<SEC-DOCUMENT>0001558370-21-004815.txt : 20210426
<SEC-HEADER>0001558370-21-004815.hdr.sgml : 20210426
<ACCEPTANCE-DATETIME>20210426172429
ACCESSION NUMBER:		0001558370-21-004815
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210421
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210426
DATE AS OF CHANGE:		20210426

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			XCel Brands, Inc.
		CENTRAL INDEX KEY:			0001083220
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				760307819
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37527
		FILM NUMBER:		21855061

	BUSINESS ADDRESS:	
		STREET 1:		1333 BROADWAY
		STREET 2:		10TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018
		BUSINESS PHONE:		(347) 727-2474

	MAIL ADDRESS:	
		STREET 1:		1333 BROADWAY
		STREET 2:		10TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10018

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NETFABRIC HOLDINGS, INC
		DATE OF NAME CHANGE:	20050516

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HOUSTON OPERATING CO
		DATE OF NAME CHANGE:	19990402
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tmb-20210421x8k.htm
<DESCRIPTION>8-K
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge  9.10.0.88--><!--Created on: 4/26/2021 09:24:21 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;padding-bottom:1pt;padding-top:1pt;border-bottom:1.0pt solid #000000;border-top:3.0pt solid #000000;margin:0pt 0pt 2pt 0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:7pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">UNITED STATES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">WASHINGTON, DC 20549</b></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:2pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><hr noshade="true" color="#000000" size="1.5" width="25.0%" style="background-color:#000000;color:#000000;height:1.5pt;position:relative;top:0.6em;border:none;margin:0 auto;" align="center"></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">FORM 8-K</b></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-top:0pt;min-height:1.19em;position:relative;width:100%;"><hr noshade="true" color="#000000" size="1.5" width="25.0%" style="background-color:#000000;color:#000000;height:1.5pt;position:relative;top:0.6em;border:none;margin:0 auto;" align="center"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:12pt;font-weight:bold;">CURRENT REPORT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Pursuant to Section&#160;13 or 15 (d)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt 0pt 6pt 0pt;"><b style="font-weight:bold;">of The Securities Exchange Act of 1934</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt 0pt 6pt 0pt;"><b 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As noted in the press release, the Registrant has provided certain non-U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) financial measures, the reasons it provided such measures and a reconciliation of the non-U.S. GAAP measures to U.S. GAAP measures.  Readers should consider non-GAAP measures in addition to, and not as a substitute for, measures of financial performance prepared in accordance with U.S. GAAP.  A copy of the Registrant&#8217;s press release is being furnished hereto as Exhibit 99.1 and is incorporated herein by reference.  </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:top;width:8.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Item&#160;9.01</b></p></td><td style="vertical-align:top;width:91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Financial Statements and Exhibits. </b></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:6pt;margin:0pt;">&#160;</p><div 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style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:bottom;width:85.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:top;width:10%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td></tr><tr><td style="vertical-align:top;white-space:nowrap;width:4.79%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">99.1</p></td><td style="vertical-align:bottom;width:85.2%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><a style="-sec-extract:exhibit;" href="tmb-20210421xex99d1.htm"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">Press Release of Xcel Brands, Inc. dated April 21, 2021.</font></a></p></td><td style="vertical-align:top;width:10%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">.</p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="display:none;font-size:12pt;line-height:0pt;margin:0pt;"><font 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style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:bottom;width:38.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:1pt;visibility:hidden;">&#8203;</font></p></div></div></td></tr><tr><td colspan="5" style="vertical-align:top;width:49.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">XCEL BRANDS, INC.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 1pt 0pt;">(Registrant)</p></td><td style="vertical-align:top;width:50.02%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="font-size:10pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></td></tr><tr style="height:18pt;"><td style="vertical-align:middle;width:3.55%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;">&#160;</p></td><td colspan="4" style="vertical-align:middle;width:46.42%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;">&#160;</p></td><td 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<!--Enhanced HTML document created with Toppan Merrill Bridge  9.10.0.88--><!--Created on: 4/26/2021 09:24:19 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Exhibit 99.1</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><img src="tmb-20210421xex99d1001.jpg" alt="Graphic" style="display:inline-block;height:52.5pt;width:108.56pt;"></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:11pt;font-weight:bold;text-decoration:underline;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:11pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">FOR IMMEDIATE RELEASE</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;text-decoration:underline;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">XCEL BRANDS, INC. ANNOUNCES </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">FOURTH QUARTER AND FISCAL YEAR 2020 RESULTS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;font-style:italic;font-weight:bold;visibility:hidden;">&#8203;</font></p><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:italic;font-weight:bold;text-align:left;">Fourth quarter net product sales of $2.6 million, rebounding 20% from the third quarter</font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:italic;font-weight:bold;text-align:left;">Fourth quarter net loss of $10.4 million, or ($0.54) per share, on a GAAP basis; net loss of $0.3 million, or ($0.02) per share, on a non-GAAP basis </font></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Times New Roman';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">&#9679;</td><td style="padding:0pt;"><font style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:11pt;font-style:italic;font-weight:bold;text-align:left;">Adjusted EBITDA of $0.2 million for the fourth quarter; $4.1 million for the fiscal year</font></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;">NEW YORK, NY (April 21, 2021) &#8211; Xcel Brands, Inc. </font><font style="background-color:#ffffff;font-size:11pt;">(NASDAQ: XELB)</font><font style="font-size:11pt;"> (&#8220;Xcel&#8221; or the &#8220;Company&#8221;), a media and consumer products company, today announced its financial results for the fourth quarter ended December 31, 2020. &#160; </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;">Robert W. 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The current quarter&#8217;s net loss is primarily attributable to a $13 million non-cash impairment charge related to the Judith Ripka Brand trademarks, driven by delays and uncertainty in implementing the brick-and-mortar retail store strategy for a portion of the brand, primarily as a result of the COVID-19 pandemic. After adjusting for certain cash and non-cash items, results on a non-GAAP basis were a net loss of approximately $0.3 million, or ($0.02) per diluted share for the quarter ended December 31, 2020, and net income of approximately $0.9 million, or $0.05 per diluted share, for the quarter ended December 31, 2019. 