q
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L
M87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O
M<#X\<W1R;VYG/E=%24=(5$5$($%615)!1T4@3E5-0D52($]&(%-(05)%4SPO
M<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y"05-)
M0SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,S0L-C8P+#@V-CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C,T
M+#8Q-"PV-C<\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XS,"PV.3@L.#(T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\
M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'!L('9A;&EG;CTS1'1O<#Y$24Q55$5$/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XS-"PV-S,L-C$U/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,S0L-C<U+#,R.3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C,P+#<P,2PV.3<\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-
M"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]7TYE>'1087)T7S0P-3)C
M,3,R7SAC,V)?-#!E.5\X83,T7V-B-S4V.3!C-&)F9@T*0V]N=&5N="U,;V-A
M=&EO;CH@9FEL93HO+R]#.B\T,#4R8S$S,E\X8S-B7S0P93E?.&$S-%]C8C<U
M-CDP8S1B9F8O5V]R:W-H965T<R]3:&5E=#`U+FAT;6P-"D-O;G1E;G0M5')A
M;G-F97(M16YC;V1I;F<Z('%U;W1E9"UP<FEN=&%B;&4-"D-O;G1E;G0M5'EP
M93H@=&5X="]H=&UL.R!C:&%R<V5T/2)U<RUA<V-I:2(-"@T*/&AT;6P^#0H@
M(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@
M8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@
M='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO
M="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\
M8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%04=(
M2SX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@8V]L<W!A
M;CTS1#$@<F]W<W!A;CTS1#$^/'-T<F]N9SY#3TY33TQ)1$%4140@4U1!5$5-
M14Y44R!/1B!35$]#2TA/3$1%4E,G($5154E462`H55-$("0I/&)R/CPO<W1R
M;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E1O=&%L/&)R/CPO
M=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E-E='1L96UE;G0@;V8@4W1O
M8VMH;VQD97(G<R!.;W1E<R!087EA8FQE/&)R/CPO=&@^#0H@("`@("`@(#QT
M:"!C;&%S<STS1'1H/E!R:79A=&4@4&QA8V5M96YT/&)R/CPO=&@^#0H@("`@
M("`@(#QT:"!C;&%S<STS1'1H/D-O;6UO;B!3=&]C:SQB<CX\+W1H/@T*("`@
M("`@("`\=&@@8VQA<W,],T1T:#Y#;VUM;VX@4W1O8VL\8G(^4V5T=&QE;65N
M="!O9B!3=&]C:VAO;&1E<B=S($YO=&5S(%!A>6%B;&4\8G(^/"]T:#X-"B`@
M("`@("`@/'1H(&-L87-S/3-$=&@^0V]M;6]N(%-T;V-K/&)R/E!R:79A=&4@
M4&QA8V5M96YT/&)R/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/E1R
M96%S=7)Y('-T;V-K/&)R/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H
M/D%D9&ET:6]N86P@<&%I9"UI;B!C87!I=&%L/&)R/CPO=&@^#0H@("`@("`@
M(#QT:"!C;&%S<STS1'1H/D%D9&ET:6]N86P@<&%I9"UI;B!C87!I=&%L/&)R
M/E-E='1L96UE;G0@;V8@4W1O8VMH;VQD97(G<R!.;W1E<R!087EA8FQE/&)R
M/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/D%D9&ET:6]N86P@<&%I
M9"UI;B!C87!I=&%L/&)R/E!R:79A=&4@4&QA8V5M96YT/&)R/CPO=&@^#0H@
M("`@("`@(#QT:"!C;&%S<STS1'1H/E-T871U=&]R>2!C;VUM;VX@<F5S97)V
M93QB<CX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y2971A:6YE9"!E
M87)N:6YG<SQB<CX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y#=6UU
M;&%T:79E('1R86YS;&%T:6]N(&%D:G5S=&UE;G0\8G(^/"]T:#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R8SX-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/D)%1TE.3DE.1R!"04Q!3D-%(&%T($1E
M8RX@,S$L(#(P,#@\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@
M-3(L-#8Y+#(R,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/B0@,3(L-#4Y/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^)"`Q,RPP-S(L-C8X/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`S+#(R,RPT,3@\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD(#,Q
M+#@Q-RPT-C4\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M<#XD(#0L,S0S+#(Q,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')C/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^0D5'24Y.24Y'($)!3$%.0T4@*&EN('-H
M87)E<RD@870@1&5C+B`S,2P@,C`P.#PO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;7`^,C0L.3$W+#(Q,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')C/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^0D5'24Y.24Y'($)!3$%.0T4@*&EN('-H
M87)E<RD@870@1&5C+B`S,2P@,C`P.#PO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;7`^,C0L.3$W+#(Q,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^5')A;G-L871I;VX@861J=7-T;65N=#PO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,3@S+#4Y-2D\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ,S,L-S@Y
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L
M87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O
M<#Y#;VUM;VX@<W1O8VL@:7-S=65D("AI;B!S:&%R97,I/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XU+#(U,"PP,#`\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR+#DT,2PQ.#(\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D-O;6UO
M;B!S=&]C:R!I<W-U960\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/C(Q+#(X-RPT.3,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M<#XR,RPU,#`L,#0P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^,BPV,C4\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ+#0W,3QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C(Q+#(X-"PX-C@\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR,RPT
M.3@L-38Y/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@
M/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG
M;CTS1'1O<#Y#;VUM;VX@<W1O8VL@:7-S=65D(&9O<B!A8W%U:7)I;F<@87-S
M971S("AI;B!S:&%R97,I/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XQ+#0S,BPS-#$\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/D-O;6UO;B!S=&]C:R!I<W-U960@9F]R(&%C<75I<FEN
M9R!A<W-E=',\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C8L,#(X
M+#4X.#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C<Q-CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C8L,#(W+#@W,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^27-S=6%N8V4@;V8@=V%R<F%N=',@=&\@;F]N
M+65M<&QO>65E<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,2PT
M,34L-S<R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^,2PT,34L-S<R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y)<W-U86YC92!O9B!S=&]C:R!O<'1I;VYS('1O
M(&5M<&QO>65E<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-C`V
M+#0V.#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C8P-BPT-C@\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/DYE="!I;F-O;64\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/C,P+#4Y,2PT,34\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XS,"PU.3$L-#$U/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y&<F%C=&EO;F%L('-H
M87)E<R!U<&]N(')E=F5R<V4@<W1O8VL@<W!L:70\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C,S,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^5')A;G-F97(@=&\@<W1A='5T;W)Y(&-O
M;6UO;B!R97-E<G9E(&9U;F0\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C(L-#4V+#,U,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1N=6T^*#(L-#4V+#,U,2D\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E)E8VQA<W-I9FEC871I;VX@861J
M=7-T;65N=#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,2PV-#DL
M.#$U*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6T^*#$L,3@X+#$Y,2D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M/B@Q-#0L,C0P*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6T^*#,Q-RPS.#0I/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F,^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y%3D1)3D<@0D%,04Y#
M12!A="!$96,N(#,Q+"`R,#`Y/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XQ,S0L,S@R+#DW,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C$W+#(W,3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C8T+#<Q."PP,C8\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XU+#8W.2PW-CD\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XU.2PX
M,#@L,C@Y/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^-"PQ-3DL-C$U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F,^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y%3D1)3D<@0D%,04Y#12`H:6X@<VAA<F5S*2!A
M="!$96,N(#,Q+"`R,#`Y/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XS-"PU-#$L,#8V/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R(&-L87-S/3-$<F,^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L
M('9A;&EG;CTS1'1O<#Y%3D1)3D<@0D%,04Y#12`H:6X@<VAA<F5S*2!A="!$
M96,N(#,Q+"`R,#`Y/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XS
M-"PU-#$L,#8V/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y4<F%N<VQA=&EO;B!A9&IU<W1M96YT/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XU+#$Q,"PR-#D\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XU+#$Q,"PR-#D\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R
M93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D-O;6UO
M;B!S=&]C:R!I<W-U960@9F]R(&5X97)C:7-I;F<@<W1O8VL@;W!T:6]N<R`H
M:6X@<VAA<F5S*3PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3`X
M+#0P-3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^0V]M;6]N('-T;V-K(&ES<W5E9"!F;W(@97AE<F-I<VEN9R!S=&]C
M:R!O<'1I;VYS/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ."PP
M,#`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XU-#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T
M97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6UP/C$W+#DT-CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^0V]M;6]N('-T;V-K(&ES<W5E9"!F;W(@97AE<F-I<VEN
M9R!W87)R86YT<R`H:6X@<VAA<F5S*3PO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;7`^,34L.#@Q/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y#;VUM;VX@<W1O8VL@:7-S=65D(&9O<B!E>&5R
M8VES:6YG('=A<G)A;G1S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XX/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;3XH."D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/D-O;6UO;B!S=&]C:R!I<W-U960@9F]R(&%C<75I<FEN9R!A<W-E
M=',@*&EN('-H87)E<RD\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/C<P+#4V,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^0V]M;6]N('-T;V-K(&ES<W5E9"!F;W(@86-Q=6ER:6YG(&%S
M<V5T<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-C`X+#(R-SQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C,U
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M-C`X+#$Y,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^27-S=6%N8V4@;V8@=V%R<F%N=',@=&\@;F]N+65M<&QO>65E
M<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3DS+#0R.#QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$Y,RPT
M,C@\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@
M8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$
M=&]P/DES<W5A;F-E(&]F('-T;V-K(&]P=&EO;G,@=&\@96UP;&]Y965S/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ+#`X.2PP,#`\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ+#`X.2PP
M,#`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@
M8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$
M=&]P/DYE="!I;F-O;64\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/C4Q+#(X,RPS,C`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M<#XU,2PR.#,L,S(P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y4<F%N<V9E<B!T;R!S=&%T=71O<GD@
M8V]M;6]N(')E<V5R=F4@9G5N9#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^-"PU.3$L-3(T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;3XH-"PU.3$L-3(T*3QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')C/@T*("`@("`@("`\
M=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^14Y$24Y'($)!3$%.0T4@870@
M1&5C+B`S,2P@,C`Q,#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M,3DR+#8X-2PQ.30\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M<#XQ-RPS-C@\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$;G5M<#XV-BPV,C8L-3@T/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3`L,C<Q+#(Y,SQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$P-BPU,#`L
M,#@U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;7`^.2PR-CDL.#8T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R(&-L87-S/3-$<F,^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L
M('9A;&EG;CTS1'1O<#Y%3D1)3D<@0D%,04Y#12`H:6X@<VAA<F5S*2!A="!$
M96,N(#,Q+"`R,#$P/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XS
M-"PW,S4L.3$R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;7`^,S0L-S,U+#DQ,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')C/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^14Y$24Y'($)!3$%.0T4@*&EN('-H87)E
M<RD@870@1&5C+B`S,2P@,C`Q,#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^,S0L-S,U+#DQ,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6UP/C,T+#<S-2PY,3(\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E1R86YS;&%T:6]N(&%D:G5S
M=&UE;G0\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$R+#0Y,RPT
M,#(\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XQ,BPT.3,L-#`R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L
M('9A;&EG;CTS1'1O<#Y#;VUM;VX@<W1O8VL@<F5P=7)C:&%S960@*&EN('-H
M87)E<RD\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#$X-"PU.3DI
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M,3@T+#4Y.3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^0V]M;6]N('-T;V-K(')E<'5R8VAA<V5D/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M/B@U,#`L,#`P*3QS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#4P,"PP,#`I/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y#;VUM;VX@
M<W1O8VL@:7-S=65D(&9O<B!E>&5R8VES:6YG('-T;V-K(&]P=&EO;G,@*&EN
M('-H87)E<RD\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/CDL-#,P
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L
M87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O
M<#Y#;VUM;VX@<W1O8VL@:7-S=65D(&9O<B!E>&5R8VES:6YG('-T;V-K(&]P
M=&EO;G,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C4\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@U*3QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^27-S
M=6%N8V4@;V8@=V%R<F%N=',@=&\@;F]N+65M<&QO>65E<SPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^-#4R+#`P,#QS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C0U,BPP,#`\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DES<W5A;F-E
M(&]F('-T;V-K(&]P=&EO;G,@=&\@96UP;&]Y965S/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$;G5M<#XW+#`R.2PT,#`\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XW+#`R.2PT,#`\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DYE="!I;F-O
M;64\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C,P+#DU,BPW-C`\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XS
M,"PY-3(L-S8P/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y4<F%N<V9E<B!T;R!S=&%T=71O<GD@8V]M;6]N(')E<V5R
M=F4@9G5N9#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-"PQ,S@L
M,C8T/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU
M;3XH-"PQ,S@L,C8T*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@
M8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')C/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^14Y$24Y'($)!3$%.0T4@870@1&5C+B`S,2P@,C`Q
M,3PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`R-#,L,3$R+#<U
M-CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT
M/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/B0@,3<L,S<S/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;3XD("@U,#`L,#`P*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6UP/B0@-S0L,3`W+#DW.3QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@,30L-#`Y+#4U-SQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/B0@
M,3,S+#,Q-"PU.#$\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M<#XD(#(Q+#<V,RPR-C8\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R8SX-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D5.1$E.1R!"04Q!3D-%("AI;B!S
M:&%R97,I(&%T($1E8RX@,S$L(#(P,3$\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/C,T+#<T-2PS-#(\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XS-"PW-#4L,S0R/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F,^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y%3D1)3D<@0D%,04Y#
M12`H:6X@<VAA<F5S*2!A="!$96,N(#,Q+"`R,#$Q/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$;G5M<#XS-"PU-C`L-S0S/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,S0L-38P+#<T,SQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$X-"PU.3D\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-
M"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]7TYE>'1087)T7S0P-3)C
M,3,R7SAC,V)?-#!E.5\X83,T7V-B-S4V.3!C-&)F9@T*0V]N=&5N="U,;V-A
M=&EO;CH@9FEL93HO+R]#.B\T,#4R8S$S,E\X8S-B7S0P93E?.&$S-%]C8C<U
M-CDP8S1B9F8O5V]R:W-H965T<R]3:&5E=#`V+FAT;6P-"D-O;G1E;G0M5')A
M;G-F97(M16YC;V1I;F<Z('%U;W1E9"UP<FEN=&%B;&4-"D-O;G1E;G0M5'EP
M93H@=&5X="]H=&UL.R!C:&%R<V5T/2)U<RUA<V-I:2(-"@T*/&AT;6P^#0H@
M(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@
M8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@
M='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO
M="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\
M8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%1E1"
M23X-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@8V]L<W!A
M;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SY#3TY33TQ)1$%4140@4U1!5$5-
M14Y44R!/1B!#05-(($9,3U=3("A54T0@)"D\8G(^/"]S=')O;F<^/"]T:#X-
M"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#,^,3(@36]N=&AS
M($5N9&5D/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@
M(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L(#(P,3$\8G(^/"]T:#X-"B`@("`@
M("`@/'1H(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`Q,#QB<CX\+W1H/@T*("`@
M("`@("`\=&@@8VQA<W,],T1T:#Y$96,N(#,Q+"`R,#`Y/&)R/CPO=&@^#0H@
M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#X\<W1R;VYG/D-!4T@@1DQ/5U,@
M1E)/32!/4$52051)3D<@04-4259)5$E%4SPO<W1R;VYG/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y.970@:6YC;VUE/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XD(#,P+#DU,BPW-C`\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD(#4Q+#(X,RPS,C`\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XD
M(#,P+#4Y,2PT,34\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/CQS=')O;F<^061J=7-T;65N=',@=&\@<F5C;VYC:6QE
M(&YE="!I;F-O;64@=&\@;F5T(&-A<V@@<')O=FED960@8GD@;W!E<F%T:6YG
M(&%C=&EV:71I97,Z/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L
M:6=N/3-$=&]P/DEN=&5R97-T(&]N(&-A<&ET86P@;&5A<V4@;V)L:6=A=&EO
M;CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,C$P+#,T-SQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^06UO
M<G1I>F%T:6]N(&]F('!R97!A:60@;&%N9"!L96%S97,\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6UP/C0R-"PT-C<\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ,#0L.30P/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-3<L.3@U/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y$97!R
M96-I871I;VX@86YD(&%M;W)T:7IA=&EO;CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1&YU;7`^,3<L-CDW+#0S.3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@("`\=&0@8VQA<W,],T1N=6UP/C$Q+#`Y-RPQ-#D\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XW+#$Y.2PV-3@\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%L
M;&]W86YC92\H4F5V97)S86P@;V8@86QL;W=A;F-E*2!F;W(@;V)S;VQE=&4@
M86YD('-L;W<M;6]V:6YG(&EN=F5N=&]R:65S/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XX+#$W.#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6UP/C$L.3$U/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`@(#QT9"!C;&%S<STS1&YU;3XH.2PQ.#(I/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y7<FET92UO9F8@+R!)
M;7!A:7)M96YT(&QO<W,@;VX@<')O<&5R='DL('!L86YT(&%N9"!E<75I<&UE
M;G0\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C<L-3<P+#4V-CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S
M<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^
M0V]M<&5N<V%T:6]N(&EN8V]M92!F<F]M(&QO8V%L(&=O=F5R;FUE;G0@9F]R
M(&1E;6]L:71I;VX@;V8@9F%C=&]R>3PO=&0^#0H@("`@("`@(#QT9"!C;&%S
M<STS1&YU;3XH,2PS-#`L,#(V*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^17AC:&%N9V4@;&]S<R!O;B!I;G1E<BUC
M;VUP86YY(&)A;&%N8V5S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XQ+#,Y."PU-S0\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/DQO<W,@9G)O;2!D:7-P;W-A;"!O9B!P<F]P97)T>2P@
M<&QA;G0@86YD(&5Q=6EP;65N=#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;7`^,2PR.#DL-#`W/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^-3(X+#<T.3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@
M8VQA<W,],T1P;"!V86QI9VX],T1T;W`^1&5F97)R960@=&%X(&%S<V5T/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@R+#4V.2PV-#<I/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,3$L,C<R
M*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^
M*#@R+#$V-BD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L
M:6=N/3-$=&]P/E-T;V-K+6)A<V5D(&-O;7!E;G-A=&EO;B!E>'!E;G-E/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XW+#0X,2PT,#`\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ+#(X,BPT
M,C@\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M
M<#XR+#`R,BPR-#`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/CQS=')O;F<^0VAA;F=E<R!I;B!A<W-E=',@86YD(&QI
M86)I;&ET:65S.CPO<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@
M/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG
M;CTS1'1O<#Y!8V-O=6YT<R!R96-E:79A8FQE/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XY.34L-S$S/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;3XH-BPP,38L,S<V*3QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#,L,C@S+#,T,2D\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DEN
M=F5N=&]R:65S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q+#8R
M,2PQ,3@I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;3XH,2PY-S`L-S0U*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\
M=&0@8VQA<W,],T1N=6T^*#(R,BPW-#DI/'-P86X^/"]S<&%N/CPO=&0^#0H@
M("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y0<F5P87EM96YT(&%N9"!D97!O
M<VET<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-C0X+#<S-#QS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#8X
M-2PR-C8I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;3XH,RPY,C`I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L
M('9A;&EG;CTS1'1O<#Y/=&AE<B!R96-E:79A8FQE<SPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^,BPS,#<\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M<#XS-3,\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%C8V]U;G1S('!A>6%B;&4@
M86YD(&%C8W)U960@97AP96YS97,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C4U,2PV,S8\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XT,CDL-#0Q/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;7`^,2PP-S4L-3$Y/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y2971E;G1I;VX@<&%Y
M86)L93PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^.3@L,3<T/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,C(Q
M+#@P-2D\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XV-3DL-S0U/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L
M('9A;&EG;CTS1'1O<#Y$=64@=&\@<F5L871E9"!P87)T:65S/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q+#$Y,"D\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ+#$Y,#QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^5&%X97,@<&%Y
M86)L93PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH,RPT-3DL-S8X
M*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP
M/C$L-#$U+#$Y.#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/C$L,C@T+#@X,CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E=3X-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/DYE="!C87-H('!R;W9I9&5D(&)Y(&]P
M97)A=&EN9R!A8W1I=FET:65S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$
M;G5M<#XU.2PP-#<L-#(Y/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;7`^-3<L.3DY+#0U,3QS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C,Y+#@R,"PS-S@\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^
M0T%32"!&3$]74R!54T5$($E.($E.5D535$E.1R!!0U1)5DE42453/"]S=')O
M;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-
M"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%D9&ET:6]N
M<R!O9B!P<F5P86ED(&QA;F0@;&5A<V5S/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$;G5M/B@T,#8L,S@P*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1N=6T^*#$P,"PS,34I/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH-S(L-#$Q*3QS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^0V]M<&5N<V%T
M:6]N(')E8V5I=F5D(&9O<B!D96UO;&ET:6]N(&]F(&9A8W1O<GD\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$L,S0P+#`R-CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*
M("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4')O8V5E9',@
M9G)O;2!S86QE<R!O9B!P<F]P97)T>2P@<&QA;G0@86YD(&5Q=6EP;65N=#PO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-#<Y+#(V,#QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C<P-"PW-C<\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA
M<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P
M/E!U<F-H87-E(&]F('!R;W!E<G1Y+"!P;&%N="!A;F0@97%U:7!M96YT/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@U,BPY,#<L,S<T*3QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6T^*#,Y+#0V
M,RPT-3<I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS
M1&YU;3XH,S@L.#<V+#8U-RD\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(@8VQA<W,],T1R974^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'!L('9A;&EG;CTS1'1O<#Y.970@8V%S:"!U<V5D(&EN(&EN=F5S=&EN
M9R!A8W1I=FET:65S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@U
M,2PY-S,L-S(X*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6T^*#,Y+#`X-"PU,3(I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;3XH,S@L,C0T+#,P,2D\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^0T%3
M2"!&3$]74R!&4D]-($9)3D%.0TE.1R!!0U1)5DE42453/"]S=')O;F<^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T
M9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@
M("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E)E<&%Y;65N="!O9B!N
M;W1E<R!P87EA8FQE/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@Q
M+#8U,"PP,#`I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y297!A>6UE;G0@;V8@<W1O8VMH;VQD97(G<R!N;W1E<R!P
M87EA8FQE/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\
M+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@U,"PP,#`I
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L
M87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O
M<#Y297!U<F-H87-E(&]F(&-O;6UO;B!S=&]C:SPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1&YU;3XH-3`P+#`P,"D\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E)E<&%Y;65N="!O9B!C87!I=&%L
M(&QE87-E(&]B;&EG871I;VX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N
M=6T^*#(X."PW,SDI/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L
M('9A;&EG;CTS1'1O<#Y0<F]C965D<R!F<F]M('!R:79A=&4@<&QA8V5M96YT
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR+#$Y,BPY,3D\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR,2PS
M,#<L,30R/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@
M/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG
M;CTS1'1O<#Y0<F]C965D<R!F<F]M(&5X97)C:7-I;F<@<W1O8VL@;W!T:6]N
M<SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,3@L,#`P/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^
M/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$
M<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y297!A
M>6UE;G0@;V8@;&]A;B!P87EA8FQE/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S
M/3-$;G5M/B@T+#`S,2PW-S4I/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\
M+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S
M<STS1'!L('9A;&EG;CTS1'1O<#Y!9'9A;F-E<R`H=&\I+V9R;VT@<F5L871E
M9"!P87)T:65S/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M/B@X-3(L
M,#8W*3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^4F5P87EM96YT('1O(')E;&%T960@<&%R=&EE<SPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1&YU;3XH,2PV-#DL.#,W*3QS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O=3X-"B`@
M("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DYE="!C87-H("AU
M<V5D(&EN*2]P<F]V:61E9"!B>2!F:6YA;F-I;F<@86-T:79I=&EE<SPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;3XH-S@X+#<S.2D\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XR+#(Q,"PY,3D\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ
M,RPP-S,L-#8S/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y%1D9%0U13($]&($580TA!3D=%(%)!5$4@0TA!3D=%4R!/
M3B!#05-(($%.1"!#05-(($5154E604Q%3E13/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$;G5M<#XS+#<Y-BPV,3@\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ+#@S,2PX.#<\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XY+#$U,3QS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O
M=3X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DY%5"!)
M3D-214%312!)3B!#05-(($%.1"!#05-(($5154E604Q%3E13/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ,"PP.#$L-3@P/'-P86X^/"]S<&%N
M/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,C(L.34W+#<T-3QS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C$T
M+#8U."PV.3$\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@
M("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L
M:6=N/3-$=&]P/D-!4T@@04Y$($-!4T@@15%5259!3$5.5%,@+2!"14=)3DY)
M3D<@3T8@645!4CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-C@L
M-#DT+#0X,#QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C0U+#4S-BPW,S4\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$;G5M<#XS,"PX-S@L,#0T/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F\^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y#05-(($%.1"!#05-(($51
M54E604Q%3E13("T@14Y$($]&(%E%05(\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/C<X+#4W-BPP-C`\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$;G5M<#XV."PT.30L-#@P/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-#4L-3,V+#<S-3QS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS
M1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T
M<F]N9SY#87-H('!A:60@9'5R:6YG('1H92!Y96%R(&9O<CH\+W-T<F]N9SX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O/@T*("`@
M("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^26YC;VUE('1A>&5S
M/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XQ."PW.30L-#8U/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^,38L
M.3$W+#`R.3QS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1N=6UP/C$P+#4Q-"PV.3<\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S
M/3-$<&P@=F%L:6=N/3-$=&]P/DEN=&5R97-T('!A:60\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/B9N8G-P.R9N8G-P.SQS<&%N/CPO<W!A;CX\
M+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/B9N8G-P.R9N8G-P.SQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/B9N
M8G-P.R9N8G-P.SQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<B!C;&%S<STS1')O/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V
M86QI9VX],T1T;W`^/'-T<F]N9SY355!03$5-14Y404P@1$E30TQ/4U5212!/
M1B!.3TXM0T%32"!)3E9%4U1)3D<@04Y$($9)3D%.0TE.1R!!0U1)5DE42453
M/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A
M;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DEN
M8V5P=&EO;B!C87!I=&%L(&QE87-E(&]B;&EG871I;VX@9F]R(&%C<75I<FEN
M9R!P<F]P97)T>2P@<&QA;G0@86YD(&5Q=6EP;65N=#PO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1&YU;7`^,RPQ,C<L.3$S/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F@^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y3=&]C:R!/<'1I;VX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@
M("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N9SY355!03$5-
M14Y404P@1$E30TQ/4U5212!/1B!.3TXM0T%32"!)3E9%4U1)3D<@04Y$($9)
M3D%.0TE.1R!!0U1)5DE42453/"]S=')O;F<^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@/'1D(&-L87-S/3-$
M<&P@=F%L:6=N/3-$=&]P/DES<W5A;F-E(&]F(&-O;6UO;B!S=&]C:SPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^-3QS<&%N/CPO<W!A;CX\+W1D
M/@T*("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C0X/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F@^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y787)R86YT/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R;SX-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/CQS=')O;F<^4U504$Q%345.
M5$%,($1)4T-,3U-54D4@3T8@3D].+4-!4T@@24Y615-424Y'($%.1"!&24Y!
M3D-)3D<@04-4259)5$E%4SPO<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L
M('9A;&EG;CTS1'1O<#Y)<W-U86YC92!O9B!C;VUM;VX@<W1O8VL\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*
M("`@("`@("`\=&0@8VQA<W,],T1N=6UP/C@\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R:#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E-E='1L96UE;G0@;V8@4W1O
M8VMH;VQD97(G<R!.;W1E<R!087EA8FQE/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/CQS=')O;F<^4U504$Q%345.5$%,($1)4T-,3U-54D4@
M3T8@3D].+4-!4T@@24Y615-424Y'($%.1"!&24Y!3D-)3D<@04-4259)5$E%
M4SPO<W1R;VYG/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P
M86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S
M/3-$<F\^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y)
M<W-U86YC92!O9B!C;VUM;VX@<W1O8VL\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1T97AT/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA
M<W,],T1N=6UP/C(Q+#(X-RPT.3,\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@
M(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R:#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$<&P@=F%L:6=N/3-$=&]P/E!R;W!E<G1Y(%!L86YT(&%N9"!%<75I
M<&UE;G0\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')O
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^/'-T<F]N
M9SY355!03$5-14Y404P@1$E30TQ/4U5212!/1B!.3TXM0T%32"!)3E9%4U1)
M3D<@04Y$($9)3D%.0TE.1R!!0U1)5DE42453/"]S=')O;F<^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@("`@/'1D(&-L87-S/3-$=&5X=#X\<W!A;CX\+W-P86X^/"]T9#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DES<W5A;F-E(&]F(&-O;6UO;B!S
M=&]C:SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^)"`V,#@L,C(W
M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1&YU;7`^
M)"`V+#`R."PU.#@\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@
M("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]7TYE
M>'1087)T7S0P-3)C,3,R7SAC,V)?-#!E.5\X83,T7V-B-S4V.3!C-&)F9@T*
M0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B\T,#4R8S$S,E\X8S-B7S0P
M93E?.&$S-%]C8C<U-CDP8S1B9F8O5V]R:W-H965T<R]3:&5E=#`W+FAT;6P-
M"D-O;G1E;G0M5')A;G-F97(M16YC;V1I;F<Z('%U;W1E9"UP<FEN=&%B;&4-
M"D-O;G1E;G0M5'EP93H@=&5X="]H=&UL.R!C:&%R<V5T/2)U<RUA<V-I:2(-
M"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#
M;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F
M+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W
M+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^
M/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@
M:60],T1)1#!%040^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS
M1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^3D%455)%($]&
M($)54TE.15-3($%.1"!354U-05)9($]&(%-)1TY)1DE#04Y4($%#0T]53E1)
M3D<@4$],24-)15,\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L
M87-S/3-$=&@@8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T:#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H
M/D1E8RX@,S$L(#(P,3$\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/DY!5%5212!/1B!"55-)3D534R!!3D0@4U5-34%262!/1B!324=.
M249)0T%.5"!!0T-/54Y424Y'(%!/3$E#2453/"]T9#X-"B`@("`@("`@/'1D
M(&-L87-S/3-$=&5X=#X\9&EV/@T*/'`@<W1Y;&4],T0G34%21TE..B`P<'0@
M,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M)SY.3U1%(#$-"B8C>#(P,3,[($Y!5%5212!/1B!"55-)3D534R!!3D0@4U5-
M34%262!/1B!324=.249)0T%.5"!!0T-/54Y424Y'#0I03TQ)0TE%4SPO<#X-
M"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T
M(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!P="`P<'@[
M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*
M*&$I)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[
M)B-X03`[)B-X03`[)B-X03`[)B-X03`[0F%S:7,-"F]F(%!R97-E;G1A=&EO
M;CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)
M3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=.
M.B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*5&AE(&%C8V]M<&%N>6EN9R!A
M=61I=&5D(&-O;G-O;&ED871E9"!F:6YA;F-I86P@<W1A=&5M96YT<R!H879E
M#0IB965N('!R97!A<F5D(&)Y($=U;&8@4F5S;W5R8V5S+"!);F,N(&$@1&5L
M87=A<F4@8V]R<&]R871I;VX@86YD#0II=',@<W5B<VED:6%R:65S("AC;VQL
M96-T:79E;'DL('1H92`F(W@R,#%#.T-O;7!A;GDF(W@R,#%$.RDN/"]P/@T*
M/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@
M,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I
M9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0I5<'!E<B!#;&%S<R!'<F]U<"!,:6UI=&5D
M('=A<R!I;F-O<G!O<F%T960@=VET:"!L:6UI=&5D(&QI86)I;&ET>0T*:6X@
M=&AE($)R:71I<V@@5FER9VEN($ES;&%N9',@;VX@2G5L>2`R."P@,C`P-B!A
M;F0@=V%S(&EN86-T:79E#0IU;G1I;"!/8W1O8F5R(#DL(#(P,#8@=VAE;B!5
M<'!E<B!#;&%S<R!'<F]U<"!,:6UI=&5D(&%C<75I<F5D(&%L;`T*=&AE(&ES
M<W5E9"!A;F0@;W5T<W1A;F1I;F<@<W1O8VL@;V8@4VAO=6=U86YG($-I='D@
M2&%O>75A;B!#:&5M:6-A;`T*0V]M<&%N>2!,:6UI=&5D("@F(W@R,#%#.U-#
M2$,F(W@R,#%$.RDN)B-X03`[)B-X03`[4T-(0R!I<R!A;@T*;W!E<F%T:6YG
M(&-O;7!A;GD@:6YC;W)P;W)A=&5D(&EN(%-H;W5G=6%N9R!#:71Y+"!3:&%N
M9V1O;F<-"E!R;W9I;F-E+"!T:&4@4&5O<&QE)B-X,C`Q.3MS(%)E<'5B;&EC
M(&]F($-H:6YA("AT:&4-"B8C>#(P,4,[4%)#)B-X,C`Q1#LI(&]N($UA>2`Q
M."P@,C`P-2XF(WA!,#LF(WA!,#M30TA#(&ES(&5N9V%G960@:6X-"FUA;G5F
M86-T=7)I;F<@86YD('1R861I;F<@8G)O;6EN92!A;F0@8W)U9&4@<V%L="!I
M;@T*0VAI;F$N)B-X03`[)B-X03`[4VEN8V4@=&AE(&]W;F5R<VAI<"!O9B!5
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M=&AE:7(@8V%R<GEI;F<@86UO=6YT<RX\+W`^#0H\<"!S='EL93TS1"=415A4
M+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*
M/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@
M,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M)SX-"D]N($1E8V5M8F5R(#$R+"`R,#`V+"!'=6QF(%)E<V]U<F-E<RP@26YC
M+B`H9F]R;65R;'D@1&EV97)S:69A>"P-"DEN8RXI+"!A('!U8FQI8R`F(W@R
M,#%#.W-H96QL)B-X,C`Q1#L@8V]M<&%N>2P@86-Q=6ER960@57!P97(@0VQA
M<W,-"D=R;W5P($QI;6ET960@86YD(&ET<R!W:&]L;'DM;W=N960@<W5B<VED
M:6%R>2P@4T-(0R`H=&]G971H97(-"B8C>#(P,4,[57!P97(@0VQA<W,F(W@R
M,#%$.RDN)B-X03`[)B-X03`[56YD97(@=&AE('1E<FUS(&]F('1H90T*86=R
M965M96YT+"!A;&P@<W1O8VMH;VQD97)S(&]F(%5P<&5R($-L87-S(')E8V5I
M=F5D(&$@=&]T86P@86UO=6YT#0IO9B`Q,RPR-3`L,#`P("AR97-T871E9"!F
M;W(@=&AE(#(M9F]R+3$@<W1O8VL@<W!L:70@:6X@,C`P-R!A;F0@=&AE#0HQ
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M871I;VXN)B-X03`[)B-X03`[5&AA="!I<RP@=&AE('-H87)E#0IE>&-H86YG
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M:6-A;`T*9FEN86YC:6%L('-T871E;65N=',@;V8@=&AE(&QE9V%L(&%C<75I
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M;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*3VX@1F5B<G5A<GD@-2P@
M,C`P-RP@4T-(0R!A8W%U:7)E9"!3:&]U9W5A;F<@675X:6X@0VAE;6EC86P-
M"DEN9'5S=')Y($-O+BP@3&EM:71E9"`H)B-X,C`Q0SM364-))B-X,C`Q1#LI
M+"!A(&-O;7!A;GD@:6YC;W)P;W)A=&5D#0II;B!04D,@;VX@3V-T;V)E<B`S
M,"P@,C`P,"XF(WA!,#LF(WA!,#M364-)(&UA;G5F86-T=7)E<R!C:&5M:6-A
M;`T*<')O9'5C=',@=71I;&EZ960@:6X@;VEL(&%N9"!G87,@9FEE;&0@97AP
M;&]R871I;VYS(&%N9"!A<PT*<&%P97)M86MI;F<@8VAE;6EC86P@86=E;G1S
M+B!5;F1E<B!T:&4@=&5R;7,@;V8@=&AE(&UE<F=E<@T*86=R965M96YT+"!A
M;&P@<W1O8VMH;VQD97)S(&]F(%-90TD@<F5C96EV960@82!T;W1A;"!A;6]U
M;G0@;V8-"C@L,#DT+#`U.2`H<F5S=&%T960@9F]R('1H92`R+69O<BTQ('-T
M;V-K('-P;&ET(&EN(#(P,#<@86YD('1H90T*,2UF;W(M-"!S=&]C:R!S<&QI
M="!I;B`R,#`Y*2!S:&%R97,@;V8@=F]T:6YG(&-O;6UO;B!S=&]C:R!O9B!'
M=6QF#0I297-O=7)C97,L($EN8RX@:6X@97AC:&%N9V4@9F]R(&%L;"!S:&%R
M97,@;V8@4UE#228C>#(P,3D[<R!C;VUM;VX-"G-T;V-K(&AE;&0@8GD@86QL
M('-T;V-K:&]L9&5R<RXF(WA!,#LF(WA!,#LF(WA!,#M!;'-O+"!U<&]N('1H
M90T*8V]M<&QE=&EO;B!O9B!T:&4@;65R9V5R+"!'=6QF(%)E<V]U<F-E<RP@
M26YC+B!P86ED(&$@)#(L-34P+#`P,`T*9&EV:61E;F0@=&\@=&AE(&]R:6=I
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M=&5D('1O(')E9FQE8W0@=&AE(&UE<F=E<BX\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P
M/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P
M<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF)SX-"D]N($YO=F5M8F5R(#$Q+"`R,#`W+"!5<'!E<B!#;&%S<R!F;W)M
M960@2&]N9R!+;VYG($II87AI;F<-"DEN9'5S=')I86P@3&EM:71E9"`H9F]R
M;65R;'D@:VYO=VX@87,@2FEA>&EN9R!496-H;F]L;V=Y($QI;6ET960I#0HH
M)B-X,C`Q0SM(2TI))B-X,C`Q1#LI+"!A('=H;VQL>2UO=VYE9"!S=6)S:61I
M87)Y(&]F(%5P<&5R($-L87-S+"!I;@T*2&]N9R!+;VYG+B!5<'!E<B!#;&%S
M<R!T<F%N<V9E<G)E9"!I=',@97%U:71Y(&EN=&5R97-T(&EN(%-#2$,@=&\-
M"DA+2DDN/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@
M34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I4:&4@861O<'1I;VX@
M;V8@=&AE($9I;F%N8VEA;"!!8V-O=6YT:6YG(%-T86YD87)D<R!";V%R9`T*
M*"8C>#(P,4,[1D%30B8C>#(P,40[*2!!8V-O=6YT:6YG(%-T86YD87)D<R!#
M;V1I9FEC871I;VX-"B@F(W@R,#%#.T%30R8C>#(P,40[(&]R("8C>#(P,4,[
M0V]D:69I8V%T:6]N)B-X,C`Q1#LI(&1I9"!N;W0@<F5S=6QT(&EN#0IS:6=N
M:69I8V%N="!E9F9E8W0@:6X@=&AE(&%C8V]U;G1I;F<@<&]L:6-I97,@861O
M<'1E9"!B>2!T:&4-"D-O;7!A;GDN/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!
M3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
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M<&QI="!E9F9E8W1I=F4@;VX@3V-T;V)E<B`Q,BP@,C`P.2X\+W`^#0H\<"!S
M='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[
M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*
M)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@
M34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF)SX-"BAB*28C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C
M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.TYA='5R
M90T*;V8@=&AE($)U<VEN97-S/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
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M0TDN)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@8V5N=&5R
M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@8V5N=&5R.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*/"]P/@T*/'`@<W1Y
M;&4],T0G5$585"U!3$E'3CH@<FEG:'0[($U!4D=)3CH@,'!T(#!P>#L@1D].
M5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!
M,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SX-"CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I
M9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T**&,I)B-X03`[
M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X
M03`[)B-X03`[)B-X03`[0F%S:7,-"F]F($-O;G-O;&ED871I;VX\+W`^#0H\
M<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
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M;VX-"F-O;G-O;&ED871I;VXN/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
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M;'D@8V]N=')O;&QE9`T*8V]M<&%N:65S+CPO<#X-"CQP('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T**&0I)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[
M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[57-E#0IO9B!%<W1I;6%T
M97,\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"E1H92!#;VUP86YY)B-X,C`Q
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M;V0N)B-X03`[)B-X03`[5&AE#0I#;VUP86YY(&)A<V5S(&ET<R!E<W1I;6%T
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M8V4@9F]R(&1O=6)T9G5L(&%C8V]U;G1S+`T*<F5C;V=N:71I;VX@86YD(&UE
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M;VYS(&]R(&-O;F1I=&EO;G,N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
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M;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
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M/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P
M<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU
M<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^#0HH9BDF(WA!,#LF(WA!,#LF(WA!,#LF
M(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!
M,#M!8V-O=6YT<PT*4F5C96EV86)L92!A;F0@06QL;W=A;F-E(&]F($1O=6)T
M9G5L($%C8V]U;G1S/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
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M<W,@;V8@96%C:`T*8W5S=&]M97(@8F%S960@;VX@;VYG;VEN9R!C<F5D:70@
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M#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y
M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/@T*07,@;V8@1&5C96UB97(@,S$L(#(P,3$@86YD
M(#(P,3`L(&%L;&]W86YC92!F;W(@9&]U8G1F=6P@86-C;W5N=',-"G=E<F4@
M;FEL+B!.;R!A;&QO=V%N8V5S(&9O<B!D;W5B=&9U;"!A8V-O=6YT<R!W97)E
M(&-H87)G960@=&\@=&AE#0II;F-O;64@<W1A=&5M96YT(&9O<B!T:&4@>65A
M<G,@96YD960@1&5C96UB97(@,S$L(#(P,3$L(#(P,3`@86YD#0HR,#`Y+CPO
M<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@
M,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J
M=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T**&<I)B-X03`[)B-X03`[)B-X03`[
M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X
M03`[0V]N8V5N=')A=&EO;@T*;V8@0W)E9&ET(%)I<VL\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X
M03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%2
M1TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX-"E1H92!#;VUP86YY(&ES(&5X<&]S960@=&\@8W)E9&ET
M(')I<VL@:6X@=&AE(&YO<FUA;"!C;W5R<V4@;V8-"F)U<VEN97-S+"!P<FEM
M87)I;'D@<F5L871E9"!T;R!A8V-O=6YT<R!R96-E:79A8FQE(&%N9"!C87-H
M(&%N9`T*8V%S:"!E<75I=F%L96YT<RX@4W5B<W1A;G1I86QL>2!A;&P@;V8@
M=&AE($-O;7!A;GDF(W@R,#$Y.W,@8V%S:"!A;F0-"F-A<V@@97%U:79A;&5N
M=',@87)E(&UA:6YT86EN960@=VET:"!F:6YA;F-I86P@:6YS=&ET=71I;VYS
M(&EN('1H90T*4%)#+"!N86UE;'DL($EN9'5S=')I86P@86YD($-O;6UE<F-I
M86P@0F%N:R!O9B!#:&EN82!,:6UI=&5D(&%N9`T*0VAI;F$@365R8VAA;G1S
M($)A;FL@0V]M<&%N>2!,:6UI=&5D+"!W:&EC:"!A<F4@;F]T(&EN<W5R960@
M;W(-"F]T:&5R=VES92!P<F]T96-T960N(%1H92!#;VUP86YY('!L86-E9"`D
M-S@L-3(V+#`V,"!A;F0@)#8X+#0T-"PT.#`-"G=I=&@@=&AE<V4@:6YS=&ET
M=71I;VYS(&%S(&]F($1E8V5M8F5R(#,Q+"`R,#$Q(&%N9"`R,#$P+`T*<F5S
M<&5C=&EV96QY+B8C>$$P.R8C>$$P.U1H92!#;VUP86YY(&AA<R!N;W0@97AP
M97)I96YC960@86YY(&QO<W-E<PT*:6X@<W5C:"!A8V-O=6YT<R!I;B!T:&4@
M4%)#+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!
M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
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M(&%C8V]U;G1S#0IR96-E:79A8FQE(&%S(&]F($1E8V5M8F5R(#,Q+"`R,#$Q
M(&%N9"`R,#$P(&%R92!A;&P@86UO=6YT<PT*;W5T<W1A;F1I;F<@9F]R(&QE
M<W,@=&AA;B!T:')E92!M;VYT:',N/"]F;VYT/CPO<#X-"CQP('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\
M+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!C96YT97([($U!4D=)3CH@
M,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!C
M96YT97([($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H=#L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"CPO<#X-"CQP
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P
M>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^
M#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y
M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/@T**&@I)B-X03`[)B-X03`[)B-X03`[)B-X03`[
M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[26YV
M96YT;W)I97,\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y
M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T
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M#0IA;F0@<V5L;&EN9R!E>'!E;G-E<RX\+W`^#0H\<"!S='EL93TS1"=415A4
M+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*
M/'`@<W1Y;&4],T0G34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"BAI*28C>$$P.R8C>$$P.R8C
M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P
M.R8C>$$P.PT*4')O<&5R='DL(%!L86YT(&%N9"!%<75I<&UE;G0\+W`^#0H\
M<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX-"E!R;W!E<G1Y+"!P;&%N="!A;F0@97%U:7!M
M96YT(&%R92!S=&%T960@870@8V]S="!L97-S(&%C8W5M=6QA=&5D#0ID97!R
M96-I871I;VX@86YD(&%N>2!I;7!A:7)M96YT(&QO<W-E<RX@17AP96YD:71U
M<F5S(&9O<B!N97<-"F9A8VEL:71I97,@;W(@97%U:7!M96YT+"!A;F0@;6%J
M;W(@97AP96YD:71U<F5S(&9O<B!B971T97)M96YT(&]F#0IE>&ES=&EN9R!F
M86-I;&ET:65S(&]R(&5Q=6EP;65N="!A<F4@8V%P:71A;&EZ960@86YD(&1E
M<')E8VEA=&5D#0IU<VEN9R!T:&4@<W1R86EG:'0M;&EN92!M971H;V0@870@
M<F%T97,@<W5F9FEC:65N="!T;R!D97!R96-I871E#0IS=6-H(&-O<W1S(&]V
M97(@=&AE(&5S=&EM871E9"!P<F]D=6-T:79E(&QI=F5S+B!!;&P@;W1H97(@
M;W)D:6YA<GD-"G)E<&%I<B!A;F0@;6%I;G1E;F%N8V4@8V]S=',@87)E(&5X
M<&5N<V5D(&%S(&EN8W5R<F5D+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S
M='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[
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M(&UE=&AO9"P@=VAI8VAE=F5R(&ES('-H;W)T97(N/"]P/@T*/'`@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P
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M:6-H('1I;64@9&5P<F5C:6%T:6]N(&-O;6UE;F-E<RX\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X
M03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%2
M1TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX-"E1H92!#;VUP86YY)B-X,C`Q.3MS(&1E<')E8VEA=&EO
M;B!A;F0@86UO<G1I>F%T:6]N('!O;&EC:65S(&]N#0IP<F]P97)T>2P@<&QA
M;G0@86YD(&5Q=6EP;65N="!O=&AE<B!T:&%N(&UI;F5R86P@<FEG:'1S(&%N
M9`T*8V]N<W1R=6-T:6]N(&EN('!R;V=R97-S(&%R92!A<R!F;VQL;W=S.CPO
M<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@
M,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9B<^#0HF(WA!,#L\+W`^#0H\=&%B;&4@<W1Y;&4],T0G5TE$5$@Z(#@P
M)3L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<@
M8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,"!A;&EG;CTS1&-E;G1E
M<CX-"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT
M9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q
M<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@
M8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!C96YT97(G(&-O;'-P86X]
M,T0R/E5S969U;"8C>$$P.VQI9F4\8G(@+SX-"BAI;B8C>$$P.WEE87)S*3PO
M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@
M<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^0G5I;&1I;F=S("AI;F-L
M=61I;F<@<V%L="!P86YS*3PO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<^."`M(#(P/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/"]T<CX-
M"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!W:&ET93L@5D525$E#
M04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^4&QA;G0@86YD(&UA8VAI;F5R>2`H:6YC;'5D:6YG#0IP<F]T96-T
M:79E('-H96QL<RP@=')A;G-M:7-S:6]N(&-H86YN96QS(&%N9"!D=6-T<RD\
M+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!C96YT97(G/C4@+2`X/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+
M1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'
M3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!7
M24142#H@.#<E)SY-;W1O<B!V96AI8VQE<SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!C96YT97([(%=)1%1(.B`Q,"4G/C4\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[
M/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@
M=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/D9U<FYI='5R92P@9FEX='5R97,@86YD(&5Q
M=6EP;65N=#PO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&-E;G1E<B<^.#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\+W1A8FQE/@T*/'`@
M<W1Y;&4],T0G34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].
M5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0H\9F]N
M="!S='EL93TS1"=&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SY);B!!<')I;`T*,C`Q,2P@=&AE($-O;7!A;GD@8VAA;F=E9"!T
M:&4@97-T:6UA=&5D('5S969U;"!L:69E(&]F(&-E<G1A:6X-"G!R;W1E8W1I
M=F4@<VAE;&QS(&%N9"!T<F%N<VUI<W-I;VX@8VAA;FYE;',@86YD(&1U8W1S
M('1H870@:6YC;'5D960-"FEN('!L86YT(&%N9"!M86-H:6YE<GD@9G)O;2`X
M('EE87)S('1O(#4@>65A<G,N/"]F;VYT/B`\9F]N="!S='EL93TS1"=&3TY4
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SY);FET:6%L
M;'DL('1H92!#;VUP86YY#0IE>'!E8W1E9"!T:&4@<')O=&5C=&EV92!S:&5L
M;',F(W@R,#$Y.R!U<V5F=6P@;&EV97,@=V]U;&0@8F4@."!Y96%R<PT*=VET
M:"!R969E<F5N8V4@=&\@=&AE('!A<W0@=V5A<B!A;F0@=&5A<B!E>'!E<FEE
M;F-E9"!I;B`R,#`U+B!);@T*=FEE=R!O9B!T:&4@:6YC<F5A<V5D(')A=&4@
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M;F0@=&AE(')E8V5N=`T*9&ER96-T:6]N86P@:6YF;W)M871I;VX@9G)O;2!T
M:&4@0W)U9&4@4V%L="!);G-T:71U=&EO;F%L#0I!<W-O8VEA=&EO;B!I;B!3
M:&%N9&]N9R!0<F]V:6YC92P@4%)#+"!W:&EC:"!I;F1I8V%T960@=&AA="!T
M:&4-"FQA=&5S="!E<F]S:6]N(')A=&4@=V]U;&0@8F4@,C`E('!E<B!A;FYU
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M9V4@:6X@97-T:6UA=&4L(&-O;7!A<F5D('1O('1H92!O<FEG:6YA;`T*9&5P
M<F5C:6%T:6]N+"!F;W(@9FES8V%L('EE87(@,C`Q,2!W87,@82!P<F4M=&%X
M(&EN8W)E;65N="!I;@T*9&5P<F5C:6%T:6]N(&5X<&5N<V4@;V8@)#DW-2PU
M,3<N(%1H92!P<F4M=&%X(&EN8W)E87-E("AD96-R96%S92D-"G1O(&1E<')E
M8VEA=&EO;B!E>'!E;G-E(&EN(&9U='5R92!P97)I;V1S(&ES(&5X<&5C=&5D
M('1O(&)E#0HD,2PQ,34L,C4R+"`D.#,V+#@V,RP@)#(Q.2PQ.3<L("@D,S@P
M+#0V-"DL("@D,2PR,C4L.#4Q*2P-"B@D.3(W+#8P,"DL("@D-38V+#0U-BD@
M86YD("@D-#8L-#4W*2!I;B!T:&4@96EG:'0@>65A<G,@96YD:6YG#0I$96-E
M;6)E<B`S,2P@,C`Q.2X\+V9O;G0^/"]P/@T*/'`@<W1Y;&4],T0G34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
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M92P@=VAI8V@@:7,@,C`@>65A<G,N/"]P/@T*/'`@<W1Y;&4],T0G34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HH:BDF(WA!,#LF(WA!,#LF(WA!
M,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF
M(WA!,#M!<W-E=`T*4F5T:7)E;65N="!/8FQI9V%T:6]N/"]P/@T*/'`@<W1Y
M;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C
M>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!
M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9B<^#0I4:&4@0V]M<&%N>2!F;VQL;W=S($9!4T(@05-#(#0Q
M,"P@=VAI8V@@97-T86)L:7-H960@82!U;FEF;W)M#0IM971H;V1O;&]G>2!F
M;W(@86-C;W5N=&EN9R!F;W(@97-T:6UA=&5D(')E8VQA;6%T:6]N(&%N9`T*
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M92!U<V5F=6P@;&EF92!O9@T*=&AE)B-X03`[<F5L871E9"!A<W-E="X@5&\@
M<V5T=&QE('1H92!L:6%B:6QI='DL('1H92!O8FQI9V%T:6]N(&ES#0IP86ED
M+"!A;F0@=&\@=&AE(&5X=&5N="!T:&5R92!I<R!A(&1I9F9E<F5N8V4@8F5T
M=V5E;B!T:&4@;&EA8FEL:71Y#0IA;F0@=&AE(&%M;W5N="!O9B!C87-H('!A
M:60L(&$@9V%I;B!O<B!L;W-S('5P;VX@<V5T=&QE;65N="!I<PT*<F5C;W)D
M960N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%2
M1TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
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M<B!E>'!L;VET871I;VXN/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<CL@34%21TE..B`P<'0@,'!X.R!&3TY4
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P
M.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<CL@34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
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M=',\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
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M<VEB;&4@:6UP86ER;65N="X\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=.
M.B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y
M;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"E1H
M92!#;VUP86YY(&1E=&5R;6EN97,@=&AE(&5X:7-T96YC92!O9B!S=6-H(&EM
M<&%I<FUE;G0@8GD-"FUE87-U<FEN9R!T:&4@97AP96-T960@9G5T=7)E(&-A
M<V@@9FQO=W,@*'5N9&ES8V]U;G1E9"!A;F0@=VET:&]U=`T*:6YT97)E<W0@
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M(&1I<W!O<V4@;V8@<W5C:"!A<W-E=',N/"]P/@T*/'`@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-
M"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T
M(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9B<^#0I);B!A8V-O<F1A;F-E('=I=&@@=&AE('!R;W9I<VEO;G,@;V8@=&AE
M($9!4T(@05-#(#,V,"TQ,`T*)B-X,C`Q0SM);7!A:7)M96YT(&]R($1I<W!O
M<V%L(&]F($QO;F<M;&EV960@07-S971S)B-X,C`Q1#L-"G-U8G-E8W1I;VYS
M+"`H:2D@;W=N960@;&]N9RUL:79E9"!A<W-E=',@:&5L9"!A;F0@=7-E9"!W
M:71H(&$-"F-A<G)Y:6YG(&%M;W5N="!O9B`D.2PT,C$L.#4W('=E<F4@=W)I
M='1E;B!D;W=N('1O('1H96ER(&9A:7(@=F%L=64-"F]F("0W+#8Q-BPR-3DL
M(')E<W5L=&EN9R!I;B!A;B!I;7!A:7)M96YT(&-H87)G92!O9B`D,2PX,#4L
M-3DX+`T*=VAI8V@@=V%S(&EN8VQU9&5D(&EN(&5A<FYI;F=S(&9O<B!T:&4@
M>65A<B!E;F1E9"!$96-E;6)E<B`S,2P-"C(P,3$[(&%N9"`H:6DI(&QO;F<M
M;&EV960@87-S971S(&AE;&0@86YD('5S960@=6YD97(@8V%P:71A;"!L96%S
M90T*=VET:"!A(&-A<G)Y:6YG(&%M;W5N="!O9B`D,RPP-3$L,#4T('=E<F4@
M=W)I='1E;B!D;W=N('1O('1H96ER#0IF86ER('9A;'5E(&]F("0R+#,V."PP
M,#@L(')E<W5L=&EN9R!I;B!A;B!I;7!A:7)M96YT(&-H87)G92!O9@T*)#8X
M,RPP-#8L('=H:6-H('=A<R!I;F-L=61E9"!I;B!E87)N:6YG<R!F;W(@=&AE
M('EE87(@96YD960-"D1E8V5M8F5R(#,Q+"`R,#$Q+B!4:&4@9F]L;&]W:6YG
M('1A8FQE('-E=',@9F]R=&@@=&AE(&9A:7(@=F%L=64-"F%N9"!R96QA=&5D
M(&EM<&%I<FUE;G0@8VAA<F=E<R!F;W(@=&AE('EE87(@96YD960@1&5C96UB
M97(@,S$L#0HR,#$Q.CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU
M<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\=&%B;&4@<W1Y
M;&4],T0G5TE$5$@Z(#$P,"4[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D9&EN9STS
M1#`^#0H\='(@<W1Y;&4],T0G5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\
M=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@
M,7!T)SXF(WA!,#L\+W1D/@T*/'1D(&-O;'-P86X],T0R/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S
M;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,3`^1F%I<B8C
M>$$P.U9A;'5E)B-X03`[365A<W5R96UE;G1S)B-X03`[57-I;F<\+W1D/@T*
M/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T
M9#X-"CQT9"!C;VQS<&%N/3-$,CXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R
M('-T>6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE
M/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9"<^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!C96YT97([($U!4D=)3CH@,'!T(#!P>#L@1D].
M5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!
M,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!C96YT97([($U!4D=)
M3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=.
M.B!C96YT97([($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I$97-C<FEP=&EO;CPO<#X-"CPO
M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^665A<B8C
M>$$P.V5N9&5D/&)R("\^#0I$96-E;6)E<B8C>$$P.S,Q+#QB<B`O/@T*,C`Q
M,3PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K
M(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,CY1
M=6]T960F(WA!,#M0<FEC97,F(WA!,#MI;CQB<B`O/@T*06-T:79E)B-X03`[
M36%R:V5T<R8C>$$P.V9O<CQB<B`O/@T*261E;G1I8V%L)B-X03`[07-S971S
M/&)R("\^#0HH3&5V96PF(WA!,#LQ*3PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$
M1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0
M041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@
M8V5N=&5R)R!C;VQS<&%N/3-$,CY3:6=N:69I8V%N="8C>$$P.T]T:&5R/&)R
M("\^#0I/8G-E<G9A8FQE)B-X03`[26YP=71S/&)R("\^#0HH3&5V96PF(WA!
M,#LR*3PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L
M86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$
M,CY3:6=N:69I8V%N=#QB<B`O/@T*56YO8G-E<G9A8FQE/&)R("\^#0I);G!U
M=',\8G(@+SX-"BA,979E;"8C>$$P.S,I/"]T9#X-"CQT9"!S='EL93TS1"=0
M041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED)R!C;VQS<&%N/3-$
M,CX-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<CL@34%21TE..B`P
M<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E
M;G1E<CL@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&-E;G1E<CL@34%21TE.+51/4#H@,'!T.R!&3TY4.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!-05)'24XM0D]4
M5$]-.B`P<'0G/@T*5&]T86PF(WA!,#M'86EN<R8C>$$P.RA,;W-S97,I/"]P
M/@T*/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF
M(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/
M3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M
M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!415A4+4E.1$5.
M5#H@+3<N,#5P=#L@4$%$1$E.1RU,1494.B`W+C`U<'0[(%=)1%1(.B`S-24G
M/@T*3W=N960@;&]N9RUL:79E9"!A<W-E=',@*'!L86YT(&%N9"!M86-H:6YE
M<GDI(&AE;&0@86YD('5S960\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q
M)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M.R!724142#H@,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(')I9VAT.R!724142#H@,3`E)SXW+#8Q-BPR-3D\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXD/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@5TE$5$@Z(#$P)2<^+3PO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@
M,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!7
M24142#H@,3`E)SXM/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5TE$
M5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0[(%=)1%1(.B`Q)2<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/C<L-C$V+#(U.3PO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B0\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@,3`E
M)SXH,2PX,#4L-3DX/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@,24G/BD\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="
M04-+1U)/54Y$+4-/3$]2.B!W:&ET93L@5D525$E#04PM04Q)1TXZ(&)O='1O
M;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"
M3U143TTZ(#%P=#L@5$585"U)3D1%3E0Z("TW+C`U<'0[(%!!1$1)3D<M3$5&
M5#H@-RXP-7!T)SX-"DQO;F<M;&EV960@87-S971S("AP;&%N="!A;F0@;6%C
M:&EN97)Y*2!H96QD('5N9&5R(&-A<&ET86P@;&5A<V4-"F%N9"!U<V5D/"]T
M9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M
M0D]45$]-.B`Q<'0G/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(')I9VAT.R!0041$24Y'+4)/5%1/33H@,7!T)SXR+#,V."PP,#@\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-
M.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U14
M3TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T)SXD/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^
M+3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.
M1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$
M24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B0\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!0041$24Y'+4)/5%1/
M33H@,7!T)SXR+#,V."PP,#@\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/
M33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(')I9VAT.R!0041$24Y'+4)/5%1/33H@,7!T)SXM/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA
M8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!L969T)SXD/"]T9#X-"CQT9"!S
M='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M
M04Q)1TXZ(')I9VAT)SX-"B@V.#,L,#0V/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T)SXI/"]T9#X-
M"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P
M-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y
M;&4],T0G4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/
M33H@,BXU<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@<FEG:'0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/
M33H@,BXU<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"
M3U143TTZ(#(N-7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@4$%$1$E.1RU"
M3U143TTZ(#(N-7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T
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M1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,BXU<'0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[(%!!
M1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,BXU<'0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#(N-7!T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L
M86-K(#(N-7!T(&1O=6)L93L@5$585"U!3$E'3CH@;&5F="<^#0HD/"]T9#X-
M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B
M;&4[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B@R+#0X."PV-#0\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R
M+C5P="<^*3PO=&0^#0H\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*/&9O;G0@<W1Y;&4],T0G1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^5&AE(&%B;W9E#0IO=VYE9"!L;VYG+6QI=F5D
M(&%S<V5T<RP@=VAI8V@@:7,@8VQA<W-I9FEE9"!A<R!,979E;"`S(&EN('1H
M92!F86ER#0IV86QU92!H:65R87)C:'DL('=A<R!V86QU960@=7-I;F<@82!D
M:7-C;W5N=&5D(&-A<V@@9FQO=R!M;V1E;`T*:6YC;W)P;W)A=&EN9R!A<W-U
M;7!T:6]N<R!T:&%T+"!I;B!M86YA9V5M96YT)B-X,C`Q.3MS(&IU9&=M96YT
M+`T*<F5F;&5C="!T:&4@87-S=6UP=&EO;G,@;6%R:V5T<&QA8V4@<&%R=&EC
M:7!A;G1S('=O=6QD('5S92!A=`T*1&5C96UB97(@,S$L(#(P,3$N/"]F;VYT
M/B`\9F]N="!S='EL93TS1"=&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
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M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*5&AE(&QO;F<M
M;&EV960@87-S971S(&AE;&0@=6YD97(@8V%P:71A;"!L96%S92P@=VAI8V@@
M:7,@8VQA<W-I9FEE9`T*87,@3&5V96P@,B!I;B!T:&4@9F%I<B!V86QU92!H
M:65R87)C:'DL('=A<R!V86QU960@8GD@86X-"FEN9&5P96YD96YT(&%P<')A
M:7-E<B!U<VEN9R!T:&4@;6%R:V5T(&%P<')O86-H+"!W:&EC:"!I;F-L=61E
M9`T*;6%I;FQY('%U;W1E9"!P<FEC97,@9F]R('-I;6EL87(@87-S971S+CPO
M<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@
M,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J
M=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*5&AE($-O;7!A;GD@9&5T97)M:6YE
M9"!T:&%T(&YO(&EM<&%I<FUE;G0@=V%S(')E<75I<F5D(&%F=&5R(&=O:6YG
M#0IT:')O=6=H('1H92!I;7!A:7)M96YT('1E<W1I;F<@=&\@=&AE(&]P97)A
M=&EN9R!L;VYG+6QI=F5D(&%S<V5T<PT*87,@;V8@1&5C96UB97(@,S$L(#(P
M,3`N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%2
M1TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
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M+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ
M(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
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M<RX@)B-X03`[5&AE(')E<75I<F5D#0IC;VYT<FEB=71I;VYS('5N9&5R('1H
M92!R971I<F5M96YT('!L86YS(&%R92!C:&%R9V5D('1O('1H90T*8V]N<V]L
M:61A=&5D(&EN8V]M92!S=&%T96UE;G0@;VX@86X@86-C<G5A;"!B87-I<R!W
M:&5N('1H97D@87)E#0ID=64N("8C>$$P.U1H92!#;VUP86YY)B-X,C`Q.3MS
M(&-O;G1R:6)U=&EO;G,@=&]T86QE9"`D-#,Q+#0R."P-"B0T-3<L.#`U(&%N
M9"`D,C<P+#,R-"!F;W(@=&AE('EE87)S(&5N9&5D($1E8V5M8F5R(#,Q+"`R
M,#$Q+"`R,#$P#0IA;F0@,C`P.2P@<F5S<&5C=&EV96QY+CPO<#X-"CQP('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@
M1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF
M(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-
M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T**&TI)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X
M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[36EN97)A
M;`T*4FEG:'1S/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I4:&4@0V]M<&%N
M>2!F;VQL;W=S($9!4T(@05-#(#@P-2`F(W@R,#%#.T)U<VEN97-S#0I#;VUB
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M(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-
M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T**&XI)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X
M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[3&5A<VEN
M9PT*87)R86YG96UE;G1S/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
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M;VX@;V8@=&AE(&QE87-E(&ES(')E9FQE8W1E9`T*87,@86X@87-S970@86YD
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M9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T
M:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G
M5$585"U!3$E'3CH@<FEG:'0[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0H\+W`^#0H\<"!S
M='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[
M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*
M)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@
M34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF)SX-"BAO*28C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C
M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.U)E<&]R
M=&EN9PT*0W5R<F5N8WD@86YD(%1R86YS;&%T:6]N/"]P/@T*/'`@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P
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M,C`Q0SM234(F(W@R,#%$.RDL(&%S('1H92!F=6YC=&EO;F%L(&-U<G)E;F-Y
M.R!W:&5R96%S('1H90T*9G5N8W1I;VYA;"!C=7)R96YC>2!A;F0@<F5P;W)T
M:6YG(&-U<G)E;F-Y(&]F('1H92!#;VUP86YY(&ES('1H90T*56YI=&5D(%-T
M871E<R!D;VQL87(@*"8C>#(P,4,[55-$)B-X,C`Q1#L@;W(@)B-X,C`Q0SLD
M)B-X,C`Q1#LI+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I
M9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*07,@<W5C:"P@
M=&AE($-O;7!A;GD@=7-E<R!T:&4@)B-X,C`Q0SMC=7)R96YT(')A=&4@;65T
M:&]D)B-X,C`Q1#L@=&\-"G1R86YS;&%T92!I=',@4%)#(&]P97)A=&EO;G,@
M9G)O;2!234(@:6YT;R!54T0L(&%S(')E<75I<F5D('5N9&5R#0I!4T,@.#,P
M("8C>#(P,4,[1F]R96EG;B!#=7)R96YC>2!-871T97)S)B-X,C`Q1#LN(%1H
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M<F1E9"!I;@T*<W1O8VMH;VQD97)S)B-X,C`Q.3L@97%U:71Y(&%S('!A<G0@
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M<F%T97,N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@
M34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HH<"DF(WA!,#LF(WA!
M,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF
M(WA!,#LF(WA!,#M&;W)E:6=N#0I/<&5R871I;VYS/"]P/@T*/'`@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P
M.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)
M3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9B<^#0I!;&P@;V8@=&AE($-O;7!A;GDF(W@R,#$Y.W,@;W!E<F%T
M:6]N<R!A;F0@87-S971S(&%R92!L;V-A=&5D(&EN#0I04D,N)B-X03`[)B-X
M03`[5&AE($-O;7!A;GD@;6%Y(&)E(&%D=F5R<V5L>2!A9F9E8W1E9"!B>2!P
M;W-S:6)L90T*<&]L:71I8V%L(&]R(&5C;VYO;6EC(&5V96YT<R!I;B!T:&ES
M(&-O=6YT<GDN)B-X03`[)B-X03`[5&AE(&5F9F5C=`T*;V8@=&AE<V4@9F%C
M=&]R<R!C86YN;W0@8F4@86-C=7)A=&5L>2!P<F5D:6-T960N/"]P/@T*/'`@
M<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
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M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
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M=&%B:6QI='D@:7,-"G)E87-O;F%B;'D@87-S=7)E9"X\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X
M03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%2
M1TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX-"BAR*28C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P
M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.TEN8V]M90T*
M5&%X97,\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-
M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!
M3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
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M96YE9FET(&9R;VT@86X@=6YC97)T86EN('1A>`T*<&]S:71I;VX@;6%Y(&)E
M(')E8V]G;FEZ960@:68@:70@:7,@)B-X,C`Q0SMM;W)E(&QI:V5L>2!T:&%N
M#0IN;W0F(W@R,#%$.R!T:&%T('1H92!P;W-I=&EO;B!I<R!S=7-T86EN86)L
M92!B87-E9"!S;VQE;'D@;VX@:71S#0IT96-H;FEC86P@;65R:71S+CPO<#X-
M"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T
M(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T
M:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/@T**',I)B-X03`[)B-X03`[)B-X03`[)B-X
M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[
M17AP;&]R871I;VX-"D-O<W1S/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
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M<B!E;F1E9"!$96-E;6)E<B`S,2P@,C`Q,2P@=&AE#0I#;VUP86YY(&EN8W5R
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M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T**'0I)B-X03`[
M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X
M03`[)B-X03`[)B-X03`[4VAI<'!I;F<-"F%N9"!(86YD;&EN9R!&965S(&%N
M9"!#;W-T<SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[
M($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4
M+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*5&AE($-O;7!A;GD@
M9&]E<R!N;W0@8VAA<F=E(&ET<R!C=7-T;VUE<G,@9F]R('-H:7!P:6YG(&%N
M9"!H86YD;&EN9PT*87,@86QL(&-U<W1O;65R<R!A<G)A;F=E('1H96ER(&]W
M;B!T<F%N<W!O<G1A=&EO;B!O9B!F:6YI<VAE9`T*9V]O9',N(%1H92!#;VUP
M86YY(&-L87-S:69I97,@<VAI<'!I;F<@86YD(&AA;F1L:6YG(&-O<W1S(&9O
M<@T*<'5R8VAA<V4@;V8@<F%W(&UA=&5R:6%L<R!A<R!P87)T(&]F('1H92!C
M;W-T(&]F(&YE="!R979E;G5E+"!W:&EC:`T*86UO=6YT960@=&\@)#4P-BPS
M,S$L("0U-C<L-C@V(&%N9"`D-#DR+#4X,B!F;W(@=&AE('EE87)S(&5N9&5D
M#0I$96-E;6)E<B`S,2P@,C`Q,2P@,C`Q,"!A;F0@,C`P.2P@<F5S<&5C=&EV
M96QY+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!
M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T**'4I)B-X03`[)B-X03`[
M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X
M03`[)B-X03`[0V]N=&EN9V5N8VEE<SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\
M<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T*5&AE($-O;7!A;GD@86-C<G5E<R!F;W(@8V]S=',@<F5L871I;F<@=&\@
M;&ET:6=A=&EO;BP@:6YC;'5D:6YG#0IL:71I9V%T:6]N(&1E9F5N<V4@8V]S
M=',L(&-L86EM<R!A;F0@;W1H97(@8V]N=&EN9V5N="!M871T97)S+`T*:6YC
M;'5D:6YG(&QI<75I9&%T960@9&%M86=E(&QI86)I;&ET:65S+"!W:&5N('-U
M8V@@;&EA8FEL:71I97,-"F)E8V]M92!P<F]B86)L92!A;F0@<F5A<V]N86)L
M>2!E<W1I;6%B;&4N(%-U8V@@97-T:6UA=&5S(&UA>2!B90T*8F%S960@;VX@
M861V:6-E(&9R;VT@=&AI<F0@<&%R=&EE<R!O<B!O;B!M86YA9V5M96YT)B-X
M,C`Q.3MS#0IJ=61G;65N="P@87,@87!P<F]P<FEA=&4N(%)E=FES:6]N<R!T
M;R!A8V-R=6%L<R!A<F4@<F5F;&5C=&5D(&EN#0IE87)N:6YG<R`H;&]S<RD@
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M+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!C96YT97([($U!4D=)3CH@
M,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!C
M96YT97([($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^#0H\+W`^#0H\<"!S='EL93TS1"=415A4
M+4%,24=..B!R:6=H=#L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!-05)'24XZ(#!P="`P<'@[
M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*
M/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)TU!4D=)3CH@,'!T
M(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T
M:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/@T**'8I)B-X03`[)B-X03`[)B-X03`[)B-X
M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[
M4W1O8VLM8F%S960-"D-O;7!E;G-A=&EO;CPO<#X-"CQP('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*0V]M;6]N('-T;V-K+"!S=&]C:R!O<'1I;VYS(&%N9"!S=&]C:R!W
M87)R86YT<R!I<W-U960@=&\@96UP;&]Y965S#0IO<B!D:7)E8W1O<G,@87)E
M(')E8V]R9&5D(&%T('1H96ER(&9A:7(@=F%L=65S(&5S=&EM871E9"!A="!G
M<F%N=`T*9&%T92!U<VEN9R!T:&4@0FQA8VLM4V-H;VQE<R!M;V1E;"!A;F0@
M=&AE('!O<G1I;VX@=&AA="!I<PT*=6QT:6UA=&5L>2!E>'!E8W1E9"!T;R!V
M97-T(&ES(')E8V]G;FEZ960@87,@8V]M<&5N<V%T:6]N(&-O<W0@;W9E<@T*
M=&AE(')E<75I<VET92!S97)V:6-E('!E<FEO9"X\+W`^#0H\<"!S='EL93TS
M1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[
M/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SX-"D-O;6UO;B!S=&]C:RP@<W1O8VL@;W!T:6]N<R!A;F0@<W1O
M8VL@=V%R<F%N=',@:7-S=65D('1O(&]T:&5R('1H86X-"F5M<&QO>65E<R!O
M<B!D:7)E8W1O<G,@87)E(')E8V]R9&5D(&]N('1H92!B87-I<R!O9B!T:&5I
M<B!F86ER#0IV86QU92!U<VEN9R!T:&4@0FQA8VLM4V-H;VQE<R!M;V1E;"!O
M;B!T:&4@8F%S:7,@;V8@=&AE(&UA<FME=`T*<')I8V4@;V8@=&AE('5N9&5R
M;'EI;F<@8V]M;6]N('-T;V-K(&]N('1H92`F(W@R,#%#.W9A;'5A=&EO;@T*
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M:"!T:&%T(&-H86YG92!O8V-U<G,N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!
M3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
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M3F5T($EN8V]M92!P97(@4VAA<F4@;V8@0V]M;6]N(%-T;V-K/"]P/@T*/'`@
M<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
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M;G1S(&%M;W5N=&5D('1O(#4S-2PT-#DL#0HQ-"PR-3`@86YD(#,P-2PT-#D@
M<VAA<F5S(&9O<B!T:&4@>65A<G,@96YD960@1&5C96UB97(@,S$L(#(P,3$L
M#0HR,#$P(&%N9"`R,#`Y+"!R97-P96-T:79E;'DN/"]P/@T*/'`@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P
M.SPO<#X-"CQP('-T>6QE/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^5&AE#0IF;VQL;W=I
M;F<@=&%B;&4@<V5T<R!F;W)T:"!T:&4@8V]M<'5T871I;VX@;V8@8F%S:6,@
M86YD(&1I;'5T960-"F5A<FYI;F=S('!E<B!S:&%R93H\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X
M03`[/"]P/@T*/'1A8FQE('-T>6QE/3-$)U=)1%1(.B`Q,#`E.R!&3TY4.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL<W!A8VEN
M9STS1#`@8V5L;'!A9&1I;F<],T0P/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,
M+4%,24=..B!B;W1T;VTG/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)
M1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#$P/EEE87)S)B-X03`[96YD960F(WA!
M,#M$96-E;6)E<B8C>$$P.S,Q+#PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.
M1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4]
M,T0G5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI
M9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,CXR,#$Q/"]T9#X-
M"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O
M;&ED.R!415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/C(P,3`\+W1D
M/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^,C`P.3PO
M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@
M<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\
M=&0^3G5M97)A=&]R/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@<FEG:'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
M9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M<FEG:'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=2
M3U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M3$5&5#H@
M.7!T.R!724142#H@-C$E)SY.970-"FEN8V]M93PO=&0^#0H\=&0@<W1Y;&4]
M,T0G5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/C,P+#DU,BPW-C`\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=724142#H@,24G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E
M)SXD/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@5TE$
M5$@Z(#$P)2<^-3$L,C@S+#,R,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T.R!724142#H@,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@,3`E)SXS,"PU.3$L-#$U/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G
M/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M
M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"D[(%9%4E1)0T%,+4%,24=..B!B;W1T
M;VTG/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P
M.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(')I9VAT)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!
M0TM'4D]53D0M0T],3U(Z('=H:71E.R!615)424-!3"U!3$E'3CH@8F]T=&]M
M)SX-"CQT9#Y$96YO;6EN871O<CPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C
M>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
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M9G0[(%1%6%0M24Y$14Y4.B`M.2XS-7!T.R!0041$24Y'+4Q%1E0Z(#$X+C=P
M="<^#0I"87-I8SH@5V5I9VAT960M879E<F%G92!C;VUM;VX@<VAA<F5S(&]U
M='-T86YD:6YG(&1U<FEN9R!T:&4-"GEE87(\+W1D/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^,S0L-C8P+#@V
M-CPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@<FEG:'0G/C,T+#8Q-"PV-C<\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT
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M.B`Y<'0G/D%D9#H-"D1I;'5T:79E(&5F9F5C="!O9B!S=&]C:R!O<'1I;VYS
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M+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T
M('-O;&ED.R!415A4+4%,24=..B!L969T)SX-"B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4
M+4%,24=..B!R:6=H="<^#0HV,"PV-C(\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M
M04Q)1TXZ(')I9VAT)SX-"C(L.#<S/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D
M/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H
M,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S
M='EL93TS1"=0041$24Y'+4Q%1E0Z(#EP="<^1&EL=71E9#PO=&0^#0H\=&0^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXS
M-"PV-S,L-C$U/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!R:6=H="<^,S0L-C<U+#,R.3PO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\
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M3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R
M9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT
M9#Y.970@:6YC;VUE('!E<B!S:&%R93PO=&0^#0H\=&0^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\
M=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G
M/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
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M5$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT)SX-
M"C`N.#D\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!
M1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
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M/3-$)U!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%
M6%0M04Q)1TXZ(&QE9G0G/@T*)#PO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52
M+4)/5%1/33H@8FQA8VL@,BXU<'0@9&]U8FQE.R!415A4+4%,24=..B!R:6=H
M="<^#0HQ+C`P/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M.R!0041$24Y'+4)/5%1/33H@,BXU<'0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*
M/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P
M-"D[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U!!
M1$1)3D<M0D]45$]-.B`R+C5P=#L@4$%$1$E.1RU,1494.B`Y<'0G/D1I;'5T
M960\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`R+C5P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C
M:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)#PO=&0^#0H\
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M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B
M;&4[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C$N-#@\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,BXU
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M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!
M3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"BAX*28C>$$P.R8C>$$P
M.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C
M>$$P.R8C>$$P.U)E8VQA<W-I9FEC871I;VX\+W`^#0H\<"!S='EL93TS1"=-
M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!
M3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"E1H92!#;VUP86YY(')E
M8VQA<W-I9FEE9"!M:6YE<F%L(')E<V]U<F-E<R!C;VUP96YS871I;VX@9F5E
M<RP-"G!R979I;W5S;'D@:6YC;'5D960@:6X@)B-X,C`Q0SM'96YE<F%L(&%N
M9"!A9&UI;FES=')A=&EV90T*97AP96YS97,F(W@R,#%$.RP@9F]R('EE87(@
M96YD960@1&5C96UB97(@,S$L(#(P,#D@:6YT;R`F(W@R,#%#.T-O<W0-"F]F
M(&YE="!R979E;G5E)B-X,C`Q1#L@86YD('-A;&5S(&]F('=A<W1E=V%T97(@
M86YD(&=A:6X@;W(@;&]S<R!O;@T*9&ES<&]S86P@;V8@<')O<&5R='DL('!L
M86YT(&%N9"!E<75I<&UE;G0L('!R979I;W5S;'D@:6YC;'5D960@:6X-"B8C
M>#(P,4,[3W1H97(@26YC;VUE("A%>'!E;G-E*28C>#(P,40[(&%F=&5R("8C
M>#(P,4,[26YC;VUE(&9R;VT-"D]P97)A=&EO;G,F(W@R,#%$.RP@9F]R('1H
M92!Y96%R<R!E;F1E9"!$96-E;6)E<B`S,2P@,C`Q,"!A;F0@,C`P.0T*:6YT
M;R`F(W@R,#%#.T]T:&5R(&]P97)A=&EN9R!I;F-O;64F(W@R,#%$.R!F;W(@
M<V%L97,@;V8@=V%S=&5W871E<@T*86YD(&=A:6X@;VX@9&ES<&]S86P@;V8@
M<')O<&5R='DL('!L86YT(&%N9"!E<75I<&UE;G0@86YD#0HF(W@R,#%#.T=E
M;F5R86P@86YD(&%D;6EN:7-T<F%T:79E(&5X<&5N<V5S)B-X,C`Q1#L@9F]R
M(&QO<W,@;VX-"F1I<W!O<V%L(&]F('!R;W!E<G1Y+"!P;&%N="!A;F0@97%U
M:7!M96YT('1O(&-O;F9O<FT@=&\@=&AE(&-U<G)E;G0-"GEE87(@<')E<V5N
M=&%T:6]N+B!4:&4@86)O=F4@<F5C;&%S<VEF:6-A=&EO;G,@:&%D(&YO(&EM
M<&%C="!O;@T*<')E=FEO=7-L>2!R97!O<G1E9"!N970@:6YC;VUE(&9O<B!T
M:&4@>65A<G,@96YD960@1&5C96UB97(@,S$L#0HR,#$P(&%N9"`R,#`Y+CPO
M<#X-"CQP('-T>6QE/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\
M<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T**'DI)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X
M03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[4F5C96YT;'D-"F%D;W!T960@
M86-C;W5N=&EN9R!P<F]N;W5N8V5M96YT<SPO<#X-"CQP('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*26X@3V-T;V)E<B`R,#`Y+"!T:&4@1D%30B!I<W-U960@06-C;W5N
M=&EN9R!3=&%N9&%R9"!5<&1A=&4-"B@F(W@R,#%#.T%3528C>#(P,40[*2!.
M;RXF(WA!,#LR,#`Y+3$S+"`F(W@R,#%#.TUU;'1I<&QE+41E;&EV97)Y#0I2
M979E;G5E($%R<F%N9V5M96YT<R8C>#(P,40[("@F(W@R,#%#.T%352`R,#`Y
M+3$S)B-X,C`Q1#LI+"!W:&EC:`T*97-T86)L:7-H97,@=&AE(&%C8V]U;G1I
M;F<@86YD(')E<&]R=&EN9R!G=6ED86YC92!F;W(@87)R86YG96UE;G1S#0II
M;F-L=61I;F<@;75L=&EP;&4@9&5L:79E<F%B;&4@<F5V96YU92UG96YE<F%T
M:6YG(&%C=&EV:71I97,L(&%N9`T*<')O=FED97,@86UE;F1M96YT<R!T;R!T
M:&4@8W)I=&5R:6$@9F]R('-E<&%R871I;F<@9&5L:79E<F%B;&5S+`T*86YD
M(&UE87-U<FEN9R!A;F0@86QL;V-A=&EN9R!A<G)A;F=E;65N="!C;VYS:61E
M<F%T:6]N('1O(&]N92!O<@T*;6]R92!U;FET<R!O9B!A8V-O=6YT:6YG+CPO
M<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<CL@34%21TE..B`P
M<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E
M;G1E<CL@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(')I9VAT.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*/"]P/@T*/'`@
M<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
M"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D].
M5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!
M,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T**'DI)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[
M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[4F5C96YT;'D-
M"F%D;W!T960@86-C;W5N=&EN9R!P<F]N;W5N8V5M96YT<R`F(W@R,#$S.R!#
M;VYT:6YU960\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y
M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"E1H92!A;65N9&UE
M;G1S(&]F($%352`R,#`Y+3$S(&%L<V\@97-T86)L:7-H(&$@:&EE<F%R8VAY
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M+`T*86YD('1H92!G96YE<F%L('1I;6EN9R!O9B!D96QI=F5R>2X@5&AE(&%M
M96YD;65N=',@86QS;R!R97%U:7)E#0ID:7-C;&]S=7)E(&]F(&EN9F]R;6%T
M:6]N(&%B;W5T('1H92!S:6=N:69I8V%N="!J=61G;65N=',@;6%D92!A;F0-
M"F-H86YG97,@=&\@=&AO<V4@:G5D9VUE;G1S+"!A;F0@86)O=70@:&]W('1H
M92!A<'!L:6-A=&EO;B!O9B!T:&4-"G)E;&%T:79E('-E;&QI;F<@<')I8V4@
M;65T:&]D(&%F9F5C=',@=&AE('1I;6EN9R!O<B!A;6]U;G0@;V8-"G)E=F5N
M=64@<F5C;V=N:71I;VXN(%1H92!A;65N9&UE;G1S(&]F($%352`R,#`Y+3$S
M(&%R92!E9F9E8W1I=F4-"G!R;W-P96-T:79E;'D@9F]R(')E=F5N=64@87)R
M86YG96UE;G1S(&5N=&5R960@:6YT;R!O<B!M871E<FEA;&QY#0IM;V1I9FEE
M9"!I;B!A;FYU86P@<F5P;W)T:6YG('!E<FEO9',@8F5G:6YN:6YG(&]N(&]R
M(&%F=&5R#0I*=6YE)B-X03`[,34L(#(P,3`N($]N($IA;G5A<GD@,2P@,C`Q
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M;65N=',@:6X@=&AE(&9U='5R92X\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@
M<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
M"DEN($IA;G5A<GD@,C`Q,"P@1D%30B!I<W-U960@05-5($YO+B`R,#$P+3`V
M+"`F(W@R,#%#.T9A:7(@5F%L=64-"DUE87-U<F5M96YT<R!A;F0@1&ES8VQO
M<W5R97,@*%1O<&EC(#@R,"D@)B-X,C`Q,SL@26UP<F]V:6YG#0I$:7-C;&]S
M=7)E<R!A8F]U="!&86ER(%9A;'5E($UE87-U<F5M96YT<R8C>#(P,40[#0HH
M)B-X,C`Q0SM!4U4R,#$P+3`V)B-X,C`Q1#LI+B!4:&ES('5P9&%T92!P<F]V
M:61E<R!A;65N9&UE;G1S('1O($%30PT*5&]P:6,@.#(P('1H870@<')O=FED
M92!D:7-C;&]S=7)E<R!A8F]U="!P=7)C:&%S97,L('-A;&5S+`T*:7-S=6%N
M8V5S+"!A;F0@<V5T=&QE;65N=',@:6X@=&AE(')O;&P@9F]R=V%R9"!O9B!A
M8W1I=FET>2!I;B!,979E;`T*,R!F86ER('9A;'5E(&UE87-U<F5M96YT<RX@
M5&AO<V4@9&ES8VQO<W5R97,@87)E(&5F9F5C=&EV92!F;W(-"F9I<V-A;"!Y
M96%R<R!B96=I;FYI;F<@869T97(@1&5C96UB97(@,34L(#(P,3`L(&%N9"!F
M;W(@:6YT97)I;0T*<&5R:6]D<R!W:71H:6X@=&AO<V4@9FES8V%L('EE87)S
M+B!4:&4@0V]M<&%N>2!A9&]P=&5D('1H90T*9&ES8VQO<W5R92!R97%U:7)E
M;65N=',@969F96-T:79E($IA;G5A<GD@,2P@,C`Q,2X@5&AE(&%D;W!T:6]N
M(&]F#0IT:&ES('5P9&%T92!D:60@;F]T(&AA=F4@82!M871E<FEA;"!I;7!A
M8W0@=&\@=&AE($-O;7!A;GDF(W@R,#$Y.W,-"F9I;F%N8VEA;"!P;W-I=&EO
M;BX\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"BAZ*28C>$$P.R8C>$$P.R8C
M>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P
M.R8C>$$P.U)E8V5N=&QY#0II<W-U960@86-C;W5N=&EN9R!P<F]N;W5N8V5M
M96YT<R!N;W0@>65T(&%D;W!T960\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@
M<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
M"DEN($UA>2`R,#$Q+"!&05-"(&ES<W5E9"!!4U4@3F\N(#(P,3$M,#0L("8C
M>#(P,4,[1F%I<B!686QU90T*365A<W5R96UE;G0@*%1O<&EC(#@R*2`F(W@R
M,#$S.R!!;65N9&UE;G1S('1O($%C:&EE=F4@0V]M;6]N($9A:7(-"E9A;'5E
M($UE87-U<F5M96YT(&%N9"!$:7-C;&]S=7)E(%)E<75I<F5M96YT<R!I;B!5
M+E,N($=!05`@86YD#0I)1E)3<R8C>#(P,40[("@F(W@R,#%#.T%352`R,#$Q
M+3`T)B-X,C`Q1#LI+B!4:&4@86UE;F1M96YT<R!I;B!T:&ES#0IU<&1A=&4@
M=VEL;"!E;G-U<F4@=&AA="!F86ER('9A;'5E(&AA<R!T:&4@<V%M92!M96%N
M:6YG(&EN(%4N4RX-"D=!05`@86YD(&EN($E&4E,@86YD('1H870@=&AE:7(@
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M:7)E9"!T;R!A9&]P="!T:&ES($%350T*;VX@2F%N=6%R>2`Q+"`R,#$R+B!4
M:&4@0V]M<&%N>2!I<R!E=F%L=6%T:6YG('1H92!G=6ED86YC92!A;F0@9&]E
M<PT*;F]T(&5X<&5C="!I=',@861O<'1I;VX@=&\@:&%V92!A(&UA=&5R:6%L
M(&EM<&%C="!O;B!T:&4-"D-O;7!A;GDF(W@R,#$Y.W,@<F5S=6QT<R!O9B!O
M<&5R871I;VYS+"!F:6YA;F-I86P@<&]S:71I;VX@;W(@8V%S:`T*9FQO=W,N
M/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I);B!*=6YE(#(P,3$L($9!4T(@
M:7-S=65D($%352!.;RX@,C`Q,2TP-2P@0V]M<')E:&5N<VEV92!);F-O;64-
M"B@F(W@R,#%#.T%352`R,#$Q+3`U)B-X,C`Q1#LI+"!W:&EC:"!W:6QL(')E
M<75I<F4@8V]M<&%N:65S('1O#0IP<F5S96YT('1H92!C;VUP;VYE;G1S(&]F
M(&YE="!I;F-O;64@86YD(&]T:&5R(&-O;7!R96AE;G-I=F4@:6YC;VUE#0HH
M)B-X,C`Q0SM/0TDF(W@R,#%$.RD@96ET:&5R(&%S(&]N92!C;VYT:6YU;W5S
M('-T871E;65N="!O<B!A<R!T=V\-"F-O;G-E8W5T:79E('-T871E;65N=',N
M($%352`R,#$Q+3`U(&5L:6UI;F%T97,@=&AE(&]P=&EO;B!T;PT*<')E<V5N
M="!C;VUP;VYE;G1S(&]F($]#22!A<R!P87)T(&]F('1H92!S=&%T96UE;G0@
M;V8@8VAA;F=E<R!I;@T*<W1O8VMH;VQD97)S)B-X,C`Q.3L@97%U:71Y+B!4
M:&4@=7!D871E(&1O97,@;F]T(&-H86YG92!T:&4@:71E;7,-"G=H:6-H(&UU
M<W0@8F4@<F5P;W)T960@:6X@3T-)+"!H;W<@<W5C:"!I=&5M<R!A<F4@;65A
M<W5R960@;W(@=VAE;@T*=&AE>2!M=7-T(&)E(')E8VQA<W-I9FEE9"!T;R!N
M970@:6YC;VUE+B!);B!$96-E;6)E<B`R,#$Q+"!&05-"#0II<W-U960@05-5
M($YO+B`R,#$Q+3$R+"`F(W@R,#%#.T1E9F5R<F%L(&]F('1H92!%9F9E8W1I
M=F4@1&%T92!F;W(-"D%M96YD;65N=',@=&\@=&AE(%!R97-E;G1A=&EO;B!O
M9B!296-L87-S:69I8V%T:6]N<R!O9B!)=&5M<R!/=70@;V8-"D%C8W5M=6QA
M=&5D($]T:&5R($-O;7!R96AE;G-I=F4@26YC;VUE(&EN($%352`R,#$Q+3`U
M)B-X,C`Q1#L-"B@F(W@R,#%#.T%352`R,#$Q+3$R)B-X,C`Q1#LI+"!W:&EC
M:"!D969E<G,@=&AE(')E<75I<F5M96YT(&EN($%350T*,C`Q,2TP-2!T:&%T
M(&-O;7!A;FEE<R!P<F5S96YT(')E8VQA<W-I9FEC871I;VX@861J=7-T;65N
M=',@9F]R#0IE86-H(&-O;7!O;F5N="!O9B!A8V-U;75L871E9"!/0TD@86YD
M($]#22X@05-5(#(P,3$M,#4@=V%S('-E="!T;PT*8F4@969F96-T:79E(&9O
M<B!I;G1E<FEM(&%N9"!A;FYU86P@<&5R:6]D<R!B96=I;FYI;F<@869T97(-
M"D1E8V5M8F5R(#$U+"`R,#$Q+"!B=70@:7,@9&5F97)R960@8GD@05-5(#(P
M,3$M,3(N(%1H92!#;VUP86YY(&1O97,-"FYO="!E>'!E8W0@05-5(#(P,3$M
M,#4@;W(@05-5(#(P,3$M,3(@=&\@:&%V92!A(&UA=&5R:6%L(&EM<&%C="!O
M;@T*:71S(&9I;F%N8VEA;"!S=&%T96UE;G1S(&]R(')E<W5L=',@;V8@;W!E
M<F%T:6]N<RX\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y
M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T
M(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"DEN($1E8V5M8F5R
M(#(P,3$L($9!4T(@:7-S=65D($%352!.;RX@,C`Q,2TQ,2P@)B-X,C`Q0SM$
M:7-C;&]S=7)E<PT*86)O=70@3V9F<V5T=&EN9R!!<W-E=',@86YD($QI86)I
M;&ET:65S)B-X,C`Q1#L@*"8C>#(P,4,[05-5#0HR,#$Q+3$Q)B-X,C`Q1#LI
M+"!W:&EC:"!W:6QL(')E<75I<F4@9&ES8VQO<W5R97,@9F]R(&5N=&ET:65S
M('=I=&@-"F9I;F%N8VEA;"!I;G-T<G5M96YT<R!A;F0@9&5R:79A=&EV97,@
M=&AA="!A<F4@96ET:&5R(&]F9G-E="!O;B!T:&4-"F)A;&%N8V4@<VAE970@
M:6X@86-C;W)D86YC92!W:71H($%30R`R,3`M,C`M-#4@;W(@05-#(#@Q-2TQ
M,"TT-2P@;W(-"G-U8FIE8W0@=&\@82!M87-T97(@;F5T=&EN9R!A<G)A;F=E
M;65N="X@05-5(#(P,3$M,3$@:7,@969F96-T:79E#0IF;W(@:6YT97)I;2!A
M;F0@86YN=6%L('!E<FEO9',@8F5G:6YN:6YG(&]N(&]R(&%F=&5R($IA;G5A
M<GD@,2P-"C(P,3,N(%1H92!#;VUP86YY(&AA<R!N;W0@8V]M<&QE=&5D(&ET
M<R!R979I97<@;V8@05-5(#(P,3$M,3$L(&)U=`T*:70@9&]E<R!N;W0@97AP
M96-T(&ET<R!A9&]P=&EO;B!T;R!H879E(&$@;6%T97)I86P@:6UP86-T(&]N
M('1H90T*0V]M<&%N>28C>#(P,3D[<R!R97-U;'1S(&]F(&]P97)A=&EO;G,L
M(&9I;F%N8VEA;"!P;W-I=&EO;B!O<B!C87-H#0IF;&]W<RX\+W`^#0H\<"!S
M='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[
M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*
M)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@
M34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF)SX-"E1H92!#;VUP86YY(&1O97,@;F]T(&)E;&EE=F4@
M=&AA="!A;GD@;W1H97(@86-C;W5N=&EN9R!S=&%N9&%R9',-"F%N9"!G=6ED
M86YC92!W:71H(&%N(&5F9F5C=&EV92!D871E(&1U<FEN9R!Y96%R(&5N9&5D
M($1E8V5M8F5R(#,Q+`T*,C`Q,2!O<B!I<W-U960@9'5R:6YG(#(P,3$@:&%D
M(&]R(&%R92!E>'!E8W1E9"!T;R!H879E(&$-"G-I9VYI9FEC86YT(&EM<&%C
M="!O;B!T:&4@0V]M<&%N>28C>#(P,3D[<R!C;VYS;VQI9&%T960@9FEN86YC
M:6%L#0IS=&%T96UE;G1S(&%N9"!T:&4@9&ES8VQO<W5R97,@<')E<V5N=&5D
M(&EN('1H92!C;VYS;VQI9&%T960-"F9I;F%N8VEA;"!S=&%T96UE;G1S+CPO
M<#X-"@T*#0H\+V1I=CX\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]
M7TYE>'1087)T7S0P-3)C,3,R7SAC,V)?-#!E.5\X83,T7V-B-S4V.3!C-&)F
M9@T*0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B\T,#4R8S$S,E\X8S-B
M7S0P93E?.&$S-%]C8C<U-CDP8S1B9F8O5V]R:W-H965T<R]3:&5E=#`X+FAT
M;6P-"D-O;G1E;G0M5')A;G-F97(M16YC;V1I;F<Z('%U;W1E9"UP<FEN=&%B
M;&4-"D-O;G1E;G0M5'EP93H@=&5X="]H=&UL.R!C:&%R<V5T/2)U<RUA<V-I
M:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78]
M,T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]
M=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13
M:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I
M<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O
M<G0@:60],T1)1#!%040^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^05-31513
M($%#455)4TE424].4SQB<CX\+W-T<F]N9SX\+W1H/@T*("`@("`@("`\=&@@
M8VQA<W,],T1T:"!C;VQS<&%N/3-$,3XQ,B!-;VYT:',@16YD960\+W1H/@T*
M("`@("`@/"]T<CX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$
M=&@^1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@
M(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI
M9VX],T1T;W`^05-31513($%#455)4TE424].4SPO=&0^#0H@("`@("`@(#QT
M9"!C;&%S<STS1'1E>'0^/&1I=CX-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I.3U1%(#(@)B-X,C`Q,SL@05-3
M1513($%#455)4TE424].4SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*3VX@
M2F%N=6%R>2`W+"`R,#`Y+"!T:&4@0V]M<&%N>28C>$$P.V%C<75I<F5D('-U
M8G-T86YT:6%L;'D@86QL(&]F#0IT:&4@87-S971S(&]W;F5D(&)Y(%%I=69E
M;B!9=6%N+"!(86X@5V%N9R!A;F0@675F96X@6FAA;F<@:6X-"G1H928C>$$P
M.U-H;W5G=6%N9R!#:71Y(%)E;FII87IH=6%N9WII(%9I;&QA9V4@3F]R=&@@
M07)E82`H=&AE#0HF(W@R,#%#.U%I=69E;B!9=6%N+"!(86X@5V%N9R`F86UP
M.R!9=69E;B!::&%N9R!P<F]P97)T>28C>#(P,40[(&]R#0HF(W@R,#%#.T9A
M8W1O<GD@3F\N(#<F(W@R,#%$.RDN(%1H92!1:75F96X@675A;BP@2&%N(%=A
M;F<@86YD(%EU9F5N#0I::&%N9R!P<F]P97)T>2!I;F-L=61E<R!A(#4P+7EE
M87(@;&%N9"!L96%S92!C;W9E<FEN9R`Q+#8Q,2!A8W)E<PT*;V8@<F5A;"!P
M<F]P97)T>2P@=VET:"!T:&4@<F5L871E9"!P<F]D=6-T:6]N(&9A8VEL:71Y
M+"!T:&4-"G!I<&5L:6YE<RP@;W1H97(@<')O9'5C=&EO;B!E<75I<&UE;G0L
M(&%N9"!T:&4@8G5I;&1I;F=S(&QO8V%T960@;VX-"G1H92!P<F]P97)T>2X@
M5&AE('1O=&%L('!U<F-H87-E('!R:6-E(&9O<B!T:&4@86-Q=6ER960@87-S
M971S('=A<PT*)#$P+#8Q-2PP,#`L(&-O;G-I<W1I;F<@;V8@)#$P+#`P,"PP
M,#`@:6X@8V%S:"!A;F0@,S<U+#`P,"!S:&%R97,-"F]F('1H92!#;VUP86YY
M)B-X,C`Q.3MS($-O;6UO;B!3=&]C:R!V86QU960@870@)#8Q-2PP,#`@*&9A
M:7(-"G9A;'5E*2X\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!C96YT
M97([($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!C96YT97([($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@34%21TE..B`P<'0@
M,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M)SX-"CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!
M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@
M<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
M"D]N(%-E<'1E;6)E<B`W+"`R,#`Y+"!T:&4@0V]M<&%N>2!A8W%U:7)E9"!S
M=6)S=&%N=&EA;&QY(&%L;"!O9B!T:&4-"F%S<V5T<R!O=VYE9"!B>2!9=6QI
M86YG($=A;RP@2&%N(%=A;F<@86YD(%%I;F<@66%N9R!I;B!T:&4-"E-H;W5G
M=6%N9R!#:71Y(%EI;F=L:2!4;W=N<VAI<"!"96ES:&%N(%9I;&QA9V4@*'1H
M92`F(W@R,#%#.UEU;&EA;F<-"D=A;RP@2&%N(%=A;F<@)F%M<#L@46EN9R!9
M86YG('!R;W!E<G1Y)B-X,C`Q1#L@;W(@)B-X,C`Q0SM&86-T;W)Y($YO+@T*
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M(&%N9"!1:6YG(%EA;F<@<')O<&5R='D@:6YC;'5D97,@80T*-3`M>65A<B!L
M86YD(&QE87-E(&-O=F5R:6YG(#(L-S(S(&%C<F5S(&]F(')E86P@<')O<&5R
M='DL('=I=&@@=&AE#0IR96QA=&5D('!R;V1U8W1I;VX@9F%C:6QI='DL('1H
M92!P:7!E;&EN97,L(&]T:&5R('!R;V1U8W1I;VX-"F5Q=6EP;65N="P@86YD
M('1H92!B=6EL9&EN9W,@;&]C871E9"!O;B!T:&4@<')O<&5R='DN(%1H92!T
M;W1A;`T*<'5R8VAA<V4@<')I8V4@9F]R('1H92!A8W%U:7)E9"!A<W-E=',@
M=V%S("0Q-BPY,S`L-30X+"!C;VYS:7-T:6YG#0IO9B`D,3$L-3$V+#DV,"!I
M;B!C87-H(&%N9"`Q+#`U-RPS-#(@<VAA<F5S(&]F('1H92!#;VUP86YY)B-X
M,C`Q.3MS#0I#;VUM;VX@4W1O8VL@=F%L=65D(&%T("0U+#0Q,RPU.#@@*&9A
M:7(@=F%L=64I+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I
M9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*3VX@2G5N92`W
M+"`R,#$P+"!T:&4@0V]M<&%N>2!A8W%U:7)E9"!S=6)S=&%N=&EA;&QY(&%L
M;"!O9B!T:&4-"F%S<V5T<R!O=VYE9"!B>2!*:6YJ:6X@3&D@86YD(%%I=7IH
M96X@5V%N9R!I;B!T:&4@4VAO=6=U86YG($-I='D-"EEA;F=K;W4@5&]W;G-H
M:7`@66%N9WIH=6%N9R!6:6QL86=E("AT:&4@)B-X,C`Q0SM*:6YJ:6X@3&D@
M86YD#0I1:75Z:&5N(%=A;F<@<')O<&5R='DF(W@R,#%$.R!O<B`F(W@R,#%#
M.T9A8W1O<GD@3F\N#0HY)B-X,C`Q1#LI+B8C>$$P.TII;FII;B!,:2!W87,@
M86-T:6YG(&EN9&EV:61U86QL>2!A;F0@87,-"D%T=&]R;F5Y+6EN+49A8W0@
M9F]R(&9O=7(@;W1H97(@;W=N97)S(&]F($9A8W1O<GD@.2P@675E;&EA;F<@
M5V%N9RP-"DMU;FUI;F<@5&EA;BP@1V%O;6EN9R!4:6%N(&%N9"!::&EQ:6%N
M9R!796DN(%1H92!*:6YJ:6X@3&D@86YD#0I1:75Z:&5N(%=A;F<@<')O<&5R
M='D@:6YC;'5D97,@82`U,"UY96%R(&QA;F0@;&5A<V4@8V]V97)I;F<@-S4Y
M#0IA8W)E<R!O9B!R96%L('!R;W!E<G1Y+"!W:71H('1H92!R96QA=&5D('!R
M;V1U8W1I;VX@9F%C:6QI='DL('1H90T*<&EP96QI;F5S+"!O=&AE<B!P<F]D
M=6-T:6]N(&5Q=6EP;65N="P@86YD('1H92!B=6EL9&EN9W,@;&]C871E9"!O
M;@T*=&AE('!R;W!E<G1Y+B!4:&4@=&]T86P@<'5R8VAA<V4@<')I8V4@9F]R
M('1H92!A8W%U:7)E9"!A<W-E=',@=V%S#0HD,3,L.3`U+#<Q.2P@8V]N<VES
M=&EN9R!O9B`D,3,L,CDW+#0Y,B!I;B!C87-H(&%N9"`W,"PU-C`@<VAA<F5S
M(&]F#0IT:&4@0V]M<&%N>28C>#(P,3D[<R!#;VUM;VX@4W1O8VL@=F%L=65D
M(&%T("0V,#@L,C(W("AF86ER#0IV86QU92DN/"]P/@T*/'`@<W1Y;&4],T0G
M5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO
M<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@
M,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9B<^#0I/;B!$96-E;6)E<B`S,"P@,C`Q,"P@4T-(0R!A8W%U:7)E9"!S
M=6)S=&%N=&EA;&QY(&%L;"!O9B!T:&4@87-S971S#0IO=VYE9"!B>2!T:&4@
M4W1A=&4M3W!E<F%T960@4VAO=6=U86YG(%%I;F=S:'5I8F\@1F%R;2`H=&AE
M#0HF(W@R,#%#.T-R=61E(%-A;'0@1FEE;&0F(W@R,#%$.RDN)B-X03`[)B-X
M03`[5&AE($-R=61E(%-A;'0@1FEE;&0-"FEN8VQU9&5S(&$@,S`M>65A<B!L
M86YD(&QE87-E(&-O=F5R:6YG(#4V."!A8W)E<R!O9B!C<G5D92!S86QT#0IF
M:65L9"P@87,@=V5L;"!A<R!T:&4@<F5L871E9"!F:7AT=7)E<R!A;F0@9F%C
M:6QI=&EE<R!L;V-A=&5D(&]N#0IT:&4@8W)U9&4@<V%L="!F:65L9"X@5&AE
M('1O=&%L('!U<F-H87-E('!R:6-E(&9O<B!T:&4@0W)U9&4@4V%L=`T*1FEE
M;&0@=V%S("0Q,2PP,C,L,#`P(&EN(&-A<V@@8V]N<VED97)A=&EO;BX\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"E!U<G-U86YT('1O('1H92!L96%S92!C
M;VYT<F%C="!S:6=N960@8GD@4T-(0R!O;B!.;W9E;6)E<B`U+"`R,#$P#0IW
M:71H(%-T871E+4]P97)A=&5D(%-H;W5G=6%N9R!1:6YG<VAU:6)O($9A<FT@
M*'1H90T*)B-X,C`Q0SM,97-S;W(F(W@R,#%$.RDL('1H92!#;VUP86YY(')E
M8V]G;FEZ960@:6X@2F%N=6%R>2`R,#$Q("@Q*2!A#0HR,"UY96%R(&-A<&ET
M86P@;&5A<V4@;V8@82!R96%L('!R;W!E<G1Y(&%D:F%C96YT('1O($9A8W1O
M<GD@3F\N(#$L#0IW:71H('1H92!R96QA=&5D('!R;V1U8W1I;VX@9F%C:6QI
M='DL(&-H86YN96QS(&%N9"!D=6-T<RP@;W1H97(-"G!R;V1U8W1I;VX@97%U
M:7!M96YT(&%N9"!T:&4@8G5I;&1I;F=S(&QO8V%T960@;VX@=&AE('!R;W!E
M<G1Y+`T*=VET:"!A;B!A;FYU86P@<&%Y;65N="!O9B!234(Q+#@W-RPP,#`@
M*&%P<')O>&EM871E;'D@)#(Y-2PS-C4I('5P#0IT;R!$96-E;6)E<B`S,2P@
M,C`S,"!T;R!T:&4@3&5S<V]R+"!A9V=R96=A=&EN9R`D,RPQ,C<L.3$S("AT
M:&4-"G!R97-E;G0@=F%L=64@;V8@=&AE(&UI;FEM=6T@;&5A<V4@<&%Y;65N
M=',I.R!A;F0@*#(I(&$@,C`M>65A<@T*;&%N9"!L96%S92!A;F0@<FEG:'1S
M('1O(&YE=R!E>'1R86-T:6]N('=E;&QS(&]N('=H:6-H('1H90T*869O<F5S
M86ED(')E86P@<')O<&5R='DL('!R;V1U8W1I;VX@9F%C:6QI=&EE<RP@8VAA
M;FYE;',@86YD(&1U8W1S+`T*;W1H97(@<')O9'5C=&EO;B!E<75I<&UE;G0@
M86YD('1H92!B=6EL9&EN9W,@87)E('-I='5A=&5D+"!W:71H(&%N#0IA;FYU
M86P@<&%Y;65N="!O9B!234(S+#$R,RPP,#`@*&%P<')O>&EM871E;'D@)#0Y
M-2PV-3$I('5P('1O#0I$96-E;6)E<B`S,2P@,C`S,"!T;R!T:&4@3&5S<V]R
M+B!4:&4@;&5A<V4@=V%S(&%C8V]U;G1E9"!F;W(@=6YD97(-"D9!4T(@05-#
M(#@T,"TQ,"TR-2`F(W@R,#%#.TQE87-E<R`F(W@R,#$S.R!296-O9VYI=&EO
M;B8C>#(P,40[(&%N9"!T:&4-"F-O<W0@;V8@)#,L,3(W+#DQ,R!W87,@:6YC
M;'5D960@:6X@<')O<&5R='DL('!L86YT(&5Q=6EP;65N="!U;F1E<@T*8V%P
M:71A;"!L96%S92!I;B!T:&4@9FER<W0@<75A<G1E<B!O9B`R,#$Q+CPO<#X-
M"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T
M(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T
M:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/@T*5&AE($-O;7!A;GD@86QS;R!E;FAA;F-E
M9"!T:&4@;F5W('!L86YT(&%N9"!M86-H:6YE<GD@;&5A<V5D(&EN('1H90T*
M9FER<W0@<75A<G1E<B!O9B`R,#$Q(&)Y(&UA:VEN9R!C87!I=&%L(&EM<')O
M=F5M96YT(&EN#0IR96-O;G-T<G5C=&EO;B!A;F0@<F5N;W9A=&EO;B!W;W)K
M(&%T(&$@8V]S="!O9B!A<'!R;WAI;6%T96QY#0HD,RPP-3`L-#`P+"!W:&EC
M:"!W87,@<F5C;W)D960@87,@8G5I;&1I;F=S(&%N9"!P;&%N="!A;F0-"FUA
M8VAI;F5R>2P@9F]R('1H92!O<&5R871I;VX@;V8@=&AE(&%F;W)E<V%I9"!R
M96%L('!R;W!E<G1Y+`T*<')O9'5C=&EO;B!F86-I;&ET:65S+"!C:&%N;F5L
M<R!A;F0@9'5C=',L(&]T:&5R('!R;V1U8W1I;VX-"F5Q=6EP;65N="!A;F0@
M=&AE(&)U:6QD:6YG<R!L;V-A=&5D(&]N('1H92!P<F]P97)T>2X\+W`^#0H\
M<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX-"DEN('1H92!S96-O;F0@<75A<G1E<B!O9B`R
M,#$Q+"!T:&4@0V]M<&%N>2!C87)R:65D(&]U="!E;FAA;F-E;65N=`T*<')O
M:F5C=',@=&\@:71S(&5X:7-T:6YG(&)R;VUI;F4@97AT<F%C=&EO;B!A;F0@
M8W)U9&4@<V%L=`T*<')O9'5C=&EO;B!F86-I;&ET:65S+B!);B!P87)T:6-U
M;&%R+"!T:&4@0V]M<&%N>2!I;F-U<G)E9`T*<F5C;VYS=')U8W1I;VX@86YD
M(')E;F]V871I;VX@=V]R:W,@870@82!C;W-T(&]F(&%P<')O>&EM871E;'D-
M"B0Q,BPS-SDL,34S(&9O<B!I=',@8W)U9&4@<V%L="!F:65L9',@:6X@1F%C
M=&]R>2!.;RX@,2P@-2!T;R`Y+"!A;F0-"F%T(&$@8V]S="!O9B!A<'!R;WAI
M;6%T96QY("0R,"PP.#<L-C`P(&9O<B!I=',@97AT<F%C=&EO;B!W96QL<R!A
M;F0-"G1R86YS;6ES<VEO;B!C:&%N;F5L<R!A;F0@9'5C=',@:6X@1F%C=&]R
M>2!.;RX@,2!T;R`Y+B!4:&4@86)O=F4-"F5N:&%N8V5M96YT('!R;VIE8W1S
M(&AA=F4@97-T:6UA=&5D('5S969U;"!L:79E<R!O9B`U('1O(#@@>65A<G,-
M"F%N9"!A<F4@8V%P:71A;&EZ960@87,@8G5I;&1I;F=S(&%N9"!P;&%N="!A
M;F0@;6%C:&EN97)Y+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU
M<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS
M1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*3VX@1&5C
M96UB97(@,C(L(#(P,3$L('1H92!#;VUP86YY)B-X03`[86-Q=6ER960@<W5B
M<W1A;G1I86QL>2!A;&P-"F]F('1H92!A<W-E=',@;W=N960@8GD@3&EA;F=C
M86D@6FAA;F<@:6X@=&AE)B-X03`[4VAO=6=U86YG($-I='D-"EEA;F=K;W4@
M5&]W;G-H:7`@07)E82`H=&AE("8C>#(P,4,[3&EA;F=C86D@6FAA;F<@<')O
M<&5R='DF(W@R,#%$.R!O<@T*)B-X,C`Q0SM&86-T;W)Y($YO+B`Q,"8C>#(P
M,40[*2X@5&AE($QI86YG8V%I(%IH86YG('!R;W!E<G1Y(&EN8VQU9&5S#0IA
M(#$P+7EE87(@;&%N9"!L96%S92!C;W9E<FEN9R`Q+#<P,"!A8W)E<R!O9B!R
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M96YT('=A<PT*<W5B<V5Q=65N=&QY('-I9VYE9"!I;B!&96)R=6%R>2`R,#$R
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M,#`P("AA<'!R;WAI;6%T96QY#0HD,3`Y+#$Y,BD@=7`@=&\@1&5C96UB97(@
M,S$L(#(P,C$N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I%86-H(&]F('1H
M92!B<F]M:6YE(&9A8W1O<FEE<R!A;F0@0W)U9&4@4V%L="!&:65L9"!A8W%U
M:7-I=&EO;G,-"F1E<V-R:6)E9"!A8F]V92!W87,@;F]T(&EN(&]P97)A=&EO
M;B!W:&5N('1H92!#;VUP86YY(&%C<75I<F5D('1H90T*87-S971S+B8C>$$P
M.R8C>$$P.U1H92!O=VYE<G,@;V8@96%C:"!O9B!T:&4@8G)O;6EN92!F86-T
M;W)I97,@9&ED#0IN;W0@:&]L9"!T:&4@<')O<&5R(&QI8V5N<V4@9F]R('1H
M92!E>'!L;W)A=&EO;B!A;F0@<')O9'5C=&EO;B!O9@T*8G)O;6EN92P@86YD
M('!R;V1U8W1I;VX@870@96%C:"!O9B!T:&4@87-S971S(&%C<75I<F5D(&AA
M9`T*<')E=FEO=7-L>2!B965N(&AA;'1E9"!B>2!T:&4@9V]V97)N;65N="XF
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M=VET:"!R97-P96-T('1O#0I&86-T;W)Y($YO+B`Q,"P@=&AE(&%S<V5T<R!H
M860@;F]T(&)E96X@;W!E<F%T:6]N86P@9F]R(&UO<F4@=&AA;@T*<VEX(&UO
M;G1H<RX@5&AE($-R=61E(%-A;'0@1FEE;&0@:&%D(&YO="!B965N(&EN(&]P
M97)A=&EO;B!F;W(@<VEX#0IM;VYT:',N(%1H92!#;VUP86YY(')E8V]R9&5D
M('1H92!A8F]V92!T<F%N<V%C=&EO;G,@87,@<'5R8VAA<V4@;V8-"F%S<V5T
M<RX\+W`^#0H-"@T*/"]D:78^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\
M+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM
M+2TM/5].97AT4&%R=%\T,#4R8S$S,E\X8S-B7S0P93E?.&$S-%]C8C<U-CDP
M8S1B9F8-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-#`U,F,Q,S)?
M.&,S8E\T,&4Y7SAA,S1?8V(W-38Y,&,T8F9F+U=O<FMS:&5E=',O4VAE970P
M.2YH=&UL#0I#;VYT96YT+51R86YS9F5R+45N8V]D:6YG.B!Q=6]T960M<')I
M;G1A8FQE#0I#;VYT96YT+51Y<&4Z('1E>'0O:'1M;#L@8VAA<G-E=#TB=7,M
M87-C:6DB#0H-"CQH=&UL/@T*("`\:&5A9#X-"B`@("`\345402!H='1P+65Q
M=6EV/3-$0V]N=&5N="U4>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R
M<V5T/75T9BTX)SX\<V-R:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C
M/3-$4VAO=RYJ<SXO*B!$;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO
M<V-R:7!T/CPO:&5A9#X-"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$
M<F5P;W)T(&ED/3-$240P14%$/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@
M8VQA<W,],T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG/DE.
M5D5.5$]22453/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1H(&-O;'-P86X],T0Q/C$R($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@
M("`\+W1R/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y$
M96,N(#,Q+"`R,#$Q/&)R/CPO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R
M(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS
M1'1O<#Y)3E9%3E1/4DE%4SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/&1I=CX-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!
M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9B<^#0I.3U1%(#,@)B-X,C`Q,SL@24Y614Y43U))15,\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"DEN=F5N=&]R:65S(&-O;G-I<W0@;V8Z
M/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQT86)L92!S='EL93TS1"=724142#H@
M,3`P)3L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9B<@8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,#X-"CQT<B!S='EL
M93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9#XF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O
M;&ED.R!415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0V/D%S)B-X03`[
M;V8F(WA!,#M$96-E;6)E<B8C>$$P.S,Q+#PO=&0^#0H\=&0@<W1Y;&4],T0G
M4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@
M<W1Y;&4],T0G5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P
M="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,CXR,#$Q
M/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@
M,7!T('-O;&ED.R!415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/C(P
M,3`\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
M>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,+4%,24=.
M.B!B;W1T;VTG/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R
M/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS
M1#(^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S
M='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!6
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M(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!72414
M2#H@,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT
M.R!724142#H@,3`E)SXW-CDL.#$W/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\+W1R/@T*
M/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M0T],3U(Z('=H:71E.R!615)424-!
M3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T)SY&:6YI<VAE9"!G;V]D<SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXS+#8P-"PR-#<\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\
M=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
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M3D<M0D]45$]-.B`Q<'0G/D%L;&]W86YC92!F;W(-"F]B<V]L971E(&%N9"!S
M;&]W+6UO=FEN9R!I;G9E;G1O<FEE<SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$
M1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="
M3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE
M9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-
M.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B@Q-"PX
M-S$\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)
M3D<M0D]45$]-.B`Q<'0G/BD\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M
M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52
M+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!L969T)SX-
M"B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA
M8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!R:6=H="<^#0HH-BPV.3,\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]4
M5$]-.B`Q<'0G/BD\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/
M54Y$+4-/3$]2.B!W:&ET93L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\
M=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#(N-7!T)SX\+W1D/@T*/'1D
M('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B
M;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)#PO=&0^#0H\=&0@<W1Y;&4],T0G
M0D]21$52+4)/5%1/33H@8FQA8VL@,BXU<'0@9&]U8FQE.R!415A4+4%,24=.
M.B!R:6=H="<^#0HT+#0S-RPY-S(\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T
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M8FQE/@T*/"]D:78^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*
M("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].
M97AT4&%R=%\T,#4R8S$S,E\X8S-B7S0P93E?.&$S-%]C8C<U-CDP8S1B9F8-
M"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-#`U,F,Q,S)?.&,S8E\T
M,&4Y7SAA,S1?8V(W-38Y,&,T8F9F+U=O<FMS:&5E=',O4VAE970Q,"YH=&UL
M#0I#;VYT96YT+51R86YS9F5R+45N8V]D:6YG.B!Q=6]T960M<')I;G1A8FQE
M#0I#;VYT96YT+51Y<&4Z('1E>'0O:'1M;#L@8VAA<G-E=#TB=7,M87-C:6DB
M#0H-"CQH=&UL/@T*("`\:&5A9#X-"B`@("`\345402!H='1P+65Q=6EV/3-$
M0V]N=&5N="U4>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R<V5T/75T
M9BTX)SX\<V-R:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@<W)C/3-$4VAO
M=RYJ<SXO*B!$;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J+SPO<V-R:7!T
M/CPO:&5A9#X-"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S/3-$<F5P;W)T
M(&ED/3-$240P14%$/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,]
M,T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG/E!215!!240@
M3$%.1"!,14%313QB<CX\+W-T<F]N9SX\+W1H/@T*("`@("`@("`\=&@@8VQA
M<W,],T1T:"!C;VQS<&%N/3-$,3XQ,B!-;VYT:',@16YD960\+W1H/@T*("`@
M("`@/"]T<CX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^
M1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX]
M,T1T;W`^4%)%4$%)1"!,04Y$($Q%05-%/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\9&EV/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"DY/5$4@-"`F(W@R,#$S.R!04D5004E$
M($Q!3D0@3$5!4T4\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T
M:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G
M5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q
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M92!I<R!A;6]R=&EZ960@;VX@82!S=')A:6=H="!L:6YE#0IB87-I<RX\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"D1U<FEN9R!T:&4@>65A<B!E;F1E9"!$
M96-E;6)E<B`S,2P@,C`Q,2P@86UO<G1I>F%T:6]N(&]F('!R97!A:60-"FQA
M;F0@;&5A<V4@=&]T86QE9"`D-#(T+#0V-RP@=VAI8V@@=V%S(')E8V]R9&5D
M(&%S(&-O<W0@;V8@;F5T#0IR979E;G5E+B!$=7)I;F<@=&AE('EE87(@96YD
M960@1&5C96UB97(@,S$L(#(P,3`L(&%M;W)T:7IA=&EO;B!O9@T*<')E<&%I
M9"!L86YD(&QE87-E('1O=&%L960@)#$P-"PY-#`L(&]F('=H:6-H("0Q,#0L
M,S0Y(&%N9"`D-3DQ#0IW97)E(')E8V]R9&5D(&%S(&-O<W0@;V8@;F5T(')E
M=F5N=64@86YD(&%D;6EN:7-T<F%T:79E(&5X<&5N<V5S+`T*<F5S<&5C=&EV
M96QY+B!$=7)I;F<@=&AE('EE87(@96YD960@1&5C96UB97(@,S$L(#(P,#DL
M(&%M;W)T:7IA=&EO;@T*;V8@<')E<&%I9"!L86YD(&QE87-E('1O=&%L960@
M)#4W+#DX-2P@;V8@=VAI8V@@)#4W+#,Y."!A;F0@)#4X-PT*=V5R92!R96-O
M<F1E9"!A<R!C;W-T(&]F(&YE="!R979E;G5E(&%N9"!A9&UI;FES=')A=&EV
M92!E>'!E;G-E<RP-"G)E<W!E8W1I=F5L>2X\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P
M/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P
M<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF)SX-"E1H92!#;VUP86YY(&AA<R!T:&4@<FEG:'1S('1O('5S92!C97)T
M86EN('!A<F-E;',@;V8@;&%N9"!L;V-A=&5D#0II;B!3:&]U9W5A;F<L('1H
M92!04D,L('1H<F]U9V@@;&5A<V4@86=R965M96YT<R!S:6=N960@=VET:"!L
M;V-A;`T*=&]W;G-H:7!S+B8C>$$P.R8C>$$P.U-U8V@@<&%R8V5L<R!O9B!L
M86YD(&%R92!C;VQL96-T:79E;'D@;W=N960-"F)Y(&QO8V%L('1O=VYS:&EP
M<R!A;F0@86-C;W)D:6YG;'DL('1H92!#;VUP86YY(&-O=6QD(&YO="!O8G1A
M:6X-"FQA;F0@=7-E(')I9VAT<R!C97)T:69I8V%T97,@;VX@=&AE<V4@<&%R
M8V5L<R!O9@T*;&%N9"XF(WA!,#LF(WA!,#M4:&4@<&%R8V5L<R!O9B!L86YD
M(&]F('=H:6-H('1H92!#;VUP86YY(&-O=6QD(&YO=`T*;V)T86EN(&QA;F0@
M=7-E(')I9VAT<R!C97)T:69I8V%T97,@8V]V97)S(&$@=&]T86P@;V8-"F%P
M<')O>&EM871E;'DF(WA!,#LQ,#$N-3(@<W%U87)E(&MI;&]M971E<G,@;V8@
M86=G<F5G871E(&-A<G)Y:6YG#0IV86QU92!O9B`D-S8V+#<T."!A;F0F(WA!
M,#MA<'!R;WAI;6%T96QY)B-X03`[.3(N,S(@<W%U87)E#0IK:6QO;65T97)S
M)B-X03`[<W%U87)E(&UE=&5R<R!O9B!A9V=R96=A=&4@8V%R<GEI;F<@=F%L
M=64@;V8-"B0W-#,L,C<U(&%S(&%T($1E8V5M8F5R(#,Q+"`R,#$Q(&%N9"`R
M,#$P+"!R97-P96-T:79E;'DN/"]P/@T*#0H-"CPO9&EV/CQS<&%N/CPO<W!A
M;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\+W1A8FQE/@T*("`\+V)O9'D^
M#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?-#`U,F,Q,S)?.&,S8E\T
M,&4Y7SAA,S1?8V(W-38Y,&,T8F9F#0I#;VYT96YT+4QO8V%T:6]N.B!F:6QE
M.B\O+T,Z+S0P-3)C,3,R7SAC,V)?-#!E.5\X83,T7V-B-S4V.3!C-&)F9B]7
M;W)K<VAE971S+U-H965T,3$N:'1M;`T*0V]N=&5N="U4<F%N<V9E<BU%;F-O
M9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N=&5N="U4>7!E.B!T97AT+VAT
M;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@
M("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$
M)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP="!T>7!E/3-$=&5X
M="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@3F]T(%)E;6]V92!4
M:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@(#QB;V1Y/@T*("`@
M(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS1$E$,$5!1#X-"B`@("`@(#QT
M<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@8V]L<W!A;CTS1#$@<F]W<W!A
M;CTS1#(^/'-T<F]N9SY04D]015)462P@4$Q!3E0@04Y$($5154E0345.5"P@
M3D54/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H
M(&-O;'-P86X],T0Q/C$R($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y$96,N(#,Q
M+"`R,#$Q/&)R/CPO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S
M/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y0
M4D]015)462P@4$Q!3E0@04Y$($5154E0345.5"P@3D54/"]T9#X-"B`@("`@
M("`@/'1D(&-L87-S/3-$=&5X=#X\9&EV/@T*/'`@<W1Y;&4],T0G5$585"U!
M3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"DY/5$4@-2`F(W@R,#$S
M.R!04D]015)462P@4$Q!3E0@04Y$($5154E0345.5"P@3D54/"]P/@T*/'`@
M<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
M"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[
M($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9B<^#0I0<F]P97)T>2P@<&QA;G0@86YD(&5Q=6EP;65N
M="P@;F5T(&-O;G-I<W0@;V8@=&AE(&9O;&QO=VEN9SH\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X
M03`[/"]P/@T*/'1A8FQE('-T>6QE/3-$)U=)1%1(.B`Q,#`E.R!&3TY4.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL<W!A8VEN
M9STS1#`@8V5L;'!A9&1I;F<],T0P/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,
M+4%,24=..B!B;W1T;VTG/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)
M1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#8^07,F(WA!,#MO9B8C>$$P.T1E8V5M
M8F5R)B-X03`[,S$L/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/
M33H@,7!T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"=615)4
M24-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4
M+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/C(P,3$\+W1D/@T*/'1D('-T
M>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%
M6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^,C`Q,#PO=&0^#0H\=&0@
M<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO
M='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR
M-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^070@8V]S=#H\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+
M1U)/54Y$+4-/3$]2.B!W:&ET93L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU,1494
M.B`R-W!T.R!724142#H@-S0E)SX-"DUI;F5R86P@<FEG:'1S/"]T9#X-"CQT
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M1%1(.B`Q)2<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG
M:'0[(%=)1%1(.B`Q,"4G/C8L,#$Q+#<Y,#PO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/"]T
M<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U
M-2PR,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS
M1"=0041$24Y'+4Q%1E0Z(#(W<'0G/D)U:6QD:6YG<SPO=&0^#0H\=&0^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXT,"PY
M-S0L-3(X/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF
M(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!R:6=H="<^,S@L.#<X+#(R-3PO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y
M;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=.
M.B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!
M1$1)3D<M3$5&5#H@,C=P="<^4&QA;G0@86YD#0IM86-H:6YE<GD\+W1D/@T*
M/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H
M="<^,3,V+#@V,BPS.#,\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXX."PQ-#DL,#8P/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/"]T<CX-
M"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR
M,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T.R!0041$24Y'+4Q%1E0Z(#(W<'0G/DUO=&]R#0IV
M96AI8VQE<SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(')I9VAT)SXW+#`R-#PO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*
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M3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P=#L@4$%$1$E.1RU,1494.B`R
M-W!T)SX-"D9U<FYI='5R92P@9FEX='5R97,@86YD(&]F9FEC92!E<75I<&UE
M;G0\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@
M,7!T('-O;&ED.R!415A4+4%,24=..B!L969T)SX-"B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!4
M15A4+4%,24=..B!R:6=H="<^#0HT+#`U-RPS-38\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C
M:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[
M(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C,L.#4P+#4R-3PO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^
M)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#
M3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O
M;2<^#0H\=&0^5&]T86P\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H="<^,3@X+#(R,"PP-#$\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXQ
M,S8L.#DV+#(X,SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.
M1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q
M<'0G/DQE<W,Z(&%C8W5M=6QA=&5D#0ID97!R96-I871I;VX@86YD(&%M;W)T
M:7IA=&EO;CPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B
M;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L
M:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B@T,2PP,3DL,S`Q/"]T9#X-"CQT
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M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q
M<'0G/BD\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/
M3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M
M)SX-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,BXU<'0G/DYE="!B
M;V]K('9A;'5E/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@
M,BXU<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/
M33H@8FQA8VL@,BXU<'0@9&]U8FQE.R!415A4+4%,24=..B!L969T)SX-"B0\
M+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N-7!T
M(&1O=6)L93L@5$585"U!3$E'3CH@<FEG:'0G/@T*,30W+#(P,"PW-#`\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]4
M5$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'
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M1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CPO='(^#0H\+W1A
M8FQE/@T*/'`@<W1Y;&4],T0G34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T
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M>2!O=VYE<G-H:7`@8V5R=&EF:6-A=&5S(&]V97(@=&AE<V4@8G5I;&1I;F=S
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M<R!A="!$96-E;6)E<B`S,2P@,C`Q,2!A;F0@,C`Q,"P@<F5S<&5C=&EV96QY
M+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)
M3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=.
M.B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*26X@=&AE(&9I<V-A;"!Y96%R
M(#(P,3$L('1H92!#;VUP86YY(')E8VQA<W-I9FEE9"!C97)T86EN#0IP<F]T
M96-T:79E('-H96QL<R!F;W(@8W)U9&4@<V%L="!P86YS('=I=&@@8V]S="!O
M9B`D,BPR,#0L-C`P#0HH4DU",30N-B!M:6QL:6]N*2P@<')E=FEO=7-L>2!I
M;F-L=61E9"!I;B!B=6EL9&EN9RP@:6YT;R!P;&%N="!A;F0-"F5Q=6EP;65N
M="!F;W(@8V]N<VES=&5N="!C;&%S<VEF:6-A=&EO;B!W:71H(&]T:&5R('-I
M;6EL87(@87-S971S+@T*0V]M<&%R871I=F4@9FEG=7)E<R!F;W(@=&AE(&9I
M<V-A;"!Y96%R(#(P,3`@=V5R92!R96-L87-S:69I960@=&\-"F-O;F9O<FT@
M=&\@=&AE(&-U<G)E;G0@>65A<B!P<F5S96YT871I;VXN(%1H97)E(&ES(&YO
M(&EM<&%C="!O;B!T:&4-"G-T871E;65N=',@;V8@:6YC;VUE(&%S(&5S=&EM
M871E9"!U<V5F=6P@;&EV97,@;V8@=&AE(&%S<V5T<R!B96EN9PT*<F5C;&%S
M<VEF:65D('=A<R!N;W0@8VAA;F=E9"X\+W`^#0H\<"!S='EL93TS1"=-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"D1U<FEN9R!T:&4@>65A<B!E
M;F1E9"!$96-E;6)E<B`S,2P@,C`Q,2P@9&5P<F5C:6%T:6]N(&%N9`T*86UO
M<G1I>F%T:6]N(&5X<&5N<V4@=&]T86QE9"`D,3<L-#,R+#,X,BP@;V8@=VAI
M8V@@)#$V+#,T."PU,#D@86YD#0HD,2PP.#,L.#<S('=E<F4@<F5C;W)D960@
M87,@8V]S="!O9B!N970@<F5V96YU92!A;F0@861M:6YI<W1R871I=F4-"F5X
M<&5N<V5S+"!R97-P96-T:79E;'DN/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!
M3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P
M>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^
M#0I$=7)I;F<@=&AE('EE87(@96YD960@1&5C96UB97(@,S$L(#(P,3`L(&1E
M<')E8VEA=&EO;B!A;F0-"F%M;W)T:7IA=&EO;B!E>'!E;G-E('1O=&%L960@
M)#$Q+#`Y-RPQ-#D@;V8@=VAI8V@@)#$P+#(S-BPR,S`@86YD#0HD.#8P+#DQ
M.2!W97)E(')E8V]R9&5D(&%S(&-O<W0@;V8@;F5T(')E=F5N=64@86YD(&%D
M;6EN:7-T<F%T:79E#0IE>'!E;G-E<RP@<F5S<&5C=&EV96QY+CPO<#X-"CQP
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P
M>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^
M#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y
M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/@T*1'5R:6YG('1H92!Y96%R(&5N9&5D($1E8V5M
M8F5R(#,Q+"`R,#`Y+"!D97!R96-I871I;VX@86YD#0IA;6]R=&EZ871I;VX@
M97AP96YS92!T;W1A;&5D("0W+#$Y.2PV-3@L(&]F('=H:6-H("0W+#`Q.2PV
M,#@@86YD#0HD,3@P+#`U,"!W97)E(')E8V]R9&5D(&%S(&-O<W0@;V8@;F5T
M(')E=F5N=64@86YD(&%D;6EN:7-T<F%T:79E#0IE>'!E;G-E<RP@<F5S<&5C
M=&EV96QY+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<CL@
M34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&-E;G1E<CL@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP
