-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KGkqe9r2DPDIyYYaqbRxVUs2osGvC4plLNQpYK6e2C3rIYw3zNRhjDfOTYjw5Bpl
 v0GDh9Yzf23b8w4Qlg14iA==

<SEC-DOCUMENT>0001144204-09-063634.txt : 20091208
<SEC-HEADER>0001144204-09-063634.hdr.sgml : 20091208
<ACCEPTANCE-DATETIME>20091208152342
ACCESSION NUMBER:		0001144204-09-063634
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20091203
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20091208
DATE AS OF CHANGE:		20091208

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA RECYCLING ENERGY CORP
		CENTRAL INDEX KEY:			0000721693
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				900093373
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12536
		FILM NUMBER:		091228671

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 909, TOWER B, CHANG AN INTL BLDG
		STREET 2:		NO. 88 NAN GUAN ZHENG XIE
		CITY:			XI AN CITY, SHAN XI PROVINCE
		STATE:			F4
		ZIP:			710068
		BUSINESS PHONE:		86-29-8765-1096

	MAIL ADDRESS:	
		STREET 1:		SUITE 909, TOWER B, CHANG AN INTL BLDG
		STREET 2:		NO. 88 NAN GUAN ZHENG XIE
		CITY:			XI AN CITY, SHAN XI PROVINCE
		STATE:			F4
		ZIP:			710068

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHINA DIGITAL WIRELESS INC
		DATE OF NAME CHANGE:	20040810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BOULDER ACQUISITIONS  INC
		DATE OF NAME CHANGE:	20020430

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BOULDER BREWING CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v168498_8k.htm
<TEXT>
<html>
  <head>
    <title>Unassociated Document</title>
    <!--Licensed to: Vintage Filings-->
    <!--Document Created using EDGARizer 4.0.6.1-->
    <!--Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved-->
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">UNITED
STATES</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt">SECURITIES AND EXCHANGE
COMMISSION</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
DC 20549</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">FORM
8-K</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
REPORT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to Section&#160;13 or 15(d) of The Securities Exchange Act of 1934</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
of Report (Date of earliest event reported):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">December 3, 2009</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt">CHINA RECYCLING ENERGY
CORPORATION</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
name of registrant as specified in its charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Nevada</font></div>
            </td>
            <td align="left" valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">000-12536</font></div>
            </td>
            <td align="left" valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">90-0093373</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(State
      or other jurisdiction of incorporation)</font></div>
            </td>
            <td align="left" valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(Commission
      File Number)</font></div>
            </td>
            <td align="left" valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="24%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">(IRS
      Employer Identification No.)</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Suite
909, Tower B</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chang An
International Building</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">No. 88
Nan Guan Zheng Jie</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Xi An
City, Shan Xi Province</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">China
710068</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;(Address
of principal executive offices, including zip code)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(86-29)
8769-1097</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Registrant&#8217;s
telephone number, including area code)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
Applicable</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
name or former address, if changed since last report.)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings 2, serif">&#163;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings 2, serif">&#163;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings 2, serif">&#163;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings 2, serif">&#163;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
1.01.<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Entry into a Material
Definitive Agreement</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 8, 2009, China Recycling Energy Corporation (the &#8220;Company&#8221;) issued a
press release, attached hereto as Exhibit 99.1, announcing the formation of the
Low Carbon Fortune-Energy Recycling No. 1 Collective Capital Trust Plan (&#8220;Plan&#8221;)
by Beijing International Trust Co., Ltd. (&#8220;Beijing Trust&#8221;) on December 3, 2009.
Under the Plan, Beijing Trust raised 181,880,000 yuan (approximately US$ 26.75
million) through the sale of 181,880,000 total trust units sold at 1 yuan per
unit.&#160;&#160;All amounts raised under the Plan are to be loaned to Erdos TCH
Energy Saving Development Co., Ltd (&#8220;Erdos TCH&#8221;), a&#160;&#160;joint venture
between Xi&#8217;an TCH Energy Technology Co., Ltd. (&#8220;Xi&#8217;an TCH&#8221;), a subsidiary of the
Company and Erdos Metallurgy Co., Ltd, , in connection with its power generation
projects described below.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Based
upon the Capital Trust Loan Agreement (the &#8220;Agreement&#8221;) entered into by Erdos
TCH Energy Saving Development Co., Ltd and Beijing International Trust Co., Ltd.
on November 19, 2009, which became effective only upon the establishment of the
Plan, Beijing Trust will lend the money to Erdos TCH for its waste heat power
generation project phase II, phase III construction and operation,&#160;through
which Erdos TCH&#160;will&#160;recycle heat from groups of furnaces of Erdos
Metallurgy Co., Ltd.'s metal refining plants to generate power and steam, which
will then be sold back to Erdos Metallurgy Co., Ltd. (&#8220;Erdos
Metallurgy&#8221;).</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Plan
includes 145,500,000 category A preferred trust units (approximately US$ 21.4
million) (category A1 preferred trust 12,450,000 units (approximately US$ 1.8
million), category A2 preferred trust 15,000,000 units (approximately US$ 2.2
million), category A3 preferred trust 118,050,000 units (approximately US$ 17.4
million)); and 36,380,000 category B secondary trust units (approximately US$
5.35 million) (category B1 secondary trust 9,100,000 units, approximately US$
1.34 million and category B2 secondary trust&#160;&#160;27,280,000 units,
approximately US$ 4.01 million). The B1 units have been purchased by members of
management of Erdos TCH and the B2 units have been purchased by Xi&#8217;an
TCH.&#160;&#160;Under the Agreement, the annual base interest rate is 9.94% for
A1 preferred trust fund units with a term of two years, 11% for A2 preferred
trust fund units with a term of three years, 12.05% for A3 preferred trust fund
units and 8.35% for the category B secondary trust fund units, each with a term
of four years.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Beside
the base interest rate, Erdos TCH agrees to share the benefits from Clean
Development Mechanism (&#8220;CDM&#8221;) under the Kyoto Protocol<font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font>equally with Beijing
Trust during the term of the loan, as well as to pay a management incentive
benefit to be calculated by a formula tied to Erdos TCH&#8217;s net profit and average
registered capital of the fiscal year prior to the maturity date of the loan.
Under the formula the management incentive benefit is paid at the end of year
four and can range between 0% and 100% of the net profit of Erdos TCH in the
fiscal year prior to the maturity date of the loan depending upon the amount of
average contributed capital of Erdos TCH at the time of
measurement.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Erdos TCH
has agreed to provide a lien on its equipment, assets and accounts receivable to
guarantee the loans under the Agreement.&#160;&#160;Xi&#8217;an TCH Energy Technology
Co., Ltd. and Mr. Guohua Ku also will provide unconditional and irrevocable
joint liability guarantees to Beijing Trust for Erdos TCH&#8217;s performance under
the Agreement.&#160;&#160;Erdos Metallurgy will provide a commitment letter on
minimum power purchase from Erdos TCH.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 4, 2009. Beijing Trust also announced the first expansion of the Plan,
to raise up to 30,000,000 additional units at 1 yuan per unit (approximately US$
4.4 million totally) from December 7, 2009 to December 15, 2009.&#160;&#160;The
money, if raised, will also be a part of the loan under the
Agreement.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">Item&#160;2.03<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Creation of a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet Arrangement of a
Registrant.</font></font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>The information regarding the Company&#8217;s
entry into the Agreement provided under Item&#160;1.01 above, is hereby
incorporated by reference.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
9.01<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Financial Statements
and Exhibits</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The
following exhibit is filed with this report.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="middle" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exhibit
      Number</font></div>
            </td>
            <td align="left" valign="middle" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="58%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Description</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.1</font></div>
            </td>
            <td align="left" valign="middle" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Press
      Release dated December 8, 2009.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURES</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">China
      Recycling Energy Corporation</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date:
      December 8, 2009</font></div>
            </td>
            <td valign="top" width="40%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      Xinyu Peng</font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="40%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Xinyu
      Peng, Chief Financial Officer</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit
Index</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="middle" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="9%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Exhibit