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Despite the decrease in revenues and gross profit on an absolute dollar basis, overall gross profit margins increased from 75% in the prior year to 81% in the current year, while gross profit margins from product sales increased from 33% in the prior year to 41% in the current year. As with the quarter&#8217;s results, the decrease in revenues was primarily attributable to the COVID-19 pandemic, which included government ordered stay-at-home policies and retail store closures during the second quarter, as well as the continued overall slowdown in economic activity related to the pandemic. Additionally, the decline in licensing revenues also reflected changes in certain of our existing licensing arrangements, including lower guaranteed minimum revenues upon renewal, and changes from guaranteed minimum amounts to sales-based royalties.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">1333 BROADWAY, 10</font><sup style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;vertical-align:top;">TH</sup><font style="font-family:'Arial','Helvetica','sans-serif';"> FLOOR &#8226; NEW YORK, NEW YORK &#8226; 10018</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">PHONE: 347-727-2474 &#8226; INFO@XCELBRANDS.COM</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;">Page </font><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;">2</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;">Net loss attributable to Xcel Brands &#160;was approximately $12.9 million, or ($0.68) per diluted share, compared with net loss of $3.4 million, or ($0.18) per diluted share, for the prior year. The current year net loss includes the previously mentioned $13 million impairment charge related to the Judith Ripka Trademarks. The prior year net loss notably included a $2.9 million gain on the reduction of contingent obligations, as well as a $6.2 million impairment charge. After adjusting for certain cash and non-cash items, non-GAAP net income for the year ended December 31, 2020 and 2019 was approximately $1.8 million, or $0.10 per diluted share, and approximately $4.8 million, or $0.25 per diluted share, respectively. Adjusted EBITDA was approximately $4.1 million and $7.1 million for the current year and prior year, respectively. &#160; &#160; &#160;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;">See reconciliation tables below for non-GAAP metrics. These non-GAAP metrics may be inconsistent with similar measures presented by other companies and should only be used in conjunction with our results reported according to U.S. generally accepted accounting principles. Any financial measure other than those prepared in accordance with GAAP should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;">The Company&#39;s balance sheet at December 31, 2020 remained strong, with stockholders&#39; equity of approximately $95 million, cash and cash equivalents of approximately $5.0 million, and working capital</font><a name="_Hlk529283611"></a><font style="font-size:11pt;">, </font><font style="font-size:11pt;">exclusive of the current portion of lease obligations, of approximately $7.9 million. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">Conference Call and Webcast</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;">The Company will host a conference call with members of the executive management team to discuss these results with additional comments and details at 5:00 p.m. Eastern Time on Wednesday, April 21, 2021. A webcast of the conference call will be available live on the Investor Relations section of Xcel&#39;s website at www.xcelbrands.com. Interested parties unable to access the conference call via the webcast may dial 1-877-407-3982. A replay of the conference call will be available on the Company website for 30 days following the event and can be accessed at 844-512-2921 using replay pin number 13719186. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">About Xcel Brands</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;">Xcel Brands, Inc. (NASDAQ:XELB) is a media and consumer products company engaged in the design, production, marketing, wholesale, and direct-to-consumer sales of branded apparel, footwear, accessories, jewelry, home goods and other consumer products, and the acquisition of dynamic consumer lifestyle brands. </font><a name="_Hlk68882263"></a><font style="font-size:11pt;">The company&#8217;s brands have generated in excess of $3BB US in retail sales through live streaming on TV</font><font style="font-size:11pt;">. Xcel was founded by Robert W. D&#39;Loren in 2011 with a vision to reimagine shopping, entertainment, and social media as one. Xcel owns the Isaac Mizrahi, Judith Ripka, Halston, LOGO Lori Goldstein and C. Wonder brands, and it owns and manages the Longaberger brand through its controlling interest in Longaberger Licensing LLC, pioneering a ubiquitous sales strategy which includes the promotion and sale of products under its brands through interactive television, brick-and-mortar retail, e-commerce and peer to peer channels. Headquartered in New York City, Xcel Brands is led by an executive team with significant livestream production, merchandising, design, production, marketing, retailing, and licensing experience, and a proven track record of success in elevating branded consumer products companies. With an experienced team of professionals focused on design, production, and digital marketing, Xcel maintains control of product quality and promotion across all of its product categories and distribution channels. Xcel differentiates by design. www.xcelbrands.com</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:18pt 0pt 0pt 0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">1333 BROADWAY, 10</font><sup style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;vertical-align:top;">TH</sup><font style="font-family:'Arial','Helvetica','sans-serif';"> FLOOR &#8226; NEW YORK, NEW YORK &#8226; 10018</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">PHONE: 347-727-2474 &#8226; INFO@XCELBRANDS.COM</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;">Page </font><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;">3</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">Forward Looking Statements</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;">This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release, including statements regarding future events, our future financial performance, business strategy and plans and objectives of management for future operations, are forward-looking statements. We have attempted to identify forward-looking statements by terminology including &quot;anticipates,&quot; &quot;believes,&quot; &quot;can,&quot; &quot;continue,&quot; &quot;ongoing,&quot; &quot;could,&quot; &quot;estimates,&quot; &quot;expects,&quot; &quot;intends,&quot; &quot;may,&quot; &quot;appears,&quot; &quot;suggests,&quot; &quot;future,&quot; &quot;likely,&quot; &quot;goal,&quot; &quot;plans,&quot; &quot;potential,&quot; &quot;projects,&quot; &quot;predicts,&quot; &quot;seeks,&quot; &quot;should,&quot; &quot;would,&quot; &quot;guidance,&quot; &quot;confident&quot; or &quot;will&quot; or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements regarding our anticipated revenue, expenses, profitability, strategic plans and capital needs. These statements are based on information available to us on the date hereof and our current expectations, estimates and projections and are not guarantees of future performance. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors, including, without limitation, the risks discussed in the &quot;Risk Factors&quot; section and elsewhere in the Company&#39;s Annual Report on form 10-K for the year ended December 31, 2020 and its other filings with the SEC, which may cause our or our industry&#39;s actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time and it is not possible for us to predict all risk factors, nor can we address the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained in any forward-looking statements. You should not place undue reliance on any forward-looking statements. Except as expressly required by the federal securities laws, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-size:11pt;font-weight:bold;">For further information please contact:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;">Andrew Berger</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;">SM Berger &amp; Company, Inc. </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;">216-464-6400</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;">andrew@smberger.com </font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:18pt 0pt 0pt 0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">1333 BROADWAY, 10</font><sup style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;vertical-align:top;">TH</sup><font style="font-family:'Arial','Helvetica','sans-serif';"> FLOOR &#8226; NEW YORK, NEW YORK &#8226; 10018</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">PHONE: 347-727-2474 &#8226; INFO@XCELBRANDS.COM</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;">Page </font><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;">4</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">Xcel Brands, Inc. and Subsidiaries</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">Unaudited Condensed Consolidated Balance Sheets</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">(in thousands, except share and per share data)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;"><font style="font-size:8.5pt;font-weight:bold;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:1.73%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:15.19%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:12.