M('-T>6QE/3-$)TU!4D=)3CH@,'!X)SX\+W`^#0H\<"!S='EL93TS1"=-05)'
M24XZ(#!P>"<^)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"DEN($IU;F4@,C`Q,"P@=&AE($-O
M;7!A;GD@8V]M<&QE=&5D('1H92!C;VYS=')U8W1I;VX@;V8@80T*<')O9'5C
M=&EO;B!L:6YE(&9O<B!W87-T97=A=&5R('1R96%T;65N="!C:&5M:6-A;"!A
M9&1I=&EV97,@;&EN92!A=`T*82!T;W1A;"!C;W-T(&]F(%)-0C8P(&UI;&QI
M;VX@*&5Q=6EV86QE;G0@=&\@)#@L.#,X+#`P,"DN)B-X03`[($$-"G)E=&5N
M=&EO;B!A;6]U;G0@;V8@)#0U,RPP,#`@87,@;V8@1&5C96UB97(@,S$L(#(P
M,3`L(')E<')E<V5N=&EN9PT*-24@;V8@=&AE('1O=&%L(&-O<W0@=VEL;"!B
M92!P86ED('1O(%-H;W5G=6%N9R!#:71Y(%-H96YG:W5N#0I#;VYS=')U8W1I
M;VX@0V\N+"!,=&0N('5P;VX@;VYE('EE87(@869T97(@=&AE(&-O;7!L971I
M;VX@9&%T92X\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X
M03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%2
M1TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX-"DEN(&UI9"U-87D@,C`Q,2P@=&AE(&QO8V%L(%!20R!G
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M#0I&86-T;W)Y($YO+B`T('=A<R!A<'!R;WAI;6%T96QY("0V+#(P-RPY,#$L
M('=H:6-H('=A<R!C;VUP;&5T960@86YD#0IR97-T87)T960@;W!E<F%T:6]N
M<R!I;B!$96-E;6)E<B`R,#$Q+B8C>$$P.T$@<F5N=&%L(&%G<F5E;65N="!W
M87,-"G-U8G-E<75E;G1L>2!S:6=N960@:6X@1F5B<G5A<GD@,C`Q,B!W:71H
M('1H92!L;V-A;"!4;W=N<VAI<`T*9V]V97)N;65N="!F;W(@=&AE(&QE87-E
M(&]F('1H92!P87)C96P@;V8@;&%N9"!W:71H(&%N(&%N;G5A;`T*<&%Y;65N
M="!O9B!234(Q,#`L,#`P("AA<'!R;WAI;6%T96QY("0Q-2PX-S$I('5P('1O
M($1E8V5M8F5R(#,Q+`T*,C`S,2X\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@
M<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
M"E1H92!O<&5R871I;VYS(&]F('1H92!O<FEG:6YA;"!&86-T;W)Y($YO+B`T
M('=E<F4@<W1O<'!E9"!I;B!E87)L>0T*2G5L>2`R,#$Q('1O(&-O;W!E<F%T
M92!W:71H('1H92!D96UO;&ET:6]N(&]F('1H92!F86-T;W)Y(&%N9"!T:&4-
M"G)E;&]C871I;VX@;V8@=7-E9G5L('!L86YT(&%N9"!M86-H:6YE<GD@=&\@
M=&AE(&YE=R!F86-T;W)Y+B!&;W(-"G1H;W-E(&9I>&5D(&%S<V5T<R!T:&%T
M(&-O=6QD(&YO="!B92!R96QO8V%T960@=&\@=&AE(&YE=R!F86-T;W)Y+`T*
M=&AE($-O;7!A;GD@<F5C;V=N:7IE9"!W<FET92UO9F9S(&]F("0Q+#,X-"PT
M-#,@:6X@=&AE('-E8V]N9`T*<75A<G1E<B!O9B`R,#$Q(&%N9"!I;F-L=61E
M9"!T:&4@:6UP86ER;65N="!L;W-S(&EN('=R:71E+6]F9B`O#0II;7!A:7)M
M96YT(&]N('!R;W!E<G1Y+"!P;&%N="!A;F0@97%U:7!M96YT+B!!('-U;2!O
M9B`D,2PS-#`L,#(V#0IW87,@<F5C96EV960@9G)O;2!T:&4@;&]C86P@4%)#
M(&=O=F5R;FUE;G0@:6X@=&AE('1H:7)D('%U87)T97(@;V8-"C(P,3$@87,@
M8V]M<&5N<V%T:6]N(&9O<B!T:&4@9&5M;VQI=&EO;B!O9B!O<FEG:6YA;"!&
M86-T;W)Y($YO+B`T#0IA;F0@:6YC;'5D960@:6X@=&AE(&EN8V]M92!S=&%T
M96UE;G0@87,@;W1H97(@;W!E<F%T:6YG(&EN8V]M92X\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X
M03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%2
M1TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX-"D)E<VED97,@=&AE(&%S<V5T<R!A8W%U:7-I=&EO;B!A
M<R!M96YT:6]N960@:6X@3F]T92`R+"!T:&4@0V]M<&%N>0T*8V%R<FEE9"!O
M=70@=&AE(&9O;&QO=VEN9R!M86IO<B!E;FAA;F-E;65N="!P<F]J96-T<R!T
M;R!T:&4-"F5X:7-T:6YG(&9A8VEL:71I97,@:6X@,C`Q,3H\+W`^#0H\<"!S
M='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[
M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*
M)B-X03`[/"]P/@T*/'1A8FQE('-T>6QE/3-$)TU!4D=)3BU43U`Z(#!P=#L@
M1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@34%2
M1TE.+4)/5%1/33H@,'!T)R!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<]
M,T0P('=I9'1H/3-$,3`P)3X-"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'
M3CH@=&]P)SX-"CQT9"!S='EL93TS1"=724142#H@,'!X)SX\+W1D/@T*/'1D
M('-T>6QE/3-$)U=)1%1(.B`P+C(U:6XG/BAA*3PO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@:G5S=&EF>2<^26X@=&AE(&9I<G-T('%U87)T97(@
M;V8@,C`Q,2P@=&AE#0I#;VUP86YY(&-A<G)I960@;W5T(&5N:&%N8V5M96YT
M<R!T;R!T:&4@;F5W('!R;W!E<G1Y+"!P;&%N="!A;F0-"FUA8VAI;F5R>2!A
M8W%U:7)E9"!U;F1E<B!F:6YA;F-E(&QE87-E(&EN($IA;G5A<GD@,C`Q,2`H
M<V5E($YO=&4@-BD-"F)Y(&UA:VEN9R!C87!I=&%L(&EM<')O=F5M96YT(&EN
M(')E8V]N<W1R=6-T:6]N(&%N9"!R96YO=F%T:6]N('=O<FL-"F%T(&$@8V]S
M="!O9B!A<'!R;WAI;6%T96QY("0S+#`U,"PT,#`L('=H:6-H('=A<R!R96-O
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M(W@R,#%#.T)R86YC:"`Q(&]F($9A8W1O<GD@3F\N(#$F(W@R,#%$.RDN(%1H
M92!C87!I=&%L#0II;7!R;W9E;65N="!W;W)K<R!T;R!T:&4@8G5I;&1I;F=S
M(&%N9"!P;&%N="!A;F0@97%U:7!M96YT(&AA=F4-"F5S=&EM871E9"!U<V5F
M=6P@;&EV97,@;V8@,34M,C`@>65A<G,@86YD(#4M."!Y96%R<RP-"G)E<W!E
M8W1I=F5L>2X\+W1D/@T*/"]T<CX-"CPO=&%B;&4^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@@,'!T(#`N,C5I
M;CL@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^
M#0HF(WA!,#L\+W`^#0H\=&%B;&4@<W1Y;&4],T0G34%21TE.+51/4#H@,'!T
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!-
M05)'24XM0D]45$]-.B`P<'0G(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D9&EN
M9STS1#`@=VED=&@],T0Q,#`E/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,+4%,
M24=..B!T;W`G/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`P<'@G/CPO=&0^#0H\
M=&0@<W1Y;&4],T0G5TE$5$@Z(#`N,C5I;B<^*&(I/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y)SY);B!L871E($IU;F4@,C`Q,2P@
M=&AE($-O;7!A;GD-"F-O;7!L971E9"!E;FAA;F-E;65N="!P<F]J96-T<R!T
M;R!I=',@8W)U9&4@<V%L="!F:65L9',L(&5X=')A8W1I;VX-"G=E;&QS(&%N
M9"!T<F%N<VUI<W-I;VX@8VAA;FYE;',@86YD(&1U8W1S(&%T(&$@=&]T86P@
M8V]S="!O9@T*4DU",C$P+#$Q,RPV,#`@*&5Q=6EV86QE;G0@=&\@)#,R+#0V
M-BPW-3,I+"!W:&EC:"!W97)E(')E8V]R9&5D(&%S#0IP;&%N="!A;F0@;6%C
M:&EN97)Y+B!);B!P87)T:6-U;&%R+"!T:&4@0V]M<&%N>2!I;F-U<G)E9`T*
M<F5C;VYS=')U8W1I;VX@86YD(')E;F]V871I;VX@=V]R:W,@870@82!C;W-T
M(&]F(&%P<')O>&EM871E;'D-"B0Q,BPS-SDL,34S(&9O<B!I=',@97AI<W1I
M;F<@8W)U9&4@<V%L="!F:65L9',@:6X@1F%C=&]R>2!.;RX@,2P@-0T*=&\@
M.2P@870@8V]S=',@;V8@87!P<F]X:6UA=&5L>2`D,3(L,S8Q+#8P,"!F;W(@
M:71S(&5X=')A8W1I;VX-"G=E;&QS(&EN($9A8W1O<GD@3F\N(#$@=&\@.2P@
M86YD("0W+#<R-BPP,#`@9F]R(&ET<R!T<F%N<VUI<W-I;VX-"F-H86YN96QS
M(&%N9"!D=6-T<RP@<F5S<&5C=&EV96QY+"!I;B!&86-T;W)Y($YO+B`Q('1O
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M;',@86YD(&1U8W1S+`T*<F5P;&%C:6YG(&5R;V1E9"!P<F]T96-T:79E('-H
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M+#8S,BPP,#0-"F%N9"`D,2PS,34L-#<V+"!R97-P96-T:79E;'DL('=E<F4@
M<F5P;&%C960@9'5R:6YG('1H92!E;FAA;F-E;65N=`T*<')O:F5C=',L('=R
M:71E+6]F9G,@;V8@=&AE('-A;64@86UO=6YT<RP@=V5R92!M861E(&EN('1H
M92!S96-O;F0-"G%U87)T97(@;V8@,C`Q,2!A;F0@:6YC;'5D960@:6X@=W)I
M=&4M;V9F("\@:6UP86ER;65N="!O;B!P<F]P97)T>2P-"G!L86YT(&%N9"!E
M<75I<&UE;G0N(%1H92!#;VUP86YY(&%L<V\@<F5C;V=N:7IE9"!W<FET92UO
M9F9S(&]F#0IC97)T86EN(&5R;V1E9"!P<F]T96-T:79E('-H96QL<R!F;W(@
M=')A;G-M:7-S:6]N(&-H86YN96QS(&%N9`T*9'5C=',L('=I=&AO=70@96YH
M86YC96UE;G0@=V]R:W,L('=I=&@@;F5T(&)O;VL@=F%L=65S(&]F("0W-#DL
M.3DY+`T*9'5R:6YG('1H92!R96=U;&%R(&EN<W!E8W1I;VX@;V8@9FEX960@
M87-S971S+"!A;F0@:6YC;'5D960@:6X-"G=R:71E+6]F9B`O(&EM<&%I<FUE
M;G0@;VX@<')O<&5R='DL('!L86YT(&%N9"!E<75I<&UE;G0N/"]T9#X-"CPO
M='(^#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X(#!P="`P+C(U:6X[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'1A
M8FQE('-T>6QE/3-$)TU!4D=)3BU43U`Z(#!P=#L@1D].5#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9CL@34%21TE.+4)/5%1/33H@,'!T
M)R!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<],T0P('=I9'1H/3-$,3`P
M)3X-"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'3CH@=&]P)SX-"CQT9"!S
M='EL93TS1"=724142#H@,'!X)SX\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(
M.B`P+C(U:6XG/BAC*3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>2<^26X@;6ED+4IU;F4@,C`Q,2P@=&AE($-O;7!A;GD-"G-W:71C
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M(&-H96UI8V%L(&%D9&ET:79E<RX@06X@:6UP86ER;65N=`T*;V8@)#$L.#`U
M+#4Y."!W87,@;6%D92!I;B!T:&4@<V5C;VYD('%U87)T97(@;V8@,C`Q,2!A
M;F0@:6YC;'5D960-"FEN('=R:71E+6]F9B`O(&EM<&%I<FUE;G0@;VX@<')O
M<&5R='DL('!L86YT(&%N9"!E<75I<&UE;G0N/"]T9#X-"CPO='(^#0H\+W1A
M8FQE/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I%;FAA;F-E;65N=',@;V8@<')O
M=&5C=&EV92!S:&5L;',@=&\@=&AE(&-R=61E('-A;'0@9FEE;&1S+`T*97AT
M<F%C=&EO;B!W96QL<R!A;F0@=')A;G-M:7-S:6]N(&-H86YN96QS(&%N9"!D
M=6-T<R!A<F4@8V%R<FEE9`T*;W5T(&5V97)Y(#4@=&\@."!Y96%R<RP@9&5P
M96YD:6YG(&]N('1H92!N965D('1O(&1O('-O+"!T:&%T(&ES+`T*=VAE;B!R
M96=U;&%R(')E<&%I<B!A;F0@;6%I;G1E;F%N8V4@=V]R:R!I9&5N=&EF:65S
M('1H92!R97!L86-E;65N=`T*;F5E9',N(%1H92!E<F]S:6]N(')A=&4@;V8@
M<')O=&5C=&EO;B!S:&5L;',@:7,@869F96-T960@8GD-"F1I9F9E<F5N="!W
M96%T:&5R(&-O;F1I=&EO;G,@86YD('1H92!C:&%N9V4@:6X@86-I9"!C;VUP
M;VYE;G1S(&]F#0IB<FEN92!W871E<B!O=F5R('1I;64N/"]P/@T*/'`@<W1Y
M;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C
M>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!
M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9B<^#0I4:&5R92!W97)E(&YO(&EM<&%I<FUE;G0@<')O=FES
M:6]N<R!M861E(&%T($1E8V5M8F5R(#,Q+"`R,#$P(&%N9`T*,C`P.2X\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"D9O<B!T:&4@>65A<G,@96YD960@1&5C
M96UB97(@,S$L(#(P,3$L(#(P,3`@86YD(#(P,#DL(&]R9&EN87)Y#0IR97!A
M:7(@86YD(&UA:6YT96YA;F-E(&5X<&5N<V5S('=E<F4@)#$L,#<X+#$S-"P@
M)#$Y.2PR-3<@86YD#0HD,C<L,S$W+"!R97-P96-T:79E;'DN/"]P/@T*#0H-
M"CPO9&EV/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\
M+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A
M<G1?-#`U,F,Q,S)?.&,S8E\T,&4Y7SAA,S1?8V(W-38Y,&,T8F9F#0I#;VYT
M96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S0P-3)C,3,R7SAC,V)?-#!E.5\X
M83,T7V-B-S4V.3!C-&)F9B]7;W)K<VAE971S+U-H965T,3(N:'1M;`T*0V]N
M=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N
M=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\
M:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E
M;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^
M/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^
M+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE
M860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS
M1$E$,$5!1#X-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@
M8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SY04D]015)462P@4$Q!
M3E0@04Y$($5154E0345.5"!53D1%4B!#05!)5$%,($Q%05-%4RP@3D54/&)R
M/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P
M86X],T0Q/C$R($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y$96,N(#,Q+"`R,#$Q
M/&)R/CPO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y04D]015)4
M62P@4$Q!3E0@04Y$($5154E0345.5"!53D1%4B!#05!)5$%,($Q%05-%4RP@
M3D54/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\9&EV/@T*/'`@
M<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
M"DY/5$4@-B`F(W@R,#$S.R!04D]015)462P@4$Q!3E0@04Y$($5154E0345.
M5"!53D1%4B!#05!)5$%,($Q%05-%4RP-"DY%5#PO<#X-"CQP('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\
M+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*4')O<&5R='DL('!L
M86YT(&%N9"!E<75I<&UE;G0@=6YD97(@8V%P:71A;"!L96%S97,L(&YE="!C
M;VYS:7-T(&]F#0IT:&4@9F]L;&]W:6YG.CPO<#X-"CQP('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^
M#0H\=&%B;&4@<W1Y;&4],T0G5TE$5$@Z(#$P,"4[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G(&-E;&QS<&%C:6YG/3-$,"!C
M96QL<&%D9&EN9STS1#`^#0H\='(@<W1Y;&4],T0G5D525$E#04PM04Q)1TXZ
M(&)O='1O;2<^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$
M24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/
M4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N
M=&5R)R!C;VQS<&%N/3-$-CY!<R!O9B!$96-E;6)E<B`S,2P\+W1D/@T*/'1D
M('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\
M+W1R/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*
M/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ
M(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-
M.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A
M;CTS1#(^,C`Q,3PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ
M(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/
M33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U14
M3TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS
M<&%N/3-$,CXR,#$P/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/
M33H@,7!T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+
M1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'
M3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SY!
M="!C;W-T.CPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(')I9VAT)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-
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M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@
M,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!7
M24142#H@,3`E)SXM/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE
M/3-$)T)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"D[(%9%4E1)
M0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0[(%!!1$1)3D<M3$5&5#H@.7!T
M)SY0;&%N=`T*86YD(&UA8VAI;F5R>3PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$
M1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="
M3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE
M9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-
M.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C(L-#<V
M+#0V,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$
M1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0
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M3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G
M0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T
M;VTG/@T*/'1D/E1O=&%L/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C(L-C`W+#`V-3PO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF
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M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q
M<'0G/DQE<W,Z(&%C8W5M=6QA=&5D#0ID97!R96-I871I;VX@86YD(&%M;W)T
M:7IA=&EO;CPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B
M;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L
M:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B@R-S`L,30U/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T
M)SXI/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K
M(#%P="!S;VQI9#L@5$585"U!3$E'3CH@;&5F="<^#0HF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@
M5$585"U!3$E'3CH@<FEG:'0G/@T*+3PO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T
M9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI
M=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U!!
M1$1)3D<M0D]45$]-.B`R+C5P="<^3F5T(&)O;VL@=F%L=64\+W1D/@T*/'1D
M('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B
M;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)#PO=&0^#0H\=&0@<W1Y;&4],T0G
M0D]21$52+4)/5%1/33H@8FQA8VL@,BXU<'0@9&]U8FQE.R!415A4+4%,24=.
M.B!R:6=H="<^#0HR+#,S-BPY,C`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T
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M=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"E1H92!A
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M(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-
M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T*1'5R:6YG('1H92!Y96%R(&5N9&5D($1E8V5M8F5R
M(#,Q+"`R,#$Q+"!D97!R96-I871I;VX@86YD#0IA;6]R=&EZ871I;VX@97AP
M96YS92!T;W1A;&5D("0R-C4L,#4W+"!O9B!W:&EC:"`D,3<R+#$P,R!A;F0-
M"B0Y,BPY-30@=V5R92!R96-O<F1E9"!A<R!C;W-T(&]F('-A;&5S(&%N9"!A
M9&UI;FES=')A=&EV92!E>'!E;G-E<PT*<F5S<&5C=&EV96QY+CPO<#X-"CQP
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[(%1%6%0M24Y$14Y4.B`P
M+C5I;CL@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I!;B!I;7!A
M:7)M96YT(&]F("0V.#,L,#0V('=A<R!M861E(&EN('1H92!S96-O;F0@<75A
M<G1E<B!O9B`R,#$Q#0IF;W(@=&AO<V4@:61L92!A<W-E=',@=VET:&]U="!E
M;FAA;F-E;65N=',@86YD(&%D:G5S=&UE;G1S(&)E96X-"G!E<F9O<FUE9"!I
M;B!E87)L>2`R,#$Q+"!A;F0@:6YC;'5D960@:6X@=W)I=&4M;V9F("\@:6UP
M86ER;65N="!O;@T*<')O<&5R='DL('!L86YT(&%N9"!E<75I<&UE;G0N/"]P
M/@T*#0H-"CPO9&EV/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-
M"B`@("`\+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?
M3F5X=%!A<G1?-#`U,F,Q,S)?.&,S8E\T,&4Y7SAA,S1?8V(W-38Y,&,T8F9F
M#0I#;VYT96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S0P-3)C,3,R7SAC,V)?
M-#!E.5\X83,T7V-B-S4V.3!C-&)F9B]7;W)K<VAE971S+U-H965T,3,N:'1M
M;`T*0V]N=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L
M90T*0V]N=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI
M(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS
M1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU
M=&8M."<^/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H
M;W<N:G,^+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP
M=#X\+VAE860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R
M="!I9#TS1$E$,$5!1#X-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S
M/3-$=&P@8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SY!0T-/54Y4
M4R!005E!0DQ%($%.1"!!0T-2545$($584$5.4T4\8G(^/"]S=')O;F<^/"]T
M:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^,3(@36]N
M=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@
M("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L(#(P,3$\8G(^/"]T:#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D
M(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D%#0T]53E13(%!!64%"3$4@04Y$
M($%#0U)5140@15A014Y313PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/&1I=CX-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!
M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9B<^#0I.3U1%(#<@)B-X,C`Q,SL@04-#3U5.5%,@4$%904),
M12!!3D0@04-#4E5%1"!%6%!%3E-%/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!
M3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P
M>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^
M#0I!8V-O=6YT<R!P87EA8FQE(&%N9"!A8V-R=65D(&5X<&5N<V5S(&-O;G-I
M<W0@;V8@=&AE(&9O;&QO=VEN9SH\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'1A
M8FQE('-T>6QE/3-$)U=)1%1(.B`Q,#`E.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL<W!A8VEN9STS1#`@8V5L;'!A
M9&1I;F<],T0P/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T
M;VTG/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"
M3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M
M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@
M8V]L<W!A;CTS1#8^07,@;V8@1&5C96UB97(@,S$L/"]T9#X-"CQT9"!S='EL
M93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/"]T<CX-
M"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9#XF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA
M8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R
M/C(P,3$\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B
M;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS
M1#(^,C`Q,#PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P
M="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G5D525$E#04PM
M04Q)1TXZ(&)O='1O;2<^#0H\=&0^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A
M;CTS1#(^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS
M<&%N/3-$,CXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\+W1R/@T*
M/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P
M-"D[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`W-"4G/D%C8V]U;G1S('!A>6%B;&4\
M+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B0\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@,3`E
M)SXS+#8T-2PX,#0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=72414
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M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXQ,S(L
M-#4T/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!R:6=H="<^,3(Q+#$R,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G
M0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM
M04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^4V]C:6%L('-E8W5R:71Y(&EN<W5R86YC92!C;VYT<FEB=71I;VX-"G!A
M>6%B;&4\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!R:6=H="<^,SDL,3(Y/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^,S`L.30V/"]T9#X-"CQT
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M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^
M,2PT,C(L,#0R/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!R:6=H="<^+3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G
M0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM
M04Q)1TXZ(&)O='1O;2<^#0H\=&0^4')I8V4@861J=7-T;65N="!F=6YD<SPO
M=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(')I9VAT)SXQ+#`S,2PV.#4\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S
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M/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^
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M/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T
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M93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M
M04Q)1TXZ(')I9VAT)SX-"C8L-#$Y+#<S-3PO=&0^#0H\+W1R/@T*/"]T86)L
M93X-"@T*#0H\+V1I=CX\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]
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M:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78]
M,T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]
M=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13
M:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I
M<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O
M<G0@:60],T1)1#!%040^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^1%5%(%1/
M($$@4D5,051%1"!005)462!!3D0@4D5,051%1"!005)462!44D%.4T%#5$E/
M3E,\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@
M8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L
M(#(P,3$\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/D15
M12!43R!!(%)%3$%4140@4$%25%D@04Y$(%)%3$%4140@4$%25%D@5%)!3E-!
M0U1)3TY3/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\9&EV/@T*
M/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@
M,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M)SX-"DY/5$4@."`F(W@R,#$S.R!$544@5$\@02!214Q!5$5$(%!!4E19($%.
M1"!214Q!5$5$(%!!4E19#0I44D%.4T%#5$E/3E,\+W`^#0H\<"!S='EL93TS
M1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[
M/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SX-"E)E;&%T960@<&%R='D@=')A;G-A8W1I;VYS(&-O;G-I<W0@
M;V8@=&AE(&9O;&QO=VEN9SH\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=.
M.B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'1A8FQE
M('-T>6QE/3-$)U=)1%1(.B`Q,#`E.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I
M;F<],T0P/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VTG
M/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U14
M3TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]4
M5$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L
M<W!A;CTS1#$P(&YO=W)A<#TS1&YO=W)A<#Y996%R<R!E;F1E9"!$96-E;6)E
M<B`S,2P\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G
M/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M
M0T],3U(Z('=H:71E.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S
M='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!4
M15A4+4%,24=..B!L969T)SX-"B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!C
M96YT97(G/@T*,C`Q,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$58
M5"U!3$E'3CH@;&5F="<^#0HF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/
M4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N
M=&5R)SX-"C(P,3`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M
M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$
M15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E
M<B<^#0HR,#`Y/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M.R!0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT
M<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I
M.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T.R!415A4+4E.1$5.5#H@+3EP=#L@4$%$1$E.1RU,1494
M.B`Y<'0G/@T*4'5R8VAA<V4@;V8@<F%W(&UA=&5R:6%L<R!F<F]M(&$@<F5L
M871E9"!P87)T>3H\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D
M/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R
M:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/
M54Y$+4-/3$]2.B!W:&ET93L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ
M(#(N-7!T.R!0041$24Y'+4Q%1E0Z(#EP=#L@5TE$5$@Z(#8Q)2<^#0HM4VAO
M=6=U86YG($AO;F=Y92!4<F%D:6YG($-O;7!A;GD@3&EM:71E9"`H3F]T92`H
M82DI/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,BXU<'0[
M(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M
M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0[
M(%=)1%1(.B`Q)2<^#0HD/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]4
M5$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT.R!7
M24142#H@,3`E)SX-"BT\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P=#L@5TE$5$@Z(#$E)SX-"B8C
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M6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P=#L@5TE$5$@Z
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M24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,BXU<'0[(%=)1%1(.B`Q)2<^
M#0HF(WA!,#L\+W1D/@T*/"]T<CX-"CPO=&%B;&4^#0H\<"!S='EL93TS1"=-
M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'1A8FQE('-T>6QE/3-$)U=)
M1%1(.B`Q,#`E.R!"3U)$15(M0T],3$%04T4Z(&-O;&QA<'-E.R!&3TY4.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL<W!A8VEN
M9STS1#`@8V5L;'!A9&1I;F<],T0P/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,
M+4%,24=..B!T;W`G/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q,B4G/DYO=&4@
M*&$I("T\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[
M(%=)1%1(.B`X."4G/DUR+B!::&D@66%N9RP@80T*<VAA<F5H;VQD97(@86YD
M('-O;B!O9B!T:&4@0VAA:7)M86X@;V8@=&AE($-O;7!A;GDL(&AA9"!A(#$P
M)0T*97%U:71Y(&EN=&5R97-T(&EN(%-H;W5G=6%N9R!(;VYG>64@5')A9&EN
M9R!#;VUP86YY($QI;6ET960-"B@F(W@R,#%#.TAO;F=Y928C>#(P,40[*2!F
M;W(@=&AE('!E<FEO9"!F<F]M($%U9W5S="`T+"`R,#$P('1O#0I$96-E;6)E
M<B`R+"`R,#$P+B8C>$$P.R8C>$$P.U-I;F-E($1E8V5M8F5R(#(L(#(P,3`L
M($UR+B!::&D@66%N9PT*:&%S(&YO="!H860@86YY(&]W;F5R<VAI<"!I;G1E
M<F5S="!I;B!(;VYG>64N)B-X03`[)B-X03`[2&]N9WEE(&ES#0IO;F4@;V8@
M=&AE(&UA:F]R('-U<'!L:65R<R!T;R!T:&4@0V]M<&%N>2!O9B!S=6QF=7(L
M(')A=R!C;V%L(&%N9`T*=F%R:6]U<R!C:&5M:6-A;',@9F]R('1H92!P<F]D
M=6-T:6]N(&]F(&)R;VUI;F4@86YD(&-H96UI8V%L#0IP<F]D=6-T<RXF(WA!
M,#LF(WA!,#M4:&4@;W5T<W1A;F1I;F<@<&%Y86)L97,@=&\@2&]N9WEE+"!W
M:&EC:"!W97)E#0II;F-L=61E9"!I;B!A8V-O=6YT<R!P87EA8FQE(&%S(&%T
M($1E8V5M8F5R(#,Q+"`R,#$P+"!A;6]U;G1E9"!T;PT*)#$L,30V+#@Q,"XF
M(WA!,#LF(WA!,#M4:&4@<')O9'5C=',@=V5R92!S;VQD('1O('1H92!#;VUP
M86YY(&)Y#0I(;VYG>64@870@;6%R:V5T('!R:6-E<RX\+W1D/@T*/"]T<CX-
M"CPO=&%B;&4^#0H\<"!S='EL93TS1"=-05)'24XZ(#!P="`P<'@[($9/3E0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[
M/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SX-"D1U<FEN9R!T:&4@9FES8V%L('EE87(@,C`Q,2P@=&AE($-O
M;7!A;GD@8F]R<F]W960@82!S=6T@;V8-"B0W+#@R,RPT-S4L(&%N9"!F=6QL
M>2!R97!A:60@;&%T97(@9'5R:6YG('1H92!S86UE('EE87(L(&9R;VT-"DII
M87AI;F<@3&EG:'1I;F<@07!P;&EA;F-E($-O;7!A;GD@3&EM:71E9"`H)B-X
M,C`Q0SM*:6%X:6YG#0I,:6=H=&EN9R8C>#(P,40[*2P@:6X@=VAI8V@@37(N
M($UI;F<@66%N9RP@82!S:&%R96AO;&1E<B!A;F0@=&AE#0I#:&%I<FUA;B!O
M9B!T:&4@0V]M<&%N>2P@:&%D(&$@,3`P)2!E<75I='D@:6YT97)E<W0@:6X@
M2FEA>&EN9PT*3&EG:'1I;F<N(%1H92!A;6]U;G1S(&1U92!T;R!*:6%X:6YG
M($QI9VAT:6YG('=E<F4@=6YS96-U<F5D+`T*:6YT97)E<W0@9G)E92!A;F0@
M<F5P87EA8FQE(&]N(&1E;6%N9"X\+W`^#0H\+V1I=CX\<W!A;CX\+W-P86X^
M/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*
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M.R!C:&%R<V5T/2)U<RUA<V-I:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@
M(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T
M97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O
M:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI
M<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\
M=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%040^#0H@("`@("`\='(^
M#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X]
M,T0R/CQS=')O;F<^5$%815,@4$%904),13QB<CX\+W-T<F]N9SX\+W1H/@T*
M("`@("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$,3XQ,B!-;VYT:',@
M16YD960\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<CX-"B`@("`@("`@
M/'1H(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@
M/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA
M<W,],T1P;"!V86QI9VX],T1T;W`^5$%815,@4$%904),13PO=&0^#0H@("`@
M("`@(#QT9"!C;&%S<STS1'1E>'0^/&1I=CX-"CQP('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0H\9F]N="!S='EL93TS
M1"=&3TY4+49!34E,63H@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/DY/5$4@.0T*)B-X,C`Q,SL@5$%815,@4$%904),13PO9F]N=#X\+W`^#0H\
M<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G34%21TE..B`P<'0@,'!X.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SY487AE
M<PT*<&%Y86)L92!C;VYS:7-T<R!O9B!T:&4@9F]L;&]W:6YG.CPO<#X-"CQP
M('-T>6QE/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\=&%B;&4@
M<W1Y;&4],T0G5TE$5$@Z(#$P,"4[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D9&EN
M9STS1#`^#0H\='(@<W1Y;&4],T0G5D525$E#04PM04Q)1TXZ(&)O='1O;2<^
M#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/
M33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U14
M3TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS
M<&%N/3-$-CY!<R!O9B!$96-E;6)E<B`S,2P\+W1D/@T*/'1D('-T>6QE/3-$
M)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R
M('-T>6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q
M<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^,C`Q
M,3PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K
M(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,CXR
M,#$P/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF
M(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'
M3CH@8F]T=&]M)SX-"CQT9#XF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$
M,CXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97(G(&-O;'-P86X]
M,T0R/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@
M<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@
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M9G0[(%=)1%1(.B`Q)2<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/C0L,S<W+#,Q-#PO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D
M/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!W:&ET
M93L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F="<^36EN97)A;"!R97-O=7)C92!C;VUP96YS871I;VX@
M9F5E#0IP87EA8FQE/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@<FEG:'0G/C0Q,"PW,3D\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXT.#8L-3@U
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R
M9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SY686QU92!A9&1E9"!T87@@
M<&%Y86)L93PO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(')I9VAT)SXU-#`L-#8S/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
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M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^
M,2PP.#$L,3$W/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!R:6=H="<^.38V+#,Y-SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y
M;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D52
M5$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^3W1H97(@=&%X#0IP87EA
M8FQE<SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C
M:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[
M(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C(V-"PW.3D\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C
M:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[
M(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C,P,2PR-S0\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
M>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M0T],
M3U(Z('=H:71E.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL
M93TS1"=0041$24Y'+4)/5%1/33H@,BXU<'0G/E1O=&%L/"]T9#X-"CQT9"!S
M='EL93TS1"=0041$24Y'+4)/5%1/33H@,BXU<'0G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,BXU<'0@9&]U8FQE
M.R!415A4+4%,24=..B!L969T)SX-"B0\+W1D/@T*/'1D('-T>6QE/3-$)T)/
M4D1%4BU"3U143TTZ(&)L86-K(#(N-7!T(&1O=6)L93L@5$585"U!3$E'3CH@
M<FEG:'0G/@T*-"PP-3@L-34P/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,BXU<'0G/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N-7!T
M(&1O=6)L93L@5$585"U!3$E'3CH@;&5F="<^#0HD/"]T9#X-"CQT9"!S='EL
M93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M
M04Q)1TXZ(')I9VAT)SX-"C<L,38S+#`Y-3PO=&0^#0H\+W1R/@T*/"]T86)L
M93X-"@T*#0H\+V1I=CX\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]
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M:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78]
M,T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]
M=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13
M:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I
M<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O
M<G0@:60],T1)1#!%040^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^0T%0251!
M3"!,14%312!/0DQ)1T%424].4SQB<CX\+W-T<F]N9SX\+W1H/@T*("`@("`@
M("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$,3XQ,B!-;VYT:',@16YD960\
M+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L
M87-S/3-$=&@^1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-
M"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P
M;"!V86QI9VX],T1T;W`^0T%0251!3"!,14%312!/0DQ)1T%424].4SPO=&0^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/&1I=CX-"CQP('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I.3U1%(#$P
M("8C>#(P,3,[($-!4$E404P@3$5!4T4@3T),24=!5$E/3E,F(WA!,#L\+W`^
M#0H\<"!S='EL93TS1"=-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@
M<W1Y;&4],T0G34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SY4:&4-"F-O;7!O;F5N=',@;V8@8V%P
M:71A;"!L96%S92!O8FQI9V%T:6]N<R!A<F4@87,@9F]L;&]W<SH\+W`^#0H\
M<"!S='EL93TS1"=-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'1A8FQE
M('-T>6QE/3-$)U=)1%1(.B`Q,#`E.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I
M;F<],T0P/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VTG
M/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97(G(&-O;'-P
M86X],T0R/DEM<'5T960\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]4
M5$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"
M3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M
M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@
M8V]L<W!A;CTS1#8^07,@;V8@1&5C96UB97(@,S$L/"]T9#X-"CQT9"!S='EL
M93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/"]T<CX-
M"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9#XF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA
M8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R
M/DEN=&5R97-T(')A=&4\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]4
M5$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"
M3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M
M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@
M8V]L<W!A;CTS1#(^,C`Q,3PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"
M3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'
M+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%
M4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R
M)R!C;VQS<&%N/3-$,CXR,#$P/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'
M+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS
M1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)424-!
M3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@-C$E)SY4;W1A;"!C87!I=&%L(&QE87-E#0IO8FQI9V%T
M:6]N<SPO=&0^#0H\=&0@<W1Y;&4],T0G5TE$5$@Z(#$E)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@
M5TE$5$@Z(#$P)2<^-BXW/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T.R!724142#H@,24G/B4\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(
M.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(')I9VAT.R!724142#H@,3`E)SXS+#(R-BPS,#`\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T
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M(#%P="<^3&5S<SH@0W5R<F5N=`T*<&]R=&EO;CPO=&0^#0H\=&0@<W1Y;&4]
M,T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!0
M041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q
M<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%
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M3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO
M='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR
M-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#(N-7!T)SY#
M87!I=&%L(&QE87-E#0IO8FQI9V%T:6]N<RP@;F5T(&]F(&-U<G)E;G0@<&]R
M=&EO;CPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#(N-7!T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[
M(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H=#L@4$%$1$E.1RU"3U143TTZ(#(N-7!T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[
M(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
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M1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)
M1TXZ(')I9VAT)SX-"BT\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CPO
M='(^#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G34%21TE..B`P<'0@,'!X.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C
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M96YD960-"D1E8V5M8F5R(#,Q+"`R,#$Q+CPO<#X-"CPO9&EV/CQS<&%N/CPO
M<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\+W1A8FQE/@T*("`\+V)O
M9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?-#`U,F,Q,S)?.&,S
M8E\T,&4Y7SAA,S1?8V(W-38Y,&,T8F9F#0I#;VYT96YT+4QO8V%T:6]N.B!F
M:6QE.B\O+T,Z+S0P-3)C,3,R7SAC,V)?-#!E.5\X83,T7V-B-S4V.3!C-&)F
M9B]7;W)K<VAE971S+U-H965T,3<N:'1M;`T*0V]N=&5N="U4<F%N<V9E<BU%
M;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N=&5N="U4>7!E.B!T97AT
M+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^
M#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT
M/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP="!T>7!E/3-$
M=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@3F]T(%)E;6]V
M92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@(#QB;V1Y/@T*
M("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS1$E$,$5!1#X-"B`@("`@
M(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@8V]L<W!A;CTS1#$@<F]W
M<W!A;CTS1#(^/'-T<F]N9SY2151!24Y%1"!%05).24Y'4R`M($%04%)/4%))
M051%1#QB<CX\+W-T<F]N9SX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T
M:"!C;VQS<&%N/3-$,3XQ,B!-;VYT:',@16YD960\+W1H/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C+B`S
M,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S
M<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^
M4D5404E.140@14%23DE.1U,@+2!!4%!23U!224%4140\+W1D/@T*("`@("`@
M("`\=&0@8VQA<W,],T1T97AT/CQD:78^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*3D]412`Q,2`F(W@R,#$S
M.R!2151!24Y%1"!%05).24Y'4R`F(W@R,#$S.R!!4%!23U!224%4140\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
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M;&]W:6YG(')E<V5R=F4Z/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].
M5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0H\:3Y3
M=&%T=71O<GD@0V]M;6]N(%)E<V5R=F4@1G5N9',\+VD^/"]P/@T*/'`@<W1Y
M;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C
M>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!
M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9B<^#0I30TA#(&%N9"!364-)(&%R92!R97%U:7)E9"!E86-H
M('EE87(@=&\@=')A;G-F97(@,3`E(&]F('1H92!P<F]F:70-"F%F=&5R('1A
M>"!A<R!R97!O<G1E9"!U;F1E<B!T:&4@4%)#('-T871U=&]R>2!F:6YA;F-I
M86P@<W1A=&5M96YT<PT*=&\@=&AE(%-T871U=&]R>2!#;VUM;VX@4F5S97)V
M92!&=6YD<R!U;G1I;"!T:&4@8F%L86YC92!R96%C:&5S(#4P)0T*;V8@=&AE
M(')E9VES=&5R960@<VAA<F4@8V%P:71A;"XF(WA!,#LF(WA!,#M4:&ES(')E
M<V5R=F4@8V%N(&)E#0IU<V5D('1O(&UA:V4@=7`@86YY(&QO<W,@:6YC=7)R
M960@;W(@=&\@:6YC<F5A<V4@<VAA<F4-"F-A<&ET86PN)B-X03`[)B-X03`[
M17AC97!T(&9O<B!T:&4@<F5D=6-T:6]N(&]F(&QO<W-E<R!I;F-U<G)E9"P-
M"F%N>2!O=&AE<B!A<'!L:6-A=&EO;B!S:&]U;&0@;F]T(')E<W5L="!I;B!T
M:&ES(')E<V5R=F4@8F%L86YC90T*9F%L;&EN9R!B96QO=R`R-24@;V8@=&AE
M(')E9VES=&5R960@8V%P:71A;"X@5&AE(%-T871U=&]R>2!#;VUM;VX-"E)E
M<V5R=F4@1G5N9"!A<R!O9B!$96-E;6)E<B`S,2P@,C`Q,2!F;W(@4T-(0R!A
M;F0@4UE#22!I<R`S,"4@86YD#0HU,"4@;V8@:71S(')E9VES=&5R960@8V%P
M:71A;"!R97-P96-T:79E;'DN/"]P/@T*/"]D:78^/'-P86X^/"]S<&%N/CPO
M=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO
M:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\T,#4R8S$S,E\X8S-B7S0P93E?
M.&$S-%]C8C<U-CDP8S1B9F8-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O
M0SHO-#`U,F,Q,S)?.&,S8E\T,&4Y7SAA,S1?8V(W-38Y,&,T8F9F+U=O<FMS
M:&5E=',O4VAE970Q."YH=&UL#0I#;VYT96YT+51R86YS9F5R+45N8V]D:6YG
M.B!Q=6]T960M<')I;G1A8FQE#0I#;VYT96YT+51Y<&4Z('1E>'0O:'1M;#L@
M8VAA<G-E=#TB=7,M87-C:6DB#0H-"CQH=&UL/@T*("`\:&5A9#X-"B`@("`\
M345402!H='1P+65Q=6EV/3-$0V]N=&5N="U4>7!E(&-O;G1E;G0],T0G=&5X
M="]H=&UL.R!C:&%R<V5T/75T9BTX)SX\<V-R:7!T('1Y<&4],T1T97AT+VIA
M=F%S8W)I<'0@<W)C/3-$4VAO=RYJ<SXO*B!$;R!.;W0@4F5M;W9E(%1H:7,@
M0V]M;65N="`J+SPO<V-R:7!T/CPO:&5A9#X-"B`@/&)O9'D^#0H@("`@/'1A
M8FQE(&-L87-S/3-$<F5P;W)T(&ED/3-$240P14%$/@T*("`@("`@/'1R/@T*
M("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$
M,CX\<W1R;VYG/D-/34U/3B!35$]#2SQB<CX\+W-T<F]N9SX\+W1H/@T*("`@
M("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$,3XQ,B!-;VYT:',@16YD
M960\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H
M(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`Q,3QB<CX\+W1H/@T*("`@("`@/"]T
M<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@("`@("`\=&0@8VQA<W,]
M,T1P;"!V86QI9VX],T1T;W`^0T]-34].(%-43T-+/"]T9#X-"B`@("`@("`@
M/'1D(&-L87-S/3-$=&5X=#X\9&EV/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"DY/5$4@,3(@)B-X,C`Q,SL@
M0T]-34].(%-43T-+/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I4:&4@0V]M
M<&%N>2!C:&%N9V5D('1H92!T<F%D:6YG('1I8VME<B!S>6UB;VP@;V8@:71S
M(&-O;6UO;B!S=&]C:PT*;VX@=&AE($Y!4T1!42!';&]B86P@4V5L96-T($UA
M<FME="!T;R`F(W@R,#%#.T=54D4F(W@R,#%$.R!E9F9E8W1I=F4-"F%T('1H
M92!O<&5N(&]F('1H92!M87)K970@;VX@2G5N92`S,"P@,C`Q,2X\+W`^#0H\
M<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX-"D5F9F5C=&EV92!/8W1O8F5R(#$R+"`R,#`Y
M+"!T:&4@0V]M<&%N>2!E9F9E8W1E9"!A(&]N92!F;W(@9F]U<@T*<F5V97)S
M92!S=&]C:R!S<&QI="XF(WA!,#LF(WA!,#M!;&P@<VAA<F5S(&%N9"!P97(@
M<VAA<F4@86UO=6YT(&9O<@T*86QL('!E<FEO9',@<')E<V5N=&5D(&AA=F4@
M8F5E;B!A9&IU<W1E9"!T;R!R969L96-T('1H92!R979E<G-E#0IS=&]C:R!S
M<&QI="X\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-
M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!
M3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"DEN($UA<F-H(#(P,#DL
M('1H92!#;VUP86YY(&ES<W5E9"`U+#(U,"PP,#`@<VAA<F5S(&]F(&ET<R!C
M;VUM;VX-"G-T;V-K(&%S('!A>6UE;G0@9F]R("0R,2PR.#<L-#DS(&]F($YO
M=&5S(&%N9"!,;V%N(%!A>6%B;&4M4F5L871E9`T*4&%R='DN/"]P/@T*/'`@
M<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
M"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[
M($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9B<^#0I);B!-87)C:"`R,#`Y+"!T:&4@0V]M<&%N>2!I
M<W-U960@,S<U+#`P,"!S:&%R97,@;V8@:71S(&-O;6UO;@T*<W1O8VLL('9A
M;'5E9"!A="`D-C$U+#`P,"P@=&\@86-Q=6ER92!A<W-E=',@;W=N960@8GD@
M46EU9F5N(%EU86XL#0I(86X@5V%N9R!A;F0@675F96X@6FAA;F<N/"]P/@T*
M/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@
M,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I
M9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0I);B!397!T96UB97(@,C`P.2P@=&AE($-O
M;7!A;GD@:7-S=65D(#$L,#4W+#,T,2!S:&%R97,@;V8@:71S#0IC;VUM;VX@
M<W1O8VLL('9A;'5E9"!A="`D-2PT,3,L-3@X+"!T;R!A8W%U:7)E(&%S<V5T
M<R!O=VYE9"!B>2!(86X-"E=A;F<L(%%I;F<@66%N9R!A;F0@675L:6%N9R!'
M86\N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%2
M1TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S
M='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[
M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*
M)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@
M34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF)SX-"DEN($1E8V5M8F5R(#(P,#DL('1H92!#;VUP86YY
M(&ES<W5E9"`R+#DT,2PQ.#(@<VAA<F5S(&]F(&ET<R!C;VUM;VX-"G-T;V-K
M(&%T(&$@<')I8V4@;V8@)#@N-3`@<&5R('-H87)E(&EN(&$@<')I=F%T92!P
M;&%C96UE;G0N($$-"G!O<G1I;VX@;V8@=&AE('!R;V-E961S('=E<F4@<F5C
M96EV960@8GD@=&AE($-O;7!A;GD@:6X@2F%N=6%R>0T*,C`Q,"X\+W`^#0H\
M<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX-"DEN($%U9W5S="`R,#`X+"!T:&4@0V]M<&%N
M>2!G<F%N=&5D('1O(&]N92!I;G9E<W1O<B!R96QA=&EO;G,@9FER;0T*82!W
M87)R86YT('1O('!U<F-H87-E(&$@=&]T86P@;V8@,C4L,#`P('-H87)E<R!O
M9B!T:&4-"D-O;7!A;GDF(W@R,#$Y.W,@8V]M;6]N('-T;V-K(&%T(&%N(&5X
M97)C:7-E('!R:6-E(&]F("0T+C@P)B-X03`[<&5R#0IS:&%R92!A;F0@=&AE
M(&]P=&EO;G,@=F5S=&5D(&EM;65D:6%T96QY+B!);B!*86YU87)Y(#(P,3`L
M('1H90T*:6YV97-T;W(@<F5L871I;VYS(&9I<FT@;6%D92!A(&-A<VAL97-S
M(&5X97)C:7-E(&9O<B!T:&4@=V%R<F%N="X-"E1H92!#;VUP86YY(&ES<W5E
M9"`Q-2PX.#$@<VAA<F5S(&)A<V5D(&]N('1H92!F86ER(&UA<FME="!P<FEC
M92!O9@T*)#$S+C$V+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU
M<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS
M1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*26X@=&AE
M(&9O=7)T:"!Q=6%R=&5R(&]F(#(P,#@L('1H92!#;VUP86YY(&=R86YT960@
M=&\@;VYE($)O87)D#0IM96UB97(@;W!T:6]N<R!T;R!P=7)C:&%S92!A('1O
M=&%L(&]F(#$R+#4P,"!S:&%R97,@;V8@=&AE#0I#;VUP86YY)B-X,C`Q.3MS
M(&-O;6UO;B!S=&]C:R!A="!A;B!E>&5R8VES92!P<FEC92!O9B`D,2XT-"8C
M>$$P.W!E<@T*<VAA<F4@86YD('1H92!O<'1I;VYS('9E<W1E9"!I;6UE9&EA
M=&5L>2XF(WA!,#L@26X@1F5B<G5A<GD@,C`Q,"P-"G1H92!#;VUP86YY(&ES
M<W5E9"`Q,BPU,#`@<VAA<F5S(&]F(&ET<R!C;VUM;VX@<W1O8VL@=7!O;B!T
M:&4-"F5X97)C:7-E(&]F('-U8V@@<W1O8VL@;W!T:6]N<R!B>2!T:&4@0F]A
M<F0@;65M8F5R+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I
M9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*26X@2G5N92`R
M,#$P+"!T:&4@0V]M<&%N>2!I<W-U960@-S`L-38P('-H87)E<R!O9B!I=',@
M8V]M;6]N('-T;V-K+`T*=F%L=65D(&%T("0V,#@L,C(W+"!T;R!A8W%U:7)E
M(&%S<V5T<R!O=VYE9"!B>2!-<B!*:6YJ:6X@3&DL($US#0I1:75Z:&5N(%=A
M;F<L(%EU96QI86YG(%=A;F<L($MU;FUI;F<@5&EA;BP@1V%O;6EN9R!4:6%N
M(&%N9`T*6FAI<6EA;F<@5V5I+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S
M='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[
M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*
M26X@=&AE(&9O=7)T:"!Q=6%R=&5R(&]F(#(P,3`L('1H92!#;VUP86YY(&ES
M<W5E9"`Y-2PY,#4@<VAA<F5S(&]F#0II=',@8V]M;6]N('-T;V-K(&)A<V5D
M(&]N('1H92!F86ER(&UA<FME="!P<FEC97,@;V8@)#@N,R`M("0Q,2XX#0IU
M<&]N('1H92!C87-H;&5S<R!E>&5R8VES92!O9B`Q.#<L-3`P('-T;V-K(&]P
M=&EO;G,@9W)A;G1E9"!T;R!T:&4-"D)O87)D(&UE;6)E<G,@86YD(&5M<&QO
M>65E<RX\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-
M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!
M3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"DEN('1H92!S96-O;F0@
M<75A<G1E<B!O9B`R,#$Q+"!T:&4@0V]M<&%N>2!I<W-U960@.2PT,S`@<VAA
M<F5S(&]F#0II=',@8V]M;6]N('-T;V-K(&)A<V5D(&]N('1H92!F86ER(&UA
M<FME="!P<FEC92!O9B`D,RXT,B!U<&]N('1H90T*8V%S:&QE<W,@97AE<F-I
M<V4@;V8@,3(L-3`P('-T;V-K(&]P=&EO;G,@9W)A;G1E9"!T;R!A($)O87)D
M#0IM96UB97(N/"]P/@T*/"]D:78^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*
M+2TM+2TM/5].97AT4&%R=%\T,#4R8S$S,E\X8S-B7S0P93E?.&$S-%]C8C<U
M-CDP8S1B9F8-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-#`U,F,Q
M,S)?.&,S8E\T,&4Y7SAA,S1?8V(W-38Y,&,T8F9F+U=O<FMS:&5E=',O4VAE
M970Q.2YH=&UL#0I#;VYT96YT+51R86YS9F5R+45N8V]D:6YG.B!Q=6]T960M
M<')I;G1A8FQE#0I#;VYT96YT+51Y<&4Z('1E>'0O:'1M;#L@8VAA<G-E=#TB
M=7,M87-C:6DB#0H-"CQH=&UL/@T*("`\:&5A9#X-"B`@("`\345402!H='1P
M+65Q=6EV/3-$0V]N=&5N="U4>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C
M:&%R<V5T/75T9BTX)SX\<V-R:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@
M<W)C/3-$4VAO=RYJ<SXO*B!$;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J
M+SPO<V-R:7!T/CPO:&5A9#X-"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S
M/3-$<F5P;W)T(&ED/3-$240P14%$/@T*("`@("`@/'1R/@T*("`@("`@("`\
M=&@@8VQA<W,],T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG
M/E1214%355)9(%-43T-+/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT
M:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q/C$R($UO;G1H<R!%;F1E9#PO=&@^
M#0H@("`@("`\+W1R/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,]
M,T1T:#Y$96,N(#,Q+"`R,#$Q/&)R/CPO=&@^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A
M;&EG;CTS1'1O<#Y44D5!4U5262!35$]#2SPO=&0^#0H@("`@("`@(#QT9"!C
M;&%S<STS1'1E>'0^/&1I=CX-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU
M<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^#0I.3U1%(#$S("8C>#(P,3,[(%1214%3
M55)9(%-43T-+/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I);B!*=6YE(#(P
M,3$L('1H92!#;VUP86YY(')E<'5R8VAA<V5D(#$P,"PU,#`@<VAA<F5S(&]F
M(&-O;6UO;@T*<W1O8VL@;V8@=&AE($-O;7!A;GD@870@86X@879E<F%G92!P
M<FEC92!O9B`D,RXT-B!P97(@<VAA<F4@9F]R(&$-"G1O=&%L(&-O<W0@;V8@
M)#,T."PQ-#<@=6YD97(@=&AE(&%P<')O=F%L(&]F('1H92!";V%R9"!O9@T*
M1&ER96-T;W)S+B!);B!397!T96UB97(@,C`Q,2P@=&AE($-O;7!A;GD@<F5P
M=7)C:&%S960@.#0L,#DY(&-O;6UO;@T*<W1O8VL@;V8@=&AE($-O;7!A;GD@
M870@86X@879E<F%G92!P<FEC92!O9B`D,2XX,2!P97(@<VAA<F4@9F]R(&$-
M"G1O=&%L(&-O<W0@;V8@)#$U,2PX-3,@=6YD97(@=&AE(&%P<')O=F%L(&]F
M('1H92!";V%R9"!O9@T*1&ER96-T;W)S+B!4:&4@0V]M<&%N>2!R96-O<F1E
M9"!T:&4@96YT:7)E('!U<F-H87-E('!R:6-E(&]F('1H90T*=')E87-U<GD@
M<W1O8VL@87,@82!R961U8W1I;VX@;V8@97%U:71Y+CPO<#X-"CPO9&EV/CQS
M<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\+W1A8FQE/@T*
M("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?-#`U,F,Q
M,S)?.&,S8E\T,&4Y7SAA,S1?8V(W-38Y,&,T8F9F#0I#;VYT96YT+4QO8V%T
M:6]N.B!F:6QE.B\O+T,Z+S0P-3)C,3,R7SAC,V)?-#!E.5\X83,T7V-B-S4V
M.3!C-&)F9B]7;W)K<VAE971S+U-H965T,C`N:'1M;`T*0V]N=&5N="U4<F%N
M<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N=&5N="U4>7!E
M.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@
M/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C
M;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP="!T
M>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@3F]T
M(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@(#QB
M;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS1$E$,$5!1#X-
M"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@8V]L<W!A;CTS
M1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SY35$]#2RU"05-%1"!#3TU014Y3051)
M3TX\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@
M8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L
M(#(P,3$\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E-4
M3T-++4)!4T5$($-/35!%3E-!5$E/3CPO=&0^#0H@("`@("`@(#QT9"!C;&%S
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M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL
M93TS1"=-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/@T*4'5R<W5A;G0@=&\@=&AE($-O;7!A;GDF
M(W@R,#$Y.W,@06UE;F1E9"!A;F0@4F5S=&%T960@,C`P-R!%<75I='D-"DEN
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M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
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M+`T*=VAI8V@@:&%S(&)E96X@=&%K96X@:6YT;R!A8V-O=6YT(&]F(&5A<FQY
M(&5X97)C:7-E(&)E:&%V:6]R(&]F('1H90T*;W!T:6]N(&AO;&1E<BX\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"E1H928C>$$P.T-O;7!A;GD@:7-S=65D
M(#(U+#`P,"!W87)R86YT<R!O;B!!=6=U<W0@,2P@,C`P."!A="!A#0IP<FEC
M92!O9B`D-"XX,"!P97(@<VAA<F4@87,@<&%R="!O9B!A(&-O;G-U;'1I;F<@
M86=R965M96YT('=I=&@@:71S#0II;G9E<W1O<B!R96QA=&EO;G,@9FER;2X@
M5&AE<V4@;W!T:6]N<R!F=6QL>2!V97-T960@;VX@075G=7-T(#$L#0HR,#`Y
M+B!4:&4@=V%R<F%N=',@=V5R92!V86QU960@870@)#8U+#`P,"P@9F%I<B!V
M86QU92P@=VET:"!A<W-U;65D#0HQ-C(E('9O;&%T:6QI='DL(&$@9F]U<BUY
M96%R(&5X<&ER871I;VX@=&5R;2P@82!R:7-K(&9R964@<F%T92!O9@T*,R4@
M86YD(&YO(&1I=FED96YD('EI96QD+B!4:&4@=F%L=64@;V8@=&AE('=A<G)A
M;G1S('=I;&P@8F4-"F5X<&5N<V5D(&]V97(@;VYE('EE87(L('=H:6-H(&ES
M)B-X03`[=&AE('1E<FT@;V8@=&AE(&-O;G-U;'1I;F<-"F%G<F5E;65N="X@
M1F]R('1H92!Y96%R(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#`Y+"`D-#@L-C$V
M('=A<PT*<F5C;V=N:7IE9"!A<R!C;VYS=6QT:6YG(&5X<&5N<V4N/"]P/@T*
M/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@
M,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF
M)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I
M9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0I);B!-87)C:"`R,#`Y+"!T:&4@0V]M<&%N
M>2!G<F%N=&5D('1O(#D@;6%N86=E;65N=`T*<W1A9F8F(WA!,#LH:6YC;'5D
M:6YG(#0@9&ER96-T;W)S(&]F('1H92!#;VUP86YY*2!O<'1I;VYS('1O#0IP
M=7)C:&%S92!A('1O=&%L(&]F(#$U,"PP,#`@<VAA<F5S("@R-2PP,#`@9F]R
M(&5A8V@@;V8@=&AE#0IE>&5C=71I=F4@9&ER96-T;W)S+"!A;F0@,3(L-3`P
M(&5A8V@@9F]R(&]N92!N;VXM97AE8W5T:79E#0II;F1E<&5N9&5N="!D:7)E
M8W1O<B!A;F0@-2!O=&AE<B!M86YA9V5M96YT('-T869F*28C>$$P.V]F('1H
M90T*0V]M<&%N>28C>#(P,3D[<R!C;VUM;VX@<W1O8VL@870@86X@97AE<F-I
M<V4@<')I8V4@;V8@)#0N.#`@<&5R#0IS:&%R92!A;F0@=&AE(&]P=&EO;G,@
M=F5S=&5D(&EM;65D:6%T96QY+B!4:&4@;W!T:6]N<R!W97)E('9A;'5E9`T*
M870@)#$T,RPX,C`@9F%I<B!V86QU92P@=VET:"!A<W-U;65D(#$W-"4@=F]L
M871I;&ET>2P@82!T:')E92UY96%R#0IE>'!I<F%T:6]N('1E<FTL(&$@<FES
M:R!F<F5E(')A=&4@;V8@,2XT,R4@86YD(&YO(&1I=FED96YD('EI96QD+@T*
M1F]R('1H92!Y96%R(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#`Y+"`D,30S+#@R
M,"!W87,@<F5C;V=N:7IE9"!A<PT*9V5N97)A;"!A;F0@861M:6YI<W1R871I
M=F4@97AP96YS97,N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I);B!-87D@
M,C`P.2P@=&AE($-O;7!A;GD@9W)A;G1E9"!T;R!A(&1I<F5C=&]R(&]P=&EO
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M('EE87(@96YD960@1&5C96UB97(-"C,Q+"`R,#`Y+"`D,C`L-#@V('=A<R!R
M96-O9VYI>F5D(&%S(&=E;F5R86P@86YD(&%D;6EN:7-T<F%T:79E#0IE>'!E
M;G-E<RX\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-
M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!
M3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P
M>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^
M#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y
M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/@T*26X@2G5N92`R,#`Y+"!T:&4@0V]M<&%N>2!G
M<F%N=&5D('1O(&$@9&ER96-T;W(@;W!T:6]N<R!T;R!P=7)C:&%S90T*,C4L
M,#`P('-H87)E<R8C>$$P.V]F('1H92!#;VUP86YY)B-X,C`Q.3MS(&-O;6UO
M;B!S=&]C:R!A="!A;@T*97AE<F-I<V4@<')I8V4@;V8@)#0N.#`@<&5R('-H
M87)E(&%N9"!T:&4@;W!T:6]N<R!V97-T960-"FEM;65D:6%T96QY+B!4:&4@
M;W!T:6]N<R!W97)E('9A;'5E9"!A="`D,SDL-3,T(&9A:7(@=F%L=64L('=I
M=&@-"F%S<W5M960@,38W)2!V;VQA=&EL:71Y+"!A('1H<F5E+7EE87(@97AP
M:7)A=&EO;B!T97)M+"!A(')I<VL@9G)E90T*<F%T92!O9B`Q+C0S)2!A;F0@
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M,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*26X@3V-T;V)E<B`R,#`Y+"!T:&4@0V]M<&%N>2!G<F%N
M=&5D('1O(#(@;6%N86=E;65N="!S=&%F9B!O<'1I;VYS#0IT;R!P=7)C:&%S
M92`S-RPU,#`@<VAA<F5S)B-X03`[;V8@=&AE($-O;7!A;GDF(W@R,#$Y.W,@
M8V]M;6]N('-T;V-K#0IA="!A;B!E>&5R8VES92!P<FEC92!O9B`D-BXT-"!P
M97(@<VAA<F4@86YD('1H92!O<'1I;VYS('9E<W1E9`T*:6UM961I871E;'DN
M(%1H92!O<'1I;VYS('=E<F4@=F%L=65D(&%T("0R,3DL-C4V(&9A:7(@=F%L
M=64L('=I=&@-"F%S<W5M960@,38Q)2!V;VQA=&EL:71Y+"!A('1H<F5E+7EE
M87(@97AP:7)A=&EO;B!T97)M+"!A(')I<VL@9G)E90T*<F%T92!O9B`Q+C0S
M)2!A;F0@;F\@9&EV:61E;F0@>6EE;&0N($9O<B!T:&4@>65A<B!E;F1E9"!$
M96-E;6)E<@T*,S$L(#(P,#DL("0R,3DL-C4V('=A<R!R96-O9VYI>F5D(&%S
M(&=E;F5R86P@86YD(&%D;6EN:7-T<F%T:79E#0IE>'!E;G-E<RX\+W`^#0H\
M<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX-"DEN($]C=&]B97(@,C`P.2P@=&AE($-O;7!A
M;GD@9W)A;G1E9"!T;R!A;B!I;F1E<&5N9&5N="!D:7)E8W1O<@T*;W!T:6]N
M<R!T;R!P=7)C:&%S92`Q,BPU,#`@<VAA<F5S)B-X03`[;V8@=&AE($-O;7!A
M;GDF(W@R,#$Y.W,-"F-O;6UO;B!S=&]C:R!A="!A;B!E>&5R8VES92!P<FEC
M92!O9B`D.2XV-2!P97(@<VAA<F4@86YD('1H90T*;W!T:6]N<R!V97-T960@
M:6UM961I871E;'DN(%1H92!O<'1I;VYS('=E<F4@=F%L=65D(&%T("0Y,"PV
M-#@@9F%I<@T*=F%L=64L('=I=&@@87-S=6UE9"`Q-C`E('9O;&%T:6QI='DL
M(&$@=&AR964M>65A<B!E>'!I<F%T:6]N('1E<FTL#0IA(')I<VL@9G)E92!R
M871E(&]F(#$N-#,E(&%N9"!N;R!D:79I9&5N9"!Y:65L9"X@1F]R('1H92!Y
M96%R(&5N9&5D#0I$96-E;6)E<B`S,2P@,C`P.2P@)#DP+#8T."!W87,@<F5C
M;V=N:7IE9"!A<R!G96YE<F%L(&%N9`T*861M:6YI<W1R871I=F4@97AP96YS
M97,N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%2
M1TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I);B!.;W9E;6)E<B`R,#`Y
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M=65D(&%T("0Y,BPS,34@9F%I<@T*=F%L=64L('=I=&@@87-S=6UE9"`Q-3(E
M('9O;&%T:6QI='DL(&$@=&AR964M>65A<B!E>'!I<F%T:6]N('1E<FTL#0IA
M(')I<VL@9G)E92!R871E(&]F(#$N-#,E(&%N9"!N;R!D:79I9&5N9"!Y:65L
M9"X@1F]R('1H92!Y96%R(&5N9&5D#0I$96-E;6)E<B`S,2P@,C`P.2P@)#DR
M+#,Q-2!W87,@<F5C;V=N:7IE9"!A<R!G96YE<F%L(&%N9`T*861M:6YI<W1R
M871I=F4@97AP96YS97,N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].
M5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I);B!$
M96-E;6)E<B`R,#`Y+"!T:&4@0V]M<&%N>2!G<F%N=&5D('1O(&%N(&EN=F5S
M=&UE;G0@8F%N:PT*=V%R<F%N=',@=&\@<'5R8VAA<V4@,3<V+#0W,2!S:&%R
M97,F(WA!,#MO9B!T:&4@0V]M<&%N>28C>#(P,3D[<PT*8V]M;6]N('-T;V-K
M(&%T(&%N(&5X97)C:7-E('!R:6-E(&]F("0Q,"XR('!E<B!S:&%R92!A;F0@
M=&AE#0IW87)R86YT<R!V97-T960@:6UM961I871E;'DN(%1H92!W87)R86YT
M<R!W97)E('9A;'5E9"!A="`D,2PS-C<L,34V#0IF86ER('9A;'5E+"!W:71H
M(&%S<W5M960@,34V)2!V;VQA=&EL:71Y+"!A('1H<F5E+7EE87(@97AP:7)A
M=&EO;@T*=&5R;2P@82!R:7-K(&9R964@<F%T92!O9B`Q+C0S)2!A;F0@;F\@
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M,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*26X@1F5B<G5A<GD@,C`Q,"P@=&AE($-O;7!A;GD@9W)A
M;G1E9"!T;R`X(&UA;F%G96UE;G0@<W1A9F8@;W!T:6]N<PT*=&\@<'5R8VAA
M<V4@,3,R+#4P,"!S:&%R97,F(WA!,#MO9B!T:&4@0V]M<&%N>28C>#(P,3D[
M<R!C;VUM;VX@<W1O8VL-"F%T(&%N(&5X97)C:7-E('!R:6-E(&]F("0X+C(U
M('!E<B!S:&%R92!A;F0@=&AE(&]P=&EO;G,@=F5S=&5D#0II;6UE9&EA=&5L
M>2X@5&AE(&]P=&EO;G,@=V5R92!V86QU960@870@)#DY-2PU,SD@9F%I<B!V
M86QU92P@=VET:`T*87-S=6UE9"`Q-30E('9O;&%T:6QI='DL(&$@=&AR964M
M>65A<B!E>'!I<F%T:6]N('1E<FT@=VET:"!E>'!E8W1E9`T*=&5N;W(@;V8@
M,2XU('EE87)S+"!A(')I<VL@9G)E92!R871E(&]F(#$N-C`E(&%N9"!N;R!D
M:79I9&5N9`T*>6EE;&0N($9O<B!T:&4@>65A<B!E;F1E9"!$96-E;6)E<B`S
M,2P@,C`Q,"P@)#DY-2PU,SD@=V%S#0IR96-O9VYI>F5D(&%S(&=E;F5R86P@
M86YD(&%D;6EN:7-T<F%T:79E(&5X<&5N<V5S+CPO<#X-"CQP('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\
M+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ
M(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68G/@T*26X@1F5B<G5A<GD@,C`Q,"P@=&AE($-O;7!A;GD@9W)A;G1E
M9"!T;R!T:&4@:6YV97-T;W(@<F5L871I;VYS#0IF:7)M('=A<G)A;G1S('1O
M('!U<F-H87-E(#(U+#`P,"!S:&%R97,F(WA!,#MO9B!T:&4@0V]M<&%N>28C
M>#(P,3D[<PT*8V]M;6]N('-T;V-K(&%T(&%N(&5X97)C:7-E('!R:6-E(&]F
M("0Q,B!P97(@<VAA<F4@86YD('1H92!W87)R86YT<PT*=F5S=&5D(&EM;65D
M:6%T96QY+B!4:&4@=V%R<F%N=',@=V5R92!V86QU960@870@)#$Y,RPT,C@@
M9F%I<@T*=F%L=64L('=I=&@@87-S=6UE9"`Q-34E('9O;&%T:6QI='DL(&$@
M9F]U<BUY96%R(&5X<&ER871I;VX@=&5R;2P@80T*<FES:R!F<F5E(')A=&4@
M;V8@,2XV,"4@86YD(&YO(&1I=FED96YD('EI96QD+B!&;W(@=&AE('EE87(@
M96YD960-"D1E8V5M8F5R(#,Q+"`R,#$P+"`D,3DS+#0R."!W87,@<F5C;V=N
M:7IE9"!A<R!G96YE<F%L(&%N9`T*861M:6YI<W1R871I=F4@97AP96YS97,N
M/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I);B!.;W9E;6)E<B`R,#$P+"!T
M:&4@0V]M<&%N>2!G<F%N=&5D('1O(#(@:6YD97!E;F1E;G0@9&ER96-T;W)S
M#0IO<'1I;VYS('1O('!U<F-H87-E(#(U+#`P,"!S:&%R97,F(WA!,#MO9B!T
M:&4@0V]M<&%N>28C>#(P,3D[<PT*8V]M;6]N('-T;V-K(&%T(&%N(&5X97)C
M:7-E('!R:6-E(&]F("0Q,"XT,R!P97(@<VAA<F4@86YD('1H90T*;W!T:6]N
M<R!V97-T960@:6UM961I871E;'DN(%1H92!O<'1I;VYS('=E<F4@=F%L=65D
M(&%T("0Y,RPT-C(@9F%I<@T*=F%L=64L('=I=&@@87-S=6UE9"`W-B4@=F]L
M871I;&ET>2P@82!T:')E92UY96%R(&5X<&ER871I;VX@=&5R;0T*=VET:"!E
M>'!E8W1E9"!T96YO<B!O9B`Q+C4@>65A<G,L(&$@<FES:R!F<F5E(')A=&4@
M;V8@,"XS,"4@86YD(&YO#0ID:79I9&5N9"!Y:65L9"X@1F]R('1H92!Y96%R
M(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$P+"`D.3,L-#8R('=A<PT*<F5C;V=N
M:7IE9"!A<R!G96YE<F%L(&%N9"!A9&UI;FES=')A=&EV92!E>'!E;G-E<RX\
M+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ
M(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"DEN($9E8G)U87)Y(#(P,3$L('1H
M92!#;VUP86YY(&=R86YT960@=&\@=&AE(&EN=F5S=&]R(')E;&%T:6]N<PT*
M9FER;2!A('=A<G)A;G0@=&\@<'5R8VAA<V4@-3`L,#`P('-H87)E<R!O9B!T
M:&4@0V]M<&%N>28C>#(P,3D[<PT*8V]M;6]N('-T;V-K(&%T(&%N(&5X97)C
M:7-E('!R:6-E(&]F("0Q,BXV('!E<B!S:&%R92!A;F0@=&AE#0IW87)R86YT
M<R!V97-T960@:6UM961I871E;'DN(%1H92!W87)R86YT('=A<R!V86QU960@
M870@)#0U,BPP,#`-"F9A:7(@=F%L=64L('=I=&@@87-S=6UE9"`Q.3,N-#(E
M('9O;&%T:6QI='DL(&$@9FEV92UY96%R(&5X<&ER871I;VX-"G1E<FTL(&$@
M<FES:R!F<F5E(')A=&4@;V8@,BXS,"4@86YD(&YO(&1I=FED96YD('EI96QD
M+B!&;W(@=&AE('EE87(-"F5N9&5D($1E8V5M8F5R(#,Q+"`R,#$Q+"`D-#4R
M+#`P,"!W87,@<F5C;V=N:7IE9"!A<R!G96YE<F%L(&%N9`T*861M:6YI<W1R
M871I=F4@97AP96YS97,N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].
M5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I);B!E
M87)L>2!-87)C:"`R,#$Q+"!T:&4@0V]M<&%N>2!G<F%N=&5D('1O(&%N(&EN
M9&5P96YD96YT(&1I<F5C=&]R#0IA;B!O<'1I;VX@=&\@<'5R8VAA<V4@,3(L
M-3`P('-H87)E<R!O9B!T:&4@0V]M<&%N>28C>#(P,3D[<R!C;VUM;VX-"G-T
M;V-K(&%T(&%N(&5X97)C:7-E('!R:6-E(&]F("0Y+C$V('!E<B!S:&%R92!A
M;F0@=&AE(&]P=&EO;G,-"G9E<W1E9"!I;6UE9&EA=&5L>2X@5&AE(&]P=&EO
M;G,@=V5R92!V86QU960@870@)#,U+#`P,"!F86ER('9A;'5E+`T*=VET:"!A
M<W-U;65D(#8T+C4E('9O;&%T:6QI='DL(&$@=&AR964M>65A<B!E>'!I<F%T
M:6]N('1E<FT@=VET:`T*97AP96-T960@=&5N;W(@;V8@,2XT.2!Y96%R<RP@
M82!R:7-K(&9R964@<F%T92!O9B`P+C0V)2!A;F0@;F\-"F1I=FED96YD('EI
M96QD+B!&;W(@=&AE('EE87(@96YD960@1&5C96UB97(@,S$L(#(P,3$L("0S
M-2PP,#`@=V%S#0IR96-O9VYI>F5D(&%S(&=E;F5R86P@86YD(&%D;6EN:7-T
M<F%T:79E(&5X<&5N<V5S+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*26X@
M;&%T92!-87)C:"`R,#$Q+"!T:&4@0V]M<&%N>2!G<F%N=&5D('1O(#,@97AE
M8W5T:79E(&]F9FEC97)S#0IO<'1I;VYS('1O('!U<F-H87-E(#$L,C`P+#`P
M,"!S:&%R97,@;V8@=&AE($-O;7!A;GDF(W@R,#$Y.W,@8V]M;6]N#0IS=&]C
M:R!A="!A;B!E>&5R8VES92!P<FEC92!O9B`D-"XY-R!P97(@<VAA<F4@86YD
M('1H92!O<'1I;VYS(&%R90T*97AE<F-I<V%B;&4@:6X@97%U86P@:6YS=&%L
M;&UE;G1S(&]V97(@<&5R:6]D<R!O9B!T=V\@>65A<G,N(%1H90T*;W!T:6]N
M<R!W97)E('9A;'5E9"!A="`D-"PS,3<L,#`P(&9A:7(@=F%L=64L('=I=&@@
M87-S=6UE9"`W-RXR,B4-"G1O(#DT+C,V)2!V;VQA=&EL:71Y+"!A(&9O=7(M
M>65A<B!E>'!I<F%T:6]N('1E<FT@=VET:"!E>'!E8W1E9`T*=&5N;W)S(&]F
M(#(@=&\@,BXT.2!Y96%R<RP@<FES:R!F<F5E(')A=&5S(&]F(#`N.#$E('1O
M(#$N,#4E(&%N9"!N;PT*9&EV:61E;F0@>6EE;&0N($9O<B!T:&4@>65A<B!E
M;F1E9"!$96-E;6)E<B`S,2P@,C`Q,2P@)#$L.30U+#`P,`T*=V%S(')E8V]G
M;FEZ960@87,@9V5N97)A;"!A;F0@861M:6YI<W1R871I=F4@97AP96YS97,N
M/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@8V5N=&5R.R!-05)'24XZ
M(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M8V5N=&5R.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P
M.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)
M3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9B<^#0I);B!L871E($UA<F-H(#(P,3$L('1H92!#;VUP86YY(&%L
M<V\@9W)A;G1E9"!T;R`Q."!M86YA9V5M96YT('-T869F#0IO<'1I;VYS('1O
M('!U<F-H87-E(#8U-"PP,#`@<VAA<F5S(&]F('1H92!#;VUP86YY)B-X,C`Q
M.3MS(&-O;6UO;@T*<W1O8VL@870@86X@97AE<F-I<V4@<')I8V4@;V8@)#0N
M.3<@<&5R('-H87)E(&%N9"!T:&4@;W!T:6]N<R!A<F4-"F5X97)C:7-A8FQE
M(&EN(&5Q=6%L(&EN<W1A;&QM96YT<R!O=F5R('!E<FEO9',@;V8@=&AR964@
M>65A<G,N(%1H90T*;W!T:6]N<R!W97)E('9A;'5E9"!A="`D,BPV,S(L,#`P
M(&9A:7(@=F%L=64L('=I=&@@87-S=6UE9"`W-RXR,B4-"G1O(#$Q."XX-"4@
M=F]L871I;&ET>2P@82!F;W5R+7EE87(@97AP:7)A=&EO;B!T97)M('=I=&@@
M97AP96-T960-"G1E;F]R<R!O9B`R('1O(#,@>65A<G,L(')I<VL@9G)E92!R
M871E<R!O9B`P+C@Q)2!T;R`Q+C(Y)2!A;F0@;F\-"F1I=FED96YD('EI96QD
M+B!&;W(@=&AE('EE87(@96YD960@1&5C96UB97(@,S$L(#(P,3$L("0W,#8L
M,#`P('=A<PT*<F5C;V=N:7IE9"!A<R!G96YE<F%L(&%N9"!A9&UI;FES=')A
M=&EV92!E>'!E;G-E<RX\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J
M=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"DEN(&5A
M<FQY($UA>2`R,#$Q+"!T:&4@0V]M<&%N>2!G<F%N=&5D('1O(&%N(&EN9&5P
M96YD96YT(&1I<F5C=&]R#0IA;B!O<'1I;VX@=&\@<'5R8VAA<V4@,3(L-3`P
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M<FT@=VET:`T*97AP96-T960@=&5N;W(@;V8@,B!Y96%R<RP@82!R:7-K(&9R
M964@<F%T92!O9B`P+C4W)2!A;F0@;F\-"F1I=FED96YD('EI96QD+B!&;W(@
M=&AE('EE87(@96YD960@1&5C96UB97(@,S$L(#(P,3$L("0Q-2PX,#`@=V%S
M#0IR96-O9VYI>F5D(&%S(&=E;F5R86P@86YD(&%D;6EN:7-T<F%T:79E(&5X
M<&5N<V5S+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[
M($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4
M+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*26X@;&%T92!*=6YE
M(#(P,3$L('1H92!#;VUP86YY(&=R86YT960@=&\@86X@:6YD97!E;F1E;G0@
M9&ER96-T;W(-"F%N(&]P=&EO;B!T;R!P=7)C:&%S92`Q,BPU,#`@<VAA<F5S
M(&]F('1H92!#;VUP86YY)B-X,C`Q.3MS(&-O;6UO;@T*<W1O8VL@870@86X@
M97AE<F-I<V4@<')I8V4@;V8@)#,N,3`@<&5R('-H87)E(&%N9"!T:&4@;W!T
M:6]N('9E<W1E9`T*:6UM961I871E;'DN(%1H92!O<'1I;VX@=V%S('9A;'5E
M9"!A="`D,34L,C`P(&9A:7(@=F%L=64L('=I=&@-"F%S<W5M960@.#8N,S8E
M('9O;&%T:6QI='DL(&$@=&AR964M>65A<B!E>'!I<F%T:6]N('1E<FT@=VET
M:`T*97AP96-T960@=&5N;W(@;V8@,2XT.2!Y96%R<RP@82!R:7-K(&9R964@
M<F%T92!O9B`P+C,R)2!A;F0@;F\-"F1I=FED96YD('EI96QD+B!&;W(@=&AE
M('EE87(@96YD960@1&5C96UB97(@,S$L(#(P,3$L("0Q-2PR,#`@=V%S#0IR
M96-O9VYI>F5D(&%S(&=E;F5R86P@86YD(&%D;6EN:7-T<F%T:79E(&5X<&5N
M<V5S+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!
M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*26X@;&%T92!397!T96UB
M97(@,C`Q,2P@=&AE($-O;7!A;GD@86YD(&-E<G1A:6X@;6%N86=E;65N="!S
M=&%F9@T*86YD(&1I<F5C=&]R<R!M=71U86QL>2!A9W)E960@=&\@8V%N8V5L
M(&-E<G1A:6X@=6YE>&5R8VES960@86YD(&%L;`T*;F]N+79E<W1E9"!S=&]C
M:R!O<'1I;VYS('!R979I;W5S;'D@9W)A;G1E9"!F;W(@86X@86=G<F5G871E
M(&]F#0HQ+#$X,2PP,#`@<VAA<F5S(&]F('1H92!#;VUP86YY)B-X,C`Q.3MS
M(&-O;6UO;B!S=&]C:RP@:&%V:6YG#0IE>&5R8VES92!P<FEC97,@8F5T=V5E
M;B`D-"XY-R!T;R`D."XR-2!P97(@<VAA<F4L('=I=&AO=70-"F-O;G-I9&5R
M871I;VXN($EN(&%C8V]R9&%N8V4@=VET:"!!4T,@-S$X+3(P+3,U+3DL("8C
M>#(P,4,[07=A<F1S#0I#;&%S<VEF:65D(&%S($5Q=6ET>2`F(W@R,#$T.R!#
M86YC96QL871I;VX@86YD(%)E<&QA8V5M96YT)B-X,C`Q1#LL#0IT:&4@0V]M
M<&%N>2!A8V-E;&5R871E9"!T:&4@<F5M86EN:6YG(&5X<&5N<V4@;VX@=&AE
M<V4@8V%N8V5L;&5D#0IA=V%R9',@=&AA="!R97-U;'1E9"!I;B`D-"PR.3@L
M,#`P(')E8V]R9&5D(&EN(&=E;F5R86P@86YD#0IA9&UI;FES=')A=&EV92!E
M>'!E;G-E(&9O<B!T:&4@>65A<B!E;F1E9"!$96-E;6)E<B`S,2P@,C`Q,2X\
M+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ
M(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"DEN($YO=F5M8F5R(#(P,3$L('1H
M92!#;VUP86YY(&=R86YT960@=&\@86X@:6YD97!E;F1E;G0@9&ER96-T;W(@
M86X-"F]P=&EO;B!T;R!P=7)C:&%S92`Q,BPU,#`@<VAA<F5S(&]F('1H92!#
M;VUP86YY)B-X,C`Q.3MS(&-O;6UO;@T*<W1O8VL@870@86X@97AE<F-I<V4@
M<')I8V4@;V8@)#(N-#$@<&5R('-H87)E(&%N9"!T:&4@;W!T:6]N('9E<W1E
M9`T*:6UM961I871E;'DN(%1H92!O<'1I;VX@=V%S('9A;'5E9"!A="`D,30L
M-#`P(&9A:7(@=F%L=64L('=I=&@-"F%S<W5M960@.30N-R4@=F]L871I;&ET
M>2P@82!T:')E92UY96%R(&5X<&ER871I;VX@=&5R;2!W:71H#0IE>'!E8W1E
M9"!T96YO<B!O9B`Q+C4@>65A<G,L(&$@<FES:R!F<F5E(')A=&4@;V8@,"XQ
M-B4@86YD(&YO#0ID:79I9&5N9"!Y:65L9"X@1F]R('1H92!Y96%R(&5N9&5D
M($1E8V5M8F5R(#,Q+"`R,#$Q+"`D,30L-#`P('=A<PT*<F5C;V=N:7IE9"!A
M<R!G96YE<F%L(&%N9"!A9&UI;FES=')A=&EV92!E>'!E;G-E<RX\+W`^#0H\
M<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX-"E1H92!F;VQL;W=I;F<@=&%B;&4@<W5M;6%R
M:7IE<R!A;&P@0V]M<&%N>2!S=&]C:R!O<'1I;VX-"G1R86YS86-T:6]N<R!B
M971W965N($IA;G5A<GD@,2P@,C`P.2!A;F0@1&5C96UB97(@,S$L(#(P,3$N
M/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE.
M.B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L
M(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQT86)L92!S='EL93TS1"=724142#H@
M,3`P)3L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9B<@8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,#X-"CQT<B!S='EL
M93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9#XF(WA!,#L\+W1D
M/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M8V5N=&5R)R!C;VQS<&%N/3-$,B!N;W=R87`],T1N;W=R87`^3G5M8F5R#0IO
M9B!/<'1I;VX\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97(G(&-O;'-P86X]
M,T0R(&YO=W)A<#TS1&YO=W)A<#Y.=6UB97(-"F]F($]P=&EO;CPO=&0^#0H\
M=&0^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(@;F]W<F%P/3-$;F]W
M<F%P/DYU;6)E<@T*;V8@3W!T:6]N/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*
M/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@8V5N
M=&5R)R!C;VQS<&%N/3-$,B!N;W=R87`],T1N;W=R87`^4F%N9V4-"F]F/"]T
M9#X-"CQT9#XF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"=615)4
M24-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9#XF(WA!,#L\+W1D/@T*/'1D/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@8V5N=&5R)R!C
M;VQS<&%N/3-$,CYA;F0@5V%R<F%N=',\+W1D/@T*/'1D/B8C>$$P.SPO=&0^
M#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C
M96YT97(G(&-O;'-P86X],T0R/F%N9"!787)R86YT<SPO=&0^#0H\=&0^)B-X
M03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^86YD(%=A<G)A;G1S/"]T9#X-
M"CQT9#XF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,B!N;W=R87`],T1N
M;W=R87`^17AE<F-I<V4-"E!R:6-E('!E<CPO=&0^#0H\=&0^)B-X03`[/"]T
M9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G5D525$E#04PM04Q)1TXZ(&)O='1O
M;2<^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/
M5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"
M3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C
M;VQS<&%N/3-$,CY/=71S=&%N9&EN9SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$
M1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0
M041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@
M8V5N=&5R)R!C;VQS<&%N/3-$,CY.;VXM=F5S=&5D/"]T9#X-"CQT9"!S='EL
M93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4
M+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/E9E<W1E9#PO=&0^#0H\=&0@
M<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@
M5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,B!N;W=R87`],T1N;W=R
M87`^0V]M;6]N(%-H87)E/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/
M5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="
M04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!
M3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M.R!415A4+4E.1$5.5#H@+3`N,6EN.R!0041$24Y'+4Q%1E0Z(#`N,6EN.R!7
M24142#H@-#`E)SX-"D)A;&%N8V4L($IA;G5A<GD@,2P@,C`P.3PO=&0^#0H\
M=&0@<W1Y;&4],T0G5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@5TE$5$@Z(#$R)2<^
M,S(U+#`P,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@
M5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q
M)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,B4G/C(Q,BPU,#`\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@
M,3(E)SXQ,3(L-3`P/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5TE$
M5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!R:6=H=#L@5TE$5$@Z(#$R)2<^)#`N.#0@+2`D,3`N,#0\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q
M)2<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.
M1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%1%6%0M24Y$14Y4.B`M,"XQ
M:6X[(%!!1$1)3D<M3$5&5#H@,"XQ:6XG/@T*1W)A;G1E9"!D=7)I;F<@=&AE
M('EE87(@96YD960@1&5C96UB97(@,S$L(#(P,#D\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^-#(V+#0W
M,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@<FEG:'0G/C0R-BPT-S$\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXM/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)#0N.#`@+2`D
M,3`N,C`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C
M>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M0T],
M3U(Z(')G8B@R,#0L,C4U+#(P-"D[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%1%6%0M24Y$14Y4
M.B`M,"XQ:6X[(%!!1$1)3D<M3$5&5#H@,"XQ:6XG/E9E<W1E9`T*9'5R:6YG
M('1H92!Y96%R(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#`Y/"]T9#X-"CQT9#XF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/BT\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO
M=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(')I9VAT)SXH-3$S+#DW,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@;&5F="<^*3PO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(')I9VAT)SXU,3,L.3<P/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)#0N.#`@+2`D
M,3`N,C`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C
M>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M0T],
M3U(Z('=H:71E.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T.R!415A4+4E.1$5.5#H@+3`N,6EN.R!0
M041$24Y'+4Q%1E0Z(#`N,6EN)SX-"D9O<F9E:71E9"!O<B!E>'!I<F5D(&1U
M<FEN9R!T:&4@>65A<B!E;F1E9"!$96-E;6)E<B`S,2P@,C`P.3PO=&0^#0H\
M=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[
M(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ
M(')I9VAT)SX-"B@R-3`L,#`P/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
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M(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/BD\+W1D/@T*/'1D('-T>6QE
M/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
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M4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ
M(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]4
M5$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B0Q
M,"XP-"8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.
M1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4]
M,T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#
M04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F=#L@5$585"U)3D1%3E0Z("TP+C%I;CL@4$%$1$E.1RU,1494.B`P+C%I
M;B<^#0I"86QA;F-E+"!$96-E;6)E<B`S,2P@,C`P.3PO=&0^#0H\=&0^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXU,#$L
M-#<Q/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!R:6=H="<^+3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@<FEG:'0G/C4P,2PT-S$\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXD,"XX-"`M
M("0Q,"XR,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^
M)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#
M3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%1%6%0M24Y$14Y4.B`M,"XQ:6X[
M(%!!1$1)3D<M3$5&5#H@,"XQ:6XG/@T*1W)A;G1E9"!A;F0@=F5S=&5D(&1U
M<FEN9R!T:&4@>65A<B!E;F1E9"!$96-E;6)E<B`S,2P@,C`Q,#PO=&0^#0H\
M=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT
M)SXQ.#(L-3`P/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!R:6=H="<^+3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C$X,BPU,#`\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXD
M."XR-2`M("0Q,BXP,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=2
M3U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ
M(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5$58
M5"U)3D1%3E0Z("TP+C%I;CL@4$%$1$E.1RU,1494.B`P+C%I;B<^#0I%>&5R
M8VES960@9'5R:6YG('1H92!Y96%R(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$P
M/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P
M="!S;VQI9#L@5$585"U!3$E'3CH@;&5F="<^#0HF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$58
M5"U!3$E'3CH@<FEG:'0G/@T**#(R-2PP,#`\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/BD\+W1D
M/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO
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M('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!4
M15A4+4%,24=..B!L969T)SX-"B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!R
M:6=H="<^#0HH,C(U+#`P,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^*3PO=&0^#0H\=&0@<W1Y
M;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M
M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$
M15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT
M)SXD,2XT-`T*+2`D."XR,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO
M='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%
M4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0[(%1%6%0M24Y$14Y4.B`M,"XQ:6X[(%!!1$1)3D<M3$5&5#H@
M,"XQ:6XG/@T*0F%L86YC92P@1&5C96UB97(@,S$L(#(P,3`\+W1D/@T*/'1D
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^
M-#4X+#DW,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^
M)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@<FEG:'0G/BT\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXT-3@L.3<Q/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)#`N
M.#0@+2`D,3(N,#`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM'4D]5
M3D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"D[(%9%4E1)0T%,+4%,24=..B!B
M;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%1%6%0M
M24Y$14Y4.B`M,"XQ:6X[(%!!1$1)3D<M3$5&5#H@,"XQ:6XG/@T*1W)A;G1E
M9"!D=7)I;F<@=&AE('EE87(@96YD960@1&5C96UB97(@,S$L(#(P,3$\+W1D
M/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R
M:6=H="<^,2PY-30L,#`P/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H="<^,2PY-30L,#`P/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
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M3D1%3E0Z("TP+C%I;CL@4$%$1$E.1RU,1494.B`P+C%I;B<^5F5S=&5D#0ID
M=7)I;F<@=&AE('EE87(@96YD960@1&5C96UB97(@,S$L(#(P,3$\+W1D/@T*
M/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H
M="<^+3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@<FEG:'0G/B@Y,3@L,#`P/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXI/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/CDQ."PP,#`\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXD,BXT
M,2`M("0Q,BXV,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.
M1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O
M='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5$585"U)
M3D1%3E0Z("TP+C%I;CL@4$%$1$E.1RU,1494.B`P+C%I;B<^#0I%>&5R8VES
M960@9'5R:6YG('1H92!Y96%R(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$Q/"]T
M9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M<FEG:'0G/B@Q,BPU,#`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0G/BD\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!R:6=H="<^+3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/B@Q,BPU,#`\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/BD\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^#0HD,"XX
M-"8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C>$$P.R8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/
M4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%1%6%0M24Y$14Y4.B`M,"XQ:6X[(%!!
M1$1)3D<M3$5&5#H@,"XQ:6XG/@T*1F]R9F5I=&5D+"!C86YC96QE9"!O<B!E
M>'!I<F5D(&1U<FEN9R!T:&4@>65A<B!E;F1E9"!$96-E;6)E<B`S,2P-"C(P
M,3$\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@
M,7!T('-O;&ED.R!415A4+4%,24=..B!L969T)SX-"B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!4
M15A4+4%,24=..B!R:6=H="<^#0HH,2PR-38L,#`P/"]T9#X-"CQT9"!S='EL
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M5"U!3$E'3CH@<FEG:'0G/@T**#$L,#,V+#`P,#PO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^*3PO
M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M
M04Q)1TXZ(')I9VAT)SX-"B@R,C`L,#`P/"]T9#X-"CQT9"!S='EL93TS1"=4
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M5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@
M<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5$585"U)3D1%3E0Z("TP
M+C%I;CL@4$%$1$E.1RU,1494.B`P+C%I;CL@5D525$E#04PM04Q)1TXZ(&UI
M9&1L92<^#0I"86QA;F-E+"!$96-E;6)E<B`S,2P@,C`Q,3PO=&0^#0H\=&0@
M<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N-7!T(&1O=6)L
M93L@5$585"U!3$E'3CH@;&5F="<^#0HF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N-7!T(&1O=6)L93L@5$585"U!
M3$E'3CH@<FEG:'0G/@T*,2PQ-#0L-#<Q/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,BXU<'0G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K
M(#(N-7!T(&1O=6)L93L@5$585"U!3$E'3CH@;&5F="<^#0HF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N-7!T(&1O
M=6)L93L@5$585"U!3$E'3CH@<FEG:'0G/@T*+3PO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`R+C5P
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B
M;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P
M="!D;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C$L,30T+#0W,3PO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U14
M3TTZ(#(N-7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M
M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$
M15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE
M9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-
M.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B0R
M+C0Q("T@)#$R+C8P/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!0041$24Y'+4)/5%1/33H@,BXU<'0G/B8C>$$P.SPO=&0^#0H\+W1R
M/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D].
M5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!
M,#L\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P
M/@T*/'1A8FQE('-T>6QE/3-$)U=)1%1(.B`Q,#`E.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL<W!A8VEN9STS1#`@
M8V5L;'!A9&1I;F<],T0P/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,+4%,24=.
M.B!B;W1T;VTG/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$
M1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="
M3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E
M;G1E<B<@8V]L<W!A;CTS1#$S/E-T;V-K(&%N9"!787)R86YT<R!/<'1I;VYS
M($]U='-T86YD:6YG/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G5D525$E#
M04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0^)B-X03`[/"]T9#X-"CQT9#XF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L
M<W!A;CTS1#(^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@8V5N=&5R)R!C
M;VQS<&%N/3-$,CXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97(G
M(&-O;'-P86X],T0R/E=E:6=H=&5D($%V97)A9V4\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!C96YT97(G/E=E:6=H=&5D($%V97)A9V4\+W1D/@T*/"]T<CX-"CQT
M<B!S='EL93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!N;W=R
M87`],T1N;W=R87`^)B-X03`[/"]T9#X-"CQT9"!N;W=R87`],T1N;W=R87`^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97(G
M(&-O;'-P86X],T0R(&YO=W)A<#TS1&YO=W)A<#X-"D]U='-T86YD:6YG/"]T
M9#X-"CQT9"!N;W=R87`],T1N;W=R87`^)B-X03`[/"]T9#X-"CQT9"!N;W=R
M87`],T1N;W=R87`^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!C96YT97(G(&-O;'-P86X],T0R(&YO=W)A<#TS1&YO=W)A<#X-"B8C
M>$$P.SPO=&0^#0H\=&0@;F]W<F%P/3-$;F]W<F%P/B8C>$$P.SPO=&0^#0H\
M=&0@;F]W<F%P/3-$;F]W<F%P/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,B!N;W=R87`],T1N;W=R
M87`^#0I296UA:6YI;F<\+W1D/@T*/'1D(&YO=W)A<#TS1&YO=W)A<#XF(WA!
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M1#(@;F]W<F%P/3-$;F]W<F%P/F%T#0I$96-E;6)E<B`S,2P\+W1D/@T*/'1D
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M3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,B!N;W=R87`],T1N;W=R87`^#0I#
M;VYT<F%C='5A;"!,:69E/"]T9#X-"CQT9"!N;W=R87`],T1N;W=R87`^)B-X
M03`[/"]T9#X-"CQT9"!N;W=R87`],T1N;W=R87`^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97(G(&YO=W)A<#TS1&YO=W)A
M<#Y/<'1I;VYS#0I#=7)R96YT;'D\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS
M1"=615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9#XF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED
M.R!415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/C(P,3$\+W1D/@T*
M/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L
M:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^17AE<F-I<V4@
M4')I8V5S/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q
M<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@
M8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!C96YT97(G(&-O;'-P86X]
M,T0R/BA996%R<RD\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-
M.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U14
M3TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]4
M5$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<^#0I/
M=71S=&%N9&EN9SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM'4D]5
M3D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"D[(%9%4E1)0T%,+4%,24=..B!B
M;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(
M.B`S,"4G/D5X97)C:7-A8FQE#0IA;F0F(WA!,#MO=71S=&%N9&EN9SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@5TE$5$@Z(#$U
M)2<^,2PQ-#0L-#<Q/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5TE$
M5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0[(%=)1%1(.B`Q)2<^)"8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Q-24G/C(N-#$@+2`D,3(N-C`\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q
M)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=724142#H@,24G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z
M(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I
M9VAT.R!724142#H@,34E)SXR+CDQ/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5TE$5$@Z(#$E)SXD)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!C96YT97([(%=)1%1(.B`Q-24G/C8N,S`\+W1D/@T*/"]T
M<CX-"CPO=&%B;&4^#0H\<"!S='EL93TS1"=-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X
M03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%2
M1TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX-"E1H92!W96EG:'1E9"!A=F5R86=E(&=R86YT+61A=&4@
M9F%I<B!V86QU97,@87,@870@1&5C96UB97(@,S$L#0HR,#$Q+"`R,#$P(&%N
M9"`R,#`Y('=E<F4@)#<N,CDL("0X+C@S(&%N9"`D-BXX-"P@<F5S<&5C=&EV
M96QY+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!
M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*070@1&5C96UB97(@,S$L
M(#(P,3$@86YD(#(P,3`L('1H92!A9V=R96=A=&4@:6YT<FEN<VEC('9A;'5E
M(&]F('1H90T*<W1O8VL@;W!T:6]N<R!A;F0@=V%R<F%N=',@=V5R92`D,2PS
M.#(L-C$R(&%N9"`D-S4L-C0W+`T*<F5S<&5C=&EV96QY+CPO<#X-"@T*#0H\
M+V1I=CX\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T
M86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]7TYE>'1087)T
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M;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT
M+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS
M8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J
M($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D
M/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)
M1#!%040^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O
M;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^24Y#3TU%(%1!6$53/&)R
M/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P
M86X],T0Q/C$R($UO;G1H<R!%;F1E9#PO=&@^#0H@("`@("`\+W1R/@T*("`@
M("`@/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T:#Y$96,N(#,Q+"`R,#$Q
M/&)R/CPO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$<F4^
M#0H@("`@("`@(#QT9"!C;&%S<STS1'!L('9A;&EG;CTS1'1O<#Y)3D-/344@
M5$%815,\+W1D/@T*("`@("`@("`\=&0@8VQA<W,],T1T97AT/CQD:78^#0H\
M<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T*3D]412`Q-2`F(W@R,#$S.R!)3D-/344@5$%815,\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X
M03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%2
M1TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX-"E1H92!#;VUP86YY('5T:6QI>F5S('1H92!A<W-E="!A
M;F0@;&EA8FEL:71Y(&UE=&AO9"!O9B!A8V-O=6YT:6YG#0IF;W(@:6YC;VUE
M('1A>&5S(&EN(&%C8V]R9&%N8V4@=VET:"!&05-"($%30R`W-#`M,3`N/"]P
M/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P
M<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
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M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*1W5L
M9B!297-O=7)C97,L($EN8RX@:7,@<W5B:F5C="!T;R!T:&4@56YI=&5D(%-T
M871E<R!O9B!!;65R:6-A(%1A>`T*;&%W(&%T('1A>"!R871E(&]F(#,T)2X@
M3F\@<')O=FES:6]N(&9O<B!T:&4@55,@9F5D97)A;"!I;F-O;64-"G1A>&5S
M(&AA<R!B965N(&UA9&4@87,@=&AE($-O;7!A;GD@:&%D(&YO(%53('1A>&%B
M;&4@:6YC;VUE(&9O<B!T:&4-"GEE87)S(&5N9&5D($1E8V5M8F5R(#,Q+"`R
M,#$Q+"`R,#$P(&%N9"`R,#`Y+"!A;F0@;6%N86=E;65N=`T*8F5L:65V97,@
M=&AA="!I=',@96%R;FEN9W,@87)E('!E<FUA;F5N=&QY(&EN=F5S=&5D(&EN
M('1H92!04D,N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HH8BDF(WA!,#LF
M(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!
M,#LF(WA!,#LF(WA!,#M"5DD\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=.
M.B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y
M;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"E5P
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M92!Y96%R<R!E;F1E9"`S,2!$96-E;6)E<B`S,2P@,C`Q,2P@,C`Q,`T*86YD
M(#(P,#DN/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@
M34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HH8RDF(WA!,#LF(WA!
M,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF(WA!,#LF
M(WA!,#LF(WA!,#M(;VYG#0I+;VYG/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!
M3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
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M(&]R(&1E<FEV960@9G)O;2!(;VYG($MO;F<N)B-X03`[)B-X03`[3F\-"G!R
M;W9I<VEO;B!F;W(@<')O9FET<R!T87@@:&%S(&)E96X@;6%D92!A<R!T:&4@
M0V]M<&%N>2!H87,@;F\-"F%S<V5S<V%B;&4@:6YC;VUE(&9O<B!T:&4@>65A
M<G,N)B-X03`[)B-X03`[5&AE(&%P<&QI8V%B;&4-"G-T871U=&]R>2!T87@@
M<F%T97,@9F]R('1H92!Y96%R<R!E;F1E9"!$96-E;6)E<B`S,2P@,C`Q,2P@
M,C`Q,"!A;F0-"C(P,#D@87)E(#$V+C4E+CPO<#X-"CQP('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T**&0I)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[
M)B-X03`[)B-X03`[)B-X03`[)B-X03`[)B-X03`[4%)#/"]P/@T*/'`@<W1Y
M;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C
M>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!
M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9B<^#0I%;G1E<G!R:7-E(&EN8V]M92!T87@@*"8C>#(P,4,[
M14E4)B-X,C`Q1#LI(&9O<B!30TA#(&%N9"!364-)(&EN('1H90T*4%)#(&ES
M(&-H87)G960@870@,C4E(&]F('1H92!A<W-E<W-A8FQE('!R;V9I=',N/"]P
M/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P
M<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU
M<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^#0I4:&4@;W!E<F%T:6YG('-U8G-I9&EA
M<FEE<R!30TA#(&%N9"!364-)(&%R92!W:&]L;'D@9F]R96EG;BUO=VYE9`T*
M96YT97)P<FES97,@*"8C>#(P,4,[1DE%)B-X,C`Q1#LI(&EN8V]R<&]R871E
M9"!I;B!T:&4@4%)#(&%N9"!A<F4-"G-U8FIE8W0@=&\@4%)#($9O<F5I9VX@
M16YT97)P<FES92!);F-O;64@5&%X($QA=RX\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P
M/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P
M<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF)SX-"D]N($9E8G)U87)Y(#(R+"`R,#`X+"!T:&4@36EN:7-T<GD@;V8@
M1FEN86YC92`H)B-X,C`Q0SM-3T8F(W@R,#%$.RD-"F%N9"!T:&4@4W1A=&4@
M061M:6YI<W1R871I;VX@;V8@5&%X871I;VX@*"8C>#(P,4,[4T%4)B-X,C`Q
M1#LI#0IJ;VEN=&QY(&ES<W5E9"!#86D@4VAU:2!;,C`P.%T@0VER8W5L87(@
M,2`H)B-X,C`Q0SM#:7)C=6QA<@T*,28C>#(P,40[*2X@06-C;W)D:6YG('1O
M($%R=&EC;&4@-"!O9B!#:7)C=6QA<B`Q+"!D:7-T<FEB=71I;VYS(&]F#0IA
M8V-U;75L871E9"!P<F]F:71S(&5A<FYE9"!B>2!A($9)12!P<FEO<B!T;R!*
M86YU87)Y(#$L(#(P,#@@=&\-"F9O<F5I9VX@:6YV97-T;W(H<RD@:6X@,C`P
M."!W:6QL(&)E(&5X96UP=&5D(&9R;VT@=VET:&AO;&1I;F<@=&%X#0HH)B-X
M,C`Q0SM72%0F(W@R,#%$.RD@=VAI;&4@9&ES=')I8G5T:6]N(&]F('1H92!P
M<F]F:70@96%R;F5D(&)Y(&%N#0I&244@869T97(@2F%N=6%R>2`Q+"`R,#`X
M('1O(&ET<R!F;W)E:6=N(&EN=F5S=&]R*',I('-H86QL(&)E#0IS=6)J96-T
M('1O(%=(5"!A="`U)2!E9F9E8W1I=F4@=&%X(')A=&4N/"]P/@T*/'`@<W1Y
M;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C
M>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!
M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
M;65S+"!397)I9B<^#0I!<R!O9B!$96-E;6)E<B`S,2P@,C`Q,2!A;F0@,C`Q
M,"P@=&AE(&%C8W5M=6QA=&5D(&1I<W1R:6)U=&%B;&4-"F5A<FYI;F=S('5N
M9&5R('1H92!'96YE<F%L;'D@06-C97!T960@06-C;W5N=&EN9R!0<FEN8VEP
M;&5S#0HH)B-X,C`Q0SM'04%0)B-X,C`Q1#LI(&]F(%!20R!A<F4@)#$X,"PY
M,SDL,3@W(&%N9"`D,3(Y+#(P,2PR-C@L#0IR97-P96-T:79E;'DN(%-I;F-E
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M,S$L(#(P,3$@86YD(#(P,3`L('1H92!#;VUP86YY(&AA<R!N;W0-"G)E8V]R
M9&5D(&%N>2!72%0@;VX@=&AE(&-U;75L871I=F4@86UO=6YT(&]F(&1I<W1R
M:6)U=&%B;&4@<F5T86EN960-"F5A<FYI;F=S(&]F(&ET<R!F;W)E:6=N(&EN
M=F5S=&5D(&5N=&5R<')I<V5S(&EN($-H:6YA+B!!<R!O9@T*1&5C96UB97(@
M,S$L(#(P,3$@86YD(#(P,3`L('1H92!U;G)E8V]G;FEZ960@5TA4(&%R92`D
M-RPY-C4L.3DY(&%N9`T*)#4L-#,Q+#8Q-BP@<F5S<&5C=&EV96QY+CPO<#X-
M"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T
M(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!C96YT
M97([($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*5&AE(&-O;7!O
M;F5N=',@;V8@=&AE('!R;W9I<VEO;B!F;W(@:6YC;VUE('1A>&5S(&9R;VT@
M8V]N=&EN=6EN9PT*;W!E<F%T:6]N<R!A<F4Z/"]P/@T*/'`@<W1Y;&4],T0G
M5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO
M<#X-"CQT86)L92!S='EL93TS1"=724142#H@,3`P)3L@1D].5#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<@8V5L;'-P86-I;F<],T0P
M(&-E;&QP861D:6YG/3-$,#X-"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'
M3CH@8F]T=&]M)SX-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!
M1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!C
M96YT97(G(&-O;'-P86X],T0Q,"!N;W=R87`],T1N;W=R87`^665A<G,@96YD
M960@1&5C96UB97(@,S$L/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/
M5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"=6
M15)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9#XF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!4
M15A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/C(P,3$\+W1D/@T*/'1D
M('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[
M(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^,C`Q,#PO=&0^#0H\
M=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI
M9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,CXR,#`Y/"]T9#X-
M"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D
M/@T*/"]T<CX-"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M
M)SX-"CQT9#XF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,CXF(WA!,#L\
M+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/B8C>$$P
M.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^)B-X
M03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS
M1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)424-!
M3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@-C$E)SY#=7)R96YT('1A>&5S("8C>#(P,3,[#0I04D,\
M+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B0\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@,3`E
M)SXQ-2PY-S(L-3$X/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5TE$
M5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0[(%=)1%1(.B`Q)2<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/C$X+#`V-BPR.3<\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=724142#H@,24G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXD/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@5TE$5$@Z(#$P
M)2<^,3$L,C8V+#4V-#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL
M93TS1"="04-+1U)/54Y$+4-/3$]2.B!W:&ET93L@5D525$E#04PM04Q)1TXZ
M(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$
M1$E.1RU"3U143TTZ(#%P="<^1&5F97)R960@=&%X#0HF(W@R,#$S.R!04D,\
M+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T
M('-O;&ED.R!415A4+4%,24=..B!L969T)SX-"B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4
M+4%,24=..B!R:6=H="<^#0HH,BPU-CDL-C0W/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T)SXI/"]T
M9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S
M;VQI9#L@5$585"U!3$E'3CH@;&5F="<^#0HF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!
M3$E'3CH@<FEG:'0G/@T**#$Q+#0T.#PO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^*3PO=&0^#0H\
M=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[
M(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ
M(')I9VAT)SX-"B@X,BPQ-C8\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/BD\+W1D/@T*/"]T<CX-
M"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR
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M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT
M)SX-"C$S+#0P,BPX-S$\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CQT
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M+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R
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M;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
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M(WA!,#L\+W`^#0H\=&%B;&4@<W1Y;&4],T0G5TE$5$@Z(#$P,"4[($9/3E0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G(&-E;&QS<&%C
M:6YG/3-$,"!C96QL<&%D9&EN9STS1#`^#0H\='(@<W1Y;&4],T0G5D525$E#
M04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!
M3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,3`@;F]W<F%P/3-$;F]W<F%P/EEE
M87)S(&5N9&5D($1E8V5M8F5R(#,Q+#PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$
M1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y
M;&4],T0G5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S
M;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,CXR,#$Q/"]T
M9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T
M('-O;&ED.R!415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/C(P,3`\
M+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q
M<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^,C`P
M.3PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X
M03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G5D525$E#04PM04Q)1TXZ
M(&)O='1O;2<^#0H\=&0^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^
M)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$
M,CXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97(G(&-O;'-P86X]
M,T0R/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@
M<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@
M5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F=#L@5TE$5$@Z(#8Q)2<^4W1A='5T;W)Y(&EN8V]M92!T87@-
M"G)A=&4\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[
M(%=)1%1(.B`Q,"4G/C(U/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T.R!724142#H@,24G/B4\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(
M.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/C(U/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B4\+W1D/@T*/'1D
M('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/C(U
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@
M,24G/B4\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/
M3$]2.B!W:&ET93L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0^3F]N
M+71A>&%B;&4@:71E;7,\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H="<^*#$\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/BDE/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C`\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B4\+W1D/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
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M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H="<^,#PO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)3PO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT
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M1$1)3D<M0D]45$]-.B`Q<'0G/E53(&9E9&5R86P@;F5T#0IO<&5R871I;F<@
M;&]S<SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C
M:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[
M(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C,\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B4\+W1D/@T*
M/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^
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M(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^169F96-T:79E('1A>`T*<F%T93PO
M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N
M-7!T(&1O=6)L93L@5$585"U!3$E'3CH@;&5F="<^#0HF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N-7!T(&1O=6)L
M93L@5$585"U!3$E'3CH@<FEG:'0G/@T*,S`\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)3PO
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M)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)3PO
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M)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)3PO
M=&0^#0H\+W1R/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)TU!4D=)3CH@,'!T
M(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I
M9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T
M:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/@T*07,@;V8@1&5C96UB97(@,S$L(#(P,3$@
M86YD(#(P,3`L('1H92!#;VUP86YY(&AA9"!54R!F961E<F%L(&YE=`T*;W!E
M<F%T:6YG(&QO<W,@*"8C>#(P,4,[3D],)B-X,C`Q1#LI(&]F(&%P<')O>&EM
M871E;'D@)#,P(&UI;&QI;VX@86YD#0HD,C4@;6EL;&EO;B!A=F%I;&%B;&4@
M=&\@;V9F<V5T(&%G86EN<W0@9G5T=7)E(&9E9&5R86P@:6YC;VUE('1A>`T*
M;&EA8FEL:71I97,L(')E<W!E8W1I=F5L>2XF(WA!,#LF(WA!,#M.3TP@8V%N
M(&)E(&-A<G)I960@9F]R=V%R9"!U<`T*=&\@,34@>65A<G,@9G)O;2!T:&4@
M>65A<B!T:&4@;&]S<R!I<R!I;F-U<G)E9"X@3D],(&]F#0IA<'!R;WAI;6%T
M96QY("0Q,B!M:6QL:6]N('=I;&P@97AP:7)E(&%T('1H92!B96=I;FYI;F<@
M;V8@,C`Q-"X@5&AE#0I#;VUP86YY(&)E;&EE=F5S('1H92!R96%L:7IA=&EO
M;B!O9B!B96YE9FET<R!F<F]M('1H97-E(&QO<W-E<PT*<F5M86EN<R!U;F-E
M<G1A:6X@9'5E('1O('1H92!#;VUP86YY)B-X,C`Q.3MS(&QI;6ET960@;W!E
M<F%T:6YG#0IH:7-T;W)Y(&%N9"!C;VYT:6YU:6YG(&QO<W-E<RX@06-C;W)D
M:6YG;'DL(&$@,3`P)2!D969E<G)E9"!T87@-"F%S<V5T('9A;'5A=&EO;B!A
M;&QO=V%N8V4@:&%S(&)E96X@<')O=FED960N/"]P/@T*/'`@<W1Y;&4],T0G
M5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q
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M<&]R87)Y+`T*87)E(')E8V]R9&5D(&%S(&1E9F5R<F5D('1A>"!A<W-E=',@
M86YD(&QI86)I;&ET:65S+B!3:6=N:69I8V%N=`T*8V]M<&]N96YT<R!O9B!T
M:&4@0V]M<&%N>28C>#(P,3D[<R!D969E<G)E9"!T87@@87-S971S(&%N9`T*
M;&EA8FEL:71I97,@870@1&5C96UB97(F(WA!,#LS,2P@,C`Q,2!A;F0@,C`Q
M,"!A<F4@87,@9F]L;&]W<SH\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=.
M.B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'1A8FQE
M('-T>6QE/3-$)U=)1%1(.B`Q,#`E.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I
M;F<],T0P/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VTG
M/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U14
M3TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]4
M5$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L
M<W!A;CTS1#8^07,@;V8@1&5C96UB97(@,S$L/"]T9#X-"CQT9"!S='EL93TS
M1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT
M<B!S='EL93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9#XF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@
M,7!T('-O;&ED.R!415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/C(P
M,3$\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C
M:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^
M,C`Q,#PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^
M)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#
M3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O
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M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXD/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H="<^+3PO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4]
M,T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B
M;W1T;VTG/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF
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M.B`M,C=P=#L@4$%$1$E.1RU,1494.B`R-W!T)SY$969E<G)E9`T*=&%X(&%S
M<V5T<SH\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/"]T
M<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!W:&ET93L@5D52
M5$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@;&5F=#L@5$585"U)3D1%3E0Z("TR-W!T.R!0041$24Y'+4Q%1E0Z(#`N
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M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXD/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@5TE$5$@Z(#$P)2<^
M,2PV-S0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)
M1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#
M2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)
M1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@
M5$585"U)3D1%3E0Z("TR-W!T.R!0041$24Y'+4Q%1E0Z(#`N-6EN)SX-"DEM
M<&%I<FUE;G0@;VX@<')O<&5R='DL('!L86YT(&%N9"!E<75I<&UE;G0\+W1D
M/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R
M:6=H="<^-C,Y+#`S,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@<FEG:'0G/BT\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE
M/3-$)T)!0TM'4D]53D0M0T],3U(Z('=H:71E.R!615)424-!3"U!3$E'3CH@
M8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!415A4
M+4E.1$5.5#H@+3(W<'0[(%!!1$1)3D<M3$5&5#H@,"XU:6XG/@T*17AP;&]R
M871I;VX@8V]S=',\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H="<^,2PW.3<L,SDQ/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P
M-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5$585"U)3D1%3E0Z("TR-W!T.R!0
M041$24Y'+4Q%1E0Z(#`N-6EN)SY297!A:7(-"F%N9"!M86EN=&5N86YC92!C
M;W-T<SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(')I9VAT)SXR,C0L.3@T/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\
M='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,
M+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0[(%1%6%0M24Y$14Y4.B`M,C=P=#L@4$%$1$E.1RU,1494.B`P+C5I;B<^
M#0I0<F]P97)T>2P@<&QA;G0@86YD(&5Q=6EP;65N=#PO=&0^#0H\=&0^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXX,2PP
M-C`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P
M.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(')I9VAT)SXY."PP,C`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!
M0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"D[(%9%4E1)0T%,+4%,
M24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[
M(%1%6%0M24Y$14Y4.B`M,C=P=#L@4$%$1$E.1RU,1494.B`P+C5I;B<^#0I0
M<F]P97)T>2P@<&QA;G0@86YD(&5Q=6EP;65N="!U;F1E<B!C87!I=&%L(&QE
M87-E<SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(')I9VAT)SXH."PP,#$\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0G/BD\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y
M;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=.
M.B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!
M1$1)3D<M0D]45$]-.B`Q<'0[(%1%6%0M24Y$14Y4.B`M,C=P=#L@4$%$1$E.
M1RU,1494.B`P+C5I;B<^#0I54R!F961E<F%L(&YE="!O<&5R871I;F<@;&]S
M<SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q
M<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%
M6%0M04Q)1TXZ(')I9VAT)SX-"C$P+#$Q,2PX,C$\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C
M:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[
M(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C<L-CDX+#(R-3PO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^
M)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#
M3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O
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M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
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M0D]45$]-.B`Q<'0G/BD\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]4
M5$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/
M5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!L969T)SX-"B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@
M,7!T('-O;&ED.R!415A4+4%,24=..B!R:6=H="<^#0HH-RPV.3@L,C(U/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/
M5%1/33H@,7!T)SXI/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=2
M3U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ
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M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[
M(%1%6%0M04Q)1TXZ(')I9VAT)SX-"CDY+#8Y-#PO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF
M(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/
M3$]2.B!W:&ET93L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0^)B-X
M03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@<FEG:'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^
M#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L
M,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F=#L@5$585"U)3D1%3E0Z("TR-W!T.R!0041$24Y'
M+4Q%1E0Z(#(W<'0G/D-U<G)E;G0-"F1E9F5R<F5D('1A>"!A<W-E=#PO=&0^
M#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T)SXD/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^
M,C(X+#<P,CPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^
M)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
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M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXD/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^
M#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G34%21TE..B`P<'0@,'!X.R!&3TY4
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P
M.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)
M3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9B<^#0I4:&4@:6YC<F5A<V4@:6X@=F%L=6%T:6]N(&%L;&]W86YC
M92!F;W(@96%C:"!O9B!T:&4@>65A<G,@96YD960-"D1E8V5M8F5R(#,Q+"`R
M,#$Q+"`R,#$P(&%N9"`R,#`Y(&ES("0R+#0Q,RPU.38L("0Q+#`P-2PW.3D@
M86YD#0HD,2PQ,#$L.#`P+"!R97-P96-T:79E;'DN/"]P/@T*/'`@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P
M.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)
M3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9B<^#0I4:&5R92!W87,@;F\@=6YR96-O9VYI>F5D('1A>"!B96YE
M9FET<R!A;F0@86-C<G5A;"!F;W(@=6YC97)T86EN#0IT87@@<&]S:71I;VYS
M(&%S(&]F($1E8V5M8F5R(#,Q+"`R,#$Q(&%N9"`R,#$P+CPO<#X-"CQP('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@
M1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF
M(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-
M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T*5&%X(')E='5R;G,@9FEL960@<F5G87)D:6YG('1A
M>"!Y96%R<R!F<F]M(#(P,#4@=&AR;W5G:"`R,#$Q(&%R90T*<W5B:F5C="!T
M;R!R979I97<@8GD@=&AE(')E<W!E8W1I=F4@=&%X(&%U=&AO<FET:65S+CPO
M<#X-"@T*#0H\+V1I=CX\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^
M#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]
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M:2(-"@T*/&AT;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78]
M,T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]
M=71F+3@G/CQS8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13
M:&]W+FIS/B\J($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I
M<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O
M<G0@:60],T1)1#!%040^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1L(&-O;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^0E5324Y%
M4U,@4T5'345.5%,\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L
M87-S/3-$=&@@8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T:#X-"B`@
M("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H
M/D1E8RX@,S$L(#(P,3$\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\
M='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N
M/3-$=&]P/D)54TE.15-3(%-%1TU%3E13/"]T9#X-"B`@("`@("`@/'1D(&-L
M87-S/3-$=&5X=#X\9&EV/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"DY/5$4@,38@)B-X,C`Q,SL@0E5324Y%
M4U,@4T5'345.5%,\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T
M:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G
M5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"E1H92!#;VUP
M86YY(&AA<R!T:')E92!R97!O<G1A8FQE('-E9VUE;G1S.B8C>$$P.R8C>$$P
M.V)R;VUI;F4L#0IC<G5D92!S86QT(&%N9"!C:&5M:6-A;"!P<F]D=6-T<RXF
M(WA!,#LF(WA!,#M4:&4@<F5P;W)T86)L90T*<V5G;65N=',@87)E(&-O;G-I
M<W1E;G0@=VET:"!H;W<@;6%N86=E;65N="!V:65W<R!T:&4@;6%R:V5T<PT*
M<V5R=F5D(&)Y('1H92!#;VUP86YY(&%N9"!T:&4@9FEN86YC:6%L(&EN9F]R
M;6%T:6]N('1H870@:7,-"G)E=FEE=V5D(&)Y(&ET<R!C:&EE9B!O<&5R871I
M;F<@9&5C:7-I;VX@;6%K97(N(%1H92!#;VUP86YY(&UA;F%G97,-"FET<R!S
M96YS;W)S(&%N9"!C;VYT<F]L<R!B=7-I;F5S<V5S(&%S(&-O;7!O;F5N=',@
M;V8@86X@96YT97)P<FES90T*9F]R('=H:6-H('-E<&%R871E(&EN9F]R;6%T
M:6]N(&ES(&%V86EL86)L92!A;F0@:7,@979A;'5A=&5D#0IR96=U;&%R;'D@
M8GD@=&AE(&-H:65F(&]P97)A=&EN9R!D96-I<VEO;B!M86ME<B!I;B!D96-I
M9&EN9R!H;W<@=&\-"F%L;&]C871E(')E<V]U<F-E<R!A;F0@87-S97-S('!E
M<F9O<FUA;F-E+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I
M9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*06X@;W!E<F%T
M:6YG('-E9VUE;G0F(W@R,#$Y.W,@<&5R9F]R;6%N8V4@:7,@<')I;6%R:6QY
M(&5V86QU871E9`T*8F%S960@;VX@<V5G;65N="!O<&5R871I;F<@:6YC;VUE
M+"!W:&EC:"!E>&-L=61E<R!S:&%R92UB87-E9`T*8V]M<&5N<V%T:6]N(&5X
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M(&%S(&%C8V]U;G1I;F<L('1R96%S=7)Y+`T*:6YF;W)M871I;VX@=&5C:&YO
M;&]G>2P@;&5G86PL(&AU;6%N(')E<V]U<F-E<RP@86YD(&EN=&5R;F%L(&%U
M9&ET+@T*5&AE($-O;7!A;GD@8F5L:65V97,@=&AA="!S96=M96YT(&]P97)A
M=&EN9R!I;F-O;64L(&%S(&1E9FEN960-"F%B;W9E+"!I<R!A;B!A<'!R;W!R
M:6%T92!M96%S=7)E(&9O<B!E=F%L=6%T:6YG('1H92!O<&5R871I;F<-"G!E
M<F9O<FUA;F-E(&]F(&ET<R!S96=M96YT<RX\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P
M/@T*/'1A8FQE('-T>6QE/3-$)U=)1%1(.B`Q,#`E.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL<W!A8VEN9STS1#`@
M8V5L;'!A9&1I;F<],T0P/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,+4%,24=.
M.B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD)SY9
M96%R($5N9&5D/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^)B-X03`[/"]T9#X-
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M1D].5"U714E'2%0Z(&)O;&0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97(G(&-O;'-P86X]
M,T0R/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A
M;CTS1#(^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/"]T<CX-"CQT
M<B!S='EL93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL
M93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[($9/3E0M5T5)
M1TA4.B!B;VQD)SX-"D1E8V5M8F5R(#,Q+"`R,#$Q/"]T9#X-"CQT9"!S='EL
M93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C
M:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].5"U714E'2%0Z
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M+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M
M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)
M3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI
M9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4+5=%24=(5#H@8F]L9"<@8V]L
M<W!A;CTS1#(^4')O9'5C=',\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M
M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4
M.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U14
M3TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4
M+5=%24=(5#H@8F]L9"<@8V]L<W!A;CTS1#(^5&]T86P\+W1D/@T*/'1D('-T
M>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q
M<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'
M3CH@8V5N=&5R.R!&3TY4+5=%24=(5#H@8F]L9"<@8V]L<W!A;CTS1#(^0V]R
M<&]R871E/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T
M.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q
M<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].5"U714E'2%0Z(&)O
M;&0G(&-O;'-P86X],T0R/E1O=&%L/"]T9#X-"CQT9"!S='EL93TS1"=0041$
M24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T
M9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B
M*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@
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M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G
M/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!72414
M2#H@.24G/C$U+#DQ."PV-34\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
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M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^
M)#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(
M.B`Y)2<^,38T+#DX,"PT-3,\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
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M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)#PO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Y)2<^,38T
M+#DX,"PT-3,\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[
M(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G
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M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G
M/BT\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P
M.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(')I9VAT)SXM/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H="<^,BPY-SDL.#(V/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG
M:'0G/C(L.3<Y+#@R-CPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=2
M3U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ
M(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^26YC
M;VUE("AL;W-S*2!F<F]M(&]P97)A=&EO;G,@8F5F;W)E#0IT87AE<SPO=&0^
M#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I
M9VAT)SXS-RPP,C,L.38S/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H="<^-RPV.#@L,3DP/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^,3`L
M,C,W+#4X-CPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^
M)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@<FEG:'0G/C4T+#DT.2PW,SD\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXH,3`L-C4Q+#(X
M,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^*3PO=&0^
M#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
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M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C$L-#8V+#0R,3PO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G
M/C(L-38R+#0X.3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@<FEG:'0G/C$S+#0P,BPX-S$\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXM/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H
M="<^,3,L-#`R+#@W,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=2
M3U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ
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M(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXV+#(R,2PW-CD\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXW+#8W
M-2PP.3<\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C
M>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(')I9VAT)SXT,2PU-#8L.#8X/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^*#$P+#8U,2PR.#$\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/BD\+W1D/@T*
M/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H
M="<^,S`L.#DU+#4X-SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=2
M3U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/E1O=&%L(&%S<V5T<SPO
M=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(')I9VAT)SXQ-C`L-#(Q+#DR,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C4Q+#$P.2PY-38\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\
M=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT
M)SXT-BPP,3`L,C<V/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H="<^,C4W+#4T,BPQ-3,\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXW.#4L
M-30V/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
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M9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(')I9VAT)SXS+#0Y-BPS,3`\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXR+#8Q-BPX
M.3(\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P
M.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(')I9VAT)SXQ-RPV.3<L-#,Y/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!
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M=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(')I9VAT)SXS-"PW.3(L-3`R/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!R:6=H="<^,C`L,S,Q+#,P.#PO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G
M/C$L,3DW+#,S,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@<FEG:'0G/C4V+#,R,2PQ-#$\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXM/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H
M="<^-38L,S(Q+#$T,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=2
M3U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ
M(&)O='1O;2<^#0H\=&0^5W)I=&4M;V9F("\@26UP86ER;65N=#PO=&0^#0H\
M=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT
M)SXS+#<T.2PT,S4\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(')I9VAT)SXR+#`Q-2PU,S,\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXQ+#@P-2PU
M.3@\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P
M.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(')I9VAT)SXW+#4W,"PU-C8\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXM/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^-RPU-S`L
M-38V/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/"]T<CX-"CPO=&%B;&4^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'1A
M8FQE('-T>6QE/3-$)U=)1%1(.B`Q,#`E.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL<W!A8VEN9STS1#`@8V5L;'!A
M9&1I;F<],T0P/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T
M;VTG/@T*/'1D('-T>6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD)SY996%R($5N
M9&5D/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^)B-X03`[/"]T9#X-"CQT9#XF
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M14E'2%0Z(&)O;&0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/B8C
M>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^
M)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL
M93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"="
M3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[($9/3E0M5T5)1TA4.B!B
M;VQD)SX-"D1E8V5M8F5R(#,Q+"`R,#$P/"]T9#X-"CQT9"!S='EL93TS1"=0
M041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
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M/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4
M.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]4
M5$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$58
M5"U!3$E'3CH@8V5N=&5R.R!&3TY4+5=%24=(5#H@8F]L9"<@8V]L<W!A;CTS
M1#(^4')O9'5C=',\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-
M.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L
M86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4+5=%24=(
M5#H@8F]L9"<@8V]L<W!A;CTS1#(^5&]T86P\+W1D/@T*/'1D('-T>6QE/3-$
M)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/
M3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/