      Number</font></div>
            </td>
            <td align="left" valign="middle" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="58%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Description</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="middle" width="9%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="9%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.1</font></div>
            </td>
            <td align="left" valign="middle" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="58%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Press
      Release dated December 8, 2009.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v168498_ex99-1.htm
<TEXT>
<html>
  <head>
    <title>Unassociated Document</title>
    <!--Licensed to: Vintage Filings-->
    <!--Document Created using EDGARizer 4.0.6.1-->
    <!--Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved-->
    </head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">
<IMG SRC="logo.jpg">
</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">China
Recycling Energy Corp. Raises US$26.75 million in Loan Capital to </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Finance
Erdos Power Generation Project</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">XI'AN,
China, December 8, 2009 -- China Recycling Energy Corp. (OTC Bulletin Board:
CREG; "CREG" or "the Company"), a leading industrial waste-to-energy solution
provider in China, announced the successful raise of RMB 181,880,000 yuan
(approximately US$ 26.75 million) of loan capital to support the Company&#8217;s Erdos
power generation projects.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
capital was raised through the formation of the Low Carbon Fortune-Energy
Recycling No. 1 Collective Capital Trust Plan (&#8220;Plan&#8221;) by Beijing International
Trust Co., Ltd. (&#8220;Beijing Trust&#8221;) on December 3, 2009. All amounts raised under
the Plan are to be loaned to Erdos TCH Energy Saving Development Co., Ltd
(&#8220;Erdos TCH&#8221;), a joint venture of Xi&#8217;an TCH Energy Technology Co., Ltd. (&#8220;Xi&#8217;an
TCH&#8221;), a subsidiary of the Company, and Erdos Metallurgy Co.,Ltd. (&#8220;Erdos
Metallurgy&#8221;), based upon the Capital Trust Loan Agreement (the &#8220;Agreement&#8221;)
entered into by Erdos TCH and Beijing Trust on November 19, 2009.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Bejing
Trust will lend the money to Erdos TCH for its waste heat power generation
project phase II and phase III construction and operation, through which Erdos
TCH will recycle heat from groups of furnaces of Erdos Metallurgy&#8217;s metal
refining plants to generate power and steam, which will then be sold back to
Erdos Metallurgy.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;We are
very pleased to have successfully raised the capital needed to continue progress
on the Erdos TCH project without any dilution to our shareholders,&#8221; Mr. Guohua
Ku, Chairman and CEO of CREG, said. "This financing will ensure our continued
strong growth in revenue and earnings while demonstrating our responsible and
innovative management of investor capital."</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The Plan
includes 145,500,000 category A preferred trust units (approximately US$ 21.4
million) (category A1 preferred trust 12,450,000 units (approximately US$ 1.8
million), category A2 preferred trust 15,000,000 units (approximately US$ 2.2
million), category A3 preferred trust 118,050,000 units (approximately US$ 17.4
million)); and 36,380,000 category B secondary trust units (approximately US$
5.35 million) (category B1 secondary trust 9,100,000 units, approximately US$
1.34 million and category B2 secondary trust&#160;&#160;27,280,000 units,
approximately US$ 4.01 million). The B1 units are purchased by members of
management of Erdos TCH and the B2 units are purchased by Xi&#8217;an TCH. Under the
Agreement, the annual base interest rate is 9.94% for A1 preferred trust fund
units with a term of two years, 11% for A2 preferred trust fund units with a
term of three years, 12.05% for A3 preferred trust fund units and 8.35% for the
category B secondary trust fund units, each with a term of four
years.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Besides
the base interest rate, Erdos TCH agrees to share the benefits from Clean
Development Mechanism (&#8220;CDM&#8221;) under the Kyoto Protocol equally with Beijing
Trust during the term of the loan, as well as to pay a management incentive
benefit to be calculated by a formula tied to Erdos TCH&#8217;s net profit and average
registered capital of the fiscal year prior to the maturity date of the
loan.<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font>Under
the formula the management incentive benefit will be paid at the end of Year 4
and can range between 0% and 100% of the net profit of Erdos TCH in the fisical
year prior to the maturity date of&#160;the loan depending upon the amount of
average contributed capital of Erdos TCH at the time of
measurement.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Erdos TCH
has agreed to provide a lien on its equipment, assets and accounts receivable to
guarantee the loans under the Agreement. Xi&#8217;an TCH and Mr. Guohua Ku also will
provide unconditional and irrevocable joint liability guarantees to Beijing
Trust for Erdos TCH&#8217;s performance under the Agreement. Erdos Metallurgy will
provide a commitment letter on minimum power purchase from Edros
TCH.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
December 4, 2009. Beijing Trust also announced the first expansion of the Plan,
to raise up to 30,000,000 additional units at 1 yuan per unit (approximately US$
4.4 million totally) from December 7, 2009 to December 15, 2009.&#160;&#160;The
money, if raised, will also be lended to Erdos TCH under the
Agreement.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">About
China Recycling Energy Corp.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">China
Recycling Energy Corp. (OTCBB: CREG.OB; "CREG" or "the Company") is based in
Xi<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">&#8217;</font>an, China
and provides environmentally friendly waste-to-energy technologies to recycle
industrial byproducts for steel mills, cement factories and coke plants in
China. Byproducts include heat, steam, pressure, and exhaust to generate large
amounts of lower-cost electricity and reduce the need for outside electrical
sources. The Chinese government has adopted policies to encourage the use of
recycling technologies to optimize resource allocation and reduce pollution.
Currently, recycled energy represents only an estimated 1% of total energy
consumption and this renewable energy resource is viewed as a growth market due
to intensified environmental concerns and rising energy costs as the Chinese
economy continues to expand. The management and engineering teams have over 20
years of experience in industrial energy recovery in China.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For more
information about CREG, please visit http://www.creg-cn.com.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Safe
Harbor Statement</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
press release may contain certain "forward-looking statements" relating to the
business of China Recycling Energy Corp. and its subsidiary companies. All
statements, other than statements of historical fact included herein are
"forward-looking statements." These forward-looking statements are often
identified by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks and
uncertainties. Although the Company believes that the expectations reflected in
these forward-looking statements are reasonable, they do involve assumptions,
risks and uncertainties, and these expectations may prove to be incorrect.
Investors should not place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. The Company&#8217;s actual
results could differ materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those discussed in the
Company&#8217;s periodic reports that are filed with the Securities and Exchange
Commission and available on its website at http://www.sec.gov . All
forward-looking statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these factors. Other than as
required under the securities laws, the Company does not assume a duty to update
these forward-looking statements.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For more
information, please contact:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
China:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr. Leo
Wu</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Investor
Relations</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">China
Recycling Energy Corp.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Tel:
86-29-8765-1097</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Email:
<font style="DISPLAY: inline; TEXT-DECORATION: underline">tch@creg-cn.com</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
USA:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
Howard Gostfrand<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">&#12288;&#12288;</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">American
Capital Ventures, Inc.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Tel:
305-918-7000</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Email:
<font style="DISPLAY: inline; TEXT-DECORATION: underline">hg@amcapventures.com</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"># #
#</font></div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 logo.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`E`"5`P$1``(1`0,1`?_$`+P```$#!0$!`0``````
M```````("0H#!`4&!P$+`@$!```'`0$```````````````$"`P0%!P@&"1``
M`0,"!0(#`@L&!0(&`P```0(#!`4&`!$2!P@3"2$Q%"(505$6MQAH>*@I.0I"
M(]87EUAA<3(D&24G@;'A,]0:5]=9$0`"`0,#`P($!0(%`04)```!`@,`$00A
M$@4Q$P8B!T%180CP<8&1%#(CH;'!0A714F)4%ACAPC-#D],DU)7_V@`,`P$`
M`A$#$0`_`)77;\XW<:;AX'<)[BK7'79:35J]Q.XVW%/EU_9K;M%9=J5;V>L]
M\KJKIML(<K@4_P!)]0/4+GGEJ`*E+%^BOQA_MQV&_I!M]_#V%*/HK\8?[<=A
MOZ0;??P]A2CZ*_&'^W'8;^D&WW\/84H^BOQA_MQV&_I!M]_#V%*\/%;C`00>
M.&PI!!!!V?V]((/@00;=R((PI5NGBAQ<S]KC1Q]`R\T[/;>*.?\`D;83X8IH
M92?6J@?1B?\`W14QV_[2;_E_[35%WB;Q?U$HXR\?U@E('_::P&CXY`DH3;!0
M`GS\"20/C\,0:)&.XEK_`$9A_@"!0.0+"W[#_I5<<4>*ZB0.-?'XE)R4!LYM
MR2#X^!`MSP/AB=71B0I!(ZV/3\Z@5(U(-C7Z^B?Q9_MJV`_HWMU_#F)JA5%'
M%;BL4@KXV\>TJS((3M!MTH#(D>"E6TV2"!\6*`R<<_\`S$_<5/VY!_M/[5:2
M^)O&ASV&.-7'QM!6`5(V?V]#H&9]M2C;2`A&6683FK_,8KU)61^B?Q9_MJV`
M_HWMU_#F%*/HG\6?[:M@/Z-[=?PYA2JWT5^,/]N.PW](-OOX>PI1]%?C#_;C
ML-_2#;[^'L*4?17XP_VX[#?T@V^_A["E'T5^,/\`;CL-_2#;[^'L*4D>[^,/
M&I'.KCQ2!Q[V032I'$GF5.<I7\I[$%,=FPMX^"++,XP?DOZ-4R.S/<0'>H7$
MH=(T@',J5U_MP.OO]OC@H[,B^[YZ^&G&!4JG>H+WI/\`LQ9X0G(J(3F0H9Y:
MCED22GP4I:6%*,*484HPI1A2M=KUS4JW(#]3JTZ!3($8Z9,VJS8]/C1BLH2P
MIU<A;8"7EN`)S*2I1`'B1B?#BGSG,>-'(T@OIM-[`7+?10-2QL``2;6JUY#.