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td></tr><tr><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td 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style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">$</font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:12.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">4,641</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New 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style="background-color:#ffffff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:12.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font 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style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">899</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Prepaid expenses and other current assets</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.73%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font 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0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:12.84%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">1,404</font></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">Total current assets</font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:1.73%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:15.19%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">16,147 </font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:1.9%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:12.84%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">17,566 </font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Property and equipment, net</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.73%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:15.19%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">3,367</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:12.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">3,666</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New 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style="background-color:#ccecff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:12.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">9,250</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Trademarks and other intangibles, net</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.73%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:15.19%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">93,535</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:12.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">111,095</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Restricted cash</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.73%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:15.19%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">1,109</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font 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0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:15.19%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">228</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td 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style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:12.84%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">125,625 </font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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style="background-color:#ffffff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">$</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:12.84%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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style="background-color:#ccecff;vertical-align:middle;width:15.19%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font 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style="background-color:#ccecff;vertical-align:middle;width:1.73%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:15.19%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font 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style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">1,752</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Current portion of long-term debt</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.73%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:15.19%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">2,800 </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:12.84%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">2,250 </font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">Total current liabilities</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.73%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:15.19%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">10,316</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:12.84%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">9,837 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">Long-Term Liabilities:</b></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.73%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:15.19%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:12.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Long-term portion of operating lease obligation</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.73%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:15.19%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">8,469</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:12.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font 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style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">13,838</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:12.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">16,571</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Contingent obligation</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.73%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:15.19%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">900</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:12.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">900</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Deferred tax liabilities, net</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.73%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:15.19%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">3,052</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:12.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">7,434</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Other long-term liabilities</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.73%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:15.19%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">224</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:12.84%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">224</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:62.18%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">Total long-term liabilities</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.72%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.73%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:15.19%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">26,483</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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style="background-color:#ccecff;vertical-align:middle;width:1.73%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:15.19%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">102,324</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font 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style="font-size:8.5pt;font-weight:bold;">$</b></p></td><td style="background-color:#ccecff;vertical-align:middle;width:12.84%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">143,191</b></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">&#160;</p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:18pt 0pt 0pt 0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">1333 BROADWAY, 10</font><sup style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;vertical-align:top;">TH</sup><font