M4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N
M=&5R.R!&3TY4+5=%24=(5#H@8F]L9"<@8V]L<W!A;CTS1#(^0V]R<&]R871E
M/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4
M+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$
M24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L
M:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].5"U714E'2%0Z(&)O;&0G(&-O
M;'-P86X],T0R/E1O=&%L/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/
M5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CPO
M='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR
M-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4]
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M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)#PO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Y)2<^
M,30L.3<Q+#<W-#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(
M.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(')I9VAT.R!724142#H@.24G/C0T+#$U,2PT,S<\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXD/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@5TE$5$@Z(#DE)SXQ
M-3@L,S,U+#`R,SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(
M.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(')I9VAT.R!724142#H@.24G/BT\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXD/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H=#L@5TE$5$@Z(#DE)SXQ-3@L,S,U+#`R
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M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H="<^,RPY-S(L.3DW/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG
M:'0G/BT\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C
M>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(')I9VAT)SXS+#DW,BPY.3<\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXM/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^,RPY
M-S(L.3DW/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF
M(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/
M3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M
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M/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(')I9VAT)SXQ,2PS-C`L-#<V/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^,3(L,C$X+#8Q
M,SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@<FEG:'0G/C<R+#`U,RPW,#`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT
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M+#`Y-BPR,S,\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G
M/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M
M0T],3U(Z('=H:71E.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SY);F-O;64@=&%X97,\+W1D/@T*
M/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H
M="<^,3(L.30S+#0U,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@<FEG:'0G/C(L,#0P+#(X-SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C,L,#<Q
M+#$Q,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@<FEG:'0G/C$X+#`U-"PX-#D\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXM/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^,3@L
M,#4T+#@T.3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^
M)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#
M3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O
M;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^26YC;VUE("AL
M;W-S*2!F<F]M(&]P97)A=&EO;G,@869T97(-"G1A>&5S/"]T9#X-"CQT9#XF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C,U
M+#4S,2PQ-C`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G
M/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(')I9VAT)SXY+#,R,"PQ.#D\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXY+#$T-RPU,#(\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO
M=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(')I9VAT)SXU,RPY.3@L.#4Q/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!R:6=H="<^*#(L.34W+#0V-SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^*3PO=&0^#0H\=&0^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
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M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H="<^,SDL-CDV+#<X,3PO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C,X+#$U
M,RPX-#0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C
M>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(')I9VAT)SXR,#8L,S8T+#,Q,3PO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C,U-BPW,3,\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^
M#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I
M9VAT)SXR,#8L-S(Q+#`R-#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#
M2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)
M1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^
M1&5P<F5C:6%T:6]N(&%N9"!A;6]R=&EZ871I;VX\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^-RPU-S`L
M-C8P/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!R:6=H="<^,2PR.#8L,C4S/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^,BPR-#`L,C,V/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H
M="<^,3$L,#DW+#$T.3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@<FEG:'0G/BT\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-
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M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^
M,3DL-#4X+#DU-3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@<FEG:'0G/C$S+#<Q,BPX-#D\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXW+#0X,RPR
M,S`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P
M.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(')I9VAT)SXT,"PV-34L,#,T/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!
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M1"=&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SXF
M(WA!,#L\+V9O;G0^/&9O;G0@<W1Y;&4],T0G0T],3U(Z(&)L86-K)SXF(WA!
M,#L\+V9O;G0^/"]P/@T*/'1A8FQE('-T>6QE/3-$)U=)1%1(.B`Q,#`E.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL
M<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<],T0P/@T*/'1R('-T>6QE/3-$)U9%
M4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)T9/3E0M5T5)
M1TA4.B!B;VQD)SY996%R($5N9&5D/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^
M)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T9/
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M=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT
M97(G(&-O;'-P86X],T0R/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-
M"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E
M;G1E<B<@8V]L<W!A;CTS1#(^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D
M/@T*/"]T<CX-"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M
M)SX-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L
M:60[($9/3E0M5T5)1TA4.B!B;VQD)SX-"D1E8V5M8F5R(#,Q+"`R,#`Y/"]T
M9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%
M24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M
M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@
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M.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L
M86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4+5=%24=(
M5#H@8F]L9"<@8V]L<W!A;CTS1#(^4')O9'5C=',\+W1D/@T*/'1D('-T>6QE
M/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[
M($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@
M8V5N=&5R.R!&3TY4+5=%24=(5#H@8F]L9"<@8V]L<W!A;CTS1#(^5&]T86P\
M+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M
M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)
M3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI
M9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4+5=%24=(5#H@8F]L9"<@8V]L
M<W!A;CTS1#(^0V]R<&]R871E/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'
M+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(
M5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]4
M5$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].
M5"U714E'2%0Z(&)O;&0G(&-O;'-P86X],T0R/E1O=&%L/"]T9#X-"CQT9"!S
M='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L
M9"<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.
M1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O
M='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z
M(#(X)2<^3F5T(')E=F5N=64@*&5X=&5R;F%L#0IC=7-T;VUE<G,I/"]T9#X-
M"CQT9"!S='EL93TS1"=724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXD/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@5TE$5$@Z(#DE)SXV,RPV
M-SDL.#@X/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!7
M24142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5TE$5$@Z(#$E
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[
M(%=)1%1(.B`Q)2<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M<FEG:'0[(%=)1%1(.B`Y)2<^,3`L-C4P+#8Y.#PO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B0\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@.24G/C,U+#DT
M-BPS,C(\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)
M1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=724142#H@,24G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@
M5TE$5$@Z(#$E)SXD/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R
M:6=H=#L@5TE$5$@Z(#DE)SXQ,3`L,C<V+#DP.#PO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B0\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@.24G/BT\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=724142#H@,24G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E
M)SXD/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@5TE$
M5$@Z(#DE)SXQ,3`L,C<V+#DP.#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT
M<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!W:&ET93L@5D525$E#04PM
M04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^3F5T(')E=F5N=64@*&EN=&5R<V5G;65N="D\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^,2PP-S,L
M-3`R/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!R:6=H="<^+3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@<FEG:'0G/BT\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXQ+#`W,RPU,#(\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^
M#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I
M9VAT)SXM/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF
M(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!R:6=H="<^,2PP-S,L-3`R/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL
M93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)4
M24-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SY);F-O;64@*&QO<W,I(&9R;VT@;W!E<F%T:6]N<R!B969O<F4-
M"G1A>&5S/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@<FEG:'0G/C(U+#`Y."PP,S4\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXW+#,R."PP-#4\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO
M=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(')I9VAT)SXQ,BPU,S`L-#$W/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!R:6=H="<^-#0L.34V+#0Y-SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G
M/B@S+#(T-"PT,3$\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0G/BD\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!R:6=H="<^-#$L-S$R+#`X-CPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y
M;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=.
M.B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/DEN
M8V]M92!T87AE<SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(')I9VAT)SXV+#@Y."PQ,S`\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXQ+#$U,RPW
M,S@\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P
M.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(')I9VAT)SXS+#$S,BPU,S`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXQ,2PQ.#0L,SDX/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H
M="<^+3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
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M(&QE9G0G/DEN8V]M92`H;&]S<RD@9G)O;2!O<&5R871I;VYS(&%F=&5R#0IT
M87AE<SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(')I9VAT)SXQ."PQ.3DL.3`U/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^-BPQ-S0L,S`W/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D
M/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R
M:6=H="<^.2PS.3<L.#@W/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H="<^,S,L-S<R+#`Y.3PO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/B@S
M+#(T-"PT,3$\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G
M/BD\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!R:6=H="<^,S`L-3(W+#8X.#PO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4]
M,T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B
M;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/E1O=&%L
M(&%S<V5T<SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(')I9VAT)SXY-BPR,38L.#,R/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^,3DL-#`T+#8R
M-CPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@<FEG:'0G/C(X+#(W-"PQ,3@\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXQ-#,L.#DU+#4W-CPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG
M:'0G/C(L-3(W+#4Y,CPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@<FEG:'0G/C$T-BPT,C,L,38X/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/"]T<CX-
M"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR
M,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SY$97!R96-I871I;VX@86YD(&%M;W)T:7IA=&EO
M;CPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(')I9VAT)SXU+#$X,BPR-#4\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXX-C8L-S4P/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^
M,2PQ-3`L-C8S/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!R:6=H="<^-RPQ.3DL-C4X/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G
M/C<L,3DY+#8U.#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.
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M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXU+#$V-RPY-#D\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^
M#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I
M9VAT)SXX+#@S."PT-#`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXT-"PY,#4L,C0U/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
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M4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS
M1"=415A4+4%,24=..B!C96YT97([($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\
M+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ
M(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
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M<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\=&%B
M;&4@<W1Y;&4],T0G5TE$5$@Z(#$P,"4[($9/3E0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68G(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D
M9&EN9STS1#`^#0H\='(@<W1Y;&4],T0G5D525$E#04PM04Q)1TXZ(&)O='1O
M;2<^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/
M5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"
M3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C
M;VQS<&%N/3-$,3`@;F]W<F%P/3-$;F]W<F%P/EEE87)S(&5N9&5D($1E8V5M
M8F5R(#,Q+#PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P
M="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G5D525$E#04PM
M04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@
M8FQA8VL@,7!T('-O;&ED)SY296-O;F-I;&EA=&EO;G,\+W1D/@T*/'1D('-T
M>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4
M+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/C(P,3$\+W1D/@T*/'1D('-T
M>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%
M6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^,C`Q,#PO=&0^#0H\=&0@
M<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@
M5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,CXR,#`Y/"]T9#X-"CQT
M9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*
M/"]T<CX-"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M)SX-
M"CQT9#XF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,CXF(WA!,#L\+W1D
M/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/B8C>$$P.SPO
M=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^)B-X03`[
M/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="
M04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!
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M1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T.R!724142#H@,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(')I9VAT.R!724142#H@,3`E)SXW,BPP-3,L-S`P/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)#PO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Q
M,"4G/C0T+#DU-BPT.3<\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y
M;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=.
M.B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!
M1$1)3D<M0D]45$]-.B`Q<'0G/D-O<G!O<F%T90T*8V]S=',\+W1D/@T*/'1D
M('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!4
M15A4+4%,24=..B!L969T)SX-"B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!R
M:6=H="<^#0HH,3`L-C4Q+#(X,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^*3PO=&0^#0H\=&0@
M<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%
M6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="
M3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I
M9VAT)SX-"B@R+#DU-RPT-C<\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/BD\+W1D/@T*/'1D('-T
M>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@
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M='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T
M*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F="<^26YC;VUE(&9R;VT@;W!E<F%T:6]N<SPO=&0^#0H\
M=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT
M)SXT-"PR.3@L-#4X/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H="<^-CDL,#DV+#(S,SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!
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M.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/
M33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!L969T)SX-"B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T
M('-O;&ED.R!415A4+4%,24=..B!R:6=H="<^#0HU-RPQ-S,\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q
M<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ
M(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-
M.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C(T,2PY,S8\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q
M<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ
M(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-
M.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C8S+#<R-SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P
M="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.
M1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O
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M1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)
M1TXZ(')I9VAT)SX-"C0T+#,U-2PV,S$\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,BXU<'0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@
M,BXU<'0@9&]U8FQE.R!415A4+4%,24=..B!L969T)SX-"B0\+W1D/@T*/'1D
M('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#(N-7!T(&1O=6)L93L@
M5$585"U!3$E'3CH@<FEG:'0G/@T*-CDL,S,X+#$V.3PO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#(N-7!T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`R
M+C5P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-
M.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)#PO
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M4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS
M1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*5&AE(&9O
M;&QO=VEN9R!T86)L92!S:&]W<R!T:&4@;6%J;W(@8W5S=&]M97(H<RD@*#$P
M)2!O<B!M;W)E*2!F;W(-"G1H92!Y96%R(&5N9&5D($1E8V5M8F5R)B-X03`[
M,S$L(#(P,3$N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQT86)L92!S='EL93TS
M1"=724142#H@,3`P)3L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I
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M<CL@1D].5"U714E'2%0Z(&)O;&0G(&-O;'-P86X],T0R/@T*)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T
M9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&-E;G1E<B<@8V]L<W!A;CTS1#(^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\
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M;G1E<CL@1D].5"U714E'2%0Z(&)O;&0G(&-O;'-P86X],T0R/@T*)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[
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M1"=&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!C96YT97([($9/3E0M5T5)1TA4.B!B;VQD)R!C;VQS
M<&%N/3-$,CX-"E!R;V1U8W1S/"]T9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%
M24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%
M24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
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M)SX-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L
M:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].5"U714E'2%0Z(&)O;&0G/@T*
M3G5M8F5R/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T
M.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ
M(&-E;G1E<CL@1D].5"U714E'2%0Z(&)O;&0G(&-O;'-P86X],T0R/D-U<W1O
M;65R/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&
M3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0
M041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].5"U714E'2%0Z(&)O;&0G
M(&-O;'-P86X],T0R/B@P,#`F(W@R,#$Y.W,I/"]T9#X-"CQT9"!S='EL93TS
M1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&
M3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="
M3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E
M;G1E<CL@1D].5"U714E'2%0Z(&)O;&0G(&-O;'-P86X],T0R/B@P,#`F(W@R
M,#$Y.W,I/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T
M.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q
M<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].5"U714E'2%0Z(&)O
M;&0G(&-O;'-P86X],T0R/B@P,#`F(W@R,#$Y.W,I/"]T9#X-"CQT9"!S='EL
M93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T
M.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ
M(&-E;G1E<CL@1D].5"U714E'2%0Z(&)O;&0G(&-O;'-P86X],T0R/B@P,#`F
M(W@R,#$Y.W,I/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@
M,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C
M:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].5"U714E'2%0Z
M(&)O;&0G(&-O;'-P86X],T0R/E)E=F5N=64F(WA!,#LH)2D\+W1D/@T*/'1D
M('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B
M;VQD)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/
M54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'3CH@
M8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97([(%!!
M1$1)3D<M0D]45$]-.B`Q<'0[(%9%4E1)0T%,+4%,24=..B!T;W`G/@T*,3PO
M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'
M+4)/5%1/33H@,7!T)R!C;VQS<&%N/3-$,CX-"E-H86YD;VYG($UO<G5I($-H
M96UI8V%L($-O;7!A;GD@3&EM:71E9#PO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T
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M(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%
M6%0M04Q)1TXZ(&QE9G0G/B0\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"
M3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@<FEG:'0G/@T*
M,RPP,C`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!
M1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ
M(&QE9G0G/B0\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L
M86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@<FEG:'0G/@T*,BPV-C,\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]4
M5$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"
M3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M
M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/B0\
M+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S
M;VQI9#L@5$585"U!3$E'3CH@<FEG:'0G/@T*,3DL-30W/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q
M<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@
M8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!L969T)SX-"B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O
M;&ED.R!415A4+4%,24=..B!R:6=H="<^#0HQ,2XY/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T)SXE
M/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@
M=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&-E;G1E<CL@5TE$5$@Z(#DE.R!&3TY4+5=%24=(5#H@
M8F]L9"<^#0I43U1!3#PO=&0^#0H\=&0@<W1Y;&4],T0G5TE$5$@Z(#$E)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)
M1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!R:6=H=#L@5TE$5$@Z(#(S)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)#PO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/C$S+#@V
M-#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z
M(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!72414
M2#H@,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT
M.R!724142#H@,3`E)SXS+#`R,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T.R!724142#H@,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@,3`E)SXR+#8V,SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B0\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@
M,3`E)SXQ.2PU-#<\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=72414
M2#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(')I9VAT.R!724142#H@,3`E)SXQ,2XY/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B4\+W1D/@T*
M/"]T<CX-"CPO=&%B;&4^#0H\<"!S='EL93TS1"=-05)'24XZ(#!P="`P<'@[
M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*
M)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@
M34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF)SX-"E1H92!F;VQL;W=I;F<@=&%B;&4@<VAO=W,@=&AE
M(&UA:F]R(&-U<W1O;65R*',I("@Q,"4@;W(@;6]R92D@9F]R#0IT:&4@>65A
M<B!E;F1E9"!$96-E;6)E<B`S,2P@,C`Q,"X\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P
M/@T*/'1A8FQE('-T>6QE/3-$)U=)1%1(.B`Q,#`E.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL<W!A8VEN9STS1#`@
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M+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/B8C>$$P
M.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%
M24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!C96YT97([($9/3E0M5T5)1TA4.B!B;VQD)R!C;VQS<&%N/3-$,CX-
M"D-H96UI8V%L/"]T9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L
M9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L
M9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT
M97([($9/3E0M5T5)1TA4.B!B;VQD)R!C;VQS<&%N/3-$,CX-"E1O=&%L/"]T
M9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97([($9/3E0M5T5)
M1TA4.B!B;VQD)R!C;VQS<&%N/3-$,B!N;W=R87`],T1N;W=R87`^4&5R8V5N
M=&%G92!O9CPO=&0^#0H\=&0@<W1Y;&4],T0G1D].5"U714E'2%0Z(&)O;&0G
M/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,+4%,
M24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E
M<CL@1D].5"U714E'2%0Z(&)O;&0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G1D].5"U714E'2%0Z(&)O;&0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4+5=%24=(5#H@8F]L9"<@8V]L
M<W!A;CTS1#(^#0HF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T9/3E0M5T5)
M1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T9/3E0M5T5)
M1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&-E;G1E<CL@1D].5"U714E'2%0Z(&)O;&0G(&-O;'-P86X],T0R/@T*
M0G)O;6EN93PO=&0^#0H\=&0@<W1Y;&4],T0G1D].5"U714E'2%0Z(&)O;&0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G1D].5"U714E'2%0Z(&)O;&0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@8V5N=&5R
M.R!&3TY4+5=%24=(5#H@8F]L9"<@8V]L<W!A;CTS1#(^0W)U9&4-"E-A;'0\
M+W1D/@T*/'1D('-T>6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].5"U7
M14E'2%0Z(&)O;&0G(&-O;'-P86X],T0R/@T*4')O9'5C=',\+W1D/@T*/'1D
M('-T>6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)T9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].5"U714E'2%0Z(&)O
M;&0G(&-O;'-P86X],T0R/@T*4F5V96YU93PO=&0^#0H\=&0@<W1Y;&4],T0G
M1D].5"U714E'2%0Z(&)O;&0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M1D].5"U714E'2%0Z(&)O;&0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4+5=%24=(5#H@8F]L9"<@8V]L<W!A
M;CTS1#(^#0I4;W1A;#PO=&0^#0H\=&0@<W1Y;&4],T0G1D].5"U714E'2%0Z
M(&)O;&0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)U9%4E1)
M0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U14
M3TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4
M+5=%24=(5#H@8F]L9"<^#0I.=6UB97(\+W1D/@T*/'1D('-T>6QE/3-$)U!!
M1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S
M;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4+5=%24=(5#H@8F]L9"<@
M8V]L<W!A;CTS1#(^0W5S=&]M97(\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)
M3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)
M1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"
M3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&
M3TY4+5=%24=(5#H@8F]L9"<@8V]L<W!A;CTS1#(^*#`P,"8C>#(P,3D[<RD\
M+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M
M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)
M3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI
M9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4+5=%24=(5#H@8F]L9"<@8V]L
M<W!A;CTS1#(^*#`P,"8C>#(P,3D[<RD\+W1D/@T*/'1D('-T>6QE/3-$)U!!
M1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M
M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%
M4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R
M.R!&3TY4+5=%24=(5#H@8F]L9"<@8V]L<W!A;CTS1#(^*#`P,"8C>#(P,3D[
M<RD\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/
M3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!
M1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S
M;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R.R!&3TY4+5=%24=(5#H@8F]L9"<@
M8V]L<W!A;CTS1#(^*#`P,"8C>#(P,3D[<RD\+W1D/@T*/'1D('-T>6QE/3-$
M)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0[($9/
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M/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U14
M3TTZ(#%P="<@8V]L<W!A;CTS1#(^#0I3:&]U9W5A;F<@0VET>2!2;VYG>75A
M;B!#:&5M:6-A;"!#;VUP86YY($QI;6ET960\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q
M<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/B0\+W1D/@T*/'1D('-T>6QE
M/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'
M3CH@<FEG:'0G/@T*,3,L,3`V/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED
M.R!415A4+4%,24=..B!L969T)SXD/"]T9#X-"CQT9"!S='EL93TS1"="3U)$
M15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT
M)SX-"C,L-C,T/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M.R!0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,
M24=..B!L969T)SXD/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-
M.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"BT\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]4
M5$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"
M3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M
M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/B0\
M+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S
M;VQI9#L@5$585"U!3$E'3CH@<FEG:'0G/@T*,38L-S0P/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q
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M1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!R:6=H=#L@5TE$5$@Z(#(S)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)#PO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/C$S+#$P
M-CPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z
M(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!72414
M2#H@,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT
M.R!724142#H@,3`E)SXS+#8S-#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T.R!724142#H@,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@,3`E)SXM/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)#PO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G
M/C$V+#<T,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@
M5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q
M)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/C$P+C8\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)3PO=&0^#0H\+W1R
M/@T*/"]T86)L93X-"CQP('-T>6QE/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D].
M5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!
M,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*5&AE(&9O;&QO=VEN9R!T86)L92!S:&]W<R!T:&4@;6%J
M;W(@8W5S=&]M97(H<RD@*#$P)2!O<B!M;W)E*2!F;W(-"G1H92!Y96%R(&5N
M9&5D($1E8V5M8F5R)B-X03`[,S$L(#(P,#DN/"]P/@T*/'`@<W1Y;&4],T0G
M5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO
M<#X-"CQT86)L92!S='EL93TS1"=724142#H@,3`P)3L@1D].5#H@,3!P="!4
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M86X],T0R/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%24=(
M5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^)B-X03`[
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M;'-P86X],T0R/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%
M24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%
M24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
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M/"]T9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97([($9/3E0M
M5T5)1TA4.B!B;VQD)R!C;VQS<&%N/3-$,CX-"E!R;V1U8W1S/"]T9#X-"CQT
M9"!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT
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M5$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].
M5"U714E'2%0Z(&)O;&0G/@T*3G5M8F5R/"]T9#X-"CQT9"!S='EL93TS1"=0
M041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].5"U714E'2%0Z(&)O;&0G
M(&-O;'-P86X],T0R/D-U<W1O;65R/"]T9#X-"CQT9"!S='EL93TS1"=0041$
M24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%
M24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M
M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@
M1D].5"U714E'2%0Z(&)O;&0G(&-O;'-P86X],T0R/B@P,#`F(W@R,#$Y.W,I
M/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4
M+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$
M24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L
M:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].5"U714E'2%0Z(&)O;&0G(&-O
M;'-P86X],T0R/B@P,#`F(W@R,#$Y.W,I/"]T9#X-"CQT9"!S='EL93TS1"=0
M041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4
M+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$
M15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E
M<CL@1D].5"U714E'2%0Z(&)O;&0G(&-O;'-P86X],T0R/B@P,#`F(W@R,#$Y
M.W,I/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&
M3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0
M041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<CL@1D].5"U714E'2%0Z(&)O;&0G
M(&-O;'-P86X],T0R/B@P,#`F(W@R,#$Y.W,I/"]T9#X-"CQT9"!S='EL93TS
M1"=0041$24Y'+4)/5%1/33H@,7!T.R!&3TY4+5=%24=(5#H@8F]L9"<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T.R!&
M3TY4+5=%24=(5#H@8F]L9"<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="
M3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E
M;G1E<CL@1D].5"U714E'2%0Z(&)O;&0G(&-O;'-P86X],T0R/E)E=F5N=64F
M(WA!,#LH)2D\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q
M<'0[($9/3E0M5T5)1TA4.B!B;VQD)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT
M<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I
M.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!C96YT97([(%9%4E1)0T%,+4%,24=..B!T;W`G/C$\+W1D/@T*
M/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<@8V]L<W!A;CTS1#(^4VAA;F1O;F<@36]R=6D@0VAE;6EC86P-"D-O;7!A
M;GD@3&EM:71E9#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(')I9VAT)SXY+#4S,SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B0\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXQ+#DT,#PO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\
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M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
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M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0
M041$24Y'+4)/5%1/33H@,7!T)R!C;VQS<&%N/3-$,CX-"E-H;W5G=6%N9R!#
M:71Y(%)O;F=Y=6%N($-H96UI8V%L($-O;7!A;GD@3&EM:71E9#PO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ
M(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/
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M03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K
M(#%P="!S;VQI9#L@5$585"U!3$E'3CH@;&5F="<^)#PO=&0^#0H\=&0@<W1Y
M;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,
M24=..B!R:6=H="<^#0HQ+#DY,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI
M9#L@5$585"U!3$E'3CH@;&5F="<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G0D]2
M1$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!R:6=H
M="<^#0HM/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0
M041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=.
M.B!L969T)SXD/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B
M;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C$Q+#0S.3PO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"
M3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'
M+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%
M4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@;&5F="<^
M#0HF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L
M86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@<FEG:'0G/@T*,3`N-#PO=&0^
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M)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@5TE$5$@Z(#(S)2<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!72414
M2#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5TE$5$@Z(#$E)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)
M1%1(.B`Q)2<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG
M:'0[(%=)1%1(.B`Q,"4G/C$X+#DX,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T.R!724142#H@,24G/B0\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@,3`E)SXS+#DS,3PO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G
M/B0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!72414
M2#H@,3`E)SXM/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5TE$5$@Z
M(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0[(%=)1%1(.B`Q)2<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/C(R+#DQ,CPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G
M/C(P+C@\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)
M1%1(.B`Q)2<^)3PO=&0^#0H\+W1R/@T*/"]T86)L93X-"CPO9&EV/CQS<&%N
M/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\+W1A8FQE/@T*("`\
M+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?-#`U,F,Q,S)?
M.&,S8E\T,&4Y7SAA,S1?8V(W-38Y,&,T8F9F#0I#;VYT96YT+4QO8V%T:6]N
M.B!F:6QE.B\O+T,Z+S0P-3)C,3,R7SAC,V)?-#!E.5\X83,T7V-B-S4V.3!C
M-&)F9B]7;W)K<VAE971S+U-H965T,C,N:'1M;`T*0V]N=&5N="U4<F%N<V9E
M<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N=&5N="U4>7!E.B!T
M97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE
M860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT
M96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C<FEP="!T>7!E
M/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@1&\@3F]T(%)E
M;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^#0H@(#QB;V1Y
M/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS1$E$,$5!1#X-"B`@
M("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@8V]L<W!A;CTS1#$@
M<F]W<W!A;CTS1#(^/'-T<F]N9SY-04I/4B!355!03$E%4E,\8G(^/"]S=')O
M;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^
M,3(@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(^
M#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L(#(P,3$\8G(^/"]T
M:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@
M("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DU!2D]2(%-54%!,2452
M4SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/&1I=CX-"CQP('-T
M>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I9GDG/@T*3D]4
M12`Q-R`F(W@R,#$S.R!-04I/4B!355!03$E%4E,\+W`^#0H\<"!S='EL93TS
M1"=F;VYT.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF.R!M
M87)G:6XZ(#!P="`P.R!T97AT+6%L:6=N.B!J=7-T:69Y)SX-"B8C>$$P.SPO
M<#X-"CQP('-T>6QE/3-$)V9O;G0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68[(&UA<F=I;CH@,'!T(#`[('1E>'0M86QI9VXZ(&IU<W1I
M9GDG/@T*1'5R:6YG('1H92!Y96%R(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$Q
M+"!T:&4@0V]M<&%N>2!P=7)C:&%S960-"C@P+C<E(&]F(&ET<R!R87<@;6%T
M97)I86QS(&9R;VT@:71S('1O<"!F:79E('-U<'!L:65R<RX@070@1&5C96UB
M97(-"C,Q+"`R,#$Q+"!A;6]U;G1S(&1U92!T;R!T:&]S92!S=7!P;&EE<G,@
M:6YC;'5D960@:6X@86-C;W5N=',-"G!A>6%B;&4@=V5R92`D,BPX.#,L,S@T
M+B8C>$$P.R8C>$$P.T1U<FEN9R!T:&4@>65A<B!E;F1E9"!$96-E;6)E<@T*
M,S$L(#(P,3`L('1H92!#;VUP86YY('!U<F-H87-E9"`X.2XQ)2!O9B!I=',@
M<F%W(&UA=&5R:6%L<R!F<F]M(&ET<PT*=&]P(&9I=F4@<W5P<&QI97)S+B8C
M>$$P.R8C>$$P.T%T($1E8V5M8F5R(#,Q+"`R,#$P+"!A;6]U;G1S(&1U92!T
M;PT*=&AO<V4@<W5P<&QI97)S(&EN8VQU9&5D(&EN(&%C8V]U;G1S('!A>6%B
M;&4@=V5R90T*)#4L,3(V+#8Q.2XF(WA!,#LF(WA!,#M$=7)I;F<@=&AE('EE
M87(@96YD960@1&5C96UB97(@,S$L(#(P,#DL('1H90T*0V]M<&%N>2!P=7)C
M:&%S960@-#DN-24@;V8@:71S(')A=R!M871E<FEA;',@9G)O;2!I=',@=&]P
M(&9I=F4-"G-U<'!L:65R<RXF(WA!,#LF(WA!,#M!="!$96-E;6)E<B`S,2P@
M,C`P.2P@86UO=6YT<R!D=64@=&\@=&AO<V4-"G-U<'!L:65R<R!I;F-L=61E
M9"!I;B!A8V-O=6YT<R!P87EA8FQE('=E<F4@)#0L,#$V+#@Y,"X@5&AI<PT*
M8V]N8V5N=')A=&EO;B!M86ME<R!T:&4@0V]M<&%N>2!V=6QN97)A8FQE('1O
M(&$@;F5A<BUT97)M('-E=F5R90T*:6UP86-T+"!S:&]U;&0@=&AE(')E;&%T
M:6]N<VAI<',@8F4@=&5R;6EN871E9"X\+W`^#0H\+V1I=CX\<W!A;CX\+W-P
M86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y
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M("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@8V]N=&5N=#TS
M1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@='EP93TS1'1E
M>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO="!296UO=F4@
M5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\8F]D>3X-"B`@
M("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%040^#0H@("`@("`\
M='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P86X],T0Q(')O=W-P
M86X],T0R/CQS=')O;F<^0U535$]-15(@0T].0T5.5%)!5$E/3CQB<CX\+W-T
M<F]N9SX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:"!C;VQS<&%N/3-$
M,3XQ,B!-;VYT:',@16YD960\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT
M<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`Q,3QB<CX\
M+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E/@T*("`@
M("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^0U535$]-15(@0T].
M0T5.5%)!5$E/3CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/&1I
M=CX-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@
M,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9B<^#0I.3U1%(#$X("8C>#(P,3,[($-54U1/3452($-/3D-%3E12051)
M3TX\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
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M<RXF(WA!,#LF(WA!,#M!="!$96-E;6)E<B`S,2P@,C`Q,2P@86UO=6YT(&1U
M92!F<F]M('1H97-E#0IC=7-T;VUE<G,@=V%S("0Y+#DS,RPY.34N)B-X03`[
M1'5R:6YG('1H92!Y96%R(&5N9&5D($1E8V5M8F5R(#,Q+`T*,C`Q,"P@=&AE
M($-O;7!A;GD@<V]L9"`T,2XW)2!O9B!I=',@<')O9'5C=',@=&\@:71S('1O
M<"!F:79E#0IC=7-T;VUE<G,N($%T($1E8V5M8F5R(#,Q+"`R,#$P+"!A;6]U
M;G0@9'5E(&9R;VT@=&AE<V4@8W5S=&]M97)S#0IW97)E("0Q,"PR,C8L.#$R
M+B!$=7)I;F<@=&AE('EE87(@96YD960@1&5C96UB97(@,S$L(#(P,#DL('1H
M90T*0V]M<&%N>2!S;VQD(#0P+C$E(&]F(&ET<R!P<F]D=6-T<R!T;R!I=',@
M=&]P(&9I=F4@8W5S=&]M97)S+B!!=`T*1&5C96UB97(@,S$L(#(P,#DL(&%M
M;W5N="!D=64@9G)O;2!T:&5S92!C=7-T;VUE<G,@=V5R92`D-2PT-#DL-C,X
M+@T*5&AI<R!C;VYC96YT<F%T:6]N(&UA:V5S('1H92!#;VUP86YY('9U;&YE
M<F%B;&4@=&\@82!N96%R+71E<FT-"G-E=F5R92!I;7!A8W0L('-H;W5L9"!T
M:&4@<F5L871I;VYS:&EP<R!B92!T97)M:6YA=&5D+CPO<#X-"@T*#0H\+V1I
M=CX\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L
M93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]7TYE>'1087)T7S0P
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M#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT+51Y
M<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I
M<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O
M($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*
M("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%
M040^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P
M86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^1D%)4B!604Q512!/1B!&24Y!
M3D-)04P@24Y35%)5345.5%,\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@
M/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T
M:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1H/D1E8RX@,S$L(#(P,3$\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/D9!25(@5D%,544@3T8@1DE.04Y#24%,($E.4U1254U%
M3E13/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#X\9&EV/@T*/'`@
M<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
M"DY/5$4@,3D@)B-X,C`Q,SL@1D%)4B!604Q512!/1B!&24Y!3D-)04P@24Y3
M5%)5345.5%,\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y
M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T
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M9"!L:6%B:6QI=&EE<R!A<R!O9B!$96-E;6)E<B`S,2P@,C`Q,2!A;F0-"C(P
M,3`N/"]P/@T*#0H-"CPO9&EV/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@
M/"]T<CX-"B`@("`\+W1A8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM
M+2TM+3U?3F5X=%!A<G1?-#`U,F,Q,S)?.&,S8E\T,&4Y7SAA,S1?8V(W-38Y
M,&,T8F9F#0I#;VYT96YT+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S0P-3)C,3,R
M7SAC,V)?-#!E.5\X83,T7V-B-S4V.3!C-&)F9B]7;W)K<VAE971S+U-H965T
M,C8N:'1M;`T*0V]N=&5N="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R
M:6YT86)L90T*0V]N=&5N="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S
M+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE
M<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA
M<G-E=#UU=&8M."<^/'-C<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R
M8STS1%-H;W<N:G,^+RH@1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\
M+W-C<FEP=#X\+VAE860^#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS
M1')E<&]R="!I9#TS1$E$,$5!1#X-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H
M(&-L87-S/3-$=&P@8V]L<W!A;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SY2
M15-%05)#2"!!3D0@1$5614Q/4$U%3E0@15A014Y315,\8G(^/"]S=')O;F<^
M/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^,3(@
M36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(^#0H@
M("`@("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L(#(P,3$\8G(^/"]T:#X-
M"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@
M/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/E)%4T5!4D-(($%.1"!$159%
M3$]0345.5"!%6%!%3E-%4SPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E
M>'0^/&1I=CX-"CQP('-T>6QE/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D].5#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^3D]412`R,`T*
M)B-X,C`Q,SM215-%05)#2"!!3D0@1$5614Q/4$U%3E0@15A014Y315,\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"D]N(%-E<'1E;6)E<B`V+"`R,#`W+"!3
M64-)(&%N9"!%87-T($-H:6YA(%5N:79E<G-I='D@;V8@4V-I96YC92!A;F0-
M"E1E8VAN;VQO9WD@9F]R;6%L;'D@;W!E;F5D(&$@0V\M3W`@4F5S96%R8V@@
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M86YY('=I;&P@<')O=FED92`D-3`P+#`P,"!A;FYU86QL>2!U;G1I;"!*=6YE
M#0HR,#$R('1O($5A<W0@0VAI;F$@56YI=F5R<VET>2!O9B!38VEE;F-E(&%N
M9"!496-H;F]L;V=Y(&9O<@T*<F5S96%R8V@N($]N($IU;F4@-RP@,C`Q,2P@
M=&AE($-O;7!A;GD@86YD($5A<W0@0VAI;F$@56YI=F5R<VET>2!O9@T*4V-I
M96YC92!A;F0@5&5C:&YO;&]G>2!M=71U86QL>2!A9W)E960@=&\@=&5R;6EN
M871E('1H92!#;RUO<`T*4F5S96%R8V@@06=R965M96YT(&1U92!T;R!T:&4@
M<W5C8V5S<V9U;"!C;VUP;&5T:6]N(&]F('1H90T*8V]O<&5R871I=F4@<F5S
M96%R8V@@86YD(&1E=F5L;W!M96YT('1A<VMS(')E;&%T960@=&\@=&AE#0ID
M979E;&]P;65N="!O9B!B<F]M:6YE+7)E;&%T960@8VAE;6EC86P@<')O9'5C
M=',@9F]R('1H90T*0V]M<&%N>2X\+W`^#0H\<"!S='EL93TS1"=415A4+4%,
M24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM
M97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@
M<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X
M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-
M"E-I;F-E('1H92!S96-O;F0@<75A<G1E<B!O9B`R,#$P+"!364-)(&-O;F1U
M8W1E9"!R97-E87)C:"!F;W(@=&AE#0IN97<@<')O9'5C=&EO;B!L:6YE(&]F
M('=A<W1E=V%T97(@=')E871M96YT(&%D9&ET:79E<RP@=&AE('!U<G!O<V4-
M"F]F('=H:6-H(&ES(&9O<B!T:&4@=&5S=&EN9R!O9B!T:&4@;6%N=69A8W1U
M<FEN9R!R;W5T:6YE(&%N9`T*<V%M<&QE<RX@5&AE(&YE=R!P<F]D=6-T:6]N
M(&QI;F4@=V%S('-T87)T960@;W!E<F%T:6]N(&%N9"!N;W)M86P-"G!R;V1U
M8W1I;VX@:6X@07!R:6P@,C`Q,2X@2&]W979E<BP@=&AE($-O;7!A;GD@<W=I
M=&-H960@=&AE#0IA9F]R97-A:60@<')O9'5C=&EO;B!L:6YE('1O('1H92!P
M<F]D=6-T:6]N(&]F('!H87)M86-E=71I8V%L(&%N9`T*86=R:6-U;'1U<F%L
M(&-H96UI8V%L(&EN=&5R;65D:6%T97,@:6X@;6ED+4IU;F4@,C`Q,2!A<R!T
M:&4@0V]M<&%N>0T*97AP97)I96YC960@<V]M92!T96-H;F]L;V=I8V%L(&QI
M;6ET871I;VYS(&]N(&5X=')A8W1I;VX@<'5R:71Y+`T*=VAI8V@@;&5A9"!T
M;R!A(&QO=V5R('1H86X@97AP96-T960@9W)O<W,@;6%R9VEN(&9O<B!W87-T
M97=A=&5R#0IT<F5A=&UE;G0@8VAE;6EC86P@861D:71I=F5S+B!4:&4@<F5S
M96%R8V@@86YD(&1E=F5L;W!M96YT(&5X<&5N<V4-"FEN8W5R<F5D(&9O<B!T
M:&4@;F5W('!R;V1U8W1I;VX@;&EN92!O9B!W87-T97=A=&5R('1R96%T;65N
M=`T*861D:71I=F5S(&9R;VT@;W5T<VED92!P87)T:65S(&%N9"!T:&4@8V]N
M<W5M<'1I;VX@;V8@8G)O;6EN90T*<')O9'5C960@8GD@=&AE($-O;7!A;GD@
M9'5R:6YG('1H92!Y96%R(&5N9&5D($1E8V5M8F5R(#,Q+"`R,#$Q#0IW97)E
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M=7)I;F<@=&AE('EE87(-"F5N9&5D($1E8V5M8F5R(#,Q+"`R,#$P('=E<F4@
M)#@T-RPY,3D@86YD("0X-#@L.3DP+`T*<F5S<&5C=&EV96QY+CPO<#X-"CQP
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P
M>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^
M#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y
M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
M+"!4:6UE<RP@4V5R:68G/@T*5&AE('1O=&%L(')E<V5A<F-H(&%N9"!D979E
M;&]P;65N="!E>'!E;G-E(')E8V]G;FEZ960@:6X@=&AE(&EN8V]M90T*<W1A
M=&5M96YT<R!D=7)I;F<@=&AE('EE87)S(&5N9&5D($1E8V5M8F5R(#,Q+"`R
M,#$Q+"`R,#$P(&%N9"`R,#`Y#0IW97)E("0S.3@L.#0R+"`D,BPR,#`L,CDQ
M(&%N9"`D-3`P+#0P-BP@<F5S<&5C=&EV96QY+CPO<#X-"@T*#0H\+V1I=CX\
M<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T86)L93X-
M"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]7TYE>'1087)T7S0P-3)C
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M(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT+51Y<&4@
M8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS8W)I<'0@
M='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J($1O($YO
M="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D/@T*("`\
M8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)1#!%040^
M#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O;'-P86X]
M,T0Q(')O=W-P86X],T0R/CQS=')O;F<^4D5615)312!35$]#2R!34$Q)5#QB
M<CX\+W-T<F]N9SX\+W1H/@T*("`@("`@("`\=&@@8VQA<W,],T1T:"!C;VQS
M<&%N/3-$,3XQ,B!-;VYT:',@16YD960\+W1H/@T*("`@("`@/"]T<CX-"B`@
M("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&@^1&5C+B`S,2P@,C`Q
M,3QB<CX\+W1H/@T*("`@("`@/"]T<CX-"B`@("`@(#QT<B!C;&%S<STS1')E
M/@T*("`@("`@("`\=&0@8VQA<W,],T1P;"!V86QI9VX],T1T;W`^4D5615)3
M12!35$]#2R!34$Q)5#PO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^
M/&1I=CX-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)
M3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9B<^#0I.3U1%(#(Q("8C>#(P,3,[(%)%5D524T4@4U1/0TL@4U!,
M250\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
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M(&%L;`T*<&5R:6]D<R!P<F5S96YT960N/"]P/@T*/"]D:78^/'-P86X^/"]S
M<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D
M>3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\T,#4R8S$S,E\X8S-B
M7S0P93E?.&$S-%]C8C<U-CDP8S1B9F8-"D-O;G1E;G0M3&]C871I;VXZ(&9I
M;&4Z+R\O0SHO-#`U,F,Q,S)?.&,S8E\T,&4Y7SAA,S1?8V(W-38Y,&,T8F9F
M+U=O<FMS:&5E=',O4VAE970R."YH=&UL#0I#;VYT96YT+51R86YS9F5R+45N
M8V]D:6YG.B!Q=6]T960M<')I;G1A8FQE#0I#;VYT96YT+51Y<&4Z('1E>'0O
M:'1M;#L@8VAA<G-E=#TB=7,M87-C:6DB#0H-"CQH=&UL/@T*("`\:&5A9#X-
M"B`@("`\345402!H='1P+65Q=6EV/3-$0V]N=&5N="U4>7!E(&-O;G1E;G0]
M,T0G=&5X="]H=&UL.R!C:&%R<V5T/75T9BTX)SX\<V-R:7!T('1Y<&4],T1T
M97AT+VIA=F%S8W)I<'0@<W)C/3-$4VAO=RYJ<SXO*B!$;R!.;W0@4F5M;W9E
M(%1H:7,@0V]M;65N="`J+SPO<V-R:7!T/CPO:&5A9#X-"B`@/&)O9'D^#0H@
M("`@/'1A8FQE(&-L87-S/3-$<F5P;W)T(&ED/3-$240P14%$/@T*("`@("`@
M/'1R/@T*("`@("`@("`\=&@@8VQA<W,],T1T;"!C;VQS<&%N/3-$,2!R;W=S
M<&%N/3-$,CX\<W1R;VYG/D-!4$E404P@0T]-34E4345.5"!!3D0@3U!%4D%4
M24Y'($Q%05-%($-/34U)5$U%3E13/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@
M("`@(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q/C$R($UO;G1H<R!%;F1E
M9#PO=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@
M8VQA<W,],T1T:#Y$96,N(#,Q+"`R,#$Q/&)R/CPO=&@^#0H@("`@("`\+W1R
M/@T*("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS
M1'!L('9A;&EG;CTS1'1O<#Y#05!)5$%,($-/34U)5$U%3E0@04Y$($]015)!
M5$E.1R!,14%312!#3TU-251-14Y44SPO=&0^#0H@("`@("`@(#QT9"!C;&%S
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M97)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J
M=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W
M(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*/&9O;G0@<W1Y;&4],T0G1D].5#H@
M,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^07,@;V8-"D1E
M8V5M8F5R(#,Q+"`R,#$Q+"!T:&4\+V9O;G0^(#QF;VYT('-T>6QE/3-$)T9/
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M9GD[(%1%6%0M24Y$14Y4.B`P+C5I;CL@34%21TE..B`P<'0@,'!X.R!&3TY4
M.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P
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M<F]U9V@-"D1E8V5M8F5R(#(P,S`L($1E8V5M8F5R(#(P-#`L($9E8G)U87)Y
M(#(P-3DL($%U9W5S="`R,#4Y(&%N9"!*=6YE#0HR,#8P+"!R97-P96-T:79E
M;'DN(%1H92!#;VUP86YY(&%C8V]U;G1S(&9O<B!T:&4@;&5A<V5S(&%S#0IO
M<&5R871I;F<@;&5A<V5S+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*5&AE
M($-O;7!A;GD@:&%S(&YO('!U<F-H87-E(&-O;6UI=&UE;G0@87,@;V8@1&5C
M96UB97(@,S$L(#(P,3$N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE
M/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=4
M15A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*5&AE(&9O;&QO
M=VEN9R!T86)L92!S971S(&9O<G1H('1H92!#;VUP86YY)B-X,C`Q.3MS(&-O
M;G1R86-T=6%L#0IO8FQI9V%T:6]N<R!A<R!O9B!$96-E;6)E<B`S,2P@,C`Q
M,3H\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'1A8FQE('-T>6QE/3-$)U=)1%1(
M.B`Q,#`E.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF)R!C96QL<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<],T0P/@T*/'1R('-T
M>6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!C96YT97(G(&-O;'-P86X],T0R/D-A<&ET86P@3&5A<V4\+W1D/@T*/'1D
M/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/D]P97)A=&EN9R!,96%S
M93PO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^4'5R
M8VAA<V4\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE
M/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L
M:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^3V)L:6=A=&EO
M;G,\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C
M:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^
M3V)L:6=A=&EO;G,\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-
M.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U14
M3TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]4
M5$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L
M<W!A;CTS1#(^3V)L:6=A=&EO;G,\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)
M3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE
M/3-$)T)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"D[(%9%4E1)
M0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0G/E!A>6%B;&4@=VET:&EN.CPO=&0^#0H\=&0^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\
M=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G
M/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
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M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G/B0\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@
M,3(E)SXU.3`L,#,W/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
M969T.R!724142#H@,24G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5TE$
M5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0[(%=)1%1(.B`Q)2<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,B4G/BT\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CPO
M='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR
M-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU,1494.B`Y<'0G/G1H92!N
M97AT(#$S('1O(#(T#0IM;VYT:',\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^,CDW+#@Y.#PO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT
M9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G
M/C8T,"PX,S<\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G
M/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
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M1494.B`Y<'0G/G1H92!N97AT(#(U('1O(#,V#0IM;VYT:',\+W1D/@T*/'1D
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^
M,CDW+#@Y.3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^
M)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@<FEG:'0G/C8T-2PQ-S<\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXM/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/"]T<CX-
M"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR
M,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T.R!0041$24Y'+4Q%1E0Z(#EP="<^=&AE(&YE>'0@
M,S<@=&\@-#@-"FUO;G1H<SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXR.3<L.#DX/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^-C0Y
M+#8X,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
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M(#EP="<^=&AE(&YE>'0@-#D@=&\@-C`-"FUO;G1H<SPO=&0^#0H\=&0^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXR.3<L
M.#DY/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!R:6=H="<^-C4T+#,Q-CPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D
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M3D<M0D]45$]-.B`Q<'0[(%!!1$1)3D<M3$5&5#H@.7!T)SYT:&5R96%F=&5R
M/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P
M="!S;VQI9#L@5$585"U!3$E'3CH@;&5F="<^#0HF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$58
M5"U!3$E'3CH@<FEG:'0G/@T*-"PQ-S`L-3@R/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
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M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G
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M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P
M="<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[(%!!
M1$1)3D<M0D]45$]-.B`R+C5P="<^-2PV-C`L,#<U/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,BXU<'0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#(N
M-7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ
M(&)L86-K(#(N-7!T(&1O=6)L93L@5$585"U!3$E'3CH@;&5F="<^#0HD/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D
M;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C(Q+#$X.2PQ-C<\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-
M.B`R+C5P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/
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M1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'
M3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0
M041$24Y'+4)/5%1/33H@,7!T)SY,97-S.B!!;6]U;G0-"G)E<')E<V5N=&EN
M9R!I;G1E<F5S=#PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ
M(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-
M.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B@R+#0S,RPW-S4\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-
M.B`Q<'0G/BD\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q
M<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0
M041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@4$%$
M1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
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M93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M
M04Q)1TXZ(')I9VAT)SX-"C,L,C(V+#,P,#PO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`R+C5P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0
M041$24Y'+4)/5%1/33H@,BXU<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@<FEG:'0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0
M041$24Y'+4)/5%1/33H@,BXU<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H
M=#L@4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P
M="<^)B-X03`[/"]T9#X-"CPO='(^#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G
M5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO
M<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@
M,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!3
M97)I9B<^#0I296YT86P@97AP96YS97,@<F5L871E9"!T;R!O<&5R871I;F<@
M;&5A<V5S(&]F('1H92!#;VUP86YY(&%M;W5N=&5D#0IT;R`D-3@S+#$R,RP@
M)#$P-"PY-#`@86YD("0T,BPQ,#(@=V5R92!C:&%R9V5D('1O('1H92!I;F-O
M;64-"G-T871E;65N=',@9F]R('1H92!Y96%R<R!E;F1E9"!$96-E;6)E<B`S
M,2P@,C`Q,2P@,C`Q,"!A;F0@,C`P.2P-"G)E<W!E8W1I=F5L>2X\+W`^#0H\
M+V1I=CX\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO='(^#0H@("`@/"]T
M86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM+2T]7TYE>'1087)T
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M;6P^#0H@(#QH96%D/@T*("`@(#Q-151!(&AT='`M97%U:78],T1#;VYT96YT
M+51Y<&4@8V]N=&5N=#TS1"=T97AT+VAT;6P[(&-H87)S970]=71F+3@G/CQS
M8W)I<'0@='EP93TS1'1E>'0O:F%V87-C<FEP="!S<F,],T13:&]W+FIS/B\J
M($1O($YO="!296UO=F4@5&AI<R!#;VUM96YT("HO/"]S8W)I<'0^/"]H96%D
M/@T*("`\8F]D>3X-"B`@("`\=&%B;&4@8VQA<W,],T1R97!O<G0@:60],T1)
M1#!%040^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1L(&-O
M;'-P86X],T0Q(')O=W-P86X],T0R/CQS=')O;F<^3$5'04P@4%)/0T5%1$E.
M1U,\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@/'1H(&-L87-S/3-$=&@@
M8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T:#X-"B`@("`@(#PO='(^
M#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S<STS1'1H/D1E8RX@,S$L
M(#(P,3$\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(@8VQA<W,]
M,T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@=F%L:6=N/3-$=&]P/DQ%
M1T%,(%!23T-%141)3D=3/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X
M=#X\9&EV/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%2
M1TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM
M97,L(%-E<FEF)SX-"DY/5$4@,C,@)B-X,C`Q,SL@3$5'04P@4%)/0T5%1$E.
M1U,\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"CQB/DQO8VLM=7`@06=R965M
M96YT/"]B/CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[
M($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL
M(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4
M+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*5&AE($-O;7!A;GD@
M<V5T=&QE9"!L:71I9V%T:6]N(&EN(&-O;FYE8W1I;VX@=VET:"`U+#(U,"PP
M,#`@<VAA<F5S#0IO9B!T:&4@0V]M<&%N>28C>#(P,3D[<R!#;VUM;VX@4W1O
M8VL@*'1H92`F(W@R,#%#.U-H87)E<R8C>#(P,40[*0T*<&QE9&=E9"!A<R!C
M;VQL871E<F%L(&9O<B!C97)T86EN(&QO86YS(&9R;VT@5V%R($-H97-T($-A
M<&ET86P-"DUU;'1I+5-T<F%T96=Y($9U;F0@3$Q#+"!787(@0VAE<W0@0V%P
M:71A;"!087)T;F5R<RP@3$Q#(&%N9"]O<B!A#0I787(@0VAE<W0@<F5L871E
M9"!E;G1I='D@*&-O;&QE8W1I=F5L>2P@)B-X,C`Q0SM787(@0VAE<W0F(W@R
M,#%$.RD@=&\-"E1O<"!+:6YG($=R;W5P($QI;6ET960@*"8C>#(P,4,[5&]P
M($MI;F<F(W@R,#%$.RDL($)I;&QI;VX@1V]L9"!'<F]U<`T*3&EM:71E9"`H
M)B-X,C`Q0SM":6QL:6]N($=O;&0F(W@R,#%$.RDL(&%N9"!4;W!G;V]D($EN
M=&5R;F%T:6]N86P-"DQI;6ET960@*"8C>#(P,4,[5&]P9V]O9"8C>#(P,40[
M*2`H8V]L;&5C=&EV96QY+"!T:&4-"B8C>#(P,4,[2&]L9&5R<R8C>#(P,40[
M*2X\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"DEN(&-O;FYE8W1I;VX@=VET
M:"!T:&4@06UE;F1M96YT($%G<F5E;65N="!D871E9"!*86YU87)Y(#(T+"`R
M,#`Y#0IB>2!A;F0@86UO;F<@=&AE($-O;7!A;GDL(%-#2$,L($-H:6YA($9I
M;F%N8V4L($EN8RXL(%-H96YZ:&5N($AU80T*66EN($=U87)A;G1Y(&%N9"!)
M;G9E<W1M96YT($QI;6ET960@3&EA8FEL:71Y($-O<G!O<F%T:6]N("AT:&4-
M"B8C>#(P,4,[4VAE;GIH96X@2'5A(%EI;B8C>#(P,40[*2!A;F0@=&AE($AO
M;&1E<G,L('1H92!#;VUP86YY#0IE;G1E<F5D(&EN=&\@82!,;V-K+75P($%G
M<F5E;65N="!D871E9"!A<R!O9B!-87D@,3`L(#(P,#D@*'1H90T*)B-X,C`Q
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M96-U=&EV90T*;V9F:6-E<B!A;F0@82!D:7)E8W1O<B`H96%C:"!A("8C>#(P
M,4,[4VAA<F5H;VQD97(F(W@R,#%$.R!A;F0-"F-O;&QE8W1I=F5L>2P@=&AE
M("8C>#(P,4,[4VAA<F5H;VQD97)S)B-X,C`Q1#LI+CPO<#X-"CQP('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].
M5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!
M,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'
M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE
M<RP@4V5R:68G/@T*56YD97(@=&AE($QO8VLM=7`@06=R965M96YT+"!T:&4@
M2&]L9&5R<R!A;F0@4VAA<F5H;VQD97)S(&%G<F5E9`T*=&AA="!T:&5Y(&AA
M=F4@;F]T(&%N9"!W:6QL(&YO="!S96QL(&EN(&$@<'5B;&EC('1R86YS86-T
M:6]N(&]N('1H90T*3W9E<B!T:&4@0V]U;G1E<B!"=6QL971I;B!";V%R9"!O
M<B!O;B!A(&YA=&EO;F%L('-T;V-K(&5X8VAA;F=E+"!A<PT*=&AE(&-A<V4@
M;6%Y(&)E+"!A;GD@<VAA<F5S(&]F('1H92!#;VUP86YY)B-X,C`Q.3MS(&-O
M;6UO;B!S=&]C:PT*=&AA="!T:&4@2&]L9&5R<R!A;F0@4VAA<F5H;VQD97)S
M('!R97-E;G1L>2!O=VX@;W(@;6%Y(&%C<75I<F4@;VX-"F]R(&%F=&5R($UA
M>2`Q,"P@,C`P.2`H=&AE("8C>#(P,4,[3&]C:RU5<"!3:&%R97,F(W@R,#%$
M.RD@9'5R:6YG('1H90T*<&5R:6]D(&-O;6UE;F-I;F<@;VX@36%Y(#$P+"`R
M,#`Y(&%N9"!E>'!I<FEN9R!O;B!-87)C:"`Y+"`R,#$Q#0HH=&AE("8C>#(P
M,4,[3&]C:RUU<"!097)I;V0F(W@R,#%$.RDN($AO=V5V97(L(&5A8V@@2&]L
M9&5R(&%N9`T*4VAA<F5H;VQD97(@:&%S(&$@<FEG:'0L('-O;&5L>2!I;B!A
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M;R!T:&4@3&]C:RUU<"!!9W)E96UE;G0@<')I;W(@=&\@=&AE($QO8VLM57`-
M"E-H87)E<R!B96EN9R!T<F%N<V9E<G)E9"!T;R!T:&5M+CPO<#X-"CQP('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@
M1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF
M(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-
M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T*26X@861D:71I;VXL('-U8FIE8W0@=&\@8V]M<&QI
M86YC92!W:71H(%)U;&4@,30T('5N9&5R('1H90T*4V5C=7)I=&EE<R!!8W0@
M;V8@,3DS,R`H)B-X,C`Q0SM2=6QE(#$T-"8C>#(P,40[*2P@96%C:"!(;VQD
M97(-"F9U<G1H97(@86=R965D(&EN(&5A8V@@;6]N=&@@;V8@=&AE(&YE>'0@
M='=E;'9E(&UO;G1H<R!F;VQL;W=I;F<-"G1H92!,;V-K+75P(%!E<FEO9"!N
M;W0@=&\@=')A;G-F97(@<VAA<F5S(&]F('1H92!#;VUP86YY)B-X,C`Q.3MS
M#0IC;VUM;VX@<W1O8VL@:6X@86X@86UO=6YT(&=R96%T97(@=&AA;B!T=V\@
M<&5R8V5N="`H,B4I(&]F('1H90T*=&]T86P@<VAA<F5S(&]F('1H92!#;VUP
M86YY)B-X,C`Q.3MS(&-O;6UO;B!S=&]C:R!I<W-U960@86YD#0IO=71S=&%N
M9&EN9R!I;B!A('!U8FQI8R!T<F%N<V%C=&EO;BP@86YD(&5A8V@@4VAA<F5H
M;VQD97(@9G5R=&AE<@T*86=R965D(&EN(&5A8V@@;6]N=&@@;V8@=&AE(&YE
M>'0@='=E;'9E(&UO;G1H<R!F;VQL;W=I;F<@=&AE#0I,;V-K+75P(%!E<FEO
M9"!N;W0@=&\@=')A;G-F97(@<VAA<F5S(&]F('1H92!#;VUP86YY)B-X,C`Q
M.3MS(&-O;6UO;@T*<W1O8VL@:6X@86X@86UO=6YT(&=R96%T97(@=&AA;B!O
M;F4@<&5R8V5N="`H,24I(&]F('1H92!T;W1A;`T*<VAA<F5S(&]F($-O;6UO
M;B!3=&]C:R!I<W-U960@86YD(&]U='-T86YD:6YG(&]F('1H92!#;VUP86YY
M+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)
M3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S
M+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=.
M.B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@
M3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*26X@36%R8V@@;V8@,C`Q,"P@
M=&AE($-O;7!A;GDF(W@R,#$Y.W,@;&5G86P@8V]U;G-E;"!W87,@8V]N=&%C
M=&5D#0IB>2!T:&4@2&]L9&5R<R8C>#(P,3D[(&QE9V%L(&-O=6YS96P@=VET
M:"!A(')E<75E<W0@=&AA="!T:&4@2&]L9&5R<PT*8F4@86QL;W=E9"!T;R!P
M;&5D9V4@=&AE(%-H87)E<R!T;R!787(@0VAE<W0@87,@<&%R="!O9B!A(&QO
M86X-"G1R86YS86-T:6]N("AT:&4@)B-X,C`Q0SM,;V%N)B-X,C`Q1#LI+B!/
M;B!-87)C:"`Q,2P@,C`Q,"P@5V%R#0I#:&5S="8C>#(P,3D[<R!L96=A;"!C
M;W5N<V5L('!R;W9I9&5D(&$@;&5T=&5R(&-O;F9I<FUI;F<@=&AA="!787(-
M"D-H97-T(&%G<F5E9"!T;R!A8FED92!B>2!T:&4@=&5R;7,@;V8@=&AE($QO
M8VLM=7`@06=R965M96YT('=I=&@-"G)E<W!E8W0@=&\@=&AE(%-H87)E<RX@
M5&AE($-O;7!A;GD@8F5L:65V97,@=&AA="!O;B!O<B!A8F]U="!-87)C:`T*
M,3<L(#(P,3`@=&AE(%-H87)E<R!W97)E('1R86YS9F5R<F5D(&9R;VT@=&AE
M(&YA;64@;V8@=&AE($AO;&1E<G,-"G1O(%=A<B!#:&5S="!A<R!C;VQL871E
M<F%L(&9O<B!T:&4@3&]A;G,N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@
M1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF
M(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-
M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4
M:6UE<RP@4V5R:68G/@T*/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"D)A<V5D(&]N(&$@1F]R;2`S(&9I
M;&5D(&)Y($A!4"!4<F%D:6YG+"!,3$,@*"8C>#(P,4,[2$%0)B-X,C`Q1#LI
M#0IW:71H('1H92!396-U<FET:65S(&%N9"!%>&-H86YG92!#;VUM:7-S:6]N
M("@F(W@R,#%#.U-%0R8C>#(P,40[*2!O;@T*3F]V96UB97(@,3`L(#(P,3`L
M('1H92!#;VUP86YY('5N9&5R<W1O;V0@=&AA="P@870@;&5A<W0@87,@;V8@
M=&AA=`T*9&%T92P@2$%0(&AE;&0@82!%=7)O<&5A;B!#86QL($9,15@@3W!T
M:6]N(&]N('1H92!3:&%R97,-"B@F(W@R,#%#.T]P=&EO;B8C>#(P,40[*2X@
M5&AE($]P=&EO;B!P97)M:71T960@2$%0('1O('!U<F-H87-E(&$-"G1O=&%L
M(&]F(#4L-S,P+#`P,"!S:&%R97,@;V8@1W5L9B!297-O=7)C97,@<W1O8VL@
M*')E<')E<V5N=&EN9PT*87!P<F]X:6UA=&5L>2`Q-24@;V8@=&AE('1O=&%L
M(&]U='-T86YD:6YG('-H87)E<R!O9B!S=6-H('-T;V-K*0T*9F]R("0P+C$R
M-2!E86-H+B!"87-E9"!O;B!D:7-C=7-S:6]N<R!W:71H(%=A<B!#:&5S="8C
M>#(P,3D[<R!L96=A;`T*8V]U;G-E;"P@=&AE($-O;7!A;GD@=V%S(&EN9F]R
M;65D('1H870@5V%R($-H97-T(&AA9"!U<V5D('1H90T*4VAA<F5S('1O(&-R
M96%T92!T:&4@3W!T:6]N+CPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.
M97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL
M93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/
M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*069T
M97(@<V5E:VEN9R8C>#(P,30[86YD(&YO="!R96-E:79I;F<F(W@R,#$T.W=R
M:71T96X@87-S=7)A;F-E<R!F<F]M#0I787(@0VAE<W0@=&AA="!I="!D:60@
M;F]T(&EN=&5N9"!T;R!V:6]L871E('1H92!,;V-K=7`@06=R965M96YT+`T*
M=&AE($-O;7!A;GD@8V]M;65N8V5D(&$@;&ET:6=A=&EO;B!A9V%I;G-T(%=A
M<B!#:&5S="!A;F0@2$%0(&)Y#0IF:6QI;F<@82!3=6UM;VYS(&%N9"!#;VUP
M;&%I;G0@:6X@=&AE(%-U<')E;64@0V]U<G0@;V8@=&AE(%-T871E(&]F#0I.
M97<@66]R:RP@3F5W(%EO<FL@0V]U;G1Y+"!O;B!*86YU87)Y(#(P+"`R,#$Q
M+B!4:&4@4W5M;6]N<R!A;F0-"D-O;7!L86EN="!A;&QE9V5S('1H870@=&AE
M(%-H87)E<R!A<F4@<W5B:F5C="!T;R!T:&4@3&]C:W5P#0I!9W)E96UE;G0@
M86YD('1H870@5V%R($-H97-T(&%N9"!(05`@87)E(&)O=6YD(&)Y('1H92!T
M97)M<R!O9B!T:&4-"DQO8VMU<"!!9W)E96UE;G0N(%1H92!L87=S=6ET('-E
M96MS(&$@8V]U<G0@;W)D97(@<')O:&EB:71I;F<@=&AE#0IS86QE(&]R('1R
M86YS9F5R(&]F('1H92!3:&%R97,@:6X@=FEO;&%T:6]N(&]F('1H92!,;V-K
M=7`-"D%G<F5E;65N="P@871T;W)N97DF(W@R,#$Y.W,@9F5E<RP@86YD(&]T
M:&5R(')E;&EE9BX\+W`^#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T
M:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O
M;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G
M5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q
M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"D]N($IA;G5A
M<GD@,C8L(#(P,3$L($A!4"!F:6QE9"!A($9O<FT@-"!W:71H('1H92!314,@
M9&ES8VQO<VEN9PT*=&AA="!I="!H860@97AE<F-I<V5D('1H92!/<'1I;VX@
M;VX@1F5B<G5A<GD@,C$L(#(P,3$@86YD(&AA9"!T86ME;@T*<&]S<V5S<VEO
M;B!O9B!T:&4@4VAA<F5S+B!/;B!&96)R=6%R>2`Q-2P@,C`Q,2P@2$%0(&9I
M;&5D(&%N#0IA9&1I=&EO;F%L($9O<FT@-"]!(&1I<V-L;W-I;F<@=&AA="!I
M="!H860@<V]L9"`R.#`L,#`P('-H87)E<R!O9@T*1W5L9B!297-O=7)C97,@
M8V]M;6]N('-T;V-K(&]N($9E8G)U87)Y(#$U+"`R,#$Q(&%T("0Y+C(X('!E
M<@T*<VAA<F4L(&%N9"!A;B!A9&1I=&EO;F%L(#,W,BPX,#D@<VAA<F5S(&%T
M("0Y+C,U."!I;B`F(W@R,#%#.V]P96X-"FUA<FME="!S=&]C:R!S86QE<R!D
M=7)I;F<@=&AE('!E<FEO9"`P,2\R-B\R,#$Q('1O#0HP,B\Q-2\R,#$Q)B-X
M,C`Q1#LN(%1H92!F;W)M(&EN9&EC871E<R!T:&%T(&%S(&]F($9E8G)U87)Y
M(#$U+"`R,#$Q+`T*2$%0('=A<R!B96YE9FEC:6%L(&]W;F5R(&]F(&]N;'D@
M-"PY,3<L,#0V('-H87)E<R!O9B!'=6QF(%)E<V]U<F-E<PT*8V]M;6]N('-T
M;V-K+"!A;F0@:70@86QS;R!I;F1I8V%T97,@=&AA="!(05`@:&%S('!U<F-H
M87-E9"!A;@T*861D:71I;VYA;"!#86QL($]P=&EO;B!T;R!P=7)C:&%S92`V
M.3DL.3`P('-H87)E<R!O9B!'=6QF(%)E<V]U<F-E<PT*0V]M;6]N('-T;V-K
M(&%T("0Q,"!P97(@<VAA<F4L(&5X97)C:7-A8FQE(&9R;VT@1F5B<G5A<GD@
M,34L(#(P,3$-"G1H<F]U9V@@07!R:6P@,34L(#(P,3$N($]N($9E8G)U87)Y
M(#$T+"`R,#$Q($A!4"!F:6QE9"!A($UO=&EO;B!T;PT*1&ES;6ES<R!T:&4@
M0V]M<&%N>28C>#(P,3D[<R!C;VUP;&%I;G0@87,@=&\@2$%0(&]N;'DN/"]P
M/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P
M<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU
M<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^#0I!<R!O9B!-87D@-BP@,C`Q,2P@86QL
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M;G0@86=R965M96YT+`T*86YD('1H92!L:71I9V%T:6]N("AI;F-L=61I;F<@
M2$%0)B-X,C`Q.3MS(&9O<FUE<FQY('!E;F1I;F<@;6]T:6]N*0T*:&%S(&)E
M96X@9&ES;6ES<V5D(&)Y('-T:7!U;&%T:6]N(&]F(&%L;"!P87)T:65S+"!W
M:71H#0IP<F5J=61I8V4N/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE
M=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].
M5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0H\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*/&(^0VQA<W,@06-T:6]N/"]B/CPO<#X-"CQP('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*5&AE($-O;7!A;GD@86YD(&-E<G1A:6X@;V8@:71S(&]F9FEC97)S
M(&%N9"!D:7)E8W1O<G,@*$UI;F<@66%N9RP-"EAI86]B:6X@3&EU+"!A;F0@
M36EN($QI+"!C;VQL96-T:79E;'DL('1H92`F(W@R,#%#.TEN9&EV:61U86P-
M"D1E9F5N9&%N=',F(W@R,#%$.RD@:&%V92!B965N(&YA;65D(&%S(&1E9F5N
M9&%N=',@:6X@82!P=71A=&EV90T*<V5C=7)I=&EE<R!C;&%S<R!A8W1I;VX@
M;&%W<W5I="!A;&QE9VEN9R!V:6]L871I;VYS(&]F('1H92!F961E<F%L#0IS
M96-U<FET:65S(&QA=W,N)B-X03`[)B-X03`[5&AA="!A8W1I;VXL('=H:6-H
M(&ES(&YO=R!C87!T:6]N960-"CQI/DQE=WDL(&5T(&%L+B!V+B!'=6QF(%)E
M<V]U<F-E<RP@26YC+BP@970@86PN/"]I/BP@3F\N(#$Q+6-V+3,W,C(-"D]$
M5R`H35)7>"DL('=A<R!F:6QE9"!O;B!!<')I;"`R.2P@,C`Q,2!I;B!T:&4@
M56YI=&5D(%-T871E<PT*1&ES=')I8W0@0V]U<G0@9F]R('1H92!#96YT<F%L
M($1I<W1R:6-T(&]F#0I#86QI9F]R;FEA+B8C>$$P.R8C>$$P.U1H92!L96%D
M('!L86EN=&EF9G,L('=H;R!S965K('1O(')E<')E<V5N="!A#0IC;&%S<R!O
M9B!A;&P@<'5R8VAA<V5R<R!A;F0@86-Q=6ER97)S(&]F('1H92!#;VUP86YY
M)B-X,C`Q.3MS(&-O;6UO;@T*<W1O8VL@8F5T=V5E;B!-87)C:"`Q-BP@,C`P
M.2!A;F0@07!R:6P@,C8L(#(P,3$@:6YC;'5S:79E+"!F:6QE9"!A;@T*86UE
M;F1E9"!C;VUP;&%I;G0@;VX@4V5P=&5M8F5R(#$R+"`R,#$Q+B8C>$$P.R8C
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M;G1S(&EN('1H92!#;VUP86YY)B-X,C`Q.3MS($%N;G5A;"!297!O<G1S(&]N
M($9O<FT@,3`M2R!F;W(-"G1H92!Y96%R<R!E;F1E9"!$96-E;6)E<B`S,2P@
M,C`P."P@,C`P.2P@86YD(#(P,3`L(&%N9"!I;B!I;G1E<FEM#0IQ=6%R=&5R
M;'D@<F5P;W)T<R!B>2P@86UO;F<@;W1H97(@=&AI;F=S+"!O=F5R<W1A=&EN
M9R!R979E;G5E(&%N9`T*;F5T(&EN8V]M92!A;F0@9F%I;&EN9R!T;R!D:7-C
M;&]S92!M871E<FEA;"!R96QA=&5D('!A<G1Y#0IT<F%N<V%C=&EO;G,@86YD
M(&-E<G1A:6X@9F%C=',@86)O=70@=&AE($-%3R8C>#(P,3D[<R!P<FEO<@T*
M96UP;&]Y;65N="!A="!A;F]T:&5R(&-O;7!A;GDN)B-X03`[)B-X03`[5&AE
M(&%M96YD960@8V]M<&QA:6YT#0IA;'-O(&%S<V5R=',@8VQA:6US(&%G86EN
M<W0@=&AE($EN9&EV:61U86P@1&5F96YD86YT<R!F;W(-"G9I;VQA=&EO;G,@
M;V8@4V5C=&EO;B`R,"AA*2!O9B!T:&4@4V5C=7)I=&EE<R!%>&-H86YG92!!
M8W0@;V8@,3DS-"X-"E1H92!A;65N9&5D(&-O;7!L86EN="!S965K<R!D86UA
M9V5S(&EN(&%N('5N<W!E8VEF:65D(&%M;W5N="X@3VX-"DYO=F5M8F5R(#<L
M(#(P,3$L('1H92!#;VUP86YY(&9I;&5D(&$F(WA!,#MM;W1I;VX@=&\F(WA!
M,#MD:7-M:7-S#0IT:&4@86UE;F1E9"!C;VUP;&%I;G0N)B-X03`[3VX@1&5C
M96UB97(@,S`L(#(P,3$L(&QE860@<&QA:6YT:69F<PT*9FEL960@86X@;W!P
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M<G0@;V8@:71S(&UO=&EO;B!T;R!D:7-M:7-S+`T*;&5A9"!P;&%I;G1I9F9S
M(&9I;&5D(&%N(&]B:F5C=&EO;B!O;B!&96)R=6%R>2`Q-RP@,C`Q,BP@=&\@
M8V5R=&%I;@T*9&]C=6UE;G1S(&9I;&5D(&)Y('1H92!#;VUP86YY(&EN('-U
M<'!O<G0@;V8@:71S(&UO=&EO;B!T;R!D:7-M:7-S+@T*5&AE($-O;7!A;GD@
M;W!P;W-E9"!T:&4@;V)J96-T:6]N(&]N($9E8G)U87)Y(#(R+"`R,#$R+"!T
M;R!W:&EC:`T*;&5A9"!P;&%I;G1I9F9S(')E<&QI960@:6X@9G5R=&AE<B!S
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M:6=A=&EO;BXF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
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M;G-E<RX\+W`^#0H-"@T*/"]D:78^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@
M("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T*
M+2TM+2TM/5].97AT4&%R=%\T,#4R8S$S,E\X8S-B7S0P93E?.&$S-%]C8C<U
M-CDP8S1B9F8-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO-#`U,F,Q
M,S)?.&,S8E\T,&4Y7SAA,S1?8V(W-38Y,&,T8F9F+U=O<FMS:&5E=',O4VAE
M970S,"YH=&UL#0I#;VYT96YT+51R86YS9F5R+45N8V]D:6YG.B!Q=6]T960M
M<')I;G1A8FQE#0I#;VYT96YT+51Y<&4Z('1E>'0O:'1M;#L@8VAA<G-E=#TB
M=7,M87-C:6DB#0H-"CQH=&UL/@T*("`\:&5A9#X-"B`@("`\345402!H='1P
M+65Q=6EV/3-$0V]N=&5N="U4>7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C
M:&%R<V5T/75T9BTX)SX\<V-R:7!T('1Y<&4],T1T97AT+VIA=F%S8W)I<'0@
M<W)C/3-$4VAO=RYJ<SXO*B!$;R!.;W0@4F5M;W9E(%1H:7,@0V]M;65N="`J
M+SPO<V-R:7!T/CPO:&5A9#X-"B`@/&)O9'D^#0H@("`@/'1A8FQE(&-L87-S
M/3-$<F5P;W)T(&ED/3-$240P14%$/@T*("`@("`@/'1R/@T*("`@("`@("`\
M=&@@8VQA<W,],T1T;"!C;VQS<&%N/3-$,2!R;W=S<&%N/3-$,CX\<W1R;VYG
M/E-50E-%455%3E0@159%3E13/&)R/CPO<W1R;VYG/CPO=&@^#0H@("`@("`@
M(#QT:"!C;&%S<STS1'1H(&-O;'-P86X],T0Q/C$R($UO;G1H<R!%;F1E9#PO
M=&@^#0H@("`@("`\+W1R/@T*("`@("`@/'1R/@T*("`@("`@("`\=&@@8VQA
M<W,],T1T:#Y$96,N(#,Q+"`R,#$Q/&)R/CPO=&@^#0H@("`@("`\+W1R/@T*
M("`@("`@/'1R(&-L87-S/3-$<F4^#0H@("`@("`@(#QT9"!C;&%S<STS1'!L
M('9A;&EG;CTS1'1O<#Y354)315%514Y4($5614Y44SPO=&0^#0H@("`@("`@
M(#QT9"!C;&%S<STS1'1E>'0^/&1I=CX-"CQP('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE
M<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I.3U1%(#(T("8C>#(P,3,[
M(%-50E-%455%3E0@159%3E13/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'
M3CH@:G5S=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S
M($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@
M1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0I-
M86YA9V5M96YT(&AA<R!E=F%L=6%T960@<W5B<V5Q=65N="!E=F5N=',@9G)O
M;2!$96-E;6)E<B`S,2P@,C`Q,0T*=&\@=&AE(&1A=&4@=VAI8V@@;W5R(&9I
M;F%N8VEA;"!S=&%T96UE;G1S(&AA=F4@8F5E;B!I<W-U960@86YD#0IW97)E
M(&%V86EL86)L92!T;R!B92!I<W-U960L(&%N9"!H87,@8V]N8VQU9&5D('1H
M870@;F\@;6%T97)I86P-"G-U8G-E<75E;G0@979E;G1S(&AA=F4@;V-C=7)R
M960@<VEN8V4@1&5C96UB97(@,S$L(#(P,3$@=&AA=`T*<F5Q=6ER960@<F5C
M;V=N:71I;VX@;W(@9&ES8VQO<W5R92!I;B!O=7(@8W5R<F5N="!Y96%R(&9I
M;F%N8VEA;`T*<W1A=&5M96YT<RX@4W5B<V5Q=65N="!E=F5N=',@=&AA="!M
M87D@;V-C=7(@869T97(@=&AE(&1A=&4@;V8-"FES<W5E(&]F(&9I;F%N8VEA
M;"!S=&%T96UE;G1S(&AA=F4@;F]T(&)E96X@979A;'5A=&5D+CPO<#X-"CPO
M9&EV/CQS<&%N/CPO<W!A;CX\+W1D/@T*("`@("`@/"]T<CX-"B`@("`\+W1A
M8FQE/@T*("`\+V)O9'D^#0H\+VAT;6P^#0H-"BTM+2TM+3U?3F5X=%!A<G1?
M-#`U,F,Q,S)?.&,S8E\T,&4Y7SAA,S1?8V(W-38Y,&,T8F9F#0I#;VYT96YT
M+4QO8V%T:6]N.B!F:6QE.B\O+T,Z+S0P-3)C,3,R7SAC,V)?-#!E.5\X83,T
M7V-B-S4V.3!C-&)F9B]7;W)K<VAE971S+U-H965T,S$N:'1M;`T*0V]N=&5N
M="U4<F%N<V9E<BU%;F-O9&EN9SH@<75O=&5D+7!R:6YT86)L90T*0V]N=&5N
M="U4>7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M
M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M
M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA<G-E=#UU=&8M."<^/'-C
M<FEP="!T>7!E/3-$=&5X="]J879A<V-R:7!T('-R8STS1%-H;W<N:G,^+RH@
M1&\@3F]T(%)E;6]V92!4:&ES($-O;6UE;G0@*B\\+W-C<FEP=#X\+VAE860^
M#0H@(#QB;V1Y/@T*("`@(#QT86)L92!C;&%S<STS1')E<&]R="!I9#TS1$E$
M,$5!1#X-"B`@("`@(#QT<CX-"B`@("`@("`@/'1H(&-L87-S/3-$=&P@8V]L
M<W!A;CTS1#$@<F]W<W!A;CTS1#(^/'-T<F]N9SY005)%3E0@3TY,62!&24Y!
M3D-)04P@24Y&3U)-051)3TX\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@
M/'1H(&-L87-S/3-$=&@@8V]L<W!A;CTS1#$^,3(@36]N=&AS($5N9&5D/"]T
M:#X-"B`@("`@(#PO='(^#0H@("`@("`\='(^#0H@("`@("`@(#QT:"!C;&%S
M<STS1'1H/D1E8RX@,S$L(#(P,3$\8G(^/"]T:#X-"B`@("`@(#PO='(^#0H@
M("`@("`\='(@8VQA<W,],T1R93X-"B`@("`@("`@/'1D(&-L87-S/3-$<&P@
M=F%L:6=N/3-$=&]P/E!!4D5.5"!/3DQ9($9)3D%.0TE!3"!)3D9/4DU!5$E/
M3CPO=&0^#0H@("`@("`@(#QT9"!C;&%S<STS1'1E>'0^/&1I=CX-"CQP('-T
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M(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\<"!S='EL93TS1"=415A4
M+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@
M5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*5&AE(&9O;&QO=VEN
M9R!P<F5S96YT<R!C;VYD96YS960@<&%R96YT(&-O;7!A;GD@;VYL>2!F:6YA
M;F-I86P-"FEN9F]R;6%T:6]N(&]F($=U;&8@4F5S;W5R8V5S+"!);F,N/"]P
M/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE..B`P
M<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E
M<FEF)SX-"B8C>$$P.SPO<#X-"CQP('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU
M<W1I9GD[($U!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE<R!.97<@
M4F]M86XL(%1I;65S+"!397)I9B<^#0H\=3Y#;VYD96YS960@0F%L86YC92!3
M:&5E=',\+W4^/"]P/@T*/'1A8FQE('-T>6QE/3-$)U=)1%1(.B`Q,#`E.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)R!C96QL
M<W!A8VEN9STS1#`@8V5L;'!A9&1I;F<],T0P/@T*/'1R('-T>6QE/3-$)U9%
M4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%
M6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#8^07,@;V8@1&5C96UB97(@
M,S$L/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF
M(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'
M3CH@8F]T=&]M)SX-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!
M1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!C
M96YT97(G(&-O;'-P86X],T0R/C(P,3$\+W1D/@T*/'1D('-T>6QE/3-$)U!!
M1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ
M(&-E;G1E<B<@8V]L<W!A;CTS1#(^,C`Q,#PO=&0^#0H\=&0@<W1Y;&4],T0G
M4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@
M<W1Y;&4],T0G5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^)B-X03`[/"]T9#X-"CQT9#XF(WA!
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M5"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO
M='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%
M4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0[(%=)1%1(.B`W-"4G/@T*
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M24=..B!R:6=H=#L@5TE$5$@Z(#$P)2<^#0HS,#<L-C`P/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T
M.R!724142#H@,24G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$
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M,24G/@T*)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=2
M3U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ
M(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$
M1$E.1RU"3U143TTZ(#%P="<^5&]T86P@0W5R<F5N=`T*07-S971S/"]T9#X-
M"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI
M9#L@5$585"U!3$E'3CH@;&5F="<^#0HF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'
M3CH@<FEG:'0G/@T*,S`W+#8P,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-
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M;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO='(^
M#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)
M0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D/DYO;BU#=7)R96YT($%S<V5T<SPO
M=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(')I9VAT)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL
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M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H
M="<^,3DR+#8S-BPX-3(\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXQ,SDL.3,V+#`T,CPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^
M#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)
M0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/D%M;W5N=',@9'5E(&9R;VT-
M"F=R;W5P(&-O;7!A;FEE<SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"
M3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M
M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C
M:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C4R+#0Y-"PW-S$\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M
M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.
M1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$
M15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G
M/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B
M;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C4T+#,W,BPY
M,S,\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)
M3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE
M/3-$)T)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"D[(%9%4E1)
M0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/E1O=&%L(&YO;BUC=7)R96YT
M#0IA<W-E=',\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q
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M(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/
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M5$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!
M0TM'4D]53D0M0T],3U(Z('=H:71E.R!615)424-!3"U!3$E'3CH@8F]T=&]M
M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/
M5%1/33H@,BXU<'0G/E1O=&%L#0I!<W-E=',\+W1D/@T*/'1D('-T>6QE/3-$
M)U!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M
M04Q)1TXZ(&QE9G0G/@T*)#PO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/
M5%1/33H@8FQA8VL@,BXU<'0@9&]U8FQE.R!415A4+4%,24=..B!R:6=H="<^
M#0HR-#4L-#,Y+#(R,SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F=#L@4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B
M;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)#PO=&0^#0H\=&0@<W1Y;&4],T0G
M0D]21$52+4)/5%1/33H@8FQA8VL@,BXU<'0@9&]U8FQE.R!415A4+4%,24=.
M.B!R:6=H="<^#0HQ.30L,S`X+#DW-3PO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF(WA!,#L\
M+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R
M9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT
M9#XF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-
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M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D
M/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H
M,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SY#=7)R96YT($QI86)I;&ET:65S
M/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@<FEG:'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\
M='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,
M+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0G/D]T:&5R('!A>6%B;&5S(&%N9"!A8V-R=65D#0IE>'!E;G-E<SPO=&0^
M#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L
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M9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/D%M;W5N=',@9'5E('1O#0IG<F]U
M<"!C;VUP86YI97,\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-
M.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/
M33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!L969T)SX-"B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T
M('-O;&ED.R!415A4+4%,24=..B!R:6=H="<^#0HQ+#(X.2PY-30\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-
M.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U14
M3TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]4
M5$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q
M<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C$L,3$U+#@V-#PO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U14
M3TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#
M2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]4
M5$]-.B`R+C5P="<^5&]T86P-"DQI86)I;&ET:65S/"]T9#X-"CQT9"!S='EL
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M1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)
M1TXZ(')I9VAT)SX-"C$L-C(S+#<X,3PO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF(WA!,#L\
M+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R
M9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT
M9#XF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!W:&ET93L@
M5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^4W1O8VMH;VQD97)S)B-X,C`Q.3L@17%U:71Y/"]T9#X-
M"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG
M:'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@<FEG:'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y
M;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D52
M5$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@;&5F="<^4%)%1D524D5$(%-43T-+.R`D,"XP,#$@<&%R('9A;'5E.PT*
M,2PP,#`L,#`P('-H87)E<R!A=71H;W)I>F5D.R!N;VYE(&]U='-T86YD:6YG
M/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B0F(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(')I9VAT)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXD/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H="<^+28C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4]
M,T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B
M;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%1%6%0M
M24Y$14Y4.B`M,"XQ:6X[(%!!1$1)3D<M3$5&5#H@,"XQ:6XG/D-/34U/3@T*
M4U1/0TL[("0P+C`P,#4@<&%R('9A;'5E.R`Q,#`L,#`P+#`P,"!S:&%R97,@
M875T:&]R:7IE9#L@,S0L-S0U+#,T,@T*86YD(#,T+#<S-2PY,3(@<VAA<F5S
M(&ES<W5E9#L@86YD(#,T+#4V,"PW-#,@86YD(#,T+#<S-2PY,3(@<VAA<F5S
M#0IO=71S=&%N9&EN9R!A<R!O9B!$96-E;6)E<B`S,2P@,C`Q,2!A;F0@,C`Q
M,"P@<F5S<&5C=&EV96QY/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C$W+#,W,SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C$W+#,V
M.#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@
M<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\
M=&0^5')E87-U<GD@<W1O8VL[(#$X-"PU.3D@<VAA<F5S(&%S(&]F($1E8V5M
M8F5R(#,Q+"`R,#$Q(&%T#0IC;W-T/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/B@U,#`L,#`P/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXI/"]T9#X-"CQT9#XF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/BT\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO
M=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M0T],3U(Z('=H
M:71E.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SY!9&1I=&EO;F%L('!A:60M:6X@8V%P:71A;#PO
M=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(')I9VAT)SXW-"PQ,#<L.3<Y/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!R:6=H="<^-C8L-C(V+#4X-#PO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO
M='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P-"PR
M-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^4F5T86EN960@96%R;FEN9W,@=6YA<'!R
M;W!R:6%T960\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!R:6=H="<^,3,S+#,Q-"PU.#$\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXQ,#8L-3`P
M+#`X-3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/
M4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/E)E=&%I;F5D(&5A<FYI;F=S(&%P<')O
M<')I871E9#PO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(')I9VAT)SXQ-"PT,#DL-34W/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^,3`L,C<Q+#(Y
M,SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@
M<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ
M(#%P="<^0W5M=6QA=&EV90T*=')A;G-L871I;VX@861J=7-T;65N=#PO=&0^
M#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L
M:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)
M1TXZ(')I9VAT)SX-"C(Q+#<V,RPR-C8\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M
M04Q)1TXZ(')I9VAT)SX-"CDL,C8Y+#@V-#PO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@
M=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/E1O=&%L
M#0I3=&]C:VAO;&1E<G,F(W@R,#$Y.R!%<75I='D\+W1D/@T*/'1D('-T>6QE
M/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,
M24=..B!L969T)SX-"B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52
M+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!R:6=H="<^
M#0HR-#,L,3$R+#<U-CPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D
M('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$58
M5"U!3$E'3CH@;&5F="<^#0HF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/
M4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@<FEG
M:'0G/@T*,3DR+#8X-2PQ.30\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\
M+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L
M,C4U+#(P-"D[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^
M5&]T86P-"DQI86)I;&ET:65S(&%N9"!3=&]C:VAO;&1E<G,F(W@R,#$Y.R!%
M<75I='D\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`R+C5P
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B
M;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)#PO=&0^
M#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,BXU<'0@9&]U
M8FQE.R!415A4+4%,24=..B!R:6=H="<^#0HR-#4L-#,Y+#(R,SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ
M(#(N-7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]4
M5$]-.B`R+C5P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M
M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0G
M/@T*)#PO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@
M,BXU<'0@9&]U8FQE.R!415A4+4%,24=..B!R:6=H="<^#0HQ.30L,S`X+#DW
M-3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.
M1RU"3U143TTZ(#(N-7!T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CPO=&%B;&4^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R
M:68G/@T*)B-X03`[/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S
M=&EF>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2
M;VUA;BP@5&EM97,L(%-E<FEF)SX-"CQU/D-O;F1E;G-E9"!3=&%T96UE;G1S
M(&]F($EN8V]M928C>$$P.SPO=3X\+W`^#0H\=&%B;&4@<W1Y;&4],T0G5TE$
M5$@Z(#$P,"4[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@
M4V5R:68G(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D9&EN9STS1#`^#0H\='(@
M<W1Y;&4],T0G5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P
M="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,3`^665A
M<G,@16YD960@1&5C96UB97(@,S$L/"]T9#X-"CQT9"!S='EL93TS1"=0041$
M24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL
M93TS1"=615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9#XF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O
M;&ED.R!415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R/C(P,3$\+W1D
M/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A;CTS1#(^,C`Q,#PO
M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P
M="!S;VQI9#L@5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,CXR,#`Y
M/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,7!T)SXF(WA!
M,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'3CH@
M8F]T=&]M)SX-"CQT9#XF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@8V5N=&5R)R!C;VQS<&%N/3-$,CXF
M(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97(G(&-O;'-P86X],T0R
M/E5N875D:71E9#PO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E<B<@8V]L<W!A
M;CTS1#(^56YA=61I=&5D/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/"]T<CX-
M"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR
M,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SY/4$52051)3D<@*$584$5.4T53*2!)3D-/344\
M+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!W
M:&ET93L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU,1494.B`Y<'0[(%=)1%1(.B`V
M,24G/D=E;F5R86P-"F%N9"!A9&UI;FES=')A=&EV92!E>'!E;G-E<SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)#PO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/B@Y
M+#4U,BPW,#<\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[
M(%=)1%1(.B`Q)2<^*3PO=&0^#0H\=&0@<W1Y;&4],T0G5TE$5$@Z(#$E)SXF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)
M1%1(.B`Q)2<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG
M:'0[(%=)1%1(.B`Q,"4G/B@R+#DU-RPT-C<\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^*3PO=&0^#0H\=&0@<W1Y
M;&4],T0G5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)#PO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/B@S+#(T,"PT.3<\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q
M)2<^*3PO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M0T],
M3U(Z(')G8B@R,#0L,C4U+#(P-"D[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]4
M5$]-.B`Q<'0[(%!!1$1)3D<M3$5&5#H@.7!T)SY/=&AE<@T*;W!E<F%T:6YG
M(&EN8V]M93PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B
M;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L
M:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C,P,"PP,#`\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G
M/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B
M;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L
M:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"BT\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q
M<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%
M6%0M04Q)1TXZ(')I9VAT)SX-"BT\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^
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M3TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]4
M5$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q
M<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"B@R+#DU-RPT-C<\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]4
M5$]-.B`Q<'0G/BD\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-
M.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/
M33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!L969T)SX-"B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T
M('-O;&ED.R!415A4+4%,24=..B!R:6=H="<^#0HH,RPR-#`L-#DW/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/
M33H@,7!T)SXI/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.
M1"U#3TQ/4CH@<F=B*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O
M='1O;2<^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^3U1(15(@
M15A014Y315,\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*
M/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$
M+4-/3$]2.B!W:&ET93L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P
M=#L@4$%$1$E.1RU,1494.B`Y<'0G/DEN=&5R97-T#0IE>'!E;G-E/"]T9#X-
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M4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ
M(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]4
M5$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"BT\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M
M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$
M)T)!0TM'4D]53D0M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"D[(%9%4E1)0T%,
M+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/E1/5$%,($]42$52#0I%6%!%3E-%
M4SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q
M<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%
M6%0M04Q)1TXZ(')I9VAT)SX-"B@Q+#DT,3PO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P="<^*3PO=&0^
M#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L
M:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)
M1TXZ(')I9VAT)SX-"B@W-C0\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/BD\+W1D/@T*/'1D('-T
M>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@
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M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL
M93TS1"=415A4+4%,24=..B!R:6=H="<^*#DL,C4T+#8T.#PO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^*3PO=&0^#0H\=&0^)B-X03`[
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M54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'3CH@
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M;VQI9#L@5$585"U!3$E'3CH@<FEG:'0G/@T*-#`L,C`W+#0P.#PO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ
M(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/
M33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U14
M3TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@;&5F="<^#0HF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(&)L86-K(#%P
M="!S;VQI9#L@5$585"U!3$E'3CH@<FEG:'0G/@T*-30L,C0Q+#4U,3PO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U14
M3TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/
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M3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G
M0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T
M;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/DE.0T]-12!"
M149/4D4@5$%815,\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H="<^,S`L.34R+#<V,#PO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!
M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P
M.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C4Q+#(X
M,RPS,C`\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C
M>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
M04Q)1TXZ(')I9VAT)SXS,"PU.3$L-#$U/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S='EL
M93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!615)4
M24-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T)SY)3D-/344@5$%815,\+W1D
M/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO
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M('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\
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M/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y
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M:'0G/@T*,S`L.34R+#<V,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'
M3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#(N-7!T)SXF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`R+C5P="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D
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M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D;W5B;&4[
M(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C,P+#4Y,2PT,34\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P
M="<^)B-X03`[/"]T9#X-"CPO='(^#0H\+W1A8FQE/@T*/'`@<W1Y;&4],T0G
M5$585"U!3$E'3CH@8V5N=&5R.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P
M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[/"]P
M/@T*/'`@<W1Y;&4],T0G34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I
M;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQP
M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P
M>#L@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^
M#0H\=3Y#;VYD96YS960@4W1A=&5M96YT<R!O9B!#87-H($9L;W=S/"]U/CPO
M<#X-"CQT86)L92!S='EL93TS1"=724142#H@,3`P)3L@1D].5#H@,3!P="!4
M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<@8V5L;'-P86-I;F<],T0P
M(&-E;&QP861D:6YG/3-$,#X-"CQT<B!S='EL93TS1"=615)424-!3"U!3$E'
M3CH@8F]T=&]M)SX-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!
M1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!C
M96YT97(G(&-O;'-P86X],T0Q,#Y996%R<R!%;F1E9"!$96-E;6)E<B`S,2P\
M+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P
M.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)U9%4E1)0T%,+4%,24=..B!B
M;W1T;VTG/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.
M1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$
M15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&-E;G1E
M<B<@8V]L<W!A;CTS1#(^,C`Q,3PO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.
M1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$
M24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/
M4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@8V5N
M=&5R)R!C;VQS<&%N/3-$,CXR,#$P/"]T9#X-"CQT9"!S='EL93TS1"=0041$
M24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!
M1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!C
M96YT97(G(&-O;'-P86X],T0R/C(P,#D\+W1D/@T*/'1D('-T>6QE/3-$)U!!
M1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T
M>6QE/3-$)U9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!C96YT97(G(&-O;'-P86X],T0R/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[
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M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X
M03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!R:6=H="<^)B-X03`[/"]T9#X-"CQT9"!S
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M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^)#PO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@<FEG:'0[(%=)1%1(.B`Q,"4G/C,P+#DU,BPW-C`\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%=)1%1(.B`Q)2<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=724142#H@,24G/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@5TE$5$@Z(#$E
M)SXD/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H=#L@5TE$
M5$@Z(#$P)2<^-3$L,C@S+#,R,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F=#L@5TE$5$@Z(#$E)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U=)1%1(.B`Q)2<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!L969T.R!724142#H@,24G/B0\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(')I9VAT.R!724142#H@,3`E)SXS,"PU.3$L-#$U/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!724142#H@,24G
M/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T>6QE/3-$)T)!0TM'4D]53D0M
M0T],3U(Z(')G8B@R,#0L,C4U+#(P-"D[(%9%4E1)0T%,+4%,24=..B!B;W1T
M;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%1%6%0M24Y$
M14Y4.B`M,"XQ:6X[(%!!1$1)3D<M3$5&5#H@,"XQ:6XG/@T*061J=7-T;65N
M=',@=&\@<F5C;VYC:6QE(&YE="!I;F-O;64@=&\@;F5T(&-A<V@@<')O=FED
M960@8GD-"F]P97)A=&EN9R!A8W1I=FET:65S.CPO=&0^#0H\=&0^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXF(WA!,#L\
M+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO
M=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
M.B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(')I9VAT)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ
M(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL
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M.R!0041$24Y'+4Q%1E0Z(#`N,C5I;B<^17%U:71Y(&5A<FYI;F=S#0II;B!U
M;F-O;G-O;&ED871E9"!S=6)S:61I87)I97,\+W1D/@T*/'1D/B8C>$$P.SPO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^*#0P+#(P-RPT
M,#@\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/BD\+W1D
M/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R
M:6=H="<^*#4T+#(T,2PU-3$\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/BD\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!R:6=H="<^*#,S+#@S,2PY,3(\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/BD\+W1D/@T*/"]T<CX-"CQT<B!S
M='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!6
M15)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T.R!0041$24Y'+4Q%1E0Z(#`N,C5I;B<^4W1O8VLM8F%S960-
M"F-O;7!E;G-A=&EO;B!E>'!E;G-E/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\
M=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C<L-#@Q+#0P,#PO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG
M:'0G/C$L,C@R+#0R.#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@<FEG:'0G/C(L,#(R+#(T,#PO=&0^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\
M='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,
M+4%,24=..B!B;W1T;VTG/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0G/D-H86YG97,@:6X@87-S971S(&%N9`T*;&EA8FEL:71I97,Z/"]T9#X-
M"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE
M9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG
M:'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F
M="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@<FEG:'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P
M-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU,1494.B`P+C(U:6XG
M/E!R97!A>6UE;G0@86YD#0ID97!O<VET<SPO=&0^#0H\=&0^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXH,S`W+#8P,#PO
M=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^*3PO=&0^#0H\
M=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T
M)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT
M)SXM/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!
M,#L\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!
M3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!R:6=H="<^+3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=2
M3U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG/@T*
M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-
M.B`Q<'0[(%!!1$1)3D<M3$5&5#H@,"XR-6EN)SY/=&AE<@T*<&%Y86)L97,@
M86YD(&%C8W)U960@97AP96YS97,\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)
M3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]2
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M3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]2
M1$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!L969T
M)SX-"B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/33H@
M8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!R:6=H="<^#0HR,#$L.#`P
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$24Y'
M+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)
M3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]2
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M(%!!1$1)3D<M0D]45$]-.B`Q<'0[($9/3E0M5T5)1TA4.B!B;VQD)SY.970@
M8V%S:`T*=7-E9"!I;B!O<&5R871I;F<@86-T:79I=&EE<SPO=&0^#0H\=&0@
M<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT
M9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%
M6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="
M3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I
M9VAT)SX-"B@Q+#4U,BPR-3(\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`Q<'0G/BD\+W1D/@T*/'1D('-T
M>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4
M+4%,24=..B!L969T)SX-"B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]2
M1$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!R:6=H
M="<^#0HH,2PT-S0L,#`S/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=.
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M="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@<FEG:'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B*#(P
M-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@<W1Y
M;&4],T0G5$585"U!3$E'3CH@;&5F="<^4F5P=7)C:&%S92!O9B!C;VUM;VX@
M<W1O8VL\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4
M+4%,24=..B!R:6=H="<^*#4P,"PP,#`\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/BD\+W1D/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO=&0^#0H\=&0@<W1Y;&4]
M,T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\
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M/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=4
M15A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(')I9VAT)SXR+#$Y,BPY,C`\+W1D/@T*/'1D('-T>6QE/3-$
M)U1%6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T
M9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXR,2PS,#<L,30R
M/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\
M+W1D/@T*/"]T<CX-"CQT<B!S='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R
M9V(H,C`T+#(U-2PR,#0I.R!615)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT
M9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SY0<F]C965D<R!F<F]M(&5X
M97)C:7-I;F<@<W1O8VL-"F]P=&EO;G,\+W1D/@T*/'1D/B8C>$$P.SPO=&0^
M#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-
M"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R:6=H="<^+3PO=&0^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X03`[/"]T9#X-"CQT9#XF
M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0G/B8C
M>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@<FEG:'0G/C$X
M+#`P,#PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^)B-X
M03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M
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M33H@,7!T)SY!9'9A;F-E<R!F<F]M("\-"BAT;RD@9W)O=7`@8V]M<&%N:65S
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M,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`Q<'0G/B8C
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M=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[
M/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@
M<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M
M04Q)1TXZ(')I9VAT)SX-"B@Q.2PQ,C0L,CDY/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T)SXI/"]T
M9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#2T=23U5.1"U#3TQ/4CH@<F=B
M*#(P-"PR-34L,C`T*3L@5D525$E#04PM04Q)1TXZ(&)O='1O;2<^#0H\=&0@
M<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.1RU"3U143TTZ(#%P
M=#L@1D].5"U714E'2%0Z(&)O;&0G/DYE="!C87-H#0IP<F]V:61E9"!B>2!F
M:6YA;F-I;F<@86-T:79I=&EE<SPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.
M1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$
M15(M0D]45$]-.B!B;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(&QE9G0G
M/@T*)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B
M;&%C:R`Q<'0@<V]L:60[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"C$L-34R+#(U
M,CPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F=#L@4$%$1$E.
M1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$
M24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/
M4D1%4BU"3U143TTZ(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@;&5F
M="<^#0HF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ
M(&)L86-K(#%P="!S;VQI9#L@5$585"U!3$E'3CH@<FEG:'0G/@T*,2PT-S0L
M,#`S/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!0041$
M24Y'+4)/5%1/33H@,7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!
M1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G
M0D]21$52+4)/5%1/33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!L
M969T)SX-"B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G0D]21$52+4)/5%1/
M33H@8FQA8VL@,7!T('-O;&ED.R!415A4+4%,24=..B!R:6=H="<^#0HR+#$X
M,BPX,C$\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!
M1$1)3D<M0D]45$]-.B`Q<'0G/B8C>$$P.SPO=&0^#0H\+W1R/@T*/'1R('-T
M>6QE/3-$)T)!0TM'4D]53D0M0T],3U(Z('=H:71E.R!615)424-!3"U!3$E'
M3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!L969T)SY.
M150@24Y#4D5!4T4@24X@0T%32"!!3D0@0T%32`T*15%5259!3$5.5%,\+W1D
M/@T*/'1D/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@
M;&5F="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=415A4+4%,24=..B!R
M:6=H="<^+3PO=&0^#0H\=&0@<W1Y;&4],T0G5$585"U!3$E'3CH@;&5F="<^
M)B-X03`[/"]T9#X-"CQT9#XF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U1%
M6%0M04Q)1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0@<W1Y;&4],T0G5$58
M5"U!3$E'3CH@<FEG:'0G/BT\+W1D/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)
M1TXZ(&QE9G0G/B8C>$$P.SPO=&0^#0H\=&0^)B-X03`[/"]T9#X-"CQT9"!S
M='EL93TS1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/'1D('-T
M>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT)SXM/"]T9#X-"CQT9"!S='EL93TS
M1"=415A4+4%,24=..B!L969T)SXF(WA!,#L\+W1D/@T*/"]T<CX-"CQT<B!S
M='EL93TS1"="04-+1U)/54Y$+4-/3$]2.B!R9V(H,C`T+#(U-2PR,#0I.R!6
M15)424-!3"U!3$E'3CH@8F]T=&]M)SX-"CQT9"!S='EL93TS1"=415A4+4%,
M24=..B!L969T.R!0041$24Y'+4)/5%1/33H@,7!T)SY#05-(($%.1"!#05-(
M#0I%455)5D%,14Y44R`M($)%1TE.3DE.1R!/1B!914%2/"]T9#X-"CQT9"!S
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M4$%$1$E.1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS
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M1RU"3U143TTZ(#%P="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$
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M3TTZ(#%P="<^)B-X03`[/"]T9#X-"CPO='(^#0H\='(@<W1Y;&4],T0G0D%#
M2T=23U5.1"U#3TQ/4CH@=VAI=&4[(%9%4E1)0T%,+4%,24=..B!B;W1T;VTG
M/@T*/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]4
M5$]-.B`R+C5P="<^0T%32"!!3D0@0T%32`T*15%5259!3$5.5%,@+2!%3D0@
M3T8@645!4CPO=&0^#0H\=&0@<W1Y;&4],T0G4$%$1$E.1RU"3U143TTZ(#(N
M-7!T)SXF(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ
M(&)L86-K(#(N-7!T(&1O=6)L93L@5$585"U!3$E'3CH@;&5F="<^#0HD/"]T
M9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B;&%C:R`R+C5P="!D
M;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT)SX-"BT\+W1D/@T*/'1D('-T>6QE
M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[(%!!1$1)3D<M0D]45$]-.B`R+C5P="<^
M)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"=0041$24Y'+4)/5%1/33H@,BXU
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M(WA!,#L\+W1D/@T*/'1D('-T>6QE/3-$)U!!1$1)3D<M0D]45$]-.B`R+C5P
M="<^)B-X03`[/"]T9#X-"CQT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B!B
M;&%C:R`R+C5P="!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0G/@T*)#PO=&0^
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M:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^#0H\
M<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P
M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G
M/@T*3F]T97,Z/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF
M>3L@34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA
M;BP@5&EM97,L(%-E<FEF)SX-"B8C>$$P.SPO<#X-"CQT86)L92!S='EL93TS
M1"=-05)'24XM5$]0.B`P<'0[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
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M,'!T(#!P>"`P<'0@,"XU:6X[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N
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M1TXZ(&IU<W1I9GD[($U!4D=)3CH@,'!T(#!P>"`P<'0@,"XU:6X[($9/3E0Z
M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE<RP@4V5R:68G/@T*)B-X03`[
M/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@:G5S=&EF>3L@34%21TE.
M.B`P<'0@,'!X(#!P="`P+C5I;CL@1D].5#H@,3!P="!4:6UE<R!.97<@4F]M
M86XL(%1I;65S+"!397)I9B<^#0I!<R!O9B!$96-E;6)E<B`S,2P@,C`Q,2P@
M=&AE($-O;7!A;GD@:71S96QF(&AA<R!N;R!P=7)C:&%S90T*8V]M;6ET;65N
M="P@8V%P:71A;"!C;VUM:71M96YT(&%N9"!O<&5R871I;F<@;&5A<V4@8V]M
M;6ET;65N="!F;W(-"G1H92!C;VYD96YS960@<&%R96YT+6-O;7!A;GDM;VYL
M>2!F:6YA;F-I86P@<W1A=&5M96YT<RX\+W`^#0H\<"!S='EL93TS1"=415A4
M+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@@,'!T(#`N-6EN.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"B8C
M>$$P.SPO<#X-"CQT86)L92!S='EL93TS1"=-05)'24XM5$]0.B`P<'0[($9/
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M+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P="`P<'@@,'!T(#`N-6EN.R!&
M3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E<FEF)SX-"E-C
M:&5D=6QE($D@;V8@07)T:6-L92`U+3`T(&]F(%)E9W5L871I;VX@4RU8(')E
M<75I<F5S('1H92!C;VYD96YS960-"F9I;F%N8VEA;"!I;F9O<FUA=&EO;B!O
M9B!R96=I<W1R86YT('-H86QL(&)E(&9I;&5D('=H96X@=&AE#0IR97-T<FEC
M=&5D(&YE="!A<W-E=',@;V8@8V]N<V]L:61A=&5D('-U8G-I9&EA<FEE<R!E
M>&-E960@,C4-"G!E<F-E;G0@;V8@8V]N<V]L:61A=&5D(&YE="!A<W-E=',@
M87,@;V8@=&AE(&5N9"!O9B!T:&4@;6]S=`T*<F5C96YT;'D@8V]M<&QE=&5D
M(&9I<V-A;"!Y96%R+B!&;W(@<'5R<&]S97,@;V8@=&AE(&%B;W9E('1E<W0L
M#0IR97-T<FEC=&5D(&YE="!A<W-E=',@;V8@8V]N<V]L:61A=&5D('-U8G-I
M9&EA<FEE<R!S:&%L;"!M96%N('1H870-"F%M;W5N="!O9B!T:&4@<F5G:7-T
M<F%N="8C>#(P,3D[<R!P<F]P;W)T:6]N871E('-H87)E(&]F(&YE="!A<W-E
M=',-"F]F(&-O;G-O;&ED871E9"!S=6)S:61I87)I97,@*&%F=&5R(&EN=&5R
M8V]M<&%N>2!E;&EM:6YA=&EO;G,I#0IW:&EC:"!A<R!O9B!T:&4@96YD(&]F
M('1H92!M;W-T(')E8V5N="!F:7-C86P@>65A<B!M87D@;F]T(&)E#0IT<F%N
M<V9E<G)E9"!T;R!T:&4@<&%R96YT(&-O;7!A;GD@8GD@<W5B<VED:6%R:65S
M(&EN('1H92!F;W)M(&]F#0IL;V%N<RP@861V86YC97,@;W(@8V%S:"!D:79I
M9&5N9',@=VET:&]U="!T:&4@8V]N<V5N="!O9B!A('1H:7)D#0IP87)T>2`H
M:2YE+BP@;&5N9&5R+"!R96=U;&%T;W)Y(&%G96YC>2P@9F]R96EG;B!G;W9E
M<FYM96YT+`T*971C+BDN/"]P/@T*/'`@<W1Y;&4],T0G5$585"U!3$E'3CH@
M:G5S=&EF>3L@34%21TE..B`P<'0@,'!X(#!P="`P+C5I;CL@1D].5#H@,3!P
M="!4:6UE<R!.97<@4F]M86XL(%1I;65S+"!397)I9B<^#0HF(WA!,#L\+W`^
M#0H\<"!S='EL93TS1"=415A4+4%,24=..B!J=7-T:69Y.R!-05)'24XZ(#!P
M="`P<'@@,'!T(#`N-6EN.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@
M5&EM97,L(%-E<FEF)SX-"E1H92!C;VYD96YS960@<&%R96YT(&-O;7!A;GD@
M9FEN86YC:6%L('-T871E;65N=',@:&%V92!B965N#0IP<F5P87)E9"!I;B!A
M8V-O<F1A;F-E('=I=&@@4G5L92`Q,BTP-"P@4V-H961U;&4@22!O9B!296=U
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M)B-X,C`Q.3MS(&%B:6QI='D@=&\@8V]N=F5R="!234(@:6YT;R!54PT*1&]L
M;&%R<RX\+W`^#0H\+V1I=CX\<W!A;CX\+W-P86X^/"]T9#X-"B`@("`@(#PO
M='(^#0H@("`@/"]T86)L93X-"B`@/"]B;V1Y/@T*/"]H=&UL/@T*#0HM+2TM
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M:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#`R+FAT;6PB+SX-"B`\
M;SI&:6QE($A2968],T0B4VAE970P,RYH=&UL(B\^#0H@/&\Z1FEL92!(4F5F
M/3-$(E-H965T,#0N:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#`U
M+FAT;6PB+SX-"B`\;SI&:6QE($A2968],T0B4VAE970P-BYH=&UL(B\^#0H@
M/&\Z1FEL92!(4F5F/3-$(E-H965T,#<N:'1M;"(O/@T*(#QO.D9I;&4@2%)E
M9CTS1")3:&5E=#`X+FAT;6PB+SX-"B`\;SI&:6QE($A2968],T0B4VAE970P
M.2YH=&UL(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T,3`N:'1M;"(O/@T*
M(#QO.D9I;&4@2%)E9CTS1")3:&5E=#$Q+FAT;6PB+SX-"B`\;SI&:6QE($A2
M968],T0B4VAE970Q,BYH=&UL(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T
M,3,N:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#$T+FAT;6PB+SX-
M"B`\;SI&:6QE($A2968],T0B4VAE970Q-2YH=&UL(B\^#0H@/&\Z1FEL92!(
M4F5F/3-$(E-H965T,38N:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E
M=#$W+FAT;6PB+SX-"B`\;SI&:6QE($A2968],T0B4VAE970Q."YH=&UL(B\^
M#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T,3DN:'1M;"(O/@T*(#QO.D9I;&4@
M2%)E9CTS1")3:&5E=#(P+FAT;6PB+SX-"B`\;SI&:6QE($A2968],T0B4VAE
M970R,2YH=&UL(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T,C(N:'1M;"(O
M/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#(S+FAT;6PB+SX-"B`\;SI&:6QE
M($A2968],T0B4VAE970R-"YH=&UL(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H
M965T,C4N:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3:&5E=#(V+FAT;6PB
M+SX-"B`\;SI&:6QE($A2968],T0B4VAE970R-RYH=&UL(B\^#0H@/&\Z1FEL
M92!(4F5F/3-$(E-H965T,C@N:'1M;"(O/@T*(#QO.D9I;&4@2%)E9CTS1")3
M:&5E=#(Y+FAT;6PB+SX-"B`\;SI&:6QE($A2968],T0B4VAE970S,"YH=&UL
M(B\^#0H@/&\Z1FEL92!(4F5F/3-$(E-H965T,S$N:'1M;"(O/@T*/"]X;6P^
M#0HM+2TM+2T]7TYE>'1087)T7S0P-3)C,3,R7SAC,V)?-#!E.5\X83,T7V-B
..-S4V.3!C-&)F9BTM#0H`
`
end

