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 <p>&nbsp;</p>
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 <p>&nbsp;</p>
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 <p>&nbsp;</p>
 </td>
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 <p><font size="1">&nbsp;</font></p>
 </td>
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 <p><font size="2">(d)</font></p>
 </td>
 <td valign="TOP">
 <p><font size="2"><u>Recent Accounting Standards Affecting the Company</u></font></p>
 </td>
 </tr>
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 <td valign="TOP">
 <p><font size="1">&nbsp;</font></p>
 </td>
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 <p><font size="1">&nbsp;</font></p>
 </td>
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 <p><font size="1">&nbsp;</font></p>
 </td>
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 <p><font size="1">&nbsp;</font></p>
 </td>
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 <p><font size="1">&nbsp;</font></p>
 </td>
 <td valign="TOP">
 <p><font size="2">In September 2006, the Financial Accounting
 Standards Board (“FASB”) issued Statement of Financial Accounting Standards
 (“SFAS”) No.&nbsp;157, “Fair Value Measurements” (“SFAS No.&nbsp;157”), which
 defines fair value, establishes a framework for measuring fair value in
 generally accepted accounting principles, and expands disclosures about fair
 value measurements. This statement does not require any new fair value
 measurements, but provides guidance on how to measure fair value by providing
 a fair value hierarchy used to classify the source of the information. SFAS
 No.&nbsp;157 is effective for fiscal years beginning after November&nbsp;15,
 2007, and all interim periods within those fiscal years. In February 2008,
 the FASB released FASB Staff Position (FSP FAS 157-2 – Effective Date of FASB
 Statement No.&nbsp;157) which delays the effective date of SFAS No.&nbsp;157
 for all non-financial assets and non-financial liabilities, except those that
 are recognized or disclosed at fair value in the financial statements on a
 recurring basis (at least annually), to fiscal years beginning after
 November&nbsp;15, 2008 and interim periods within those fiscal years. The
 adoption of SFAS No. 157 during the interim period ended June 30, 2008, with
 respect to the Company’s financial assets and liabilities did not have a
 material impact on the Company’s Consolidated Financial Statements. The
 Company is currently assessing the potential impact that adoption of this
 statement would have on its non-financial assets and non-financial
 liabilities, if any.</font></p>
 </td>
 </tr>
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 <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>
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 <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="2">In February&nbsp;2007, the FASB issued SFAS
 No.&nbsp;159, “Fair Value Option for Financial Assets and Liabilities” (“SFAS
 No.&nbsp;159”). SFAS No.&nbsp;159 allows companies to choose, at specific
 election dates, to measure eligible financial assets and liabilities that are
 not otherwise required to be measured at fair value, at fair value. Under
 SFAS No.&nbsp;159, companies would report unrealized gains and losses for which
 the fair value option has been elected in earnings at each subsequent
 reporting date, and recognize up-front costs and fees related to those items
 in earnings as incurred. SFAS No.&nbsp;159 became effective for fiscal years
 beginning after November&nbsp;15, 2007. The adoption of SFAS No.&nbsp;159
 during the interim period ended June 30, 2008 did not have a material impact
 on the Company’s Consolidated Financial Statements due to its election not to
 measure eligible financial assets and liabilities that are not otherwise
 required to be measured at fair value, at fair value.</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><font size="2">In December 2007, the FASB issued SFAS No.&nbsp;141
 (revised 2007), Business Combinations, which replaces SFAS No 141. The
 statement retains the purchase method of accounting for acquisitions, but requires
 a number of changes, including changes in the way assets and liabilities are
 recognized in the purchase accounting. It also changes the recognition of
 assets acquired and liabilities assumed arising from contingencies, requires
 the capitalization of in-process research and development at fair value, and
 requires the expensing of acquisition-related costs as incurred. SFAS
 No.&nbsp;141R is effective for&nbsp;business combinations for which the
 acquisition date is on or after the beginning of the first annual reporting
 period beginning on or after December 15, 2008. 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>
</tbody></table>
<table>
<tbody><tr>
<td>
<p> </p>
</td>
<td>
<p> </p>
</td>
<td>
<p> </p>
</td>
</tr>
<tr>
<td>
<p><font> </font></p>
</td>
<td>
<p><font>(d)</font></p>
</td>
<td>
<p><font><u>Recent Accounting Standards Affecting the Company</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 September 2006, the Financial Accounting
 Standards Board (“FASB”) issued Statement of Financial Accounting Standards
 (“SFAS”) No. 157, “Fair Value Measurements” (“SFAS No. 157”), which
 defines fair value, establishes a framework for measuring fair value in
 generally accepted accounting principles, and expands disclosures about fair
 value measurements. This statement does not require any new fair value
 measurements, but provides guidance on how to measure fair value by providing
 a fair value hierarchy used to classify the source of the information. SFAS
 No. 157 is effective for fiscal years beginning after November 15,
 2007, and all interim periods within those fiscal years. In February 2008,
 the FASB released FASB Staff Position (FSP FAS 157-2 – Effective Date of FASB
 Statement No. 157) which delays the effective date of SFAS No. 157
 for all non-financial assets and non-financial liabilities, except those that
 are recognized or disclosed at fair value in the financial statements on a
 recurring basis (at least annually), to fiscal years beginning after
 November 15, 2008 and interim periods within those fiscal years. The
 adoption of SFAS No. 157 during the interim period ended June 30, 2008, with
 respect to the Company’s financial assets and liabilities did not have a
 material impact on the Company’s Consolidated Financial Statements. The
 Company is currently assessing the potential impact that adoption of this
 statement would have on its non-financial assets and non-financial
 liabilities, if any.</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 February 2007, the FASB issued SFAS
 No. 159, “Fair Value Option for Financial Assets and Liabilities” (“SFAS
 No. 159”). SFAS No. 159 allows companies to choose, at specific
 election dates, to measure eligible financial assets and liabilities that are
 not otherwise required to be measured at fair value, at fair value. Under
 SFAS No. 159, companies would report unrealized gains and losses for which
 the fair value option has been elected in earnings at each subsequent
 reporting date, and recognize up-front costs and fees related to those items
 in earnings as incurred. SFAS No. 159 became effective for fiscal years
 beginning after November 15, 2007. The adoption of SFAS No. 159
 during the interim period ended June 30, 2008 did not have a material impact
 on the Company’s Consolidated Financial Statements due to its election not to
 measure eligible financial assets and liabilities that are not otherwise
 required to be measured at fair value, at fair value.</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 December 2007, the FASB issued SFAS No. 141
 (revised 2007), Business Combinations, which replaces SFAS No 141. The
 statement retains the purchase method of accounting for acquisitions, but requires
 a number of changes, including changes in the way assets and liabilities are
 recognized in the purchase accounting. It also changes the recognition of
 assets acquired and liabilities assumed arising from contingencies, requires
 the capitalization of in-process research and development at fair value, and
 requires the expensing of acquisition-related costs as incurred. SFAS
 No. 141R is effective for business combinations for which the
 acquisition date is on or after the beginning of the first annual reporting
 period beginning on or after December 15, 2008. 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>
</tbody></table>