MPN*QSE<A-'%``=2>I`+;0.K-920J@L;:`TVIO9W:N$&RC=0;KF\]`N.M0ENM
M/VW8:Q=%PA8(2AQB&PZMET/+4"V5.`+!"AFC,C8G!^POFWD&7VX\26%BZ"TF
MX$F0KM"C:2Y.X,P5BP!/^[TUJ#R7[B?`_'!)CK/_`",N/;M"[51QN=9"'N;=
MGM2AUV;MZ")59Y(PS=-Z_J-=BJ:5-65LON/=[3KBP'Y<VDVL66"9`96XF6'9
M!DI2E!<0W^[_`'GLNJ*3EO7B/LI\QRGWS$#&"BY*]MNX";H$G=69-I!$E@I:
MXVW6]:>Y'[Q^'(23CL.18]S!TD]<I%D*LO;*1*O]:M>5G!VVC*DD<GG_`*D]
MM<]E5/XWU=NF-AE+S$FZX`FO!*RI_I/1'6(L74V="-3+VDC4=0.@>SA^RCEQ
M#MEGR1-\-IQ=H^6ADN?W7Y?6O,97WF90R",3B(7QM+%Y71SIK=55P-;@>IKC
M72]AT&C?J/=M%U)NGW=QYO2B,)0DRJG1KMM2Y([3KI:4$M-TY"/5,M-NDJ4A
MU:QH*0C4=`\CROV4^6)@MF<6&F"DG8PC238+EB$[JLSFUDCTN2`&MJ<OPWWG
M8&:\<^9A-%B%"75DE1[A2-D9;<2QDM8RQ0HT=V+J=MUR;/=['@KNHY"A3MR%
M[<U>3&ZSL+<.G2J%&9?2I2514U1U#4-Y!#2U!S-`T)S5IU)!TSY3]N7FWC6:
M\$N+*T:*K*=KQ]Q2VVX#C07(4[F7_=MN$<KN+QC[EO!O(5CC=I(,J>0*B>F5
MK'MAF81G<G;9VWAD_HC>9-\0W4Z5:&ZMEWS2VJ]9]TV[=U%D.K9%4MNNTRJ4
M]"V5*0ZA+L-UX!U"DY*0I95J^(8U?E8&;@MMRXI(^FK*0#<!@0>C!E(92"0R
MD,"00:W-@\QQ7)V_X_)@F8KNLCJ6`%KW4'<+%@&!`*D@&Q-=(ZK12%!QO2K/
M2K6G2K(Y'(YY'(XL7DCC_P#B,JW^9`_SK)A6;^D$U4Q/4*,*484HPI2.;W_,
M#XQ_8YYT_/7V[,*50[<?K?\`CVX)^\?1^N^ASQF]3Z#5Z/J?R6LK/T^KQZ66
M67P?%X84I9N%*,*484K#3GX<**\_+=:9C1W/;EU!8<0"X4C0R7.JHY*(1EEY
MC+Q.9Q3:+,R2(>/&Z8D]`6.G4``&YT-_E8_I!YL;&0S9C!(1:Y)"@7T%R2+7
MN+?,D4P5S>[Y.T^QM2J.V_'NF1][]RXSKU+<JL.IQW]OZ+522CIO38*YLVO2
M7I1TKCL);<'4RZB%)&.K_:;[6N?\ZB',^0.F)PT1.XN&5[J&)!)5`O\`00SH
M6,1:&7M2Q/IRA[L_<YQ/AZRX/C31RYZ!U=G!M&1&)$DL2`8;%`Q8KN5W*,'A
M=3&*WHYB\LN7\JM+W$W"K=6ISTGUM.LZW[F@4"WJ2Z2PB>I5OR")TJE/L27&
MPE+C386_I4M:6PUCMCPWV2\:]O2G_*M"L"R1M:.)W2;:LBE)280OJT+)Z@X[
MA*J7#CA+SWWPS>1NW+9&9"SE")&::7<RK%8LZQ]L3!L9'C,0@,8#W1NX6I%T
MR"[3W$,.JAJ);2M/H9\"HLI05*0$EZG293"%@H/L%04!D<LB,^E<1\=H`F*C
M1P(`H4QM'8`"P565;*!8"PM\!TK76/E1YB&6,2`;K>N.2,WT/2158C7K:Q-Q
M>X-4'&G65!#S;C2RVTZ$N(4A1:?:0^PX$J`);>9<2M!\E)4"/`C%PKHXW(01
M<C0WU!((_,$$$?`@@U521)!NC8,H)%P;ZJ2K#3XA@01\""#J*IXFJ>C"E&%*
M4AM=OQO9Q;N-=:V:W7N&T9^IYM2*)5$.T:MQ4&G(13;FM%Y]M^ENQF>H'$R$
M%T.H#2``A3F-+^4^UOB?N+QB02XD6#(H/J2",;6=E9G#;.WD!C%&$*LHVDLY
M<-VC=^+^>\_'/#R4)?N1*@`F[A,05)U7LSZI-#=P5CC(A=;-*'!6*I*7"/OX
M6Q<J[?V]Y:T*#95?JH4W!W/HTN*_8[ZUS'(S:;AID8HGV8XWZ8A/4#O504J&
M2%M:^`_='[3N?X03\EQH6;"A$C,0LNPV2)P%8[F+R,Y3=:-"Z[(U)WA>\O;+
M[IL:/&@X;R2-KHL<:%$+2OZS&JA8DV,4B52?2AEED](C11>25:-WT&\*##KM
MOSZ;6Z+4H7KH-3H\UJJ4N='7X%464PM]IUHE66:2I)\3X8Y%SN.R>#D?"S(7
MAR(^J-<$$_G>P/SZ#4GXUVCQW*X/-PC,X^598"Q7</F/@00#>UB+CU*59;JR
MD[4TZF2E8*"G24D@*/QYI(4-)!!3C&X^0F<C*RD6(^/Z@@BQO<5DY(S"00;W
MO\*N<7U4*,*4CF]_S`^,?V.>=/SU]NS"E4.W(S)C]O;@HS,F>\)3?#GC,EZ;
MI2GU*QLO97[WV`$JS'[60U>>7CA2EFX4HPI6EWC=-$LFD5>ZKBJT&AT.AP5U
M&M5:M2BW3H=,:3DYH92I1*G'4@>`2HKR'M9I2;K"P,KE,I./PHVFRIFVJ@%R
MQ/\`A:VI)L``22`":MLO,QN/QGS<R18L:)=S,38`#_7X`#4FP`)(J&%W*^\%
M>7(*IU?9O8VJR;2V08EBG5NMT:L=*\MUX]3@25H52JQ'BU2%;EJ-*<0'X!_W
MJWU(*5`I6EGZ'>RWVW1>'2XWD_ETF/#%8LDTDJI$59/Z!&QCDW-ZB'WKNCW2
MJP.P5\S_`'M]^>6]S%'`^*"7'Q0Y0):23NLW;`D*QO"SDCO1+$XVA)%)3N$J
MC<VPG#CE7R2E0'-I=CIJ[9J#A4]=52H<"/04K<)::E*K=])JLE#,B04HU`^F
M"4+6`/WB\;P\^]V_&O&^*&/PW(+&\:>F5I5B1(HU5NW%CPF.[;2`%>$.$*E%
M:-DD32WB?M5R_E7+J_-_\MDQR3F.1DE=)>Z[.`C"$1H)`ZM(_=7N%=-S/)CQ
MN[3MWV`.3UVP"[?V[6V-A>D0S%I])IEOU?<J*RPVAQ27HSMT2I)@-/M%MLI8
MZ2260"E02E9YPYG[OEC")QT/]UY"\DD([<MB@(5]I2*0ARU]7*_U++ZF2M\>
M+?97EY4DDO,Y,ZP2EG$H?^%*6!0;9HL>)6<LQD*F3^D*6#-W@$[%*_3</+BN
M2G>2U7F5U]QQUZ*FU:?(CK=7()=>?JJG3**UM*UJ*HNHNG3XC->+2'[V,U91
MCQP9`QEL/2,3<H`M81B(#3H!N`M\NE>P7[+.1@@"0\OB*JJ`JC'E50`-`")-
M!;I9=!T%<RO#].AO]28$^J6?R$LFN5.5$>8E0/DG-M*.Y%3%UJAEBE2U1E-S
M>BA"T+2VC4K6O,@ZKWA_O.D20X_(8ZSXJ!61LF/<RRBYT,3,R@;@>XQD8*`$
M1>AL.8^S.>'%CQ^)E_D2('=&FG[@256!COWH0Y+!GM(LEXB+686%-=;[=M_F
MGQI,N7>NULRJV1178LB;<=D]&\K7ZZJ*X]+J"*+5G4JDST4]AU2M;8!>]ALH
M\$-[W\/^YCPSRJ!1F1L.5DAZQ,4DN^0$B@.VS(+LFX++(0MG=2&8CG/SWV3\
MC\..1+R,$AD5F19&#0R-$'N&,V,'$6,9O[<9,F^0`'8Y+7;Q((*DD9%*E(4#
MX%*D**5I4/,*2H$$>8(QU1BY6+FP+E84D<V*X]+HP=6UMHRD@Z@C0]16OIH9
ML>5H,A62=&(96!5E(T((-B"#H0=11BXJG66HE$G7!46:93@P9+V9'J)+,="6
MTE/5<'44''NBV2M2&DN.Z$J4$D).++/S\?C<9LO)W=I?^RI8W^`TT%SH"Q"W
M(!(N*Q_)\GB\1AMG9F_LK_V5+&YZ#067<?2"Q5=Q`+"XHKE#FT"H/TNI".9#
M0]H,2&9+:VEE0;6H-J*V0^V`M*'4MN]-22I`"AB3$R\/F,'NQJ7Q)%*E74V(
M(LRD,+,-2K6W*3<7-C3B^4QN6Q%S\+?V6Z;E*D$=1J+':="REEW`@,;&GC>`
MO<EW5X+W51++OZ77[PV)K524*Q;$F0U6ZE9H0*13UW5MK)0B&F3%GSWRZ[;_
M`*=;K++`<.2WEOCA_P!W/M_XGS3&?FO%1(^1&JJ`NXR1W:1D1D;N,8XHPL;2
M;B&)W#=VPJ])^QOW,/A<DN-(\DF+,NUQV593/*7D`>&!$D4@ABC*=CS22+W9
M3+:":[M1N[9F\=BT*_\`;^MTVY;2N:%[PHE;II(8DM!YQL.!MYAE0<:=9(R4
MV@I4@@C,8^;'DG$9WB69)QN9$$R4(T%K68>E_3<$'3X_2]?4'QKG,7RCCTY'
M'+!22K`W-F%B5#$#<-;A@!H;,JN&1>OXM*RU&%*1S>_Y@?&/['/.GYZ^W9A2
MK?MQ0Q3^WKP2A!Z7($;AQQE:#TY6N6L)V6LK(R%``=0#PR^#++"E+.PI6`66
M88D.*9Z*&VG.J4J>4L(&2@G,EP9+4$C/3X@XQ`R)\F8XDJ[$-[VO<#KUZ6.@
MO:Q!^M79CCC02J;GX7Z?C_*HH'=8Y8[G\O\`>RC\#N+4*J753Z+7'FMR#:ZA
M(-RUIR$FHF$FLIB/IC6_9+2W#*4"MMQ3B=2@$(([D]D_%N)]K8E\Q\NQX#E/
M"S&*>PCCB=`JK(3OU;<'DNEPR"/U,&4\4^ZOFN?[FYG_`):\-,V1Q,>0L;F(
M[)6EC:8NT0DB"K,DD<2PAF8@.);8RLF12T^$78[VFV550MQM_?1;N[JA<>K.