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>24
<FILENAME>R29.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>LEGAL PROCEEDINGS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LegalMattersAndContingenciesTextBlock', window );">LEGAL PROCEEDINGS</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 23 &#x2013; LEGAL PROCEEDINGS</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Lock-up Agreement</b></p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company settled litigation in connection with 5,250,000 shares
of the Company&#x2019;s Common Stock (the &#x201C;Shares&#x201D;)
pledged as collateral for certain loans from War Chest Capital
Multi-Strategy Fund LLC, War Chest Capital Partners, LLC and/or a
War Chest related entity (collectively, &#x201C;War Chest&#x201D;) to
Top King Group Limited (&#x201C;Top King&#x201D;), Billion Gold Group
Limited (&#x201C;Billion Gold&#x201D;), and Topgood International
Limited (&#x201C;Topgood&#x201D;) (collectively, the
&#x201C;Holders&#x201D;).</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In connection with the Amendment Agreement dated January 24, 2009
by and among the Company, SCHC, China Finance, Inc., Shenzhen Hua
Yin Guaranty and Investment Limited Liability Corporation (the
&#x201C;Shenzhen Hua Yin&#x201D;) and the Holders, the Company
entered into a Lock-up Agreement dated as of May 10, 2009 (the
&#x201C;Lock-up Agreement&#x201D;) with the Holders and the following
shareholders of the Company: Ming Yang, the Company&#x2019;s
Chairman, Wenxiang Yu, the wife of Mr. Yang, Zhi Yang, the son of
Mr. Yang and Ms. Yu and Shandong Haoyuan Industry Group Ltd., of
which Mr. Yang is the controlling shareholder, chief executive
officer and a director (each a &#x201C;Shareholder&#x201D; and
collectively, the &#x201C;Shareholders&#x201D;).</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Under the Lock-up Agreement, the Holders and Shareholders agreed
that they have not and will not sell in a public transaction on the
Over the Counter Bulletin Board or on a national stock exchange, as
the case may be, any shares of the Company&#x2019;s common stock
that the Holders and Shareholders presently own or may acquire on
or after May 10, 2009 (the &#x201C;Lock-Up Shares&#x201D;) during the
period commencing on May 10, 2009 and expiring on March 9, 2011
(the &#x201C;Lock-up Period&#x201D;). However, each Holder and
Shareholder has a right, solely in a private transaction, to
assign, trade, transfer, hypothecate, or pledge the Lock-Up Shares,
provided that in the case of a proposed private transaction by a
Holder: (i) the Holder complies with the provision of a right of
first refusal; and (ii) the transferee in such private transaction,
agrees to enter into the Lock-up Agreement prior to the Lock-Up
Shares being transferred to them.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In addition, subject to compliance with Rule 144 under the
Securities Act of 1933 (&#x201C;Rule 144&#x201D;), each Holder
further agreed in each month of the next twelve months following
the Lock-up Period not to transfer shares of the Company&#x2019;s
common stock in an amount greater than two percent (2%) of the
total shares of the Company&#x2019;s common stock issued and
outstanding in a public transaction, and each Shareholder further
agreed in each month of the next twelve months following the
Lock-up Period not to transfer shares of the Company&#x2019;s common
stock in an amount greater than one percent (1%) of the total
shares of Common Stock issued and outstanding of the Company.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In March of 2010, the Company&#x2019;s legal counsel was contacted
by the Holders&#x2019; legal counsel with a request that the Holders
be allowed to pledge the Shares to War Chest as part of a loan
transaction (the &#x201C;Loan&#x201D;). On March 11, 2010, War
Chest&#x2019;s legal counsel provided a letter confirming that War
Chest agreed to abide by the terms of the Lock-up Agreement with
respect to the Shares. The Company believes that on or about March
17, 2010 the Shares were transferred from the name of the Holders
to War Chest as collateral for the Loans.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Based on a Form 3 filed by HAP Trading, LLC (&#x201C;HAP&#x201D;)
with the Securities and Exchange Commission (&#x201C;SEC&#x201D;) on
November 10, 2010, the Company understood that, at least as of that
date, HAP held a European Call FLEX Option on the Shares
(&#x201C;Option&#x201D;). The Option permitted HAP to purchase a
total of 5,730,000 shares of Gulf Resources stock (representing
approximately 15% of the total outstanding shares of such stock)
for $0.125 each. Based on discussions with War Chest&#x2019;s legal
counsel, the Company was informed that War Chest had used the
Shares to create the Option.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
After seeking&#x2014;and not receiving&#x2014;written assurances from
War Chest that it did not intend to violate the Lockup Agreement,
the Company commenced a litigation against War Chest and HAP by
filing a Summons and Complaint in the Supreme Court of the State of
New York, New York County, on January 20, 2011. The Summons and
Complaint alleges that the Shares are subject to the Lockup
Agreement and that War Chest and HAP are bound by the terms of the
Lockup Agreement. The lawsuit seeks a court order prohibiting the
sale or transfer of the Shares in violation of the Lockup
Agreement, attorney&#x2019;s fees, and other relief.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
On January 26, 2011, HAP filed a Form 4 with the SEC disclosing
that it had exercised the Option on February 21, 2011 and had taken
possession of the Shares. On February 15, 2011, HAP filed an
additional Form 4/A disclosing that it had sold 280,000 shares of
Gulf Resources common stock on February 15, 2011 at $9.28 per
share, and an additional 372,809 shares at $9.358 in &#x201C;open
market stock sales during the period 01/26/2011 to
02/15/2011&#x201D;. The form indicates that as of February 15, 2011,
HAP was beneficial owner of only 4,917,046 shares of Gulf Resources
common stock, and it also indicates that HAP has purchased an
additional Call Option to purchase 699,900 shares of Gulf Resources
Common stock at $10 per share, exercisable from February 15, 2011
through April 15, 2011. On February 14, 2011 HAP filed a Motion to
Dismiss the Company&#x2019;s complaint as to HAP only.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
As of May 6, 2011, all parties to the litigation entered into a
settlement agreement resolving the litigation in its entirety. The
terms of the settlement are confidential. The parties have
fulfilled all necessary obligations under the settlement agreement,
and the litigation (including HAP&#x2019;s formerly pending motion)
has been dismissed by stipulation of all parties, with
prejudice.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Class Action</b></p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company and certain of its officers and directors (Ming Yang,
Xiaobin Liu, and Min Li, collectively, the &#x201C;Individual
Defendants&#x201D;) have been named as defendants in a putative
securities class action lawsuit alleging violations of the federal
securities laws.&#xA0;&#xA0;That action, which is now captioned
<i>Lewy, et al. v. Gulf Resources, Inc., et al.</i>, No. 11-cv-3722
ODW (MRWx), was filed on April 29, 2011 in the United States
District Court for the Central District of
California.&#xA0;&#xA0;The lead plaintiffs, who seek to represent a
class of all purchasers and acquirers of the Company&#x2019;s common
stock between March 16, 2009 and April 26, 2011 inclusive, filed an
amended complaint on September 12, 2011.&#xA0;&#xA0;Lead plaintiffs
assert claims for violations of Section 10(b) of the Securities
Exchange Act of 1934, and Rule 10b-5 thereunder.&#xA0;&#xA0;The
amended complaint alleges the defendants made false or misleading
statements in the Company&#x2019;s Annual Reports on Form 10-K for
the years ended December 31, 2008, 2009, and 2010, and in interim
quarterly reports by, among other things, overstating revenue and
net income and failing to disclose material related party
transactions and certain facts about the CEO&#x2019;s prior
employment at another company.&#xA0;&#xA0;The amended complaint
also asserts claims against the Individual Defendants for
violations of Section 20(a) of the Securities Exchange Act of 1934.
The amended complaint seeks damages in an unspecified amount. On
November 7, 2011, the Company filed a&#xA0;motion to&#xA0;dismiss
the amended complaint.&#xA0;On December 30, 2011, lead plaintiffs
filed an opposition to the Company&#x2019;s motion to dismiss the
amended complaint. The Company filed a reply in further support of
its motion to dismiss on February 6, 2012. In response to the
Company&#x2019;s reply in further support of its motion to dismiss,
lead plaintiffs filed an objection on February 17, 2012, to certain
documents filed by the Company in support of its motion to dismiss.
The Company opposed the objection on February 22, 2012, to which
lead plaintiffs replied in further support of their objection on
February 23, 2012. The Court has not yet ruled on the motion to
dismiss nor the objections raised by lead plaintiffs. The Company
intends to defend vigorously against the lawsuit.&#xA0;&#xA0;The
Company currently cannot estimate the amount or range of possible
losses from this litigation.&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The legal costs incurred for the year ended December 31, 2011 in
connection with the above legal cases amounted to $592,576, which
was included in the income statements as general and administrative
expenses.</p>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LegalMattersAndContingenciesTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LegalMattersAndContingenciesTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>25
<FILENAME>R28.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CAPITAL COMMITMENT AND OPERATING LEASE COMMITMENTS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsDisclosureTextBlock', window );">CAPITAL COMMITMENT AND OPERATING LEASE COMMITMENTS</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 22 &#x2013; CAPITAL COMMITMENT AND OPERATING LEASE
COMMITMENTS</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<font style="FONT: 10pt Times New Roman, Times, Serif">As of
December 31, 2011, the</font> <font style="FONT: 10pt Times New Roman, Times, Serif">Company has leased a
real property adjacent to Factory No. 1, with the related
production facility, channels and ducts, other production equipment
and the buildings located on the property, under capital lease. The
future minimum lease payments required under capital lease,
together with the present value of such payments, are included in
the table show below.</font></p>
<p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company has leased five pieces of land under non-cancelable
operating leases, which are fixed in rentals and expired through
December 2030, December 2040, February 2059, August 2059 and June
2060, respectively. The Company accounts for the leases as
operating leases.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company has no purchase commitment as of December 31, 2011.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The following table sets forth the Company&#x2019;s contractual
obligations as of December 31, 2011:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Capital Lease</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Operating Lease</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Purchase</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Obligations</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Obligations</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Obligations</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Payable within:</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-LEFT: 9pt; WIDTH: 55%">the next 12 months</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">297,899</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">590,037</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt">the next 13 to 24
months</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">297,898</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">640,837</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt">the next 25 to 36
months</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">297,899</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">645,177</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt">the next 37 to 48
months</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">297,898</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">649,681</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt">the next 49 to 60
months</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">297,899</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">654,316</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt; PADDING-LEFT: 9pt">thereafter</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
4,170,582</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
18,009,119</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">Total</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">$</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt">5,660,075</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
21,189,167</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Less: Amount
representing interest</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(2,433,775</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Present value
of net minimum lease payments</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
3,226,300</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Rental expenses related to operating leases of the Company amounted
to $583,123, $104,940 and $42,102 were charged to the income
statements for the years ended December 31, 2011, 2010 and 2009,
respectively.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.25)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.17)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 25<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-03.(a)(19))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 17<br><br> -Article 9<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 7<br><br> -Section 03<br><br> -Paragraph 19<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommitmentsDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>26
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>SUBSEQUENT EVENTS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">SUBSEQUENT EVENTS</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 24 &#x2013; SUBSEQUENT EVENTS</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Management has evaluated subsequent events from December 31, 2011
to the date which our financial statements have been issued and
were available to be issued, and has concluded that no material
subsequent events have occurred since December 31, 2011 that
required recognition or disclosure in our current year financial
statements. Subsequent events that may occur after the date of
issue of financial statements have not been evaluated.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventsTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SubsequentEventsTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>PARENT ONLY FINANCIAL INFORMATION<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock', window );">PARENT ONLY FINANCIAL INFORMATION</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
SCHEDULE I &#x2013; PARENT ONLY FINANCIAL INFORMATION</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The following presents condensed parent company only financial
information of Gulf Resources, Inc.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<u>Condensed Balance Sheets</u></p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6">As of December 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Unaudited</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Current Assets</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; WIDTH: 74%">
Prepayments and deposits</td>
<td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%">
$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%">
307,600</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; WIDTH: 1%">
&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%">
$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; WIDTH: 1%">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Total Current
Assets</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
307,600</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Non-Current Assets</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Interests in subsidiaries</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">192,636,852</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">139,936,042</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Amounts due from
group companies</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
52,494,771</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
54,372,933</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Total non-current
assets</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
245,131,623</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
194,308,975</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Total
Assets</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
245,439,223</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
194,308,975</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Liabilities and Stockholders&#x2019;
Equity</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Current Liabilities</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Other payables and accrued
expenses</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">1,036,513</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">507,917</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Amounts due to
group companies</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
1,289,954</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
1,115,864</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Total
Liabilities</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
2,326,467</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
1,623,781</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Stockholders&#x2019; Equity</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">PREFERRED STOCK; $0.001 par value;
1,000,000 shares authorized; none outstanding</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-&#xA0;</td>
<td style="TEXT-ALIGN: left"></td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">COMMON
STOCK; $0.0005 par value; 100,000,000 shares authorized; 34,745,342
and 34,735,912 shares issued; and 34,560,743 and 34,735,912 shares
outstanding as of December 31, 2011 and 2010, respectively</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">17,373</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">17,368</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Treasury stock; 184,599 shares as of December 31, 2011 at
cost</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(500,000</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Additional paid-in capital</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">74,107,979</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">66,626,584</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Retained earnings unappropriated</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">133,314,581</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">106,500,085</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Retained earnings appropriated</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">14,409,557</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">10,271,293</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Cumulative
translation adjustment</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
21,763,266</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
9,269,864</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Total
Stockholders&#x2019; Equity</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
243,112,756</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
192,685,194</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Total
Liabilities and Stockholders&#x2019; Equity</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
245,439,223</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
194,308,975</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<u>Condensed Statements of Income&#xA0;</u></p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10">Years Ended December 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2009</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Unaudited</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Unaudited</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">OPERATING (EXPENSES) INCOME</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt; WIDTH: 61%">General
and administrative expenses</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">(9,552,707</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">)</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">(2,957,467</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">)</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">(3,240,497</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 9pt">Other
operating income</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
300,000</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">TOTAL OPERATING
EXPENSES</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(9,252,707</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(2,957,467</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(3,240,497</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">OTHER EXPENSES</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 9pt">Interest
expense</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(1,941</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(764</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">TOTAL OTHER
EXPENSES</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(1,941</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(764</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">TOTAL EXPENSES</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(9,254,648</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(2,958,231</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(3,240,497</td>
<td style="TEXT-ALIGN: left">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Equity in net
income of subsidiaries</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
40,207,408</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
54,241,551</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
33,831,912</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">INCOME BEFORE TAXES</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">30,952,760</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">51,283,320</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">30,591,415</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">INCOME TAXES</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">NET INCOME</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
30,952,760</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
51,283,320</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
30,591,415</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<u>Condensed Statements of Cash Flows</u></p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10">Years Ended December 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2009</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Unaudited</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Unaudited</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">CASH FLOWS FROM OPERATING
ACTIVITIES</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 61%">Net income</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">30,952,760</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">51,283,320</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">30,591,415</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">
Adjustments to reconcile net income to net cash provided by
operating activities:</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Equity earnings
in unconsolidated subsidiaries</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(40,207,408</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(54,241,551</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(33,831,912</td>
<td style="TEXT-ALIGN: left">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Stock-based
compensation expense</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">7,481,400</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,282,428</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,022,240</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Changes in assets and
liabilities:</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0.25in">Prepayment and
deposits</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(307,600</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0.25in">Other
payables and accrued expenses</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
528,596</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
201,800</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(964,564</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">Net cash
used in operating activities</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(1,552,252</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(1,474,003</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(2,182,821</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">CASH FLOWS FROM FINANCING
ACTIVITIES</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Repurchase of common stock</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(500,000</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Proceeds from private placement</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,192,920</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">21,307,142</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Proceeds from exercising stock
options</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">18,000</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Advances from /
(to) group companies</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
2,052,252</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(736,917</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(19,124,299</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">Net cash
provided by financing activities</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
1,552,252</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
1,474,003</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
2,182,821</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">NET INCREASE IN CASH AND CASH
EQUIVALENTS</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">CASH AND CASH
EQUIVALENTS - BEGINNING OF YEAR</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">CASH AND CASH
EQUIVALENTS - END OF YEAR</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Notes:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0px"></td>
<td style="WIDTH: 0.5in">(i)</td>
<td style="TEXT-ALIGN: justify"><u>Basis of presentation</u></td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif">
In the condensed parent-company-only financial statements, the
Company&#x2019;s investment in subsidiaries is stated at cost plus
equity in undistributed earnings of subsidiaries since the date of
acquisition. The Company&#x2019;s share of net income of its
subsidiaries is included in condensed statements of income using
the equity method. These condensed parent-company-only financial
statements should be read in connection with the consolidated
financial statements and notes thereto.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif">
As of December 31, 2011, the Company itself has no purchase
commitment, capital commitment and operating lease commitment for
the condensed parent-company-only financial statements.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0px"></td>
<td style="WIDTH: 0.5in">(ii)</td>
<td style="TEXT-ALIGN: justify"><u>Restricted Net Assets</u></td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif">
Schedule I of Article 5-04 of Regulation S-X requires the condensed
financial information of registrant shall be filed when the
restricted net assets of consolidated subsidiaries exceed 25
percent of consolidated net assets as of the end of the most
recently completed fiscal year. For purposes of the above test,
restricted net assets of consolidated subsidiaries shall mean that
amount of the registrant&#x2019;s proportionate share of net assets
of consolidated subsidiaries (after intercompany eliminations)
which as of the end of the most recent fiscal year may not be
transferred to the parent company by subsidiaries in the form of
loans, advances or cash dividends without the consent of a third
party (i.e., lender, regulatory agency, foreign government,
etc.).</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif">
The condensed parent company financial statements have been
prepared in accordance with Rule 12-04, Schedule I of Regulation
S-X as the restricted net assets of the subsidiaries of Gulf
Resources, Inc. exceed 25% of the consolidated net assets of Gulf
Resources, Inc. The ability of the Company&#x2019;s Chinese
operating subsidiaries to pay dividends may be restricted due to
the foreign exchange control policies and availability of cash
balances of the Chinese operating subsidiaries. Because a
significant portion of the Company&#x2019;s operations and revenues
are conducted and generated in China, a significant portion of the
revenues being earned and currency received are denominated in RMB.
RMB is subject to the exchange control regulation in China, and, as
a result, the Company may be unable to distribute any dividends
outside of China due to PRC exchange control regulations that
restrict the Company&#x2019;s ability to convert RMB into US
Dollars.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 9<br><br> -Section 06<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 7<br><br> -Section 05<br><br> -Paragraph c<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph c<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 3<br><br> -Subparagraph (SX 210.12-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e24072-122690<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 24<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 12<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=d3e5283-111683<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<FILENAME>R8.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>ASSETS ACQUISITIONS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeasesOfLesseeDisclosureTextBlock', window );">ASSETS ACQUISITIONS</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 2 &#x2013; ASSETS ACQUISITIONS</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
On January 7, 2009, the Company&#xA0;acquired substantially all of
the assets owned by Qiufen Yuan, Han Wang and Yufen Zhang in
the&#xA0;Shouguang City Renjiazhuangzi Village North Area (the
&#x201C;Qiufen Yuan, Han Wang &amp; Yufen Zhang property&#x201D; or
&#x201C;Factory No. 7&#x201D;). The Qiufen Yuan, Han Wang and Yufen
Zhang property includes a 50-year land lease covering 1,611 acres
of real property, with the related production facility, the
pipelines, other production equipment, and the buildings located on
the property. The total purchase price for the acquired assets was
$10,615,000, consisting of $10,000,000 in cash and 375,000 shares
of the Company&#x2019;s Common Stock valued at $615,000 (fair
value).</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
On September 7, 2009, the Company acquired substantially all of the
assets owned by Yuliang Gao, Han Wang and Qing Yang in the
Shouguang City Yingli Township Beishan Village (the &#x201C;Yuliang
Gao, Han Wang &amp; Qing Yang property&#x201D; or &#x201C;Factory No.
8&#x201D;).&#xA0; Fengxia Yuan acted as Attorney-in-Fact for one of
the owners of Factory 8, Yuliang Gao, and entered into the
acquisition agreement relating to Factory 8 on behalf of Yuliang
Gao. The Yuliang Gao, Han Wang and Qing Yang property includes a
50-year land lease covering 2,723 acres of real property, with the
related production facility, the pipelines, other production
equipment, and the buildings located on the property. The total
purchase price for the acquired assets was $16,930,548, consisting
of $11,516,960 in cash and 1,057,342 shares of the Company&#x2019;s
Common Stock valued at $5,413,588 (fair value).</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
On June 7, 2010, the Company acquired substantially all of the
assets owned by Jinjin Li and Qiuzhen Wang in the Shouguang City
Yangkou Township Yangzhuang Village (the &#x201C;Jinjin Li and
Qiuzhen Wang property&#x201D; or &#x201C;Factory No.
9&#x201D;).&#xA0;Jinjin Li was acting individually and as
Attorney-in-Fact for four other owners of Factory 9, Yueliang Wang,
Kunming Tian, Gaoming Tian and Zhiqiang Wei. The Jinjin Li and
Qiuzhen Wang property includes a 50-year land lease covering 759
acres of real property, with the related production facility, the
pipelines, other production equipment, and the buildings located on
the property. The total purchase price for the acquired assets was
$13,905,719, consisting of $13,297,492 in cash and 70,560 shares of
the Company&#x2019;s Common Stock valued at $608,227 (fair
value).</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
On December 30, 2010, SCHC acquired substantially all of the assets
owned by the State-Operated Shouguang Qingshuibo Farm (the
&#x201C;Crude Salt Field&#x201D;).&#xA0;&#xA0;The Crude Salt Field
includes a 30-year land lease covering 568 acres of crude salt
field, as well as the related fixtures and facilities located on
the crude salt field. The total purchase price for the Crude Salt
Field was $11,023,000 in cash consideration.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Pursuant to the lease contract signed by SCHC on November 5, 2010
with State-Operated Shouguang Qingshuibo Farm (the
&#x201C;Lessor&#x201D;), the Company recognized in January 2011 (1) a
20-year capital lease of a real property adjacent to Factory No. 1,
with the related production facility, channels and ducts, other
production equipment and the buildings located on the property,
with an annual payment of RMB1,877,000 (approximately $295,365) up
to December 31, 2030 to the Lessor, aggregating $3,127,913 (the
present value of the minimum lease payments); and (2) a 20-year
land lease and rights to new extraction wells on which the
aforesaid real property, production facilities, channels and ducts,
other production equipment and the buildings are situated, with an
annual payment of RMB3,123,000 (approximately $495,651) up to
December 31, 2030 to the Lessor. The lease was accounted for under
FASB ASC 840-10-25 &#x201C;Leases &#x2013; Recognition&#x201D; and the
cost of $3,127,913 was included in property, plant equipment under
capital lease in the first quarter of 2011.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company also enhanced the new plant and machinery leased in the
first quarter of 2011 by making capital improvement in
reconstruction and renovation work at a cost of approximately
$3,050,400, which was recorded as buildings and plant and
machinery, for the operation of the aforesaid real property,
production facilities, channels and ducts, other production
equipment and the buildings located on the property.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In the second quarter of 2011, the Company carried out enhancement
projects to its existing bromine extraction and crude salt
production facilities. In particular, the Company incurred
reconstruction and renovation works at a cost of approximately
$12,379,153 for its crude salt fields in Factory No. 1, 5 to 9, and
at a cost of approximately $20,087,600 for its extraction wells and
transmission channels and ducts in Factory No. 1 to 9. The above
enhancement projects have estimated useful lives of 5 to 8 years
and are capitalized as buildings and plant and machinery.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
On December 22, 2011, the Company&#xA0;acquired substantially all
of the assets owned by Liangcai Zhang in the&#xA0;Shouguang City
Yangkou Township Area (the &#x201C;Liangcai Zhang property&#x201D; or
&#x201C;Factory No. 10&#x201D;). The Liangcai Zhang property includes
a 10-year land lease covering 1,700 acres of real property, with
the related production facility, the wells, pipelines, other
production equipment, and the buildings located on the property.
The total purchase price for the acquired assets was RMB63 million
(approximately $9,998,730) in cash. The Company expected to resume
production with the newly acquired assets by the end of first
quarter 2012 after repair and adjustments. A rental agreement was
subsequently signed in February 2012 with the State-Operated
Shandong Caiyangzi Saltworks for the lease of the parcel of land on
which the aforesaid real property, production facilities, the
wells, pipelines, other production equipment, and the buildings are
situated, with an annual payment of RMB688,000 (approximately
$109,192) up to December 31, 2021.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Each of the bromine factories and Crude Salt Field acquisitions
described above was not in operation when the Company acquired the
assets.&#xA0;&#xA0;The owners of each of the bromine factories did
not hold the proper license for the exploration and production of
bromine, and production at each of the assets acquired had
previously been halted by the government.&#xA0;With respect to
Factory No. 7, the assets had not been operational for twelve
months; with respect to Factory No. 8, the assets had not been
operational for thirteen months; with respect to Factory No. 9, the
assets had not been operational for six months; and with respect to
Factory No. 10, the assets had not been operational for more than
six months. The Crude Salt Field had not been in operation for six
months. The Company recorded the above transactions as purchase of
assets.</p>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeasesOfLesseeDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 840<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41499-112717<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 840<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 40<br><br> -Subparagraph (Note 1,3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 840<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 840<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41502-112717<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 840<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6452660&amp;loc=d3e36991-112694<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 460<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6851643&amp;loc=d3e12069-110248<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 13<br><br> -Paragraph 16<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LeasesOfLesseeDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>29
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EMQAG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current Assets</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Cash', window );">Cash</a></td>
        <td class="nump">$ 78,576,060<span></span></td>
        <td class="nump">$ 68,494,480<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable</a></td>
        <td class="nump">21,919,828<span></span></td>
        <td class="nump">21,542,229<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories</a></td>
        <td class="nump">4,437,972<span></span></td>
        <td class="nump">2,679,899<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepayments and deposits</a></td>
        <td class="nump">307,600<span></span></td>
        <td class="nump">939,940<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherPrepaidExpenseCurrent', window );">Prepaid land leases</a></td>
        <td class="nump">46,582<span></span></td>
        <td class="nump">42,761<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetCurrent', window );">Deferred tax assets</a></td>
        <td class="nump">228,702<span></span></td>
        <td class="nump">99,694<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total Current Assets</a></td>
        <td class="nump">105,516,744<span></span></td>
        <td class="nump">93,799,003<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsNoncurrentAbstract', window );"><strong>Non-Current Assets</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, plant and equipment, net</a></td>
        <td class="nump">147,200,740<span></span></td>
        <td class="nump">112,178,999<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet', window );">Property, plant and equipment under capital leases, net</a></td>
        <td class="nump">2,336,920<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseOtherNoncurrent', window );">Prepaid land leases, net of current portion</a></td>
        <td class="nump">763,814<span></span></td>
        <td class="nump">743,022<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetNoncurrent', window );">Deferred tax assets</a></td>
        <td class="nump">2,509,481<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsNoncurrent', window );">Total non-current assets</a></td>
        <td class="nump">152,810,955<span></span></td>
        <td class="nump">112,922,021<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
        <td class="nump">258,327,699<span></span></td>
        <td class="nump">206,721,024<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current Liabilities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent', window );">Accounts payable and accrued expenses</a></td>
        <td class="nump">7,373,643<span></span></td>
        <td class="nump">6,419,735<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetentionPayable', window );">Retention payable</a></td>
        <td class="nump">556,450<span></span></td>
        <td class="nump">453,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsCurrent', window );">Capital lease obligation, current portion</a></td>
        <td class="nump">189,742<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxesPayableCurrent', window );">Taxes payable</a></td>
        <td class="nump">4,058,550<span></span></td>
        <td class="nump">7,163,095<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total Current Liabilities</a></td>
        <td class="nump">12,178,385<span></span></td>
        <td class="nump">14,035,830<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesNoncurrentAbstract', window );"><strong>Non-Current Liabilities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsNoncurrent', window );">Capital lease obligation, net of current portion</a></td>
        <td class="nump">3,036,558<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total Liabilities</a></td>
        <td class="nump">15,214,943<span></span></td>
        <td class="nump">14,035,830<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders' Equity</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">PREFERRED STOCK; $0.001 par value; 1,000,000 shares authorized; none outstanding</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">COMMON STOCK; $0.0005 par value; 100,000,000 shares authorized; 34,745,342 and 34,735,912 shares issued; and 34,560,743 and 34,735,912 shares outstanding as of December 31, 2011 and 2010, respectively</a></td>
        <td class="nump">17,373<span></span></td>
        <td class="nump">17,368<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValue', window );">Treasury stock; 184,599 shares as of December 31, 2011 at cost</a></td>
        <td class="num">(500,000)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
        <td class="nump">74,107,979<span></span></td>
        <td class="nump">66,626,584<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsUnappropriated', window );">Retained earnings unappropriated</a></td>
        <td class="nump">133,314,581<span></span></td>
        <td class="nump">106,500,085<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAppropriated', window );">Retained earnings appropriated</a></td>
        <td class="nump">14,409,557<span></span></td>
        <td class="nump">10,271,293<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax', window );">Cumulative translation adjustment</a></td>
        <td class="nump">21,763,266<span></span></td>
        <td class="nump">9,269,864<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Stockholders' Equity</a></td>
        <td class="nump">243,112,756<span></span></td>
        <td class="nump">192,685,194<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total Liabilities and Stockholders' Equity</a></td>
        <td class="nump">$ 258,327,699<span></span></td>
        <td class="nump">$ 206,721,024<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3-4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsReceivableNetCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 830<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 12<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32022-110900<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 130<br><br><br><br> -Paragraph 17, 18, 19, 22, 23, 24, 25, 26<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e653-108580<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 133<br><br><br><br> -Paragraph 45<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e681-108580<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 830<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450520&amp;loc=d3e32583-110901<br><br><br><br><br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 52<br><br><br><br> -Paragraph 31<br><br><br><br> -Subparagraph a<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 52<br><br><br><br> -Paragraph 12, 13<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e637-108580<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdditionalPaidInCapital</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br> -Section S99<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Publisher FASB<br><br><br><br> -Paragraph 1<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Concepts (CON)<br><br><br><br> -Number 6<br><br><br><br> -Paragraph 25<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Assets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6801-107765<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Section 45<br><br><br><br> -SubTopic 10<br><br><br><br> -Topic 210<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Paragraph 1<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 9<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.10-17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsNoncurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsNoncurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeaseObligationsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid within one year (or one operating cycle, if longer) of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45023-112735<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 13<br><br><br><br> -Paragraph 7, 10, 13<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CapitalLeaseObligationsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeaseObligationsNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45023-112735<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 13<br><br><br><br> -Paragraph 7, 10, 13<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CapitalLeaseObligationsNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The total gross amount less the charge for the use of the long-lived depreciable assets subject to a lease meeting the criteria for capitalization.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Cash">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Unrestricted cash available for day-to-day operating needs, for an entity that has cash equivalents, but does not aggregate cash equivalents with cash on the balance sheet.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 7<br><br><br><br> -Footnote 1<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Cash</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward is presented as a reduction of the related deferred tax asset.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31928-109318<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 109<br><br><br><br> -Paragraph 41, 42, 43<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31958-109318<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31917-109318<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31931-109318<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsNetCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The noncurrent portion as of the balance sheet date of the aggregate carrying amount of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after the valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, is classified according to the expected reversal date of the temporary difference.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31928-109318<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 109<br><br><br><br> -Paragraph 41, 42, 43<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31958-109318<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31917-109318<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31931-109318<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsNetNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386567&amp;loc=d3e3927-108312<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Liabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 32<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesAndStockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesNoncurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesNoncurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherPrepaidExpenseCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of expenditures made, not otherwise specified in the taxonomy, in advance of the timing of recognition of expenses which are expected to be charged against earnings within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Section A<br><br><br><br> -Paragraph 4<br><br><br><br> -Chapter 3<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6787-107765<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (g)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherPrepaidExpenseCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 129<br><br><br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 5<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Section A<br><br><br><br> -Paragraph 4<br><br><br><br> -Chapter 3<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Section 45<br><br><br><br> -SubTopic 10<br><br><br><br> -Topic 210<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Paragraph 1<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseAndOtherAssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseOtherNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of amounts paid in advance which will be charged against earnings in periods after one year or beyond the operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -Subparagraph (g)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6812-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseOtherNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 5<br><br><br><br> -Subparagraph b, c<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAppropriated">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A segregation of retained earnings which is unavailable for dividend distribution. Includes also retained earnings appropriated for loss contingencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(3)(i))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6403732&amp;loc=d3e21332-112643<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6403732&amp;loc=d3e21346-112643<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 5<br><br><br><br> -Paragraph 15<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.23(4))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 24<br><br><br><br> -Subparagraph a(4)<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RetainedEarningsAppropriated</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsUnappropriated">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A segregation of retained earnings which is available for dividend distribution. Earnings not paid out as dividends but instead reinvested in the core business or used to pay off debt. Unappropriated profit is part of shareholder equity. Also called cumulative distributions or earned surplus or accumulated earnings or unappropriated profit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 24<br><br><br><br> -Subparagraph a(4)<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(3)(ii))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.23(4))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RetainedEarningsUnappropriated</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetentionPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amounts owed to vendors and subcontractors that have been withheld by the entity against the vendors and subcontractors performance under the contract. These amounts will be paid upon complying with certain contractual terms or upon satisfaction and release.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 910<br><br><br><br> -SubTopic 405<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6471548&amp;loc=d3e50610-109371<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RetentionPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph A3<br><br><br><br> -Appendix A<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6228006&amp;loc=d3e74512-122707<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TaxesPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TaxesPayableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name FASB Technical Bulletin (FTB)<br><br><br><br> -Number 85-6<br><br><br><br> -Paragraph 3<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>30
<FILENAME>R6.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EFTBI">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2009</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>CASH FLOWS FROM OPERATING ACTIVITIES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
        <td class="nump">$ 30,952,760<span></span></td>
        <td class="nump">$ 51,283,320<span></span></td>
        <td class="nump">$ 30,591,415<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Interest on capital lease obligation</a></td>
        <td class="nump">210,347<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfLeasedAsset', window );">Amortization of prepaid land leases</a></td>
        <td class="nump">424,467<span></span></td>
        <td class="nump">104,940<span></span></td>
        <td class="nump">57,985<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
        <td class="nump">17,697,439<span></span></td>
        <td class="nump">11,097,149<span></span></td>
        <td class="nump">7,199,658<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_InventoryWriteDownAndRecoveries', window );">Allowance/(Reversal of allowance) for obsolete and slow-moving inventories</a></td>
        <td class="nump">8,178<span></span></td>
        <td class="nump">1,915<span></span></td>
        <td class="num">(9,182)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Write-off / Impairment loss on property, plant and equipment</a></td>
        <td class="nump">7,570,566<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNoncashIncome', window );">Compensation income from local government for demolition of factory</a></td>
        <td class="num">(1,340,026)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossUnrealized', window );">Exchange loss on inter-company balances</a></td>
        <td class="nump">1,398,574<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnDispositionOfProperty', window );">Loss from disposal of property, plant and equipment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,289,407<span></span></td>
        <td class="nump">528,749<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred tax asset</a></td>
        <td class="num">(2,569,647)<span></span></td>
        <td class="num">(11,272)<span></span></td>
        <td class="num">(82,166)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense</a></td>
        <td class="nump">7,481,400<span></span></td>
        <td class="nump">1,282,428<span></span></td>
        <td class="nump">2,022,240<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in assets and liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivable</a></td>
        <td class="nump">995,713<span></span></td>
        <td class="num">(6,016,376)<span></span></td>
        <td class="num">(3,283,341)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventories</a></td>
        <td class="num">(1,621,118)<span></span></td>
        <td class="num">(1,970,745)<span></span></td>
        <td class="num">(222,749)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepayment and deposits</a></td>
        <td class="nump">648,734<span></span></td>
        <td class="num">(685,266)<span></span></td>
        <td class="num">(3,920)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherReceivables', window );">Other receivables</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,307<span></span></td>
        <td class="nump">353<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued expenses</a></td>
        <td class="nump">551,636<span></span></td>
        <td class="nump">429,441<span></span></td>
        <td class="nump">1,075,519<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInRetainagePayable', window );">Retention payable</a></td>
        <td class="nump">98,174<span></span></td>
        <td class="num">(221,805)<span></span></td>
        <td class="nump">659,745<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,190)<span></span></td>
        <td class="nump">1,190<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedTaxesPayable', window );">Taxes payable</a></td>
        <td class="num">(3,459,768)<span></span></td>
        <td class="nump">1,415,198<span></span></td>
        <td class="nump">1,284,882<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
        <td class="nump">59,047,429<span></span></td>
        <td class="nump">57,999,451<span></span></td>
        <td class="nump">39,820,378<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>CASH FLOWS USED IN INVESTING ACTIVITIES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireOtherProductiveAssets', window );">Additions of prepaid land leases</a></td>
        <td class="num">(406,380)<span></span></td>
        <td class="num">(100,315)<span></span></td>
        <td class="num">(72,411)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForProceedsFromOtherInvestingActivities', window );">Compensation received for demolition of factory</a></td>
        <td class="nump">1,340,026<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment', window );">Proceeds from sales of property, plant and equipment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">479,260<span></span></td>
        <td class="nump">704,767<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchase of property, plant and equipment</a></td>
        <td class="num">(52,907,374)<span></span></td>
        <td class="num">(39,463,457)<span></span></td>
        <td class="num">(38,876,657)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
        <td class="num">(51,973,728)<span></span></td>
        <td class="num">(39,084,512)<span></span></td>
        <td class="num">(38,244,301)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>CASH FLOWS FROM FINANCING ACTIVITIES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfNotesPayable', window );">Repayment of notes payable</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,650,000)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities', window );">Repayment of stockholder's notes payable</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(50,000)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfCommonStock', window );">Repurchase of common stock</a></td>
        <td class="num">(500,000)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_RepaymentsOfCapitalLeaseObligations', window );">Repayment of capital lease obligation</a></td>
        <td class="num">(288,739)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfPrivatePlacement', window );">Proceeds from private placement</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,192,919<span></span></td>
        <td class="nump">21,307,142<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Proceeds from exercising stock options</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">18,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfDebt', window );">Repayment of loan payable</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(4,031,775)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt', window );">Advances (to)/from related parties</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(852,067)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfRelatedPartyDebt', window );">Repayment to related parties</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,649,837)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash (used in)/provided by financing activities</a></td>
        <td class="num">(788,739)<span></span></td>
        <td class="nump">2,210,919<span></span></td>
        <td class="nump">13,073,463<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents', window );">EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS</a></td>
        <td class="nump">3,796,618<span></span></td>
        <td class="nump">1,831,887<span></span></td>
        <td class="nump">9,151<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashPeriodIncreaseDecrease', window );">NET INCREASE IN CASH AND CASH EQUIVALENTS</a></td>
        <td class="nump">10,081,580<span></span></td>
        <td class="nump">22,957,745<span></span></td>
        <td class="nump">14,658,691<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Cash', window );">CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR</a></td>
        <td class="nump">68,494,480<span></span></td>
        <td class="nump">45,536,735<span></span></td>
        <td class="nump">30,878,044<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Cash', window );">CASH AND CASH EQUIVALENTS - END OF YEAR</a></td>
        <td class="nump">78,576,060<span></span></td>
        <td class="nump">68,494,480<span></span></td>
        <td class="nump">45,536,735<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Cash paid during the year for:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaid', window );">Income taxes</a></td>
        <td class="nump">18,794,465<span></span></td>
        <td class="nump">16,917,029<span></span></td>
        <td class="nump">10,514,697<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest paid</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsIncurred', window );">Inception capital lease obligation for acquiring property, plant and equipment</a></td>
        <td class="nump">3,127,913<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Stock Option</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssued1', window );">Issuance of common stock</a></td>
        <td class="nump">5<span></span></td>
        <td class="nump">48<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Warrant</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssued1', window );">Issuance of common stock</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">8<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Settlement of Stockholder's Notes Payable</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssued1', window );">Issuance of common stock</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">21,287,493<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Property Plant and Equipment</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssued1', window );">Issuance of common stock</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 608,227<span></span></td>
        <td class="nump">$ 6,028,588<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_InventoryWriteDownAndRecoveries">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Inventory Write-Down and Recoveries</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_InventoryWriteDownAndRecoveries</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_RepaymentsOfCapitalLeaseObligations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for the obligation for lease meeting the criteria for capitalization (includes both long and short term portions).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_RepaymentsOfCapitalLeaseObligations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The component of interest expense comprised of the periodic charge against earnings over the life of the financing arrangement to which such costs relate. Alternate captions include Noncash Interest Expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.8)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 8<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 8<br><br> -Article 9<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AmortizationOfFinancingCosts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfLeasedAsset">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The expense charged against earnings for the periodic recognition of capitalized leases. This element may apply to energy companies that lease mineral producing properties and to other enterprises that capitalize property, plant, or equipment obtained through capital leases.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 840<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45031-112735<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AmortizationOfLeasedAsset</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6390789&amp;loc=d3e2420-110228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 45, 46, 47<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetImpairmentCharges</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeaseObligationsIncurred">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase during the period in capital lease obligations due to entering into new capital leases.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 32<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CapitalLeaseObligationsIncurred</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Cash">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Unrestricted cash available for day-to-day operating needs, for an entity that has cash equivalents, but does not aggregate cash equivalents with cash on the balance sheet.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 7<br><br> -Footnote 1<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Cash</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) in cash, excluding cash equivalents, for an entity that has cash equivalents, but does not aggregate cash equivalents with cash on the balance sheet. For example, an entity that aggregates cash equivalents with investments discloses the balance of cash excluding cash equivalents on the balance sheet and the change in cash excluding cash equivalents on the statement of cash flows. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Deferred Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 6<br><br> -Section I<br><br> -Subsection 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 45<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 289<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6889476&amp;loc=d3e330036-122817<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredIncomeTaxExpenseBenefit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DepreciationAndAmortization</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The effect of exchange rate changes on cash balances held in foreign currencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 25<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 230<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&amp;loc=d3e33268-110906<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossUnrealized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate unrealized foreign currency transaction gain (loss) (pretax) included in determining net income for the reporting period. Represents the aggregate of gains (losses) on transactions that are unsettled as of the balance sheet date, which is therefore an adjustment to reconcile income (loss) from continuing operations to net cash provided by or used in continuing operations. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting entity's financial statements. For certain entities, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30700-110894<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30690-110894<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 52<br><br> -Paragraph 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ForeignCurrencyTransactionGainLossUnrealized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDispositionOfProperty">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The gains (losses) included in results of operations resulting from the sale or disposal of property, plant and equipment, which do not qualify for treatment as discontinued operations. This item does not include any gain (loss) recognized on the sale of oil and gas property or timber property.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6390789&amp;loc=d3e2443-110228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 37, 41, 42, 43, 45<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391110&amp;loc=d3e2941-110230<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GainLossOnDispositionOfProperty</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (f)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 27<br><br> -Subparagraph f<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxesPaid</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccountsReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedTaxesPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period of all taxes owed but not paid, including income, property and other taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccruedTaxesPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInInventories</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherReceivables">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other amounts due to the reporting entity, which are not otherwise defined in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOtherReceivables</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets,or  income taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInRetainagePayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in retainage obligations due by the reporting entity that are payable within one year (or one business cycle).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInRetainagePayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid for interest during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestPaid</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from financing activity for the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from investing activity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e565-108580<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A7<br><br> -Appendix A<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 10, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 87-21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 19<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28, 29, 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNoncashIncome">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Other income or gains included in net income that result in no cash inflows or outflows in the period and are not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherNoncashIncome</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForProceedsFromOtherInvestingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3095-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3098-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsForProceedsFromOtherInvestingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRepurchaseOfCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow to reacquire common stock during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsForRepurchaseOfCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireOtherProductiveAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for acquisition of or capital improvements on other tangible or intangible assets not otherwise defined in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 17<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquireOtherProductiveAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 17<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfPrivatePlacement">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the amount received from entity's raising of capital via private rather than public placement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromIssuanceOfPrivatePlacement</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3095-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18, 19, 20<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3098-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromPaymentsForOtherFinancingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRepaymentsOfDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromRepaymentsOfDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from the proceeds and repayments made on the long-term borrowing from related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and such forth. Alternate caption: Proceeds from (Payments for) Advances from Affiliates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3179-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 16<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (j)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph A240<br><br> -Subparagraph i<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromStockOptionsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfNotesPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for a borrowing supported by a written promise to pay an obligation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RepaymentsOfNotesPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfRelatedPartyDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for the payment of a long-term borrowing made from a related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Payments for Advances from Affiliates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RepaymentsOfRelatedPartyDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssued1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The fair value of stock issued in noncash financing activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 32<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssued1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalCashFlowInformationAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SupplementalCashFlowInformationAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>31
<FILENAME>0001193805-12-000502-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001193805-12-000502-xbrl.zip
M4$L#!!0````(`$&);T#'_'@9<<H``/-^!P`1`!P`9W5R92TR,#$Q,3(S,2YX
M;6Q55`D``ZI:8D^J6F)/=7@+``$$)0X```0Y`0``[%UM4^-(DOY.!/]!QTU,
MW$5@4+U(JJ*G9X/FI9>;;F"!V9G>+QU"+H-V9,DKR33>7W]9D@TE6;)5QI(]
MU]<11(,M53U9F96OE=)/?WD>!L:3B!,_"M_OH0-SSQ"A%_7]\.']WCCIN8GG
M^WM&DKIAWPVB4+S?FXAD[R\_[^[\]!^]GG%V^O'XQK@*`S\4QD7OLTAC_]GX
MW1.!B-T4/@KEK9XP3B-O/!1ANF_<NXGH&U%H_/[AYI.!#Y!A/*;IZ.CP\-NW
M;P>B_^#&O2@;\,"+AH=&KS>;[.\YSB/#L`\0.6#*5S?1..P?&9Z-*+&(U\.V
MZ?;H@-_WW`&V>\01U#*%31U^K]QU$@LWA1&-/F`],K")<,\D/83OD'5$T1&Q
M_Z%>'8TFL?_PF!K_Y?TW7&Q:/;@#%=9@'RCV#HSC(#!NY*6)<2,2$3^)_L%T
MI.?[.#!@U</D_9Y"M_SX((H?#F%<<NA/EVTOO_)(?ALLN!ZF_D.NZ\OU\H/"
M]=](=C7BG!]FW\XN]9.(8N0L`I-?\3)VXE>-#)>BP]\_?[KU'L70[94I\(!!
M:3QYN3.;(A'>P4/T=#C]\E`N9\]$/8)FM_6%7WT+?%%Q^<,X%@5P#^-@$(LD
M&L>>2'Q@C1=FMR'\>I,?/HDDK9XF_ZYBIC`*P_&P>M7Z:7R83D;B$"[JP54B
M]KV7^Y;?5+P!-N&#ZXY>;AJXR7UVP_2+"FSPC1PIJ;PG^Z;B)@FD7UKL*5_M
MP_S+PJ5IY:56?FFZ!Z)N&)FP!T=))A(W8F!DDG<D(;S?2_SA*)#RD7WFQEX<
M!:*9C&=W/,9B\'Y/<KPWX^C!<])?80LTWUV'.5D@?$=G8>JGDY-H.(S"VS3R
M_KA]=$'2KL9IIBQ!@1I>%*;B.;V1.$44?+T^8XR0'OP#N&;O%],TV=?;N].O
MYE>I>DQB\J^@@,>AG]^39"/N&7WA^4,W`'Y>7)[O_4RH99L.)3\=-L-1QGP]
MO@]\[SR(W%03(C)M8A8@3G7#UU]O3U6<YM[/ED68B;&EHE1FSD%-9?@H`_X8
M!7W0\&?_&L.E>LA,)MG?%!FF-L?8_.FP?OHBO!,W>6P1$#&9PTQ*7P')"=M9
MH:_4PMRTGBG%F%O-X&%,*&+-EVO]6"FV2#.LB"&'VI8&;]>V@RM@6PPMW\^8
M<N1@A!3V+]W-+2YU$7/]4B-,+?Z&=;Y(DC$X@MNRQ#F<EE?7(C9GS5:7F`ZV
M[4WN.@NV7;-=1PDE&&DHU#=CY1KJ%0$ZAKG3KL+7043!.-H.L5I5^'QEA6_9
M#G=LC;V]?JR-%;[%F<DP>XLB6EWAS\-NI(W`@:/@2MD;4?C+,"_81PYV4-<*
MO[TE;D7AE^$V5_@V=1`XS/8&=YV&PD<6MY&&EW4J!B*.1?_.?3Y.$I$FER(]
M&<,GH6X,8FKH6<YMKGC5"T`4T7[RW7L_\%-?).V#1-0D%B.*=9J?O@CO1J3P
MF1^%U^[$O0]$6^"RG00B#+>_@BM/7H1V'8N1Z_?/GD<B3,1QV+]*'T6<KW8'
M_":<4P5K`S1%^,=>EHI*;H0G_"=)7B=RBI$%UADK1FP1D!+DC)HVP9DVN,XF
M5C92/F>MNO^[&XQ;$\K,$!'5,2[/7,1U$3[!FD7Q!!:PS54"GXEQA8/JO&TY
M(!4(:^TAN)N@[U=Q.6`7Y7I3N?AXG#Y&L?]O77O>'#$RLW^%S;P`1M6FZ$+A
M.)R;)BEOC3JU[?JAZ)^Y<0B+G!R/1G$TBGTW7<,J+M@M)KAMF).""J\%4H0,
MEE(D4T7?_FHZR"8F5[R*BND7F9M,NU]&H=<^4DI,C.L,30G'\MW4A@)X3ORC
MT`_>[Z7Q^#5S71333M8*@?!A;&)4WB1U*Z1HIFLWOHIO4RF8F6J_%G&V8NN$
M^W4DXJ_S2HCN_6P>P#!6I<JL`U9:Y7[?EZZ2&UR#=%R$)^[(3]V@Q<6V;1O;
M%E-M=36&(M!,8HM"W/YVI]BQ%:&HQU#MHTWU`GAU\`G(>+]3K]VFB!<R.!JP
M:H,-N.FM0=U;7;ME:!8ILQ;\OL5:K-/%0AS;S$)J0-E)"F2M3EY5TJ/(Q`VJ
M7)*K7%3G\S53NM?@RX@XG5P';IB"#$O&C.31DW8#`#!SR($(@*OHZY$L=@U_
M#=VNG$/;DG=;]=YA$<L2`>\L+E`C@P4H:E7MIA(Z<[9L/!P'<F$S\P>4C&+Q
M"+;/?Q(7H1<-Q:<H2<ZC6/@/86X^O,E=[(9)D)U<.N[_<YRD4YFZ&H##W&:T
M@VW.;%JP>>N&_]8ZC)X19Y13RE116GL=9@9HA3K,?.36=DIX'FSC0DR%)NFN
M$E.!NV&98/6T2`MKW;P20W0JPVMU0UI8XC8J,7-P-2HQ<S%4Y]NN>25F3B<O
M+VUG\=\GX2;BZC[P'S)%O'HJ`&D=="*V9:FIVV5@VJHBZ:#&F#FF(K^-RTAW
M,=`UCB<K!T<Z**V24S0_>2,Y:'\Y$>,.Q4MEH)W"G!90Z=`3U:"U7)AK#"Y3
MK)9E4ZMQ8:Y*:#O9\]@R.65H\?99D"Q=<SE13UTYMKDEY42M)4<<<8;9?'*J
MI7*BGCPP@AU;C9-;*"=J[7.'.*32/5EO.5$'$Z7$X8ZB)3LI)\XC7'H$?</E
MQ,:(-U9.U))$T[*0[="Y4GO;]40MD)2:W+*<S=03M3:1:3%+-9&=UA-UD#HV
M88C669H.ZXGU^ZG5>J*6_%F8(2F!FZLG+H2[]?5$+<&DR`1#I!KK3NN)6ML=
M@G;%8FZ^GJBUT."#V*I!W99ZXAM]NZ[KB4O@+M9B:BB:?'`#V<!Z^RA$FBN8
M#Y//[C^C^"1PDZ1=]P\38G-L5@?)RY&M.3NEA9P2N-RQ-,XQKR<]J>&[.M0B
M="NJI*L8DJVKDNHYCPXV(7(H..(;J9)JH2:$()GNWG255#?<Z;A*JNG&(<I5
MBU=;)2VD,G/LK:T;HY9JOBJFWK8*KEYF""(-K+;%;&,)5\MO8I9CFW:[)5RT
M>@EW+EANO98T![9Y"7=>S758PIW'W;33:^545`MKK5'"=30*^VOUD58HX:[B
M,;4I&]QVF+XVWZ1DE!#72T:O7,GK7&,T+Y7/IP>Z!]NX5#YO_):!?;5MR5U4
MD_C(!"E[II4TG6`W,ZMX(V"XQ$_%K8B??$\ZX7[4OQ%>]!!FHVC&ML2V=)O,
MP2I2]91(V\3,Q1>>$/WD/(Z&U^XDFQ:<B,S'./=#B%]ASQU[J?^DZ6BNL!+Y
MCBI$'#K8Z@F36D]&XE>#Z]A_`A\*8AA/#+4R12O0@^7#(1#%U135@ZHGY-8-
MLNMK(K%6J7%,ZMA.-2U+<!4)DB5-\/W@ZB>_+_H?)K^"'%^$%]DCO#J4-L(P
MI40-T)LCFR\VYELV]\0O`#58K7;YP4RF)JGK,)2$:;J-0+-XP)U83+.O47\L
M:1.Z9>55Y`A3]0$OS1"5U]N3\9XX%?G_%^%\X;Q5&@B&H2A25W\YHCD:@$O3
M2I>OX2&N`!>9%J(V=PIXU=DKJ@(5`695<.EZ67`9]A>&FKDE*B]2N]L;,6*I
M38I=457.A3V)<-RR*D/R!++-3:;FO?)YRZY^DLK\_K3.TBXJFUDV9;@0CA2G
M;V07KD;R$:7=V07"&3:)PY::A0I@<X%56=CT<T>K4&!2TV&XF%.L0U*EE;),
M$ICU$P#IAV,@<4IK%"8?Q``VC*(_/OMA%(-+/C,XP-_B*+G'_EFDCW*SS*Q4
MNTRDR'$@9B9EC=<)9:5(2OKJ'\J^>KN.IXDQ5G/WU1B*.&<9\ED=XM0/QEKI
M^B9`:VHE&'38@>KZUX!IZ@8L*L:V;&D=RT*\B6.P"&.9SES^IFJS70(<4U5]
MI:FKSZJ^;)GI51]$*`9^N]YOCV&DI@B68"GE"X91G/K_SC;!U2`KUO8S/[-5
MR);#U4/*M2#FK.*KTFG9;%@<4?5I486Y2["B,)K9O_R:+J33)@Y6O-A:$&4?
M+!%N[#W"5CL%MRB(LJ"T"[R6":;85KVR!4CT<UJ_N3'XIZENCGD5M0!RX:CG
M7+7AU2<U;L1H&@->#6Y$5N*Z=N-T<BKNV]8AENRLKTYI+$+5P`Q)A:X>8VR/
MD#R#CAEE#"^Q.V50\\&!I#4+'-K=QAB"4>:@8F3P,O>RY<TBN=>XNNTTD446
M+6L9S#+PIV-Q%RD"M<JIM95"1&XN(J,>UI($TF:2D80QQ[;5>FUS8!6%CEQ%
MG8YC,"1Y5)^ERK.1DDRUM1PJFYA9K-PJV@#5,FG+C[^X#Z)U-22IL+A#K452
M5H:S.`*!@,7WMB/^R*"4O5\(J3W?G6:*5'>NW?PIXMQ6FS,7`"GE]8J^4NL.
M)03A")M,\7\J$-1D13L,)6`$1@EG%=G114'$;T*^.`9\]B>@Z4%<CH?W(KX:
MS!6LUR7%\U*;^>PV![NOM"1HP5JF/J;'LF?!565'7<O).+S0;#4!6%(R@X'P
MP-<X>_8>W?!!W(#%NPIE?@_NDO])._'D!JVGJ#BR%`=(!U8YNMF0^XQLRADI
M]!<U=9FS=&K'-8'<3Y;-!S97/<]:*-5)F#:*-8M/N\]+_:S)L.UL%L;8H0N3
M60J29@%>^T$=-8E,_BZ/ZN;%\B/H^=@-I!'M#_W03U)IK9XZ26U8A%(8[!7V
M$C"-C-$T;?J&8UVZYL@Q4:'0J`FL446HZW,I\A@'H38I),8:`JO7U9=1VD%V
M(-/3I7,U=2A*FP$\=>F@786G?C**\H#C]9!'RR>!,"MHGB5@<N3R'6-`G">[
M:_R![[7OB_<R&RA3II5S*[!N11"`8'QVXS]$5C.<NB@O'G$G)5DL/?(IV,:(
M%"I>NMM_B_U4G$;?9,`A#YC![F[]O`Y';(9]"0X%<5;`!^=0)C?JNY_/H_B3
M>'"#Z4L@5Z5CA8/G/4PMFTA/<'6X+10,5GFE5Y/RP29YTIB2M;%DK0II!4)Z
M"*Z5=>`%VFE)QFG:@K2&1)CN:79$"2Z<L6J,L-L$WPI-!0XJ'VYNG.K+./E:
M?+F+E+/R^2"ZC5<K<TGN>3+3R`T@-6?+I?B6?;,F*N`O^--^A@\9;=CV0>=>
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MC&/"'%[H`MU,^ZV>X#B<<VHM?RI#E^VW>A38A)-"'N3_0ONMGH+FA#!DSVF\
M/VW[K9X^P`S\`S4N[:[]=J47.F;'WZD"N%'[;?&T2,Z:=ITN3!Q4?J)#"<`F
M.H0UWZ;+:;,GAW36(*SI0%J%-K/N^H/U`@SY=..*ET$U.MJ_*-&Q\4A<&UQ+
MO<^:4D.YFF3LHOE9TU^5C_11FPVZ:'[6C#D1)TK0LXGN9TU];4+44W@8\_:T
M/VN^4YH4#/H;RZBM=`PW)VAZO`I9J-3TU&G'L%XP8V*+.A8O!C.==0SKF1Y,
M3&?1NFZN95C7A&Y[S[`6/813F]!M[AG63((QC,L/K-Z"EF'-O8)1Z3&&&^@9
M;B=H:K=G6/.E]R9WD)J.Z[)I6#-U8'(;JXU0734-ZSKE%F6T*J>[L:;A"@*J
M3^U2&U';7MZEM3U-PYJOB[<*CX_>]K9A3<$CB#&%=ZMW#J^O"U?3]Y3=,4[A
M41%==.$N`]EA%ZYF\.&82YZK4=N&N^:.5LUMZ(#94<*_;>IHU="5CD74VMV6
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MT6GDC:4DG/N)!QHRDX-S^$Q?N<U>*/SS^9>?#A<._3K[69CZZ>3O43`.4S>>
MG/N!B-\P\V64SUPY[.NLL!5D<N]V,KR/@M5G^_CKS5D^7V'`,G4WXB%+EL)N
M<U<X8ZE,]^G<N#F[O?KUYN3L=M^XN#PY4,DMSE-&,:WMWXB1K!4"UM1-W\+D
M+R)1)Z\>_A7$,0A"/Q.&P-5/][[,.@#A%OF\A1'+U&8</W%3\1#%^GG,E^F.
M/4\$,H$'MC`;4B6Y,$?=AOHBW/B-VTG^7K6A7H:>G_MN,GJ#H,DOBQ/*\>9G
MR7?T6=@_A45X&WT]A'ND1&5A^#EQA@MB-[@(^^+Y%_$&%LMGL3!F41L7Q+DX
M?'GVWT00_!)&W\);,)-1*/J96HW7I;AJAG]%,=UMKW+P9B;T5`[4#;_E0:36
M&^U-S.D&NX-?7X@+*G,<>X\PZM5`>?96J]277WZ]'$Z%1U-XI;-\$NDIR$L0
M)>#%WP'P#\%;J/CYQR!]U_>??GQ(W^WNR#]&1I).`O%^[^[L][O>\:>+CY='
MAN29/YB\,SX?WWR\@`_,40H_S^^,\ZO+NR,#R;_O_*%(C$OQS;B)AFZXGW^P
M;P"__,%>/L/EU=V9@;#QHSL<O?O/9T!"WADG5Y\_7UT:MW=7)[]("(>CKN!,
M81R;[[J=]^Y1&%*VW1!4:G8@H6]`L&&DN8-CI+[W!^BY)/><HH'A9P<FI)@`
M+F#X[@[\)N^X/+X]/?Z;\3&([MT`Y@B$EQIY><Q((V6=3]Y)/^KU[]-WAL@.
M14!8L[OCIMEH$>PV.9W\?9@/`O/\SS@4!C'W#2DX!]\'A\YF:V-<>6ET#\Q`
M6"Z`R?>SU9EQ+U]#8)\+*R6,013#SSC>W8G%$^Q:D;/+2$:!GQXHQ+S\=AP$
M1IZ+--RP;XPDV^6?ACN4#2YR1&`/7#3*]%UB0#2:@!*!*1]=@'<O@&5NIE6E
M$$5&+`:9$$B44Q"[.P44WP4#+T*Y#;S'"I[Y>=[,VL>6N0^:<;;^A7TV6S,7
M5CQ7VQES?\!H'S-GGW(BK\^>#)TQ[E/DAL;T]&5O>MYW=R=[M/__K_ATQ8EC
M+5OO?>-)FG'83ZGQ@XVRZ_>E6+OYX6/@1W8T#KPVN.A^8OS-'P]@!WP9`ZK=
MG;\"$WX#?9JQY$OVS3^D?OU^6'`K1JF0IVWJV8#V3<O9)Q05&;&[HUJ8`B.L
M?8K(OL780E;`XN_NR-7?!ZX`#[Z\,B+PY>\?W>@[8<3W-B\(WJGPEL@=WN<4
M[2.&%RO<%&SI*`8/7W[_`SNP3,4J^F'^K7P<C3&:/8_FP#C>W<E2(M&+_S*:
M/OW%^"9B:0EE)TDNIP5HX-ZXX=B-)[L[,@WXG<@G\.MX_`"C26ZQ(K<>9&XK
M]R6D2^-G3>-@^F*1I[438^#'0W!*C&]YC4!>.8MF@#MI!#&<Y`(N:WN897=G
M.LVK)\K?%7W;3`)"0TP+#XHLT`-FOJX8"`7(3.XKA?VI_YH#E(B!`G\X%'UY
MU"68'!@7+YR6?JRYGZ.IH0Z\W[ZDQ7.3QT`DR2L:Z03(J::T'Q2=^9F&M?89
M>U&O62AK3!WV@>O',]]Z1MGNS@^('"#[^Q&^;"7`3TX?C7\!2U+8WU)@ELGB
MA\B-P:L:YHIFQNT:\0.'W5JK^/UO>^_:U#B2)8!^=X3_0T9'=01U0]"2++^Z
M9SK"15'=S%0!"]3T]MZX42'L--:T+'GT@&)^_3WG9*:4LF5C@PW"]LSN%!@K
ME7GRO)_6D>,\%?WRYQ`1/_&;*,?$>JU,2$_O?MH$9.E$H%2]ENT5OA:GH(&)
M+ZCM2)9'P&,"=KN#:62\9@0_#>6V:31;BZ`,EZ,KI("?MMU>J`5]B=@_O.#?
M(%@^>P;[`FH5J*C_'7&AF!J@#'&A#8E?_YD&8U26KCT\`VA(V6^(5O7:_XV\
M_XBO<V]W;FT>?YASC=VFT36;^34"7Y^FEL5,.):Z1H,=`IU;1YUZ39%7B0Q`
MY@(V(-%G@=(T=D6$J9.<,!/Y>.*'#YS'NW67,>^'</KB75KE=VDX#?,95TDW
MV3AR;(U!EE^AO?@&W:*XF;FPGZ3?="KTNXR_=J8'T]@3/O$W[]NUIWV[O8O3
MZ]YG\O&>7G\Y.;MFO;./[/SBY+)W?7KV&_M\TKLZ`;&<_?UJ-P@#WS"$FU4O
M6>GQGJ",S.1J6$9.4'0.7!J_R9[U'D6:H%HQG_J/,!==FZ!@353UBCOX-UAA
MP@KXY/:QPH&=A4<,-G/O`?\6?DCI#YO(GHE`F$.WCWUZ'@SR@`?<%PP2_PQ[
M"#'WAFE?YZK*'`P/J6[=I)Z/[G+86]BGX+'D"6IO!DN#`<8+15Q)'.&(72-+
M&*8)4!G#$JMQ.A9_4IZ^&#9,PGU0M@#J:^$MIPUF)Y1>6>$TR?0PM9[!A.W:
M]],!*H:!4/D2*AV/1^$]N^%^>']4N+K5\)$^/#W[>(+7:QXUO>#MTH9N46FH
M-T1W_,3C4ES[B`?B?H(P..QCJUH?(5JO92U?Q*.P_/W(@_O`6QAZW^D*&,9>
M78EU_/N$KCL916%Z.])(RS8Q\J']ZL"OFO[>[!JY*=WLTFJH<Z([H05?!;R8
MB$@"&J'ZR5S9PBHS*<5>0:&</<".:`O3%Q]HEET_DY+HDX?[G^%^U0/26[Z'
M8>@#2Z)HI&!37*"J9'AS[&C,Y^@GJ>L##M_XWJWTJ<RYL9^K<F/RB.+=?YQ^
MO/X=ES5_7.$5#+B/'T]<K`3%Z#_]/G$'`_F[]K)(O>E?)Y?7I\>]S^JD-V&2
MA&/]JP.2!,5]BP^7_D(92%%@\PCV&.*6`VS40?)>RCGJ-?:4=ZUS,UE-9S6V
M<R$9T>JO^2F)-G7Y:JV+WL>/H$T??CB_OC[_`O@Z27Y8^N$/YY<?3RZS9V]\
M%ZP.6('%H>\-I&KQR%WEM+ZI7>Z/^':/.(<"/O2.__G;Y?G7LX^'Q^>?SR]_
M9M'MS0&H6(;=;!KP[_M?V!)44D;$/A^*7:D&3:BI>\'/ZV(2V?HK/QEA9X2G
M/;K<2_?GJ?)YEB8%L%@2OA+^*\+\?/()5);N!*Q_J<HTFS_2$ZBX!?Q[@BEX
M8]#51HOH7*E!/SX=&-D&Y"+O5KF#_&%;/&UWVT:GVWW&^Y<Z1.7.W>R:AMEH
M[]RY#S=SXM<11K^P&?*<(LD&>M!LIUZ;2YFOQ@D%Y76V@ZVW'-/HK$1.%3[,
M*C3RBJ)I96JPFT@-C59UJ6$5.51A!&HY3<-J[ZGAK8B)1AL)P^E4ES"V1DQT
MC5;'VH[#;*N8<+I(#2VSNM2P+6*BZ1@-J[4=AWE[8J+$Y[:`-B+N#A,>+3CE
MBWD:,Q#.1%^>OW9^H?6:`TJ,:30[]DHVX]OPUKX4#*V.@:G[EK6:BV4/1!V(
MJSDM-NE+?[H#4>W&/FK*_5QC4O4*UY@_^40_TOP%5_0IS5^H:;1:IF&VFVO:
MV)/P?<7'2[&2UF"#,+WQ^5RD7P2V%5?5T=W&@A[@&:W5W)-[**Z1:2QU^M<V
M9Z<YW&<>QS^S'A4Y8TJA3*##<+\G^]?ODM@XL`VGT3#:S^1&"@[O-P6[-8O_
M)1CV:VZO2GNI)*A>Q1<PR_<N].S;>BT<LH`G<W)[=TBL-`S;;AD-TWQ#LGGM
M^UE))WR=+59M/Y4%68'=_$1)F_GOKY[MNY'W7E*6.B:HBU$;LI2"*F*GDL15
MY7N68$[*%99=P)??-3L-P[(;!GMG@7;7=4Q*57_GV(9EVJ)(OC]RH]NL?`WK
M%<(Q-8^!-XJZ")6J_L#=*&8\P&J&DBH4+-2CY:D7`*IW6A+\-/QFZZ@6%T05
MBZ=PVE:,XTM(`JA1;5?>;>`-O3Y.*!1I]MCB%E2POL?CC996/>^^17^L#-M$
M#=59[_KKY0D[_\0^?+TZ/3NYNJ(:JJNO7^!E?^+G5X!SIY]`L&)YU?$Q"%ZL
MK:K7+LX_GQZ?GE2OI.JYKSAPWVMO>8&?",U(L]`QK7)PW5@U`!:K$%=!=N.F
M`R\1?:O)K"&&-!1CD(!7:?P"6U35:]2C:H+CY")1(_U;Z@_9)8_#-.KCVTZ#
M_A%S@9/X[CW6Z/3#:!)&8N0C54%C#6B<WL3>P'-I:,]!/_1]Q5)$'6E.,\>_
MS%0G?/SE??7*0S;RWJ\3[)9R[+MQS'Z+PG3"/GMCNJY[-R:>+F"+'V#UFB__
MZGON#17D85,,T3`@\A(O'K%_>=$M?'0:8\55+#K"^0_,[E!#M!8Q>K&V*]O)
M(;_UL\YI7?F]>RR"G[\]65`//_B^J(^3%<&X?JA-,9,5NT-V-0K3VQ2+XX]A
MW^QW-WR`W]CQB(^!]?M9LX?L%0<ZCEP=_WX\A2`EA(_?@HTP[&V4"]Q^UCY&
M`R?`J+@CN!AL/C4(@UO@Q3@V+.AS@:P7/)R`\E*HGL&>D#<@HO!HQR.`)CN@
MZF5]TQ>7Q3WC;7QQ'Y@E+J.Y\`P\N'5O9?TAH$\ZQ%*=R)-=FE3SP9L(>Q"(
MKA;]*!UP%KM^0@_1KLI?@4<333#N`Q[%(V^"QYA[VZ**DS9&J@<5B;MC"9TQ
M!STD(J2257+(8$#WP`\`-_*.Z^R&)_?(7M!W1"/A9,6F*!BG@J30Q_H_>`MP
M'MH0'*0$_R+12O2_LA>C[.N`VU2D`<O+EXN1F$RT3?2P0#2*!&LDG6M7ZO7.
MM;9/LC]BRRCG[@=P?7"MP#<^>MB4T!NZWPWL#]`_>F]@3R>!^CJNQR/N^SJV
M*[(S<EZA(5B]-L5/X.90;MR/0%0\'(H&'9D00>)$[#M0M;Q%.M/6?9Q'?"64
MHXI>'HWS7C/N;<1)$!K(TP3?DNT!IHDCZT^E&MBXTC.*C0H:6:?"`_2+NHH:
M\(WV(?QT:#&MPR,R(KB)MNI+4Z]9]"6GY$O=]UKSD[M0,;>\V0)\C/>)ADCQ
M0CWLD2.:EPK2S!M9%L^F,[EBCSD&%TSZP#1T%D#9S=1YK"8'KN--<%;]K1B;
MZ5-9+;;`(W:,`/H:$#9@IW3<.S$:W":VS9';]ZAR$?""1\+ZN1&]GT0QG,YM
M8$W$H`1KC=&N<:D*/!EAMQ9VD\;`-VF`W?@&&"4^47J2ZQ$P#F_^9G@VC#8S
MQ4`2XCNILEPTP7@HX`^U"15I,0FF]G-LR)_UIAF6TJ21:76>4,NHME\>6\ZY
M-@09E?%AIC8<*%"AJ1BE*%/X$4.[*T*!HO2S_.8RY!7MD[*CWWLH^0'X<!/P
MQ3X"'\\/T`*T2GWQ+(@G>+GJK^KF4U@,7`GNOEX+0G8;A@-<CQ;%"T7V'H&]
MN@"WU)J)^Q?'L8Q`P=F>Q1DF89R4O5IP)C&IE8T\["@F-)!2K5C:Z3X.WU.L
M+"KGFX!D+HG'4#0MF7D.)*:&!ZK0O8#19/_?\.E+4"\NE^=98ZNL]Q[L1`@W
M)EE0WG\VXB!E7:F-S^M&BXU44*SOCFS,V@0T232VI<C)A%>N+?Z9?O=TQ?4T
M&,`^X,GC$,BT7'W]\_BT()I0BI;II:3/@]Z(JJ)2R44W9],LOWM8F>7Z(8Y(
MS38F.W*`F@4:/NE*L'@(RCZBRJV+W?.0I_/O$U\:<$*%PJ8&$Q=P:>S^13)&
MKLA`(45]B97+4*D)/BI*:<MS9"BU2ND89M<QL$'#FQ&AQ0O.V]2I1IDK"<_\
MIYX?AX;>&PE0QN=ZYTP!\SEZ'(Z$!P"_LXVFT$GJM8&'\Y"#S&\(O`_L1;?\
MEA9;#Z#OZ.9#N9\`#0>\;^104AHG'LE^6F%),X*56!$@AI<S(\HV1L+S<0MB
MVDM;M"=(B)<:%,LQ:?5]Z;5=F4FS7>/19R#HA?UB*28]I5>-`4B_@PG/_HG_
M\P_/_4[*IV31*-HS_IS9.'_A6!%$,_EU=LW[HR#TP]O,&?&^7BOP\]__^8]9
M?C['=IG2L`TRSK,]'A5.H.,7FD.<&I-E21;DM4"IE(2P!.QA1ZZ>G)H#T?9-
MD>2G3%G+@P9H.`0#-QK$JAU<X=8^]:X^%!TRI8\>AP,*1^#;IE;H714\.L`]
MISR9^9/%%PV`$0>A4HT)!>(\["$G$R@K2-/[)C(,(HZ?M43.O&4[@@`X>"'B
M/K]#8`G>.7`3MVRJ`G'./()%I*)XILO*-(-LM(:N=*D)$CL"X(.;%X[1G+FH
MK9++A-S7TAS?#6CKK;,*NKMR[6(CZG+/;M;T#.6`,/A+M7^6*?^H0Z4Q5\P%
M]'\T,J3)0OH(JOJLZ&/.OB#?-Z,.+@,OT;GDQ:]I;:]=YF4RY>*%C[BNM^X$
MM1WT7RW^?)P%77<J`/UXK%FVU]35G7B^[;TX.N#A]PH:MBLLY;*@W_Q8J7+'
MP>HQ]9.C&T0M>YZS!M?+%/F9Q\F5(7Q(T@C6''[B"ZH-.7YK[L"I,;P*+1?D
MVO!37S=%A44<:WH0QQ!Q(!NL(A@T!-P1768Y#-1M;<W'1/'L?'R7AVZG4#.V
M:8*!CKWYXI-0NK8IAPK4?,)H&8=6OC7L;LV&?GB?^1:$V\)_4(X+'[V`RM6_
M*\')@\$+\^BOL5`^3^``2&&[IWE.NRN7)AAT+,OT()SP0Z$CBG=1BHINO):$
M_"A,,S_FAT31`TH#%5:Z<[VLP7-,B1#N+>T'R7#L_L495Q<H7==Q.E:C1C`6
MY0K+FFSFB"8QH^MNG`F<.7X_.6,1P9%%B!\'D6IV7?(B,60P2'G6PUBDB`Z$
MOIT_18`C_C,G')D;_]1</Q:.H@P*8,/F,2UZ#PA(O!W*S`G8'0C,,$7UA,*A
MLP"+\)9]C]]EX=6(1NY29[Y4>?X!'%[43\<BO%KN\D1D&V,03G=U:/B1;;I>
M(]2)^"V.8!#\-EZ&B<MP(Z&'"*G.OB\@5>'?TL3_=SJX+:@@!KM)Q:F#,*G7
M5(95@G[WF`]3'_#B3B!FWJI\XJNELU;GAG`IWP&:B]0L:GL-BL&A+^(<A&@&
M&W",F<B(,TTQ@;OT(M$MW0]CZH"-7XYCPG/XAIR8D+4KQSE(`=ZPFD.)V4HQ
M]6G'R++Z,^S@!N#'XSZG5"87>P03H:*@PWJ$!(^GU"\C\XFK5#X0>2YF\ZI]
M],4,9-'ZG2LW)24>L\3]SF,Y@$7F`A9?I[X/7\Q@,4VQ`'"0?2K4DR^%@71R
M^HAI$JHZI%QETD+9R&RPOS%3\GCL/K"!!RPATG$$9"\%J@76Y:1$R(XA$WQ`
M]++.]QK2:&LQ$WEGI#1_82E]#-J2R#[#G]A)EFNQ(^*:3IVIC7FJB<P8B(DL
M,:9(?[]Q?6+&],3(NQVAN/4]>&H@)\,)SD?,-@O\C=$3IT6[(LYEOTF&W`1'
ML1RQ#[SOIG)HU0BDE'KJ04K'F.MO,.0L'A$6RW,1W`FPJN]$73(7CR;"$&/;
M&1H:OC`-R1A'C&8UQMQ)CB.&]#(&C>W>E3A07]^-VU"GE?D(!!LO2YH!Y:(/
M^H1!B5J"TG*1!H)A6H069T:@67GC>_&(*/+1A_-12;F66]31BUJ!U$DILUY3
M.<A]+)0]4O#R@\'V>EFFD9B]D25=9'H1\[2!*JC>TSN5BII_/SM-/N(E&Y(N
M7Q'3IYHRZH-.2=/^^K"XES"A[8BB`6`-/K*@/BA8+KP7%"WTXP(<Q/RVV6N2
MW$Z.B,G=Z7_!*KF6Y]Z$J=#EY4OO<2J"2/V#G7"W#P*F#^@$2DR47P'H;2'E
MAHB'>*:+2*T%&*0'QXJ53E2OX="L<.SUX0(X9MZ3:CI&/RUI>#)B/P<$GLSO
M$(-NCMCI<,JWD*D:F=<@VS('-AY3F(M42X]\4X:6A"<6!SX+JTD\4<:3-O,&
M.+U+&1@YGJ*V1.J_0(<=8="]\O$7LD0.A]H]HDB#-8-9\H'G'[&S,/]V7/[U
MLG(^5.))K<YLG56K^7"DS>Y$+V]?6B\-`^1.D<P10$^_H.=++_YK-V"N2SI,
M@_X^"6.!OY*U10`*Y>,)PFA,7"R-8C%$5^5?&^@E`@/7`R-,*Y<M8_B9'DSH
M/:T1'[&K0GH9:L7%[*TIA]?<E<@9,`8AA()(55[EK!BX;>(EJ;`"%>.^N#P&
M+<$=4X&;EFU$IDLX'N,D0_CU@QO\E5<,:<4/LER'?>$XN`0W05^=JHG21V-A
M-@EL)44YC?H$2?M[,00W3$`G`(9=4$=H`/>`O6MWC*;=,LR6+"IN=0S'<0RG
M8THWC%+GM6/.&0F4\\3ILN$YWJ#BO*A$<T\A%!ZD.*0D6)K)EJ&!Q",`\XZP
M-'S#,T8!:NPISM4-N"4D2NELH_N:1VS\.^AM=/$:!=5K,<Y-8JZ>RLFT6>[H
MBLP2#V@LI_*G!:D8`SW,M2T@V=_#>\S/-\1M]^=LFUB)($M?5:3%60U;AM\\
MPI2^>('N)K>H;4'G":7JEAASR%40*"]=(3,8\Z0?A#L:$Z&+,P&?-\X1R24S
MZ%'ASK0+G24^0I<$,^2$6::I7IN)*@5-6J6:&-WR?\YPP[>:[?$F7KM/_%A%
M+1R]L%IXFCOF=P/"IWHD(N*:WX2,7>#N-#]:.%%4Y$-8V"[66T5Q<@BB7?R`
MACI^$ZUP++@+U:SH(^#QL0C7@?7^%SQQ"$+F%B18++P/P+C1S3*@0C(JO0"E
M$G28`9BM_23+H,#HB_C$=V\PUH_A!U#?W024M9M4S!74I%DQ)0Y#.R/N@E9U
MQC'H1&5WY$41@1E/\^"H&,*`H<"4L=`^%]RV3X=!15E4<T@7BOJF"@U63]%Y
M-CUZ+TR/5,@O0W876<CN1(7L*@?@C;SW8E'4<HIJB?P(24'=2,>IG`0]P(Z/
MH!AE&A$9?5G<4JKM1^P$41<4)\I$1>TBX/=`YF)X-`48(BU@*I-7_XT?3C]X
MPQ-D%EQ6A)$V2BI+^5ITC*P85M:39[O&(Z29#Q,L,Q>EZ*&/Z;5CGHQ".GM$
M,;\X'0XQXUYD&.1+@,8I5%1B1'>R_"VG<S7]^HZ+>/$1NM>E"Y;BD6[T0!D(
M&/`0!\=TKH#<2&)545Y+Q(]A48RLHG-Q5_QN7SQ2K86*(Z"ARH#GHB;3,5.P
MT3FH6;(ZZ,3`ZA%;X.J!D\/]9!>+R)>7\.(@<2;];WJ]-WXIRXB`G\BV.$!;
M-0P"'K^720-J++K`-6G$H]U#H0:T(W:FB`L38JGL7!;H*SE>\`+)]K*QDM:2
MZ(8B!2=[_+&,#*4V*#IB5!<]S27TDBN@^(4K4B6F7H5I(&8*GPPP`EY`1TKL
MXR(Y9B?N=FYNV:SX$)0G/LA*G$+*+%L$_C#OX#">HF=RY,U#+J+V6$[)CBL]
MR+JSUCG68/M[M\'??Y`S9+57;^5DXZ^4L)6_S?>&-`+Z)F(_*14TR/],H90U
M=U]^Q>FY'U+/QXN/V8'(;:/^6U@T!"`J/>?2=[.>H2X:%G;8(;-7:75;H>;&
MHHMQQI[&;A_CR=&#!G9B9(E,.:362)@3@Y)F[,64J8=>_H#[L70P]I.*75`3
M+FB=P\%>JZ6]8JMM,6KT2YB`'G?'063[_(4'ZC[Q.O)E3#EB=C-[>&D*^I1&
M`5E\!AMZW_/Z1UXPSZM"#QNCA;F=D=^J&OBLJ,=IP'I@"OB8OH#I#(6\(FJ^
M,I@RO+,D[2'EL<G\H1(&G&O[\WFPR-J1F>&B&<^DA-%3MG!'IF*`T=`4/ZXS
M_'.*:=@8:#**`3AT$/03"869,Q;"687T]?LPQ0XT7&T[2[FGU.9^%N":N&!F
MW\,W!+CP!SU(*[KH-(_8*8#XSH,#2",98(9E`L*8IIO@44A0GGK<QQ?88A,&
M[(*,)S"^TKX\U%WHIV-:X29"#\T]>F^I9$K.&Q$;E?7169<C,B6BL$_Z/MH8
M`VK\A9D`5`*B^KP$`2:$:]758#?DY=7:8F`H@EZ=J"1[+OU":*K\HE5Z]"G[
M2UBJ\!@E"&`<4A@W*J^<'=,[KO`=IWED':OZ>G$<*N.(NI+"VEA4F/<@I>0"
M63H8#+"_!!W&E64MZ`D!F"IX$_RSZ[;-'ZGA#)Y[7*0G#>CH'RO6.I"W:Y:&
M<F2?;1B&#AK-#=9_`!$+-CA1+47PM5*=B$]U^1$1@4G>ND%%`6X>-/N17'C8
M7:V$*C&J*^H3LGX\(K$X<]=YU#7.(R3EZ'_#[^@'/Q)&K.S&09B-S=FRUGGJ
M`(9L(<=GVB@5?:4&'6WHQ9C]B%`3T5GJ<80]E@^Q&((H1Z1>!E.N5ND-Q)V\
MZ[:;1M-JBYR.PK,X,.-@P,5/[ZF!7.DJ&&BA_$*FZAM%WHXD#BSUJ=?>689E
M@>;5M`WVKM-H&9T6MJ&WK:YA==L&.WC7Z)B&TW+>X\^68=M-H].TW@,I'[SK
MVFVC99KTIV:K93C-UGNZI(-W#O[6?J\2.3@E1F:Y;*0R3X>QNTM&H=]`Y&.Q
M#UZVKY(M+.5\`.IQHGNP-2S.+JU(M4'6F5<0#Z4'4(VQ++B!12+1%DNY'8UY
MWLZL4MDV=>'V2O#?3'CXWR^=B8^W@&GXB2<I_OS&]V[=W6H.H,2/],8Q[,K$
M>E?'S,'<6H%W>>H\]J]+`P\E*O:D1`>ZZ,Q%Q=K%+J6Y4@A4X[OCS.%8K[DW
M)%4)Z.1./BJ\-RLQ%6G765$*)=Y@#8U*G*:WBJQXC`%G%QEF%YG53&;MY9"M
MDVI%7!<YH/089^U!M:==J0VHO$-9N)J_2%+I5&$A4FH6+V)_8/-V^IK6)QZ_
M('7*++`BR#\<#N42NG/\YD&)%QDY0]]YH=&=VHS*VYS>U!$[)Y[ER1Y_.B!%
MEUHXF!`](G%,&PQ%F?D29$;>V5'?($6$O%CGDGEDKF@6T`7D2*\V+'=Y'3+X
M-_%Y$682./G=>-07TU/[$9*??T\H%D1<%4_%5+U@GV<-SZ?N0FF/.1@I!U6N
MS6ZQ``)SLT+09:GYH]B>K,\0=9JB/>Y.<(UCH==)6PA51\I_+5`YTJ5&X_FM
M88K(+$TQ;/D!UT,:H.J..A21:#_TQ,20:H-W>Q+?7DO^__7"\O^R4!].90.?
MT=+[3"R3M(.=R1N;Z1N!DKC1,@\M\[#1+'15/,VC^4"@'[UX$L8H-(&K?\XE
MC@1?]MS'7XS9\GLIG*D;+S*`-%9A81>,MP?%!+3\`9R#0J%Z[-Z0B++OW*(M
M]$"@MFIDG6?&^71K6-(GE/J`Y568!`\;`E'E/V@-!'PNT@WD*M/&N;"!5>L*
MP0SQK-1\&6ML)Q&RNZER1)$'+9I;D'25Z<5HV\-V!I3E`N>E(*L\+M5<Z(<4
M;4#"O@RI2W^9.#9(1Y!8'M509A"L-A/=B&:;)3K&4D/PXH2K@0#H5]'PZ^8!
MU5ILLZ#RDS+C3AKK6L>@`[`4O5BY36B4#Y!.F":R-Q2Z@40A62SL;N&FH#@@
ME5,())2:RQ1N9KT8!5X=L5XPG4AC,&\(9J:J#C!0WTE0UY2-(E#1CG7-!G3(
M7->=HST*8L!I`)S*)CEZT[)#YCK]##B.),U+HAX08T`=<"CZ\.==6*;244LW
M$Q75?IGO)6FLF+>)F9KRY3J$).0%/\E2E\A-AHZV13"84>>1KM!%*\8AQ*&/
M13[Z$>4E>KK5HQ?3H]\-=Y.WTW"G]_OHMK`?20D#G7XM,.,[K-.5:;#4@3L0
MWM"\H@B(HB]ZE*![2IPCHP>)<;O!*4IDG_3EBR8N66.PS$`58C';\6*AR!;*
M1$3KFUA<#NSKP'LO/42S-UT4DJ*W4ZD)^*YK.+9E=)IM4<IZ'WD)\#LVP+;:
M&;[DR$F,YEW;:%DMPVYVITJ5W6"6IN@M\`:S:32[G2QJ(&>D4:R&W+-N%%#^
M@UXK6U(J*X)+PHE_X`$('CM\B8-.8K9;1CKO&H;9M.#_G04`P;Q8W<WPSC8:
MK8YAFIWE`%*OO6MUX$5.2SE-5@#'K+/5$LJ"<,J0*!+)25QTD)5(JE\B0D<9
MTB5<<*D[J'0J%O9H7&,N5C63KZ8RJ#:?YO5Z.6*6N(-/@*GYR_Z%R)S_^B7O
M>!7GGWY%%UBU`/)"]S8G*62%W(_%5_;#(Z2_/4Z.EWSM1Q[W(V]2%E>H'%4*
M_/T3I$3^+A(7^(X\<5/)COQ+($2*7T&!4BTB71]\_B<-0<[F;[O`<C*-0WE!
M$18]BJ%K?(T*Z;0'0#P7GSA58]RFXE5Q\6L'G[&#3?X=:\WYL]4!N3:6/'_E
M.3I'BA`Y!WTZHG)LO1!TDCX&.7LG(%<`P=<@S(%5Q+XE`-9XBP";`<[V2IUG
MO?;P^OR"7KW\:[-'%>A->6WUVC6.E,OW\YOK!1KO._A,16'O-R<;7RO;F3XY
M/?MX@A`\;!^9302H.L#GDT_PL?I46CF-YH]R\?,YCH"#DF2K]T4+>0'T-I!(
M_6[)9V6SA*GTZ<SQ\(P=+'6,RIW\<'_BK3_Q[F+W0>8@?,869E6,%RR+R#FU
M)FI68>KR+9]78>&EOLTE^/JS=*:E3OX4G)BW3.9<7<NF-J]4OCB`5N.4.P28
M[<6<E9?;$A1:Q<+-RKD68=,J"Q(,50*2#."L!6[/D%S/,D*F]V,?-9]SDRL^
M_CA\GK'@''Q_[2U6;3][D.U!M@?9\T%6*D9H#6H:[O,YHJE>6UDXS5^U()]L
MP^ETC);CK`F*C\BHN:706Y7_@V]X5E=8]R:\PR2:<G>=5KK5QVF8WM`3[<3(
MF\X:J@(/4SE4Z\*1QR,WZH\>#$HBH0_1`*2T%J9EXV7)=VP<#K@OVM2+<9CT
MW:EA8CCK?NXT"S6CP<CG<\LTM6P-T?Z1&E>SB1LE7M^;4'-L4=Z*`VDP36XV