style="font-family:'Arial','Helvetica','sans-serif';"> FLOOR &#8226; NEW YORK, NEW YORK &#8226; 10018</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">PHONE: 347-727-2474 &#8226; INFO@XCELBRANDS.COM</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;">Page </font><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;">5</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">Xcel Brands, Inc. and Subsidiaries</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">Unaudited Condensed Consolidated Statements of Operations</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">(in thousands, except share and per share data)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><font style="font-size:8.5pt;visibility:hidden;">&#8203;</font></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;table-layout:auto;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td></tr><tr><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td colspan="5" style="background-color:#ffffff;vertical-align:middle;width:21.08%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">For the Three Months Ended</b></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td colspan="5" 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style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">December 31,</b></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td colspan="5" style="background-color:#ffffff;vertical-align:middle;width:21.09%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">December 31,</b></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:9.8%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">2020</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">2019</b></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">2020</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">2019</b></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">Revenues</b></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">Net licensing revenue</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">$</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">4,877</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">$</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">         5,341 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">$</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">20,255</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">$</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">       26,435 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">Net sales</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.63%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">2,603</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">         6,015 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">9,193</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">       15,292 </font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">   Net revenue</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">7,480</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">       11,356 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">29,448</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">       41,727 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">Cost of goods sold (sales)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.63%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">1,533</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">         3,723 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">5,456</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">       10,272 </font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">     Gross profit</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font 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style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Salaries, benefits and employment taxes</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td 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style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">            812 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">         3,334 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">         3,164 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Other selling, general and administrative expenses</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">1,540</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">         1,538 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">6,567</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">         5,552 </font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Costs (recovery of costs) in connection with potential acquisition</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">850</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">            976 </font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Depreciation and amortization</font></p></td><td 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style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">            963 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">5,497</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font 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style="background-color:#ccecff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">0 </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">&#8212;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">(1,816)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">               -   </font></p></td></tr><tr><td style="vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Asset impairments</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">13,000</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">         6,200 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">13,113</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">         6,200 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Total operating costs and expenses</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.63%;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">20,351</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">       14,567 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">40,448</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid 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style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">Other income</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.63%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">&#8212;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">&#8212;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">46</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">         2,850 </font></p></td></tr><tr><td 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Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Operating loss </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.63%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">      (14,404)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">        (6,934)</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">      (16,410)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 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style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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style="background-color:#ffffff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">            296 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">            296 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">            317 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">         1,193 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 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style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td></tr><tr><td style="vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">        (7,251)</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">      (17,603)</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">        (4,087)</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td></tr><tr><td style="vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">Income tax benefit</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">        (4,249)</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">        (1,922)</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">        (4,518)</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">           (642)</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td></tr><tr><td style="vertical-align:middle;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">Net loss</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;white-space:pre-wrap;">      (10,451)</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;white-space:pre-wrap;">        (5,329)</b></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;white-space:pre-wrap;">      (13,085)</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;white-space:pre-wrap;">        (3,445)</b></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:8.5pt;margin:0pt;"><font style="font-size:8.5pt;">Less: Net loss attributable to noncontrolling interest</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">             (54)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">             (19)</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">           (149)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;white-space:pre-wrap;">             (19)</font></p></td></tr><tr><td style="vertical-align:middle;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">Net loss attributable to Xcel Brands, Inc. stockholders</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;border-bottom:2.25pt double #000000;border-top:1px solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">$</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;border-top:1px solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;white-space:pre-wrap;">      (10,397)</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:2.25pt double #000000;border-top:1px solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;white-space:pre-wrap;"> $ </b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;border-top:1px solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;white-space:pre-wrap;">        (5,310)</b></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:2.25pt double #000000;border-top:1px solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">$</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;border-top:1px solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;white-space:pre-wrap;">      (12,936)</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;">&#160;</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:2.25pt double #000000;border-top:1px solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;white-space:pre-wrap;"> $ </b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;border-top:1px solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><b style="font-size:8.5pt;font-weight:bold;white-space:pre-wrap;">        (3,426)</b></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">Loss per share attributed to Xcel Brands, Inc. common stockholders:</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">Basic net loss per share:</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.63%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">(0.54)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">(0.28)</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">(0.68)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.64%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">(0.18)</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;white-space:normal;width:52.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">Diluted net loss per share:</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:3.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.63%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">$</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">(0.54)</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">$</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">(0.28)</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:normal;width:1.99%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">$</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">(0.68)</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td 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style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:17pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.63%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:8.16%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:bottom;white-space:normal;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td 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style="font-family:'Calibri','Helvetica','sans-serif';font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">19,117,460</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.46%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.64%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-size:8.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:8.16%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="font-size:8.5pt;">18,857,657</font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:18pt 0pt 0pt 0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">1333 BROADWAY, 10</font><sup style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;vertical-align:top;">TH</sup><font style="font-family:'Arial','Helvetica','sans-serif';"> FLOOR &#8226; NEW YORK, NEW YORK &#8226; 10018</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">PHONE: 347-727-2474 &#8226; INFO@XCELBRANDS.COM</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;">Page </font><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;">6</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Xcel Brands, Inc. and Subsidiaries</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Unaudited Condensed Consolidated Statements of Cash Flows</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 6pt 0pt;"><b style="font-weight:bold;">(in thousands)</b></p><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:50%;transform:translate(0,-50%);width:100%;"></div></div></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div 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style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">&#160;</b></p></td><td colspan="5" style="background-color:#ffffff;vertical-align:middle;width:26.37%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:center;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">December 31,</b></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;white-space:nowrap;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;white-space:nowrap;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;white-space:nowrap;width:12.06%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:center;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">2020</b></p></td><td style="background-color:#ffffff;vertical-align:middle;white-space:nowrap;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;white-space:nowrap;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;white-space:nowrap;width:12.06%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:center;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">2019</b></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">Cash flows from operating activities</b></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Net loss</font></p></td><td 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style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">        (3,445)</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times 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style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font 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style="background-color:#ffffff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Amortization of note discount</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">              16 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Allowance for doubtful accounts</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         1,042 </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">             (50)</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Loss on extinguishment of debt</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#8212;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">            189 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Deferred income tax benefit</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">        (4,382)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">           (705)</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New 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style="font-size:7.5pt;">&#160;</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Gain on reduction of contingent obligation</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#8212;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">        (2,850)</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">Changes in operating assets and liabilities:</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Accounts receivable</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">            691 </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">            438 </font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Inventory</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">           (317)</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         1,089 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Prepaid expenses and other assets</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">            597 </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">             (59)</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Accounts payable, accrued expenses and other current liabilities</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">           (496)</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">        (1,720)</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Cash paid in excess of rent expense</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times 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style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">           (431)</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">      Other liabilities</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#8212;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">           (196)</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">Net cash provided by operating activities</b></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         3,185 </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         3,500 </font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">Cash flows from investing activities</b></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times 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style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td></tr><tr><td style="background-color:#ffffff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Cash consideration for asset acquisition of the Halston Heritage 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style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">        (8,830)</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Investment in Longaberger Licensing, LLC</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#8212;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">           (375)</font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Net proceeds from sale of assets</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">              46 </font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#8212;</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Purchase of property and equipment</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">           (748)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">        (1,133)</font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">Net cash used in 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0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">      (10,338)</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">Cash flows from financing activities</b></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Shares repurchased including vested restricted stock in exchange for withholding taxes</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">           (190)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">           (174)</font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Cash contribution from non-controlling interest</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">            300 </font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Payment of deferred finance costs</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">             (27)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">           (315)</font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Proceeds from long-term debt</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#8212;</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         7,500 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Payment of long-term debt</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">        (2,250)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">        (4,742)</font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">Net cash (used in) provided by financing activities</b></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">        (2,167)</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         2,269 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">Net increase (decrease) in cash, cash equivalents, and restricted cash</b></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">            316 </font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">        (4,569)</font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">Cash, cash equivalents, and restricted cash at beginning of period</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         5,750 </font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">       10,319 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">Cash, cash equivalents, and restricted cash at end of period</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         6,066 </font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         5,750 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">Reconciliation to amounts on consolidated balance sheets:</b></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Cash and cash equivalents</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         4,957 </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         4,641 </font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 13.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:15pt;margin:0pt;"><font style="font-size:7.5pt;">Restricted cash</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         1,109 </font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         1,109 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:7.5pt;margin:0pt;"><font style="font-size:7.5pt;">Total cash, cash equivalents, and restricted cash</font></p></td><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         6,066 </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">$  </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         5,750 </font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">Supplemental disclosure of non-cash activities:</b></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:7.5pt;margin:0pt;"><font style="font-size:7.5pt;">Operating lease right-of-use asset</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">            797 </font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt 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Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">$  </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">            797 </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">       13,210 </font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:7.5pt;margin:0pt;"><font style="font-size:7.5pt;">Accrued rent offset to operating lease right-of-use assets</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#8212;</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         2,801 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:7.5pt;margin:0pt;"><font style="font-size:7.5pt;">Settlement of seller note through offset to receivable</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$ </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#8212;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">            600 </font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:7.5pt;margin:0pt;"><font style="font-size:7.5pt;">Settlement of contingent obligation through offset to note receivable</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$ </font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">            100 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:7.5pt;margin:0pt;"><font style="font-size:7.5pt;">Issuance of common stock in connection with Halston Heritage assets acquisition</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#8212;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         1,058 </font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:7.5pt;margin:0pt;"><font style="font-size:7.5pt;">Contingent obligation related to acquisition of Halston Heritage assets at fair value</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#8212;</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">            900 </font></p></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 6.