MQ[B8:EV;;E7=C$O-0J<\I^-7U(J!+S<EX*="M.94!D?&>Y_W*>2>9)_#Q&7&
MQT+JC1$I&L?<62,1*51@45`C,UBZ@A@4``R?M5]L&!XF^/R//.LF7$J'LH%*
M*P$B%58*"J;6"V#,CJS$QQR+$T;\M%HU"H%-9I=(I,"#`C*<Z;,2#&@P6RZX
MIUQ26VT]-G6I94K(9K423[2CCF#)YG(Y*<Y$[2SSLP&]R;?(78DD"W06^0`^
M%=9X7$X?%XXQL-(X80+V4:DA0MV^+M90"[$L;7)-JV4`)`2D`````#(`#P``
M'@`!BK56O<*484JT>@09#3C+T.,ZTZDH<;6PVI"TJ&12H%/B#B9':-@Z$JZF
MX(T((Z$'X$5*Z)(ACD`:-@001<$'0@@Z$$=13*W.;L[;&\H:;6KWV]H]#VBW
MJ_V\ZGW-1*3"-%JSK4CJ2G;HMB.TRQ66WDI#9#G@$H`3IU*4G>_M-[\<]X#D
M!)9IYN+,4D8(=BZ[@J@7?<.VNP`!5]`/<0,ZI7-?O-]O6!Y_B/D\$8L3F+'T
M[5C1@$LJJ\48ECUW'TNHWRF1C=`IAW[P<?;]XL7]<FV.]5K>YMQ*,\M4%R88
M4JTZK;+S*>I<]K^\51(MSSXN2DMQ%NC4IYM:6UZ%%/TI]N?>'!]T\=$PY%AE
M%]R1[U=W!)5-REVBC9;,SC==$8AQ=TC^7ON!XIY/XSSW_"YT<V/@#KZ72=I`
MQ"1R/$9.Q$^G<D3=VVCDB=U)&Y/5&H55N"4Y"I$7U<EIA4I;?7C1]+"'&FE+
MURGF6SDX\D9`Y^/EEGC>>=R&'QL(GS7V1%MH-F.I!-K*">@/TK&\ERN!Q$`R
M>1D[<+.%!VLWJ()`LH8]%.MK:5:3X$RF3)$"?'<BS(KA;?8<`U(5D%`@I)0M
MM:"%(6DE*TD*22"#BMCY$&7`N3C,'@<7!'Q_Z$="#J#<$`BKC$R\?.QTR\1Q
M)CR"ZL/C_J"#H0;$$$$`@BK3%>KBGPNT'W`*IQ-W,9VHO^I3&>/NX5Q2(L]J
MN(0']L[W==DO+K,60),5T6BQ288>N>4IEMJ*%(6IEI*=4G@;[FO9O_S"TGDG
M'")\Z50\;(6*DE0SB3<S*BY#=PP@,RV5B6"H;=2_;9[OP>,9<7"<EDA\9U71
M)"!(LF\QF*&S1C^YW'61I5ED)2!7=183@&Y,.I1(3[,DNM$I<]2VI)<0%-*4
MA*5I;2HDKR\0G(Z#F<QCYJ97_P"`W:R@R,K;3>Y(-CUZD].NM^OUKZ7X63!R
M>.N7A,)('%P1I\;$6-B"#<,I`*D%2`0168:)4"X=0ZA"DI)STHR`3D,RD%0\
M3E\?^&*4!+J9C>SZ@$]!;3XVUZFWSL;VJY?0[--/\_QI2/KW_,#XQ_8YYT_/
M7V[,5ZDK'=M=$=OMV<"T0>B:8CA?Q812BSK(]W)V(L$1M17EXY`Y9?L:?ASP
MI2U\*4WEW!M_[JV.V-J"=NV'Z_N_NE56ML]E+>A&,*A4[]NJ6N!37TA;S26X
MMK)=<DNNK>0AM+/MEL*SQZWP+$Q^0YB/,RT1L&`=QA(2J';<J'VI*UG(LNV-
MRSE$&KK7@/<OD9^/X%L/%W-DY#;2%#$B/0,UP0`-[1HP:ZL'[94[KC4NWEP+
ML_B#MV]4J@(5S;T7X@71NI?$N/&15)5;>2ETT>E(::<!M>G/EQ#6;F3CX6]X
MZ]*,K[B^<9WE>0,/$;M<9CH$0!WD#$&Y8LX!8%KV)4$@!F!8"V*]M/;WB_&(
M5YO)@8\]/'M9I+[T310!=F8.ZJAD=B)7"QI);MA0YR`0`"=1``)RRS.7B<AX
M#,XUVH(4!C=K:GI?ZUM4V)N-!5)]L.("2ZZT-:?:97H42?8"2<C[)*L&8*+M
MTN!^YL/\30`G056Q-4*,*484HPI6):ADM)+4LK3FX%'1^[?R*DA*@5*!0#F#
M_J!!\,6?\79W'@.V1K6^`%K?`?7X_7H1<&KW=VT/JH_<_C\?"S<G<9X-6MS2
MV9J]'@L0*1N[;=.?JNV=X^DCN+I%:995TZ)5FG4A#]MW:V519*#DA;+JB0M*
M2VYM#VK]Q>4\%YS%Y(O*N-&QW*&9+%P+MZ5;2ZHS`(UBOI&\:Z.][/9KB/='
MA)(E2,<U$KM$3Z1(_;*QAY%M(A1Q&Z2(P(:./==57;`CJ5L7AM?>=W;>W-3%
M4J[+.KMQTZX:3.CM=&!7[&@S9<29"J#L=Z2N1#D*6Z&NDREULH;=);>6$?:'
MB>>P?,.)7EE0)'O2+T2B4,F0T>X`H55HY(WC]9]2-OVJ&B4M\A/*^!FPI`G*
M1R1[72"X+`WFDB3(@D0%5!"M&L@+-)"S7V)+&H;2[GK/R@K]3JX;Z3<M\=!!
M3H6F+':;BQ.JGJO)#YC,H+F2BG7GEX9#'K.)P?\`C>.BPB;LBZGJ-Q)9K:#3
M<3MN+VM?6K;@^-_XCB8..)W/&GJ-[C<Q+/8V7T[F.VX!VVOK>L#C(UEJVZYK
MDCW$*5.]"8E=CL^GJT]M:,JHIAF&F)-(9;CH9D]5#V:0W["-"0M02E*,#QW#
M?PX\C!F99N(EOMB9;A5<OOC(;=N0J5&ILQW747);!>.\9F>/3RC'R&_A"428
MX&Y6@;<[$*URUAZ"K;K[@S;5))::IV3.9;6_^Q\G9>]J^BJ[L[)(328[DV**
M?4+DVU2U!39UX,PU#6VVY"E(I^D)1D&D@`@ZE?('[FO;#-\,YXYT4:C`RE0;
MEU4R@$LMRSO))_;;NR'TM,'4,S*YKZC_`&E^YDOEWC<G!\DQ/)85F(+]UD4A
M4D5Y00C$3]Q56.,;0A,K-(^]WU'E=!C)"B"`A""0"3EEY^&6>D''-F4_\7$M
M&;,+*/C_`*6Z`UUM$O=E]0TU)_'YTD*]_P`P/C']CGG3\]?;LQ>U1JQ[;:XS
MO;PX'OP7-=.D<,N+3],3T!'Z4!>Q5@^G;Z694G-(U9'Q3JT_!A2EJ84I$[E@
M(W+Y4PMQK@7(E438>UA;UF4^>5*I*+^W!;_ZY<B#TU=67\FEMTK23D"OR\1E
M.KLFJ$AK$7'R(L1^1%P?F"0=*E=$D&UP&6X-B+Z@@@_F"`0?@0"-:6N`$@)2
M`````!D`!X``#P``Q)4U>X4HPI1A2C"E&%*,*484KP@*!2H`@@@@C,$'P((/
M@01A2H=G?NXS(VPWKVOY*6<W(B4K=:='MR]F*/38J:FJ^J+&6(=5IY*'BI5Q
MVPA<5QE94R\[`;#FO4E(^A_V<>?+S?#YOA_)NK%,=NT)C)V[(+QA@O\`;3:B
M27=B).W"G;(V/?YP_>CX0N/EQ\NB!L&;'G9@T<@QXW<Q]QYYNYMN95A9-L:O
M%ND(=2R[H]D#;F[JC'CRV*:V(LJ()L9]R?`2EUI<8R8Z0A,E;R')0TI0%)2$
MJ6-90G4H=YY'E'"XTC0R2GO(^U@$?0AMK:[;$+J38FX!VW-@>&\OS+Q[#F?'