MEX5N=#V%V%<R04UMBLXL<FS<O"(4,WAF\S6I#CF#GZC,I1Z1<'OB%IJ'E!]S
M<7G,KB/*/7A@-YCUA]]]0UUXUYI'.R<=J\1348KLE(0JL-W6L9TM0O:;!VH%
MZL$[L!4A]12<3"+7BWG$\N:!<A0;)5F[_5%>EJTZ!F!9L?_`_D/Q6M'U4^1"
MQ=[8\]UHMW(=2[.B9=9X$!;R[%UM[HP[Q))_ZN*-E5MB`CEU&<@?P)IWNA59
M@"W&K,(',]A#^%#2)MO<D4LX\%^\SD65*]9K'WC`A]ZNU+5<I%&<NGF*?<1]
M?H>_^ZX4!Q&_Q=:5VO`(T=XAT8<89;(N$64F+HY/),JA&<'8JY@Z/>1EH>C?
ME=,?<1KH>.*'#YQRT2/1-`7Y&U#4'8^H0`Y3A:-;-Y!-^`J5(LC$<(B2_JXX
M/U'VSK@_@A]4=CT-<.I3&F5$M2!9,V0J:E`[TG4`S!RG\=U'++^PZU$^<8A:
M^FE[R'MM3AU=5,%,S]`IS`^=&:A#I<%4A$H-0:A@_EX6SCZ()/Y!RJ>W-F]X
M;@%2`%Z<M.$`HW%LS%=^YS3;&)T0$S?LMFDT;&>5D3[")8\C?0Q6G+2Q$W1U
M,'YA%B;;Q=9KE]1?<C>@O+`Z'[%7+T#X(`?X$->ZD?-L"[4&0LRK@6[3#3LC
MG@V*0T)/@$UY8J1%-I!9CE`K/!>/5&>;0O^8(KL!74\.*,'Y<"6M?_4T^:SE
M:+U6UD1V-Z[^('AA`OLL^@I@I19)J/'N#'6])/D;X_`];::VIL#F#6"F)9HV
M^IKF0)-(0T'&5%=S1EW-A30KZV:-QK;22?`]1^Q3.-U[QI`%27H[ALR^!>W`
M"[QQ.A9?SD8(*CT`6U9-]$F%XFLT5I*L?&F@966PPDC6.D/(-C:YH!YJDWDF
M84R#>8[JM9Z<*HOC>;`8!YLF!++@A(!7<']0PYM#A$3>AD+U]A(:A>H(I<IB
MX2&R)0AZVB,[PA)6?.]^,LTJ[#9\<9.,YIH@PQ7=-/H/A/G7V`_1W[$.1#DW
M*?+39)Y^#PH&]VX#43SI#3PW&WBC"I\U%Y$?8K>WOH2RP8#=`\>\\>#6=?WI
M\LL'75EZ;ZA9:\,T4)T$U2*_B*9=KBR/+OF&M"WE)><?%T\EZ[4Q$9N&LETE
M9&$.0-<#GEG8WM>KCP5=#H2$_N=WA;WO"$?LQ52N7.RBF,:RS%\'C^I$2!Y?
MT;6JJ!F'H/%*TN/4_`@]P%(%0!N2^D8"BHA^EW`9A!Z9@XQ4!M@0ZN4-L_#J
M3P)764;F7UP<I5+0S(6YGVO:18DHY_A-[0BQ/=OR(-M7COB@6:C.G]]ERT10
M(>Y<CZ8:2>U@MN6$V(M40$`S4+,(I]XGG]>F29.'G/4&>+U$PC2#4M;-9GTW
MDYS!*6(H["'.]*)2RD<@S!!]5MN/G;U@/_V_1J$_F)XFB'<%ZHP;DSM'CO#+
M!I?0C"H^XF`!W67C?@4L"IJ/U/%4,X?L$?4';`=5!).+'41NN9QG,\@;2^3L
M0;35.F*4%T_30^4<ZFD`XL)N/_-62;9"2))DHQCF\"0=6EDG-)JD+K<NW1\T
M%:>PL5@'FIRX*'NZHNX9TX3(NVQ8CNS:60";%H1!GO<H@$2'MNF-&'EY/O:G
MR-1:+T8OGVSH`2HZEU2DAD'"QP/O#DQ;'`2>CVPM;F,*E7=%K3R8O+#J\TD)
M[_.,F>T&I'N/3$#6F7LPT-L)H0J32/Y&(W=+P*H[B^2@^)*6RS</3/4$PNY`
M*&'ZY'MFP!6"<.SU5:<A,OLPCH?L/YH_0E@TYU7-:F(,[?6!CK!W82"[*2&?
M19*"C4QP!BS-0MZ-.S_XSXL;%G!]V`[B4K#YW;(D\E;:4L:A""6`&"3I`$G)
M?7+H#J@7D/O=H!@#T`+'2!%)<DZ20D@3](KD#K&LS]*`8T`SRO1YFG-9K^$8
M;=6*RV!JJ#'B/\@J$E#XC1OL0!G>B&GF*F(-A@OF,I"G)2_75).6@1U@>DD4
MC[R)Z/A%BTS-RA)!%OE6Y33",9=`QD/O.Q<]BV38-Q_A#M8&4'#>"!05`#<.
M\1L/E&FQ.S/O#J(7GU"+JA<@K_M]5V;4ZG2:61?4Y4^HH0F"@J*L)5V9"O!B
MU^$$!-94>R9%4846PJGH;C75]%8.F\RG>:O.Q0,NJ4K?TQ'[*LP\DHMJ>&#I
M5XMF2;$S/WY#Q$)A@UR,$\\ZP8O0(^Z4CS&-"UA,WKXVUOO78HCFNW(L#_4P
M38DWE3KMJ^YKTDV+F5I:4U^,=QZQ4[0UD5^,0YKN_A<*;;(J4)93`"C&4V93
M>;'#H=!KW!P4N#/A3*:.:5(-$"-Z.;74S6;`T^/A/=TR^:25<2)LK]O4$QC@
M^G$H>G(-,!0>>31"6(2:A*F0B3M#>8'$5%/I-W?S\?%>W`?[B@;<8-\FL)1D
M3`SWK1S:V,Z./K@1&1/"`@-`%+Y.+1;%9'JI=.GFE0*F[@^8!FR]!N"9#=,1
M\U9+XUA*(#]7<FT16HM#']?`/Z.MG?#^*"!E#IB_MS,930?Q"W/L$VQ('$G<
MI8&6NP%H[=RB\^)TKIUH7(@]P($9(,UA4I\(*>8M4!DECU+VRB!"WG"?CP+2
M'L<AWX#)]!5:`F>+AMC8&[W$@0N\DH;&8&P-7A6F41_W2]W=BC$ZR9:U4%UA
ME"]%VQ:T16/9V*,\&RB;7\JG0:)B95KKN;9A-AS#:C8,LMZN`&*I&PA.E@^3
M49DGZL#":R=6#T$&9%`B9N=%>EMZ;00SM2FGE!P<9AX,O6@L:DP%/Q3'F`.]
M;._`ILEA(K<RE8JD9J0/EM@OK)C!D@:MT`%P1(_(!LQR!H5LHN1D;W#X#S=(
M4?#!([;$,7F8;#@.RN';"(`\*`PER@ZS*\PO>6'F=P7VQT30-(#^=_@?NOU/
M7*H:.\0/"ZFT(7P=M1S9#1+=]<H.D]G&$G`$I9&$FXB[^[[V76EL2IV-^E.B
MC8?DD?G,A^AS'6'8GLS.8E?I+,@>E[]3,BK2FR9`*R-7:,:1>\\P<1ZXM%_P
M]^IL.:`A&]*>)LJ$(XQEU@_PG'=-LV4TD&V^:[;:1JO3$@EV3M<VFAV[+,&N
MI%I`9-BQW4ZP2U^8LH]#LGY$G&`W8#QEB$:IK`P0%$*M5&5".XI7,;W"8-I,
MV?QC,GUPII?4C(`*O;'TVU!@IJ_`BVWF*?YGJ,(52C'R_I/*O-B!.\9@B&;$
M"1>5Z,RL?5ROW7"R.$&7N,F\.9KK1M3"W.#0-RJ:R<>]"5-%R]%S!W?H)Y)1
M.B\:B)1G3OWUP[DU0_5:5C2$+*/0ZOZ2J_;)`$"9U:OL8IEW1!I1UA7W`&->
MV4"RZ>$\R@I.R+\L@F3Z8#\)B[\"Y)EXB84F^3+^29:5\(4OB#%BE-0+T[A0
M^B2G,Q(C4JHE67'>")@P#?+*M3X\"9B/TM#&,3)B;`QY(GQ9H83*BI]*IB[;
MF^NFN[0G%5/V'W08X$6I?0(,U<TNQQTKT6!LPRE)ZTI_VB==X7O?*HL_N'MI
M!1FS#PYE32%R%Y`*.Y3-!2<>XW@LA((A_F'A)(]IBD_N2<M%<QD8K-`<LWH4
MXJ1B>FL83?E1A5NLT+L^UN8>P)]O<=UZ#26IE@'V`6NL#Z_ZH]!'OHJ5LIG'
M03DRQ>`4>+WBSRA`M5F<=UP,-]/<>VY,*2#JAJ66?,<SCR3(]-A+L&E[1.)5
MIGGL46$A*N29+"#8LL*I^5@AY6KF"<]11)53+\:$DN=E62G.O_7Z*G`@DKS\
M!V%$Y8=3"^A.7LV]C;AH%/R[0J&A(;L:/#)(J![^PH<#YE^?W+N(GQ3YDY44
MY`D;`((%*%=I$A$\$83!(:`9Z472I4Y^&JH`RZPYL:H8FT<3%-&#G^FI]$8!
MAMR/+I?0ULO]U`J_/4$0Z!XZ8B=RRJUV'%*Y2L]<)*Q"`OWA5`*]C)&*<:GJ
M:J2V2`GV`KQR3S)O38V`%(XG%3.XD^XGE7[U!PVS4^-YQT`)4PY]0(>0G&NN
M0"VI^],$XF24/RH!D2;9K(H9Y,/YS(NQCRU&/IGIIA+Q>#`H`D/<+MHV-&$$
M0TV)/BJ++F.I-TDT3R=,*_V=!D"AH"";*ISA0):@)^LF\BW-3N%TU3Y%+'UG
MG'GW+ZRK?`"<ZPM/WD?/)V0]XXD,L=*0\BO,I4.\D,R<M)O=N`T"3CZR94*\
M45`#`07_OU!1>T\CM%$M$.F,]5J0DELKSTD,TP0Y-UG\6AZH3+)$:4.12LRV
M*+DN=4>%/>6;R1F.J..:W@_+MZ,?!);QP=0=X.(T)5[[&\A?4&&`SD5"_J+=
ME^ZX!W+I4*U,H8.<F^@KRW$Y@OG*8%*6,-QW_;ZLT"8)EA]C9L\S"^N^R6:C
M:3A.UZC7+.RL)OR+#9,^5*!8K@"8)AN\'?_D\UYQ3<G$BZ<0"=3+_-,W1#HB
MTDXHJSEY,IS=3QIZ[4E#3VB6.&^$#TX+T?JYBW$A.>.:-RJD"F-QW@"0Q9R"
M;9ZF@OQT>\]F+NK]7;EA!OCS63KF%,DOV?C2L"OMC;?RDWG_NPV]='^>*I_G
M5;J]BQ;N76TH1TNVHS_CB:H-6W#(RK7B;YA&MVD;[=8B+KN=4PB:EF%W&D;#
MWKVCPZTWNY;A6,W-''WS<FB'&-W^/-4^SP8$$?[\D6/17;#7M?;G>?7S5&-(
M6O>H43)/Q^H<M;-Y.N2;_9G](3V<A\K#6?1KEOLKZS5T[E7I+AN.T6J91J>U
MRMR)"N,FGL?",[6WY#RFT>IVC(Z]2M?U2MHUA2E6,\8.+=8;#'ZNUSXJS[HH
M[J80AA[`7P"(EY\$,^/<7>]0&`OL)F>UZ6UOPU_U4@`$WM9JV7L`/AF`MM%I
M-S8-OY<=3E1D.C*R62FF#P*LW0!!MHKM7&4AAN=I&@U[%4Y6Y?.81MNT0#"O
M4\G8D(U730CN3:(=/,\+A([R?F)9K'_KP;H_3[7/LT%KJW2XUCSKBAP7*ZBN
M;WU@F7G4>9[EM.,#WZPCYWEC;G<>?N9J8;\G`>`5Y[K.8S3S+:IMO>H]J]FS
MFAUC-7/'<[[5G/N#[R_>+%.UR^@O+M)\JQ"=ZHF9#^#(IOAD[7\*I8Q#SK%!
M@:HP]Q\*$WKD::C2[;>Y[:#K-5G^4VAU+GH=S>^V9'9%*W/]'=A51N3^Y_U'
M]#5%/:'KBU[I]VZ<<-$/"#^_=:DK$M7D,RK(\^))&+O4LRZ;-<1*1@T9K/S\
MV772YLZI;DX6S1S(JK?WQ>W1^$3](?EU+'(H]$&>`=1CU0AY&0+FI4W!36PM
M'V0C$]?TK5%OFEG(B:H@`;J`+0TQT>!I.?1@9=A!^UG]IE2_JS`:J]X,LN._
M"/<6>@#*9OLXM%>CB;[LO#QR!VH2)@:^@@(19#T49[NFS[VEJ6J1^?4A;Y7'
M'#R\/->&N_0?`$D'X81*G/+NG8`G08@M&G=H@-5IP,[[22C:K&%!4M8.5595
M]W+X7&%*A!L-V->)J.@M3!GI77W5R?$].PNURBY<_-!J&`4F\P4+YB<^/_PH
M>R)CZVEBT:RGCQ+3J7SZG4RN7'AWUF&*QZCH8,LK47RLW79QRDK6+)1JFK67
MZZUVQG*_JH>SF)`I=GPHAAN(I;&@2_;?$<,$5/-1%]8<B"$UBMEH[4A9S">N
M7$-[!8K3O!6?VCOV/NW+]VEMIM4@/B&,L28^X%2U3,U#T\`38S)R0.Q&WY?5
M7KOOQ5(M+E5E.:%QM,8O3/1"2Z7_I$IWOS$C0>-IP%@TEBP:+V<LF+GYO';1
M1%#UDU?UP#$7'4&SG@*NS@8-R;*I-7>]IK6ZQWXKP0C9=[%#<Y*U?69ZOR_0
MW]*$^C#`QL,HOS_LX*5X_&$)CR\(AD([M]GE12L1:I@JNJOA4>$AO4-_"8^G
MB0!2\4V\L>R/JF8&2/TS!SA!.`-)?G8Q;JAD3X7WJPYLV#!LP(6H4FT>2#R%
M,<^_)+M"T$JC\%Z?%*V-9**AE$)++UZG;)@N6J@)::P.J/4_P\<%K+6NW#/'
MGL:S2*6;D>T(=YX759-<+;L_1J)%C;^"+^7=TJC!AC!VL9=\$*1D[DY/-KKA
MMUY`R$O=S(6M5J_](PUX3H]64PZH9^<!4^UI]>;`>1]!R6G@9*CXBZ-1/Q/M
M0*+;AP3(0.34`<X/J(4H]7AQL36'.$ENBBR8AS<SCI.T!3$]BB"=SY8QV$V*
M&@9.[17O"K17*)S(^OT6.O33(&+1J!ZG1@`:217%O8VXHB@Y$;C0,IFN25R2
MZ$B"$YBR9U2[$+%T]2KH-Z6T:XV.3:.HL`-A@.I-?SDT6T6-^Q-VO_H7=C:J
MU[[D'7I$2YV/&NL\$/,1.K;YOBC@3L>B__0MIGKFWQ=L(5^>Z:OKNOFLU2`W
M6E#@$<&]F*5D:+`YZG/OZA@DD-JGZ/ZB^/U@9F^J8RVBF2L8KIK])5E;S)/$
M+Z)5!*B*Z'N/9H]H+HZ:/4VV_0Q,Q:_7&EI+,;WK$1$I,M#"5G1.)83@$/X,
MU"=\`#E+$8Z?S!N@V$C>>,E#NO#&-'Z&V)&<FRNXMKYJL<NO8C-$9)K$D%)$
M\L9LCU,L:XKS(,-.M)LJ<B(VS8BDS5/&B!`0,X.!=X.<#_[[:MJMY!GSE5N\
MS`><["RP9C<N!/CK%_=!BN@YO-4Z-)VE>&O.2J<X::_(S/J@'-]QU2[I$_6@
MFV&E4WR:7>I$"\3_]>CJB/W6ZUT(9>[TT^75H^X3.LH,]RWH6W*@6[TFR9Q&
ML_!`#@9P$YT%CN3LVQB>I]%4PGU,6ZO7U-[P$]R=;*:8M6?,^^',8:M"39['
MMUPQJ8!>7I0A7KQ8193L5'8^(XUO5L^3&MXT5P:N>.)&_D/.%W%67@I63Q_5
M%SE@@8B)V/782Q(NNZSI&J#HD!=QG%&<#XA%Q0?7%3/U2#L,IU5)N\CC\;"R
MQYHTK?)A.`B]$)O((6F+-I74=#[;.[QO#OL.@P6MC^=HC*7Z)<WT!(Z/0SUW
MA,FCS@:&P:-,!3#JN#`<5HVMFD.YS3+'IR!0B4$4G@,R)*,NZQ26=5\*`V52
M:9$)O?OX[*3:J<V<'Y\6/;_<HT=QHEW`9?_R%+MB:W-=Z<_)?2C'6?5%T5`^
MQ/N(:6=D8/]2J:MTXV:8FA^G>!38TO0@@N),V:R9X:-3?P5E*?U&F]8@9RT`
M\?`QD).<Q9=U?I3A'N!SL!F#K".R7>CKQ8'C820G"<)R#WKSR#SHBOTYL^LY
M`J0HCD<1&)7)\P)*67913GVD45MN-E#T)-/U/N(122DMRB;\UH4^"@N>G(Y_
M$]A/Z6SGJ;#D>]J,9!%/+,-LA-`<=)Z'])9=BO0T0RQF60-=*3+%^A1+(UP2
M72(SFE`(-!W/`X:8C:,60*&)9QF>34^!)I0+Z-\B[MX#(N(\,\36FRGU_WEB
M1]CCP.RSZ6D@=S0H%87"#-?7-PE;T1Y<*`,`RQ+=;Y#3+"-72XD8V!T>7T*5
MI7P>_U@@RMQ(!`V'#-;SX1`M4D2`7CZA[W/>YG^A8B?QW;(>EP^Z@8HXF:DL
M:%'J=ID7Q$F4Y@X#X)C>G2L;"--\!#1O!?,/:?>9RE`<%E\RH1&,>69;YJ%M
M'CH2'8]9QVH>6OB!04ZI.+WYMYRA@(@9HX4<2!!IKCV-_"QK2O%;FN8TEYZF
M:Q%4&T6Z0H671$(VWLJC5LQW'B!+YJF4=PX$B_23"Y*]!O8:"4T9^&]`LT"S
M2Z`O_$5H/9I!',NH=RP36Y0B35CK!AH_%QJ"B-#.R5(25(GPETQ!?IT^Q?P1
MBC[S0OMXY=75/?=+.'91K<+B4#'H3>&`-LPN'YVG,X"LD:QR@>GKZ,Q`4]7T
M>\3_TN\#[PX_^=M/:7QXZ[J3G[&"(3X?ZHI$+QA<Y:?*4PTNX(4X3.B:?T\^
M^*">_5JO,?8WM=(93XX!?2^$KV_PX>%KS`>GP6D@NW+WLO@[*9^PR"4?_OT'
M'OK?+DXZG4;C$/YC6<!9_FF:9N?;U?7';XU6\QO>@F4WK&_F#Q0IIZ>\.'1L
MJ_WMZ]7''X#C];VQZ\?8FO/7PZ;5;3?:=B<_X_([*YY(?`&A*92B4XI-Q,E&
M]V^WNBW+R3<_;Q/%K6H7=B%=JGB-Z63B/Z#SPJ,53K[+V-CG,+C%T%?^I^Q2
MGWRX7Q'!)'Y-<8XA++D,3_@%.Z4#KY?LY!>&&SET?3A<QG(DWS@[OSYA5KOH
MO/G2^\?Y);OZ>G'Q^?3D\FHN)]O`?I;@GQMXZ\>\;?.C\RXS-JM\[L`X.N91
M^T<*2Z)P+$R,HW[-'ID:$^!4-*<`XXH<7=>])'M)O9:_14TB'J0\#U5FCQ52
M3E48"FQ%]X'"N=0N^IUM=+"[6\<I;YF]\+S95LPY!V:=[I'UR'G!WIL]<-E>
M-!BP_+U%$*#Q^#@,F`Z">NU=T[#LEM&RND^`099U.S7C-(>!TSUJ+GOGJ-VM
M!@-\<1D::"L]#@/VSC%,JV5TNJ;P%Y(_`MWC,CPY=O^23@=UOKO4#V1>`"FB
M`8#F$%D<6'EW!%8AG?5PIAP)!Z)TY$U0S60B\\&ECNU39#PK.M?'<XN\_-B=
M>(GK?^:PX/F-+R?2Q:=J2NTFI4_#LMM=JY$?\I'-%'=^X3Z0[G$=]OIDQ9"#
M`>3N("5E3%I,FSR`8[8:'3/?_W);FI;[?9RZQP&UZ=_30"I!\25-'"$LVZ@.
MT^TVV_HM++.CF3.`LG"-L^LO<%S=)K=K==I=QVDU"_O5WU[<&MU`P>DDOOXI
MC#B0U#$E>O<?KG%.*H9V22.EWP2U]C(7$"AVYT-XRP49BM-`VNR9;:?;<$P[
M/_-+':L(3)F:NUFBLEI.MV,Z30TCU7NGU%!.64F7*BLG=Z!L5+_<B&4J-,Q6
M4</\\/7J].SDZHI=G?SVY>3L>KZ.N;56N@@E1ERYT^4`"9&.]G.9EG`384M,
M#G9V/P*YCYD>(F;:'_&QAQD1$\&/RY6,ZY'^*E`DY+ODE!0@M1@'R0O;'SWZ
M^7!3ANZ>6)O!%./CT9UPRA;RO*35K?O5\DR];)B<<"")QVDH],CC0ZTB!\DF
M5AI*5'1)B6W%PE,+UG9,D\\"P9NC$/2O&QSUPD$BQ6H671X\0:<&FGZ3R(NE
MRTP-QJ+T]&(VI0<KW+F>GXV1S8./G$:VWZ8^!4<E&!:?`Q4U_(3R[2FC##1;
MF>JN3YPGWQUNG^:"J)EE.^+)Z@4:_"2.%IT_4W/<X"8!*3W,D\UO)AM!)%>8
MJ?92SF(Y6"<6'5G4A,I"T9\LR#)8GP/M>#C0,)J$A"MB)'(>4)011HJ%PPV&
M?8\\5$12(K:G7)=9Y$[LCU"<9*U<&O>`:Q^()=\3E2H<A;.2AVJ`+C[`(U$R
M$8?*)!#[DL/QQ%#`;-C<,`U(:F+Q&0I"F708:VY!L'DB"M\]&,7LWX3W1T'H
MA[</!O/YK>L;;)3"1>2X:\C\!Z`P>@.H[,E1D?%)KZ3TJL^_'Y="/T#(`PH:
MW,%'2(Z!/DY9A1F%:[^8%9"M2&D)&<9(BTUQO\I0577G[:BOXCX._S@Y_>WW
M:_R>/Z!OX8P;=D*3;6;+O)>N6Y^MBYD9&+)PG:5?5'Z()^Y1W$UQN>EMUVO'
M**TWLZ77.(U4-K;F0%+97N^FJH/X5=G)TT=1+=LGM/R:M-0"Y6%=`(32EL#/
M0,K5!R4M@[0?A"7`_I\7/,G;@,P5VD1[L$R#13KJ5FQ0O0.`N0Z3A:)L-Z%R
MK*R0/61>!5]>:^*$-#OL3C;5*ZLN/.#?A4T'ABD80V"A1?'[!8"HS-2GKGC8
M,MM&Q^D:#7.5<05O>^"5.GK3Z%H=H]7<T+RKZI[<L0S;L@VGNWMWWG*,;L<T
MG.9J'?*WX.B'NW;@C=_U"PYEF94[Y$N4WKHR@?/D.WC:[>6]#6VCV^X:'7M+
MQA.M0C;[8^R1:W\K+]R#?:VZ/GU)-6?$QH+O1=::%J"ZH5+->BW!]),JW4*C
M;9AVP^BV5A%W%<:JMM'J=`RKNTJ?W`H?QS(-&ZZHV=D2WM4$[0H,QW9C2T8$
M'<`%M6C\\R)'>.E;*Z5_.<`*NQW0>E?ISUTU55>RX,KQV*[1:".+71E%JHGS
MEN&T6H9C;\EQ;*/9L@UGI<[^%3Z.U3`<$Z?Y;<GU;(FVNY%KJ:RZ*^O0*\>)
M;5`/FZ9AFJN,"JTP5K4,V[:,=FM+>%>;YD>::YVW^)I*E64TG9;1::U3J=HK
MN^N8Z]GI-L&HJOA<SX5;H>`I93:79B*\GJ!KF:@;&MUMT0\!X2VS:W2;6V*"
M`T?"JE"[O27GL9MM8+.V8:T4L:GP@=J=)LJ-[3B,W>P8#52[NNO445Y1\?W(
M)Q''4@3J_(2U`F.L*_MO/MNI(I"W0/OH..@^W`Y,`@.JVS(:UI9X=FVC1=7D
M6V*)6$CB;</9%L?NMK@=-G$M+ZWJRGI_43LV\+!_>Z54WH9CM+NVT=P6KX)M
M&HV&933,+;%;08$'&H`C;<=QFB`%P<"RG"TYSY:PVHU<RV857?SY#QPK=A@.
MA^PG'-G@>M&<`JY75/S:3A=$V"H9MQ7&$QO,;S#P&EMBK5I&QX3C=+=$5K2-
M9MLTFJTM,;^WA+=NXE:6&W.MK[HO7.?[PO79/>X+U[?@0/O"]1?9274*UQ>Y
M$=]&^>2^<'U?N+X26/:%Z_O"]7WA^IO!EWWA^MJK.[M=P[8LHV.MXJG?CKI6
MQ^BV+:/=WKGJ;<<QK*9E."O%P;?BY!;F7C2:6."U:T??O;KU3=_UOFZ]/#;1
M;=M&=ULREK?$7;PEQ]@C5Q6/L8E;J6PA3V7KUIV.X;0=H[6P`>4;PBJP2AJ8
M.;\M6=F6#996!^YG2\+<0/)FLV&TS2U)/ST`%M9L&TYK9396*?VKU37,;LNP
MUYI-L:];SVBXZS0,I[DE/!9(V#$->ZUE7Z^JB)AMR["V1@)V@,,ZV%=R.\ZS
M)>KN1JZELOIN50O7&Y@Q",3>VA+UHVLT;-.PMJ7I1M>PG/;V%`"`HMOM=HS.
MM@C^+5%VFQ:P8@L'T;YA9;>R=>MVQVA:#:.U+:W6&EVC!:91>_5F#14]3P=+
MO$$162?VOZ8U8K:,1LLQ&MNBP#>:@&W;XN_!VVG;P'#M5V&V.URW+G+]6]NB
MZ6*[G!;<X[;0A6&C#Z6Q)4+2LK#=%&CO6V*(;(O381/7LB];GP)R%_N]@F6T
M)865H+RW+7M['(A@L'8:P&JW1!`ZV#RN:9B-+='?MX35;N1:7K.V$MXP#(-$
MO62EQZ>.A.O0QU-K2CE!V>2//;>O[BR[[GUU9Z5/LZ_NW%=W/N%%E:GN-!>I
M@&^CQFA?W;FO[EP)+/OJSGUUY[ZZ\\W@R[ZZ<^TU4*V&T<*1<IU5>E%M1_67
M27,M6BMUX=J*DS>:1M?!SGN[5]$KFK@;W97:=&[%T7>ONG/3=[VO[BR/W9KM
MQO:D]6V)QWI+CK%'KBH>8Q.W4MEL]\I6=]HX!:QCF-O2\[<-"BH<Q]F2XUBV
MT6R8AF-M2265X^!X)\/9EDK[@X9APYF<U3-+*Z5^.18E=)AKS<C>%W>*1W'V
M3,>PMB6[Q*+D\'9C2]J0-^!FB,ENQW$LN)Z.8S2VI4O\MBB[F[B6RFJ[5:WM
MM(`-=[M&U]P2[;!E6&U`*G-+E*DNT$?;Z&Q-UP"0DMC,9*WS&/>Z[K.OQ32:
M."9SI=A5U73=JM9V8H<8'+;8V!)?&V;N@^!LV5M2A6-W#!M$AF5MB7IH.0TQ
M87Q;NGG9Q)R:6S.LU&D9C@TV5FM+%-\W4]S9!(,#2PBW1-7MM%I&N[DM1KIA
M80Y):TLJ5=MD5;6:6R)3ML3EL(E;V1=VSM@2'6K?LR7:!PB-5MOH;DM=)]Q,
MHV,XSI:(#0R>F<WMD>E;PF@W<BW+U75N;CQF:>FHRNQ^X=>NK6+U_V''/$I<
M+V#]<#P&!7XB*CE0EP_O>#3B[@`>D9[LX%8H^(.Q%WAQ@A_=\7J-9%$,[Z(_
MH@>&@:P;Q^Q@#"O[#ZSOQB/Z8U^^+!P.O3YG_#^I-Z',NWHM'+(;679$W\2B
M1A9CN8W,SHL9/'AU_/LQN^<1_&GB>PF[>6`1'\+O01]S24*6C.!YV+A["U_A
MOH][GD3X,EQ5.]U=Z*=C#CN!!>()[XNCR'<=O>PMS+_]ZE;M+LTB2DH6EN<O
MJU=9:"45%APV".\C=_+W'\2_]&*L*(X9QY)BIM?NK?<,FZY'I$<N>3\,^IXO
MK.\5RZ]>Z!9$88MM+G22/VM[%3C;BA,]W]+95JUGW1QA;$;AV>JJZ.KLY)5K
MSEJR#D&$B:28S_6:>LVC^/T"^%2F+L,RQ=--!^U2H]U8Q39]VR4IZNA/FHBQ
M'4=_4KYH-:MQ?F'SQ$=6(%RO]<-XU;KRS0C(S$:=T=>?OW9N.M=K!U10B:T;
M5\DJF`_+156TVP>\IW3;WL-.P.XIV2RKP.[UL_.FTO+6I2ZMR6=F=SO8%7&M
M+WVU\VQD.M)KWL\;+PB83ZCGR8A'[%']=^OX'<@)J[W:Q-JW8<J_%`!MH(GN
M2MV8]Q`L0K`%-HR]'E6E@J;W]%;MH^:D((X?JP&==^_Y0D^_'5J##<+TQN=S
M+W^1J;;BJOJU@ZQO`(A;C>=I6BN"8=N@"!I&`P=SM%;S?^RA6,1%T&O:3:.S
MTO",)T*QDB'<M47QKD=@8(2^']YCT%%&[D;A?4Q!R;'[[S!BJK?50?R>@:'_
M(X//QL`#W\.36!\$7WS`AK?%Z%1^(M%BTK+V`<HGR:7YC=B6)N!7Z""[J7T]
M8^-;&J1XU6O>NL['CS4S?"NG*4LBN.`1/HQI)N%PG1M]?M[`GN%5\$BRI?*6
MG(=:SM=KV`UY2TY4KRW1P_AM'>A2]+C;FO.L79QLOF7\\JRX7CM+2=5?R?M5
MP0[&Q]+"><&#O`W`')BF*5\/%ESWEX7MC?<@VH-H#Z(]B#8$(J4:9#LX^''S
M0'KY,(0"2.G^I]=,PHE<<&.)RLM%<TI&"(W<8!`&M^Q+&*4>4XX"=AR.X7L/
M[+,W]I+2`5E;$XA;V?N]1/3-:AB=UBJCY_90@U4:AFFOEG:Y!UK-7K&V?0\T
MI,^NT70V'AW?XO0"RSIZ7FQ40>#'IPOSYV4N*0F>C228;S]?GU_W/B\X[08R
MN9^63I;/P6F\]%XJE\W^!!&\#<=>789NPZE7%X+;<.HG2+%J'/N9W"T[_ZI"
MJ+B+1T3//HMDZ2P2.9_4,O?)(_M8ZK/W]8R-[Y-'UG_-^^21BIYFGSRR)0QO
MGSRRIO/LDT?>P('VR2,;9[7[Y)%]\L@^IKT'T1Y$>Q"])1#MDT=*DT<D.#^>
M')]?]JY/S^'3(`QX=7-*PO0V=8-;=NPE#^PR#&X?X-=]<LGZDDLL<ZMKXS>3
M7-)J[#-R5@3:*EVC]P!#VFP9[95:H+\YJ&TZL<0\6@]KVR>6[!-+-I58LJKX
MW89CKRX_M^'4JPG`;3CQ$R18-8Z]KJ225070/JGD95J3F-U]=LD^V/KL?3UC
MX_OLDO5?\SZ[I**GV6>7;`G#VV>7K.D\^^R2-W"@?7;)QEGM/KMDGUVR#WKO
M0;0'T1Y$;PE$.Y9=,J\+25F^R)/4&`H)3@-Y3D,1,/2?G/2Q(9_.4G'@\C!E
MUVA6:OC(ZB>PC&ZE)G6O?H(J#;1^`OPMPUEI0LBFC_"TZ(F*F*P2&*Q&='X]
MN7?V:O+C.<&N?>Y=%?)[NH;CK#)&:P\T6`6$37<]D]]V"&C[U+N56Q(9SHH#
M:]\8U):,$3PC]6X]";+/$.YKMX+V67A5S==Y9II2Q^BN.,9V&X[=,+HKCO;:
MAE/O7A:>;1M=:Y%U4=5CKRD+SS:/5E.SGY6%]]/`N\/?_O93&A_>NN[DYRM^
M.P8)<LDG891XP>U'+^[[89Q&_)I_3S[X8?^O7^LUQOZF'OC,W9C'Y\///(XY
M+_DZV&H@D;[#DL.__\!#_]O%2:?3:!S"?RS+,@__:9IFY]O5]<=OC5;S&T[B
MLNR&]<W\X5?<H=R@V.YFT][.SJ]/F,UR9W+C%]:[NCJYOF*]X__Y>GIUBF;P
M%<&M`KEXFWWO><#^X0:I&SVPMDA"-"BQ49K1^;;<_G]2+^*`H>E-G+A!XKF^
M_\#@?U@X%#F.+F!&$K/P/H"OW3RP__'2(0_8GRF^^W<PTO]`N]T-!O`1_N'_
M1OB[%]#3^9NF37P>_-MS_SO"3_[KL7]YOH_Y.6>`MR/6B[C+#N#Q#()PG\>_
ME+^9OH'_7WC_),*IULE#_OS'7QBF;>H+?G+[20@P.@N/6%O_YOLCAAFBCQRU
M7BN^"T<&^^D`;L=E3?.0DD-]_+:/5`:4=`=7!-^WC)9E,;<?\;A>"X<,3NMG
MBQCLW@,0(.0C[KL)`'TBLAV\,&!#M^_Y'GZ+H#/Q)MSW`KS^D(86:U_E<+,3
MY`8&[1@7O$D]'S,U8P:D34N'XIJRMXMS)QB]9Y,TZH]PXY/(ZV.Z;$2+9"@C
M$>/>A5.\LTPX5-,`;F`@RXB]&/D/(!'#/^''\/\`(-9WXQ%MJ-&FK[-XY"I`
MS**H"`KAAV,XTE6"'.G.]5-\?<+>R5>R@Z'KP=W27]XOEV^K-.T7)O%7>JT4
M5\]^ZTYPSU?DVE=\DHC>A&5\FRUDUX(E3+/K/U/?0R;UFQM.\;#_00+]4S!K
M\>P4C_X3ON![[!K6BD?>A'W@'A!KD#%KY-!,YZ?R7?5:\64YA\Y?.8<_LSGL
MN5[K%/ES?D?L$P]NOWLNL6F`4$*LB?7`WHX"_G#H!8>X$/&O,."97$,(13'"
M3;VG8Q2AA4`B<H45O2`))8#Q#F*/>*Q[&W&./%;P:JHE"//UX'WLAH]<?XBO
MT:$C^.PR=U,B7.JU1=+%-MIV0T@7-E^XU&N/21>V0+C4:TM*%S9'N(#H6EJZ
M@`1I@?UH&DVGHPL7$AGO+,MHXM];1>EB&6:S;30<6\H7MD"\4)2W5+XT#<=J
M&,U.1T@8MHJ`V09V](\4"*8MFJ0^FQ/]PP.5+V"?/8GAZ7]'7**\8$"LR'_J
M-22`O\(TYT#X@=`9YS.APFOJM<)[5N8ZW7E<)W\+8B@\XM$QP.#Q!JD`18!(
M7*^5,J)AF$:2JF;Y4!?Y$!>L`;=MU&O_3(,QON':P\L"?I']1N_YOY'W'_%U
M[@DJ6P8*R^JK[687V=YBAO*VM-6&T36;1MOJSFJK#</NM@VG:Q?X21O83\O,
MF8G8R&K*JMDQ;+O]%&5U&WA)WG795`SEZOCWX\<YB;PZ8/>*DQ"O2``E#L\!
M#P@U<M:!HC,>I=X-"N)H7&)'4D8\PX1X]LGC_F`>C><_(9I-/U6O:>336$`^
MS58G%\=]6B6&5>JU(2YCH+)RS^&T;ER@HZ'W/4GQ*5Q24I+'9XDA7Y'1@DL0
M17Z4>HW.(L4L"$V[43#4B#@&"&,@TAW!U8LTB@&3$B8TONPZ@R1"]AU[MQ(-
M"7V!TL_@I@FSFP*QZS5BBL_`4'3'A5$!+XOB-^+]\#;P_DN::>;K0?<;.[#>
MHXIH2XSLNQ,/44&<`C#0+7)PY@[^[:)5JFNNZ!"Q#'F.1YD[H%@0<%]@*M5E
M2`8/++^$PR^O,*H=D)2#(\*NW0=:`LYQ^>6#973:;>$`<"?PT'=O#,L`\WAG
M=YM&H]5\S]()4$DXW?*]8:K+%9`&(KP%5?Y6J/#O&H9EMXVNU9!7,P$RQ+<2
MRU9<"22P-T['$K!R8_'[7^AX!S9<`I-W4*]I;`%_(FL\QBT$@(G\.R$6P@CY
M0(Q0N!]Y?:FGNT"U/':]P;3DG;T+#U&YY#:`=<Z5MR6W`2(.L#Q)\4JD@'>!
MV91>`8*J47H%#EQ!JVGA%<!)Z[5'KD"P+0$CH5+UPS0@1@A<*PT&B$Z?>E<?
M6._JF'4<\]`R#^TF*Y(->K.+/N!+02EXZ(+6)X]=K_7#F`ZCW3J^7S)WHB\-
MYCXRAAQX<E]%(I/:[-"+8.7_`&4FJ.8-B3QWA(=>ZZ:"'X=@1P-:]KE`-<1Z
M`4F\A;';'X%6"&R'P#?(W!&E`$3&.W;_0CI54/?&<$%WP@Y'OS,RQR!.(HGJ
M1'$\".]<06-A]!?J8RY3-U]`7-`.`9^;IN&@*U/0(>(#+AH-A&]!(Q58.SM)
MO98=Q<AD;3B1TC/39N;0<X%9/D+0BPSR%>SQW<#%4W'J&+%B,(U.1;':=Z/(
M0T"EB<)8!"E=S;]Y7_!L#_[AWZ7)<"-J174FCO#7U;S2:SUBL*T);,7KI[X;
M%;<!O">-0"5>!I7CQ;ALV4:CW36L9H,P$O<^K3`BKYN2_*R)!^T:`JOGOP`$
MK6F8G;;1`@&@UI^19[0(?!;$8R^.\?-9E)[9`VU`"`7W!J@;,#R_$);=Q\B]
M`^##78P)P].8#U/@P]Z=4+?I'!WJTQ&C!!N0<).,@]2G^>2<,Z8=(13=2+-M
M8Y8^EHD;9H&<:??/9W10]%TO"Q"R!?'!$M]/%A0LBOSBJBN'_2RS:/T1PLU9
M-/.7`";!@XL"?&V@AT4>$V&Z/>J")?HQ9CRQY7KU*IY8(:%7]9R@PM=J@.;K
M^R1SIE6^KM'M=HQVPWRO#$@!3\77^/<))_\\$"7`)AWSPDDR:P/T`_]A9@/2
M\.=P2``J*0?UFF+G<'TVB%;\,>(3]-42L0^0.$@Q/V(]9)UXX-QK3]X@1&$`
M(OP.+Y76'7(C?A,IJ\K.]U:TZK11Q,>N]R""V6A8"]:L8)D97W0);M3GY-P@
MW$%`9NK^7.U@GK9/BM(<-%G:OP8\$<`PK?&7VURM3J=$W:<(,(B9KBWU_6F+
MR]X5S?<$A(:Z::4<#(GA>-*7,^U(8EI$"=`1^$L_\FX0[U'N$=T%(6JVFBYY
MC\[<4G^\YGJ?Z\K*7<Y\X6X''B`XOGL4^@.-@8!\[?,@SGD%$+8?RJV1#,T1
M#UVE<F5C^F^@6.@;D'2>'67D#LCVOO/"-`;:O.%PZ!'`+?<"WB++#1`]M</^
M@?@+5(3,ADS/0IZ'H;\+7D'`I:4S\`+2T\F`KE#Q&(=!,HI_$721KUO05SIS
MEP6!.+WNR`.>!2]<9N&N48BF+-QP['W/UD10WR\"A(KH++,PMCV#+Z,7('^'
MY.W3V%Q8J("T<HL*H$79D-E7B=+X&*F,0I.,44_+!!7BE$)QC;CQO^5Y<8^F
MN16SXDYR=(8?"=.?F@;'TL`33WEQZ-A6^]O7JX\_L`'O`^?T8^R9]FO;;#B@
MH.?;G7U_<7_'H(O'O6`@_QAO='>6;;8Z5K?;S/<W_?[B[LYX<@RB_P)L<@\N
M],/#5S#J3P,A,D'>].!&[X0O>Y/[;G9-I^W8W7S;RV]L&MQCX$+`<6,P*TZ#
M?CCFL-3Y\-K]OM$3.`W':5DM6P?\W)T4MRS^]CF,XT_`>X]ADUZ0PA'/%3'&
M'SAJ&N)[\#B/OW@!</WDX90R'N($[K>XR@FPY>3A"T]&(?P%#"RA6&T6!$ZC
MV6PUK!P$+WBR(DBO,/3W`1U4>`MP!8*I;90Q.!W+,4TMO[=T#U/,RXT"U.HN
M>$1?_^CY*4K,M6[T&T#[FPB&ZGNV?_C5/.IH)#=G,\4=GZ.RFE&AN)K-LK2.
M;9F6!M>R'<P05(1"!-1:^O<TZ`D'=7SA/F!:-B`5?!*E?`#6XXT*UFV4P36M
M5J-5H(PG;+%XS`L9QO@41L`F^YP/B$`(/H(R7HZ!'UH-0'Y;.^&*NYN^04']
M+R'1;<MVG`+3*KR[N+&/?,C1VY=Q+/FM#SS@0R_9+(SM9JO;<MKY5A_937'K
MUXAH:?1`N0YOM&;`:A0#1M>7)[VKKY=_LJOK\^-_[H;1>BI3O68]XA%76O<`
M>P4;35-+@H&+QE07,`HHUZ688D=^:;#QP$##/"WA7*(XVY'38FA%TCID%;@8
MI$773!Z,<SJ&Y;1%@$W8!.AON'.SK)`/H1L-R!3X"-8BVC7"J9ZGT"X^3<<Q
MS&[W:4>PCCK6HT>PFI;1:396/<)<HP@X'WQKVEVGLNT228I,'`0CJ/!X;H63
M!Z@DYC-K+)43]90RE/G,3NZ0([]1VK>=(NU???UP=?(_7T_.KMG)O^!_=Z1<
MZ(L;`'Z3DP\PBW',<R"W<>X:99SNF0U!WD[[]BR+<BP01P?PF`R:8H;CT`O<
MH.\!QL?H-A7V`H5LA'<@CBDY#N-#]R`@@=)<SZ<NY;#>#9=?$'XCW!D@EXS*
M)R.@S2!DZ'Z,/$PHGMTKO2CLBU@:B[T`R&5FZ[02!MJDTRG*\P4P,W20^0K(
MEY%B6_@(_<BB]WMV0&0@ZH1'[&IF+[3?L?L@]B,]U1G$D`70685G>Q[0,K=*
M=D-+D/-<4BU2=&^,)8/_)8,"'27((WOH8]FL?0=Z4DO3/N;N8L;%D%MP&]U@
MP^PV[7;++'@1\G=/;2L,PJ(1\1+*9K-MM37GT=Q-3%=^WKK^%S<!/$17CC"D
M;SD@'G^SW'Q*D_M\\EOO,[NX/#\^.<&.#SO"S?$--_CC9[C!PW3">BK>1?N@
M/^T&)'15"GA(X@-_1ZOW5KAN//+>!%R+/C8-NVD^K2QQ)C1-#H^X$%ZNUR:P
MAUN1=M`/?0S_1M+'WN=1XL*6_-`-I)S]`R3,\0CL1G8L,A9`5*=^XAU>)1A]
MO'U@GT"Y9)\_'QNSWV47;I1@G,?`+Z`(_4FHJ?DW5?P9-<OD@1W@CA`:=]Q_
M,`IGR9XI'(=B"M?AA/T3H]Z_12$@F^S0Q0[TQ]5WIC):/XA`,OL-PTOT>+U6
M^KS^Q:DU4#6`Y6_#<,#(S`YDX&+.4O*[Q7-,G7PF'_=W>"]`<BI1?"=HZ'26
M2!#1>\!/!J0Q9MR%5)E!GHSLB`K&>NU&%L.,,4RN$9,H`#``L4#C89]([>$&
MW&+_"/XTX@&5K/R>`L[^"83Q&RSK!HE8+'?39ABGG%H/L'XT4>'(V>1J?66L
M<2RB@HJ.RRLOV(^8@Z25`[ILAL-*&+AD'7\!=<\R!13*DKQGV'-A(QFHY4ZR
MG65SBT#G1!8SDG\O<JJ?V1=50UB6PY-5OHU<+Z*[_X,'WZF&Z,]4)I]X0])'
MOT1'<IG_&WG:@K&,[JJ_TP:_@/;[9TH_9ID1O[LA=?,[#0:`E8`:DE,D`[AG
M7$$8#-DZGBB$H(Q[."L>0SLH)D1Z'.S9[[R?(L4BCQZ"*2Q3/D!E%[8T.Z#@
MLCO+E,5"T^G`F`H\Q07F/;J3G.!KYL>8P5QC!E%U8(F$&\P!1",(OOF0FS,B
M3.W[]$N,93!`Z2Z;I#>^U]<CP#*%J5X[OY.[.*;\\(A]2.'60'E5[A0L\X4E
ME!R0#A'^'9,.;S$)(9:%,^A$09/LAC(3'I:H%)7>(K%D?I[Y)Y>5`_X#YES0
M`#$WR]6@S)]0V8(SS(+-\(JO$U:B4[!!2DEGHE(![BL<T#91E<>:MJ"X-!4U
M?Y]X4?;'"(BDJ^SX\C?#75_0RE/)<K^']V#?`DD2I0DH"%+2H$"6NRN*'@SL
MYH:Y8N*6(^\.S5_MF@W2*=P8\[`,_,.`&^+O0WS/Z&&"J4V8U&8@.(4ZE2-E
M!B*13DUQ7F%[RZ3\?E8%@ZDL84S9=S.[P/02D#KB0#^S`^^]=LT(W8F/T8^,
M1=.K8NEHDT<ESB92V",^3&/7EZ4AGEQ-G8J3:R%.`8)E``%H(/E0ZC&)GZP6
MO43\P`*88!+J$)&7$0.>$Y[(UT8B#P^^.-X1!@:J#$ZJ$V@6IS?_ENDVXCY1
M^1`W>IGZG%F.DWMN`80@;"(1\^KUR;]K=1N-HFJIGIO24#7:`(1((TK-$RP1
M+Y[^3!DQBO,$8''+Y".9:J/+?/WB!5$2[\2KE#>[5,F[SLF(&@-4T("C,MB9
M*[Q3\%ER'Z*CFPK$#NP?W^?^9G)VK\@R"QZ_,$TP=7@@*J=+F;[LP8`0TAF*
M!**DC"=`41SAV5"<"A[,AR+VG<B@:&505+T0\C<5+,H<6$R'57%#NT.[0E*)
MN@USOD[+?/1L,8Q\@SY!Z9.H25)C$+)%-(&M/SC]'"7!,O0+HZD\+>IA)8[I
M[B``B8UJ@DAR6_@PM[0Q>PW,<2$>T,*7!1%2W)1(73>8DK7G"@*6I>JG_\#:
MPBFS?!8"F1R$-W/T]R$\0#"-!2'`N?)U%%]"Z^8&'E)YEO#4.".%6;$C4MJU
M#,8<#L6`U@T'P8FU&?1>X6)W;[#<ALY6KUFRVX0.20H-Z&*+G"-$X^XX2ZO.
M+F8:\%-^%G$"6&Q'*.<UW9`O]S9*BA**_Z<P&K,&&WJ^R!/^O7?!KD&1]-!P
M15=806C#7Z=<='FJ?R[SD0>?2`N"F+0L9"HL=75R7-3,431DQ>&66=9'A50,
M$!^A4%,-##ECM4`B?0@B.C4@?1</,J*$<7:28B(V=LC'/@F?/I_\+SN?:&:2
M)!W0Y_4-BJ^4%+S(9T%$C;T$'1CX*N1J*M:<1;>QI@HK/#0?*7[V6^H/V26/
M0W@`/A'R\"#BTOXAQ:58+&(U?RQ(P8*(RQ<FM9B6@YM!\GUG'EEVD^3]$<MN
M'<-T*5V)U,I+')899T3EAUAC\2I$U2^\8ZQLAIR-8%)S&JOT^IS#]TG*TS("
MACO"5'IDL\:<_U7PZCJ_(*&@(A7Q/O?NIOYX'R%V!9ARGD:H;PL_M^Z2%K9:
M@J4'LNHAP8(?`/6=%_H*UBB!"OZ'0CL69?X*D9?[^]U;UPMB_5IQMXCJ-P]H
MJI&GR657*>I@LE8#30-X*K,?KU)`Z3$Y'X0XSVJ"R-Y#J/T91G\93/TDW!0/
M!F)IWJ=!F-N"^+3WB7E#XH5`V/Q624I-&E)U?FZ\Y."`6\D$LO`5NF5GQ>=!
MX@:#,MDNE&(=M+(NW[V/4R^A&X^I&I2.'PU$E='(N_&23*\&4Y>C8,\T:04F
M<0"`I+A+K2AZY@3("$7?I"(!#SFB(JG$9$=%J%`,=X3JM+:N=DO59^*="EDG
M19^C%:N='*L,!FD["NI"=L:_@T'B29ZF28^\[DUE2(CL"_B>^Q>6LTS"..9Q
MK-V>TO3.M:>M9LD&L8N$M,"!XXO=_M33MLCT'<88%K([4[*F7IL2-@4#,RS9
M`G5?ZA[9'11PTMH2..3F'@'83Z-M&QVSJUXEGFHT.XBQNA@%R1M@K7_T%T_D
M:Q'E8\T3QZ0CSK1^LEL_B3R3L%XS[9^L)OVJ"V%!8BAXJ(,8.K<DV0L=8!:F
M]1H"%076#:5E4K8(577A]\,`Y*MC=$&7-IW67"E=]`$(@'B):-<PM0_2/+0*
MG)FK)#5$XI"N-[2Z7:.[0%/(6N_)K+4$V\7FF76&PE+*"2*U?P88B-51F-Z.
M6&\2>7[V^10Z.A(7='+Y$LH-8P(>%:<O-/458R;)C^L@H'>$]?2RB%;&>/#*
MJ8.!4(40<IJP+4;*@.HH_BZ$D]8U$VC\3M%,,31/K00HY5$V>H.+UJU0?<&(
M"YMVP*D271"4VAO&&M#QYL.UT[UCM`'4DSA&Q`AO?/G26,O4+-NM(1H(3.WT
M0!2%XQD*I@0)*]0E(R!&8!CTC3$A'&BR(R)=3HHKXIVP5."N)FDN&#4`JZIQ
M4#[^#2_K\QU!NU?*G#GV045%1R^:2SN<-$.M3&1>"B`DDJ2,M<K6'2IMF1WD
MT>9Z[7\]-[RA[I.I$"M?Z!>#+0ZPGF;M,[%;U!!HQ@V2J6!7GCR*OA^*M`^R
MKRHW,JCC%!>.<P.^3S<JW6U*FR45&_>=Z:,9=QER['KG%];`Q^;45*.LEAYK
M$<SVL&C['CN-X*?H><2;\R@MB]_#X3F^_HC='4U)1)7_(/Y.5T]/&:)HUSKL
MWQV"HF*#-OCQ#P#[Y1_?WQND"@BI!L<3<M"6,3UEN7P-*$N";)68!%X2>6!#
M"$LF:PW(L<V=S[(_H\(%TMV#+P2>.[>DW.<NM4X!=N\-A\BO1B%9"Z+7@^J@
M!H)`W(1B;U)1D/@D(Z,SR0R+O.XW/+E'?)#.T986YY2`:&6``$Z-E9.&KH]B
M(@N5QRGY'NHU!);L@U)Z\,_%0XNB9``F'-$;B^X/1<RZDFDTEGEPDP4!<C=3
MO9;YF/(@DR-(2`27S)O#)CX4<9)5\ZZC[%BY/<EUDAF[`RSY]V,RV4`6X4V*
MY)(\^]@+YM]&3W2)$#-'J'D=Z?68'8H0$)8Y->!A8DM3*=AF1W4ZQV,*#QFI
MH@$9_Y$WSKI\^%3!0:^Y`1(2"47"#DQ&6&8(5O8=NM-$'[](3$X6AG7`T8:G
MTD+14%.8^X"=TOK@62YYWI<%WOI0\-3'!9:(G1)BZ;\F^)R<%V%#X=AZC<,=
MA**)!E64B"WW50!G#DG-7"'<*NKF`LEBA67*JX$;R#DHRQFHN(5R1+3-`[<$
M$5D9'LJF,;.8)9P"`W?LW@KS'LRJ-,!8@#?$;EHB(H;ZN.8.;9?T%U)DF<-A
MK#3T_".I,<GA)-.;T:!9TG,67N=/TZQB!2R<@&7K*1-F+KYG6U*ZF^S/,+.3
M0N!#F1R`OR+[006"XW2"&"U*`)*RY7635K`RFPJ=,-P28G*YZDQ?NMT%+V2E
M[P/Y/04CEH.(W$[3C@(9L[$-\H@*VJC7!F$_%=PC\\3K5TTI#XMW<E141NA^
MI+NB?".R:978",GAV;,@/#P1,RZ!"/SN1875Z[5\^8:"OM@6RLV1[,[R`.PE
M2OV\U=(XMRW510:J):!:'G;C>E+WG]IG`7NPU3"Z0<G.$KP;!,MM&(F^*#H'
MD*K-?,&0^4A%&8N/3>\"/(%JHB8JU400&S8<$1L`T*#;QP,S'$!*#B`5A0--
M)S>'CI;06M^R8JPBJS$)15E9I'0GJ@@JE7&D?*"_93:15K0ZD>M2^U(!>Q&$
M?=?LVD:SW3(4.D^W)L4EI%C3Y#5\Z98'%/(4;;"P66V,2>.D%W/9MV/I[BE+
ME(I,M\P`,,`K!I]4,=,I159D8<^%B[@G4?$\\!_>\N2QJ^/?3SY^_7S"3HOE
M)Q>]2RPD/#_[_"?[='K6.SL^[7UFIV>?SB^_T$SNW;$G\\0;:0A03H;`$-2R
M4#/J*S:/WDNMKL[+$6?6?RBLI=T`)+XA)>]$!KH/KD]I:U<CSL%2QNVD99X*
M&APX/3[1-']<80\@V'V<VHY)I5AV1K]/T`4L?M=>E@W*76((+NVV"-!7GELL
M)G1I0^I;]![A`-7Y^GHW.V?6\':`T);3,:U%0V#?QECK^6<SWPQ"+`V8)0[^
MO!>M<R=?`S<=H(]K]?>\_*#O;#KZL2PGIRKG>%T@RI9?^<E\M/J&7KI=YUD:
M<T!_3_BST*5T<GTV0KCM_*CFEV`#W`=I"*"3GI-?HPRW%K"G)TU(7H61E@U`
MKM<6S9]>9?7R^<SU6L.D9N4K8,!BL&<;?ZJ4VE(XKS;[_+D0?AW^7;IO>O*:
M,AHE:\?@^1S>_N+:2\;2ED38E5%AO6160?WOI2#X;`)Z!<F%/Y^%P>%>IWG3
MYWE%;5@U2HQ%?.`F]@:>B[W(JP1TJVL;K4;+Z#3M[<`BJ]$UNG`@TUGG@5Y;
M-19N&W*F8VHFE[GFM]1\0'@;RQ%K:V5*TS:<KF.TVXO<,'O!_`@0'0,3A;N-
M1F4D](MJM0$(^+[2;-V=TVQMIVE8#<MHV1N__RV&H@5LJ&%VC&Z[61DJVH08
MLH^:.O$\P13,5WCZA=`:;!"F-SZ?>]\K>P3FKSI-+P[H%_8SZ65%.&P;&-=%
M,$O!8;."I[IZ\-XZK)9:3U_2QRE0?R7,^IUIP]6%Q<08CZV_@&T[3P6";QJ.
M;3VXM^T\+\V/:-H(#D7$G!I5MD!35?+$NK4#?9%6,<>G8YB-EM&T5M&Z-HTZ
MJY^B:>)$]O:;YS;+.:@P67B'W5.687>Z1K?I[`WK9\#0LII&I[5Q&%;+K%XL
MP+?5*+2-AMTRG-8J_'%O6<]03,MN&.W.\WSB>[MZK\>^+3UVGAW-]F;TFSS/
M*YK1%Y<GGTXN+T\^BIEYOV"3-M.TL+*#X:0B3FS6-`N=?-PT&861]U\.VDR`
M#5*U!G`;L#PJ=ELO;TH=/N,<KZK\T2>G9Q]/L%+ET#RRO""7OY]//L&G]*'P
MZ)Q_^7)^5J_IB&@V-4RD*88+4+'A&&VG:30<6[1[P=\;33!";?5MT997-/.&
MOS9;)CS18*5?+G8Y=F=J2/(&6Z+P7;90I0895>)85MMHM*OD2GCF65J=-\-Y
MR<HI#'<$'.X`WG7S3F7S\"K!FM,XJ1+T#YJ"]E9]Y?LJ'6*5Y,RJZ7V]O&O;
MQ/4&AS@%2TR,JA*$VXYAH>^OW=T.IM-J@9G9,IJ=51PS%5;Y+CEV><#987+"
M.TL#:O`[B3SW2358FTQO;!@-"SCF2C9^A9'),EL&L='.*LD`56-$LRA4601R
M#,?L&LWF.@,1KXH_AMVV#+N[3HVN:H&5XW1,O13ON.S@)!LKN@.LR,_&8>Y(
M7,"VC':K8=BMU@I7O@^N%('8!?AUMSZX8A5#*ZO[";?V_FVG85B6;;2;>RIZ
M3NZO;;0Z3</J5H>.-BR3%L4K%R:UK4YD;ST<M\\7?N/YPC]1LZ'\]YUIQG25
M]U\+A]B7*ASSJ>WMFS,]4X[,M'ZQQ.'^I/ZR)S.]]]:[YWV/IK>AR;Q8CZ8J
MG<U<Y"FM%K(_R7VQS?VG*K.15_0HGU^<7/:N`4G9P<G_7IR<79U<O6>G9\?G
M7T[6!:_*YF[LSU/M\[R*/T:D-G2U5D@MV0OI-]';5R0H%)O[L@4E"-,ZY@H-
MIV9W65QDI724F791!^A;MXVVN5HB:W$+90'BZI[8-KK-]LJINV_YQ`W#=DS#
MZ:[WQ%7Q\%#'LAG*%8)-S"H/)SP2<RE$O^XJ*),OUPYLU9R/O=/TA=N![6'W
MUL,UY]>]SRS3HNLUI47OTE6#)F$_09.8!X=%$G;[8/<TG60/.X3=T[2;Y6'W
MFH;Y]>\GEVP!-]DN6V]_GFJ?Y[6%[3PU7[6NS+H`[!3_LXRNLYZN@KLE-]IK
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M-=VGJMK.>/)X:4SEZIJ>:'`_X1R5._H3K>1M./H33=NES_%:/GKZ9-E>VR"Y
MLEYZ,4M"%O%^&/0],/>"C);Q<_RMCZ;B)`KO/#1B;A[T@C@7.UY3,Z2?MY[#
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M5QWZ-TFC_LB-J6ZV'X['8<!H)&F5H+Z?,+J=QWAI<7`1A7W.!S$;1N&832+O
MSDTXFX!XY'.FQVT%F%_5`X^SH;K;4KUI6P9Z[2QGY<!;-=E_D2#X=Q[UO1CM
M+A(!F-"!@;=*N4VWA#"LSE,$6C7/\D9%PGS#I3>X<X,^EV3Q$QA&2?B>W49A
M.D$=:>(&.^:0L`USC?Z('77TM1LMHVOM6_$^P:73-2P;Y%YWE='Q6^LEU5(N
MV=`+@%/MKJ=TO8[2W61,ZW68[B8,U^LXK89^)-B.:+EP>=*[.H$?&'E4>V<?
MZ8=Z[>1_OI[^J_?YY.RZ4F[4+3$2]L>HLJ3.(PRE],`.V8>3WT[/SG``WODG
M]N=)[W*76.*^H<\>=EL)NXHT0UK(>4[@\]5YSEMO3_.\J]_QWCY[X%4;>*OW
M0UI?UZ#BKEZL6]%9F*CRAI?KD#3WK(6V1^(UA]?G%_2JY5^C=IA=/CSQ:#LD
M=N\-DA$V#Y+5RM/"9UK&).&D5,#(<F4`C$"W^5BKOGFDDH</O$5.QY*[R-Y`
M3:0^N+%'':8F$8]YD%!)%RV8ENYD?>@N_L5SK(P,IP%+1ISULV99$S>"O1^*
M(,##81CXF0_.]6%3JI66@<_5:\?B>Q*G;-/J_H*5/'=<E%ACKJ->],D`0K3&
M@+D)O#5.V,1/XWJ-9YW.TV"`DX&]FQ2_I:I)IYN>L]@+^ISVCJ6E\.=ZS>W#
M(K&'8#]BU_"7TLW%(S@A+J?5>\-O7@*[F-XJ_-E/!R)E,P=17.@G)I=(,:I8
MK^&&Y%G&/!F%`]I)O#2$80_YZO$H3/T!N^$LXJ[:1,#[5"MX[R4C=7=9A6V]
M5G97E`8?(*O!!R*>A$?/8CG/P+<U,=IG[*!'MZ9W)&/888OP66$,8@/WAVSD
MQ@`WIC*(J%IS[!%F&ZSO3KP$X)Q_1G#.4WM][M+%9W\>AI'`D-7)K8(7MO/2
MXGGBXI(CE^LCD\/(1X]*'ZLN+J[Z(SY(X=I/D8AZ4>+UX9?FH>G@[Y?\-O5%
M)?/5X?\"TP)&&`FFDZ.\SJ*\`$AB+)Z`YR-^2T/A@52`2_L^<KZAYP.$[D<\
M$`(GRL&&#%Q6C%)JWYQ&`XQ_QQ009C?K-:!-[-`U\WUM*9=6(SZ.U"Q^'(<X
M)"_B^#!0*)*KS_'!H1?WX2`/(*>.V*<P0EXQ"6.>+>+>A'<@IV#7QI,V+P`Q
MYBZ>WX5-N.,P%2?`Y7.0%:7<)`HG882`1>E8D'GBK?7:PM<>N,,$N*.'W<PD
M<V+<]\9P=90P\[Y>`^._/YH/+B:@I4.(C=T'E$-PK\`'8=/QD$<1O#H)Z3'!
M#)EZW\W#E.X@=!5$&9+W?@@K&,Q5N0P`?>K8,O`P>A@,8I*189ID8E)>O0L?
M>-$`Z\0B$-0'WA$_,H!=`X9&!H(4L3B,'IA[RX/^@X&OY-YMP&[A+J.`V#^H
M+$G_Z'T%^?)+[>"Z1)!E=U>JAHQ<((4;S@,,\7)\@I0:M]\/HP'>H5!J+I'!
M6#8P%7AA@>'D#`98$7`8-Y9$,(>L\(\%%(+/?DM]P!W@OB%(=3S3:=`_RGG$
MC^JY>?QA[A+71.U8LOZ@UBA50(]'7L!1F<@UA<(>@1@F0"<Y%B/5W!1..4BQ
M1Y'0)11NP@FHD!XWGD2ASR:P^[ZGBB#O7,_7=B<"[3>N+TE'[E=LC97O[(A]
MX'TWA;^[H*;".[VAUT=F+3G-PE/+)0&HM)^(W_$@Y<"&D#,A&J5T,OP;$!U^
M5R`';LD%(F?S7XA\5:P&8,)-H]$@U^JGP&"`AHD;>7?X*;P/X!H2*Q/ON/SR
MX0CN\\L',D_2FW^#BJUXT@Q8HUS(:=L+!O`_>!J\IM1/BNJDO,$T()4)5LY-
M'(9_S^X:D")-`.#$K&EM>=?LXO)XT5YB*1T4DLR_"(4$L"8L`_PL873R`#[X
M>E6O?0Q]WXUF%<Z?8)/XV]]^2N/#6]>=_)QU6/ZDB/TTE^?GPPOB"'(/YZ#8
M?@1)X(=Q&O%K_CWYX(?]OWZMUQC[FUH0*`JNKC_J!8./<*-^.$&^<2+J=NG0
M\-PE'_[]!Q[ZWRY..IU&XQ#^8UF6>?A/TS0[WZZN/WYKM)K?4*6W[(;U#93%
M-/#$4UX<.K;5_O;UZN,/@`-];^SZ,>J3OS:ZG8YCYT=;N)/BIK5^8M=A#U14
M$KK^A>L-3H-C82/\X48HHD_C&`N1-WD0IVG#X_E!5MY=\7#R&Y_1DHE/@^RB
M\Y;:Y\//'!@C+[G<)Q_T5\0WB6XOXH4[OSYA+9;32>,7H#?L=GK]I\$N/O?.
MKBD.@1&(BR\G\-O7LX\GE^RX=W&*0PH_8^[`%:@$9R?75?'EK:V1^T6$K#L!
M+6CBN]+&1<6>*`*]-3S*3&&R>.%Y:IX'3`FX'&EJ0D[Y?G@/[+F:[LY]E_?5
M>ERW1![QC#-EO9O=MW=_&Z'O%VOO_HJE)#WAL-XWHWIKY]E@.D.Q$4UWDO?+
M;3O",_DA]7R4!HN2EBO7*MAJF$;+W%"?X`J?>[4@=^4[(R_1.ZDK6>X%ZG9@
MOH)R-W;[Z`:('JH@6%XNO=EIMPSGF2/(JBF<]WEIB]7$ZQ!LERI)01N8;]LP
M6^N<H+K/CMY(=C0Z/WY&#W8Z1D\<%ZT8(][WA(N0?*]C=%?^-\\'V1%^<&"W
M3<-RGC=);R?K`=\B)WT\\1'#W#=A^!>[<_UTT<"4;<N=M(T&5L;N)W/N$U"K
MEH!ZG:4HW"A#E7$07Q@9`_$U<:,^]\G)YZ,H\\.^#)K5:U>C,+U-W>#6P."4
MP40@S_<Q/^V.^P\LO`]$#2\^Y;,$?H]'WB2F4&F6.BB3K!(*##,5(`MO$M<+
M*(T!G<^T5H1/LS[\3G'`!*.'&)#'6%>L'T"&A=4+^I1%AZ^0J])14@S!$H+%
MA37QV/@T>;;]!XPG3D'A>3'_-X,:'],(#X^PH.0-/C/*4R;.32L\E*.2:3RJ
M[R[<*JC9L,([N]4TS&;;0'B*)))W5MLV++,AGGZ'#76:#KL'1*3Y/!&^&"Z5
M\D4Q$=3->OL.QEY`"3"(<UF+7XJ#3A0BKGA?]*&:)R13(][J'?8"Y@$1>-%8
MIKZ\:W4:ANFTV+V+B04#KK)J8IR#-&#_2=T($W_@JWBY]=HP1/H*X?Z\`9"F
M3()0B34\&&$"09YEZFK3E62F!X\P*"PB[8!'P!@$VN#7]03;^PA4C<-P.&0_
M%39-V2(+8E"%Z\7_TN^ST>KGA#*+4='3H!_A,D`+].]IT!,]IJ_=[SR^$,VG
M-Q?F/3W[],.OAPVGV6VW.OD!E]I5\2"?1.[(L4R2N,:4+)?2BW\#/ODYC..O
M`:SE>__=<-CZT&IT.\VVDY]FE:U-!>0114\S!#H>N1&.E]CD]MO-MMELM;2P
M>^D>IF+KP,W.AY<B=66CV^MTFXV.;=EZZH;V[N*V+L18`4P7Z%/^I@H`DXNP
M%PQ.LN#O)O?<M+MFNZ%CQ/(;>XQ:+SFJ`>XMWSBIPD&Z'4L_Q>.[*>[^1!9`
M7/#H"K,XL<JDO]X-?P,H?J,4T5C?N_W#K^91IYMOO70KQ=U^U%0!N)&>K@=L
M$LA6N]5M.PUMLPMV4MSRN<IU.Z5"#N0LF\W0<>QNQVEJC+MD!],8#'2*":EO
M/LFF44RR.3W[%VA9YY>J1_'6Z]3J)CTAD&2"S#XC9AO2.51&3/ZF<)C_K.RF
M_)-]LLP^6>95DF76@1!/"@G-.?CS7E25G;Q69&HJW^32O0>['@X'INV;RCGI
M.*N/*MJ&G!/07(W.BDTSUY]YLJ9F:I_0&S?B`W8;AH-*=55N&"VD.6<50%<X
MIHZS<5M&N[W.%(&JQ=9[F#!.96%4.!W>@"SE5#$#B\&?#L?A'7JHO5RIKH)X
M?[FFL8[1:6]JD,TV`ZYEM+J;&I[T*I'U%6[OK8>!'<-IM(UN^WG]<'<\EFX;
MK39H'27=IA>&P&>#*HL\4U-NY7G.VC?OTVJN4#AFL"J6B&WDO0OKQJ9+Q-B^
M0FSK/#9[?]C>'_8F_&'[XK'ML(G?6O'8?#55U.;8[9)ZLGKM"Q;GN+XX^)MR
M\;6,AM4QVLW5\F"WP<G7,C#EJ=W=T,E?AK'-8B=];5&%XZOQ`L<$&]$QFG9G
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M-AJ&979`5-NRC!D^Z+1`!^UV$`!N,EL[35>)<2[L.O_D@N6W2BYR]I`^(&!V
M$@N0B._&,5P1EJ!JUY((:+%XA`%V3!%D_2@=<`WMJ)N\*AI_9Z/4-5JF"5K!
MY9</EG/48F//]T&=?&_@T*8[+TQC_Z%0E*Q0VA`-LB>YMS+O@4NO%JD,5!4I
M]]MW\SD](<[=8;$'[X-3BB+J(]D"0=:N#[U;<BN(@NL9L)A9.7P.#FP!#R^F
M@0BR7;GH=YZ(Q_1!5$3QL(!'$VVPOKJ?2,HJS!S*)QH!SG*XZ3&Q(2#.8>HS
M'W::C[80M>#4<YV&8^0[NY<<1?0K7]`QX:WB[L::(X"NZC30W6P7^B.TC`;F
MQYM=R5O`).@`>VDWYG=)P`P;V1B_I%<"(+!LEK"3O&>Y^S.?<']P,]TVNMCU
MZS,-&XQWNV'*Z^NT3*-K=?>7M[G+,[NK7Q[<6[=KM)H=G?;:9'VWS(XBO8YI
MF$WS=>Y.Y,J\^-6]X&OS5V@SN9;ZXNNI,?](`R[Y15'/56.BU$"9)$K[:G*)
M2VK,0'[@>P'5.:#H3/@]5G"Q).*NF!S7'_&QA^J`2R,<4`C3`S002N!OAGZ@
MV[1,I=FP`]130$G%54!'>-<Q.@U04DWSO:8ULQ[*;]1>B%"R"5/OG&8#ORNG
M/)6PQXA+)8-T@'QZCK:E>T],\IJX'DUZRLP9=HQS2*Y&/+C]*PU0&](`=!P>
M&>QS,CABZ03A%4A:%W.I!#P)NOAE'-*S?3H&(-;8&QQ^<1\TO5@8<C@-)A]&
M19/60%>3D[3<O[A0ZV@<PT!85W`O(5A77@!/?P+=#\=;G85'S"&DB_@@'W,B
MF!98.NB&A07%'$,W$$JLL+TRFU/JG0KE`[BCFP?Y*;(ZX'O(JPNO%-:G0A'M
MTA4*XXH!OZ_7BCM%K=*=`-%\)ZT45/5W(%3-MM$U`3J"7=\3(U9T1QP;9^)@
M5Z.!/H0(=/L,G1&Z&C7T&*K02&P(`X+(O2NG@R*@:00<CB,2)L(G?A.E;D27
M9.=C.<5%74N+NU[3KDNI^`*P\KQ3<*5U7)1:08IC02>B^XDD<,LTB2X/IL!A
M-;$DZ#W0#%Z!3J_UFFTVK!U1$!"]M+N6$)Z#_R3'XR2<3+0>5?7:/U+9J4I,
M2A++\?Q^!WP<^IX^]VHHER6R$&.IR(LCOR)-J#P;/LMW440$**\6H6&".#@%
M.V\-O>^D89"YA7.>-`\*#093SJ+9=0PQ?$6SIL/;@-HY9>VV"#Y@4#0ZCN$X
MC6)#L'IMJB-8L6T7?E'KU>5C\Y1B*Z]ZK=#+BRUNY<5Z+$[':D,.(+G=JM>0
MIK/Y7<,H',_GA'+S--]/:V:&V(][%[P!M"]Q*XH0BW=9CB?"IZ7[!NCPPE;.
M#&B2E,0G\QEJXCL[0GH?.(XOBW4'@3:7&<$S%FJ&@"$.0&=V06VJU]"YAEX$
M-;HQ*PP!DOEW&.E=YQ"?<%Q;/"MR@`)PTIF<'(GW7\VZDMT9G6MGLW/=IXS.
MS?R%$6@)4VRI.(Z<Z1A4Z%&H<<@23J3E(`JLQ0F58L25&&BI9#8@U#_<0$E]
MBQW$G`M<;KVOUVYPXM]?Y$>6@[&`!T;`I!2+0C:LJ3UB(&(0WDF/81C]!=P&
M=I0I1%-BOH$&J.&`$J!I/9HI"EO(0@X'[^QN&WAI]SV]ITS\P%>,-FKZ3>N]
MH9AB-I\R%W#8;T\'6VZ]Y+1FD,\O0.\\`12_`1]*W3%_(G>?2G&I14F4.%/N
MR<QM?Y!7VAW_\B&""QDQ"W>G<VHK_]+'7]X+75/>`PFC["(0SAE&%&,T9:/.
M<'HIL)>Y+E&K>6B;9*2(-9J''?&;4=:.=/6HV#(\2HYSM?>3OM?*KFZ>R*XP
ME25S#EC34BZS4N;),P];$^<QC:''_0%`DW]/(M$*$U0C"GX0"6&'S+$7QV1(
M:33(B`09\9."IX!&GMI@Q5L6=L<P9WP%#=MP6BUD#>\S1C/E]`+BG&4H1^R4
M(IJ)UT]]-RHZ14`;PA@%V66/<4&YZU(NB)XXVVBTNX;5;!#30G!ETG\&;F2J
MZ6S"8$TR;[L&<T5U5ES":O$=+8O`D[]C&O[32S.Y;$`^Q;;=(F--/:_?%*#!
MS%45_8)&^>JRB;:..@@Q_%L&@WRCC/9IL$&$;B'XTX!S8*GU&@FWVRB$?VE_
M-SQ!J0K2E8;$WD3H92)OE$%AXFGV5Z]E_$]RNR/89)!9M7/W0IBDC`/A/U6S
M<]6SV6:U0PIVKGT`5Z#8>`FI/$(4Q)D!@?OT%A!..,CZL="B1">2;H^M+T9>
MSY<9@($2:,<R5V`CNR"C-2@D"BFKKP5$;IK2ND&CRVK2**0I')1TC["B^=.9
M`[YP%8IY&5/6)=F3+L84R;48R_5F^T\_8FXNZA*=*R8Z3]),2SWCP?7C<*XQ
M+-(/'KV,N5#/E)Z2+MF"K2VXD;;3Q50<`Q?)@"SF/`/W",2=")5,=PO,M-,&
MNG@<4O/;:>_5DS>DGO2?J)Z@=WF>=A(#AO:QDQ=*K)7C%,!.5*"B%-<)U3M&
MPP8KAJ(F0@G7WH-D.!FY$2@5/$U$[$.XI5&I2%*L@,VB(AY&I\9\X%$6CZXS
MH)8`EHUCMZ:3D#`*!S9B@/PL1A\.D/@H"/WPEI;TO;$G,B<P*2O0Y=<$"!.)
M1VA$8!"2X\T%L^6>0A.NB"Q2:A>(UCA&LS*Z]8)5XCM'K-"[GQ+#@#UWS*;1
M[':6;-]?8`H@;)=BGR_-%-Z,:^M$=R0`A&?%@DK"F5%$T"TUI?\LI;-'7+DR
M``%0DMRAO=[$%RGC$H/</$"&I!+E`BY<P8,0$-L0#F,/]W`_XD$F2T"8P^U+
MQ1T)2/@W2(GT!NBC&WK2CR?EOL!#7%WF#X)XI)V38UP#"'PD`>+!&89#00HW
MP%4&'OQ&"4KW@/KH$D"T]82;7CD"1-(08C;PW0%Y;$&C%$"OUS255.8>>COC
M7!4I7*0[R20N2;_HU/!B@B)QA9)D0YEZ@HD1.P*M3]*[+UPR<S.T%&QDS@A8
MME[@1@]D&I11B$K?$/>`F5CMCF$U'`-^!L7-;K9EHHC=!FVZO2#+8_ZPDE6Z
M9<U,.P!A=NU^/Q';_,`#/O0V.ZL!#F_:G;95F')0MHNISOO(`,!8[+OQ2#RP
M\5V:MC:D8_;]Q?W]P3$;F0]ZP&7<6WZ6(N*<#VGV07R>)G'B$M]=UTB&V1$,
ML.N&TVJ9'7VVR$K;>FP4Q@4A^>`C![8,9KB\+L`X`DY/!'`V.OFEY73:C84#
M,I;9X]30#)(YY\.3[T*67(*T.`^.X9[A*?SG)'-T;?9TC7:WU;*T60^K[&QJ
M5@_PHG^A[IRS@/B-=LRSNL66>9]ZIY?L7[W/7T_8^2?VZ?2L=W9\VOO,3L^N
MKB^_8M^\'1D/(4(5>F5!+`Q].:L*'0!)E)(&JNR/O(D>!D[CD8%EE.1ED3%S
MLH[)=E*?3^38&\H+DDD]]`DJB9K_$Z4G",`A2D&YFT'*E98;C\(H.43#BP4N
MEL1+3P_.U=/VJ276%,HT-$5&]2L'BLI],O5:?FP52,:Z&,^]46'=\JPT2RDZ
MEKFDM%U(6E-#FP#"%[#9<##-IS8\[\N"IZUFQ]0'FLW;RAR-X,UWVK2:T^-C
MCL^_G+#KWO_NROP8W8>9)AY./]-2+0H$\L#&/!F%E/DG*9]R-"D*(;2M!`?#
M"3L+`SK"_D-GS:?>U0?6NSIF;<<\G"*C[04N9B64\*K-_?05"!\9'8T@C'<#
MR+^E_I!=\CA,HS[^#;C3$;H)XO0&0P=*N`C0,`$91.'>&!;INPSX6+WFN_=H
MX@+^9KZ'AO,C1IYR2SA+[OIZQ89\0"WS!-[7:P+Q,9Y%0V>%R5QT#XY<S*_#
MA^'+)"TET63I$:N9E<**Q#%OPHURPWV/WW&9ST=A13E>C;P^8/W!MT6J*?:W
MCY,\Y^SB\GA7*/+FA2GRP[].=P.R7R>`8>P8*_;8;U&83MAG='C+TCU$]6@2
M1JZ&=0`:1&)#Y$.)M%)5;0CTF,7YX'L&X+,H-$P*=`WD"G0IZ0C36U5ZU"T&
MV_+W'+'YVQMX(N_UE@>4D`L**XB^."82!>)'7\>PQ/'3L.81J0A][I!?#.-%
M+TI5OX>H>/P3_G<W`(SG97A<]@_/_8ZVW&DP@,7)QI&(G.^MC.!RB(D03D$^
MYLL+?(^1LHKQ;4^4*\P^@<),Q-<"$CH8DK@3UA1ZXM/^G`W(DN`(1"ME-`/Y
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MAU^X@R_GGPIW(%0Z?)0,2-;3*K!%[M2UDH.%=:YZUU/K_#OTA`T6QRE<Y['K
ML:M1ZK'_%W?W_[%C+Z(45V85%U*?UVO3V>@]<K508E?(>I@B"]3HX);RM0S0
M<E%;N$E5_1H<*.^-E\E.M!A%>Q^7`1K"YQX*LS"K31"%\!UJ%"+Q65J38700
MOQ=U,?!W5:++O_/Q)%$B'5U!0`MBLVAV%X[XQ^]33.E^Y,%1])UGI8U"+=>V
M&]1KN&%1S#N[6U)-RC8<CUS::8&(8"?(Z(#/<8JN8$*&DN\[0CN]^9YPEM>E
MZSB4W9/0C#+G@ZAVP6__1A86LD+`64YHT<O\B.PB`C[G37P>3^'%;[W>11$Q
M8&?$_RA:WC&-;J-K6)VV2(^V[*X!WS/L5F>Z3H)=>4CIQ>3Q!#0T2K0!Y"#$
M*/I."-/3B((:_/N$=%?L49."WLI1_"'.8S2?BFR/1\!-#!W;,'0AO2TZQQ^$
M9'2*UU-N#7:[B1#=[S!99J!R?[P(<YIE*EJ&PHJ*^G0,69$F*MNP>IZ32!ZF
M&$0Y@LM4+`(3;Q?$.+2;G>KD)7+K18H^?(H$(G.#)`(@B>1E_@5<`,!B[BO)
M/`55;`HT0Y%3(((3$3B!Q0F.]=B>]6"/H&%$D+;1;34Q`U8F430-!YYO6:VW
MU.GDE;ITK#<.J:==*3:N&7"%&`+)"XPE>4%*40:M^AJNM9J%E_N!7JN-9;+@
ML$%X'[F3O_\@_J47_SG'<%[O&?;#O-Y&Y_07&^95I;.9BUJG5@O9EP;,$@=_
MWHOV.UGRVC<^144*PI8<-'4LHSI"M.L9%^1?6@"?RLW=LIHX*MAH6JN,@=J.
MD6-6QS!;+</NKC+Q?DN.CN9DRVBV5NOYOOYQ:YL<F:#2885KII`7M9A(M[#'
M/UQUUV@YJV'Z?CX"P@YHQ7%6XXY[P"'@.K9AM=8S^ZAZ0R6>I'>_^4D(#<,Q
M;6R@]ZQ;W74H@M[1=(R.\P+C)+88BI9A=1RCT7T>:]X/Y2!?9AX7TD+L61V?
M*$K-&PMBL"++%,&`0/:(2C;%F/J4RW.JMV@6](TQ\H;MZ^*?#U_VX'LOZ-X+
M^J8@N_>"ONVS[;V@3WC1?B>O8_L\Z@6]RG)%<P6@7D,-8`%H-N`*6WF1<I_8
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MQ;:PCBGB6!F$-5"J`;S6[DPNGE]0]Y=8=(G.!PMBY</(B[,I<%IX4+Q#J_^C
MXAX*N[%!(95+M'+"?FMBTRY&#ZGF,:N3ITJ,P:*YVE6H@EG?O%_9-;C/\?S)
M/8(@R4O[LX&J>77:)*M.DQ,2W.^B24G?36/.!G,6O'%CT6U(W7_>>*Y`)U0`
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M]GDB&H?'\)?#,=BAU`_N#H1_&)4+N`VF33RO3JQAM'>Q,-!HM5^[,.[%V2<A
MN%SM=/FY5U7B0ZU&US`;*V>G5).I5ER-6Q>JG7R?^*'L.D839JMT!Y;1QLG@
MW3U*O4E&=DGCJ42K.WT^5>7PS+8=H]M91>3LL>RU&=?%6Y&*'<LP6RLG7543
MM[H=P[37>9:WP,8>P379D%!UBO=QODVEN-L!7)JY>LYPE8[P9GE:B?-X5>0K
MQN?9[J8Y6J9A69;1L=>3O%>MV,1+`;%MM(")VRN686QG#.0Z3'`0>$D0N4J\
MS[*-3M,$%KXE^FF;C+JNM4KWA6W@Z1G:U6O_FDV=V24>=+!F3KY;;7W6R\%?
MJ[//DCF<*Q+6&2A(L^Q\!?1XZUU9;*/=Z!A6YWDE(3O>VJ;;!1);+0#Q_+8V
M^^C^VU)C=C6Z+WNOEJG-:[^>U9-O;+MCM,U52I6JET"T,ONIE':\DKS^'`:W
M8D!W-;'):)I=P^E4*?Y4H82TK2N>P4YLGAQ5CCW2RDH<,,V$N_V1RDO7IO*5
M3!29FK*+I27O;,.Q&D:SVS+8.POL^B88Q&J8B&58)AA&IOF6AHFL$_XXWHQ&
MQ!2GKR!7R`IC:$Y9OQ^EKD_7D57#B(RS21A[<K#'(\50NP)6;`S(DS0"D`P]
M'\`9\5LW4F.S]&(H0-(FH'44IK<C":NI@7`1O_/@;3</LG9)(:E@W&DR"B-1
MT*&?$?]+OP^\._SD;S^E\>&MZTY^%H/D8(<?O;COAW$:\6O^/?G@A_V_?JW7
M&/M;_DT0%#Q.+EQ/U"W!UR[Y\.\_\-#_=G'2Z30:A_`?R[+,PW^:IMGY=G7]
M\5NCU?R&Y[#LAO7-_`%PQ1-/>7'HV%;[V]>KCS^P[['W<^#Y?_\AB5+^`_MI
M^LV")0`BT;^GP6F>3K;NK0QXWQN[?HR%&;]:+1N^WRF`:_Y6BKN6H[#B"_<!
MV70O&/209OC@<Y[L70+T)Y_G5[Q@>;\O@=5GY]<GK%WH_L]ZQ\>@SUQ?@<;Q
M9^_#YQ/6._N('UY^/?G(3O[WXN3LZF0W:%[=/IN(Z\^9)D[%4HU%X:YC+TZ4
M+!.U3\`6]M5/VU"ZLZ]^>C8(]]5/E4*()YE.^UZ4F^M%J1+QI\7-`H!4+MV\
M8;2<)MA<&THYK_#)FT:K91D->[5&^%6<0D-?NG)]G-(['P6?YWEY3@R_`49_
M<TL"^)9M&=9*H=MJNKT%SH34("'F_13L5FRE"]:0S%(.LCG1]5H%D0J'%*]$
MNA7&J89I=)U5.B95C??TQ*QBV8[%%=CC]L$PKQ*8+<.Q;<-TJA0@>6MIH4]N
MRGH1><!6W`&:S90X/$R#0;52S;!\RVAU5DDMV:/'R[4\/<>I\9DLVJWD7\,R
M;:.YHJKZ-BSSEX)ARVP9C<;&(?C:H^$HK7>%>WWKZ4IMH]%&&W:?\_4,(+8,
MQ^H:[<:LZ)L;\IX?U'IBZ*48OSD.`_07B=K<2R_^Z\T':ZQ.,5IS_/4*[NGD
MDAV?GQV?G%U?]JY/S\\(I!4(/6P^U4!U@XPQ0`$V0YS>Q(D;)&B04K\^T340
M0]Z3*,1N_C$9%]C>3G1U#%+RZ6,_0-A8..91?,0^@B6+D5W5UW)VY%>])G(3
M]%:@(#L&S+&/[!_+WNG1/Q,V].YXO9:_3`-?]E,OF0VY&\S-#:2\L:6V%(7]
MWW6-;J-A=+M-;>4ESV.6G<<Z:J]T'E:R>7/.YG.8UVOWF+CP#KYJVRVC8]G+
MW`)EA-"F\\:@8M?FD?7HKEEATS.I)[CR([MF8M--PW&Z1JO1.4*L]"@HF#,>
M-G;_DGU*U1[O4C_@D6KCZK(`CD=)7/5:S.]P30^^V$\,%H_"%,XC$@5\,7MP
MY$VPI27#![S`3:9ZA,YGJLOPPR('S;]P/L3-\R`6#^->^.`8R]"O1F[$/[@Q
M'P"S1JLL?JO,U2DR5V"MQ_\\_-"[.OD(_/4+AKZKR5Z?^XJ+-(I3K,I=U`:W
M-Q;TAU'P2XZS,SEE9+79R7]2+WFHUTX)NY"P+GQ\$[5OO;W%3)F$*T8;([8L
M;$E*K4O'0#=`9(!"><=C3%2ZC7"?\+3X8SB1:4JP*2_&0_2!=F`)QV@XEM'M
M=.4+=R5/"5,07"^BO#L:8RH2[28B!8]:.-]P/[S'-#JX1&K&/,`6.7@;`_BE
M7H.'!)336+'?#Z@&'E[U1R%VVQ6K'4XB#Q,"V#@<<)]ZWX(Z&/]5KPTCSL48
M57@)MMO-7O#@<7]PF(2'\%KE+%8-E,,TEDUKTV`@^S[C,U^OV&\A\,2`'#X?
MPF``;-=+1O1'.`#7UP/^"7+=QU;4JL<N)E=A^AL/PDBM*>%!Q^0#@]V%R%I]
MVA#LHK!G-PA2["X-GXBVSUX?O=V$?A/R1VE/B_4S862('L'Z/GQO.`N7XBY!
M&-^//+BVK!=T`A(D`%BAL!"*L;C:R'^`9WG4]V+LF#UR[[SLD-B&G$X)ES;@
MT>X00/YJ)6Z1,R"S:AH@;T!+BO#>8P1^+[V%-S,A[SO8YQA40W&K`,5WSE''
M9!/%M3`9<N)&!'MR3\>I3V7D+O`X3NA)B`DZ!DX4ON.(+;G8!ITC&A.=Q#QC
M7,/4ASO$KPILR#:$"IG9%625[9C4#2+M`>[U78M.9&@D;X@MN'#B,:;36BW0
M1G,$Q7;DPS"-#H5"A1W7A8Z"N@3^$2F8Y02,;=L;/Q(6!R$#@>P-0`H(.A9[
MRQA-4M@H-G2_`1R4>5)PMCO4L@.ARAE,(+@7YY=%Y(QY['*M'+[U6@;@(_8I
MC);0"-\Y':-EM5`CQI;O61*L&^OW)C>W(Z1Q&K`O;M0?Y4ISIH]*1HA,LPOJ
M:N#>$K2!FR;N<)AO^,`+^GY*W-D!;`#``H9/"_/W&7(G(1!3"J_$9'`7?L7N
M'O!EBXJQ3:4+'$C"G,H+1^3A_904BNQ=@J-:6%9@BB]3TT+`JP!$4O8`TM^`
M3Q`_4'V73].S31:B#U@[)J-3OL^/.<7%BWI043G!3B8Y"Y[E'`!"P3JD'%"@
MD13OC8%*/1J((,A)_5VC=$!_('7+:1@=VYQ+ZLQJ.].4GHR`;(C4B1`?I75F
M'3ESJ;U>6Y+TU$[1&BV07KUVRP/JPD&9E`,P7D"@XJ;N>)90N4O$^+"8%-T<
M<7.*8HJ@@+<+*A!4-(V]Y4K\+/(2E<W#7K8(>8'&EL!>DE.V:3B=U@SNTAP,
MB;SF?.1=**?$<*G'D'>1V``)ER.OW.D,[K+YJ)L)N5W!W5U[+]#J/U*0,,\B
M5BGCW@"Q-KI&L^$L(M96NQK$*G>Z)];%R'L.6(DR>B'^VC,*D4(0&OB4J7&-
M]K.$#BDSY2I3Z\AQUBITK*[1:BZ4.BVK&HBLMKK'Y#5@LHN>DEGE7_E#"GR9
MK:Y#3;LGYZ%S]ZC5G$7G?!<K6`"$SEW3:#D=PN9ZK=0`:*VB0P$5K&@`E&!S
M:<Q$[70A,L/K=UW_/POO!.C>`C9;YI%5PIV?@<ZVT;":B]"Y.>.Y>B5T%CO=
MH_-B=,Y`]S@Z(ZZ0GG'C!J`19%[#`BJW6X;3MC:$RW89*F?[F(?+<_VPEM%H
MM0VKV:K7YOMGFJVE\!G4K2?Y9PKX#,K!?/^,VNP>I1]!Z4_\)DJQ'F8V-T)#
MZ<Z2FC-6L&Q(=>X<V26ZQM-5YVZW"995=Y'JW%S@;9SFSH(05)`+$5S&XJPC
M.4=V'KJC2C.%[O7:X\JUEG>2G:4D%+!W1ZZ,[`GU=YD.;0';\_":RQCYZHZ/
MI?EX"1?/]@!*Q<I<O-LP''NABMULKA)-`WQ;#J=74$D(I]5.]PQ\:15[`4[;
MI1IV7*YB;Q"=39#N:U6Q`4E:]@)T;B^GD3"1F59@XFQ9'FX>-3)\K]=6<)`4
M>+@XR9Z%+\_"K:>Q<%>QQP+2%^.U:V'=1ZWGJ.#$^314=YHV[G"1^MUM'#FS
MN1"`**LHX+:&S4]1P/%:U&;WW/L1=!;Y32IG80%&S_61P!]D$M1<+\G"X>@"
MF3$-XA%7GU6"S;D5L"KC;LA\B!R7)?=5R-QRCF84D4?4;^$NGF;=3G<Q[W9:
MS^+=B.T-E76UY]V+D!WSJ9?!]0;+LV+"X1!0<)ZF8AE@\"_)MY?%=.>HVUY@
M:%*G._D8I>QZ`4[Y@3OV`K",?9_2PT4N&*SBA0.QJ_M0H"&117Z::;IPC(;5
MGB:-*96F?63;/Y+AW76.&C,*SEQUO=1&I=W9I"-JI%(DE%A02L?Z$;]G'9G-
M9Y.,972=II!GJT2$5J0:T4KGQ8GFE5Z[]3S"]>-09Q36K%^JG$^TFL[;X!(H
MX);B$[;1:MA+\PG+ZAQU9KQ93V44C>6XA-U]-I=HFZV]9%U!C7S$+'IM)=(^
MZI98_^K5C[API^TA"[MQS:)_[K]M=X^Z,\D/BW&^3(.T%ZN/S?;S9:$XR1[)
MEQ`-,DNMPDC>.++FYZH]`<GMA4C>:95H@!NQDQKV.A#=WB/Z<HA^Q2=)YMB=
MUH,`2K*9>8D"A'_-"Q?&:0)J!T@'*C`A"NEC":&?K0`4);%85#["M^LU+#60
M-GVQ#'&"K;W#-/9SHAM2V8%6!XDE-99AX4S;54A+O,E@6..%)3%%XL(ZL>0>
M2\6$\@4'F0H*"MH(TP1==$'L#;C`_",&0,6BLFA`Q9.DW?2NCEG;ZAS:YF&C
M>=@UM+K8XU]Z6$4(2'KL`YUY0T\@J2@"U;[H_,*."9;"P2CK1B>^VZ<+R;_X
M\1<#M"C]!OOP%&Z/J\)G''VM%>S(LCFLQ!9OH"()VA9\#JP!0)KZY')!@!@V
M#MT%8"-910/Q\1*N-KJ[QRAW=RA/#Z:L+&$H>?EEU"C'6I^$<0QGH83I.D<K
MY$(O$#"/Q%"LY_OAY%GV\N6Q\FG5P9W)SNGI>.Q&`*L8F7_>'$-C_,"^@`!B
MMR^D@&+%_W`#BL;(U!N";W7YQQON$[]TSZ1'.DD#>=U'[N3O/XA_:1-GJ<C6
M!C(\I\M^ROOW&ZSR!B_=X);Z'JS^WC?2J!TYSQ\RM/J:T-_O97FL/)&Z3;TF
MNIZ"3E,I_'SQ'H]S[O`\3;#E%\J83>WRM8]XEMF;VWK"?VWMZ<I(^UA8]-0X
M:[W;KL;T4[!7O&!Z9J7\4&J6CIR?4*]]<'TTXHUI=7D!8#8P!>)I/9+S56PY
M"$.D!VYZ(]4%@"T,^MT%@+7K`'AG'G4<=DCYK)L:"/.*XWCG\S:YW&_2%S98
MKGOENK3*=71[=VRJN5KK&_>'J5H?_E<\ANA5(7B#O0J/?.MZCZ;DUFMOD#-L
M"?X=-*V&T6VOC'GOJW2()YZAFC?R^ASA%52$3V$TY-1]/)0QHF?I"R]NYK[4
MM(T#6Q2>K*1$SH-"&0UO+^0L,D17T7[VD%.0<XQN=STC7G8*<M+@RU_QG)_6
M`?VWKB]JOK%**X=-T]I;6A4[QE;=B>Y2VADE4?F1,$8IDPV74A%+9Y&_VM59
MG57=H17&PRWA#5MU)R+-]9!*RM=ZIC>B(IQDZ<E/YPY;JY(>V$^(Q^V5>5AE
M%5:W'Q*ZQ[IU0.Z==>0X@'I4NK`>Z+U1W6^>W5<MW<YI=HSNMM@86Z+;;=6=
MY';?;NIV*Z426&67_GHVAM$5;06V`Q.W[#A;PNQ$L9?@#ZW=\`NME$-0+9:P
M)4AWT+4Z3^$$E<HA>.(9JGDCK\\&WI8+J%)<X6#E?-GJ4=.V<+8MN(IZC8R&
M-46A-W&"ZNH66F*2(3LKK)JBA%-K2_G+EKJL,%\$N'YK[^Y[(NS,QAYV3W4R
M[W/CGN)DQH13<C)3O_6U@.\-JY"SKQE[@X'/'W-$K\+C[:/FLW&&UF"#,+WQ
M^0;09O[R.LU9AN4X*Z;5S&+-BN#86F@^+\2XA^(>)]</S2>[$IX(TH)X^(E:
M\.2_9YV`7J"=TKZO4!54H)G^`5:#7G0E>IYIW4ID*QWX=T'[BS?2G>9Y+]K.
MG?S!D2N!==V[XY%[6]8F8J/[66H/3\>OLJX8B[>Z\@/+P;ILW7KMD9XRU=[\
MFK?RHGN_5*T^*[?U!1V:&#5H*FT@MJ44XB;%N725NZUG='RK],;KM>,P2"*W
MCWV+V6=O6-H_J&J$<JX&(1VG401?\Q]>4E5Y?2U.B/1->L9?^VQ%5EC62V\K
MCGGP)S;IW9BW]*6/][BR\UKN2VDG-F27L)-\6`RU<,\!$B[5_:^"W9*:LEW4
MD]PWU6@8]6Y-,'BZSZ4:<%@;&+HOC`6K7Z`:WC6U]=918_;B*N/;T@^PUE;A
M]\I`=H6!+/K@'PZP;7O>,S[&'NMN4A(G%RG]Y->A!N$TQ^I=^\CN&E@#T6G0
MG]ZUCCJ.@3,-L&V\=X<]ZU_VK*\%XUXR&W>2T%+CG/.Y&A[HQ5X0>WT!=3E+
M0,T+R&:/P=/%`>#O+*/1L8V690MHMYM&RVD;V"1_#L#QO_3[P+O#3_[V4QH?
MWKKNY.>/7MSWPSB-^/D0&\7S(*;N_Y<X99</CL,XB:GKYP<WYH,+]X$FG5WS
M[\D''W;Y:[W&V-_48M<1=V&I!W+^_0O/U.O_)\5$#%SG"T]&X0`4%"#([\DE
M'_[]!Q[ZWRY..IU&XQ#^8UF6>?A/TS0[WZZN/WYKM)K?$'Z6W;"^F3^P-/#$
M4UX<.K;5_O;UZN,/;,#[WMCU8_2J_MHT\3_YZ9;94/$(\MP7;I0\7&LM\G,X
M96=_\DE^Q:N0-_$22'EV?GW".MJ@D\8O[./7$W9]SGKL\N1S[_KD([OH75[_
MR7IG'XN?`-NX[)U=]8ZO3\_/KG:#B"4.L`DB`2L,2J!!-'&BQGYDDQ=^K@ID
M]K&+Y\0NS%)G`)E0):ECZSW#!K/LWH:)M\ELFH+Y^(A;8RU9-%L.OXW7NFXW
M_!8VQ=NB+*[N))G.X>I.%)`OU$0M$*:1>\_&('0C#U0Y-HS",8Z5TN7PSR40
M>[(]_`PC^.E&^!KBM?OSO.)Y7C0-OC0WIX26,L=&RU+C"0ZO1F%ZF[K!+?L]
M#&X?.`-#!I6W;!+89V],O3P/SD(P0P_<]ZOXA^5.GN#*>4(2U?1[ZK5WZWO!
ME%,KF^^PAC2_V7T_/4MMJV'=,%IVQ^AV6AN!^1[2KX?5K^U,G6\)2X`"M_[<
MN[@Z^1D-0-^=Q/R%C>0DG)1*@ZGQ%(I)LV5O,',SR(4Z';'0E^B(_=_(8W^"
M:#"86Z_1P-%1Z`]X1)[$.`RR@:8CUXO&;C`UX!2G^0Y`-0.TJM>X&*#KH6K+
MXP1GU"XK>NJU@]P==?R+^'+^R<=?WF>C;"<`[W`@=,(>+`XO<J0;.@FUI`Y;
M?'A45@QWY>&@X.FO&DR'2+T&RBB8_XDX(NPUO`]X%(^\2>&(8J^EKY%G]N)Z
M+0R4/Q?TVG_#4>)T,O$]6`^'R>J3:.%;<>H/T\@@+;@?JA&_=VZ$DYE9?\3'
M7I_T8@62*!RDY)'"IV\`,EX@!L>J[]9K\CMQZ49I?FP>AP0-^P&IA?8F#F&@
M%M,?D<.Y7@/P^:D<0XR3EU/T1<N'2F(%$KKN&+](0W:QUZYA.2VC,^>&KO-C
M22\W6%&#:5C=/-1K$LCPRK$;_<43.4[ZJ'(,:+,NP(]Y9>/0B^'*18'C[*3C
MFS"*PGL,^>!@6!KF_:YM=.R&X;2;!F'-,,6)XA&?N-Z`QI5'>N%D[(Y%]:1!
M1%BO_<-SO^,?/Z.DP1]ZB-HTBWM&P]2I7#Y7KZD'"P1O('()I$.R_((+2T[%
MIAD5A4D>95'FCZR$1<WL0HQ3%L@:P\$Y8MW,&0DGTR#F_33B`P-I0JY)@X]Q
M5PA`01)`F`,.6QO,A+UF(S`K1!R*H8K?Q!#D7C#H%48@G\A9X)L,M%CM3MNQ
MNZW\&(_LIKAUE:<KTW3%O-7SX4?/3^%3BC?%6I+'&HXBQG5/G:+AM-J-EM7,
M3['BQHJG^LAO$CC_L3OQ$M?_S-V8:[<8O]'`$<C90N3HN'=Q>MW[S#Z?]*Y.
MV/D'>&=/!(=>LV9C3:^X1L;2!T8"\ANY`;"6OKA.T(O)5W7C>[>NC,Q&)/Q$
M$"B>'P+:Q6C/ZX<>EDB..QU/TJT<XMFB]_0(?U\\8K4=L4")(4K(@S!;\^#3
MZAQRF]-\U]\_^I433)6?]SI$H5003F!UYM)IP:$KF%!HJJR\]C,V\>/+GGF1
MS^[QHS8,VVX9C3<Y=_5Y)U_-$5G-":OS^,9G'L<_,UDT4J]-P@B)\254G#5$
MVDNNKDK;VXI$@&(SH4[7`#-Z+2#<H88X+]#K_[6$_/R6#,=S);W!`DX9B7W!
M=MCJ7&?%;AAK[\ZQ!.=Y[2V^6@.1=8<&L\`K-C)K-CM[(%:Z(=!V1S$R^YI+
MIS6%^1:XW`HA)=LRC8;3-MB]BV$R-[KE6<C("_KA&'UC8+A3S4(6/<L;019+
MPBEVLH3#?EDW;]$Y?,:38S<>743AG0>O_O#P->:#T^"3%[@!^MYZ6+?A)1Z/
M-^JX/VQW.NU&-S_-\OLJGJ<W1BGS7[J7\V'V=2H8V>@)X-+ASO,#+-J(V/(M
M7,O/EQB<(40X'^I7=ZYAUT:W+>&^[&:TK5^[W]]R^0F^80A[52_!QP\_];Z<
M?O[SYR46H"!$-V-1(@AQW?O?DRM@J'_V/GP^(3+%-Q`K?5'^M?F`A/N=QV!(
MRL"BK#^)5RA`V<7H0_5LRKV+?N^]KK#W>M]@;1,[>>500=OY40:Q2!5.W.\J
M9^LMN8LMH]VR#*>YFIML&QSECM%HMXV&Y6SFY"_H,!?IIQYE"&%;@#"-^JC,
MY/7F;,AYIN:LBZ37,IX.;,RVM4J]5H7K8IQ.RVAVFFM\X^NP./H2U?,ST!71
MZ%_(VUX-WDW'-)S6*BW;*XP\./K`,IKVJZ#/FGC09\S33./'A.%KPKAC&9:U
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ME,JA[T:)5L3'@ULPFCF58GE!G$1I,90Y2:-)*#IHP(]Q2B5;&`:E$LM(W]]`
MVQ\VW.!##\]"Q8,#88N':3`0_>8X0B"K(&2]?C^,J!`GJ\<KG+]W&W$*LAI4
M-ZG>6Z^Y_9$'[Q4OC4#A3FC[]Y[OLQM.7BDWCGD>SY`U7`"Z<^`)<$4`]F(Y
M&ST[$=%*]JYITD@Q>&V0TA6E0>+Y[!]IP*E/C8T[7N;"6?&^<^`=,4`G7(^U
MC9+JND4(5:_-><$X3<1N702<"%GS:`P+`")(^(83;$0V#6!5GD9U>6F_S^-X
MF/IT>SY7!:&)*&(!;!4E6&PN(B1N_%><]5D1Z]9K4Z@BZTL/U=<4>N;UFA(=
ML=6WN+[=X#.BJIBN`G`90/N?%,@72!R`)BI@B>?@GP!,?)#?0P:P`%Z@5?/Z
MGB@;O@>,XO=4B)E$W$WH*C`JAM<9&SKM8T]X63;IY8PAX3%5+68ER$$ZQ!;L
MQ$FB,$UDP7"]%KN(.K$H@BS;#N96`(N*\``2I>!/B$D!\<6,4>#'7L!ZDP@H
MD'(IV._A/>!25"29&+@>X)"LXG1ARSS&PM/I%TLT+Q8[3T8NO+3/X01]52@-
M5.3U4Q].AQGQ"CNI/G/,!QZ`,<:-`9\[)$(633EC?5/`:K]CH3E2*];!H[M<
MT2NMYF-!JTP3@)V`+A").DV\!R!WHUX3E^!SERC)93X<'F_##2B[A3#@-@KC
M&`N7@;?19>4W7:_E5YT=(KMS<3]S"5FFSU"E-F8!#C),6`'#`)+J=2(/!TO$
MD<UB`R9,3)&EMQ2%3L>3J0)TA0@H51X*-[[DD&<`(;4W;;8,N],2O4TMLVFT
M&]VI9K(SP"@R+95,M"0PX+T+Z6TA,)#3ED&#+0D,%/)ET#!EK]>.TS:Z5E=`
MH^-TC&[77-3J=7O9+=YY0E4OCY$!?*$?W@;>?T7'@CP=#'OK9OE@4Q=1UN&1
ME?0\5EC:Z':,CF,;[)UMP.>&W16=?DDG<<S6@O['<^R5I<T1S831^_=^Y$,>
MR=ZVL4PK0AA<B,I^6):\53W2N-Y>'A&9/$ZQ&/GB\N2B=_J1?4:+ARJ2=X<6
M%$.9R,8-R.1\Q$!*FXR%<2%2*%$2"N5`=%.)@8&X:%O<2MXFQ.W0&X+B*H@!
M?B4_.;R(%@U5<P;\)!P.:7X0O'KLQ;@YC:N"HN'Y7L8C[ZEU0XH[*BKY6#\-
M!.F!+@RB4?#T2=:$0IT#M1I7I/AQVH7+L+4`.@R(?]=K-V[LQ3O"`S\N)TD-
M!3(WTYL$8.LU#;+$3.'Q=X[M&$ZKG?5\<6/BH!&NC9FUH>AX'/`$!<\=#U)^
MQ);;BCFS%<*:Z4O.MF*9CM%UX*E,JZ6/&HZ4@,VN4A/F[)#)#=+7W4(K"B4>
MXFGYN=Q9S&[Q+*1Y+SI+$R1WIZD?!3X!L2%/TFFO_R2[004Z]QM)19Y<B!G;
MZO,H<4'T@[+6YSYQ'G%#8=\EWXC>JTJ8)Q>7Q_@#&$>WBFVZRNP&"\B[#93#
M!A<!LR<)[P/L#E7>8NDJA0N??CUVC,!F8^J^J,44[`941%J496N*2U=^EVDG
M2#],_0'UJ@IO\)R2K/'D$@X(``^8-!D_(>E`,=?V(YZ8WXII:N,9"I?N`LN1
M"-P+=]$/T34"_%LH<;@'=P)RX[N'G5_]AWP'EFD=-6T6HSW-V5^>#ZI;@L_"
M-O+Q"7TWBAZHDT\V/N%=N]4RV@Y16+[<G+=T[:.&>DF]EK\E_X;<P**79Z,;
ML*N2TS#L=G-.0RQ]#L2JFN'SM;R"UQOOB@].W`CG%L:@=B9@0)-M^T:U0@!N
M02V\/+GNG9Z=?&0GO<NST[/?KHI_[EU<7)Y?7)[BF(/=X)BG@60FU*6+N!@Q
M3>[S.Q<,)V!^\,MMZJLZ&VGIP^>@HJ4W8/EZ;@0J70['+L`1J+OO"\4.\"WL
M>_1X@5?I#X#:B2_2UR.6&'$QE(/\)K[@T<S#%G-1./3`$A\F(LA.93^%O'>R
M!:,[7ID!#)NOI?#PQRNP8],DC!X0SF-@\)<"#NP3.O%I4_2]W0#+U?'OQX2S
M(LBCHQ1W06J14H?^1.RO!NP34RR5-2)P#!V1"LE(_<4B6G@<H,DC10H4JA%0
M'XHZ(Y!CN4<!50+ZZN++D3$*_.*-ZQ-!1KA+.&43VVK*?0$Y@K['\0S4O$Q5
MQ<V1V5ZL2`&^&+`;$&D@B(FDQNY?G*43BLWXZ'_,_&(A005^C4C?H??4:XM>
M=/*]S^%2E$,-%LE]L[@VSU<W</`=J#B4(>-BB\"^L`'B4::^P)93/Q%.&NT$
M$B[UVA#8`5+Y#0=R9W8SNS4-.FJ[9$!.@UX$413L\6JGZBV$:,;S%)$(=M,`
M)"'?8E-@"W*DV?<N'G,UX^)90O9JLOJ*T_F_4*=+K,:3TOU<..*#6]E>;[.U
M:YU6M]&2)UAZ1P6-`S4_3E.8K@`/7BK$OCF%PYY1./YU<GEUPJZNSX__R:XN
M/I]>[P;G[9&5&B'SH*EE,5ZO(E(OCE,T:]&`T+HYBEZ,6:0R4Q0F8?P+(C*Q
M3+$<NB+X<"B")\*,8>3OP:?1:R58(T5L<1\8O$TC[0V%U80[*F9D$-SEKOD/
MH1L-2(?_"#*C#^Q#:$!:V]$8337<O"OZ^<H(<E)LI"M;*D][N@HZT.R6;G@?
M6ZR*<Z)UCVSK'+:!+,JRA>_AB/5\7QT,GP)ZDZ<?N(G+#KC@S&"Y"9OD/38T
M1E[*.2A_`[QQ(0XB/D0#E#8HWJFVJU\A<D1@OO6:]!BBIR/&#(9%/4V7IG:-
M.9P&=[`L<.P_`*C\(X`96,HE)VMQT]70':O=D;M^9!MZ.:Y4(J[#:6[>0[R:
M1!AQ''P*H\]@*OI*_#SQ&-^<IMTUF]\=Q[:[S>5*O!VKT;%;CLJ">LIV9VK7
M10W19]0>GGT2QVXVECI)P^PV[7;++%2KYSMY_3M9^B1KOY+"9$/1EU:--ES#
ML9H=:V'OW-.S3X!G5L=I=KMSIBT6]U3</'WAE(2#\+Q>$(\1C]`?Y?QU-:3[
MQ<[4=1H:MJV^SZ7.284K+W/,!:,R'SWF_&V^("IV6^W.X]?V9$S<Y,32N8?8
MY/S2'@EZ,:0U[%$&0QBX_H7K#4X#Z2TD@-S@/-?BQ%=8.0;9!^K=G=?G`@DN
M120=OR#JK9X+C&:CU5T.&&W3[CHZ-#9]MM<FWN5!<[@^ZET&J'^(\</B)2]X
M3'C"7!4!"GLM'I7L5$0+4.H!,T#3%KH$"%KNW0:B:V-?;\(/*B#])MRB^>M!
M#3D?7KO?!:A/I?_D(Y=^E&=#"!2+Y?0*RW:Z#<>T<QB]U"'G$HOUC./#^5O`
M+ZU.RWF&$+/$WN0VF#=XSC9H+5@-``(VG_P-?O<&^,G00RL,T_7`P!XER>3G
MGWZZO[\_BGG_Z#:\^^GX])\__(H\O=-I.BVXIORQ?*F8WR*\?_W;]YO('W@_
M\^_H*_.`OY.3:@!6-UQD&/S]A_RPTN=XU><!CHGI???B'WXMP$*0O5CC;S^5
M+OWKWWY2[Y:G_*EPS+\)VT_;*>:!?H1W_XKP.C3Q_V"-[-/LBSP8Y%^S[,.&
MA4L/M"_][2=M\;_])"_KN3>GTT^U;^Z$)I,<9Z,&BC?8Z_?3<4KYUJ6TN9O7
M2H+C35]KN<S:R=L46O%;OLV"=KZ;=TCFYEN^0Q$EVN4;1!?66[[!:1?:U\#5
MG&B[>:GD*]ZF2^WMZ)5N_!+?*'C,*5L-%,-&U3&^:*M1(.`BPHJZY.'"=P/L
M*8Q$,=FP?F\N=XGFRU]BTW0:W3=UB=G80.%TVLE;V[M)WM[-[=TDVWRM>S?)
M%MWFWL1^^S>X-[&W[U+W)O:67&FU3.S*@,?LSIC8W7:[XAA?8F*?A0F/+T1K
MSLVAM=E=ZM[@:Z]P;WO7R)N_Q*;=<:JN!98;V1>1=P=?@&OL\QV\OKVEO<W7
MBI;VFQ*0F["[]V)Z_;CT%OA]%7%I+W7VCL`MO4UR!&Z1L%G>+;@7,.O'G[<O
M8%X.?_9"91^/V*H;W,<CMN]2]_&(+;G22L4CJ@`><U_B\WR<Q^DA+GQ;3\]4
MGVW\KO9V:-6O:%^,4]6+V:O;U;R6O0[]1FYJKQA7^9Y>7=M]R3/O$[#7AI_F
MB]_57HFM^A7M=:6*7LM>5WHC-[77E:I\3U72E39]YGT*W=KP,W?.OMA=[76E
MJE_17E>JZ+7L=:4W<E-[7:G*]U0A76GS9^[L=:5UX6?GQ>]JKRM5_8KVNE)%
MKV6O*[V1F]KK2E6^IRKI2IL^,WS2:IB5.C.VU6L=XMR139W9-AMFMUIGM@_-
MQJ'97>7,V`^>#BR'@*A'QI3XPW\5'__M)_6[6`*?FGI>[R<_O8C\V\_PM]56
M^@8;_S:ULX%W!S#*SX_/G:5C')07YEQKF;<+V)0_3\M^Y$$X]H)Y"Y?!)E]S
M]N&__:3M/3NZX''PP_\/4$L#!!0````(`$&);T`OA$;4]PX``)O+```5`!P`
M9W5R92TR,#$Q,3(S,5]C86PN>&UL550)``.J6F)/JEIB3W5X"P`!!"4.```$
M.0$``.U=6W/;-A9^[TS_`U=]V9VI+,M.TL:3M.-;.IJQ*X_D=#O[TH%)2,*&
M`E2`=*S^^CT@*9&T"!*41(%0]R6*)5R^[Q"7<PX.#C_\_#+WG6?,!6'T8Z=_
M<MIQ,'691^CT8^?SN'LYOAX,.C__].TW'_[1[3JW-[]<CIPA]0G%SJ![CP-.
M7IS?7>QCC@+L/*(71ME\Z5PCWPU]%$"SSAVA7YZ0P-\[\E_/@:]^OQK=.6<G
M?<>9!<'BHM?[^O7K"?:FB'=9U/B)R^8]I]M==?Q;#/'">7?2/S_Y,?/+B(74
MNW#<=_TWYV_/W>[9NU/4?3-Y_]1%D[-WW?,?\)NWI_C=FQ_>/V5J77,<@_,`
M]H5S=MH_ZYZ>=_MGC_VW%V_Z%^?O_I,MS19+3J:SP/FG^R\H?/JV"S7Z.7%\
M[PRH>^)<^KXSDD6%,\("\V?LG20M^8D<')`Y%1\[&>HO3]P_87S:@[;/>ZN"
MG6^_<>+"%R^"Y"I\/5\5[_=^O[\;NS,\1UU"18"HFZLH&RNJVG___GTO^C4N
M+<B%B%JY8VXD&@V`CK*$_*N[*M:57X%LN^?]DQ?A=7Z2'7[@S,<C/'$B#!?!
M<H$_=@29+WS<2;Z;<3SYV)F&'$?B[I_%];^[86XXQS18?2+JW=*`!,L!G3`^
MC]!W'-G^Y]$@1V,:^A..!0NYBP6!Y^727I",V9ZLT--JN[<K@Q'4_&,<P-B3
M?0PGGPB%YT:0_\`$D5U<^T@(,B'8VY:(9NN'I/*`.-[ZP=3H(ICA@+C(WS\Y
MF.)LCB_]`',*0^$9[X'-9IO[@>V2;J:7\0PD,V.^!POI[9\A#.A+Z@U!4OR:
MS1?P$Z8"^H[![(%5O?[V_J"ND9A]\ME7,:`>X=@-]D!IL\W]P/Z5!5@\LO6H
M7G<IKI`@8CAY`(AR*9)#':0X)E,*@]U%-+AT7=C^`MBM'YA/7`+MX)?@RF?N
MEVT)-X2F:5'=8=AH`-T=%@+C&R)<GPEHI$%Y5'?9-.D!?88/QI<'X5O:6]-4
MTSZ'DQL\P9QC[YJ)0%RC!0F03_Z"Q9_C!2+>:J&YA,<2-#DA]H"I:;$]<+;`
M/%@^^')^@BX#2_$BTF\.,6)J]=ZT*)*'$L_:`2TH<=#58S<X30LK6<K%`UJB
M)Q_#LX-O>(B].X*>B`]:%Q8'$=.V0)H6T`B#=1OIF\'RD2,JD"LWQ,,(I4[G
M30L"3/Z#<%;TT_B^@Y_DRI6;K2F.1G<7W9Z;'^H!(A1[MXA3T.W@;Q%P$H^X
M1@>Y3K=-DQ\'T$O.CI%E#S+B];MN?(YS&'TA7T:(FISCQ?T<4K>4UBF8II%U
MDRRSD4H7V;-7TG\).U$,]C"*Y3:`FK<[I-5^J)6_M+?&YS^>RL\17C`N+=O#
MS'R-3ALGGMKU#\!A!B--6OOA8N$O84S.22"+W;ZX?BA/"^X8G0:8S].?FI3/
M_K`U;G4PZL(GC^<O$5\.8USH]-HT]4^(\-^0'^+#Z$OEW36O)`F,8"C".+S!
MS]AGA[.R];MN7@CR*!%'V_=X`<;9@?AK]-K\/%^M+8<Q`2OZ:][=.D7^/0I@
M61722&&1VQ?3AEW0>MTVOC6&3P+_&<HMYKEA35#=U0$V+@_T3NRM?\N<@`XG
M\4&;5$X170ZI?Q@7]#Y`)8)STP@%&:"0$R"4Q="1MQ*A1-7$.7*,I/<*RD'P
M:1X/1U@`#4@NA\"700*,Y\=8`B"*!)@@\12%`X2B.T5HT9-CKX?]0*R^B49C
M][2?1`5\EWS]AX['[SKD\DFONO?1$_8_=K9IH6>0X0B[F#Q+B+_B0(]2815#
M',)Y&)FCJE/=.R;$)\8Q*.LQ4C=V5L:#^M+[;RBB#0R8#"=@WJFI[[TG(Q+S
MO&AVP3Q#Q!O0Q+&G8JTH;01Y=&BE`AK_:`Y7Q<3)E3&'\E>PR#2`9HJ9P)IU
M-@^??#*-)E"%B"LJM8A'Y4.HKF>:C;A"O@SQ&\\P#N(Q<[6\1_]E/-JU8873
MH*;1B!F>8J9$#S\9P01V%J.1;1DY%U3X7A<S@745@P`[7+*:5*D5937:PJ!R
MTE94,L%C'2JCGH^Y(B8P9I1A!<1L"<,(I7MWXSBL&G9Q-<-<RJ=D2VR42-5.
M@I=N7^0)%"['75+!!'Y`$J\*E4MW44E#B#.RRP>,E8M>IZ9Y1A&HRL6\O(X9
M%HH@-O7:7EK%!(?7L127BP5`Y$0:U0H.I57:P.$S1?59O*IDB`>,!#`K$O>4
M&GF^F`FLVGMN2W994`'QRNU7OF86E32".!OR4K9-%11<X\WXBB]Y'CKB[JI!
M^.^&HSA_:RLIT1/A//90=TF`YZOZ$\[F&WZ?56=,Y7)Q&(=!$=TM_.'TM.-\
MQ?)V7/0W_`43D7$8+1\[9QTG%`".+6*W5[O99?>Q-<'^F6T$7\V1+,_8&$\?
M7O^(N)4[X%/.Q_0\\R9IRO'\B#AJJ=`I]3='1+W,7DL9OSTBQJ7>KI3R.]LH
M;YI(^2%>9HVDM'\\+MIU7>"I(-X?ER`J;.I4%SD]+MY5GN&4N$6*2H$+-LNY
MR&>8\K1(FZ[@J7%:E]*V:&'3]5\KGGF6M46KV#:LBTJMR9_9.=(U[`^M$*=T
M$%BDJNO)8=,5EI*U2#G7(UL56Y%2MTA+UZ->Z)9+^5JDHNLM9X6'3^EZ9I%J
MIL=W,T@B)6N1.J9'MLACF]+-N8RZQ\!7&;>8DK9H8]+C7'76E%*W:)O:COJE
M@KA%FY3F.&\BHCF5US:;7)NO!N0SK;4#[F8J-5/QOH/Y`A$N45W/$)\J0ZP4
MA0U%.KX>[Q61^64US#`0T+N\#DA+`C6S94RAE)9QXL)3C8R-8B:P0N<^BV\1
M)S@4:`L*FL#["Z:8(U\:U-Z<4"*B*]#/N!Q\52TS$:3K#0?VLOBB8PC[\7"!
M8S&+*SR!K6B='`&+>T*C[61`8?W#0IX.Y%N)][Y[',R8)X\#X\U*-0`/B<"<
MA`%W\IBO8!1,B#I<M[BT&>2Q>,M']>M2IN*@XV<<RV^%20E94=P$=MC*TL&K
M`)PO8P0E:$+QA*33&$KYJ%"7-Q)EG(=2(NFBDL;BH@L4GR*S(,[*!HM@J9'P
M@,$,D.ND]"O@&QQ_JL1PJ.Z-R?;5@RZ3P^NB9J(YBY)OE,_!\CIF6$3ZL&KR
MK7^NAVTSYX#\YH\Q]J'0]![Q+U@^O56<SOIQ*C3CFI6-NAPTC*FL[^'57F.E
M:[PFY<,MI%8>F:NLQ+S;/6?O6AFW6,:S[FIA95"CSH.NV&2LC&C4X5WD?K`R
MF%&'K,IO:&4HHP[A2F>-E3<'=)@7*[J*X,V6'R(:<%3E1%ED05H9!6E8D"6.
M!"LCD`K=-_D+$0>4MY5Q39HB+'"A*F*96KZ45?K2\MQ?.6$5$<C'Q5GESK7R
M#ER)]S&O?:^<(U;>AM-DN:FW*.Y0Z`YHX]$`]5Y!U@[,F^\8,Q'!,)=IQ_^*
M^*YC0.@T&B&J.(:R*D:RKN4`14&W7F1A:1'(EC>6,\[&&!(8OK7.,THJF,P_
M5>]LN*J6&2:PPKD$)8[3[/!6LE#7,!)[,IG`^C><W+ZX,T2G>`2+Y)#*`1.]
M%4?,Y)K^C/R2$(9:39C@J'9V_X((E5OU9PJS(7J3G()CK2:,Q.0D,(;TAHA%
M$D<H7R,97V15Q>14U#(4,9);H@94YR*/.J!DF\;:Q3M-H%";9:9J:SA)86?O
MJM0AM5&W':QN0OS(,N^+J\P_5ZN)=G!<I;:H,]FR==K!(K),TEFA3V6C8COX
M)#?55\I185(.;8Y:C;6#=WR!`DUQW45DH^)>HBW6>5_^#=8ZOF%?I7('HX4]
MXX()HU7%4#1>9"MP]DS`VKY:?A92X5Y;FI>@\CR7[;<U&F@1O]CCM@._H@9:
MQ&_MG-J67U$#_X\6+8VPDWD50)+5\77Y@D9R;R:O-@0C!QZ\B[$7';-$Z/2G
M1MU6##,=X47R4KOH[8^KF[75Y%053?)Y9)<N&-D<)PFJF!=*0>/2_5^S<BMX
M*1,RZ7)3-V`HV^UZ@@R$"&6B)6EV@VX98(#HXC)N>I5-\\I,F6A@Z2L1=5LQ
MS116A`3E<"+?)ZU!:Z-*FSAD7WR^!9^-ZJ:YC9&/4Z>6]A)2HP7C#.4.-(Q.
M!L7M"^8N$4I79G6]O5A$V1&A2,I29!7I5#,3NY_BBMZ<5Y576E'<-';-N=VZ
M^9R^B#O[JFX%>D5ALQ&+E8=VKZXJ:!MR5J:\V8LX"HT3*Y-G[$4<A1K66ASG
M1RN.>F>8J4`LBO2N[YC+QU:I-B]%YI2VA]/M)(W:1HJ5.1)WE)&&HR05BTV1
M]-O)15^E3:6R53R?55*IZ\Y(EUZ+-)7]B49AI:52L2C>=7]2V?2>I`*Q*,RY
M&8%LFFNI<.RZ)K(G]:5,(&_L7W!+CEN*MN<JO[\B0>C?0C;:IUEVIA7=44AU
MW*-6IB#=\P33$L\1+$`EH0(ZJ31LNK*SFP3*KV]8F25BGP+)W06Q,F7$;M(H
MO1E@92J)[>2A%QUG9;J)':?+,26BV$T41?%2BJP41[VIUKNG8F<BB]TD5'G+
M9<?;M%8*I?(ZG96).G:3B>JXV,H7F.TF"KU[18K4`D<]<2KNN"@2LOS-1*)W
MP421>>5O)JO-RT66IFAI:,$IO\!I93[.?8MJ\UZ3E8DU]RV6L@N65KZULH$I
MMGFO=K<W6YI)TQ+%ISRR]3MQUFE;!*AS1$AE'POX<^59&8/%1";$E6[9>)D!
MZ3TPG[@@NT<`=.7+:(56,HI?M"R=9;"-8C!I7)^)D..6PUZ[<ZQ!G`*59\RQ
M)A-Y:I,P#FE1)XI.7K-I.2_EJ80U3R;WRO'UB7"VA'730T?;L89,]KP]XY"R
MAP#LB-9@E0$-4<AJ9DZDX-N^&+U^I^$(BX"3>+BT'/KFNPME66O&3>YEJ2W'
MFMV*L[ZY9*&)=N74>[<^AV\WJ;7KU9HA,\93^3G""WDP2:?V`$_U_8<D+EE:
M`>%BX2]E>#()XJS]KA]ZP.N.T6F`^3S]J>7\KAEUX3-.CCPBXHLU3^83(CQZ
M4[--6U;1*Q^LD;C,F<L%CI;]\0(T2VN0I]/1'DWR#D^1?X\"6$YD"M\XE_D4
M4PL<#>/P2>`_0[DP/ENPG8)H/7G*X*U_&]`)X_,DMBA^*;)4'A!=#JE?SP_Q
MH2<!/\&^`7_\#U!+`P04````"`!!B6]`.9G^<E<<``!E/0(`%0`<`&=U<F4M
M,C`Q,3$R,S%?9&5F+GAM;%54"0`#JEIB3ZI:8D]U>`L``00E#@``!#D!``#M
M7=USVSB2?]^J_1]TWI>[JI4_D\PFE>R6/Z=<ZT0NVYF9NY<43$(2=RA2`U*.
M-7_]-4A*)"4`!"B2`!7<PV7'`L#^-8#N1J.[\?%?KS-_\())Y(7!IX.3P^.#
M`0Z<T/6"R:>#KX_#\\?+V]N#?_WSKW_Y^%_#X>#ZZN?SA\$H\+T`#VZ'GW%,
MO-?!;P[V,4$Q'CRAUS`(9\O!%1Y[@1?#J(,[+_C]&47X[P/Z_]T!_.FWBX>[
MP>GAR6`PC>/YAZ.C[]^_'V)W@L@P3,8^=,+9T6`X7'WWEY3"#X-WAR=GA_\H
M_/(0+@+WP\!Y=_+F[.V9,SQ]=XR&;\;OGX=H?/IN>/83?O/V&+][\]/[YT*O
M2X)10IP+5'\8G!Z?G`Z/SX8GIT\G;S^\.?EP]N[_BJW#^9)XDVD\^&_G?Z#Q
M\=LA]#@I<>/O@]O`.1R<^_[@@3:-!@\XPN0%NX?92'[&AP&P/(@^'12@OSX3
M_S`DDR,8^^QHU?#@KW\9I(T_O$9>J</WLU7SDZ/?/M\].E,\0T,OB&(4.*6.
M=#!6UY/W[]\?);\66P,=;KQN7B3K[5'Z8]HZ\CY$R3?O0B=AI`2<`;<%_:_A
MJMF0_@EF8GAV<O@:N0?_I!_\2$(?/^#Q(*'X0[R<XT\'D3>;^_@@^]N4X/&G
M@\F"X&1R3D[3_G^["IW%#`?QZE\4N-=![,7+VV`<DEE"_<&`CO_UX;8$8[+P
MQP1'X8(X./)@=IW@*,X6^!'M<"0U]M&N"!Z@Y[?'&%8J_<9H?.,%,,L>\N_#
M*-EBESZ*(F_L8;<N$,G1NX1RCPBN/3$*GXBG./8<Y#</#@1".,/G?HQ)`$OA
M!3>`9GO,9LAVO&'A*X]3X,PT]%T0N]=_+&!!GP?N"#A%+L/9''["003?3HEI
M`)7:]QJ?J$L436_\\'MT&[@>P4[<`*3M,9LA^TL8X^@I7*_J]2>C"Q1YT6A\
M#R124427.G#QT9L$L-@=%,3GC@/*,@;5?A_ZGN/!./@UOO!#Y_>Z@%NBIFU6
MW6%0-$#='8XBC*^\R/'#"`9ID1_5GVP;]&WP`O^$9-D)7N'7VH::?W,T!DL4
M$X+=RS"*HTLT]V+D>W^"\"=XCCQW)6C.85KB-C=$`S2US;9[$LXQB9?W/MV?
M8,N`*)XG]DT7*T;IZVVS(IN4=-?>!HP6G4J/W<AIFUF9*(_NT1(]^QCF#OY"
M%MB]\]"SYX/5A:-.V%27D+89](!]^)_4WHR73P0%$7*H0NR&*2H?;YL13^BU
M$\R<[[2N=_`SE5REW9K3T:IVD?UR^TL]1EZ`W6M$`K#MX+^CF'CIBFMUD<M\
MMFWPCS%\I72.H6T[6?'RGVY]CQ-8?0NR3"AJ<X^SO].E;4E/IW`T34XWF9A-
M3+KD/'M!O9V@B5)BNS$LZQ#4_KF#GMJ[DOS"K[6^__&$_ON`YR&A)]MN=K[$
M1UL'GI_K[P'#%%8:/>TOYG-_"6MRYL6TV?6KXR_HU<)=&$QB3&;Y3VWRISG:
M6C]UA($#_Y)T_WK1[]T<+F2^VC;T&^217Y"_P-W82^+/M6\D11C!4H1U>(5?
ML!]V=\J6_W3[3*#WCCA1WX]S.)QUA%_BJ^WO\Y5LZ>8(6/&]]MVM$^1_1C&(
MU8@>4L+$[8N#EEW0<I]M734NGB/\QX*JF)>6+4'^ISI07"[8G=A=_U:X`1V-
MTXLV:IRB8#D*_&Y<T$T0E3$.)*8L[SBWW*O[<WJ]_39A*?+]@T$V<!'VNI<7
MQ$>N-SO*VAS1#BW2`Y^BUVQA,'3Q&"W\6(VZ[>[=T!K.X.!?F]2T=YN4)E\8
MSO#L&1-%,DM=6Z1Q"D,09_&,AVO.J%'*&B"CUUT'`M$XH!+-L,DP[%!W134=
MJHT`C(00(`4V=.G[/HU="0F3:0G4"#N'D_#ER,7>$96&]'\D8G%X?)*%I_P-
M_O3M'#[MTL_?^&BR&LY'S]C_=+#]^U'K]%PN"!5M-R#/D/^_8.Y=@[$'4I%!
M&K=I^U2NYBS]]CTF7NC>P-\B!IG\MEW327DD1V7>LCL:"\L>MAN^!4TH(I39
MO#MJTWGD+TYVN^[H>X)A!60E/[=/32+0J,E*K[08Y)1_[XB>Y67B,0"+RL6O
M_\9+'EU;[3JC#XX\89`>\ZCS,QHM8AH=25T\?&)%G3JC/!7):W\>-6B9XD;8
MO"MJKS+[BT/=5='`:I^:&\_'Y!*DQ"0D_#59;M45;?>+9]]S;OP0Q5S*BFVZ
MHNL!3[P(]F@0?T$SKH#9;-85=;^$_@+L.I).&G\;;+;KBKY?L>__.PB_!X\8
M16&`W=LH6F#"I9/7OGUZ$W=(2L3YJ\?BY&:+]FEZ(HC*UL?E[#GT&125?U_3
MDQ\JSDF9,CB1K(;)#B=RY^JLSYB$,PD3:?7)D*6!!R%Q,?ET<')\?'@,_P>M
MD_/6!^I<P.ZG@Y@L</[',(CA('3M)SX+.,BEMSD'@SG8/`1FXM/!Z<%@$0&.
M<$ZI0*WQ8>.HN@M'RA;4BB&'QR>4';U&MG'6RZ&=]AX:QRS/(9[M#<2MLUP.
M\LV>@2P=K'.8;WL/<T-WY-#>]1X:VS#+$?ZT)PBW#I$YQ'_T'B+?"Y>C?-][
ME!56\!KJR?&>0.4=SW.D_3=R.$>O'&+_C1VFOR`'V']31\8-EN/MO]7#<++D
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M-.52#S]IH2D_WB79##SZ-IOIH'55]`!LBDRJ5!ERHAZF(*C<M!6=]B5.HSY7
MUY5"^-*AU&2_;LKK\ZUP0..PK=A",X4TXVXK0[F:;'8W$[%4V%'2W35C$PMD
M0WP"VV3(<]^$\T*!'&E#7-Q'!XK$P9!5++I^I6GG6+QZ!!UTT`^4I)JYTGQB
MM=1$<8%WY2I18M;+]-2/*"&JTJ`2]]&#@E.YBF_1"+OHP+!90.5\/@<2B4==
MB1P,PBXF8/@:('44&YTTX8"5`$?[S"G/I[S<3`>MZ[N1K8NY#6H9#;72RTJG
MX#320Z>DM6R(?:QL$1MF`\/Q'*\NP<2ZE-52"\7%^D<B\X71L/OK?"D//[TB
M+KO;UM?#9^;%#RE#$M]EYE#-"R!2AEIVZN30S`L<4H8F987GB,V+)%)&+#KI
MY4#-"R%2!BIT4>=(S8N=5A=%O.5J7O"T[,UE>8^*3F0F!U+70:MZ`V=RE'6]
MV19Z$4P.MZX#M^H:RN28ZSIXM\,K],=:ZPV"U#%CJA<@Q1D4.>Q-SJ!K&#MK
MN9N<7=<P?+.S[)H`*VIM<NI=PQ/-N>PU.4-/_FJ1=:"7"K\V.7NF'OQM/[7)
M"33U,%;%')J<0E,/,=,3JCV5IG&8XBW:"PFE?CKD1)NN<9]JLJ>W2G!47R^5
M]6[Y4F</*W"H,83C!\K7M[F.#Q6`0H/ZQ%SGA@K&(B)S_1=RB.3MRUPB:3H1
M5Z9NBB^4#<[?E)E,%<.?&4>5SY^YQJX:S.U0^QRCN<:N&D;6E7*.TEP#5PTE
M-[DPAVJND:L&M2HB*D=LKL&[&^)S#EZ3#2"EQ=Q&;G'.)I-MJ-T\<T64<G:5
MN:4'R@^9Z\U#`UI&)"';333(/29)Y1%.<)),3\V9=6GAE/-%/(7U\2<WD%34
MPP@$24TF:>JSUD90SJ_=+-5E7W+L6J#FVZG-IV.>8Q3%F&1G_;@DA5E%)U-P
M5`N&JEXV9GY_8N9+Q]=TJCG$LEJV'RJR>E:I:,[V,%:DR=@7T#_Z$=G;AV;=
MO+*:M`^A/W40;^O8/D3YU$?*KBEI<(R/'%2I0VT?PGJ4X8H6L,F.PEHP5\?B
M/D2%UX3(V:`F._=D<#+M/>W1WJ;<'&IV5Z:^YW,_QB1`L?>"M=1'I5?HM[,Y
M\@BEZA+6R(1[*.`TUN0!V_3B5U3^%/4P#$%%8K!,3SV((J""OA\>"`JM%=OH
MHI(&5V3),+RUOM7,!%HK%P:GN0[:5_>+*TNP@G9N<Q-HOT"1YT@2GK8U@>HK
MSU_PRWKP6AOE?=?#Q]>Y'Y+D[C?;23P6;C?40>_/.,`$^32XWIV![4(W#K4G
MQ,17]=)3Z7!]'0^&X&4(*R%8P"(=@<&8!N5>X'%(,J67Q&%_]H+$RKL-P(["
M$<UE+8^27F9_QG!4<VG2?7J5SQ/[75*@C\-`=S;-%[`*QAZ_K"2[M1[*4_:*
M5_5F*UWU.M,Y3OFWHHE+,J>YO7=,&03&;;ZA.$PLM]%")9SR4B$13%)2Q"N5
MW]XHZBO,MNI^6BHOEDD2K!M62VVU(AD'.U98&G"5>F("5QBDECYK"*-0'Q"^
MPNF_/#9T]7F3>$LG6TQNQ>)O8&!M_-A8^"*$FTWU5/R+,"+.%);=%7[!?I@4
M*Q%+6'$?/2@2OP=/&*U_UDE;Q9K?:J9&ZV1!<$+!R6GV??J7;X_8AT:3SXC\
MCNE*6Q6-6B\]CK=&L;.-9=F?6)9?03%-8^R>O\`L3_"7!;TL&8TS-X9L])/J
M*`8AW2).Y*52&\-DE-G47'D1#1>!_9]LE0JIU=#@^N[[%&X+BA>`&T>G/MS%
MUT3:A)'7ASO\FNP1WI?UX6*_ZBJD#+9T$=6'A&<9>*J64A_2HE6FM>(,H#TC
MNF&XK&L([74H&L;("S_H0W:T"L[**YH^I$JK`&;[&/J0*JVJ:,JQ!'W(D*ZZ
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M_ZRIO/P5$5C'L;`JGOHXC<0+YI]]"@O)_.DGF(6-I+MIKN<GW)/;[8RH/FCK
M)OZXN9*)&J="+PQ@6S$)%;?M)=6V*F1GV5D<#?`EC->/\#!E)J^521DH-KNG
MB:J7W@O8W/<^<G"EC<YIW,B*!+LNJS?M)%QCK<>M-GHR/?@5X(7<D^AH`IYR
M#7\E1,RN6K(P'!P@V&-?@VB.G:2&N5!+\=MKS2'94)X10X_)];&9.PKTKA:#
M#+=+;6V^D8C.[0<2.+1N-=1&;WK6NEH0$&ZISLXJ%SJI9X)>QHE@2/4W#MT7
M_#WYJ1:TO+-QN)(?1XE+-[I^Q<3Q(NZQN\9`S61R5GXW<P=Q$=0>QJ#Y2AQ[
M]3?9=G?3L-7<8AM]34/5P`83C-/F_LH_N\OV$HW2"/7)H7*,R5,H.DO`N33Q
M;-"$'_*R:1/L,)#VFOO"PPBKI7:*"_J></>"J(=V!+DP)?1Z)HK3*"(9*+RN
M&I,:1)Y+3HGCU:+K0T2\-#[FMNI#`+PTPHI+VSX$ODMCE7%)]2$VI#9@ML]*
M-;[#:,BRP14Y:%T1G3]>RE6ENW&=?\ZZ=]&>3=$4PJH[!?UIC^*WDI3\KZ5(
M5?8FUK]TA5NQ6;CVI:4]S`N2?>G#W'STQAYMZ7LTO?"%8H,K]D@F0'6?S6EP
MM9_:S]ODCHK]R?^3\V;L3RY@G3N0_4D5K.&?[G_J8/VKH_[G_]5VZ^]/7J#"
M774.NN\FF_S5X?YD1-9(.]B?5,GV\U>T)U$VES#/*5QJ<`E'"2DOE;;2A[*-
M$EAK7O7VH8JC!/KM8.`^E#1L0%L7`D/Z4`MO=U7-!*Q+5:FY2UEQHB78?)^Y
M=D?IWJ;K-P!,TB^>03W=*ZCE-9U!/.O)D\"7*)K>^.'WZ#9P/8*=6$L2?-%,
MI39FX'@^+AED8+T`I?<D?/$`^\7R*]BKM\&ZAM.Y$WLOP*_*QT1:^926=.I9
M2&+OST35C\8W7H``23!)*G?QL(NZZ,=P1YW%;E*?60I`L;T6ZOOZD'5Z[DO8
M-WKVO4E:(0LV`/7X<Y.J*WKI01)-N>3"3[IHH@+U"T@6^)]IY;"T:OYZQ^4B
M)"_54O70\J[#ZN*%4MJHH(,.^J\PG"8)=M6>,*WJI0?)')2[A[);O*(@Y:+@
M]]"20#\>@W4R&E^_.E,43/`#F#"C@"X8H([^0RW.%^0+7MI5&L(66N#?`_\,
M)%%+Z6L`>]/W_N0J#:4A=&!<D3$*0&3.P]3_/1J#\0?F'C??KJJ7#B2%TI;4
MO<NA?+.5)DI+HOTV.'><<`&;+@ORH^+&<<@"NW<>>O;\1*7Q`=49S"S<<`[!
M('CXR:A278W!1)F=+;&E*JBMOF:@NEI@>EQ,0HGO$:%K*!5J@G?,Y8<P`R.U
M*0/XFLIF*_8Q`\7ZG)X=6"KL:H4!#,%'H[;R72\_55L=S<!S3S`<BMV5T;PJ
M4IU5:4R.S?(8I08S`W=Z184F6%5(;G74@R>MFBTT-0I-&DGE7`F;Y:_$B_%5
M^)T>3*@/[P4SA)94%UM2:WWYS7)Z,EP+G-E6&,!L?!7ZHL9`!N'-W48UYY,U
M@-GXZLVG:""#\#(N)=1PL@8P&U^]^33M]L:6,)0L8;CV=Z?/.3(9Q6BHI2P@
M6B;WBC<A@>7G8.PF[X@DU,D+7M51-"-]P/,%<:;T4FA<B"^K!L?KJ!//4YBE
M.23<!O:["\IH+#R%2'8V`M?*0WGOHX"^>$,=WO,9WXNA,(">0ISY!J$146""
M8>J&+:?2\K#)==:-J[!EDH4E;Y*KCJ(;*4B$C,K1^`H_R\S;5A>3,!1\?<L:
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M7]D,#Y2#"OM0`;,AUDC$,_>A1N9NW)"/Z^I#Q<SF-XTHPCCGB+F6=?,<J2H.
M;W#=T>:9L1V^G//!7'.Z73YLAR/F/#'7N&[>YA#QP5RCNAD^J*06ZR]G6YLK
M$JFG+).C*N6H#^]%-<L1Z?2Y/KPSU1!K5+(P^O!`54M[2(HKO3OG*7)%)?6_
M#R]6U4\-EWG=P>!G;IL!WLY-KOX7<SM<.-*5%W*NF&OP*[U*RPA7[\.3[DH8
M-\*F^_"@>T-O)QO\C+L\PLH$2>V/N-L'=AM_J*F^OGICL-3:!;W02,S1&RS3
M=D$O=$GDZ`V6=U+HU6I@YP%1YGKI)9^:%M21SU&::\G+HRSB,=>REE1<4MF#
M.5Y=#J[\4AV/T<*/*S#W^0FKKE[K^G9J`%C[7M>NCUCI>Z=+1@@I)"=7B25F
M`G!N-YCK7Z[+A-W#L7/NF.MF5LSUW@@)*S^GD.]Z@_7R+GB+!9USL'*.+!V/
MV"6NC:<P6Z[(7XNRZ`)%7D3O2'!$69%`#]Q';Q(DCZ,&<18-2U_5#'W/@17^
M!`1=^#301T/B_D[T9O1LY/GO-.2^/'VS7R6Z>UOLID[9&!LW:SV*W9U4=Q/`
MVBT#4PXZ9ED!2=AJ1$N91!'&N0G;@*HW2\W5%]'5+&)+[>I^5FE;I6V5ME7:
M+2IM">%E-;.1FGE='<HJ9>;36@+NL`6RL(M5Q5856U5L57&+JE@LLJP6-E(+
MYW-%\]72NB%)7=0L[9.6BLO*BI3KB-34U9R'!!H@HRP:FQK5>L&M%K=:W&KQ
MO=?BC8EAJ^B-5/3<"/D]/G[OE])3FD&VBE$:PBIVJ]BM8N^]8J\G/JP6-U*+
M%XLQ1>N,EV*+5JZZZPO(W0AFR]/=QK0G>A.-&ZOXK>*WBK^EC+*=1+"U!(RT
M!&1J.1MB`]0EE2U4ZXYF];[5^U;O6[W_P^C]VF+7:GPC-7ZQ?&CA:;=FM;S5
M=>WI#I4)9"L6E1&L-K?:W&KSO='F2L+#:G`C-?@3>K7*NB?*^H=29;N$;G(6
M=9D`44NK4*U"[3K0C;=HK>(T4G'2US*2XH:%FXQ\_O36;9&FC2V2I;M;_[4U
M$^R)URKHO5?0ZH+5:FTCM7;ZJ"YVKQ$)O&`"_QW%Q$O=%O;TVY):XYS2Y.:"
M<6B3ZVA5KU6]5O7V7O6JB`JK=(U4NLEC/=/0!PP1#?&/E[2M=3O;\Z1Y2JU3
M.F6W!0^";'^KLJW*UO'.AOP"MYK;2,W]1-^R69!E,I-635LU_0.J:<X>8-/+
M:6P5L%7`&A0P;^E:;6NDMBV6NKD,9W-@3%+R/8NS2ZK>/$X1P1<HHF%WV2/C
M6F^:=R29+45W'=7>2UL#Q3K'K:+_813]SF+86@1&6@3KQ][VV%F^2T%R`7?8
MXEK8Q2IJJZBMHK:*NM6"Y"*19;6PD5KX,5UX#W@>$OK4VAXKXSU39!(3Q]$6
M$CVM:K:JV:KFO5'-4L+":F@S-73^(NH]])^BB-:625X=7UZ&LYD7TV;7KXZ_
M<&%J[\)@$F,RRW^RBMQL1=[<_')44',?L&:!-0NL6;`_9D&#HL=:#T9:#Y=A
MX,"_)+TR\:+?#2E2*D476W9*=;77Y$;:.E:76UUN=7DK9<>E!*K5TD9JZ1OD
MD5^0O\#-5EDQ2Y75%\-B]K"ELKB/5<A6(5N%;!5RBPJY0FA936RD)G[`$08.
M3<\#]PJ_8#^TCW9J+J0B.Q]E@A0[6]UK=:_5O;W7O:HBPRIA0Y7P"R813E+[
M'N>^9_6O1OTK,15,U2O1SVI=JW6MUMT7K2LC**S"-5+AYC?ZICQB64$16PQ6
M=+)WPM8%;16R5<A[KY!EA:C5QD9JXP3.9Q3'8%#1BNRP,KU@@J'5'MX*[Y<R
MDYLZMLZ0ZVM5M%715D7OC8J6%!A64QNIJ1\7SQ'^8T&#Y%]P,_7*K':V>JP1
M/=8EG=QMP"&9V]YJ8:N%=21"\1>PU;Q&:EXPE%Q@!G;7O]T&XY#,DO#WT?@>
M$6A%R\6A8#D*_*4Q;NW=R>;YOG<?V3K(K=5B3]]6[_\P>K\1<6PM!+Z%\/&(
M?N(911C^X_\!4$L#!!0````(`$&);T"_3<PMW#```%.;`@`5`!P`9W5R92TR
M,#$Q,3(S,5]L86(N>&UL550)``.J6F)/JEIB3W5X"P`!!"4.```$.0$``-1=
M6W/;1K)^WZK]#WUTSD-2)5J293MKY[(%49"#"D5R2<JQ3^I4"@*'%#8@P`"@
M+.ZO/W,!2`#$#`!>II&'Q!39W=,]^+X>S/V'?[XL/'@F8>0&_H]G5Z\NSX#X
M3C!U_?F/9P_CCC'N6M;9/W_Z^]]^^*].!\S;C\8(!K[G^@2LSCV)0_<%/CO$
M(Z$=$YC8+X$?+-;0LQ^)%T'/]?]XM"-R#NS_4PA\^'PSZL'K5U<`3W&\_'!Q
M\?7KUU=D.K?#3L#MOG*"Q05T.FF9GX1W'^#=JZOK5__(_#(*5O[T`SCOKMY<
MO[UV.J_?7=J=-[/WCQU[]OI=Y_H[\N;M)7GWYKOWCQFM;DCLF!J$*?7X`[R^
MO'K=N;SN7+V>7+W]\.;JP_6[_\U*!\MUZ,Z?8OC&^98*7[[M4(VK7$V<@^4[
MK\#P/!@QT0A&)"+A,YF^2BQY23T`K6X_^O$L$_K+8^B]"L+Y!;5]?9$*GOW]
M;R"$/[Q$;D[AZW4J?G7Q^;XW=I[(PNZX?A3;OI-39,;*5*_>OW]_P7\5TI'[
M(>)6>H'#JZ:&@R"58']U4K$.^XK6;>?ZZM5+-#W[B17X0QAX9$1FP'WX$*^7
MY,>SR%TL/7*6?/<4DEFY%UX87C#]"Y_,Z0.<LA+^P1Z@*.&_DZ_/@`D]C*R-
M%6YA%5VLHL[<MI?"B,=PFIHZN]#FWB2(;6\?'X5BXBC_A7$LYRIYB8D_954@
MOF5&%$]4E,'`P(TRLX&3,^@Q6`1A:?#<ULR.'KG!U&]&D0OBQ9M(.&DZEU=I
M-21?_VXX#B5Q'`WMM?WH$<.?TF_"%9GV7/O1]=S8)5%W%8;$C]/B>=`_GNUC
MX6(3(;.1BS$D4;`*'=*HTIB5P]WZW7MD5A8>M<'2+O$[#^.SGU(+D)@`:@,2
M(Y"Q`HF9'X0_QPTQILF7]/3$N4SBM&F<=A(G>5D2/R)167!&F(>I'3JID_1C
M172)Q(43T*2YC#NY9SD+@\5^"$L="O:OH8N6TO#6C1POB%8AF=`,<T.]^>,`
M3)19:QD]2UP\E*I;D_`;,PK<ZO^UE[H-ZJ#;'3ST)V,8&E^,FYX)1O\6Z)>C
M!_,6S,]#LS\VV\YB!<2;,EI6<9CL'A&'N,_,Y3Z)Z[6JI2H(/"WSHXJ,6QV@
M2NUH)O>)(]SHM($_*A"5D40:,1(35HN5QUZD!_$3";O!8AF2)_J*X3X3VHD+
M%J071-%=$!)W[@MOG?4DM/W(XSTC8_KO510O:`PTFL&,]G?E#_SH)>GEW;'=
ME\,\+0EX49`K"T1AP$J#I#A(RX-,@;`MD=-],&.C$6ALUU1[75$.JZ@X4Q?V
M1A\Y99R*;85,<Y+:1DY0I0[>D\4C":MAIU+&22,*CVID!@G1?Q,&\%Z@]X_N
MK\+<&C"4D+&J3E#X-9VZS"';&]KNU/*[]M+E(W'E#U@BK9-!Y2[(*+.1!B9.
M&T](%)`8LJ_W2RK><7UPY-YKXX(:,CGP*\)M$=K5C8A2!Q_YZB9#BG_LIN*P
M8-I/!T6+4!DZ#C72%BF:!!(7QT]V2/C$)7NEI.^3O"T;D3]7;N3&9$S"9]<A
M0Q*ZP91V<X.YSZU\LKT5D>+@Q,5J)>AI8Y'28E,L3`)04'Y;.&1+ATWQD)0/
MP@'(>`#<!:QD@5*Q5A2MV!0R!#.(XL#Y`X(ETXD@#H`LEEZP)L@S,9I(FT]?
M&AY&6S/@KW9(7^)CAHSM?/(>:,W;:5F.RCEW<-))K($PU]X$4B?J;$;X*N1Y
M,O`#O_.720BE&&[*\-W:0J<L2R2^X_)Q]>THUR3HVM'3,`R>W2F9WJP?:%*R
M_,&2K<]R_;GAQ.XSGZ`R'J,XM!WI!-`IBL(B_I'\KY<;-H7Q8>CL\#7]D94(
M:9%PLP96*$L?FV)A6R[\EI:,UFM!J42:8<)-)?JT$EU1B2SST+\<5H?+M`X?
MU_0U):T[>U/<A]:DI2/S5)JYCOE\FB6W^2HD/&5=O4X2%OLFXQUU(E@L`G_,
MWBI%#N6O3%$!=[75CIQ(IH&S8@7RU[8]?:K$-8.OPW63MVN7:Y]#Q/5/PO"R
M#'F\@%@^$P%QY>251W2[3A./-&,=&-0=0[YXGQ-/`U9+&E9(V-)HDCRO:.FY
M**/R3=G$4D2C"MG_728BSJMY\'PQ):YXC:$?BF\O]*O?#>K$E#ERY]GSPK/;
M_5W#>\).H3*XIS+`A/2"^G@^GAJATD?,H%@>!LK[\R((8_<_/,T/9G>N3SLW
MM!'L!E%<;(IJJ>A\GU7X(87%5H4MA]@H`==">J5L'H?E4ZLDBMGND60`'#S"
M]B`$CYX[YZ90W_9JH"KWUE95!?C4Z+'JG1I11*3]0ZD\&BDR3M1DA-``KM(&
M.C2,()C1;A!A<T/@L47SG!2XXS%5*)+SH!@["@E8Z=:"UFC(VJHN?4.:[W12
M*H1UPK_4`QERF#!LI2$11\)]$]=_#=V8=(+9#"ZR`7AL3(728!FR`8!X?0Y+
MCXV\,BJPH?>E;!5-_?!J[!D[77S[A*:-Z$JFY%@NKPDTBBLIK9_"2LJ>B*!L
M&V$E066.\4V(('=/*PKEJ,-&6<46BYR,=LQ5;#[@,J?=,U$/@FH_!1(3F=8@
M4K4M8B<H='Q6S025RF+AM6H:(8=;_`F4!JZW%,3*^0=I>'B@[M/X:N3=C)AV
M*&_+5J-X*X>9@"N]%3F8K0E(Y,!N"81WL;"+WD)X;0!NK81<(HX(Y'II>2O?
MDLQ<.P`JV&E;@I8#1H5R]#1]8T=N-)@-Z6--IUP-?SIVY[X[<QW:RTUVCKK^
M?!AXKN.2J.K`@8-,:F3-(7Y*@,E-LK',K%%^_D#&+&SM0FJX!0<0G*`Z^L;D
M863"X`YN'L96WQR/^3D$XX?[>V/TA7T_MC[VK3NK:_0GD)Q98/4_PG#0L[J6
M.<:D]3&8D:7^P?6+D1Z2!7=\.'BPF=^IZ$M7*&FDN-H3V:M_,JO%M2"CAGMH
MP4&Q%&?HSB%M^I=LV!]WRJX>R+)<JE$7+6*+)5I[V>ATE18^7U)7&A,F56P5
M8RJBL3A>7<7T-LR"$&SGSY4;LC:\M=,"->%8@UBY*FL1LRJ'%ZKU\-E5V:67
M\^O48Q)[,JQV1+O-$EM2',S^`JV3>C2C7L5@,RFZL3VVHV3\1$@LNJ8WZWO[
MWT'8]>PHZDO7FS0T@L2Q:L_J$"Z"Q`QP.\F``]LMP$T!M\5V%^!3<.^`AZHF
M#%;^E(3YUC#B3&T++>OC6,;1FC6'3EC+3U:HV=Z8]B$)WVW`ENM0ETG],R$/
MLXE%YZ:.UF.WY</&+&SMBA5IS'*[SHD\18T,1X.A.9I\.8=ACX_$]&_!_->#
M-;PWZ5\/_5MS!%UC:$V,'O1,8VR.SZ%O3EI#_WU9(<T&>]4K3G*(GJ1`H3]I
MI6KT)&5<]'02MBSY)F[3GZH9(W?,&/_,T<X_,,A_,GHF.S>U`R;]>G`'7TQC
M=$+?*;S"^`3>WY@?K7Z?C:6>,H8:V:HQ*/1ED"UU\HD@<1F+SW=>\)5U%.A'
MRW\F$=\9Z$\W2].WNP2WF:ABDO)@LYKSR"&^*N`&S"XDAF%CF4_0;/=C9+;\
M9EM^Y"G2$U7+^&$X[)FLG:=M^ZTU[O8&XV3.IC_H=WAFL?J?S#&?EV')YL[J
M&_TN_ZL[L3Y9$^1YFF-1II@##JYLK/PA3C:Q?"=D[S*W1/RK@)5$03/GR[U0
ML3DY)RA5@50'9WU.XQCH&S2E5G?$7JCI!Y`VY]CL4@.JR!M%':`P(E@L7+$K
MOT'_6*VDDQE*3V3LV"JUK/.Z5S1)S[,[N+^W)KQ+REC"NJP&;Y5XES3S,RYA
M:N$M1YKJ2L$B3K)%77E$Y:Z<9GKD"E<P8G,R`N[AD_NXC`WH4AP4,;P;%#)L
MAW8X"/GXS90?[D9;)G[,0O6#D6KB0%OF3AVP4UT8A&)@<RK.460O3N)<$'0&
M-(V,YOA!'\:30?>7<UC2T)YE!T,BT*,*;Q+"*.L`F4+B6!)C%3\%H?L?^1(6
MA08.98INU*&*T(&M$CH]ZD:1HT5R9HZM#`.!'C(L26A1&GLKZ*`\@%,FC4D#
MY;&2910XX7&9]8;L&T5@]F]9-^#&Z!G]K@G?N'["@6]1!^X;Q;`=K]<51O,\
MI(9160YRI3A"RS_RDT=5\;8B[PQ6,;M6F%T'7?>1954P,U#&CP9I**/5HEQ4
M'<M?)"%5!_)7R$HUH%66F@(UMM#R4PG)E4FJ&#YRIE)=M[`CAI.15*?NY[(0
MXJ4#==W-(/M[^)_+5Y>7EV^W_>+OX>KR\OQ2_+?;+_@>KM^<?_?F[?GUF]=\
MR1_[\_KM^?NKU_D&_/OTU[?O+JG"M40X0RFP([:,]Y8X?#0(KJ_.@8&':](/
ME^=`-9:$S:$1;]T2!DJO'2A]'$A,*]ZF5W'UI4I#+_]D;LBIN'OQY*GODJR<
MY&L>QN!^.#)_-OMCZQ.;YJ-_H]Z\7`-!!>0K`VX9":K6P=30;`<IJE:SJ,F!
MOUIE_\A*^()Z?'P#M-4D#OXJ$1:U'X?B8APW^J/)S'@-5:T4JO9'RJ&,*C#=
MMDV6[Q_:`WTEO&>KM@>TT]:?L(GR01^71?4AEZ=1S4I`XM&4$IQ,-ZO%+7\6
MA(OD$-6AS79ZL41@^^N![ZT;T>Q@RWI9>*B[<I(*RYE-&AG;_*P-;AT2\\#L
MMX[()ZJ=H3%BRV$&_=Z7=%VFT:.-YMU@=-\&RA^+'86,<)3:Q$D8$7T%&)%G
MXBM&2;(R6DF<*5A*QXB_8R922.?YUO8TF/$-Q:'<6WUD*'GR>5@78\(":&3X
M4_.%79PH/6U[1TPS3+-E*YY_Q%?VIX*G!BL_>>\83ML53NO$;!D8BK#=":P-
MR*T<"9"((R*YLL]?1'0+NOF-(M@NV34_#VD/WQRS,]9;,"2FAHX*[T?JR]>]
MN2DYX>B.OM/8WA=BAZ8_O:7)I_!\E**:[G.2E5]QX*Z0!Z8`5`.8BOZ+GD[L
MO(X;H*J@DEX&I0P5(Y/?DL>8,BRW(7O[$E]Y_&1M=8V9OJY/$G@Q=9[X"T<7
M9$RTH)M[8)"Y`P9@<-.S/O(N+.INCJ98S#85C>H#AV@SPD[U$J/3$_LE:=1N
MB$]FKNS-J4I+*ZV4KDC9)+32:1,V7Y(H0J*)1:"#PHEI'+;L\BQ]A*F%J3Q/
MJL/&I`>;L1''-I-8??"I2@.!%B5N5&&(<2$]'IS$N`>>'A#&A@JH_><:`"KC
M@2S>MG"@\M#%"B5D)E0>3B@C`_9ABX<%TUY*J$]2K!$U#C&6(7'<]!CO[.V)
MTL<GU]!*":D;4@AM-7@O)*N#186#@F`#K'9%$/H840FD/!W4D:-P8=.I&<S8
MQ!M]>1/3]<1CX^)\R(PO5KYAEXH.[37?ZU[9CS_0JDY.'>:J#++;.>S!#+)V
M(3$LKHX6NR6`VX;4>!O&`TY2*WRM<^?&&)NW[,@'-HR,/M-])`+D>'Z$RFN6
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M>#ZNY_JQO`.1<B3GP]2'XTP+T7-]8L5DH0)SJ;AF1)?Y4`6.7&O/M("K:7ZU
MT1F%3J2K0%2$NS1N?9@?IB>E2!8;ELMI1GFN\"I@)$TXWA+#4WFM$\6EL"C"
M=S=`?;B=4+.*NN<_:T8I*[/J,3,9/$0>XJ%.]&4?;A%TFQ@P)L1,._1=?QZE
M)WE6[$60BFN<PI+Y(#OA*A'?'B6+OA>A:03&B!UL-8:A.8+QS\8(=0M"%6*R
M4T/*0-L`=W;3N5/S*0E91*!S!^JCG(NW`^`JSV^,L=5M$Z!SF%"A>1M5&Z!\
MZWHK^3Y4F30BG!,7Z@,Z46@'I-7>WUJ]AXEYVR98%_"A`G8V-A1HSV;$B0<S
M\\5YHK5*1O1M?."S&UOX)H7HR?QSY3[;'EM'('M<34SH)$$#OV3,X";81'-J
M!)@5&/C`[QH2NV_HAXPI),X<(=B[.[,[&;-+OLS/W9^-_D<31L;$!/&9_M#2
MVXCVP7".DTWK[O0]53[KY))H8C]Z95W5_.^:^JJY0F4@2F3@-RZ%,"YX+"]U
M]%E+'W/::=T-1!/NUEU^MI)G^5/R\@M9RRIY1TXG#HN%JY[T&A)AX-)`Q9%P
M>0*OM>%4!HL<7DL#U(;;^F>CUU32B^@]SA1/@()P3'H=L!\EH/.:$6DD0LWC
MN1O4A#:*B!TR([)D6P3\.;MAJ'3672FNEQ:E/E3@)SEZ8:,$0@N-"2>.02/V
ME0`JH%X>M2Z\WP8+VRVN<]SY62N>19GJ9_^;$,)Z?3[81WUXS#_@//XR4>C"
MVYWKD;!+.Y#S()2_..>EM*(O5[3Z`7-12&6QH'A4A_7ALA0(>7CN1J8+I</5
MH^<Z=UY@%V<?RV6T(C13L/IQ"T'@DECH/)JS^I!9\O#SN"S&I`N5(S)WV:2E
M'_?MA734JRBF%9OYLM5/?"L+3!@+H4=V61].R^&0AVI)<+K0^BGP5GYLAR*-
MR[M013FM>"T4KG[Z&V'1D*)UEH[NM#[,2D"1!VU9?+I0^ROQO%_\X*L_)G84
M^&3*KS,LWN)>+:\5Q1(GU,!@2L"U(%43-YB&6+C>.XS.'W7#T(?T"B#E$:^*
M'&76^\^5&)1;4F?8=J^200*UK,YY[#('9*#ALK`11AI(.+GKVJ:654#)S2%+
M(T7!]\O2"\3M*,FQ>;('M"NH$]D[I<NPL15,#V5$NF1@+Y<=MD\=%<92/.0P
M7!X;!H#O;#?D=RHV..)7K:,1UDI')'!A.N)JT9:=W[M7,(8U@D]&[\%DBXFR
M5]",)Z.'>^SU0K7`E25&=1V@<"0(B3OWQ22+LY[07G!D.XR]'VG;TPNBZ,$/
MB3@90_9PFYC0R:`&?LDP*$Q`:@,R1H!9`68&MG:0&I0CA+I9F^BQB&AXKD]I
MW7&2JZ\>;2KMX%X:L@]6<PQL6DL8A$Q=&?@T3RR#R$WNG@J#)0GCXFQ072V-
MM*MP10*_+9D&/F04^2ULB2H2N?8+B,?"\`M3KF5[[`BN9:)T#DO/3HY`(?2M
M?\DVEF%RJR;LLG2J4R\H#"(^"6V/'6$Y7;@^']IE=X&K.S%56CH9I'9%QB"A
M)8Y1S>DA]W8."X<?J)H/A[3@`JN:(,OQI48]8/!%'([/F'Q'0^P&?NSZ*]>?
M#RB->3\NNB$SVG1N#M$GT;WK!R$_T8B^(Y"(W461MR)&,NY)_!307YZIR$*Q
M^4.G!QIYK#$L"8F2:RAX6\2T8>L$;+T`X4;FT@K::4P]@=05GEAV#"8#;L(A
MR'ATFHXFNP=/U=%L097S.\?@QKP;C$R8&)]-U&XJ`KFS.4_W\\#+GVQ9(F&.
M5.S(ETEKSTL[+JASR$8<?3?^2=W7RTLI:'8Y5!XO'MXI5^O?.:Y4T8[\<C_4
M^&$7=K3JYN]]0A%-4TO:)#6`=@F@"!65!20:VJZL[U.4PL"Z*+H2WO2=C\DA
MH[F.LS$3:P6`\\^^%+.9@%!A6NL"OA9<O-?LAKI3W;.W]V!'0_?;EI&KK]1K
MVU5ZU)^0W7]Y2\2_EF\X3K"B'8*AO6:;GMEXB^.$*S+MN?:CZ_'MT/*GMX\Q
MO?38PT,Y>[@12*W1#CRD]B`Q*`84A4G(V$1K*(X7_R;491(J'VQ,0FW#*.-A
MX"[0=M]Z:Q>K1\0A[G/)B1:-5%O!V*T_>_%SJX[7UNT;V2:(4!D$/L]VX5:/
M584::`V'&,&3M])U4Q+MZ&*SJ.A00QKQ-)_V?-:'$^FH;5K-V(3[2[G[J!22
MH:V20Z71MX-$MRLR"9*[TH9VR)I)]=7-C4R@4DKN5Q-F42LP"387"2:&<"]\
M/D*L+*PXH`V6"&LI=-I%N6ILJIE742GM("";\_%I:4VZ<5D=5(IE'&G"J8Q:
M:U[VZH2B]!J/)R404A.C&&L[F)#,HOKSY/JZZJG'N@90.2+SJ@EA-C;2ZQS;
M,&UY6)Q=OCXW`M=/;EOGPQ7>MK?^H5TDJT*GFG'*RFD)_=C]D-N.7OW6:$<1
MEVX%;QK1C-^)FE%N3>M4,RH10*@.`)%#$HA5<*<L]G9P)KE=-;U\-9E$R%^V
M6OL9US*&RJTZ'C;A6WH?\>;*XG36JWA!<6MX>$`-<-7UYJK0*>&+S%O&T":`
M5K.V=DVU@\DC$MNN;\])TY'$'454AA:]:<+&C6[;Q@]K!D7%*+G8+IM6#B#*
M$*:F46GL.)01"UC5^TZ*4EK)D"M:BOQD_3?N+I*&SA*YL_H`7?K\\^C=#0H3
MJLJ5;!D1!)`JEX4E#QUS_5I]+Y<2+W7C4KYTK1`+#B+%@-NZR2)CA8I6Q,K]
MJ!@H7;=MC7'S2/J?S/YD,+*P%[15PR>/^8I(43G0)_(AW8P(!L9IN968IC+(
M^*WV$GV*8O=1E^(SC:09'N<4SQQE5Z\3C+%OME9_#=V8W`9??=K;'!$G>"8E
MLVNU5(Z,P6ERYRK?*[:'/Y78Y&H=IL?'&+::)T%L&:6.%P;P,(S3AR$EW@&Q
M&)X7?&5'C%Q\,R)4,CDPP4Z__A9F00C!8T0=B,5*S8C^U%D$SVR6Q\7E<1,Z
M,5[7KBBL=D=LJA2+O=,70D66+177W!Z5^:`@CA!/=S2G"G@-52/WDZZ$RZ6Q
M&RX55HJ-F#1*#*#WV(A1-)CU2!014K^G4:VG$?J5SL@.J.%Z['P=H=FNKL>^
M41GCL3D9@]']UX,UMB;6H(_:#ZF-L"Q/ZL5^^L.>>__?W;4M-VXDV5^IAXFP
M.T*VNV-W(W;&3Y`(=7-7(CDD)8^C'S8@LD1AEP)H`)1;\_5;%]Q95Q"LK)X'
M1[C%RD)FX1QDUBT3[Z(]S[T;?(M%R<G[+1PE=.X]5@IPT@I5=69H0X!*.*.J
MZB(QL^2E5ZF81?;`?+J)'O=100>?%EAEF25V.-G$^AR?9K)./^$&"BFA4PKS
M6L)M<2\^Y6=8%WX.[M!B.;\)P\ET]AGX8VZ!N>X'W70$0*BDO18)=-=1?X'O
MXM<1=?F&]"JN:1>Z>Y/.$*R^).C#S;^6#H0JK-CE2[K?$N;PO#_Z%R$6@\&M
M4!<]F-EWO"U8YMD"![F-/2?(9XLV;?$?%&8!4$*)-PE/Y`/B(WDT!\2-Q3TB
MD^;0M`&IP$^&CVCB]\@PU;EPJZ$!9ISZ%J"@(0R+U+?<VF"ZZ(T]"Z>CUIB[
MF:K.L7^!EN("GL1&/W!L[BOZ`J"XMOA85ICQZ/MO9H3W8#?\I(NL!0;_C)AK
MBW^!#`P%3A4Q8$$CY!,1C$TA#7_REP]R.$DH(;$;@A4S7-Q$^<LB2]_B+=Y>
MOS_D>#M-;N,D2C9QL@LV1?RF6C:RZ,`A7\RUDB$.%XCV@*HNT/4[HIW0*P%U
M-ZCI!R:`&L7.#;7SQR,U+DX^_'*H+'YZ1\^UI9'24E>LLX=KFX*6H^4W'S6N
M:T!'7O)3YQEL>0KN_T8S_298?4&W=_/?5NAV.;^OJJ?-/J/@9CU]G*Z!C^<.
MA_(PSOKJ2_F)F#-\J:@#>*X*M!K"T;H;7WVIG9W,EY:NE)U7Y+9Y[3T5`#5@
MHFQ\_&;@,.^IZLA+1I[C/47,]-5[VIO>\IX/JW""IC-$K[6LUMX[4`,T#Z.M
MKPZTSA(SU(&*.H"GJT"K(31MDB!YZD#M[&0.M#T%36O[O':B"I`:L%$V1GZS
M<)@3577D)2O/<:(B=OKJ1.U-[T]!YXMP&?CO00V@/(RS/GC0IHZ:_.VWVKAE
M7/-@!9E:]0?!^&&DJ/QFCA-GJ]<Q7"->?028A*>8[/&K9PH(==*D#C6X.NJ<
M+O+V+BDE4T*^D=;$4R7/1DGY,AC&(QCP8RGRX0JQ<R*@8->AJ`-\I?%>D4`7
MZFGE?""%?I=91@[XD&V@3?/UEW!9.@%"E'\LPMDJ7'WPDB+*&,S(_E$2)LS2
MHBY)<(]?GW#6>R>R5J[3(IRJ(`5VT92_0%]YV\L`6<1+;Y55IS@PUGB%BV+/
MZ\ZFS^V3N3_0@S>%NO*(DZ0%<DC7>0HDUH['J'5:[ME%^[K,K6P%P50*A'%*
ME92@+E)4BS;%BB^^'J#FY'!SUC#F&+#6]2MR1V(C%G5)K1\,B$ASWO7FBO4*
M44N'T:3@\;)8JQ\\7FX%0S>M,E>Z#`W;RW?`Z104R&A'A#(30<!,DS??I*^'
M#+^0H#1^PURIVS3#\2[A1U<W[^LL2G*ZBY'2)$#L7WOF:X+M_QYYTI09+N;/
MZ^C;`F=QNNTGOI6];5>/=TD[1S8I2P9TGE^QNM0`52J@E@[L^EE+"]2H03/D
MT40LM(PQ5P6=Y)N&F5L"#_5/]8ANJA$M6B,8U;U?YEOZAK.GU.L!6@M'`_03
M[?A[U_GNNWP9/CD3ZN'4*FL6Z4;HV`,'8*ZM_:>=]FWRG09?#KS<X+#U0A(2
M+I;AEW"VFCZ&'FPAC4<)DR^)Y2""?2/H-:(H?^%*JX#2;>B:PYVG*SE9MBS9
M"%2#P%AGBAP"&^Z7^58PHK!%]+WOT8YF^$Q8Y$>3FF[Q:TIO?Y&VZ3-Z)N!)
M,]`;^W((G7#D=#3`,-^;]:G>8;^I:]SWGJ]$?G_I`-"KV*C=;)?!)RE5P>,$
MT2(CP3!=UH0J-[34&284`J[Q+=1""9>JL%FUJ0I:+=K:ADK[/:O(R=)W@N-=
M"9T3U,NMA<#^@I=]R\G$;9&E&XRW^2VQD&EJ?F?*MA>'++%430:[LA>Z2H*J
M?A#MJ*P%./X-JL&QTS@6=P(K7K43;_T,H@9BN,W,(6,&3-<E/A#LO)`OX/R9
MO*S7-&&;WGI0R`1A2"G1QH2'C2A=*N#"?.<?GGEV9K4L(93:<$MRF24`O-*`
M34(EU2!`LF>=!IL_CG&&2X><;H^4VEA9%-=0&(!%:HUT3%JGJ!1'58!8=0!;
MX?8L\X+MEKFHG!+JX%?0:`=#$;<,AL0+?A'-R!RO>%^0D2^"9$M3"1Y>Y1,K
MBPX@>2;5RH)K51^(=<*V+.MN?"&<M9TM)W8H9:_0@1E(J8=5!H*Q3PM2)0/5
M8P3"PJRL:\V<[2+*YAD[<K1]C/9'O,#9ZB7*9(MVAL(NV6>DD7RYH"S?SJ01
M$4?SC)\IVR+6`]U?0JP/F"60\^Q;AK?A<AE.T&H]O_EO0C9BX!L5!*68%0([
M]#(?#'AJ,5WRX%B\I%G\3_EG52T$1J6^)H84XF*HD?.!-J:V].F2<V,BI3$P
MM)&A2TX7X2#X0I/YL<@+$@3$R<[BC;:E@(G24L6.*2U!?ZAB8$V?*ZG:#DB6
M","EHTE_`.!YPER<T2OD+<'XP!YOR(%'62SB&O9*I;M0_Q7]Y>//'S]^:H*I
M7]&GJX\?/]+_3EW&KRA)$^PG/3J8DE.B&1P@&K1VQ,@<BJUJ\+4,]4:LB:1;
MFNC4T6QK5INR=#F`K\9Q:=A=VC/M*A<_Z`K`%A_2/!8O*3IDB"G<>HPQ&@1X
M!M7'A2RXTY<!8TU/$4.^-$?7_.&)G26MM>DKE&!VB[7*%G](,[J6[0]I)`B3
MTT4T%C!$B=^B`B_VT89=P1->+=<T=DH-D092)+'&J&X-=&]['.5AP:Y"21?E
M4AMAX-V<79CF^3$BILZ?^TI*WY>1L%/XFV@D153[E$XE3D\*&&'-!3_&L(X=
M=CZ4%AW\8(\-"+ML,AX1:':U3CDPWV9>J\.V%R"^&:AF1+S.B1T>IKFKW&%#
MP>$&+ZLY#HW9\D[FD83E,SC`91XY$[LR=IH.%C1-ZU>3SY\G^,G$]9V(`!&P
MKX<1VQHAZNBH&#RQ#`WIL&B?1HEOM)%A2<81H=T^$6*)]W1K=1%EQ?L`<IR(
M>T"4ODX#2%-V@5@?'E+(T,1@^T;#IQS]6*0??F%18E9:=B"BP/F[;2%IPC'A
MP$#S;17M60AK>0[.H@<@UFG4,B(>[8-/R"YU%FX,\IUI*:->3OK(_3X69P]:
M&2E-!@R<ES1,GQ_8$>'P&\XV<:XXP*.3@^*@2!DSYK'-V5(4U;(>D&V(28QB
MF+>FTTHV!T,I[\4;4JD0)Z62=#B`""2F]"3.-_LT/V9XC;\5UWO%/22;+MS2
MRE@O.1RE7@PUW:"OM"/$>@);F3_?V"7-4[?^_0HM[H+9&@6S"0K__C!=W(>S
M]16:A6M@WED#M4=!NP$:)4.K]*GR!,@Z$=>Y637ZF#$GNGC\)_H2C*=_E_F`
MR9/=O`TG>5<-N5$G734QW2L7.L.*R:!<Q`<72?080@PBYIG[TQLBG+:Q\QI>
MNKL6J(S<6S4`H[BS)=[LHSR/G^.-U%^<M''ML/H*2!>GN\TNLU\E=4L#M01P
M.0,U!4ZIJ<1K[5.$MD$XD?9*9RO%9FX^#;/IP:&+L5!+"JSVZGV[#[^F8.=;
M.GD(T7J.`K0,[X)U.$&+@,S'V$2L^Y?U,IBM:"E`X)3B`U#;=EJV(S:2#VOV
M%VZB0TPSOM,SFO.G?;SCGD#\%=2+N?=T6IUDJ8]?,*\(FQZ+YWWZ)\L"5)`_
MIK4H^Q,[O8I>,69YD&B#3183)L01^WG#'QK_DTO\&">;_7&+<_24%B]HG]+B
MLB2LRE_2K$!$[+4Z]YI_^-FUNQTZ5-VMQ%(6,6'4DG9\P7\LH]B9Y-(F_K(;
M!`"Z;6.*MCRYV5C`./=&MW8](*DCD31WZK;%.AB11%N<Z8+$.-<`2@AOCGCI
M@--UI@J#H5%O>"[%E[,H`PYG7/;$R2@TL+6$%FWRZ(")[:&2D0^22,/)'!,C
M7H)D.\%O>)\:[IY9"KL/+0TUDX*(R[,%PE8/3J=LBFCP7\`ZW:K-F2:&JS!8
MWGQAL\])^!C>S=E&(*IJG0)&AY:,:\6(-F,"XS-%&JH+9JMEG'I-A2*V3!JE
M>O89;O,,4_BMZ,:439J#[B48@:KK.776PW"CB.($;\,H2^)DEP<'>O(NBY6O
M42'BE!ER/:1HXB*HDD%M(:@5SN%FX,J,2&.&.U;HX=0EA<9XWSBAO`AM(.@)
M/Y0'&]0L`;XM/=@JFA_O2%.P5WFCB7HX>P->BC!%FBEIQJZ&W7\6\6)%%O,=
M!<TLS$30_0S,0"MC6K2E02=>WZ]1NOG6&9:%ZV`Z"R>(S+AFT]GG%?H)!0MZ
M'G,YI;M^@%,M"TJUIEFF0^&#RWQ((OM`LB<$Z"J[FAA3IROFAW^T,Z4.*(]:
M4Z!\I!A:*O\H&`+_.&(56`I%O>&+97#9%?8LO!QB644B?UEC'EM*[0=B$`GN
MB,?3;?7VFKEE1N?9<JSP9N-LZ)Z!=CMMO=B^%8.@A^)3NV`0^X:3HS3'3?VS
M4X3R9TK?-?\9"I!*Y6BUZXPW@85@]ZUVH=>R`!)RFOKJ)\T`(*@I[UTU`R]@
M;JCO+%RC9?@8SAY`ZX_+`"!"Z1FUP:4+1F]T.'D&\<,^-M^U-Y!SOURD5TH!
M7B):I;BGPKYLTW^W-ND6BX8;1EB[7(4\K3E:+>ZF(-=RK0G46ATRM!W"(ZTV
M.(FR.'U(\@/>Q,\QWD[25S+-D'QNY>T=^BBI$K+MA;(]:@F@KUP$R&T-->'*
MV`97+DV+H+9O4YL-0@"\HVYFB=E!_61G?O_(1-(E*?3JR+#%)5$MZH?C.-^P
MZX?5=!:N5F@5?J9'N4"O#ED`K<,80^M'"1!7>$\:[>ZC[/_8!9BJ0L#\@+.(
M_J$\$B.\,&0N[#I4--9,2A`F?X7J'MB1)YX)MNZD.L'E^%[M2,:U;`LN9MNP
M6S]G6T@3EUVAU\[+2YF!:6T@5ACH)+:TYEX=8-J-#XB3I?6&KJ,<;V_25ZJ+
MB*J:QBY=J5`#&;IH8\1:HW9S(&=II3J=DOSTQ%3?M)I79`!UETK(=#RDW&00
MK,>[A%VO3XJJEC`AY.IX..S?:0'YN.!G2^G%4<+-NS39T8NBS4_:N'.\![CD
MU&A:R\#</`#519RI*^//0$U/J'X*JA[3_M6#B/?28W4?_-=\B58/B\7=-%S"
MAL6CTZ7S;1AW)$&^)[1V,-/RCV-<4*T/:4(O>07?8MG>E5K&)>M5BB@.@_+:
M/UP(-5+H*Y6#8N4YMEQ9&>.,?";8ZO!).P:@%+F+$SPE_ZOE1=,0@@SUT[4,
M^$J;(M86&O7C*>T<W2>P$$*Z:R`HCFE&A_SE=I_^J=LJ5HI`8%N@AQ8P+,U(
M_H*8%/B.\EFFI!:F..>!`E9"1L@&`)@;9:&>:+^@=5C)7,^<(W)1&*Y(]3'A
M3"V,*FF?N#/<M'2`:0!<TL)0PBGUP`!S:]64_LIYC&=.+H4L#+OD"IG0JRU=
M1>\>\>L,X]*N<3^860=`,3T:)1S3#`XHR:H]<)/Y>Z<M!(G:"FAQ59^S\&*:
M;J/ZE8GNS@D@0HH0\">F@@)\K3C_WVL$`>FUXC1]:Q++FD%C^&Q=G6-V+3OW
M+[`)!J5]SR!]!R<-G:*U_W35'EXW2KD(9@^8?%^V8;)5X]90ZW`VF<X^H^O@
M+IC="$]DCZ0P05U6C*+R=?AY.IM=6NLBI7D\Q]!W37L2QGFPWPD9_;K?"J&1
M?GPOM!,B/V9!UK,#'V<[9QCA)]K5\Q</)RU]E6BF58LSLL;RH-R0*&5!%=J#
M9\=FS[3R9GY_/Y_Q:Q=^<4@#036E5(,`QK!IGA_Q]I/J359-7/.D?*Z*"HBW
M09\`@:Y6D_Y**TFSY.\\PQ2KKPF.Z]Z+/X%NVRQ@=$Z.69SL%CRJID?N\F!#
M&,67L.4+6:;R,+A6*V4">MX#XET@W@=J=P).BD$VWK18@F)N*BV`$5%19G&4
MY[C(:0D,E+->/WC")C.@2JAF,%C>\7"&_V0_#2)A(^P+`VN-!M./],!_]Y%\
M.O-$S/L>2':"0F.&=4?$.WK9E%D?T)$OM+.I6JZGH%?%V4>S6^85977;OPOB
M&A=U'SB,X]Q,U#[[MRC+HJ204G1P-\YO*]KK*$MZ<J0IP>BDAV.P@NR6,Y96
M-^.KY"280Q%-NGO<L],!])<2TVS.]&?Y0,<US,8;"=,/5M4?U!=K9+,-OE?5
MJX7^5)W+\N8VY,#1\RCN>(SV1SQ\=GTJ#A]CG.AD3U36A;]3:U,+36?6'L8+
M4EP:1`GBX?&-=`.GTCU93^AVQD2:<\W3>;21<0*:^<JH(3-GP1CXQJ41YLV*
M?CSAV$BS9LZW[V'2;&VU[9S95Y:>.TW6#-PE9\G-H\^9)*MZ\62.K%!1@DY.
MO`XXO_/9L?T8&'Z7?)X;VQMM,37V;3IL0&?=;%@W7F"Q!/\V*@LNG+9S'0NT
M'Z[D%&\(7#9AB,K@3EB$@Q,G>V(4"&R/3SG^XTAS(KS13`C:(W'2]BYA+%-"
MAHVZ/>("/AQPL[7AX7H5_OV!E?1]!,\&J4--!^Q*2V%`?SCLV6V.:%_=$0_Y
M'[09"TQ$G5)!KX^4%8UH<^T?5=+PYZ?/,(WFA@IITM3@#DVFJYN[^>IA&:+Y
M+;H)5E_0[=W\-S2=W<Z7]\%Z.I_!<LD<C%U:&0Z/+PR;)B1"?8U,4AX82@/S
M3*"2'=5:'7C)-G,#F4V'*.[,/]]QE-%9R=]\HY<"B3J&R89DE`60=?3-L*:%
MI*7KA0RQ&K(K7=$W/^I4>*VU>@'!3O7@'^$*+8+?@^L[D+HQ!J"NI_H*RR`<
M&%$'YV6-KYMCEA$62#Z<HI8.'9/@\7(DX[RJ"H?*MC#.QE9I#XK#*0#1]ADR
MRX9C.,>;GW?IVR];''/XDO_IHY;\Z7_66423@*[>7Y_2_KB?_NX`H2</E;UB
MW@;Q1FX!.9Z.E\:A]!53](G-&"<FR:(D?\;9.E45A[]-LSN\B_9+7OE>Z+H&
M=>0\HAFBI1PTK"]4I"@[J8/<*4U+U^[WM$>Z44.[=!P17<+J=8I.2_*V^T.D
M0\1Z1,LQK!Y6G^%2;SPG(#L2EKU7=_;*-XN>CPG(88[SZ=P$:X/'#"26RW!$
MHLIWMNJNW)P1M709RYT^7@HTWK+<W(3=HAF@-OC]504F.N&<Q#1P&/,#P28O
MI&P)!6/^>#,8\[8>@-A,:0;BJ_+8N3=@[B)#"N:6B9Z`F1VOS:2'[%02L."N
MU+`!.:J$O$&[QHK.B9,,'\IZ%-[<[C0`E(8+G0$`YX1N(U[2&(H)VK7(7L`"
MOO]NI_TR#%8/R]_A\\FH,2)%N`<+JFUUV`$NDQ?#&T*!FCW=#-"LJ>/IZW"=
MV5?\5_3I/__]ZC_^^M?J?F64T_.@$[QA<2[ZMT]7B+Y,%!5D"IL+EXI!8-]!
MCQ3RS4#X`??*O=R0H;S'Q4MJ_CH%HJ"4.-7'@B1UY(.H..+RWC#'V#19/.07
M2^2@4_-&,@P03"J/^"K7;;IM''*C\V`)4LHVP(LT%II"0ECXMMM8/;4#!)0X
MWKV0[TKPAK-HAWFJ@OGS)-X?R5_Y?&)^+/(B2NBFC.R=6/;B$MAVJLD`5?:"
MRFY0F=-A3L(,WE,U'6[U!<2/40R>3.\>UN$$E$'#H-GAV("Q\(B%)PI>1WF\
ML7OODC[@&2A6S)Y_I[Q#K">OV&=E['6PFMYXR#PU'`UXIQ@%GUE7?BZ:4UVL
M/*'FZ.](G7O(4[7&HQ"X\JFM\XKL(>"'BR\[1N'T\Q?B=%'P&"Z#SR&:/=Q?
MATMZV'_U)5B&H#=EQB7+D(^%P9ARMI3#=$<>1/Y-_D7^YXE,:<D__A]02P,$
M%`````@`08EO0-[%VL[4'0```[0"`!4`'`!G=7)E+3(P,3$Q,C,Q7W!R92YX
M;6Q55`D``ZI:8D^J6F)/=7@+``$$)0X```0Y`0``[5U;<]LXEGZ?JOD/6L_+
M;M78CNTD/4DE,^5KEVN<6&4[W;W[DJ))2.(T!:A!2K'ZUR]`4J(H`2!X!0V=
M>1BG;8`\YR,N'P[.Y=._7J;!8(%HZ!/\^>#DZ,W!`&&7>#X>?S[X]GAX_GAY
M>WOPKW_^]2^?_NOP<'!]]?/YP^`>!SY&@]O#+RBB_LO@-Q<%B#H1&CPY+P23
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MK4/_8Q@_Y8ZX,30:`@ZD+?A_':Z:'?)?,6P/STZ.7D+OX)_\A9\H"=`#&@UB
M&3Y&RQGZ?!#ZTUF`#M+?32@:?3X8SRF*X3XY3?K_[8JX\RD;7JN?#O:N<>1'
MRUL\(G0:2W\PX,__]G";4V,\#T9L:)(Y=5'HL^_EXN,H';3'O,.QUK./ZVKP
MP'I^?V3S`_%WW(]N?,R^F^\$0Q+Z_!67@1.&_LA'7E5%-)_>I2I#AZ+*'Z;$
M*Z()BGS7"9I7CDUQ,D7G080H9D-A@1K09O>9S8CM^H<;;WF<,&0F)/#80GK]
MQYP-Z'/LW3.DZ"69SMB?$`[9NQ-A&M"JW/L:_U"73CBY"<B/\!9[/D5NU(!*
MN\]L1NRO)$+A$UF/ZO4KPPLG],/[T>9NRE!\],>8#7;7P=&YZ[+M+V+;]9`$
MONNSYZ"7Z"(@[N]5%6Y)FK:AND-LHV'2W:$P1.C*#]V`A.PA+>)1_,JVE;[%
M"_:#T&4G^BK?UK:JV3OO1U=HA"A%WB4)H_#2F?F1$_A_LL6?HIGC>ZN%YIQ]
MEJC-"=&`3&W#-J1DAFBT'`9\?C(NPY;B6<QONA@QI=[>-A3I1TEF[2T6M.AT
M]:@G3MM@I4MY.'26SG.`V+=COZ%SY-WYSK,?,-:%PDY@JBI(VP`]H(#]D_/-
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M%K-HF0G*7]7!QN4QWHF\]=\V;D#O1\E%&R>G#E[>XZ`;$W030J7`S3:N,;B'
M0@Y!UABQ-WDK#+E8;5PDQZ(P89A@N?<'_`Z>T/PG3%\?7[2'R#T:D\6QA_QC
M_E7Y/^+/>_CF)+UF_QO[U?=S]FJ/O_XF<,:KQP7.,PH^'^S^_;AU>2[GE'^B
M&_9=G.!_V;9US38M]G4%HDF;EI-R=^#SWWS7^3SGSR&C4/SN,"=<^?[MX[H2
M(T%KB*A/O!OVNU``K+QMUW+RKZHG9=:R.QDWOB1;(-`M6X-4@@J;=R=M\AWE
MTTG<KCOYGMAC%6+%?VY?FGB.<K+`+Q,$XN3_WI$\R\OXK,;V,@^]_!LM97+M
MM.M,/D8V"4X(-C<[A??SB'N:\<.U7%A5I\XD3S:1M26%4PGA<J-LWI6T5V3J
M^%@J7?KGKJ2Y\0-$+]DJ,294/B;SK;J2;3A_#GSW)B#.]NXL;M.57`]H[/--
M'T=?G:ET@=ENUI5TOY!@SJ@*33Z:?!ILM^M*OE]1$/P;DQ_X$3DAP<B[#<,Y
MHE(Y9>W;ES<^B"9"G+_X(B2W6[0OTQ-U^-KZN)P^DT`@4?[O:WDV#T+G-"^;
M0]W5@]@_=TY!>9_?M,7Q+#Z%';H3/U@?H$:43*LPYY4T1+0]#PCU$(W]UMG_
M#@9,D\0)YRY16BII+":W(:"X)>_I$\I$^'QP>C"8ATQ+,N-R.&9PTF6A*UCR
M'"M#Y62O4=DZ^V:PG.XU+)(#0P;/&<`C.J%F`+T%@,2FA@RB=WL-T=9.G,'R
M?J]A$5/D#)V?`)U=4T`&SS_V&AZYY3A#Z,->(U1PAEK#=++?9%EM&,I0VF_R
M+#$89/#L-XD66L@R</:;0NL8C3.L]IM-"\R9&33VL6CA_<L*BQVCFLWV'242
MZA&T@N7-&QN!D9A6\Q-F=5/2W0CY=+SM,=*-'XEF'']EZ_+("9]C7.;AX=AQ
M9HF)&051N/K-MJTY_?5WG="LE&9M6:.K/*&Z_;R^A@_(1?Z"B_@517HJ";L8
MTF$^G<=Q`[+P^SL2AC>$(G^,$TG=)*HL2*:\]Y]Y&'L:,DWN1T_.BUSUQM]D
M!#'/\Y.I/W1\[Q:G$5@RK26MC4@>1Q?+!$W^:$ZN@HF3:V-<2HGOE[JM.:F_
M$NQJP+O1K`^R:H$L:&Y"]LTXS'O&UL?QDE4PJ`LZ]4B/P@%4W,^T-N&%$_#L
M5X\3A*)D[%PLOSC_(33F26Q/T5!-XR%F]`PG4NG9GXS(E!WPX[@;F7S;S4S(
MNDK/P3A%NJH4$3E5C[YH4#AI"SK9XM=6'=5U3AOYZI!K8I=G477<-@YH$M@V
M6QB6D,>&[L32%XLM[M9'70IXE'9WP[JI%^2>V`1VQ=!'OP_GA0UQM(FXNH\)
M+6(#0YI;Z_J%)TA`ZM&CZ&!"_N'*4%E(GT0M#4F\@5T^GYD:>IV>YC6*A2HD
M5.H^9K20Y%B3,QIE%Q,Z;*?Z.9_-F(C4YZ9$B0[*+GW0X1MVRFNQU<F0'FPD
ML*-]:I272YYO9D+6]=W(SO7JEK2"AD;E%=SE%&S!6EV-ZB0*J9,T,B.GY@F@
M)YR_-,OO&:]_<E[0ZF)/S0]$+8U(O)E]3$7)!`U-7)9KW5OP:_.\$7%]97YF
ME^]`:3C4M[L93'8Y`I:&*6\BRV"QRP&P-"Q:YZ$,+;L\`DNCI3JO9R#9Y0I8
M&B3E)46&DEU>@>67;=D4JQ)<0_B]WRO`16ZJRZ])*EN`K8$V59`J>V]L:Q1.
MM5&FM)O9&HY3!:JB2UM;8W*J8+7KR%0O%J>_2WN/O9S-#).R]YN;PT9U'V=K
MR'_#N(GFIZWI`!J&KFY:@/XN4DT`I6IM:ZZ`A@>8Q'>E7DJ!5S7J2ECRM")1
M;`UAK0;=[G6?K5&LU?`I<ONV-8ZU&EK"2Q];XUFK0:1>DJQ?S<N;9R1!"FO,
M3NV\GY'[-DB-H0)R=6*GJ:\,.,K3S8F=YKPR^&RB4<5BU__E1P\-?<*>+3UV
MFF/*N"GECWMY5R#;S59BUZ>]RV91#(=J(MJ;S$+?DVOK=F77,SQ;<>P\LY:#
M:#?P,,/'SC-K.7Q$CFP90JIS:BS??.TIE^`3>[\=8[:<Q8[,5D`DS?&0X63G
M8;4<3$5.[1E:=F4V;0:M<PE6MI[)2DW`-M+29!#;>JRK=_NRB5#;1[U^Y\M*
M*L5-4.2[3&*SR1.8+/<T%MN+-^LAHG'"1(GWN4Y/P^D@DGR/Y_-HPL;(G]+H
M)U6/7F@0I\[5ECYMW0O)Y06:M+K8DAC"KJ0+^:-AR65#L[-YO307CX).?=&C
M>"(6]8+`2@BL['-@9<[:D`Q?B;"BEN!_V8MSA<X%B>[V8[O7916T=C<UVQTL
MJZ,DSA-O6=6E<C!IG19M]Z@L#95JTMEJKZP$T>J<:WN$6$5X)`N2K39&'8R$
MI,_VR"_PBP"_""O](GI@JT^N?,X#)C=F[UL@(Q4MN$/<[73F^)1+=<G6M;'T
M-"MI;,C\NWUY5E"K0=6C9QH4V&]T>IK1*&12/*`%PHK4V)MM3$G)W1W38&[9
M6-]IU@=9"P>&I+D)V5<N`:O36H'LTN9]D/W""7U74_"D;1^DOO*#N3P1HZRU
M+1=A-7!\F06$QA0@G4DR"'<;FI#W9X01=0(>`^A-?1R7&N9\0BU\42\SN>G7
M7C",3UX2-A+PG`W2^QE*8`XOT(C0=-.+0Z^^^#AF>K>8\2@4\APP^:<D?B!?
M4#0A'D_LE7C0R);]+B4PA_":A18LRK+6YB1GB*<#](*-WY&OEGRWM1G)DX&A
MGH_;K4S5ADA&9X+?2B:IR)+FX+Z0`,1H>;842$#,MS$B)3N?)LL;'B>BJ$>J
MO'VOI"]8VXK[&<GRGQ=),6Y$+8W5)1`<245^K`Q5;H3"GM*KE3%2G^^4+K>X
MHBN4_)3!T-7K^X0M_]AJ<0L&?P,/-H;'UL!7:;C=U$QV^1`YU)VP87>%%B@@
M<7I"]0JK[F-&B]AB(UN,UG\V*5O!F-]I5D[6\9RB6(*3T_3]_#??'U'`&HV_
M./1WQ$?:*BWN>NA)[$PE.X-+G#WN8[^RC6D2(>]\P;[R&'V=3Y_9)Q^E!AA=
M)\JR3^F1ICO"J>QKY9[19RW33W/EAVY`0C;_XZE2L&HU]'"3MX$E;CHVKPBW
M#D^V^_I41*D)BFB[CU!%:)5WC/4<A_J?0:3HZBD/5.[B3R_5S"L.O-;!IBPY
MU,M(8SEHFF<FO6PT>X*5Z+9*+U/8G@`D<W'1RS"R)R`5WB'JY1O9$[3$=BB]
MA".OF4:5HP1Y+QN]-"/%`^B)Q%E+>HI1D==+;N46>YG8'B93!Z*U2XOM03(%
M]_3[Z&L-,8Q;8T3[YC-?VV[+&4$O2<\KWM@KPB3SA+`]XTXEN!0N!-WEWS&#
M5W-WM#IFO>9OU6U/:":['<S;&U:WFQ#)+<8,8@#5)Z"]"014XB/T7JI7\:W_
M&X`>-!K;:KWB;[:,H4Y]P.M5QK%E;$I=J_4*X[SBLX'FW)7<1%<J@&/+H-&Z
M5+6]$(X>5'*+5[TR.+;@TY0#S=[4@($L`VHX5,//_NH+S?JC59FHVS<99P!T
M(T#+740SJ-L^._0@<T:L?SXI.);F5#>252-+]2ZTR7U!_'M*/#XU.YOP=)74
MD%"KH^QC1HL5E.$3D8@7#[%G)T0>'U)L/,4?X0&QT1;Z$7I$=.&[*+&I/B"7
MC''\E+3TB`2(EE_;5RQ_=2@;QY$RM7CYYS02O9&]]HEL)$%+7B',[*K=S7!2
M=.6<W&W7BQ3NKS?Y?!7)OY_V0W9CB?-[HT.M+V%-UI.82/%MAV"VL`D%5;>%
MJ'^AN5"(8)VH?\E>]I5$ZTK4PM5?UJI/D<T0-5X?VR'U%^ST,`P<%Q6>-B2-
M&QF1C*&FY8?<&#71>-QI8R:"6%[&3(F>1L<^Z),O8E=*(V%7(]&]+L(.FV/?
M<#A#;ES22KE'R=L;C4W>VCI#P3ZFUP<BPDL522DN)"=30=G7J%:K(:XSAG)M
M(3I?)>=N#4&)K#L-7YF\ADZ@&[:2JSEEFTS"G=+:!6YBZ^*.'BI%M/KW3KNO
MZ$?\ITJJ99U[IU?\Q_OXHB"\?D'4]4.I.:3"@YK)U%+XWM3`*-6@\F-Z]+UB
M4W'U2;;;O6^Z59QB6WW[IE4#$TSQG#;G5_;:.M-+]91&I(\/]R-$GXCJ3'=#
M:&QAX@'J=+'-8FH\R'@9.^6A4-32N,0;^SV5S@55#^,:9(LIY1=^891XJ.JH
M(NMJ-+!394&6E!M:#3O;2\5K8R.<E+;'G&FC4^"`4"_6S"*<=`R:MGMG509+
M;"WMSL.JYW#I.C=E@-D52@=QZ-M^N$66^74^+-$5I?41ESKH%%W=V9X31.MZ
M)!=2(5ZMK)]JC9;SK!"^-$N,79%#(RN1VJT+6R%PR3*01#<,M5*&6H:/@5P-
M59*.+A!])G8L<$H[$*0JT#<TZ:4ML#[`M\K=5KVT!K8,LPIW%ON=YJ#Z562]
M7`4VXZ:\8M++86`K;!5\+NJE-[`<,,'U.>0X<*H%@D'R`UW@ZD4C[DU:!"7.
MTB0N^WA*T`]^U*M+8#5.%5U#K*]24,O$]OU4MTR!THATC;U7/[YVPV3T2A/8
M.NETS-CYX5.!V5LQ?)2NW?7J$=B'CX9/]H9]]61_YYVF=^T&6*=6@Z43/+2/
M"?FUXI%RP,BOPO<&(TC=IH9#TR,@!>@4`-J:=>OT=H",J:Q_/<B0=NF$DYN`
M_`AO&5NFB.U3IG-#<;,4=OT`Y>PP3X1+.J1DX3/=+Y;?0N3=XG4:\7,W\A=^
MY!?6]F[E54;R:4T)C?P_XS%R/[KQL<,TP>,X\;Q,=U47\SK<<=<%+R["IZ7`
M9GLCTDO*!8I%%S<VDA,I,17'\-T_!_XX29;.)@#W/Y'FIBKH94:3<"(5E_VI
MAS*9RN65+O-?V7K'_IFDMD_JS*[7@6QAR_*/%JRFM1]K"HM2.8`4'4S(?Y7R
M$6DR?J$21;W,:,*8CNL[J:?;YO(NU4+>PT@NM-&(<:;[T?6+.W'P&#TP8G6/
M^8!ATO$?_%"R<`*$I;MRJ4=`]CFYK^3/3"3.W[YA-C<#_T_I5E;J$29T7(EQ
MC]F2.2.)`\']B%%21D*E:3N*>IG09*/V"K^GEDB^W<J0I+FE_1:?NRZ9LTF7
MAJ'PY<9UZ9P=!'WGV0_B+4VN4)6']4MO=CI";.&1Y^#1ZMH;G3C8Z1!;EE5J
MIV\_M+J:(WZ(C2/LA@[E8RA9U&0DH-0C^J$CYY28O:W,9-OLTP\MUM:#]!A5
MP*M+/*`G^O'(AFS6ZW^JG8[]T&=($3NJ>RO2O*K`EA8/B`_S^CIJ/:P?>B=^
M*\X8E5TD=SJ:T2<IZZ:D&AM-&LD'LUILEK]2/T)7Y`<_F'#+X@()%BVM+I`?
M>>V))S+%"DP+DJ]=X@']UJ]@OZCPH![IFYF-*GY/T0/ZK5^U[ZEZ4(_T%5R5
ME--3](!^ZU?M>_;M3@GRT6OFHU_;N^.Z46*@!`V-Y'AWEO%MYPVA;/BY"'EQ
MH=M8.OV%M^Q3#&OZ@&9SZD[X5=5HPSFT6#E91Y/Z/)$T(#=&F\'OS3G02'D*
MT>S<"[U6%LIAX&!>DID;O&=3N16CQ`/,5%7()@AW@604#'$S;#YABTPWO<ZF
M]=J8,O'`TJ?D99]B6E.V(J12WH^NT+/.=]OITB<=-FQ]RPKZ['0WK=NC$Z#L
MDD-["2GQ!.,:ELCH6]RO$<8F!4M.WXJZ-%1')ANI$H<5D6PZW<Q49\GDVJ2_
MDH\O;6Y:=LTUIW?KS"NO),.#5BZV8X%EHHL;0^V84K5CUMZT^B5C=KM`I9C2
M4K^&2C%)G-2)5,J-)L9D3-B",L/[;CLCTLYGLR#^JDZPFD'7R2\*YYY.U[[H
M=(M'A$X3=[?R:HEZF]`L3>>A'%?Y-B;C1MJ,1LCE\U!Z\&=)D>U,KF,&Y5R,
M00:QG?EXNH)8Z<:;@6QG[IZV0=;S,<A0MC-S3V>KA22F)\/7SB1`7>$KNCW+
ML+4TM6A7X)9SC5_#_M;2K$-=P5[HK9\AK<I>!$AK$(V"R*<,:3O3(74%M,QT
MF.%K9XK4KO`MXR">86[G0;"IT-1<0K"B$.<UJ._L//JU`6K>BIDA:.>YKGP,
MAWJ"BZ*JK$^JWS2(N6`@O;SZ@%[)H!:]K/L`JR+V22\!/T!8,M36]@3]3:.Z
M&\QE>\;^IA%4!=C:GLV_A3F^&X)M:V9_*/VY-9JJA[KE"_#*'.+T2A>\XBVW
M&0!+^W#;7OV@(5@U0D_TZB/L[0C5]]^UOEQ"\U-=%892J[;"_LSP8H=\VVLQ
M-`_D;FQ-K4H->X_AKI]]K<H.>X.G+H:J@][>[S=EDG5DD%8Y]A%."U[CL-1(
M!"%BE44!P'IUVNT;H!7AU(Z$UROM#KB6B<:L50[^]6Y(=6>^%J+[9?DH"6F9
MW$/U"L._VNVII!.+K$[FV5Z=(\LZ&+?B891AOU='S_(#5CM=589HE8-H_Y>`
MPM#F'<^??&Q@QN#M##@HA<]6?%N&C9TV<RULI)F],G0LK1.LC4YA%HUL$;+S
M4E"['G?U#?&MI<M3'>24S#E#SM+%JPYR2I-8AIRE"YL6<N4JHF1>Q/N\PJDJ
M$F4(53E6O0(BJHW0)A85CCE)G6KV.AK9@DBN=O>[O:]MKI43),/+SALQG6Q$
M4(,:00UJJ$$-)98[1.;.3(EE0[B42$]5M(4)4T!E9PT[G<^K`E@_[C%#ULX+
MRI)9QK9\^O/%_+*%W\YKAUI8;98BRH!JVZW-5$GYV-+[1-))Y@3K=3^\<$(_
MY#X!&Y\/>X_^&#-.Y7++9Q+\Q6;FD`2^R^;E$Q/H(N!>TP:2U=62-Y5G*[==
MK4?:4O*U+Z6I5$5(A`-8DGA1MQ>DT&TYD2N$=74/1,DI`P:'(N-5O5W'>B(&
M!HG7=>SN'PV-X\A"G@$V#!'*3GX-<,U^\:SJNW`Q1.*-N;@?L$9@C<`:@34"
M:VR6-6JLV$`-@1H"-512PW5V=6"%@EU6B8YXSU5V`2X(7!"X('!!X(+-<D'U
M.@TT$&@@T$`E#<SF#<]&D^@=%^-*,U'QLAG#)(5N/F=N1;(HH1$-B"&@&0T\
M%2ZB@48"C00:V:L-#VAD0S2RL;T'F"8P36":2J8I#?RVV``)K*L[%E-J?(DY
M3JE'`+,$9FG=!@?,LF$#9;E5"6@DT$B@D4H:N9DA/UPG)]ELT8J[8_4]L)[`
MXBVSWC/!I@GL&I@G,,]>[8G`/!O/E5-KWP$J"E04J*B2BNH4\.P)":TJJGC?
MK/HT()Y`/(%X`O'LU0X(Q+-AXEEYKP'*"903**>2<FX6:GNB#@[9RL2$:)9F
M`MG:5[)59GB)F4V9)P"=!#IIW>X&=+)A.EEJ30(*"102**220CXY+\`6@2T"
MERK'I>I\=<F4$WQI24M@=,#H^@Q1B6@;V5P`Y@;,#9B;.E8;/4=Q/;$-QXYL
M+IE-(*XMFWC7U>X.5\C`4X&G@LVO5YL:,,2&;7[ZNPG01J"-0!L+[HPCMOHB
M[]JAV,=C]M]L.?(3(SK8__:25TFDTQLI`@'U.@+W`^YGW<X$W*])ZZ#F"@2L
M#U@?L#XEZWN,V$R9D(!A$/*D`]&2MX6;WSUG?L"JVKGY;4I.W4DK4T&W/W!&
MX(Q]AJB<O;#$O`'J"-01J*/:0Y`BA\V:93RK@"<"3P2>V#.>*)FA8GDEC8$!
M`@/L,T3E&*!L1@#=`[H'=$^[!,PEF<X0#F,ITL"K.!7^XX1!?^&$/`YKF9!$
MH]Z&-446;Y1UGPJ^B<"0@2'#_72O=D9@FDW[)M;=>X"2`B4%2JJDI+?8)5-D
M=Z1RG>+4"G3$.[*R"S!%8(K`%($I`E-LNCBU:IT&&@@T$&B@VH<1C?G/!S0C
M-/+QV&(V"$RJ0V:B,:PD=$6C)W!#X(;6[6+`#9OV6-19@X`B`D4$BJBFB/X8
M^R/?=7`T9/TG3L@3SC_.9[-@>4FF4S_BS:Y?W&#NL6EV1_"8:3S-_@1,$IAD
M=1[3W.B3<*#F7@"\%'BI=5LG\-*F>6F#*QK05Z"O0%^5]/628)?]I(D'B1_^
MWI-Z@5IRB;='K:[@*@ED&\@DD,E>;61`)ILN0:VUBP!-!)H(-%%)$V\<G_[B
M!'/4;+KO?G&IZCNM&A[QQJON`XP0&"$P0F"$P`B;980%*S500:""0`4+LGF'
MB"$\.<?>%5J@@,SXK\$S<L\)E32CM^YH$0BIWQG('Y`_ZW8I('_-9O;67HF`
M!0(+!!98P`(77($XV]7C+/"!``(!E!!`C8$BY'X:_8#V`>VS;EL"VM<L[=-9
M?X#Q`>,#QE?@*;CRL`U[XR.HE$B\TQ5T`K_`?>*LP`B!$;Z";0L88>-^@>J=
M`^@@T$&@@THZ&`^2+T[$U>"5T@GF6000:V6A9V!?V%0S^[_>IQ/3`KV^P!&!
M(P)'!([8+XC*<43-51*H(E!%H(KJ%#GSYQ#],6?_O%Z@9BJW`#T$(K4'1*I+
M.:635"*RM#W00*"!?8:H9#X:^;P`Z@?4#ZA?47H9#^$0>>N_W>(1H=-8E/O1
M,`:=%S%R\/(>!\O>W"S7%UMV_5S_R7!'#;09:#/8'WNU2P+Q;#YW3?T]""@J
M4-3^4]1/QUS.9R=$[#_^'U!+`P04````"`!!B6]`9)?$7"(+``"@6@``$0`<
M`&=U<F4M,C`Q,3$R,S$N>'-D550)``.J6F)/JEIB3W5X"P`!!"4.```$.0$`
M`.U<7W.C.!)_WZK]#CJ_W&[5$,=QDMFDDMDB-LEPA\$+.#MS+ULRR`X[6'@E
MR,3WZ:\E<(*-0\!D:C-UO-B`NEMJ_5IJJ?7GXM>'18CN">-!1"\[O8/##B+4
MB_R`SB\[$T=1G8&N=W[]\.,/%_]0%*0-;U0;630,*$&Z,B(Q"Q[0)X^$A.&8
M(!<_1#1:K)#CW9$%?H>FF!,?111]NK(-='300^@NCI?GW>[7KU\/B#_'3(FD
MN`,O6G21HJRSNDT+=8Y.#WK]@U]R*7:44/\<>:>]X_Y)WU..3@^Q<CP[FRIX
M=G2J]-^3XY-#<GK\_FR:XQHP@F,0B'PHZ#DZ.NP=*8=]I7?D]D[.CWOG_=/_
MY*FCY8H%\[L8_>3]#,2')PIP]#8JX!W2J7>`U#!$MB#ER":<L'OB'V22N*P%
M!'5,^64GI_C7_D'$YEV0V^M^&AEI;75^_`&EM.</4Q8&&QSBRYJGWPTHCS'U
M2(X%2O2EA$,D"S#RF118LF+USL[.NC(U1YUP98[Q\I%^AOE44F<)75$_RF%/
MZ?<VN>+5DO"=;#)E-]\\862C:/,DG#'"HX1YA`=0[QZ5G+VC#3X:49HL=M>#
M'[.NR+(+1`I0$19X>=:7^0H\@L:/']GR57[231-SU!X8;LQ6F^2<>`?SZ+Z;
M)>ZN#I\$N[D@83='0.\)CW<SI6G;?#%F<Q*;>$'X$GLU:Q\Z@`6A\77$%D,R
MPTD(6?^5X#"8!<3O(!Q#1S%-8K)!D-`GD@]"R@6F-(IE,Y7OXLMR&=!9E+W"
M!V&6YRP*B0N0(/$PL?47"QMG'5-7,'2'D9>(XJ[_,?4U&@?Q2H>LV$(6H(,"
M_[)3B?*Q<.OB^606T$"JT3OL(06MV?./(`JELE!.V$5W6\*V\`1Z5(M^D,\>
M#KTDE(P&O&?,&449XQ(J2*A3G_.I9,_S95_7*+TN>`Z46AJ;-;L.*/2"`0['
M$9=%&H28\\SF!'PV,/Q1D:$<Q3Y`]R@(G@>6Z5B&/E1=;8BN5$,U!QIR/FJ:
MZ[00O@Z$8\R`Y([$`=11;3PE]PN@'E<'%?VT49R?6Y!K@`SCI&A!U#`FC((J
M]V0WFD6R<OA.RN!S7/@;:29`9UTCW1Q8(PVIYA"H1F-;^ZB9CGZK90DMFC70
M=.Z@)=Q%H0\C=.VO!!R82GT+6@8;1`M0\8Y0#N"E:.:0]@)E;RGEAG!:W1`<
MUQK\^Z-E##7;^2?2?IOH[N<6_1KH#S"_NPZCKURG?L"(%^]NRT6R<@C?5X=P
MH#H?T;5A_=YZVA>!,Z.8<#=Z])./5<RO,`^X-1OG=(,&Z`1S"N[3PS16/3DE
M">A\'(6!%X`<\A!?A9'W)0?Y-\J@W%A^$>/H@'MAQ&&>""^FZDYL31C'U<31
M3<UQ9%?O3$8CU?XLV[U^8^K7^D`U7:0.!M;$='7S!HW!Q@:ZUEI2`TLR".8$
MD#8(YX0\X5+/7%Z64FX39]LVH3J.&+>I`^CC'=W5H4-I4=X?99W>PU_$5OL"
M7"J@%-O>X3:VNGD+WL"RVY;;"-.G.K5F0S(CC!%_$/&8#_`RB'$8_!?F48PL
M<>"O!V<JM,ZXIB=XA6S*[:.W;1\PP!^K^A`9P@L8FNJT(_P&9C)FT9*P>#4.
MA=>FOABN+V54;,^NH);`<NB/BM!;8\UV/[]#8T,Z>[``,<P?B_'C.V1J;FL*
M^YM"UF)39ZW3'11-QP'-<B@WEGXM8T$3$V:),-T8ZZYJI-V(TUI00PO*1OU\
MC%=X&A)H_?"%)<0W`CP-0B@TX?O:SKZRRZWFN#"R3.</#AJKG]4K(PTKP4=[
M`G-5[=-8,UM_T\1$;`)5(2.X\<IEF'+LB7+N;19UY)6;PLFV*0PG&G(MI");
M,V2H8JQ"=R(-8O.+:ZNFHP[::4A#VW#QP[YF\`QK.>*GVXB[ZB?ML>6W2#:8
M?)"I&/MM^/NGFJX[Q:@JK!SM]]MH;SA_9%T9^HW:MN'&_7N,`TI\#3,:T#F\
M\Y@%:9]<MV>O(JD<\T(PT=9<53>%*U=M4S=O'.'RQV*H:.NB1V^AWQ]Z)P9`
M-E9]!.V^/7IU:>4F4(@=#JS1R#+3Q:(6[@;>FD%/G+"5!*JFM][-6@KD42%0
MZ-K0<4_LSRV4KQDK%"NT!(;1HJ#9X%K&\^2:[I78\@DSL!3%O0.%^^11;AR%
M**&T">4*/'NZ*P#F;=*YMV;29)E`K-<W&*67"B@'N!`+S'9]R"%["VH#KTWF
MXM\FRXB)]=J]_74%.>40%R)XC^N]CG8C=PBT.#?`^6EQ?@S\=]#+BB7[9+D,
M5]`?+X)8D&D/7IB($P)&1.<Q88NGI)KF\'K9E5M-(8(W4O]EV<B9C,>&KMFM
MS319$8BH!_\L==0!_[)WX+^*H'*<"^&YP01\_$@$\2US`+V#W?KWAG!?XX#=
MXC`A>X=JRB64`UR(QEVKNHUN56,B-_]<ZZ9J#G35`,_ON/:D=0B-(S6<8.B9
MH5L>DGL21HV6?:M+*[>"0I3.UAQ-M0<?9=Q]J-UJAI6NX&6+,:T--+(!<3Z0
MR'FXLPR#!O!7$%2._(Y8W2WX;RV=RB$'W'F[.-O(F:^'5GLOMKT@HAS?8B`N
MB[^+@)SNRC8MVKA8M5?E!LXT,/^4W#;U1CLYYS@<X1A&V5RLID1R=RZA]3?_
M5I-4:@S]0C#/T&[`%,:V-="TH0C,MU@WF.LE4T[^2L0$Z[Y^I.YY[G),BS&X
MR96C_3:1SOJV;;^-YV(^H5"4Q[3<R5)KEIY@$X%53%<6#??>ROL:^93;27%;
MGVH+&[%,X_/&,/_:LD?_+Y,Z\2/.\-MDAN3Q_'-Q+/VRPX/%,B2=[!N,L`5_
M^<'^[C+=@@G=<7<M=BV@P+UYDX"TP:WZRTJUEG#'R.RR(\[P*^M3XG\`Q\'#
M(ER3Q$$L<AD\R4%"$'^'<!AVNF]7\TT8*R@.##L4'SZ*^4[T#O&4A!55!MH=
M*AM"PG>B[78SKZ`TL.Q0.G_\:9?N%]W\#0?PMGD#P@6H'K$8T9W7,CQS*0A*
M[QTQ(D\**F$1;\J:3Q&?E-Z1TN\=/'`_*V*=$CS5=+T2K/GJEF#G?1M5\UXS
MB$Q/*F57>G?)<]G*+'=>EM(E8<P?92E/LNK7?N&*DDJ5L,TE:N),5'_OM$D1
M<K>KU"Q&1,W]2E)V&4T#8,27NKB\=*E+:7%V\:U?&A5DZYZ82H58\XB'1ID7
M[YNIE'^.+7M^IA39Y3.R&)<=U?\SX>GR4"2"$1&5$2>=\X3X<O<`3P>YHOO^
MHQ)UZH;DI4SG7'[3820L1F@=A*<\9MB++SLS'$HG(\G`^021[TI&/V'9E3(T
M"$.Q,_VR$[-$=),PC0)'D8C4&Q8ERW4N`<C?K=YKG=F2VK^&L+1RTHN7SN/U
M][^Q@BI<V:-F9<I712VV#8N(64#GNQ1.=?C&^CZ>J_R=`=$P^BJ.6=O$B^XA
MQPU;?Y$RKQ6T!!)CMMH3R#1MBD,QLH`$,@WB5U%7SDJS`QXCLI@2EM-P5^*&
M??K1`@?T[S/.DK,K19.L0OR&#/'94WT%F%ZD?%.800O);A7R<C>#246*2=^N
M"7G0-[]2&[*A1U]E9^GR6^:M:1C,9>Y\0\D*U-^)WK66,S/M*_.\-4]88Y]]
MIFHE^K>G9M4%RDS+*N1O34F'A#!+GH\P^T+$4LIZ.&8MQ<VK\$%[$-ME-_Q]
M#9[OP?/G!N;#1'BZL<P_':3+Q-\Q8^!1N/9`F!?P]2V`:67LP_V6!O[/*""W
MTNRK?2GS=]&EE^TTEIH_1_#6&K@\F`HS,#?:[H;5I0AFLD!L@;^.F%Q:S6X:
MSNNY'_\;;/@7W30Z`(__`U!+`0(>`Q0````(`$&);T#'_'@9<<H``/-^!P`1
M`!@```````$```"D@0````!G=7)E+3(P,3$Q,C,Q+GAM;%54!0`#JEIB3W5X
M"P`!!"4.```$.0$``%!+`0(>`Q0````(`$&);T`OA$;4]PX``)O+```5`!@`
M``````$```"D@;S*``!G=7)E+3(P,3$Q,C,Q7V-A;"YX;6Q55`4``ZI:8D]U
M>`L``00E#@``!#D!``!02P$"'@,4````"`!!B6]`.9G^<E<<``!E/0(`%0`8
M```````!````I($"V@``9W5R92TR,#$Q,3(S,5]D968N>&UL550%``.J6F)/
M=7@+``$$)0X```0Y`0``4$L!`AX#%`````@`08EO0+]-S"W<,```4YL"`!4`
M&````````0```*2!J/8``&=U<F4M,C`Q,3$R,S%?;&%B+GAM;%54!0`#JEIB
M3W5X"P`!!"4.```$.0$``%!+`0(>`Q0````(`$&);T#>Q=K.U!T```.T`@`5
M`!@```````$```"D@=,G`0!G=7)E+3(P,3$Q,C,Q7W!R92YX;6Q55`4``ZI:
M8D]U>`L``00E#@``!#D!``!02P$"'@,4````"`!!B6]`9)?$7"(+``"@6@``
M$0`8```````!````I('V10$`9W5R92TR,#$Q,3(S,2YX<V155`4``ZI:8D]U
D>`L``00E#@``!#D!``!02P4&``````8`!@`:`@``8U$!````
`
end

