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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B>As filed with the Securities and Exchange Commission on
    February&#160;26, 2010</B>
</DIV>

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    <B><!-- /XBRL,dc -->Registration
    <FONT style="white-space: nowrap">No.&#160;333-&#160;&#160;&#160;&#160;&#160;&#160;</FONT></B>
</DIV>

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<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

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    <B><FONT style="font-size: 14pt">UNITED STATES SECURITIES AND
    EXCHANGE COMMISSION<BR>
    </FONT><FONT style="font-size: 12pt">Washington,&#160;D.C.
    20549</FONT></B>
</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

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<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

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    <B><FONT style="font-size: 16pt"><FONT style="white-space: nowrap">Form&#160;S-1</FONT></FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 11pt">REGISTRATION
    STATEMENT</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 11pt">UNDER</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 11pt">THE SECURITIES ACT OF
    1933</FONT></B>
</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

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<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 22pt">GREEN DOT CORPORATION</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">(Exact name of Registrant as
    specified in its charter)</FONT></I>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
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<TR style="font-size: 1pt" valign="bottom">
    <TD width="34%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="32%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="32%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
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<TD nowrap align="center" valign="top">
    <B>Delaware</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>7389</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>93-4766827</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    <I><FONT style="font-size: 8pt">(State or other jurisdiction
    of<BR>
    incorporation or organization)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 8pt">(Primary standard industrial<BR>
    classification code number)</FONT></I>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <I><FONT style="font-size: 8pt">(I.R.S. employer<BR>
    identification no.) </FONT></I>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">605 East Huntington Drive,
    Suite&#160;205</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">Monrovia, CA 91016</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">(626)&#160;739-3942</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">(Address, including zip code,
    and telephone number, including area code, of Registrant&#146;s
    principal executive offices)</FONT></I>
</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

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<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">John C. Ricci</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">General Counsel</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">Green Dot Corporation</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">605 East Huntington Drive,
    Suite&#160;205</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">Monrovia, CA 91016</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">(626)&#160;739-3942</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I><FONT style="font-size: 8pt">(Name, address, including zip
    code, and telephone number, including area code, of agent for
    service)</FONT></I>
</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><I>Copies to:</I></B>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
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<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="49%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
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<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Laird H. Simons III,&#160;Esq.</B>&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>William V. Fogg,&#160;Esq.</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>William L. Hughes,&#160;Esq.</B>&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>Daniel A. O&#146;Shea,&#160;Esq.</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>James D. Evans,&#160;Esq.</B>&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>Cravath, Swaine &#038; Moore LLP</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Fenwick&#160;&#038; West LLP</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    <B>Worldwide Plaza</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>801 California Street</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>825 Eighth Avenue</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Mountain View, CA 94041</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>New York, NY 10019</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B><FONT style="white-space: nowrap">(650)&#160;988-8500</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>(212) 474-1000</B>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B>Approximate date of commencement of proposed sale to the
    public:</B>&#160;&#160;As soon as practicable after the
    effective date of this Registration Statement.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    If any of the securities being registered on this Form are to be
    offered on a delayed or continuous basis pursuant to
    Rule&#160;415 under the Securities Act of 1933, check the
    following
    box.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    If this Form is filed to register additional securities for an
    offering pursuant to Rule&#160;462(b) under the Securities Act
    of 1933, check the following box and list the Securities Act
    registration statement number of the earlier effective
    registration statement for the same
    offering.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT><U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    If this Form is a post-effective amendment filed pursuant to
    Rule&#160;462(c) under the Securities Act of 1933, check the
    following box and list the Securities Act registration statement
    number of the earlier effective registration statement for the
    same
    offering.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT><U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    If this Form is a post-effective amendment filed pursuant to
    Rule&#160;462(d) under the Securities Act of 1933, check the
    following box and list the Securities Act registration statement
    number of the earlier effective registration statement for the
    same
    offering.&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT><U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Indicate by check mark whether the registrant is a large
    accelerated filer, an accelerated filer, a non-accelerated
    filer, or a smaller reporting company. See the definitions of
    &#147;large accelerated filer,&#148; &#147;accelerated
    filer&#148; and &#147;smaller reporting company&#148; in
    <FONT style="white-space: nowrap">Rule&#160;12b-2</FONT>
    of the Exchange Act. (Check one):
</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="22%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="13%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="34%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="22%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Large&#160;accelerated&#160;filer&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Accelerated&#160;filer&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Non-accelerated&#160;filer&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#254;
    </FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    Smaller&#160;reporting&#160;company&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    (Do&#160;not&#160;check&#160;if&#160;a&#160;smaller&#160;reporting&#160;company)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 9pt">CALCULATION OF REGISTRATION
    FEE</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="70%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutterright -->
    <TD width="13%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutterright -->
    <TD width="13%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Proposed Maximum<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 3px double #000000">
    <B>Amount of<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Title of Each Class of<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Registration<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Securities to be Registered</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Offering Price(1)</B>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Fee</B>
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="bottom" style="border-top: 1px solid #000000">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Class&#160;A Common Stock, par value $0.001 per share
</DIV>
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
    $150,000,000
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt; border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-top: 1px solid #000000">
    $10,695.00
</TD>
</TR>
<TR style="font-size: 1pt">
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="border-top: 3px double #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 9pt">(1)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">Estimated solely for the purpose of
    calculating the amount of the registration fee pursuant to
    Rule&#160;457(o) under the Securities Act of 1933.
    </FONT></TD>
</TR>

