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<td align="left" valign="top" width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp; </font></td>
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<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">e)</font></div></td>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">The Company received equipment valued at approximately $50,000 in lieu of payment of note receivable which was previously written-off.</font></div></td></tr></tbody></table>
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<div><font>e)</font></div></td>
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<div><font>The Company received equipment valued at approximately $50,000 in lieu of payment of note receivable which was previously written-off.</font></div></td></tr></tbody></table>