MEG)GCDV,H230AMK:[0I"ZDV)N`=H8V!T?'H*]11A2G)NV'OQ+X[<L-H;CFN3
MH%O7?7)&W5Z3J\76+6AVM<-/;G494-X(+C%5;FU"3,!(6A3:F]"?WSBQR5]S
M_CS<UXY.\#PG$E@1'5$668RQ2L4(11W-2.WN6Z@H>Z/[:*VX_87RSB?'_-XT
MAV?\Q+*'5D8W&P-#)W4B97>$@;)=Q*`Q('%EW1_0?@O)<A(G--J>5T64)9`.
MH9);3GF$KS46R%>`(`)&9\\?(H8@3+>=[]SI8C^FPL?K?3Z6U%?7A,E)\=#"
MRM"P#!E-PP.H((T((-P1<'0BDIWO^8'QC^QSSI^>OMV8N*A5MVXIZ:CV^."D
MOT\F$Y(X;\8Y"X,WPFQ4N[+V:$HD)*E*U%3:@%$^UD3\>%*6?A2M9H]"ATWK
M*AKU^HFSY\LZD+9]YNNY+);`0H]):E`9G4"GS&)58->WP-C^/Q<6(T-1((ZU
MLV)JA6&FW%0:=-8IT^L4V'.DA18BR9C#+RPA(63H6L%(*3X:LM7P9X4K,X4H
MPI1A2C"E&%*,*484I!W/WB:GF7Q\K^TD"N0[4KZJO0:U:UQO1D5$T>LVW<")
M2)O1=8(60VAY(0EULYJRUISS'L/;[W`?VTYP<EB(K@H`48$Z"19+CKJ=A76X
ML[75AZ3KWW-]NX/<KQ\\7D;#(K';W-8F#H499(RKQR``AU$D4BAT4V&I$<Z3
M^F]WY0PWZ;?JPGYXZ?J8[U$K;$5H*0OJ%B8U3Y;LA*7DZ4$L-A:<U>R1I/8T
M/WF\JTA[SRI#8V(@A9NNFY=H4:=;.UCH+C6N-Q]J',+ER128\AQ%9@DB9L+%
MP&LIV/CQE0R^K5B1H".I&Y?_`%X=\_\`\Z;7_P!*8G_PL3?^L[(_\!'_`/6S
MO_V*\Q_Z.>>_\-F__P!MO_L5J-P?IW=_F669,_?S9=N&UJRENVU,LS)QU0"F
M7(T"#,]4$I:"DK6YF`59(2,U*RF-][$..K'^"%D/^T]_(N!\09<J/;J;$`6Z
M$L=`,EX[]GG/8\93ESD"=Y0-RYJR1JEA8D3"5P02Q;MC50+*Q%JM:?\`I^]_
M:ZTS,3RCVLNZIPVGG8U.B1KDJ4-/J-`445-=0G/(0[#*5G*,C-P)!5I&HX'F
M?N[XCR3C9.&3CH\/BYY%[CQ1@2-VF)"LH9EL)5!N)+V'74H<GXO]IOE7@WE:
MYV'%A2X:+H\3)!N[D5@S1E`S*HD8`$J==ZDCTM+<VNMVXK2VYL6C7?6FZ_<U
M&MND1;HK8Z,>+4*M'I;;54JJ4H24IZ[Z"KP44^T?'(YXXAYO*3DN7ESX@L:/
M(3M3=LM:V@;4*3ZE#7*CTW^-=Y>-<=+Q'!8_'Y!W9"QW<Z:.[&1]1>]F8BXL
M#U``L!P6]_S`^,?V.>=/SU]NS&/K-5:]N-Z3([??!=Z?%]!47.&_&14JGF89
M9BY[-6@&PI>>DJ7DK-66:B,B5:<*4M#"E<;WXWTVTXS[57IO?O)=$"SML-OZ
M'/K]UW!4%'3#CQ]"T%(`"59H2I(!4/$I\0`3BD$*$E=;W.IZD_/2]@+`==-+
M:"IB0;7_``/W^/4_6H`O(CO4]S?NY<C?HN]N&EW9M-8-<FU.#:L&Q9#M(W!N
M*TVH_2^46[U_/R'&+5MPA+BR&U)`*U>7M:JM2UQSF1^G[[HO&C9/Z1%3WBJW
M(.[$URF0+GV\VCN;=BZMQJ?5+B46UU^W`ZA7RH#:I`#H&>@YYDISQ*K*PNI!
M'T_?_(WJ)!'6GR/TSU@]T;9ZH;X[;\PK*WQMGC?+LZCW'LY.WFJ359<I>X+E
M=4FY:!;S;MT2+L9;<MLA6D(\5MYG-258,NZQ-M#?Z_IKI_J+CXT!M?\`+\?C
M]:D3<\N7-F<$^*V\7)F^M(@[>V[(7;=)25E%P7C<2V8ML49>EMT&5.N7).>2
M4AHG+VE#$BD.1O4!P!\C;X_M<6_,7Z"]1.G])]/ZZ_#_`"/[&OF;<)]B^<'>
M:YGWA;-#WXW$L^OWQ\J=V]X-SY-S7U6;4V]I3PT1DJH5MW6V`XXXI-%MT%24
MCX_-*JEP.MM:EK-=T[@SO-VN[[L+;BK\_JEOM=%XTRNW#+H&WE[[GVM5-NUV
MLTR#(N*VT7;>B@MT%0R"4J`1[668&)J5+"_2GUGEY=?$K>*\=_+]W!O+:&O[
MB4>%QW%^5;WI6$M4*C:-Q7[85<".N+<^4[I2-2LBXV=.92=,AO<6OU^GR/6_
MP_+6]OA>HCXTX=WT^X9&[??!^]+LM>JTZ'O5O,J;M?LE#44*FJK->H+OR@OY
MMMM(6463;@6M*R4*;5H.:P0$Q`M\;U"H#_;4X)<H.Y15]T31>98V*M;:^+2C
M6;SW;W@OIINX+TN0I7[EMZA?*I3*'5M1R<SI\0$Y>&>(TIWJF_IE.759F1*9
M;W=>V>N&>\Z41J+1=PMX*E69N2`HA"$[F*<?/L9>R,P3Y`>(E1BPN5*GZV_T
M)J)`'0@_CZU,![9'"5/`+B?:&P-4O>K;J7E$D5:O;D7U5IM>J#=U7C79!?DF
M@KN9*'!00V2EI&:0#XJ.2O"#LJ6+&UV`_,G0#_73Y?*]`";V%]*88[TGZD9?
M&F\;DXI<#OD_>&^M`F)HFXF[TR(S=MH;:U9:`HV]0Z$WJ8NFZ=*P"$]1I)4`
M,EIQ$`]3_587UN/T_P"MA?XT/R'2FX]INQAWE>XY;</?3EUS(N39MZ^*:BX+
M:MK<JL7S=US(HMSQ"L)N2P;8NNRHUKN+:]EMLE#J49G2$^8O8=";$#I\[:_D
M+ZD?+Z4`_+I2'K+[*W?6VLWZJK6SEH;P4J?MC>Z&K4WH@[RIM"UKF7;==7(M
MNNVXY\K1*^3"4-Z].>KR.0SRQ-4*^E5LRWN$ULWM<C=L4T;K?R]LY6XWH0D4
MX[@+H5/7="F.F5(4E5Q*>.I!TJ424^!&%*X5>_Y@?&/['/.GYZ^W9A2J';C]
M;_Q[<$_>/H_7?0YXS>I]!J]'U/Y+65GZ?5X]++++X/B\,*4LW"E0+?U=',^Z
MI^X^RO!>@5253K$I-'_G5NM#IRE)=N*MM.(3MY;5Q=-6A5MH=2JID:L_8\4A
M2<L0`ZZTI;OZ6G97CYLIP;O+E)6KUVUB[K[QW5685]5BL7-;U,JNW6V^W1=M
M^@V\E*G4&V&5+8]ZO)=R2M3ODG+,2.Y715N?U^8`OH1;6Y/4"Y`/PF4`]3;\
M'\?]*4I??ZG7@_9/+1/&>S]OMVMZ*`9]*M)K>39J$+LI-P;AUU+*DVY;MA,`
M73<F10G55$E2/'))5F29MMQZM"18V)_PZ?/KH?V%0O;ITO4DVD5$U:ET^HF+
M(IZJA";E&',3TYD8N(0HMN-J3YME?F0/@\/'+`W.@T%CK\1\K:$?O^QH+=:^
M=U^J;[BAWYY&T'@[MI75+VPXWRF*]N&8:6U4NO[S:1KH*U)46G195KO>.@C(
MU(C+,`8B!UUJ%-D<I.UYRG[=O##C3S)K6[-6M(\IQ1(%P[:63-K]K71M^Y<E
M`?NF@HN&X[9NX?*<-6PA.HH2D(<4!Y@%0$'H=0=::TKS]._PTX6=PGD=N?:?
