<table>
<tbody><tr style="font-size:1px">
<td width="5%" valign="TOP">
<p>&nbsp;</p>
</td>
<td width="5%" valign="TOP">
<p>&nbsp;</p>
</td>
<td width="90%" valign="TOP">
<p>&nbsp;</p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="2">(2)</font></p>
</td>
<td colspan="2" valign="TOP">
<p><font size="2"><u>Summary of
  Significant Accounting Policies (Continued)</u></font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="2">(p)</font></p>
</td>
<td valign="TOP">
<p><font size="2"><u>Recent
  Accounting Standards Affecting the Company (continued)</u></font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p align="JUSTIFY"><font size="2">In May 2008,
  the FASB issued Statement No. 162, “The Hierarchy of Generally Accepted
  Accounting Principles” (“SFAS 162”). The new standard is intended to improve
  financial reporting by identifying a consistent framework, or hierarchy, for
  selecting accounting principles to be used in preparing financial statements
  that are presented in conformity with U.S. generally accepted accounting
  principles (GAAP) for nongovernmental entities. Prior to the issuance of SFAS
  162, GAAP hierarchy was defined in the American Institute of Certified Public
  Accountants (AICPA) Statement on Auditing Standards (SAS) No. 69, The Meaning of Present Fairly in
  Conformity With Generally Accepted Accounting Principles.</font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p align="JUSTIFY"><font size="2">SFAS 162 is
  effective 60 days following the SEC’s approval of the Public Company
  Accounting Oversight Board Auditing amendments to AU Section 411, The
  Meaning of Present Fairly in Conformity with Generally Accepted
  Accounting Principles. Management currently believes that the adoption of
  this statement will not have a material impact on the Company’s financial
  statements.</font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="2">(q)</font></p>
</td>
<td valign="TOP">
<p><font size="2"><u>Reclassifications</u></font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p align="JUSTIFY"><font size="2">Certain
  amounts as previously reported have been reclassified to conform to current
  year presentation.</font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="2">(3)</font></p>
</td>
<td colspan="2" valign="TOP">
<p><font size="2"><u>Property and
  Equipment</u></font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
</tr>
<tr>
<td valign="TOP">
<p><font size="1">&nbsp;</font></p>
</td>
<td colspan="2" valign="TOP">
<p><font size="2">Property and
  equipment consist of the following:</font></p>
</td>
</tr>
</tbody></table>
<table>
<tbody><tr>
<td>
<p> </p>
</td>
<td>
<p> </p>
</td>
<td>
<p> </p>
</td>
</tr>
<tr>
<td>
<p><font>(2)</font></p>
</td>
<td>
<p><font><u>Summary of
  Significant Accounting Policies (Continued)</u></font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font>(p)</font></p>
</td>
<td>
<p><font><u>Recent
  Accounting Standards Affecting the Company (continued)</u></font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font>In May 2008,
  the FASB issued Statement No. 162, “The Hierarchy of Generally Accepted
  Accounting Principles” (“SFAS 162”). The new standard is intended to improve
  financial reporting by identifying a consistent framework, or hierarchy, for
  selecting accounting principles to be used in preparing financial statements
  that are presented in conformity with U.S. generally accepted accounting
  principles (GAAP) for nongovernmental entities. Prior to the issuance of SFAS
  162, GAAP hierarchy was defined in the American Institute of Certified Public
  Accountants (AICPA) Statement on Auditing Standards (SAS) No. 69, The Meaning of Present Fairly in
  Conformity With Generally Accepted Accounting Principles.</font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font>SFAS 162 is
  effective 60 days following the SEC’s approval of the Public Company
  Accounting Oversight Board Auditing amendments to AU Section 411, The
  Meaning of Present Fairly in Conformity with Generally Accepted
  Accounting Principles. Management currently believes that the adoption of
  this statement will not have a material impact on the Company’s financial
  statements.</font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font>(q)</font></p>
</td>
<td>
<p><font><u>Reclassifications</u></font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font>Certain
  amounts as previously reported have been reclassified to conform to current
  year presentation.</font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
</tr>
<tr>
<td>
<p><font>(3)</font></p>
</td>
<td>
<p><font><u>Property and
  Equipment</u></font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
<td>
<p><font> </font></p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font>Property and
  equipment consist of the following:</font></p>
</td>
</tr>
</tbody></table>