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>32
<FILENAME>R22.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>BUSINESS SEGMENTS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingDisclosureTextBlock', window );">BUSINESS SEGMENTS</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 16 &#x2013; BUSINESS SEGMENTS</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company has three reportable segments:&#xA0;&#xA0;bromine,
crude salt and chemical products.&#xA0;&#xA0;The reportable
segments are consistent with how management views the markets
served by the Company and the financial information that is
reviewed by its chief operating decision maker. The Company manages
its sensors and controls businesses as components of an enterprise
for which separate information is available and is evaluated
regularly by the chief operating decision maker in deciding how to
allocate resources and assess performance.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
An operating segment&#x2019;s performance is primarily evaluated
based on segment operating income, which excludes share-based
compensation expense, certain corporate costs and other income not
associated with the operations of the segment. These corporate
costs (income) are separately stated below and also include costs
that are related to functional areas such as accounting, treasury,
information technology, legal, human resources, and internal audit.
The Company believes that segment operating income, as defined
above, is an appropriate measure for evaluating the operating
performance of its segments.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-WEIGHT: bold">Year Ended</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Crude</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Chemical</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Segment</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">
December 31, 2011</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Bromine *</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Salt *</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Products</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Total</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Corporate</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Total</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 28%">Net revenue (external
customers)</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">107,849,304</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">15,918,655</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">41,212,494</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">164,980,453</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">164,980,453</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Net revenue (intersegment)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,979,826</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,979,826</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,979,826</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Income (loss) from operations before
taxes</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">37,023,963</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">7,688,190</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">10,237,586</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">54,949,739</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(10,651,281</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">44,298,458</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Income taxes</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">9,373,961</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,466,421</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,562,489</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">13,402,871</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">13,402,871</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Income (loss) from operations after
taxes</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">27,650,002</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">6,221,769</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">7,675,097</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">41,546,868</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(10,651,281</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">30,895,587</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Total assets</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">160,421,921</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">51,109,956</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">46,010,276</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">257,542,153</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">785,546</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">258,327,699</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Depreciation and amortization</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">11,584,237</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">3,496,310</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,616,892</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">17,697,439</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">17,697,439</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Capital expenditures</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">34,792,502</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">20,331,308</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,197,331</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">56,321,141</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">56,321,141</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Write-off / Impairment</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">3,749,435</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,015,533</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,805,598</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">7,570,566</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">7,570,566</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-WEIGHT: bold">Year Ended</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Crude</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Chemical</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Segment</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">
December 31, 2010</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Bromine *</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Salt *</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Products</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Total</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Corporate</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Total</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 28%">Net revenue (external
customers)</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">99,211,812</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">14,971,774</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">44,151,437</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">158,335,023</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">158,335,023</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Net revenue (intersegment)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">3,972,997</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">3,972,997</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">3,972,997</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Income (loss) from operations before
taxes</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">48,474,611</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">11,360,476</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">12,218,613</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">72,053,700</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(2,957,467</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">69,096,233</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Income taxes</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">12,943,451</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,040,287</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">3,071,111</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">18,054,849</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">18,054,849</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Income (loss) from operations after
taxes</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">35,531,160</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">9,320,189</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">9,147,502</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">53,998,851</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(2,957,467</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">51,051,384</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Total assets</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">128,513,686</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">39,696,781</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">38,153,844</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">206,364,311</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">356,713</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">206,721,024</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Depreciation and amortization</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">7,570,660</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,286,253</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,240,236</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">11,097,149</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">11,097,149</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Capital expenditures</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">19,458,955</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">13,712,849</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">7,483,230</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">40,655,034</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">40,655,034</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<font style="FONT: 10pt Times New Roman, Times, Serif">&#xA0;</font><font style="COLOR: black">&#xA0;</font></p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-WEIGHT: bold">Year Ended</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Crude</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Chemical</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Segment</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold">
December 31, 2009</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Bromine *</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Salt *</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Products</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Total</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Corporate</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Total</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 28%">Net revenue (external
customers)</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">63,679,888</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">10,650,698</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">35,946,322</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">110,276,908</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%">110,276,908</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Net revenue (intersegment)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,073,502</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,073,502</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,073,502</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Income (loss) from operations before
taxes</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">25,098,035</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">7,328,045</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">12,530,417</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">44,956,497</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(3,244,411</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">41,712,086</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Income taxes</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">6,898,130</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,153,738</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">3,132,530</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">11,184,398</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">11,184,398</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Income (loss) from operations after
taxes</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">18,199,905</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">6,174,307</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">9,397,887</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">33,772,099</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(3,244,411</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">30,527,688</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Total assets</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">96,216,832</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">19,404,626</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">28,274,118</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">143,895,576</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,527,592</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">146,423,168</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Depreciation and amortization</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">5,182,245</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">866,750</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,150,663</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">7,199,658</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">7,199,658</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Capital expenditures</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">30,898,856</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">5,167,949</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">8,838,440</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">44,905,245</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">44,905,245</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
* Certain common production overheads, operating and administrative
expenses and asset items (mainly cash and certain office equipment)
of bromine and crude salt segments in SCHC were split by reference
to the average selling price and production volume of respective
segment.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10" nowrap="nowrap">Years ended December 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="BORDER-BOTTOM: black 1pt solid">Reconciliations</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2009</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 61%">Total segment operating
income</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">54,949,739</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">72,053,700</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">44,956,497</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Corporate
costs</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(10,651,281</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(2,957,467</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(3,244,411</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Income from operations</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">44,298,458</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">69,096,233</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">41,712,086</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Other income</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
57,173</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
241,936</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
63,727</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Income before
taxes</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
44,355,631</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
69,338,169</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
41,775,813</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The following table shows the major customer(s) (10% or more) for
the year ended December&#xA0;31, 2011.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Chemical</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Total</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Percentage of</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Bromine</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Crude
Salt</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Products</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Revenue</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Total</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold">
Number</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Customer</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">(000&#x2019;s)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">(000&#x2019;s)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">(000&#x2019;s)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">(000&#x2019;s)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Revenue&#xA0;(%)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1pt; VERTICAL-ALIGN: top">
1</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt" colspan="2">
Shandong Morui Chemical Company Limited</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
13,864</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
3,020</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
2,663</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
19,547</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
11.9</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">%</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; WIDTH: 9%; FONT-WEIGHT: bold">
TOTAL</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 23%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">13,864</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">3,020</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">2,663</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">19,547</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">11.9</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">%</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The following table shows the major customer(s) (10% or more) for
the year ended December 31, 2010.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Chemical</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Total</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Percentage of</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Bromine</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Crude
Salt</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Products</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Revenue</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Total</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold">
Number</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Customer</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">(000&#x2019;s)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">(000&#x2019;s)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">(000&#x2019;s)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">(000&#x2019;s)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Revenue&#xA0;(%)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1pt; VERTICAL-ALIGN: top; TEXT-DECORATION: none">
1</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt" colspan="2">
Shouguang City Rongyuan Chemical Company Limited</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
13,106</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
3,634</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
16,740</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
10.6</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">%</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; WIDTH: 9%; FONT-WEIGHT: bold">
TOTAL</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 23%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">13,106</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">3,634</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">16,740</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">10.6</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">%</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The following table shows the major customer(s) (10% or more) for
the year ended December&#xA0;31, 2009.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Chemical</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Total</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Percentage of</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Bromine</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Crude
Salt</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Products</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Revenue</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Total</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold">
Number</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Customer</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">(000&#x2019;s)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">(000&#x2019;s)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">(000&#x2019;s)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">(000&#x2019;s)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">Revenue&#xA0;(%)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; VERTICAL-ALIGN: top">1</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left" colspan="2">Shandong Morui Chemical
Company Limited</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">9,533</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">1,940</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">11,473</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">10.4</td>
<td style="TEXT-ALIGN: left">%</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1pt; VERTICAL-ALIGN: top; TEXT-DECORATION: none">
2</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt" colspan="2">
Shouguang City Rongyuan Chemical Company Limited</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
9,448</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
1,991</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
11,439</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
10.4</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">%</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center; WIDTH: 9%; FONT-WEIGHT: bold">
TOTAL</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 23%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">18,981</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">3,931</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">22,912</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">20.8</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">%</td>
</tr>
</table>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8595-108599<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8538-108599<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 33<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8971-108599<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 34<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8981-108599<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 29<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8864-108599<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8380-108599<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 35<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8984-108599<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 41<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e9038-108599<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 32<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8933-108599<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 131<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 30<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8906-108599<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8844-108599<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 40<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e9031-108599<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 42<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e9054-108599<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 31<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8924-108599<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SegmentReportingDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>33
<FILENAME>R24.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CUSTOMER CONCENTRATION<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskDisclosureTextBlock', window );">CUSTOMER CONCENTRATION</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 18 &#x2013; CUSTOMER CONCENTRATION</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company sells a substantial portion of its products to a
limited number of customers. During the year ended December 31,
2011, the Company sold 42.2% of its products to its top five
customers.&#xA0;&#xA0;At December 31, 2011, amount due from these
customers was $9,933,995.&#xA0;During the year ended December 31,
2010, the Company sold 41.7% of its products to its top five
customers. At December 31, 2010, amount due from these customers
were $10,226,812. During the year ended December 31, 2009, the
Company sold 40.1% of its products to its top five customers. At
December 31, 2009, amount due from these customers were $5,449,638.
This concentration makes the Company vulnerable to a near-term
severe impact, should the relationships be terminated.</p>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6404-108592<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 94-6<br><br> -Paragraph 21, 22, 24<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13537-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15A<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6442-108592<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13531-108611<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6327-108592<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 18<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6351-108592<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ConcentrationRiskDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>34
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/**
 * Rivet Software Inc.
 *
 * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved.
 * Version 2.1.0.1
 *
 */