M+J@[F[H;C;?6_3-T;8B7#?9:VZO&BBX'J![DN)*U,W;<R00%$YA*@I6K(I"2
M-]+=*5])ZU+9LS;.TJ/:%H4:DVG8-FT%%-H=$H\*/`MZVJ/;R0T(K#;20EA+
M"`3D<_\`VE*/M:BJ5+W.OIOIH;_74G47Z:`6Z7%JB;?K^/P:^6_WP>==R=S#
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MJ:$7`EFXJ^:T=>H)RR(S\IJA3_WZDNH<Y;4KT3>;;;F7MMQSV(V@LL4^A[8V
MSN]\E=[MT+RN*X4+N"L&PFVTL7(PPZFG`@)2$$YE*@HZH7!Z7T_'Z_@?"E()
M_3CTGG3SLY=N;F;K\G^0U?XV\;H%(NNZH57ORNR*'>FXA7_V^L.0E12WZ9"7
M55IT$C4FGD#)2@1&E?0KPI2.;W_,#XQ_8YYT_/7V[,*50[<C,F/V]N"C,R9[
MPE-\.>,R7INE*?4K&R]E?O?8`2K,?M9#5YY>.%*66M6A"E99Z4J5EY9Y`G+/
MQRSRQ)(_;C:3KM4G]A>HJ-S!?F:A&]]7C5LSW!MZVJM2W;\VBY);'4VL[:O5
M=RE4:\=NKMH\E#CP%T6[!]1>7I"Z>F7VF7@RI;:'0%*3C1WF'O1@>(SQ#/.+
M%"9K,LC,)6CM_L7TA7+!EO(0H"LPWL#&-:<_[G\1P>^-<>::=&VB[+CH6!LZ
M[\@1A9%!4]M]K-:79N$>YF`+9[1>Z3SZ*14>2=(I5L5#UC->I%#H59]YR94;
MU".@[8K%RS*H$-2&25Y,:DI)6H!`Z@PO*?<5X[C<4,[%.-O=T"DO,Z!&(W.?
M[,7^S=LW/&C-L&^[*#8\A[N\-ALS8^)F30")65R%BC9F*V'?<G&";&W!^^2S
M_P!L)N(-2&>W)M)P-[:L[^8-K[,[J[O[Y0J?)D5#?;=UJDPH5O-!:3Z+;:@S
M%M*HS]12MMI#2>BX))*$$MYO'$P?<_XKDRMB])VE(B9#W`RG:5#K&)74H#)W
M&VA-L?<#`L(:M,3WDXR8P!\7=-/.J=J.>*65%)LSD1%D8*`TI)D152RD[J>$
MO?NOJKML770MO+%K]N7Y7*'<-'M.Z:DA56AVA7AKC6K7KSM@1U28<:3DB0SJ
M]I:`5**$A62;[H_#XXI)HUDLN]E[A"I(%)`2-DC?>QN-Q0R;-IW#?MB>VE][
M..CQYYWP71(T1HSWH2)[E3(L3%U1VB3>LG;=]LNU%$FX&HY?;B[`)Y!\K*;O
MYR.Y14'=BG[<[PTS<+=C;29MO7J16MU+CTL74I#]P.W-ZDVB]<#V>M2&BOQ4
ME)"D+.V/`?<WB/<3#;-X<!8`NIW%F5B;#<IC4`7(L=Q).Y2JE'V^Z\.\VXSS
M&)GQ$>*8#N+&Y5F,!8JKN8V=(V8JP,9<D%6`)97"R>N\)VRJQW.>+=N;!6KN
M=0]G*E:^X=&O.'<M;M*NW?1S3[>2&UTAVA6_/M'0'&U=-`UZ4)20G/VLMCQ0
MI#NV7]1N;DG7]?\`'XG]K>U9V>U[:"F^.SWV`MU^V!R7KG(2ZN35G;LTJK[=
MU"P*K:-O;;URUYO4=4MP5M%RW#=BW%)0`G,I04C]G/(JQ6T^%24^+SJV8WGY
M%<7]W]D]A]V:)LGN+NC;KEEJW&KU(K-S-6U0JT%&X6Z);U#N**^;L:M@+#12
M"VZIP*_T*4$PI4.AO]&OOLPMMR-SRVK96U_H/\D+X5I\,DZ`-T$!.D84K.?_
M`$_.2W_]$;*_I7N/_P#M7"E2V>V[P>MWMZ<4]O>-E`KC]X5&AHJ=Q;AW_/4\
MJ??FXUQR6Y-PW*I+ZB\RB8XUXH6!I&DCQ*\E*V/GIPTVJ[@/&O<#C!N[-JM*
MMB\TT]4*Y;:2M-TVC=5#>9K]'KU"4I"FGI<0,A00=*5`%'M%0T*5#EKWZ/;D
MA0:_-F[9\U]L33A.'N:?4+%ORU[IIM/`"TH]1;MU.1%KSS23U,Q\`R)(4I4&
MRWZ1:W)5P0[BYE<R[XW>]%I2:!8-#KM*9GM(9$AVDOW+N+=M^72&-*U*0*88
MX_=J_P!*\*5*5XB\+N-W!K9V-L_QLL2'M_9#,YRX)CAEN3ZI7JTX@9UVYJRE
MYN17I:T)3[3JRG0`D9``"#,JC<V@_'ZGZ#J:B`2;#K2I8]28EM1'XQ"VI02H
M$E.:4J.D`Z"M&H*\\B?+_'/%G-F".9(0+LS6/T!T'2_7K\[=0+Z54AW(7/0#
M3\?X4DJ]_P`P/C']CGG3\]?;LQ>U1JV[<<54'M\<%(9>E241^&_&-M,F>Z7)
M[JALO9NOU7L`!:1I\<S\(R&694I9Q`(((!!&1!\00?,$?%B!`(L=0:`VU'6H
MW7<BVS7MAR'B;F*3&@V?N]3),&942[34QE7M:X2[*>J$YQUF4A:XCSK*$*20
MC2VC4H9)9^?_`-UGC2MFP9F&H;+5RUBSM,Z.%4JD84@0Q%$M=@2S2.%NSO)R
M[[T>.94N8<C'AR))F?O(VTL&5BJS*AC7;N#M'Z'`D$:%KE0246XXFKFVC"E&
M%*[1PZW[H>R?**V*F_.6U;=]4ZFVE=4Z+%ITRE)FUB8E=I2I$Y(5(C35Q42<
MCJS>8+(`+84I'6'VV^0\AX_RW\;D&9.+DF9(U=I5M,PVE0A_LW9PMM^P[XW_
M`+FABEZ#]GN2S.#F+<@O]@-*%C9^W+L4#OD"1XT*(^T!3=>ZS@J)3&RRHHLA
MBI1$.IT.LOMH6"#FEQMQ(6VZ@@YA"TD*2?`C_,8^D.-D#(2^F\:&QN/T^G^&
MAL2-3UK(FPZ?TGI^/Q^E7V+FJ=&%*,*484HPI1A2C"E&%*3)OIN$*>JS-IJ1
M)2]<^\E<=M*'$B*CKJ,2T$G7N!7FHX*&DIM6W%K*5`JU$$^8)&(R\YD8/""Z
M(RAAZA<-T((N-HM>[``VVACOL:NPJ%!']1L?B0.G0`DG<0#J`JDL2-E*,A-I
MTET@ZM12DGR"<AF4_P"))(S_`/7$>+@789V'KN0/R^G^(O\`I\ZJY+F^P'2U
M)(O?\P/C']CGG3\]?;LQEJM:L.VTS%C]O'@@S3A#%+1PUXNBE^A"N@J`=C+#
M+2TY@`AQ14I)'F@@GQSPI2U<*4B#G/L`SOULC<-NTM*$WC0H[EV6'4LD>JAW
M-0#U6D1Y*(DJ1&3(2KHN%L)6$.KTD*S(\)YKX[%R7CLN-&1WE!*,ZK(JFUPY
M1V2,[&"N"X8W4*.HMY+SKB5YOAG=U5G@5F*G^EHR+2*0SJEBNK%@UD#!5NQO
M&.MQU51H\NW*O1Z<U5+:J'R=K=`D+0]#B>[)B6$:$N/5A<EN/'8_=K6I27Y#
M"@%A/[P?([R?B<_QSGG&0<B&9P7#,I23<RW(;2(*2QN=O2-U-C?:>*?)>/GX
