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<tbody><tr style="vertical-align: top; font: 10pt Times New Roman, Times, Serif">

    <td style="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">&nbsp;</font></td>

    <td style="width: 0.5in; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">(i)</font></td>

    <td style="font: 10pt Times New Roman, Times, Serif; text-decoration: underline; text-align: justify"><font style="font-size: 10pt">Recent

    Accounting Standards Affecting the Company</font></td></tr>

<tr style="vertical-align: top; font: 10pt Times New Roman, Times, Serif">

    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">&nbsp;</font></td>

    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">&nbsp;</font></td>

    <td style="text-align: justify; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">&nbsp;</font></td></tr>

<tr style="vertical-align: top; font: 10pt Times New Roman, Times, Serif">

    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">&nbsp;</font></td>

    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">&nbsp;</font></td>

    <td style="font: italic 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-size: 10pt">Testing Indefinite-Lived

    Intangible Assets for Impairment</font></td></tr>

<tr style="vertical-align: top; font: 10pt Times New Roman, Times, Serif">

    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">&nbsp;</font></td>

    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">&nbsp;</font></td>

    <td style="text-align: justify; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">&nbsp;</font></td></tr>

<tr style="vertical-align: top; font: 10pt Times New Roman, Times, Serif">

    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">&nbsp;</font></td>

    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">&nbsp;</font></td>

    <td style="text-align: justify; font: 10pt Times New Roman, Times, Serif"><font style="font-size: 10pt">In July 2012, the

    FASB issued ASU 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment.” Similar to ASU 2011-08,

    “Intangibles - Goodwill and Other (Topic 250) - Testing Goodwill for Impairment”, ASU 2012-02 addresses the growing

    cost and complexity of performing an analysis to evaluate indefinite-lived intangible assets (other than goodwill) for impairment.

    This ASU introduces qualitative factors which would simplify the analysis if facts and circumstances make it more-likely-than-not

    that impairment would not exist. Rather than requiring a purely quantitative impairment test, the ASU provides entities with

    the option to first examine qualitative factors to make this determination. Factors to be considered would include, but are

    not limited to:</font></td></tr>

</tbody></table>
<table>
<tbody><tr>
<td><font> </font></td>
<td><font>(i)</font></td>
<td><font>Recent

    Accounting Standards Affecting the Company</font></td></tr>
<tr>
<td><font> </font></td>
<td><font> </font></td>
<td><font> </font></td></tr>
<tr>
<td><font> </font></td>
<td><font> </font></td>
<td><font>Testing Indefinite-Lived

    Intangible Assets for Impairment</font></td></tr>
<tr>
<td><font> </font></td>
<td><font> </font></td>
<td><font> </font></td></tr>
<tr>
<td><font> </font></td>
<td><font> </font></td>
<td><font>In July 2012, the

    FASB issued ASU 2012-02, “Testing Indefinite-Lived Intangible Assets for Impairment.” Similar to ASU 2011-08,

    “Intangibles - Goodwill and Other (Topic 250) - Testing Goodwill for Impairment”, ASU 2012-02 addresses the growing

    cost and complexity of performing an analysis to evaluate indefinite-lived intangible assets (other than goodwill) for impairment.

    This ASU introduces qualitative factors which would simplify the analysis if facts and circumstances make it more-likely-than-not

    that impairment would not exist. Rather than requiring a purely quantitative impairment test, the ASU provides entities with

    the option to first examine qualitative factors to make this determination. Factors to be considered would include, but are

    not limited to:</font></td></tr>
</tbody></table>