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-indent:7.5pt;margin:0pt;"><font style="font-size:7.5pt;">Liability for equity-based bonuses</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">              71 </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double 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0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td></tr><tr><td style="background-color:#ccecff;vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><b style="font-size:7.5pt;font-weight:bold;">Supplemental disclosure of cash flow information:</b></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td></tr><tr><td style="vertical-align:middle;width:69.12%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;&#160;Cash paid during the period for income taxes</font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">              58 </font></p></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"></td><td style="vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="vertical-align:middle;width:9.81%;border-bottom:2.25pt double 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Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         1,128 </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:2.25%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:2.25%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;margin:0pt;"><font style="font-size:7.5pt;">$</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.81%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:7pt;text-align:right;margin:0pt;"><font style="font-size:7.5pt;white-space:pre-wrap;">         1,176 </font></p></td></tr></table></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:18pt 0pt 0pt 0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">1333 BROADWAY, 10</font><sup style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;vertical-align:top;">TH</sup><font style="font-family:'Arial','Helvetica','sans-serif';"> FLOOR &#8226; NEW YORK, NEW YORK &#8226; 10018</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">PHONE: 347-727-2474 &#8226; INFO@XCELBRANDS.COM</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-bottom:30pt;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:always;width:88.24%;border-width:0;"><div style="max-width:100%;padding-left:5.88%;padding-right:5.88%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;">Page </font><font style="font-family:'Arial','Helvetica','sans-serif';font-size:11pt;">7</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><div align="left"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td rowspan="4" style="background-color:#ffffff;vertical-align:middle;white-space:nowrap;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">($ in thousands)</b></p></td><td colspan="5" style="background-color:#ffffff;vertical-align:middle;width:24.61%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Three Months Ended</b></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td colspan="5" style="background-color:#ffffff;vertical-align:middle;width:24.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Twelve Months Ended</b></p></td></tr><tr style="height:1pt;"><td style="display:none;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0pt 0pt 0pt;"></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p 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style="background-color:#ffffff;vertical-align:middle;width:11.36%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">December 31,</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">&#160;</b></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">December 31,</b></p></td></tr><tr style="height:1pt;"><td style="display:none;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0pt 0pt 0pt;"></td><td colspan="2" 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0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2020</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2019</b></p></td></tr><tr style="height:1pt;"><td style="display:none;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0pt 0pt 0pt;"></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(Unaudited)</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(Unaudited)</b></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">(Unaudited)</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td colspan="2" 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style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#cceeff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="white-space:pre-wrap;"> $ </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">          (12,936)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="white-space:pre-wrap;"> $ </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">            (3,426)</font></p></td></tr><tr style="height:1pt;"><td style="background-color:#ffffff;vertical-align:middle;white-space:nowrap;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">Amortization of trademarks</p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">             1,109 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                796 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">             4,432 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">             3,105 </font></p></td></tr><tr style="height:1pt;"><td 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Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 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0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                 (46)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 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</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">            (2,850)</font></p></td></tr><tr style="height:1pt;"><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Deferred income tax benefit</p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.84%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.49%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">            (4,113)</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.86%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p 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style="background-color:#ffffff;vertical-align:middle;white-space:nowrap;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">Non-GAAP net income</p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.84%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="white-space:pre-wrap;"> $ </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.49%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">               (279)</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times 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style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="white-space:pre-wrap;"> $ </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">             1,844 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="white-space:pre-wrap;"> $ </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">             4,795 </font></p></td></tr><tr style="height:1pt;"><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:1.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 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style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td></tr><tr style="height:1pt;"><td rowspan="4" style="background-color:#ffffff;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td colspan="5" style="background-color:#ffffff;vertical-align:middle;width:24.61%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Three Months Ended</b></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td colspan="5" style="background-color:#ffffff;vertical-align:middle;width:24.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Twelve Months Ended</b></p></td></tr><tr style="height:1pt;"><td style="display:none;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0pt 0pt 0pt;"></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">December 31,</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">&#160;</b></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">December 31,</b></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">December 31,</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">&#160;</b></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">December 31,</b></p></td></tr><tr style="height:1pt;"><td style="display:none;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0pt 0pt 0pt;"></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.33%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2020</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2019</b></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;border-bottom:1.0pt solid 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Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="white-space:pre-wrap;"> $ </font></p></td><td style="background-color:#ccecff;vertical-align:bottom;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">              (0.18)</font></p></td></tr><tr style="height:1pt;"><td style="background-color:#ffffff;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">Amortization of trademarks</p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p 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style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">               0.23 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td></tr><tr style="height:1pt;"><td style="background-color:#ffffff;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">Stock-based compensation</p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">               0.01 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">               0.04 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">               0.05 </font></p></td></tr><tr style="height:1pt;"><td style="background-color:#ccecff;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">Loss on extinguishment of debt</p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">               0.01 </font></p></td></tr><tr style="height:1pt;"><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Costs (recovery of costs) in connection with potential acquisition</p></td><td style="background-color:#ffffff;vertical-align:bottom;width:1.