M/G3E133!)@TB3+_678$."R")02Y(;9_3&X-B?2=XQY&O'484K7+FMF#<\'TL
MK-B4P5N4^H-H"GX+Z@`5)!*0]'>"0'6B0EQ('B%!*DY[QOR3D_%N3CY3BY&2
M9&!(!T8?(]1T)&H(L2K!D9E;,\)S>5P>5WX/5`UA)&3Z77_1AJ4<"ZGYJ64O
MA]N+FG'W4M>-M%N//<INZUHTR+'#-497"DW%2&UQF53FF$+B]2<(KC;BBEE)
M9!<<<.G]XY]-?9OW'@Y[C5Q,AD><&RF,M(&%R`&D8LW=+W-Y';N!K))(\<R0
M]I>!>3<?+@1\1D9"O*TLAAENIC??(QV*5N`1T)9F+R[K%`R1!W=*@M*5).:5
M`*21\((S!_\`$8Z&!N+CH:V2=-*I...(("&2X#D,PH#(DGP(R)``'GY8MYYI
MHF`CC+J?B#;7]CI]>E5$1&%V:Q_+\?M5;%S5.C"E&%*,*518<<<05.LEA06I
M(05A>83X:LP!X$YY?&!GY'"E<8WBWBLO8BR:W?M_5AFF6_2&'74%QU"JC-J;
MI;3%H5"CI::6Z75(T)2E*W%ZL@!EGC`<OS>#@0L)2W>N0H&AW`=0>NE[7Z?`
MD`B]ARO,<?P,"Y7)2!5>^U`-SR$"^U5_8%F(12R[F!(IO;@VN[.2&YEX\OKX
M@.4^*I3UA;4T)MP%-#MM;C0K2VG"VI+K14I9TKS6@%*0M;801Y/Q;-EY3DLM
MY)5:&1D4I<$KL$C?`W&XL;EO460]4`6K7QSD.3Y+%DSLR/9C%V:(E71F1R`E
MT<E0%C"F\321N)!9NXDA9W!:VX[8\"$@A*4I&9S.9^$^?F22<;#DDAPX02+1
MC0`?C\R23_C6=57F?_O4C^]_S`^,?V.>=/SU]NS%Q5.L?VV7&'^WCP1?BA/I
MW^&?%IYDIB+AZF7-A]OU-*4VL)"CTLAX`!``1EF@X4I:V%*HNMA]&G,IR5F"
M4GS22D^RK(D'QR/P^8\,6^5CC)C[9-B#>_X_.JD4G;;=:^E1ZNY1Q/EV'>C_
M`"$LZD.3;4K3\=G<!$>/`D-VP\Q&<?CWRL.H?D+K%.=UZ'GF):EM.!H%)RU\
M4?<GX#QV%CQ\Y@D1\G,UB`T@[VBQB#8@-HW509&[D*)MW.9#M*\_^Z?B?;C_
M`)O&*Z8\A(1(U(7=90V.[(5(AR+W(#*!M,A(2(TW^TZT^TV^PXV\R\VAUEYI
M:7&G6G$A;;C;B"4+;6@@@@D$',8X&='C<QR`K(I(((L01H00>A'Q%<DR1O$[
M12J5E4D$$6((T((.H(.A!Z5^\2U+1A2N?4B'4TU*FWA:DU5KW90RJL4JXZ:V
MNVKFIEX.%^2Y%K$!N%(3[M+<I@CJ+=D]$']X^A\N+]]QGE'(^*YRS8<TH8,4
M%F[J?QRO;WP2%@1+;N+=0J!CHL;1A5V#C^0S\!.('>23%[BKLW=^$XR;562"
M0NI[EU<,`JQ$G:4C,?;5[7CCW/J5K@V7R.0U9]=>DOPJ1?:I4-RW;HC0FI,E
MV=/!>";56IT---L/+T?[M`#I+:LN]?:_[B..\N*<5G(L.8D*:EK+O:1T2(M)
MM,CA#%ZTL9&24A%!6_1GA/NGA<K`D'(%GV1Q*[J'+QN_4RLX4.H`8%TN?26(
M<N-KO=N7'0[E@L5FAU1BH4R05IBRX<Y<Z)*;]D:RM:3TU)5XC++-)"LR%8Z5
MQ^5Q,A0P:P-OJ#?Y$?#ZFVFM;IB"9$0R,5TE@87#*001]"-#^EZV@$$`@@@C
M,$>((/D0?BQD001<:@U*1;0]:]Q&E&%*M7IL..TZ^_*CM,LI4IUU;S:4-A/F
M5**LAEBF9HAU91<7ZCIUO^5OC4VUNMC84WAR'[A^SFRK,B#0Y3>X]Y*C,26+
M<M:H1'HS$+JQ&ES;@K?J"Q"IYCN/*]6Z#'9Z62U!2AKTY[A>\'C'B,7\<Y"R
MYC!@$0@W;:[*I`O)=RBJ@53W.X"#M#$:WY[W-X?B5>'B^WE<B-RJ2S"$2@:1
MED5V>0DHZQ(N^6,[X2],D4NO;Z]QG?6#;]W=2HT"!5'ZE4Z71Y5/59]C6P8E
M1=@.)JT.:)-0EJD3PT2V\TAOHE:T+*G.CS/$/+/>'F5R./:3&XMG17#QN5"B
M2%I%Z1;F95)965/2N.!(#'`#K_#X_P`C\XSB\>:X8(6$DOIDB5I`9`F/(J@)
M_;*HS13%&GT[4("R2C=L]N[?VPLRW;-MB$U3Z-;]-;B0X+#+;*&\TE;B0E(0
M``MQ02"`0,@3X8[>XCQW#X7U8MR0H&I+,VU=J[G=F9M+]6U8L[$LS%M_X&)A
M\9A+Q^#&L<`-S\V.EV:P%V-A<_(`#0`#?%AI]H$E105#24A68.K1GEI)RS/C
MF,@/'_'&8=(<V$:DQDW!&G33X_J-15V"\+_]ZD@7O^8'QC^QSSI^>OMV8N:I
MU;=N*>FH]OC@I+]/)A.2.&_&.0N#-\)L5+NR]FA*)"2I2M14VH!1/M9$_'A2
MEGX4HPI6M7+;-*NBD5&B5N&W4J348*HLV$\-7JTCVT!7E[06A*@<\PI(QBLK
MCUG8E[-%VK$$7+&Q'JTUN+7(]7RL;$33)CY>,^'E('@DT93TL?QI\CK48#EM
MPGO_`(Q5VH[DV%`74-HZD]!,B'!;6Y6+?9I$5QM^CU>([*GQ7H;ZVD*?K"G%
M2DEQYU#>A+I=XJ]W/9"?(;^7Q<<V5DSRR,6=D58FD(9;A(E(?86<;Y4A9HVB
M<M(\+5SEYY[?F&(M,B'C3)+V6W._9,DAL6=KRDQI8I'N$3FR'THKIP&#.B5*
M(Q.@OHDQ9*-;+R,\E#,I4E25!*VW&UI*5H4`M"P4J`((QPQFX67QV7)@YT;Q
M9D3E71A9E8=017+N5BY&%D-BY2E)T-B#^_PT((L002""""00:NL6U4*,*50E
M18LUA<6;&8EQG=/4CRF6Y##FA:7$:VG4K;7H<0%#,>!`/F,5(IIL>02P,R2C
MHRD@BXL;$:]-/RJK!//C2B?&=XYEO9E)5A<6-B+$7!(/T-JUZR;TW\VCJRG=
MN+VJM$I\)+,N4KU3;%M5=N&]'GMT^#9U#B/RJ:"ZIQ+R&03+<"G`I+BD@[U\
M6]W^2\=@0X>3*'+_`-N(M([1.4[0D>:65$EV(JB)9;Q0J0.V;;AM_B/../PQ
M#EI+/'F;MJ1(\A>/<S;FEGFE6*0-\'.UHD=H[E"YI?5G]RCEK:\"0FYHFW%Y
M%M#RT.:*O3'&V^@V%*2Q2J#)FSYK:VU+;)6LJ*M)0O)(QLZ'[L>:MBXZ1.=G
M;61G$8:0KM#697CCB5P#<E&V$D[K"O78?OMEKE6D,DL;,-JR00*+MN!WR"9!