var moreDialog = null;
var Show = {
    Default:'raw',

    more:function( obj ){
        var bClosed = false;
        if( moreDialog != null )
        {
			try
			{
				bClosed = moreDialog.closed;
			}
			catch(e)
			{
				//Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control
				// that somtimes causes it to throw when checking the closed property on a child window that has been
				//closed.  So if the exception occurs we assume the window is closed and move on from there.
				bClosed = true;
			}

			if( !bClosed ){
				moreDialog.close();
			}
        }

        obj = obj.parentNode.getElementsByTagName( 'pre' )[0];
		var hasHtmlTag = false;
		var objHtml = '';
		var raw = '';

		//Check for raw HTML
		var nodes = obj.getElementsByTagName( '*' );
		if( nodes.length ){
			objHtml = obj.innerHTML;
		}else{
			if( obj.innerText ){
				raw = obj.innerText;
			}else{
				raw = obj.textContent;
			}

			var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g );
			if( matches && matches.length ){
				objHtml = raw;

				//If there is an html node it will be 1st or 2nd,
				//   but we can check a little further.
				var n = Math.min( 5, matches.length );
				for( var i = 0; i < n; i++ ){
					var el = matches[ i ].toString().toLowerCase();
					if( el.indexOf( '<html' ) >= 0 ){
						hasHtmlTag = true;
						break;
					}
				}
			}
		}

        if( objHtml.length ){
			var html = '';

			if( hasHtmlTag ){
				html = objHtml;
			}else{
				html = '<html>'+
					"\n"+'<head>'+
					"\n"+'    <title>Report Preview Details</title>'+
					"\n"+'    <style type="text/css">'+
					"\n"+'    body {'+
					"\n"+'    }'+
					"\n"+'    table {'+
					"\n"+'    }'+
					"\n"+'    </style>'+
					"\n"+'</head>'+
					"\n"+'<body>'+
						objHtml +
					"\n"+'</body>'+
					"\n"+'</html>';
			}

			moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes");
			moreDialog.document.write( html );
			moreDialog.document.close();

			if( !hasHtmlTag ){
				moreDialog.document.body.style.margin = '0.5em';
			}
        }
        else
        {
			//default view logic
			var lines = raw.split( "\n" );
			var longest = 0;

			if( lines.length > 0 ){
				for( var p = 0; p < lines.length; p++ ){
					longest = Math.max( longest, lines[p].length );
				}
			}

			//Decide on the default view
			this.Default = longest < 120 ? 'raw' : 'formatted';

			//Build formatted view
			var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ;
			var formatted = '';

			if( text.length > 0 ){
				if( text.length == 1 ){
					text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ;
					formatted = "<p>"+ text.join( "<br /><br />\n" ) +"</p>";
				}else{
					for( var p = 0; p < text.length; p++ ){
						formatted += "<p>" + text[p] + "</p>\n";
					}
				}
			}else{
				formatted = '<p>' + raw + '</p>';
			}

			html = '<html>'+
				"\n"+'<head>'+
				"\n"+'    <title>Report Preview Details</title>'+
				"\n"+'    <style type="text/css">'+
				"\n"+'    body {'+
				"\n"+'       background-color: #f0f9ee;'+
				"\n"+'       font-family: Arial, san-serif; font-size: 0.8em;'+
				"\n"+'    }'+
				"\n"+'    table {'+
				"\n"+'       font-size: 1em;'+
				"\n"+'    }'+
				"\n"+'    </style>'+
				"\n"+'</head>'+
				"\n"+'<body>'+
				"\n"+'    <table border="0" width="100%">'+
				"\n"+'    <tr>'+
				"\n"+'        <td>'+
				"\n"+'            formatted: <a href="javascript:void(0);" onclick="opener.Show.toggle( window, this );">'+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +'</a>'+
				"\n"+'        </td>'+
				"\n"+'    </tr>'+
				"\n"+'    <tr>'+
				"\n"+'        <td>'+
				"\n"+'            <div id="formatted" style="display: none;">'+formatted+'</div>'+
				"\n"+'        </td>'+
				"\n"+'    </tr>'+
				"\n"+'    <tr>'+
				"\n"+'        <td>'+
				"\n"+'            <pre id="raw" style="display: none; font-size: 1.2em;">'+raw+'</pre>'+
				"\n"+'        </td>'+
				"\n"+'    </tr>'+
				"\n"+'    </table>'+
				"\n"+'</body>'+
				"\n"+'</html>';

			moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes");
			moreDialog.document.write(html);
			moreDialog.document.close();

			this.toggle( moreDialog );
        }

		moreDialog.document.title = 'Report Preview Details';
    },

    toggle:function( win, domLink ){
        var domId = this.Default;

        var doc = win.document;
        var domEl = doc.getElementById( domId );
        domEl.style.display = 'block';

        this.Default = domId == 'raw' ? 'formatted' : 'raw';

        if( domLink ){
            domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed';
        }

        var domElOpposite = doc.getElementById( this.Default );
        domElOpposite.style.display = 'none';
    },