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:bottom;width:9.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:bottom;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">               0.05 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:bottom;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">              (0.01)</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">               0.67 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p 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style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 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style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p 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Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="white-space:pre-wrap;"> $ </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">               0.10 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="white-space:pre-wrap;"> $ </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">               0.25 </font></p></td></tr><tr style="height:1pt;"><td style="background-color:#ccecff;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">Non-GAAP weighted average diluted shares</p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.84%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.49%;border-bottom:2.25pt double #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p 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style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td></tr><tr style="height:1pt;"><td rowspan="4" style="background-color:#ffffff;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">($ in thousands)</b></p></td><td colspan="5" style="background-color:#ffffff;vertical-align:middle;width:24.61%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Three Months Ended</b></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td colspan="5" style="background-color:#ffffff;vertical-align:middle;width:24.64%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Twelve Months Ended</b></p></td></tr><tr style="height:1pt;"><td style="display:none;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0pt 0pt 0pt;"></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.33%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">December 31,</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">&#160;</b></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">December 31,</b></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">December 31,</b></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">&#160;</b></p></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.36%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">December 31,</b></p></td></tr><tr style="height:1pt;"><td style="display:none;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0pt 0pt 0pt;"></td><td colspan="2" style="background-color:#ffffff;vertical-align:middle;width:11.33%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2020</b></p></td><td 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style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">             5,497 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                197 </font></p></td></tr><tr style="height:1pt;"><td style="background-color:#ffffff;vertical-align:middle;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">Stock-based compensation</p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                  70 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                199 </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                850 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New 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style="background-color:#ffffff;vertical-align:middle;white-space:nowrap;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:justify;margin:0pt;">Certain adjustments to allowance for doubtful accounts</p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td><td style="background-color:#ffffff;vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Calibri','Helvetica','sans-serif';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                971 </font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.9%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><font style="font-family:'Courier New';">&#160;</font></p></td><td style="background-color:#ffffff;vertical-align:middle;width:1.86%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ffffff;vertical-align:middle;width:9.5%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font style="white-space:pre-wrap;">                   -   </font></p></td></tr><tr style="height:1pt;"><td style="background-color:#ccecff;vertical-align:middle;white-space:nowrap;width:48.51%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">Asset impairments</p></td><td style="background-color:#ccecff;vertical-align:middle;width:1.84%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">&#160;</p></td><td style="background-color:#ccecff;vertical-align:middle;width:9.49%;margin:0pt;padding:0.75pt 0.75pt 0pt 0.75pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt;"><font 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Such treatment is also consistent with the calculation of EBITDA for financial covenant compliance purposes under the Company&#8217;s term debt.</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;visibility:hidden;">&#8203;</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><font style="font-size:11pt;">Adjusted EBITDA is the measure used to calculate compliance with the EBITDA covenant under the Xcel Term Loan. Non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA should not be considered in isolation or as alternatives to net income, earnings per share, or any other measure of financial performance calculated and presented in accordance with GAAP. Given that non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA are financial measures not deemed to be in accordance with GAAP and are susceptible to varying calculations, our non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA may not be comparable to similarly titled measures of other companies, including companies in our industry, because other companies may calculate these measures in a different manner than we do. In evaluating non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA, you should be aware that in the future we may or may not incur expenses similar to some of the adjustments in this document. Our presentation of non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA does not imply that our future results will be unaffected by these expenses or any unusual or non-recurring items. When evaluating our performance, you should consider non-GAAP net income, non-GAAP diluted EPS, and Adjusted EBITDA alongside other financial performance measures, including our net income and other GAAP results, and not rely on any single financial measure.</font></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:18pt 0pt 0pt 0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">1333 BROADWAY, 10</font><sup style="font-family:'Arial','Helvetica','sans-serif';font-size:6pt;vertical-align:top;">TH</sup><font style="font-family:'Arial','Helvetica','sans-serif';"> FLOOR &#8226; NEW YORK, NEW YORK &#8226; 10018</font></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><font style="font-family:'Arial','Helvetica','sans-serif';">PHONE: 347-727-2474 &#8226; INFO@XCELBRANDS.COM</font></p></div></div><hr style="background-color:#000000;clear:both;color:#000000;height:2pt;line-height:0;margin-left:5.88%;margin-right:5.88%;margin-top:30pt;page-break-after:avoid;width:88.24%;border-width:0;"></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