ML%U(U3:5)9V0[5W!CNX\@:;3W'*MQ_MJH.-'P?AW9+>D*2XZV$:H-/2\Z^4:
MR#TFTY)R4K_2HGW>!]U/$9-X\DM%.;A0`[+I8[FDDDQP+C<NVPUVG>2=E>SP
M/?/B)66"88LDQ8G=_=@7;M.EY(W4-<7W%[$>@)N(:M6N+NH<GJ^FMTRE[?V-
M:,V$E#Z:DHW35:7-8:7K<,`0Z9U9SBXZDA*$R&I85HR22VZWC$YGW:YDBXT\
M&'!_$E#))&)$[ER++N+E#%8WW-M>,CXI=6.!R?>F0P8^7CR1?W3;;&L89&)%
MN\LT^Y0+$!P1&-2S$%"487QR.Y,;L/5^%?.Y5;IE%8<HWJZ#:\Y<2,XEIX.Q
MGY]J6C)J56,BI-1(X>Z=0AZ4)#@4\$*.-'>2>ZGD'/-%EY69-/D3Q.I)O$AL
M&4[)91%$NT22)<0OO4F-E4.0WCN=\[R.23%F:>7(=S*T8;^S$C%0'$<\RPQ%
M5<LX[L.0"ZQIMB"0JF.VCVBW"W?W`=VVVKI5(K$934-$V;3F:6W%LZ6A26U7
M5=41BD)C/51NIP_W3;;C##?13UDL@I<32\!]LN9]Q^WE1]V"SR!I9C(5D`4,
M,>,]WN+$R2KN=U8E6D*-(4:,X+Q[Q^?RV?%1US!RLLC$F3NE9(#<F**1IKI#
MVG)9G#.^YRCLJ26DX<4N,5K<8[%-OV^RY4*M5#[QN6X):(YK-PU+2K*1.>ZZ
MDKG.J6HK5U"V-0;22VA"A](O;SPW#\/X2#`@CB[J1@&18T0L;*";(%`6RA5]
M)<JHWNQ]3=>>/^-8/CN&L42I_.*!79>BC3^W'H"(U(%@-H-@2MP`JK\;"K/T
M84I'-[_F!\8_L<\Z?GK[=F%*M>W&])D=OO@N]/B^@J+G#?C(J53S,,LQ<]FK
M0#84O/25+R5FK+-1&1*M.%*6AA2K1N8A:M.A8))RR&O,`9@D)S4"<O(`XQT7
M)12OLVL"2;6%]/R&M_H`;?.KA\=E%[BW[5=XR-6]82LT:E5R&]`JD>-)A3`J
M/)8D(U(DYYM]%0*T)6%A)0M)"M:"4^1Q8Y>#B<C"\4ZAT=&0WN1:Y&HT!L=1
M]0"#<`U+-&DT1QYQ>(D&U[$$6*LK"S*P(!5E(96`92"+TR9R7[7+S3M7O+C!
M/A6\_4VH!G6#(/3HE4#"IH2*14&(OKJ;UHTQI!>9?;4A04X3J474<O\`NG["
M\1SN_D^,B"9\4<LD:+N/<E=ED:Y=F5SO#JHD4CUQACVHPC:C\G]J<'DKYT%Y
M,>$.T<5F:2/T"P0%BDVYT4E9%8!;C9*;J[,]=>W.VGJK]!W8MFXJ=<3Y832H
M%5:H=&I3[4A499=DSVH:?2/L1W4N9EYQ'2?27$-I*7#QSY;[:2\1G28L4308
M4,C!I&CG+L`950JA=@1+VV*KHWH)1G%Q6A^6\'PYI>UQZ+B1PEA-N7(>965=
MQ5$9B)!Z@K!5#*ZE0S-NC'2VG6GVFWV'&WF7FT.LO-+2XTZTXD+;<;<02A;:
MT$$$$@@YC&FW1XW,<@*R*2""+$$:$$'H1\16HY(WB=HI5*RJ2""+$$:$$'4$
M'0@]*_>):EHPI1A2C"E<^I-TQ(R&:/%3*N.<7)$>C0*#4G[UN:MMQ7GC(F2V
MHL<-17'(H$H-E]0#.M*0GI:!Z]?&>4YG-5<*%Q/*5NIA,**S`;8XE!+R6:Z>
MF.Y8`F^[=7MY/%>4Y?+[N/$8BRAI-\'\:&(E`0D8N7<*04+"/J`S%@^^ER\>
MNVOO9O77:9<>\$RJ;?69"=C2VZ:2]'N&=*ISTIEF14Z$BN!NUZI)880XXB(L
M$(?2I*FBO6KKCV_^WQLM7?.14PI$D`#*O<VR)&5!-@S+&6D#)*3:6)$+2QM=
M=[^">`8V=@?REQA'QTP`+N%#;7D0S0J7@$LJ!-ZKWD!W6$C#MF,/^;);"[=;
M(6O&M:QJ/`@0HS*FIKZ8[#,R<5NJ==%09:8990E3NHE.G(G,^:B<=C\)XIQG
M`1(N#''"BH@<@#<W:7:FY_CM7TW^"JJZ[01O;A.'P/'\+_C^.[S)8#=)([EO
M^\;FV\Z`O;<]AN)V@#O&/65D*,*484I'-[_F!\8_L<\Z?GK[=F%*H=N/UO\`
MQ[<$_>/H_7?0YXS>I]!J]'U/Y+65GZ?5X]++++X/B\,*4LW"E&%*,*484KP@
M$$$`@C(@^((/F"/BQ`@$6.H-`;:CK7,]Q-HMN]TJ2_1K[M&A7)3EA1$>J4YF
M>D*"&NFM#;K2TA3:VADG2M"LAFDYD8Q/)</B\B/[J1EA\U!N025U^%F9C\=3
M?K5O-A<?EDG,A21RNW=:S[2&!7<+-M*LRE;V*LRG1F!;EW'[3>S-<FRZMMG6
M+EVMJ$B9#DNQK;G.NTAU,-`TLN4ZL/RH+Z'=:U+26^FIQ0`*$]1*]&>0_;MX
MISSR/.)"YAVH2RL0[/NDD,C(93(]R"[%R%Z794*ZYY;VLX3.Q.S"V\JC[1.I
MD8L[.S'N7O&I!1%$*IVPBE0;6I)\WM3\A(%0;,'>>R;@CM-E8-2MJ;2F$R%A
MQE0<CTR?#D/*:;4<DNJ<9.L*TAQ"2G2//?:[AM"8_'>Y%*)2K=^5270`'>AV
M2"/UBUK=QEZE!N1O#\G[$1Q8X&!&DA<#<8GLXU)L/Y)=-NB$NA62Y*`%"Q;E
MP[9_-VF30VJO;0W`AV.2,ZO4FH32RLGQ>;M:B/B0A+7D5%LI7Y%664'^U#&R
M8=RYG8(;X+=C^C3R"VOP%].MKWQLOL?-E1A$P6QGW7NN2"2+=/494L;_`$:X
M^77I$#M<\EJJS!15]S-M;5==)=EN4BC5*L*BY-/%$9QR?,<;>"U%&LML$A8R
M"R@9JL^,^U98,MWY.<SX:E0JB0*S[M&<L%_M]LV-K2%TN`H>ULAQ_L!B?SW6
M<S#CP+!IV2YTON6/'>]P1M]<RC:VZQ/I50EH]I.WY7^YW2W5NNXF%Q'F7:%;
MC2;:HKBIC2TR2M$5J'6W6$%*.DS(>DE+:EMK+BCU#M'QS[6?$^)F:7+[N4PD
M&W?9;*O0L;EBXU/<B,:$V/;LH%>CXKV3X+CA%(TZC(1D9B(Q(S;-PT:7=VV:
MX<&-(RL@6^Y!M*_MH.)>R6RS6=@V-0*4XJ,ED3WZ="J%6=3F^"N14@TRI\NQ
MI!;45:U*2`2O/5JWYPG@/CO"JHQ<:-2A?82`YC#G<RQLP9D4N`X`8#6VQ1I6
MU\/B\#`5EA0.&DWC<J64EE?0(B+_`%(IZ$@I&`VV*)44PAAI!S2@`Y@YYJ)&
M7Q$DD`_#\8\\>PCQ,>(WC6S?.YO^]]/K\QH=*R32R-HQTJMBXJG1A2C"E&%*
M1S>_Y@?&/['/.GYZ^W9A2J';D9DQ^WMP49F3/>$IOASQF2]-TI3ZE8V7LK][
M[`"59C]K(:O/+QPI2S<*484HPI1A2C"E>>.9\1ED,AEX@^.9)SR((RR&7A_Y
M*5[A2C"E45/M)6&RHZRI*0`A9\59:<R$D`'/S\L4?Y$(E[)8"3Y'3K:WT)UZ
M"I^V^W?;TU5(!\P#X@^/Q@Y@_P"8(Q5(!T.HJ2]NE>XC2OPX%E!#9"5^&1/D
M/$9_`KX/\,4IA*T9$)`D^!/Y_D?A]*F0J&NXNM4&F7TJUN/D^)S0/:21Y_M9
M!/C\0\O+%K!C92OW)I2==0-0?WT&OR'3H155Y(BNU%_7\=?WJZQ?U0HPI1A2
MC"E(YO?\P/C']CGG3\]?;LPI2".WK_R4?0$X0_)'Z%?R:^B?QO\`D_\`+7Z0
MWRJ^3/\`*.S?=_O_`*?A[]]W:>I^SU//"E++_$\^H;]X/"E'XGGU#?O!X4H_
M$\^H;]X/"E'XGGU#?O!X4H_$\^H;]X/"E'XGGU#?O!X4H_$\^H;]X/"E'XGG
MU#?O!X4H_$\^H;]X/"E'XGGU#?O!X4H_$\^H;]X/"E'XGGU#?O!X4H_$\^H;
M]X/"E'XGGU#?O!X4H_$\^H;]X/"E'XGGU#?O!X4H_$\^H;]X/"E)%O#_`)+/
MIL<=NO\`07^7'T4.9ONK3_/?Y+^X/YM<#O?_`%M7_7O>OO?W9TM/^V]/U-7[
&S1A2O__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