	LastAR : null,
	showAR : function ( link, id, win ){
		if( Show.LastAR ){
			Show.hideAR();
		}

		var ref = link;
		do {
			ref = ref.nextSibling;
		} while (ref && ref.nodeName != 'TABLE');

		if (!ref || ref.nodeName != 'TABLE') {
			var tmp = win ?
				win.document.getElementById(id) :
				document.getElementById(id);

			if( tmp ){
				ref = tmp.cloneNode(true);
				ref.id = '';
				link.parentNode.appendChild(ref);
			}
		}

		if( ref ){
			ref.style.display = 'block';
			Show.LastAR = ref;
		}
	},

	toggleNext : function( link ){
		var ref = link;

		do{
			ref = ref.nextSibling;
		}while( ref.nodeName != 'DIV' );

		if( ref.style &&
			ref.style.display &&
			ref.style.display == 'none' ){
			ref.style.display = 'block';

			if( link.textContent ){
				link.textContent = link.textContent.replace( '+', '-' );
			}else{
				link.innerText = link.innerText.replace( '+', '-' );
			}
		}else{
			ref.style.display = 'none';

			if( link.textContent ){
				link.textContent = link.textContent.replace( '-', '+' );
			}else{
				link.innerText = link.innerText.replace( '-', '+' );
			}
		}
	},

	hideAR : function(){
		Show.LastAR.style.display = 'none';
	}
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>35
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock', window );">NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</a></td>
        <td class="text"><div>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">NOTE 1
&#x2013; NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Basis
of Presentation</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The accompanying audited consolidated financial statements have
been prepared by Gulf Resources, Inc. a Delaware corporation and
its subsidiaries (collectively, the &#x201C;Company&#x201D;).</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Upper Class Group Limited was incorporated with limited liability
in the British Virgin Islands on July 28, 2006 and was inactive
until October 9, 2006 when Upper Class Group Limited acquired all
the issued and outstanding stock of Shouguang City Haoyuan Chemical
Company Limited (&#x201C;SCHC&#x201D;).&#xA0;&#xA0;SCHC is an
operating company incorporated in Shouguang City, Shangdong
Province, the People&#x2019;s Republic of China (the
&#x201C;PRC&#x201D;) on May 18, 2005.&#xA0;&#xA0;SCHC is engaged in
manufacturing and trading bromine and crude salt in
China.&#xA0;&#xA0;Since the ownership of Upper Class Group Limited
and SCHC were the same, the merger was accounted for as a
transaction between entities under common control, whereby Upper
Class Group Limited recognized the assets and liabilities
transferred at their carrying amounts.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
On December 12, 2006, Gulf Resources, Inc. (formerly Diversifax,
Inc.), a public &#x201C;shell&#x201D; company, acquired Upper Class
Group Limited and its wholly-owned subsidiary, SCHC (together
&#x201C;Upper Class&#x201D;).&#xA0;&#xA0;Under the terms of the
agreement, all stockholders of Upper Class received a total amount
of 13,250,000 (restated for the 2-for-1 stock split in 2007 and the
1-for-4 stock split in 2009) shares of voting common stock of Gulf
Resources, Inc. in exchange for all shares of Upper Class&#x2019;
common stock held by all stockholders.&#xA0;&#xA0;Under accounting
principles generally accepted in the United States, the share
exchange is considered to be a capital transaction in substance,
rather than a business combination.&#xA0;&#xA0;That is, the share
exchange is equivalent to the issuance of stock by Upper Class for
the net monetary assets of Gulf Resources, Inc., accompanied by a
recapitalization, and is accounted for as a change in capital
structure. Accordingly, the accounting for the share exchange will
be identical to that resulting from a reverse acquisition, except
no goodwill will be recorded.&#xA0;&#xA0;Under reverse takeover
accounting, the post reverse acquisition comparative historical
financial statements of the legal acquirer, Gulf Resources, Inc.,
are those of the legal acquiree, Upper Class, which is considered
to be the accounting acquirer.&#xA0;&#xA0;Share and per share
amounts stated have been retroactively adjusted to reflect the
merger.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
On February 5, 2007, SCHC acquired Shouguang Yuxin Chemical
Industry Co., Limited (&#x201C;SYCI&#x201D;), a company incorporated
in PRC on October 30, 2000.&#xA0;&#xA0;SYCI manufactures chemical
products utilized in oil and gas field explorations and as
papermaking chemical agents. Under the terms of the merger
agreement, all stockholders of SYCI received a total amount of
8,094,059 (restated for the 2-for-1 stock split in 2007 and the
1-for-4 stock split in 2009) shares of voting common stock of Gulf
Resources, Inc. in exchange for all shares of SYCI&#x2019;s common
stock held by all stockholders.&#xA0;&#xA0;&#xA0;Also, upon the
completion of the merger, Gulf Resources, Inc. paid a $2,550,000
dividend to the original stockholders of SYCI.&#xA0;&#xA0;Since the
ownership of Gulf Resources, Inc. and SYCI are substantially the
same, the merger was accounted for as a transaction between
entities under common control, whereby Gulf Resources, Inc.
recognized the assets and liabilities of the Company transferred at
their carrying amounts.&#xA0;&#xA0;Share and per share amounts
stated have been retroactively adjusted to reflect the merger.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
On November 11, 2007, Upper Class formed Hong Kong Jiaxing
Industrial Limited (formerly known as Jiaxing Technology Limited)
(&#x201C;HKJI&#x201D;), a wholly-owned subsidiary of Upper Class, in
Hong Kong. Upper Class transferred its equity interest in SCHC to
HKJI.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The adoption of the Financial Accounting Standards Board
(&#x201C;FASB&#x201D;) Accounting Standards Codification
(&#x201C;ASC&#x201D; or &#x201C;Codification&#x201D;) did not result in
significant effect in the accounting policies adopted by the
Company.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
All relevant share data have been adjusted retrospectively to
reflect a 1-for-4 stock split effective on October 12, 2009.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Nature
of the Business</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company manufactures and trades bromine and crude salt through
SCHC, and manufactures chemical products for use in the oil
industry and paper manufacturing industry through SYCI.&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
</p>
<p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Basis
of Consolidation</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The consolidated financial statements include the accounts of Gulf
Resources, Inc. and its wholly-owned subsidiaries, Upper Class, a
company incorporated in the British Virgin Islands, which owns 100%
of HKJI, a company incorporated in Hong Kong, which owns 100% of
SCHC and SYCI, which is 100% owned by SCHC.&#xA0;&#xA0;All material
intercompany transactions have been eliminated on
consolidation.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The consolidated financial statements have been restated for all
periods prior to the mergers to include the financial position,
results of operations and cash flows of the commonly controlled
companies.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Use
of Estimates</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company&#x2019;s consolidated financial statements have been
prepared in accordance with accounting principles generally
accepted in the United States of America and this requires
management to make estimates and assumptions that affect the
reported amounts of assets and liabilities at the date of the
consolidated financial statements and the reported amounts of
revenues and expenses during the reporting period.&#xA0;&#xA0;The
Company bases its estimates on historical experience and on various
other assumptions that are believed to be reasonable under the
circumstances.&#xA0;&#xA0;The most significant accounting estimates
with regard to these consolidated financial statements that require
the most significant and subjective judgments include, but are not
limited to, useful lives of property, plant and equipment,
recoverability of long-lived assets, determination of impairment
losses, assessment of market value of inventories and provision for
inventory obsolescence, allowance for doubtful accounts,
recognition and measurement of current and deferred income taxes,
valuation allowance for deferred tax assets, and assumptions used
for the valuation of share based payments.&#xA0;&#xA0;Accordingly,
actual results may differ significantly from these estimates under
different assumptions or conditions.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Cash
and Cash Equivalents</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Cash and cash equivalents consist of all cash balances and highly
liquid investments with original maturities of three months or
less. Because of short maturity of these investments, the carrying
amounts approximate their fair values.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(f)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Accounts
Receivable and Allowance of Doubtful Accounts</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Accounts receivable is stated at cost, net of allowance for
doubtful accounts. The Company establishes an allowance for
doubtful accounts based on management&#x2019;s assessment of the
collectability of trade and other receivables. A considerable
amount of judgment is required in assessing the amount of allowance
and the Company considers the historical level of credit losses and
applies certain percentage to accounts receivable balance. The
Company makes judgments about the credit worthiness of each
customer based on ongoing credit evaluations, and monitors current
economic trends that might impact the level of credit losses in the
future. If the financial condition of the customer begins to
deteriorate, resulting in their inability to make payments, a
larger allowance may be required.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
As of December 31, 2011 and 2010, allowance for doubtful accounts
were nil. No allowances for doubtful accounts were charged to the
income statement for the years ended December 31, 2011, 2010 and
2009.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(g)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Concentration
of Credit Risk</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company is exposed to credit risk in the normal course of
business, primarily related to accounts receivable and cash and
cash equivalents. Substantially all of the Company&#x2019;s cash and
cash equivalents are maintained with financial institutions in the
PRC, namely, Industrial and Commercial Bank of China Limited and
China Merchants Bank Company Limited, which are not insured or
otherwise protected. The Company placed $78,526,060 and $68,444,480
with these institutions as of December 31, 2011 and 2010,
respectively.&#xA0;&#xA0;The Company has not experienced any losses
in such accounts in the PRC.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<font style="FONT: 10pt Times New Roman, Times, Serif">Concentrations of credit
risk with respect to accounts receivable exists as the Company
sells a substantial portion of its products to a limited number of
customers. However, such concentrations of credit risks are limited
since the Company performs ongoing credit evaluations of its
customers&#x2019; financial condition and due to the generally short
payment terms.</font> <font style="FONT: 10pt Times New Roman, Times, Serif">The balances of accounts
receivable as of December 31, 2011 and 2010 are all amounts
outstanding for less than three months.</font></p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(h)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Inventories</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Inventories are stated at the lower of cost, determined on a
first-in first-out cost basis, or market. Costs of work-in-progress
and finished goods comprise direct materials, direct labor and an
attributable portion of manufacturing overhead. Net realizable
value is based on estimated selling price less costs to complete
and selling expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(i)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Property, Plant and Equipment</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Property, plant and equipment are stated at cost less accumulated
depreciation and any impairment losses. Expenditures for new
facilities or equipment, and major expenditures for betterment of
existing facilities or equipment are capitalized and depreciated
using the straight-line method at rates sufficient to depreciate
such costs over the estimated productive lives. All other ordinary
repair and maintenance costs are expensed as incurred.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Mineral rights are recorded at cost less accumulated depreciation
and any impairment losses. Mineral rights are amortized ratably
over the term of the lease, or the equivalent term under the units
(in tonnes) of production method, whichever is shorter.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Construction in progress primarily represents direct costs of
construction of property, plant and equipment. Costs incurred are
capitalized and transferred to property, plant and equipment upon
completion, at which time depreciation commences.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company&#x2019;s depreciation and amortization policies on
property, plant and equipment other than mineral rights and
construction in progress are as follows:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 80%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Useful&#xA0;life<br />
(in&#xA0;years)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Buildings (including salt pans)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: center">8 - 20</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Plant and machinery (including
protective shells, transmission channels and ducts)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: center">5 - 8</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 87%">Motor vehicles</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: center; WIDTH: 10%">5</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Furniture, fixtures and equipment</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: center">8</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<font style="FONT: 10pt Times New Roman, Times, Serif">In April
2011, the Company changed the estimated useful life of certain
protective shells and transmission channels and ducts that included
in plant and machinery from 8 years to 5 years.</font> <font style="FONT: 10pt Times New Roman, Times, Serif">Initially, the Company
expected the protective shells&#x2019; useful lives would be 8 years
with reference to the past wear and tear experienced in 2005. In
view of the increased rate of erosion experienced in last 2 years,
which reduced the volume of brine water flowing into the bromine
production process and adversely affected the annual bromine and
crude salt production capacities and efficiencies; and the recent
directional information from the Crude Salt Institutional
Association in Shandong Province, PRC, which indicated that the
latest erosion rate would be 20% per annum, the Company reduced the
useful lives of such protective shells to 5 years to reflect the
most productive cycle. Changes in estimates are accounted for on a
prospective basis, by depreciating those plant and machinery
current carrying values over their revised remaining useful lives.
The effect of this change in estimate, compared to the original
depreciation, for fiscal year 2011 was a pre-tax increment in
depreciation expense of $975,517. The pre-tax increase (decrease)
to depreciation expense in future periods is expected to be
$1,115,252, $836,863, $219,197, ($380,464), ($1,225,851),
($927,600), ($566,456) and ($46,457) in the eight years ending
December 31, 2019.</font></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Property, plant and equipment under capital leases are depreciated
over their expected useful lives on the same basis as owned assets,
or where shorter, the term of the lease, which is 20 years.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(j)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Asset
Retirement Obligation</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company follows FASB ASC 410, which established a uniform
methodology for accounting for estimated reclamation and
abandonment costs. FASB ASC 410 requires the fair value of a
liability for an asset retirement obligation to be recognized in
the period in which the legal obligation associated with the
retirement of the long-lived asset is incurred. When the liability
is initially recorded, the offset is capitalized by increasing the
carrying amount of the related long-lived asset. Over time, the
liability is accreted to its present value each period, and the
capitalized cost is depreciated over the useful life of
the&#xA0;related asset. To settle the liability, the obligation is
paid, and to the extent there is a difference between the liability
and the amount of cash paid, a gain or loss upon settlement is
recorded.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Currently, there are no reclamation or abandonment obligations
associated with the land being utilized for exploitation.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(k)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Recoverability
of Long Lived Assets</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In accordance with ASC 360-10-35 &#x201C;Impairment or Disposal of
Long-lived Assets&#x201D;, long-lived assets to be held and used are
analyzed for impairment whenever events or changes in circumstances
indicate that the carrying amount of an asset may not be fully
recoverable or that the useful lives of those assets are no longer
appropriate. The Company evaluates at each balance sheet date
whether events and circumstances have occurred that indicate
possible impairment.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company determines the existence of such impairment by
measuring the expected future cash flows (undiscounted and without
interest charges) and comparing such amount to the carrying amount
of the assets. An impairment loss, if one exists, is then measured
as the amount by which the carrying amount of the asset exceeds the
discounted estimated future cash flows. Assets to be disposed of
are reported at the lower of the carrying amount or fair value of
such assets less costs to sell. Asset impairment charges are
recorded to reduce the carrying amount of the long-lived asset that
will be sold or disposed of to their estimated fair values. Charges
for the asset impairment reduce the carrying amount of the
long-lived assets to their estimated salvage value in connection
with the decision to dispose of such assets.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In accordance with the provisions of the FASB ASC 360-10
&#x201C;Impairment or Disposal of Long-lived Assets&#x201D;
subsections, (i) owned long-lived assets held and used with a
carrying amount of $9,421,857 were written down to their fair value
of $7,616,259, resulting in an impairment charge of $1,805,598,
which was included in earnings for the year ended December 31,
2011; and (ii) long-lived assets held and used under capital lease
with a carrying amount of $3,051,054 were written down to their
fair value of $2,368,008, resulting in an impairment charge of
$683,046, which was included in earnings for the year ended
December 31, 2011. The following table sets forth the fair value
and related impairment charges for the year ended December 31,
2011:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10">Fair&#xA0;Value&#xA0;Measurements&#xA0;Using</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td colspan="2">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="BORDER-BOTTOM: black 1pt solid">
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Description</p>
</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Year&#xA0;ended<br />
December&#xA0;31,<br />
2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Quoted&#xA0;Prices&#xA0;in<br />
Active&#xA0;Markets&#xA0;for<br />
Identical&#xA0;Assets<br />
(Level&#xA0;1)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Significant&#xA0;Other<br />
Observable&#xA0;Inputs<br />
(Level&#xA0;2)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Significant<br />
Unobservable<br />
Inputs<br />
(Level&#xA0;3)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid" colspan="2">
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt">
Total&#xA0;Gains&#xA0;(Losses)</p>
</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -7.05pt; PADDING-LEFT: 7.05pt; WIDTH: 35%">
Owned long-lived assets (plant and machinery) held and used</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">7,616,259</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">7,616,259</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">(1,805,598</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">)</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; TEXT-INDENT: -7.05pt; PADDING-LEFT: 7.05pt">
Long-lived assets (plant and machinery) held under capital lease
and used</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">$</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">2,368,008</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">$</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">$</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">2,368,008</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(683,046</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
(2,488,644</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">)</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<font style="FONT: 10pt Times New Roman, Times, Serif">The above
owned long-lived assets, which is classified as Level 3 in the fair
value hierarchy, was valued using a discounted cash flow model
incorporating assumptions that, in management&#x2019;s judgment,
reflect the assumptions marketplace participants would use at
December 31, 2011.</font> <font style="FONT: 10pt Times New Roman, Times, Serif">Such assumptions
included an estimate of future cash flows and a discount rate based
on the 5-year PRC Treasury bill rate.</font></p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The long-lived assets held under capital lease, which is classified
as Level 2 in the fair value hierarchy, was valued by an
independent appraiser using the market approach, which included
mainly quoted prices for similar assets.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company determined that no impairment was required after going
through the impairment testing to the operating long-lived assets
as of December 31, 2010.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(l)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Retirement
Benefits</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Pursuant to the relevant laws and regulations in the PRC, the
Company participates in a defined contribution retirement plan for
its employees arranged by a governmental organization. The Company
makes contributions to the retirement scheme at the applicable rate
based on the employees&#x2019; salaries. &#xA0;The required
contributions under the retirement plans are charged to the
consolidated income statement on an accrual basis when they are
due. &#xA0;The Company&#x2019;s contributions totaled $431,428,
$457,805 and $270,324 for the years ended December 31, 2011, 2010
and 2009, respectively.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(m)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Mineral
Rights</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company follows FASB ASC 805 &#x201C;Business
Combinations&#x201D; that certain mineral rights are considered
tangible assets and that mineral rights should be accounted for
based on their substance. Mineral rights are included in property,
plant and equipment.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(n)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Leasing
arrangements</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Rentals payable under operating leases are charged to the
statements of income on a straight line basis over the term of the
relevant lease. For capital leases, the present value of future
minimum lease payments at the inception of the lease is reflected
as an asset and a liability in the statement of financial position.
Amounts due within one year are classified as short-term
liabilities and the remaining balance as long-term liabilities.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(o)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Reporting
Currency and Translation</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The financial statements of the Company&#x2019;s foreign
subsidiaries are measured using the local currency, Renminbi
(&#x201C;RMB&#x201D;), as the functional currency; whereas the
functional currency and reporting currency of the Company is the
United States dollar (&#x201C;USD&#x201D; or &#x201C;$&#x201D;).</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
As such, the Company uses the &#x201C;current rate method&#x201D; to
translate its PRC operations from RMB into USD, as required under
ASC 830 &#x201C;Foreign Currency Matters&#x201D;. The assets and
liabilities of its PRC operations are translated into USD using the
rate of exchange prevailing at the balance sheet date. The capital
accounts are translated at the historical rate. Adjustments
resulting from the translation of the balance sheets of the
Company&#x2019;s PRC subsidiaries are recorded in
stockholders&#x2019; equity as part of accumulated comprehensive
income. The statement of income and comprehensive income is
translated at average rates during the reporting period. Gains or
losses resulting from transactions in currencies other than the
functional currencies are recognized in net income for the
reporting periods as part of general and administrative expense.
The statement of cash flows is translated at average rates during
the reporting period, with the exception of issuance of shares and
payment of dividends which are translated at historical rates.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(p)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Foreign
Operations</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
All of the Company&#x2019;s operations and assets are located in
PRC.&#xA0;&#xA0;The Company may be adversely affected by possible
political or economic events in this country.&#xA0;&#xA0;The effect
of these factors cannot be accurately predicted.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(q)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Revenue
Recognition</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company recognizes revenue, net of value-added tax, when
persuasive evidence of an arrangement exists, delivery of the goods
has occurred, customer acceptance has been obtained, which means
the significant risks and ownership have been transferred to the
customer, the price is fixed or determinable and collectability is
reasonably assured.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(r)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Income
Taxes</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company accounts for income taxes in accordance with the Income
Taxes Topic of the FASB ASC, which requires the use of the
liability method of accounting for deferred income taxes. Under
this method, deferred income taxes are recorded to reflect the tax
consequences on future years of temporary differences between the
tax basis of assets and liabilities and their reported amounts at
each period end. If it is more likely than not that some portion or
all of a deferred tax asset will not be realized, a valuation
allowance is recognized. The guidance also provides criteria for
the recognition, measurement, presentation and disclosures of
uncertain tax positions. A tax benefit from an uncertain tax
position may be recognized if it is &#x201C;more likely than
not&#x201D; that the position is sustainable based solely on its
technical merits.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(s)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Exploration
Costs</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Exploration costs, which included the cost of researching
appropriate places to drill wells and the cost of actual drilling
of potential natural brine resources, were charged to the income
statement as incurred. For the year ended December 31, 2011, the
Company incurred exploration costs in the amount of $7,034,153, in
Sichuan province, PRC, for the drilling of exploratory wells and
their associated facilities in order to confirm and measure the
natural brine resources in the area of drilling. The Company
completed the drilling of exploratory wells in December 2011 and
received a testing report in mid-January 2012 which confirmed the
underground brine water resources.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(t)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Shipping
and Handling Fees and Costs</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company does not charge its customers for shipping and handling
as all customers arrange their own transportation of finished
goods. The Company classifies shipping and handling costs for
purchase of raw materials as part of the cost of net revenue, which
amounted to $506,331, $567,686 and $492,582 for the years ended
December 31, 2011, 2010 and 2009, respectively.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(u)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Contingencies</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company accrues for costs relating to litigation, including
litigation defense costs, claims and other contingent matters,
including liquidated damage liabilities, when such liabilities
become probable and reasonably estimable. Such estimates may be
based on advice from third parties or on management&#x2019;s
judgment, as appropriate. Revisions to accruals are reflected in
earnings (loss) in the period in which different facts or
information become known or circumstances change that affect the
Company&#x2019;s previous assumptions with respect to the likelihood
or amount of loss. Amounts paid upon the ultimate resolution of
such liabilities may be materially different from previous
estimates.</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
</p>
<p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(v)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Stock-based
Compensation</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Common stock, stock options and stock warrants issued to employees
or directors are recorded at their fair values estimated at grant
date using the Black-Scholes model and the portion that is
ultimately expected to vest is recognized as compensation cost over
the requisite service period.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Common stock, stock options and stock warrants issued to other than
employees or directors are recorded on the basis of their fair
value using the Black-Scholes model on the basis of the market
price of the underlying common stock on the &#x201C;valuation
date,&#x201D; which for options and warrants related to contracts
that have substantial disincentives to non-performance is the date
of the contract, and for all other contracts the measurement date
is the date that the service is complete. Expense related to the
options and warrants is recognized on a straight-line basis over
the shorter of the period over which services are to be received or
the vesting period. Where expense must be recognized prior to a
valuation date, the expense is computed under the Black-Scholes
model on the basis of the market price of the underlying common
stock at the end of the period, and any subsequent changes in the
market price of the underlying common stock up through the
valuation date is reflected in the expense recorded in the
subsequent period in which that change occurs.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(w)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Basic
and Diluted Net Income per Share of Common Stock</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Basic earnings per common share are based on the weighted average
number of shares outstanding during the periods
presented.&#xA0;&#xA0;Diluted earnings per share are computed using
weighted average number of common shares plus dilutive common share
equivalents outstanding during the period.&#xA0;&#xA0;Anti-dilutive
common stock equivalents which were excluded from the calculation
of number of dilutive common stock equivalents amounted to 535,449,
14,250 and 305,449 shares for the years ended December 31, 2011,
2010 and 2009, respectively.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
following table sets forth the computation of basic and diluted
earnings per share:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10">Years&#xA0;ended&#xA0;December&#xA0;31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2009</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Numerator</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt; WIDTH: 61%">Net
income</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">30,952,760</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">51,283,320</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">30,591,415</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Denominator</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -9.35pt; PADDING-LEFT: 18.7pt">
Basic: Weighted-average common shares outstanding during the
year</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">34,660,866</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">34,614,667</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">30,698,824</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 9pt">Add:
Dilutive effect of stock options</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
12,749</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
60,662</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
2,873</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-LEFT: 9pt">Diluted</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">34,673,615</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">34,675,329</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">30,701,697</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Net income per share</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt">Basic</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
0.89</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
1.48</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
1.00</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt">Diluted</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
0.89</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
1.48</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
1.00</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(x)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Reclassification</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company reclassified mineral resources compensation fees,
previously included in &#x201C;General and administrative
expenses&#x201D;, for year ended December 31, 2009 into &#x201C;Cost
of net revenue&#x201D; and sales of wastewater and gain or loss on
disposal of property, plant and equipment, previously included in
&#x201C;Other Income (Expense)&#x201D; after &#x201C;Income from
Operations&#x201D;, for the years ended December 31, 2010 and 2009
into &#x201C;Other operating income&#x201D; for sales of wastewater
and gain on disposal of property, plant and equipment and
&#x201C;General and administrative expenses&#x201D; for loss on
disposal of property, plant and equipment to conform to the current
year presentation. The above reclassifications had no impact on
previously reported net income for the years ended December 31,
2010 and 2009.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(y)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Recently
adopted accounting pronouncements</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In October 2009, the FASB issued Accounting Standard Update
(&#x201C;ASU&#x201D;) No.&#xA0;2009-13, &#x201C;Multiple-Delivery
Revenue Arrangements&#x201D; (&#x201C;ASU 2009-13&#x201D;), which
establishes the accounting and reporting guidance for arrangements
including multiple deliverable revenue-generating activities, and
provides amendments to the criteria for separating deliverables,
and measuring and allocating arrangement consideration to one or
more units of accounting.</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: right; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(y)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Recently
adopted accounting pronouncements &#x2013; Continued</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The amendments of ASU 2009-13 also establish a hierarchy for
determining the selling price of a deliverable, and require
significantly enhanced disclosures to provide information about a
vendor&#x2019;s multiple-deliverable revenue arrangements, including
information about their nature and terms, significant deliverables,
and the general timing of delivery. The amendments also require
disclosure of information about the significant judgments made and
changes to those judgments, and about how the application of the
relative selling price method affects the timing or amount of
revenue recognition. The amendments of ASU 2009-13 are effective
prospectively for revenue arrangements entered into or materially
modified in annual reporting periods beginning on or after
June&#xA0;15, 2010. On January 1, 2011, the Company adopted ASU
2009-13 on a prospective basis. The adoption did not have a
material impact on the Company&#x2019;s financial position or
results of operations, but could have an impact on how the Company
accounts for any future collaboration agreements, should the
Company enter into any such agreements in the future.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In January 2010, FASB issued ASU No. 2010-06, &#x201C;Fair Value
Measurements and Disclosures (Topic 820) &#x2013; Improving
Disclosures about Fair Value Measurements&#x201D;
(&#x201C;ASU2010-06&#x201D;). This update provides amendments to ASC
Topic 820 that provide disclosures about purchases, sales,
issuances, and settlements in the roll forward of activity in Level
3 fair value measurements. Those disclosures are effective for
fiscal years beginning after December 15, 2010, and for interim
periods within those fiscal years. The Company adopted the
disclosure requirements effective January 1, 2011. The adoption of
this update did not have a material impact to the Company&#x2019;s
financial position.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(z)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Recently
issued accounting pronouncements not yet adopted</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In May 2011, FASB issued ASU No. 2011-04, &#x201C;Fair Value
Measurement (Topic 82) &#x2013; Amendments to Achieve Common Fair
Value Measurement and Disclosure Requirements in U.S. GAAP and
IFRSs&#x201D; (&#x201C;ASU 2011-04&#x201D;). The amendments in this
update will ensure that fair value has the same meaning in U.S.
GAAP and in IFRS and that their respective fair value measurement
and disclosure requirements are the same. This update is effective
prospectively for interim and annual periods beginning after
December 15, 2011. Early adoption by public entities is not
permitted, and the Company is therefore required to adopt this ASU
on January 1, 2012. The Company is evaluating the guidance and does
not expect its adoption to have a material impact on the
Company&#x2019;s results of operations, financial position or cash
flows.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In June 2011, FASB issued ASU No. 2011-05, Comprehensive Income
(&#x201C;ASU 2011-05&#x201D;), which will require companies to
present the components of net income and other comprehensive income
(&#x201C;OCI&#x201D;) either as one continuous statement or as two
consecutive statements. ASU 2011-05 eliminates the option to
present components of OCI as part of the statement of changes in
stockholders&#x2019; equity. The update does not change the items
which must be reported in OCI, how such items are measured or when
they must be reclassified to net income. In December 2011, FASB
issued ASU No. 2011-12, &#x201C;Deferral of the Effective Date for
Amendments to the Presentation of Reclassifications of Items Out of
Accumulated Other Comprehensive Income in ASU 2011-05&#x201D;
(&#x201C;ASU 2011-12&#x201D;), which defers the requirement in ASU
2011-05 that companies present reclassification adjustments for
each component of accumulated OCI and OCI. ASU 2011-05 was set to
be effective for interim and annual periods beginning after
December 15, 2011, but is deferred by ASU 2011-12. The Company does
not expect ASU 2011-05 or ASU 2011-12 to have a material impact on
its financial statements or results of operations.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In December 2011, FASB issued ASU No. 2011-11, &#x201C;Disclosures
about Offsetting Assets and Liabilities&#x201D; (&#x201C;ASU
2011-11&#x201D;), which will require disclosures for entities with
financial instruments and derivatives that are either offset on the
balance sheet in accordance with ASC 210-20-45 or ASC 815-10-45, or
subject to a master netting arrangement. ASU 2011-11 is effective
for interim and annual periods beginning on or after January 1,
2013. The Company has not completed its review of ASU 2011-11, but
it does not expect its adoption to have a material impact on the
Company&#x2019;s results of operations, financial position or cash
flows.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company does not believe that any other accounting standards
and guidance with an effective date during year ended December 31,
2011 or issued during 2011 had or are expected to have a
significant impact on the Company&#x2019;s consolidated financial
statements and the disclosures presented in the consolidated
financial statements.</p>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the basis of presentation, or accounting, and significant accounting policies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>36
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0ECMAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">PREFERRED STOCK, par value</a></td>
        <td class="nump">$ 0.001<span></span></td>
        <td class="nump">$ 0.001<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">PREFERRED STOCK, shares authorized</a></td>
        <td class="nump">1,000,000<span></span></td>
        <td class="nump">1,000,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">PREFERRED STOCK, outstanding</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">COMMON STOCK, par value</a></td>
        <td class="nump">$ 0.0005<span></span></td>
        <td class="nump">$ 0.0005<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">COMMON STOCK, shares authorized</a></td>
        <td class="nump">100,000,000<span></span></td>
        <td class="nump">100,000,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">COMMON STOCK, shares issued</a></td>
        <td class="nump">34,745,342<span></span></td>
        <td class="nump">34,735,912<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">COMMON STOCK, shares outstanding</a></td>
        <td class="nump">34,560,743<span></span></td>
        <td class="nump">34,735,912<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockShares', window );">Treasury stock, shares</a></td>
        <td class="nump">184,599<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value of common stock per share; generally not indicative of the fair market value per share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockParOrStatedValuePerShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockParOrStatedValuePerShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockShares">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockShares</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>37
<FILENAME>R17.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>RETAINED EARNINGS - APPROPRIATED<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_RetainedEarningsRestrictionsTextBlock', window );">RETAINED EARNINGS - APPROPRIATED</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 11 &#x2013; RETAINED EARNINGS &#x2013; APPROPRIATED</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In accordance with the relevant PRC regulations and the PRC
subsidiaries&#x2019; Articles of Association, the Company&#x2019;s
PRC subsidiaries are required to allocate its profit after tax to
the following reserve:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<i>Statutory Common Reserve Funds</i></p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
SCHC and SYCI are required each year to transfer 10% of the profit
after tax as reported under the PRC statutory financial statements
to the Statutory Common Reserve Funds until the balance reaches 50%
of the registered share capital.&#xA0;&#xA0;This reserve can be
used to make up any loss incurred or to increase share
capital.&#xA0;&#xA0;Except for the reduction of losses incurred,
any other application should not result in this reserve balance
falling below 25% of the registered capital. The Statutory Common
Reserve Fund as of December 31, 2011 for SCHC and SYCI is 30% and
50% of its registered capital respectively.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_RetainedEarningsRestrictionsTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Retained Earnings Restrictions [Text Block]</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_RetainedEarningsRestrictionsTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EVUAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Document and Entity Information (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
        <th class="th" colspan="1"></th>
        <th class="th" colspan="1"></th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Mar. 09, 2012</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
        <td class="text">10-K<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
        <td class="text">false<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
        <td class="text">Dec. 31,
         2011<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
        <td class="text">2011<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
        <td class="text">FY<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
        <td class="text">GURE<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
        <td class="text">GULF RESOURCES, INC.<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
        <td class="text">0000885462<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
        <td class="text">--12-31<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
        <td class="text">No<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
        <td class="text">Yes<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
        <td class="text">No<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
        <td class="text">Accelerated Filer<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">34,560,743<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityPublicFloat', window );">Entity Public Float</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 55,380,225<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>If the value is true, then the document as an amendment to previously-filed/accepted document.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_AmendmentFlag</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:booleanItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>End date of current fiscal year in the format --MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_CurrentFiscalYearEndDate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:gMonthDayItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentFiscalPeriodFocus</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:fiscalPeriodItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentFiscalYearFocus</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:gYearItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentInformationLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentPeriodEndDate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:dateItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and Other.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentType</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:submissionTypeItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCentralIndexKey</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:centralIndexKeyItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCommonStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCurrentReportingStatus</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityFilerCategory</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:filerCategoryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityPublicFloat">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityPublicFloat</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityRegistrantName</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:normalizedStringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityVoluntaryFilers</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityWellKnownSeasonedIssuer</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Trading symbol of an instrument as listed on an exchange.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_TradingSymbol</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:normalizedStringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>39
<FILENAME>R18.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>COMMON STOCK<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock', window );">COMMON STOCK</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 12 &#x2013; COMMON STOCK</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company changed the trading ticker symbol of its common stock
on the NASDAQ Global Select Market to &#x201C;GURE&#x201D; effective
at the open of the market on June 30, 2011.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Effective October 12, 2009, the Company effected a one for four
reverse stock split.&#xA0;&#xA0;All shares and per share amount for
all periods presented have been adjusted to reflect the reverse
stock split.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In March 2009, the Company issued 5,250,000 shares of its common
stock as payment for $21,287,493 of Notes and Loan Payable-Related
Party.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In March 2009, the Company issued 375,000 shares of its common
stock, valued at $615,000, to acquire assets owned by Qiufen Yuan,
Han Wang and Yufen Zhang.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In September 2009, the Company issued 1,057,341 shares of its
common stock, valued at $5,413,588, to acquire assets owned by Han
Wang, Qing Yang and Yuliang Gao.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In December 2009, the Company issued 2,941,182 shares of its common
stock at a price of $8.50 per share in a private placement. A
portion of the proceeds were received by the Company in January
2010.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In August 2008, the Company granted to one investor relations firm
a warrant to purchase a total of 25,000 shares of the
Company&#x2019;s common stock at an exercise price of $4.80&#xA0;per
share and the options vested immediately. In January 2010, the
investor relations firm made a cashless exercise for the warrant.
The Company issued 15,881 shares based on the fair market price of
$13.16.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In the fourth quarter of 2008, the Company granted to one Board
member options to purchase a total of 12,500 shares of the
Company&#x2019;s common stock at an exercise price of $1.44&#xA0;per
share and the options vested immediately.&#xA0; In February 2010,
the Company issued 12,500 shares of its common stock upon the
exercise of such stock options by the Board member.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In June 2010, the Company issued 70,560 shares of its common stock,
valued at $608,227, to acquire assets owned by Mr Jinjin Li, Ms
Qiuzhen Wang, Yueliang Wang, Kunming Tian, Gaoming Tian and
Zhiqiang Wei.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In the fourth quarter of 2010, the Company issued 95,905 shares of
its common stock based on the fair market prices of $8.3 - $11.8
upon the cashless exercise of 187,500 stock options granted to the
Board members and employees.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In the second quarter of 2011, the Company issued 9,430 shares of
its common stock based on the fair market price of $3.42 upon the
cashless exercise of 12,500 stock options granted to a Board
member.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable).  Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 4.E)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6228006&amp;loc=d3e74512-122707<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21484-112644<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 4<br><br> -Subparagraph (SAB TOPIC 4.C)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187143-122770<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Preferred Stock<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6521494<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 5<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Article 4<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section C<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21488-112644<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 4<br><br> -Section 08<br><br> -Paragraph d<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section E<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23285-112656<br><br><br><br>Reference 17: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 18: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(d),(e))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 19: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Chapter 1<br><br> -Section B<br><br> -Paragraph 7, 11A<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 20: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 21: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 22: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br><br><br>Reference 23: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21564-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityNoteDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>40
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EY1AG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="3">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2009</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>NET REVENUE</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Net revenue</a></td>
        <td class="nump">$ 164,980,453<span></span></td>
        <td class="nump">$ 158,335,023<span></span></td>
        <td class="nump">$ 110,276,908<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpensesAbstract', window );"><strong>OPERATING EXPENSES / INCOME</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRevenue', window );">Cost of net revenue</a></td>
        <td class="num">(89,538,212)<span></span></td>
        <td class="num">(80,254,759)<span></span></td>
        <td class="num">(62,697,871)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_SellingMarketingAndOtherOperatingExpenses', window );">Sales, marketing and other operating expenses</a></td>
        <td class="num">(86,936)<span></span></td>
        <td class="num">(136,364)<span></span></td>
        <td class="num">(21,712)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpense', window );">Research and development cost</a></td>
        <td class="num">(398,842)<span></span></td>
        <td class="num">(2,200,291)<span></span></td>
        <td class="num">(500,406)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ExplorationExpense', window );">Exploration costs</a></td>
        <td class="num">(7,034,153)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Write-off / Impairment on property, plant and equipment</a></td>
        <td class="num">(7,570,566)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
        <td class="num">(17,874,296)<span></span></td>
        <td class="num">(6,871,091)<span></span></td>
        <td class="num">(5,344,833)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherOperatingIncome', window );">Other operating income</a></td>
        <td class="nump">1,821,010<span></span></td>
        <td class="nump">223,715<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpenses', window );">Costs and Expenses</a></td>
        <td class="num">(120,681,995)<span></span></td>
        <td class="num">(89,238,790)<span></span></td>
        <td class="num">(68,564,822)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">INCOME FROM OPERATIONS</a></td>
        <td class="nump">44,298,458<span></span></td>
        <td class="nump">69,096,233<span></span></td>
        <td class="nump">41,712,086<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpenseAbstract', window );"><strong>OTHER INCOME (EXPENSES)</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
        <td class="num">(212,441)<span></span></td>
        <td class="num">(1,052)<span></span></td>
        <td class="num">(17,078)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
        <td class="nump">269,614<span></span></td>
        <td class="nump">242,988<span></span></td>
        <td class="nump">80,805<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpense', window );">Nonoperating Income (Expense), Total</a></td>
        <td class="nump">57,173<span></span></td>
        <td class="nump">241,936<span></span></td>
        <td class="nump">63,727<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">INCOME BEFORE TAXES</a></td>
        <td class="nump">44,355,631<span></span></td>
        <td class="nump">69,338,169<span></span></td>
        <td class="nump">41,775,813<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">INCOME TAXES</a></td>
        <td class="num">(13,402,871)<span></span></td>
        <td class="num">(18,054,849)<span></span></td>
        <td class="num">(11,184,398)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">NET INCOME</a></td>
        <td class="nump">30,952,760<span></span></td>
        <td class="nump">51,283,320<span></span></td>
        <td class="nump">30,591,415<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxAbstract', window );"><strong>COMPREHENSIVE INCOME:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
        <td class="nump">30,952,760<span></span></td>
        <td class="nump">51,283,320<span></span></td>
        <td class="nump">30,591,415<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract', window );"><strong>OTHER COMPREHENSIVE INCOME</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease', window );">- Foreign currency translation adjustments</a></td>
        <td class="nump">12,493,402<span></span></td>
        <td class="nump">5,110,249<span></span></td>
        <td class="num">(183,595)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">COMPREHENSIVE INCOME</a></td>
        <td class="nump">$ 43,446,162<span></span></td>
        <td class="nump">$ 56,393,569<span></span></td>
        <td class="nump">$ 30,407,820<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>EARNINGS PER SHARE</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">BASIC</a></td>
        <td class="nump">$ 0.89<span></span></td>
        <td class="nump">$ 1.48<span></span></td>
        <td class="nump">$ 1.00<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">DILUTED</a></td>
        <td class="nump">$ 0.89<span></span></td>
        <td class="nump">$ 1.48<span></span></td>
        <td class="nump">$ 1.00<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract', window );"><strong>WEIGHTED AVERAGE NUMBER OF SHARES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">BASIC</a></td>
        <td class="nump">34,660,866<span></span></td>
        <td class="nump">34,614,667<span></span></td>
        <td class="nump">30,698,824<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">DILUTED</a></td>
        <td class="nump">34,673,615<span></span></td>
        <td class="nump">34,675,329<span></span></td>
        <td class="nump">30,701,697<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_SellingMarketingAndOtherOperatingExpenses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Selling, Marketing and Other Operating Expenses</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_SellingMarketingAndOtherOperatingExpenses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6390789&amp;loc=d3e2420-110228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 45, 46, 47<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetImpairmentCharges</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e540-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A5<br><br> -Appendix A<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 8, 9, 10, 11, 12, 13, 14<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6508144<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e557-108580<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ComprehensiveIncomeNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTaxAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ComprehensiveIncomeNetOfTaxAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate cost of goods produced and sold and services rendered during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 2<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostOfRevenue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpenses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total costs of sales and operating expenses for the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostsAndExpenses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpensesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostsAndExpensesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 52<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945512&amp;loc=d3e4984-109258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 20<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 7<br><br> -Paragraph 18<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.23)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 36, 37, 38<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920599&amp;loc=d3e1252-109256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasic</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 11, 12, 36<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 20<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920599&amp;loc=d3e1252-109256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 7<br><br> -Paragraph 18<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ExplorationExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Exploration expenses (including prospecting) related to oil and gas producing entities and would be included in operating expenses of that entity. Costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of containing oil and gas reserves, including costs of drilling exploratory wells and exploratory-type stratigraphic test wells. Exploration costs may be incurred both before acquiring the related property (sometimes referred to in part as prospecting costs) and after acquiring the property. Principal types of exploration costs, which include depreciation and applicable operating costs of support equipment and facilities and other costs of exploration activities, are: (i) Costs of topographical, geographical and geophysical studies, rights of access to properties to conduct those studies, and salaries and other expenses of geologists, geophysical crews, and others conducting those studies. Collectively, these are sometimes referred to as geological and geophysical or "G&amp;G" costs. (ii) Costs of carrying and retaining undeveloped properties, such as delay rentals, ad valorem taxes on properties, legal costs for title defense, and the maintenance of land and lease records. (iii) Dry hole contributions and bottom hole contributions. (iv) Costs of drilling and equipping exploratory wells. (v) Costs of drilling exploratory-type stratigraphic test wells.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 932<br><br> -SubTopic 360<br><br> -Section 25<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6474861&amp;loc=d3e64954-109465<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 932<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-10.(a)(15))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6949603&amp;loc=d3e511914-122862<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Audit and Accounting Guide (AAG)<br><br> -Number AAG-OGP<br><br> -Chapter 2<br><br> -Paragraph 48<br><br> -IssueDate 2006-05-01<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 19<br><br> -Paragraph 17<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 10<br><br> -Paragraph a<br><br> -Subparagraph 15<br><br> -Article 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ExplorationExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GeneralAndAdministrativeExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 4<br><br> -Section 08<br><br> -Paragraph h<br><br> -Subparagraph 1(i)<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Income Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (a),(b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 45<br><br> -Subparagraph a, b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxExpenseBenefit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cost of borrowed funds accounted for as interest that was charged against earnings during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 34<br><br> -Paragraph 21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 9<br><br> -Article 9<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher OTS<br><br> -Name Federal Regulation (FR)<br><br> -Number Title 12<br><br> -Chapter V<br><br> -Section 563c.102<br><br> -Paragraph 9<br><br> -Subsection II<br><br> -LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy.  It will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 7<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 115<br><br> -Paragraph 14<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InvestmentIncomeInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e565-108580<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A7<br><br> -Appendix A<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 10, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 87-21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 19<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28, 29, 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 7<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NonoperatingIncomeExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpenseAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NonoperatingIncomeExpenseAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net result for the period of deducting operating expenses from operating revenues.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity, net of tax.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 20<br><br> -Subparagraph (b),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920433&amp;loc=d3e998-108581<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 24<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 14, 17, 19, 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 52<br><br> -Paragraph 13, 20, 31<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherOperatingIncome">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The total amount of other operating income, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherOperatingIncome</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ResearchAndDevelopmentExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 985<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 730<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141<br><br> -Paragraph 51<br><br> -Subparagraph g<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 2<br><br> -Paragraph 12, 13<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 86<br><br> -Paragraph 11, 12<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ResearchAndDevelopmentExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 1<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Revenues</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RevenuesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920599&amp;loc=d3e1505-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 40<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920599&amp;loc=d3e1448-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 171<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Weighted-Average Number of Common Shares Outstanding<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 40<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>41
<FILENAME>R12.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>PROPERTY, PLANT AND EQUIPMENT UNDER CAPITAL LEASES, NET<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock', window );">PROPERTY, PLANT AND EQUIPMENT UNDER CAPITAL LEASES, NET</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 6 &#x2013; PROPERTY, PLANT AND EQUIPMENT UNDER CAPITAL LEASES,
NET</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Property, plant and equipment under capital leases, net consist of
the following:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6">As of December 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">At cost:</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-LEFT: 9pt; WIDTH: 74%">Buildings</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">130,605</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 9pt">Plant
and machinery</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
2,476,460</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Total</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,607,065</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Less: accumulated
depreciation and amortization</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(270,145</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">Net book value</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
2,336,920</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The above buildings erected on parcels of land located in
Shouguang, PRC, are collectively owned by local townships. The
Company has not been able to obtain property ownership certificates
over these buildings as the Company could not obtain land use
rights certificates on the underlying parcels of land.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
During the year ended December 31, 2011, depreciation and
amortization expense totaled $265,057, of which $172,103 and
$92,954 were recorded as cost of sales and administrative expenses
respectively.</p>
<p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
An impairment of $683,046 was made in the second quarter of 2011
for those idle assets without enhancements and adjustments been
performed in early 2011, and included in write-off / impairment on
property, plant and equipment.</p>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for capital leasing arrangements including, but not limited to, the following: a) the basis on which contingent rental payments are determined; (b) the existence and terms of renewal or purchase options and escalation clauses; (c) restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 840<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 840<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6452660&amp;loc=d3e36991-112694<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>42
<FILENAME>R11.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>PROPERTY, PLANT AND EQUIPMENT, NET<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">PROPERTY, PLANT AND EQUIPMENT, NET</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 5 &#x2013; PROPERTY, PLANT AND EQUIPMENT, NET</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Property, plant and equipment, net consist of the following:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6">As&#xA0;of&#xA0;December&#xA0;31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">At cost:</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 27pt; WIDTH: 74%">
Mineral rights</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">6,318,750</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">6,011,790</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-LEFT: 27pt">Buildings</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">40,974,528</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">38,878,225</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 27pt">Plant and
machinery</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">136,862,383</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">88,149,060</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 27pt">Motor
vehicles</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">7,024</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">6,683</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 27pt">
Furniture, fixtures and office equipment</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
4,057,356</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
3,850,525</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Total</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">188,220,041</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">136,896,283</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Less: accumulated
depreciation and amortization</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(41,019,301</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(24,717,284</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">Net book value</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
147,200,740</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
112,178,999</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company has certain buildings and salt pans erected on parcels
of land located in Shouguang, PRC, and such parcels of land are
collectively owned by local townships. The Company has not been
able to obtain property ownership certificates over these buildings
and salt pans as the Company could not obtain land use rights
certificates on the underlying parcels of land.&#xA0;The Company
could not obtain property ownership certificates covering certain
properties of aggregate carrying value of $33,108,012 and
$33,868,298 as at December 31, 2011 and 2010, respectively.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In the fiscal year 2011, the Company reclassified certain
protective shells for crude salt pans with cost of $2,204,600
(RMB14.6 million), previously included in building, into plant and
equipment for consistent classification with other similar assets.
Comparative figures for the fiscal year 2010 were reclassified to
conform to the current year presentation. There is no impact on the
statements of income as estimated useful lives of the assets being
reclassified was not changed.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
During the year ended December 31, 2011, depreciation and
amortization expense totaled $17,432,382, of which $16,348,509 and
$1,083,873 were recorded as cost of net revenue and administrative
expenses, respectively.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
During the year ended December 31, 2010, depreciation and
amortization expense totaled $11,097,149 of which $10,236,230 and
$860,919 were recorded as cost of net revenue and administrative
expenses, respectively.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
During the year ended December 31, 2009, depreciation and
amortization expense totaled $7,199,658, of which $7,019,608 and
$180,050 were recorded as cost of net revenue and administrative
expenses, respectively.</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0px"></p>
<p style="MARGIN: 0px">&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In June 2010, the Company completed the construction of a
production line for wastewater treatment chemical additives line at
a total cost of RMB60 million (equivalent to $8,838,000).&#xA0; A
retention amount of $453,000 as of December 31, 2010, representing
5% of the total cost will be paid to Shouguang City Shengkun
Construction Co., Ltd. upon one year after the completion date.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In mid-May 2011, the local PRC government requested to take the
leased land of original Factory No. 4 for redevelopment and agreed
to lease another parcel of land to the Company nearby to the
existing Factory No. 4. The total construction cost of the new
Factory No. 4 was approximately $6,207,901, which was completed and
restarted operations in December 2011.&#xA0;A rental agreement was
subsequently signed in February 2012 with the local Township
government for the lease of the parcel of land with an annual
payment of RMB100,000 (approximately $15,871) up to December 31,
2031.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The operations of the original Factory No. 4 were stopped in early
July 2011 to cooperate with the demolition of the factory and the
relocation of useful plant and machinery to the new factory. For
those fixed assets that could not be relocated to the new factory,
the Company recognized write-offs of $1,384,443 in the second
quarter of 2011 and included the impairment loss in write-off /
impairment on property, plant and equipment. A sum of $1,340,026
was received from the local PRC government in the third quarter of
2011 as compensation for the demolition of original Factory No. 4
and included in the income statement as other operating income.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Besides the assets acquisition as mentioned in Note 2, the Company
carried out the following major enhancement projects to the
existing facilities in 2011:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0px"></td>
<td style="WIDTH: 0.25in">(a)</td>
<td style="TEXT-ALIGN: justify">In the first quarter of 2011, the
Company carried out enhancements to the new property, plant and
machinery acquired under finance lease in January 2011 (see Note 6)
by making capital improvement in reconstruction and renovation work
at a cost of approximately $3,050,400, which was recorded as
buildings ($297,349) and plant and machinery ($2,753,051), for the
operation of the real property, production facilities, channels and
ducts, other production equipment and the buildings located on the
property (&#x201C;Branch 1 of Factory No. 1&#x201D;). The capital
improvement works to the buildings and plant and equipment have
estimated useful lives of 15-20 years and 5-8 years,
respectively.</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0px"></td>
<td style="WIDTH: 0.25in">(b)</td>
<td style="TEXT-ALIGN: justify">In late June 2011, the Company
completed enhancement projects to its crude salt fields, extraction
wells and transmission channels and ducts at a total cost of
RMB210,113,600 (equivalent to $32,466,753), which were recorded as
plant and machinery. In particular, the Company incurred
reconstruction and renovation works at a cost of approximately
$12,379,153 for its existing crude salt fields in Factory No. 1, 5
to 9, at costs of approximately $12,361,600 for its extraction
wells in Factory No. 1 to 9, and $7,726,000 for its transmission
channels and ducts, respectively, in Factory No. 1 to 9. The
enhancement work to existing extraction wells, drilling deeper
underground for better quality brine water, has estimated useful
lives of 8 years. None of the existing extraction wells were
impaired as a result of the drilling enhancement. The enhancement
works to crude salt fields, transmission channels and ducts,
replacing eroded protective shells for crude salt fields and
transmission channels and ducts, have estimated useful lives of 5
years. Certain eroded protective shells for crude salt fields and
transmission channels and ducts, with net book values of $1,632,004
and $1,315,476, respectively, were replaced during the enhancement
projects, write-offs of the same amounts, were made in the second
quarter of 2011 and included in write-off / impairment on property,
plant and equipment. The Company also recognized write-offs of
certain eroded protective shells for transmission channels and
ducts, without enhancement works, with net book values of $749,999,
during the regular inspection of fixed assets, and included in
write-off / impairment on property, plant and equipment.</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0px"></td>
<td style="WIDTH: 0.25in">(c)</td>
<td style="TEXT-ALIGN: justify">In mid-June 2011, the Company
switched its production line for wastewater treatment chemical
additives, with net book value of $8,320,410, to the production of
pharmaceutical and agricultural chemical intermediates at a cost of
$153,426 as the Company experienced some technological limitations
on extraction purity, which lead to a lower than expected gross
margin for wastewater treatment chemical additives. An impairment
of $1,805,598 was made in the second quarter of 2011 and included
in write-off / impairment on property, plant and equipment.</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Enhancements of protective shells to the crude salt fields,
extraction wells and transmission channels and ducts are carried
out every 5 to 8 years, depending on the need to do so, that is,
when regular repair and maintenance work identifies the replacement
needs. The erosion rate of protection shells is affected by
different weather conditions and the change in acid components of
brine water over time.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
There were no impairment provisions made at December 31, 2010 and
2009.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
For the years ended December 31, 2011, 2010 and 2009, ordinary
repair and maintenance expenses were $1,078,134, $199,257 and
$27,317, respectively.</p>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.13-14)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391110&amp;loc=d3e2921-110230<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>43
<FILENAME>R23.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>MAJOR SUPPLIERS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock', window );">MAJOR SUPPLIERS</a></td>
        <td class="text"><div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
NOTE 17 &#x2013; MAJOR SUPPLIERS</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
&#xA0;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">
During the year ended December 31, 2011, the Company purchased
80.7% of its raw materials from its top five suppliers. At December
31, 2011, amounts due to those suppliers included in accounts
payable were $2,883,384.&#xA0;&#xA0;During the year ended December
31, 2010, the Company purchased 89.1% of its raw materials from its
top five suppliers.&#xA0;&#xA0;At December 31, 2010, amounts due to
those suppliers included in accounts payable were
$5,126,619.&#xA0;&#xA0;During the year ended December 31, 2009, the
Company purchased 49.5% of its raw materials from its top five
suppliers.&#xA0;&#xA0;At December 31, 2009, amounts due to those
suppliers included in accounts payable were $4,016,890. This
concentration makes the Company vulnerable to a near-term severe
impact, should the relationships be terminated.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for arrangements in which the entity has agreed to expend funds to procure goods or service from one or more suppliers, or to commit resources to supply goods or services to one or more customers.  May include identification of the goods or services to be purchased, the goods or services to be furnished, identity of the buyer or seller, pricing, effects on pricing (such as penalties) of failing to reach minimum quantities required to be purchased, effects on pricing (such as penalties) of failing to deliver minimum quantities required to be furnished, cancellation rights, and termination provisions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.25)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 25<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 17<br><br> -Article 9<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 7<br><br> -Section 03<br><br> -Paragraph 19<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>44
<FILENAME>R19.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>TREASURY STOCK<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockTextBlock', window );">TREASURY STOCK</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 13 &#x2013; TREASURY STOCK</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In June 2011, the Company repurchased 100,500 shares of common
stock of the Company at an average price of $3.46 per share for a
total cost of $348,147 under the approval of the Board of
Directors. In September 2011, the Company repurchased 84,099 common
stock of the Company at an average price of $1.81 per share for a
total cost of $151,853 under the approval of the Board of
Directors. The Company recorded the entire purchase price of the
treasury stock as a reduction of equity.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for an entity's treasury stock, including the average cost per share, carrying basis for each class of treasury stock, description of share repurchase program authorized by an entity's board of directors, the number of shares repurchased, the cost of the shares repurchased, the remaining maximum dollar value of shares available for repurchase under the program, the treatment of the purchase price in excess of the current market value, number of shares held for each class of treasury stock, and other information necessary to a fair presentation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R15.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>TAXES PAYABLE<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_TaxDisclosureTextBlock', window );">TAXES PAYABLE</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<font style="FONT-FAMILY: Times New Roman, Times, Serif">NOTE 9
&#x2013; TAXES PAYABLE</font></p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Taxes
payable consists of the following:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6">As of December 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 74%">Income tax payable</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">1,761,452</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">4,377,314</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Mineral resource compensation fee
payable</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">410,719</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">486,585</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Value added tax payable</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">540,463</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,031,525</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Land use tax payable</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,081,117</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">966,397</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Other tax
payables</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
264,799</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
301,274</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">Total</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
4,058,550</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
7,163,095</td>
</tr>
</table>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_TaxDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tax Disclosure [Text Block]</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_TaxDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>R13.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>ACCOUNTS PAYABLE AND ACCRUED EXPENSE<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock', window );">ACCOUNTS PAYABLE AND ACCRUED EXPENSE</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 7 &#x2013; ACCOUNTS PAYABLE AND ACCRUED EXPENSE</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Accounts payable and accrued expenses consist of the following:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6">As of December 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 74%">Accounts payable</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">3,645,804</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">5,661,329</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Salary payable</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">132,454</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">121,121</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Social security insurance contribution
payable</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">39,129</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">30,946</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Amount due to a contractor</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,422,042</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Price adjustment funds</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,031,685</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Other
payables</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
1,102,529</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
606,339</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">Total</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
7,373,643</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
6,419,735</td>
</tr>
</table>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20, 24<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a),20,24)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>47
<FILENAME>R14.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>DUE TO A RELATED PARTY AND RELATED PARTY TRANSACTIONS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">DUE TO A RELATED PARTY AND RELATED PARTY TRANSACTIONS</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 8 &#x2013; DUE TO A RELATED PARTY AND RELATED PARTY
TRANSACTIONS</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Related party transactions consist of the following:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10" nowrap="nowrap">Years ended December 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center">
2011</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center">
2010</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center">
2009</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; PADDING-LEFT: 9pt">
Purchase of raw materials from a related party:</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; WIDTH: 61%">
-Shouguang Hongye Trading Company Limited (Note (a))</td>
<td style="PADDING-BOTTOM: 2.5pt; WIDTH: 1%">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; WIDTH: 1%">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; WIDTH: 10%">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; WIDTH: 1%">
&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt; WIDTH: 1%">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; WIDTH: 1%">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; WIDTH: 10%">
3,628,986</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; WIDTH: 1%">
</td>
<td style="PADDING-BOTTOM: 2.5pt; WIDTH: 1%">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; WIDTH: 1%">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; WIDTH: 10%">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; WIDTH: 1%">
&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 12%">Note (a) -</td>
<td style="TEXT-ALIGN: justify; WIDTH: 88%">Mr. Zhi Yang, a
shareholder and son of the Chairman of the Company, had a 10%
equity interest in Shouguang Hongye Trading Company Limited
(&#x201C;Hongye&#x201D;) for the period from August 4, 2010 to
December 2, 2010.&#xA0;&#xA0;Since December 2, 2010, Mr. Zhi Yang
has not had any ownership interest in Hongye.&#xA0;&#xA0;Hongye is
one of the major suppliers to the Company of sulfur, raw coal and
various chemicals for the production of bromine and chemical
products.&#xA0;&#xA0;The outstanding payables to Hongye, which were
included in accounts payable as at December 31, 2010, amounted to
$1,146,810.&#xA0;&#xA0;The products were sold to the Company by
Hongye at market prices.</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
During the fiscal year 2011, the Company borrowed a sum of
$7,823,475, and fully repaid later during the same year, from
Jiaxing Lighting Appliance Company Limited (&#x201C;Jiaxing
Lighting&#x201D;), in which Mr. Ming Yang, a shareholder and the
Chairman of the Company, had a 100% equity interest in Jiaxing
Lighting. The amounts due to Jiaxing Lighting were unsecured,
interest free and repayable on demand.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 3A<br><br> -Section 04<br><br> -Paragraph b<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 57<br><br> -Paragraph 1-4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39678-107864<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 4<br><br> -Section 08<br><br> -Paragraph k<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39691-107864<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RelatedPartyTransactionsDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>48
<FILENAME>R16.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CAPITAL LEASE OBLIGATIONS<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock', window );">CAPITAL LEASE OBLIGATIONS</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 10 &#x2013; CAPITAL LEASE OBLIGATIONS&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
components of capital lease obligations are as follows:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Imputed</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6">As of December 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Interest rate</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 61%">Total capital lease
obligations</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">6.7</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">%</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">3,226,300</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Less: Current
portion</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(189,742</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Capital lease
obligations, net of current portion</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
3,036,558</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Interest expense from capital lease obligations amounted to
$210,347, was charged to the income statements for the year ended
December 31, 2011.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for debt and capital lease obligations can be reported. Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Also includes descriptions and amounts of capital leasing arrangements that consist of direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtAndCapitalLeasesDisclosuresTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R21.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>INCOME TAXES<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">INCOME TAXES</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 15 &#x2013; INCOME TAXES</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company utilizes the asset and liability method of accounting
for income taxes in accordance with FASB ASC 740-10.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;United
States</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Gulf Resources, Inc. is subject to the United States of America Tax
law at tax rate of 34%. No provision for the US federal income
taxes has been made as the Company had no US taxable income for the
years ended December 31, 2011, 2010 and 2009, and management
believes that its earnings are permanently invested in the PRC.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;BVI</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Upper Class Group Limited was incorporated in the BVI and, under
the current laws of the BVI, it is not subject to tax on income or
capital gain in the BVI. Upper Class Group Limited did not generate
assessable profit for the years ended 31 December 31, 2011, 2010
and 2009.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Hong
Kong</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Hong Kong Jiaxing Industrial Limited&#xA0;was incorporated in Hong
Kong and is subject to Hong Kong profits tax. The Company is
subject to Hong Kong taxation on its activities conducted in Hong
Kong and income arising in or derived from Hong Kong.&#xA0;&#xA0;No
provision for profits tax has been made as the Company has no
assessable income for the years.&#xA0;&#xA0;The applicable
statutory tax rates for the years ended December 31, 2011, 2010 and
2009 are 16.5%.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;PRC</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Enterprise income tax (&#x201C;EIT&#x201D;) for SCHC and SYCI in the
PRC is charged at 25% of the assessable profits.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The operating subsidiaries SCHC and SYCI are wholly foreign-owned
enterprises (&#x201C;FIE&#x201D;) incorporated in the PRC and are
subject to PRC Foreign Enterprise Income Tax Law.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
On February 22, 2008, the Ministry of Finance (&#x201C;MOF&#x201D;)
and the State Administration of Taxation (&#x201C;SAT&#x201D;)
jointly issued Cai Shui [2008] Circular 1 (&#x201C;Circular
1&#x201D;). According to Article 4 of Circular 1, distributions of
accumulated profits earned by a FIE prior to January 1, 2008 to
foreign investor(s) in 2008 will be exempted from withholding tax
(&#x201C;WHT&#x201D;) while distribution of the profit earned by an
FIE after January 1, 2008 to its foreign investor(s) shall be
subject to WHT at 5% effective tax rate.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
As of December 31, 2011 and 2010, the accumulated distributable
earnings under the Generally Accepted Accounting Principles
(&#x201C;GAAP&#x201D;) of PRC are $180,939,187 and $129,201,268,
respectively. Since the Company intends to reinvest its earnings to
further expand its businesses in mainland China, its foreign
invested enterprises do not intend to declare dividends to their
immediate foreign holding companies in the foreseeable future.
Accordingly, as of December 31, 2011 and 2010, the Company has not
recorded any WHT on the cumulative amount of distributable retained
earnings of its foreign invested enterprises in China. As of
December 31, 2011 and 2010, the unrecognized WHT are $7,965,999 and
$5,431,616, respectively.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The components of the provision for income taxes from continuing
operations are:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10" nowrap="nowrap">Years ended December 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2009</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 61%">Current taxes &#x2013;
PRC</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">15,972,518</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">18,066,297</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">11,266,564</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Deferred tax
&#x2013; PRC</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(2,569,647</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(11,448</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(82,166</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
13,402,871</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
18,054,849</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
11,184,398</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The effective income tax expenses differ from the PRC statutory
income tax rate of 25% from continuing operations in the PRC as
follows:-</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10" nowrap="nowrap">Years ended December 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2009</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 61%">Statutory income tax
rate</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">25</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">%</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">25</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">%</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">25</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">%</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Non-taxable items</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(1</td>
<td style="TEXT-ALIGN: left">)%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0</td>
<td style="TEXT-ALIGN: left">%</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Non-deductible items</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">3</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0</td>
<td style="TEXT-ALIGN: left">%</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">US federal net
operating loss</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
3</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">%</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
1</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">%</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
2</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">%</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Effective tax
rate</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
30</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">%</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
26</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">%</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
27</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">%</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
As of December 31, 2011 and 2010, the Company had US federal net
operating loss (&#x201C;NOL&#x201D;) of approximately $30 million and
$25 million available to offset against future federal income tax
liabilities, respectively.&#xA0;&#xA0;NOL can be carried forward up
to 15 years from the year the loss is incurred. NOL of
approximately $12 million will expire at the beginning of 2014. The
Company believes the realization of benefits from these losses
remains uncertain due to the Company&#x2019;s limited operating
history and continuing losses. Accordingly, a 100% deferred tax
asset valuation allowance has been provided.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Differences between the application of accounting principles and
tax laws cause differences between the bases of certain assets and
liabilities for financial reporting purposes and tax purposes. The
tax effects of these differences, to the extent they are temporary,
are recorded as deferred tax assets and liabilities. Significant
components of the Company&#x2019;s deferred tax assets and
liabilities at December&#xA0;31, 2011 and 2010 are as follows:</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6">As of December 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt">Deferred
tax liabilities</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt">Deferred
tax assets:</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in; WIDTH: 74%">
Allowance for obsolete and slow-moving inventories</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">3,718</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">1,674</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in">
Impairment on property, plant and equipment</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">639,031</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in">
Exploration costs</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,797,391</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in">Repair
and maintenance costs</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">224,984</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in">
Property, plant and equipment</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">81,060</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">98,020</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in">
Property, plant and equipment under capital leases</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(8,001</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; TEXT-INDENT: -27pt; PADDING-LEFT: 0.5in">
US federal net operating loss</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
10,111,821</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
7,698,225</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt">Total
deferred tax assets</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">12,850,004</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">7,797,919</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt">
Valuation allowance</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(10,111,821</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(7,698,225</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt">
Net deferred tax asset</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
2,738,183</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
99,694</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt">Current
deferred tax asset</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">228,702</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">99,694</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -27pt; PADDING-LEFT: 27pt">
Long-term deferred tax asset</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">2,509,481</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The increase in valuation allowance for each of the years ended
December 31, 2011, 2010 and 2009 is $2,413,596, $1,005,799 and
$1,101,800, respectively.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
There was no unrecognized tax benefits and accrual for uncertain
tax positions as of December 31, 2011 and 2010.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Tax returns filed regarding tax years from 2005 through 2011 are
subject to review by the respective tax authorities.</p>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 136, 172<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 43, 44, 45, 46, 47, 48, 49<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>50
<FILENAME>R26.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>RESEARCH AND DEVELOPMENT EXPENSES<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_ResearchAndDevelopmentDisclosureTextBlock', window );">RESEARCH AND DEVELOPMENT EXPENSES</a></td>
        <td class="text"><div>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">NOTE 20
&#x2013;RESEARCH AND DEVELOPMENT EXPENSES</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
On September 6, 2007, SYCI and East China University of Science and
Technology formally opened a Co-Op Research and Development Center.
The research center is equipped with state of the art chemical
engineering instruments for the purpose of pursuing targeted
research and development of refined bromide compounds and end
products. According to the Co-Op Research Agreement, any research
achievement or patents will become assets of the Company.
Originally, the Company will provide $500,000 annually until June
2012 to East China University of Science and Technology for
research. On June 7, 2011, the Company and East China University of
Science and Technology mutually agreed to terminate the Co-op
Research Agreement due to the successful completion of the
cooperative research and development tasks related to the
development of bromine-related chemical products for the
Company.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Since the second quarter of 2010, SYCI conducted research for the
new production line of wastewater treatment additives, the purpose
of which is for the testing of the manufacturing routine and
samples. The new production line was started operation and normal
production in April 2011. However, the Company switched the
aforesaid production line to the production of pharmaceutical and
agricultural chemical intermediates in mid-June 2011 as the Company
experienced some technological limitations on extraction purity,
which lead to a lower than expected gross margin for wastewater
treatment chemical additives. The research and development expense
incurred for the new production line of wastewater treatment
additives from outside parties and the consumption of bromine
produced by the Company during the year ended December 31, 2011
were $56,286 and $105,739, respectively. The research and
development expense incurred for the new production line of
wastewater treatment additives from outside parties and the
consumption of bromine produced by the Company during the year
ended December 31, 2010 were $847,919 and $848,990,
respectively.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The total research and development expense recognized in the income
statements during the years ended December 31, 2011, 2010 and 2009
were $398,842, $2,200,291 and $500,406, respectively.</p>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_ResearchAndDevelopmentDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Research And Development Disclosure [Text Block]</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_ResearchAndDevelopmentDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>51
<FILENAME>R5.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAGHK">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Total</div>
        </th>
        <th class="th">
          <div>Settlement of Stockholder's Notes Payable</div>
        </th>
        <th class="th">
          <div>Private Placement</div>
        </th>
        <th class="th">
          <div>Common Stock</div>
        </th>
        <th class="th">
          <div>Common Stock

</div>
          <div>Settlement of Stockholder's Notes Payable</div>
        </th>
        <th class="th">
          <div>Common Stock

</div>
          <div>Private Placement</div>
        </th>
        <th class="th">
          <div>Treasury stock</div>
        </th>
        <th class="th">
          <div>Additional paid-in capital</div>
        </th>
        <th class="th">
          <div>Additional paid-in capital

</div>
          <div>Settlement of Stockholder's Notes Payable</div>
        </th>
        <th class="th">
          <div>Additional paid-in capital

</div>
          <div>Private Placement</div>
        </th>
        <th class="th">
          <div>Statutory common reserve</div>
        </th>
        <th class="th">
          <div>Retained earnings</div>
        </th>
        <th class="th">
          <div>Cumulative translation adjustment</div>
        </th>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BEGINNING BALANCE at Dec. 31, 2008</a></td>
        <td class="nump">$ 52,469,220<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 12,459<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 13,072,668<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 3,223,418<span></span></td>
        <td class="nump">$ 31,817,465<span></span></td>
        <td class="nump">$ 4,343,210<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">BEGINNING BALANCE (in shares) at Dec. 31, 2008</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">24,917,211<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">BEGINNING BALANCE (in shares) at Dec. 31, 2008</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">24,917,211<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease', window );">Translation adjustment</a></td>
        <td class="num">(183,595)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">133,789<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Common stock issued (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,250,000<span></span></td>
        <td class="nump">2,941,182<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Common stock issued</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">21,287,493<span></span></td>
        <td class="nump">23,500,040<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,625<span></span></td>
        <td class="nump">1,471<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">21,284,868<span></span></td>
        <td class="nump">23,498,569<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Common stock issued for acquiring assets (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,432,341<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueAcquisitions', window );">Common stock issued for acquiring assets</a></td>
        <td class="nump">6,028,588<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">716<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">6,027,872<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued', window );">Issuance of warrants to non-employees</a></td>
        <td class="nump">1,415,772<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,415,772<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Issuance of stock options to employees</a></td>
        <td class="nump">606,468<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">606,468<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
        <td class="nump">30,591,415<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">30,591,415<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_AdjustmentToCommonStockIssuedShares', window );">Fractional shares upon reverse stock split</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">332<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_TransferToRetainedEarningsAppropriatedForLegalReserve', window );">Transfer to statutory common reserve fund</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,456,351<span></span></td>
        <td class="num">(2,456,351)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_Reclassification', window );">Reclassification adjustment</a></td>
        <td class="num">(1,649,815)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(1,188,191)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(144,240)<span></span></td>
        <td class="num">(317,384)<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">ENDING BALANCE at Dec. 31, 2009</a></td>
        <td class="nump">134,382,970<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">17,271<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">64,718,026<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,679,769<span></span></td>
        <td class="nump">59,808,289<span></span></td>
        <td class="nump">4,159,615<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">ENDING BALANCE (in shares) at Dec. 31, 2009</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">34,541,066<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">ENDING BALANCE (in shares) at Dec. 31, 2009</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">34,541,066<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease', window );">Translation adjustment</a></td>
        <td class="nump">5,110,249<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,110,249<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Common stock issued for exercising stock options (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">108,405<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Common stock issued for exercising stock options</a></td>
        <td class="nump">18,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">54<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">17,946<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_StockIssuedDuringPeriodSharesStockWarrantsExercised', window );">Common stock issued for exercising warrants (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">15,881<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_StockIssuedDuringPeriodValueStockWarrantsExercised', window );">Common stock issued for exercising warrants</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">8<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(8)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Common stock issued for acquiring assets (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">70,560<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueAcquisitions', window );">Common stock issued for acquiring assets</a></td>
        <td class="nump">608,227<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">35<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">608,192<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued', window );">Issuance of warrants to non-employees</a></td>
        <td class="nump">193,428<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">193,428<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Issuance of stock options to employees</a></td>
        <td class="nump">1,089,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,089,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
        <td class="nump">51,283,320<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">51,283,320<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_TransferToRetainedEarningsAppropriatedForLegalReserve', window );">Transfer to statutory common reserve fund</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">4,591,524<span></span></td>
        <td class="num">(4,591,524)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">ENDING BALANCE at Dec. 31, 2010</a></td>
        <td class="nump">192,685,194<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">17,368<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">66,626,584<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">10,271,293<span></span></td>
        <td class="nump">106,500,085<span></span></td>
        <td class="nump">9,269,864<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">ENDING BALANCE (in shares) at Dec. 31, 2010</a></td>
        <td class="nump">34,735,912<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">34,735,912<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">ENDING BALANCE (in shares) at Dec. 31, 2010</a></td>
        <td class="nump">34,735,912<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">34,735,912<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease', window );">Translation adjustment</a></td>
        <td class="nump">12,493,402<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">12,493,402<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockSharesAcquired', window );">Common stock repurchased (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(184,599)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">184,599<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValueAcquiredCostMethod', window );">Common stock repurchased</a></td>
        <td class="num">(500,000)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(500,000)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Common stock issued for exercising stock options (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">9,430<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Common stock issued for exercising stock options</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(5)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued', window );">Issuance of warrants to non-employees</a></td>
        <td class="nump">452,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">452,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Issuance of stock options to employees</a></td>
        <td class="nump">7,029,400<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">7,029,400<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
        <td class="nump">30,952,760<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">30,952,760<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_TransferToRetainedEarningsAppropriatedForLegalReserve', window );">Transfer to statutory common reserve fund</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">4,138,264<span></span></td>
        <td class="num">(4,138,264)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">ENDING BALANCE at Dec. 31, 2011</a></td>
        <td class="nump">$ 243,112,756<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 17,373<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">$ (500,000)<span></span></td>
        <td class="nump">$ 74,107,979<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 14,409,557<span></span></td>
        <td class="nump">$ 133,314,581<span></span></td>
        <td class="nump">$ 21,763,266<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">ENDING BALANCE (in shares) at Dec. 31, 2011</a></td>
        <td class="nump">34,745,342<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">34,745,342<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">ENDING BALANCE (in shares) at Dec. 31, 2011</a></td>
        <td class="nump">34,560,743<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">34,560,743<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">184,599<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_AdjustmentToCommonStockIssuedShares">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Adjustment to common stock issued, shares</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_AdjustmentToCommonStockIssuedShares</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_Reclassification">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reclassifications</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_Reclassification</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_StockIssuedDuringPeriodSharesStockWarrantsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares issued during the period as a result of the exercise of warrants.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_StockIssuedDuringPeriodSharesStockWarrantsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_StockIssuedDuringPeriodValueStockWarrantsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value stock issued during the period as a result of the exercise of warrants.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_StockIssuedDuringPeriodValueStockWarrantsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_TransferToRetainedEarningsAppropriatedForLegalReserve">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Transfer to retained earnings appropriated for legal reserve</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_TransferToRetainedEarningsAppropriatedForLegalReserve</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 35<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415241&amp;loc=d3e4534-113899<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 20<br><br> -Section 55<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6576910&amp;loc=d3e11149-113907<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph 64<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph A91<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 20<br><br> -Section 55<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6576910&amp;loc=d3e11178-113907<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph 39<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Increase in additional paid in capital due to warrants issued during the period. Includes also the proceeds of debt securities issued with detachable stock purchase warrants that are allocable to the warrants. These warrants qualify for equity classification and provide the holder with a right to purchase stock from the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Warrant<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528364<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 31<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 20<br><br> -Section 25<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6923874&amp;loc=d3e4724-112606<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 14<br><br> -Paragraph 16<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e565-108580<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A7<br><br> -Appendix A<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 10, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 87-21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 19<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28, 29, 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity, net of tax.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 20<br><br> -Subparagraph (b),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920433&amp;loc=d3e998-108581<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 24<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 14, 17, 19, 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 52<br><br> -Paragraph 13, 20, 31<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A3<br><br> -Appendix A<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section E<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 4.E)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6228006&amp;loc=d3e74512-122707<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares of stock issued during the period pursuant to acquisitions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141<br><br> -Paragraph 53<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141<br><br> -Paragraph 51<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesAcquisitions</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of new stock issued during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesNewIssues</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of share options (or share units) exercised during the current period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueAcquisitions">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock issued pursuant to acquisitions during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueAcquisitions</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueNewIssues">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueNewIssues</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value stock issued during the period as a result of the exercise of stock options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockSharesAcquired">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares that have been repurchased during the period and are being held in treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockSharesAcquired</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockValueAcquiredCostMethod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405813&amp;loc=d3e23239-112655<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Chapter 1<br><br> -Section B<br><br> -Paragraph 7<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockValueAcquiredCostMethod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>52
<FILENAME>R10.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>PREPAID LAND LEASE<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock', window );">PREPAID LAND LEASE</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 4 &#x2013; PREPAID LAND LEASE</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company prepaid for land leases with lease terms for periods
ranging from one to fifty years to use the land on which the office
premises, production facilities and warehouses of the Company are
situated. The prepaid land lease is amortized on a straight line
basis.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
During the year ended December 31, 2011, amortization of prepaid
land lease totaled $424,467, which was recorded as cost of net
revenue. During the year ended December 31, 2010, amortization of
prepaid land lease totaled $104,940, of which $104,349 and $591
were recorded as cost of net revenue and administrative expenses,
respectively. During the year ended December 31, 2009, amortization
of prepaid land lease totaled $57,985, of which $57,398 and $587
were recorded as cost of net revenue and administrative expenses,
respectively.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company has the rights to use certain parcels of land located
in Shouguang, the PRC, through lease agreements signed with local
townships.&#xA0;&#xA0;Such parcels of land are collectively owned
by local townships and accordingly, the Company could not obtain
land use rights certificates on these parcels of
land.&#xA0;&#xA0;The parcels of land of which the Company could not
obtain land use rights certificates covers a total of
approximately&#xA0;101.52 square kilometers of aggregate carrying
value of $766,748 and&#xA0;approximately&#xA0;92.32 square
kilometers&#xA0;square meters of aggregate carrying value of
$743,275 as at December 31, 2011 and 2010, respectively.</p>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of Deferred Costs, Capitalized, Prepaid, and Other Assets [Text Block]</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_DisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>53
<FILENAME>R27.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>REVERSE STOCK SPLIT<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_gure_ReverseStockSplitDisclosureTextBlock', window );">REVERSE STOCK SPLIT</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 21 &#x2013; REVERSE STOCK SPLIT</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
A reverse stock split of the issued and outstanding shares of the
Company's common stock was effected on the basis of one share for
every four shares of common stock and was approved by the Board of
Directors and shareholders owning a majority of the outstanding
shares of the Company&#x2019;s common stock and became effective on
October 12, 2009. All shares and per share data (except par value)
have been adjusted to reflect the effect of the stock split for all
periods presented.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_gure_ReverseStockSplitDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reverse Stock Split Disclosure [Text Block]</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>gure_ReverseStockSplitDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>gure_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>54
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<FilingSummary xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema">
  <Version>2.4.0.6</Version>
  <ProcessingTime />
  <ReportFormat>Html</ReportFormat>
  <ContextCount>57</ContextCount>
  <ElementCount>153</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>11</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>3</UnitCount>
  <MyReports>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>101 - Document - Document and Entity Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/DocumentDocumentandEntityInformation</Role>
      <ShortName>Document and Entity Information</ShortName>
    </Report>
    <Report>
      <IsDefault>true</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R2.htm</HtmlFileName>
      <LongName>103 - Statement - CONSOLIDATED BALANCE SHEETS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassified</Role>
      <ShortName>CONSOLIDATED BALANCE SHEETS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R3.htm</HtmlFileName>
      <LongName>104 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical</Role>
      <ShortName>CONSOLIDATED BALANCE SHEETS (Parenthetical)</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R4.htm</HtmlFileName>
      <LongName>105 - Statement - CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfIncomeAlternative</Role>
      <ShortName>CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R5.htm</HtmlFileName>
      <LongName>106 - Statement - CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfShareholdersEquityAndOtherComprehensiveIncome</Role>
      <ShortName>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R6.htm</HtmlFileName>
      <LongName>107 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/StatementOfCashFlowsIndirect</Role>
      <ShortName>CONSOLIDATED STATEMENTS OF CASH FLOWS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R7.htm</HtmlFileName>
      <LongName>108 - Disclosure - NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock</Role>
      <ShortName>NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R8.htm</HtmlFileName>
      <LongName>109 - Disclosure - ASSETS ACQUISITIONS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLeasesOfLesseeDisclosureTextBlock</Role>
      <ShortName>ASSETS ACQUISITIONS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R9.htm</HtmlFileName>
      <LongName>110 - Disclosure - INVENTORIES</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsInventoryDisclosureTextBlock</Role>
      <ShortName>INVENTORIES</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R10.htm</HtmlFileName>
      <LongName>111 - Disclosure - PREPAID LAND LEASE</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfDeferredCostsCapitalizedPrepaidAndOtherAssetsTextBlock</Role>
      <ShortName>PREPAID LAND LEASE</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R11.htm</HtmlFileName>
      <LongName>112 - Disclosure - PROPERTY, PLANT AND EQUIPMENT, NET</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock</Role>
      <ShortName>PROPERTY, PLANT AND EQUIPMENT, NET</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R12.htm</HtmlFileName>
      <LongName>113 - Disclosure - PROPERTY, PLANT AND EQUIPMENT UNDER CAPITAL LEASES, NET</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCapitalLeasesInFinancialStatementsOfLesseeDisclosureTextBlock</Role>
      <ShortName>PROPERTY, PLANT AND EQUIPMENT UNDER CAPITAL LEASES, NET</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R13.htm</HtmlFileName>
      <LongName>114 - Disclosure - ACCOUNTS PAYABLE AND ACCRUED EXPENSE</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsAccountsPayableAndAccruedLiabilitiesDisclosureTextBlock</Role>
      <ShortName>ACCOUNTS PAYABLE AND ACCRUED EXPENSE</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R14.htm</HtmlFileName>
      <LongName>115 - Disclosure - DUE TO A RELATED PARTY AND RELATED PARTY TRANSACTIONS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock</Role>
      <ShortName>DUE TO A RELATED PARTY AND RELATED PARTY TRANSACTIONS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R15.htm</HtmlFileName>
      <LongName>116 - Disclosure - TAXES PAYABLE</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTaxDisclosureTextBlock</Role>
      <ShortName>TAXES PAYABLE</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R16.htm</HtmlFileName>
      <LongName>117 - Disclosure - CAPITAL LEASE OBLIGATIONS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDebtAndCapitalLeasesDisclosuresTextBlock</Role>
      <ShortName>CAPITAL LEASE OBLIGATIONS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R17.htm</HtmlFileName>
      <LongName>118 - Disclosure - RETAINED EARNINGS - APPROPRIATED</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsRetainedEarningsRestrictionsTextBlock</Role>
      <ShortName>RETAINED EARNINGS - APPROPRIATED</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R18.htm</HtmlFileName>
      <LongName>119 - Disclosure - COMMON STOCK</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock</Role>
      <ShortName>COMMON STOCK</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R19.htm</HtmlFileName>
      <LongName>120 - Disclosure - TREASURY STOCK</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsTreasuryStockTextBlock</Role>
      <ShortName>TREASURY STOCK</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R20.htm</HtmlFileName>
      <LongName>121 - Disclosure - STOCK-BASED COMPENSATION</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock</Role>
      <ShortName>STOCK-BASED COMPENSATION</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R21.htm</HtmlFileName>
      <LongName>122 - Disclosure - INCOME TAXES</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock</Role>
      <ShortName>INCOME TAXES</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R22.htm</HtmlFileName>
      <LongName>123 - Disclosure - BUSINESS SEGMENTS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock</Role>
      <ShortName>BUSINESS SEGMENTS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R23.htm</HtmlFileName>
      <LongName>124 - Disclosure - MAJOR SUPPLIERS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSignificantPurchaseAndSupplyCommitmentExcludingLongtermCommitmentTextBlock</Role>
      <ShortName>MAJOR SUPPLIERS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R24.htm</HtmlFileName>
      <LongName>125 - Disclosure - CUSTOMER CONCENTRATION</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsConcentrationRiskDisclosureTextBlock</Role>
      <ShortName>CUSTOMER CONCENTRATION</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R25.htm</HtmlFileName>
      <LongName>126 - Disclosure - FAIR VALUE OF FINANCIAL INSTRUMENTS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsFairValueDisclosuresTextBlock</Role>
      <ShortName>FAIR VALUE OF FINANCIAL INSTRUMENTS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R26.htm</HtmlFileName>
      <LongName>127 - Disclosure - RESEARCH AND DEVELOPMENT EXPENSES</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsResearchAndDevelopmentDisclosureTextBlock</Role>
      <ShortName>RESEARCH AND DEVELOPMENT EXPENSES</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R27.htm</HtmlFileName>
      <LongName>128 - Disclosure - REVERSE STOCK SPLIT</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsReverseStockSplitDisclosureTextBlock</Role>
      <ShortName>REVERSE STOCK SPLIT</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R28.htm</HtmlFileName>
      <LongName>129 - Disclosure - CAPITAL COMMITMENT AND OPERATING LEASE COMMITMENTS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCommitmentsDisclosureTextBlock</Role>
      <ShortName>CAPITAL COMMITMENT AND OPERATING LEASE COMMITMENTS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R29.htm</HtmlFileName>
      <LongName>130 - Disclosure - LEGAL PROCEEDINGS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsLegalMattersAndContingenciesTextBlock</Role>
      <ShortName>LEGAL PROCEEDINGS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R30.htm</HtmlFileName>
      <LongName>131 - Disclosure - SUBSEQUENT EVENTS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsSubsequentEventsTextBlock</Role>
      <ShortName>SUBSEQUENT EVENTS</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R31.htm</HtmlFileName>
      <LongName>132 - Disclosure - PARENT ONLY FINANCIAL INFORMATION</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.gulfresourcesinc.cn/taxonomy/role/NotesToFinancialStatementsCondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock</Role>
      <ShortName>PARENT ONLY FINANCIAL INFORMATION</ShortName>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <Logs>
    <Log type="Info">Process Flow-Through: 103 - Statement - CONSOLIDATED BALANCE SHEETS</Log>
    <Log type="Info">	Process Flow-Through: Removing column 'Dec. 31, 2009'</Log>
    <Log type="Info">	Process Flow-Through: Removing column 'Dec. 31, 2008'</Log>
    <Log type="Info">Process Flow-Through: 104 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical)</Log>
    <Log type="Info">Process Flow-Through: 105 - Statement - CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME</Log>
    <Log type="Info">Process Flow-Through: 107 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS</Log>
  </Logs>
  <InputFiles>
    <File>gure-20111231.xml</File>
    <File>gure-20111231.xsd</File>
    <File>gure-20111231_cal.xml</File>
    <File>gure-20111231_def.xml</File>
    <File>gure-20111231_lab.xml</File>
    <File>gure-20111231_pre.xml</File>
  </InputFiles>
  <SupplementalFiles />
  <BaseTaxonomies />
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>true</HasCalculationLinkbase>
</FilingSummary>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>55
<FILENAME>R20.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>STOCK-BASED COMPENSATION<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">STOCK-BASED COMPENSATION</a></td>
        <td class="text"><div>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
NOTE 14 &#x2013; STOCK-BASED COMPENSATION</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Pursuant to the Company&#x2019;s Amended and Restated 2007 Equity
Incentive Plan, the aggregate number shares of the Company&#x2019;s
common stock available for grant of stock options and issuance is
4,341,989 shares.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The fair value of each option award below is estimated on the date
of grant using the Black-Scholes option-pricing model. The risk
free rate is based on the yield-to-maturity in continuous
compounding of the US Government Bonds with the time-to-maturity
similar to the expected tenor of the option granted, volatility is
based on the annualized historical stock price volatility of the
Company, and the expected life is based on the expected tenor,
which has been taken into account of early exercise behavior of the
option holder.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The&#xA0;Company issued 25,000 warrants on August 1, 2008 at a
price of $4.80 per share as part of a consulting agreement with its
investor relations firm. These options fully vested on August 1,
2009. The warrants were valued at $65,000, fair value, with assumed
162% volatility, a four-year expiration term, a risk free rate of
3% and no dividend yield. The value of the warrants will be
expensed over one year, which is&#xA0;the term of the consulting
agreement. For the year ended December 31, 2009, $48,616 was
recognized as consulting expense.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In March 2009, the Company granted to 9 management
staff&#xA0;(including 4 directors of the Company) options to
purchase a total of 150,000 shares (25,000 for each of the
executive directors, and 12,500 each for one non-executive
independent director and 5 other management staff)&#xA0;of the
Company&#x2019;s common stock at an exercise price of $4.80 per
share and the options vested immediately. The options were valued
at $143,820 fair value, with assumed 174% volatility, a three-year
expiration term, a risk free rate of 1.43% and no dividend yield.
For the year ended December 31, 2009, $143,820 was recognized as
general and administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In May 2009, the Company granted to a director options to purchase
12,500 shares&#xA0;of the Company&#x2019;s common stock at an
exercise price of $4.80 per share and the options vested
immediately. The options were valued at $20,486 fair value, with
assumed 170% volatility, a three-year expiration term, a risk free
rate of 1.43% and no dividend yield. For the year ended December
31, 2009, $20,486 was recognized as general and administrative
expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In June 2009, the Company granted to a director options to purchase
25,000 shares&#xA0;of the Company&#x2019;s common stock at an
exercise price of $4.80 per share and the options vested
immediately. The options were valued at $39,534 fair value, with
assumed 167% volatility, a three-year expiration term, a risk free
rate of 1.43% and no dividend yield. For the year ended December
31, 2009, $39,534 was recognized as general and administrative
expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In October 2009, the Company granted to 2 management staff options
to purchase 37,500 shares&#xA0;of the Company&#x2019;s common stock
at an exercise price of $6.44 per share and the options vested
immediately. The options were valued at $219,656 fair value, with
assumed 161% volatility, a three-year expiration term, a risk free
rate of 1.43% and no dividend yield. For the year ended December
31, 2009, $219,656 was recognized as general and administrative
expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In October 2009, the Company granted to an independent director
options to purchase 12,500 shares&#xA0;of the Company&#x2019;s
common stock at an exercise price of $9.65 per share and the
options vested immediately. The options were valued at $90,648 fair
value, with assumed 160% volatility, a three-year expiration term,
a risk free rate of 1.43% and no dividend yield. For the year ended
December 31, 2009, $90,648 was recognized as general and
administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In November 2009, the Company granted to an independent director
options to purchase 12,500 shares&#xA0;of the Company&#x2019;s
common stock at an exercise price of $10.14 per share and the
options vested immediately. The options were valued at $92,315 fair
value, with assumed 152% volatility, a three-year expiration term,
a risk free rate of 1.43% and no dividend yield. For the year ended
December 31, 2009, $92,315 was recognized as general and
administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In December 2009, the Company granted to an investment bank
warrants to purchase 176,471 shares&#xA0;of the Company&#x2019;s
common stock at an exercise price of $10.2 per share and the
warrants vested immediately. The warrants were valued at $1,367,156
fair value, with assumed 156% volatility, a three-year expiration
term, a risk free rate of 1.43% and no dividend yield. For the year
ended December 31, 2009, $1,367,156 was recognized as general and
administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In February 2010, the Company granted to 8 management staff options
to purchase 132,500 shares&#xA0;of the Company&#x2019;s common stock
at an exercise price of $8.25 per share and the options vested
immediately. The options were valued at $995,539 fair value, with
assumed 154% volatility, a three-year expiration term with expected
tenor of 1.5 years, a risk free rate of 1.60% and no dividend
yield. For the year ended December 31, 2010, $995,539 was
recognized as general and administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In February 2010, the Company granted to the investor relations
firm warrants to purchase 25,000 shares&#xA0;of the Company&#x2019;s
common stock at an exercise price of $12 per share and the warrants
vested immediately. The warrants were valued at $193,428 fair
value, with assumed 155% volatility, a four-year expiration term, a
risk free rate of 1.60% and no dividend yield. For the year ended
December 31, 2010, $193,428 was recognized as general and
administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In November 2010, the Company granted to 2 independent directors
options to purchase 25,000 shares&#xA0;of the Company&#x2019;s
common stock at an exercise price of $10.43 per share and the
options vested immediately. The options were valued at $93,462 fair
value, with assumed 76% volatility, a three-year expiration term
with expected tenor of 1.5 years, a risk free rate of 0.30% and no
dividend yield. For the year ended December 31, 2010, $93,462 was
recognized as general and administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In February 2011, the Company granted to the investor relations
firm a warrant to purchase 50,000 shares of the Company&#x2019;s
common stock at an exercise price of $12.6 per share and the
warrants vested immediately. The warrant was valued at $452,000
fair value, with assumed 193.42% volatility, a five-year expiration
term, a risk free rate of 2.30% and no dividend yield. For the year
ended December 31, 2011, $452,000 was recognized as general and
administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In early March 2011, the Company granted to an independent director
an option to purchase 12,500 shares of the Company&#x2019;s common
stock at an exercise price of $9.16 per share and the options
vested immediately. The options were valued at $35,000 fair value,
with assumed 64.5% volatility, a three-year expiration term with
expected tenor of 1.49 years, a risk free rate of 0.46% and no
dividend yield. For the year ended December 31, 2011, $35,000 was
recognized as general and administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In late March 2011, the Company granted to 3 executive officers
options to purchase 1,200,000 shares of the Company&#x2019;s common
stock at an exercise price of $4.97 per share and the options are
exercisable in equal installments over periods of two years. The
options were valued at $4,317,000 fair value, with assumed 77.22%
to 94.36% volatility, a four-year expiration term with expected
tenors of 2 to 2.49 years, risk free rates of 0.81% to 1.05% and no
dividend yield. For the year ended December 31, 2011, $1,945,000
was recognized as general and administrative expenses.</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: center; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In late March 2011, the Company also granted to 18 management staff
options to purchase 654,000 shares of the Company&#x2019;s common
stock at an exercise price of $4.97 per share and the options are
exercisable in equal installments over periods of three years. The
options were valued at $2,632,000 fair value, with assumed 77.22%
to 118.84% volatility, a four-year expiration term with expected
tenors of 2 to 3 years, risk free rates of 0.81% to 1.29% and no
dividend yield. For the year ended December 31, 2011, $706,000 was
recognized as general and administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In early May 2011, the Company granted to an independent director
an option to purchase 12,500 shares of the Company&#x2019;s common
stock at an exercise price of $2.93 per share and the option vested
immediately. The option was valued at $15,800 fair value, with
assumed 79.91% volatility, a four-year expiration term with
expected tenor of 2 years, a risk free rate of 0.57% and no
dividend yield. For the year ended December 31, 2011, $15,800 was
recognized as general and administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In late June 2011, the Company granted to an independent director
an option to purchase 12,500 shares of the Company&#x2019;s common
stock at an exercise price of $3.10 per share and the option vested
immediately. The option was valued at $15,200 fair value, with
assumed 86.36% volatility, a three-year expiration term with
expected tenor of 1.49 years, a risk free rate of 0.32% and no
dividend yield. For the year ended December 31, 2011, $15,200 was
recognized as general and administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In late September 2011, the Company and certain management staff
and directors mutually agreed to cancel certain unexercised and all
non-vested stock options previously granted for an aggregate of
1,181,000 shares of the Company&#x2019;s common stock, having
exercise prices between $4.97 to $8.25 per share, without
consideration. In accordance with ASC 718-20-35-9, &#x201C;Awards
Classified as Equity &#x2014; Cancellation and Replacement&#x201D;,
the Company accelerated the remaining expense on these cancelled
awards that resulted in $4,298,000 recorded in general and
administrative expense for the year ended December 31, 2011.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
In November 2011, the Company granted to an independent director an
option to purchase 12,500 shares of the Company&#x2019;s common
stock at an exercise price of $2.41 per share and the option vested
immediately. The option was valued at $14,400 fair value, with
assumed 94.7% volatility, a three-year expiration term with
expected tenor of 1.5 years, a risk free rate of 0.16% and no
dividend yield. For the year ended December 31, 2011, $14,400 was
recognized as general and administrative expenses.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The following table summarizes all Company stock option
transactions between January 1, 2009 and December 31, 2011.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Number
of Option</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Number
of Option</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Number
of Option</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Range
of</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">and Warrants</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">and Warrants</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">and Warrants</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Exercise
Price per</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Outstanding</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Non-vested</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Vested</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Common Share</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in; WIDTH: 40%">
Balance, January 1, 2009</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">325,000</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">212,500</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">112,500</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">$0.84 - $10.04</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">
Granted during the year ended December 31, 2009</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">426,471</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">426,471</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">$4.80 - $10.20</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">Vested
during the year ended December 31, 2009</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(513,970</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">513,970</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">$4.80 - $10.20</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">
Forfeited or expired during the year ended December 31, 2009</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(250,000</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(125,001</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(124,999</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
$10.04&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">
Balance, December 31, 2009</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">501,471</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">501,471</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">$0.84 - $10.20</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">
Granted and vested during the year ended December 31, 2010</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">182,500</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">182,500</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">$8.25 - $12.00</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">
Exercised during the year ended December 31, 2010</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(225,000</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(225,000</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$1.44
- $8.20</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">
Balance, December 31, 2010</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">458,971</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">458,971</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">$0.84 - $12.00</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">
Granted during the year ended December 31, 2011</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,954,000</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,954,000</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">$2.41 - $12.60</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">Vested
during the year ended December 31, 2011</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(918,000</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">918,000</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">$2.41 - $12.60</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">
Exercised during the year ended December 31, 2011</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(12,500</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(12,500</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">
$0.84&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in">
Forfeited, canceled or expired during the year ended December 31,
2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(1,256,000</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(1,036,000</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(220,000</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">$4.80
- $10.43</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -0.1in; PADDING-LEFT: 0.1in; VERTICAL-ALIGN: middle">
Balance, December 31, 2011</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
1,144,471</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
1,144,471</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
$2.41 - $12.60</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="13">Stock and Warrants Options Outstanding</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Weighted Average</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center">Weighted Average</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
Outstanding</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
Remaining</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" nowrap="nowrap">Exercise Price
of</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">at
December 31,</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Range
of</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
Contractual Life</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" nowrap="nowrap">Options
Currently</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Exercise Prices</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">(Years)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center">
Outstanding</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 30%">Exercisable
and&#xA0;outstanding</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 15%">1,144,471</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 15%">2.41 - $12.60</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 15%">2.91</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">$&#xA0;</td>
<td style="TEXT-ALIGN: center; WIDTH: 15%">6.30</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The weighted average grant-date fair values as at December 31,
2011, 2010 and 2009 were $7.29, $8.83 and $6.84, respectively.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
At December 31, 2011 and 2010, the aggregate intrinsic value of the
stock options and warrants were $1,382,612 and $75,647,
respectively.</p>


</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5444-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 93-6<br><br> -Paragraph 53<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph 64, 65, A240<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 40<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6418621&amp;loc=d3e17540-113929<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 50<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6406099&amp;loc=d3e25284-112666<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