</TABLE>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 3%; font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B>The Registrant hereby amends this Registration Statement on
    such date or dates as may be necessary to delay its effective
    date until the Registrant shall file a further amendment that
    specifically states that this Registration Statement shall
    thereafter become effective in accordance with Section&#160;8(a)
    of the Securities Act of 1933 or until the Registration
    Statement shall become effective on such date as the Commission,
    acting pursuant to said Section&#160;8(a), may determine.</B>
</DIV>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></CENTER>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 94%; margin-left: 3%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE style="color: #FF0000" width="100%" border="1" cellpadding="5"><TR><TD>
<FONT style="font-size: 10pt; font-family: Arial, Helvetica; color: #E8112D">The
information in this preliminary prospectus is not complete and
may be changed. Neither we nor the selling stockholders may sell
these securities until the registration statement filed with the
Securities and Exchange Commission is effective. This
preliminary prospectus is not an offer to sell these securities,
and neither we nor the selling stockholders are soliciting an
offer to buy these securities, in any state where the offer or
sale is not permitted.<BR>
</FONT>
</TD></TR></TABLE>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>
</DIV><!-- END PAGE WIDTH -->
<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
</DIV><!-- END PAGE WIDTH -->
<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 12pt; font-family: 'Times New Roman', Times; color: #E8112D">PRELIMINARY
    PROSPECTUS</FONT></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-family: 'Times New Roman', Times; color: #E8112D">Subject
    to completion, dated February&#160;26, 2010</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Shares</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <IMG src="v55076orv5507642.gif" alt="(COMPANY LOGO)"><B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">
    </FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">Class&#160;A
    Common Stock</FONT></B>
</DIV>

<DIV style="margin-top: 27pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <FONT style="font-family: 'Times New Roman', Times">This is an
    initial public offering of shares of the Class&#160;A common
    stock of Green Dot Corporation. We are
    selling&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock, and the selling stockholders
    are
    selling&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock. We will not receive any
    proceeds from the sale of shares of our Class&#160;A common
    stock by the selling stockholders. The estimated initial public
    offering price is between $&#160;&#160;&#160;&#160;&#160; and
    $&#160;&#160;&#160;&#160;&#160; per share.
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <FONT style="font-family: 'Times New Roman', Times">We have two
    classes of authorized common stock, Class&#160;A common stock
    and Class&#160;B common stock. The rights of the holders of our
    Class&#160;A common stock and our Class&#160;B common stock are
    identical, except with respect to voting and conversion. Each
    share of our Class&#160;A common stock will be entitled to one
    vote per share. Each share of our Class&#160;B common stock will
    be entitled to ten votes per share and will be convertible at
    any time into one share of our Class&#160;A common stock.
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <FONT style="font-family: 'Times New Roman', Times">We intend to
    apply for the listing of our Class&#160;A common stock on the
    NYSE under the symbol
    &#145;&#145;&#160;&#160;&#160;&#160;&#160;.&#148;
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="83%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><I><FONT style="font-family: 'Times New Roman', Times">Per
    Share</FONT></I></B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B><I><FONT style="font-family: 'Times New Roman', Times">Total</FONT></I></B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="bottom" style="font-family: 'Times New Roman', Times">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Initial public offering price
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="font-family: 'Times New Roman', Times">
    $
</TD>
<TD nowrap align="center" valign="bottom" style="font-family: 'Times New Roman', Times">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="font-family: 'Times New Roman', Times">
    $
</TD>
<TD nowrap align="center" valign="bottom" style="font-family: 'Times New Roman', Times">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom" style="font-family: 'Times New Roman', Times">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Underwriting discounts and commissions
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="font-family: 'Times New Roman', Times">
    $
</TD>
<TD nowrap align="center" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="font-family: 'Times New Roman', Times">
    $
</TD>
<TD nowrap align="center" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom" style="font-family: 'Times New Roman', Times">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Proceeds to Green Dot, before expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="font-family: 'Times New Roman', Times">
    $
</TD>
<TD nowrap align="center" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="font-family: 'Times New Roman', Times">
    $
</TD>
<TD nowrap align="center" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom" style="font-family: 'Times New Roman', Times">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Proceeds to the selling stockholders, before expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="font-family: 'Times New Roman', Times">
    $
</TD>
<TD nowrap align="center" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom" style="font-family: 'Times New Roman', Times">
    $
</TD>
<TD nowrap align="center" valign="bottom" style="font-family: 'Times New Roman', Times">

</TD>
<TD nowrap align="left" valign="bottom" style="font-family: 'Times New Roman', Times">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <FONT style="font-family: 'Times New Roman', Times">Green Dot
    and the selling stockholders have granted the underwriters an
    option for a period of 30&#160;days from the date of this
    prospectus to purchase from them up
    to&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    additional shares of our Class&#160;A common stock to cover
    over-allotments, if any.
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-family: 'Times New Roman', Times">Investing
    in our Class&#160;A common stock involves a high degree of risk.
    See &#147;Risk Factors&#148; beginning on page&#160;9 of this
    prospectus.</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <FONT style="font-family: 'Times New Roman', Times">Neither the
    Securities and Exchange Commission nor any state securities
    commission has approved or disapproved of these securities or
    passed on the adequacy or accuracy of this prospectus. Any
    representation to the contrary is a criminal offense.
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <FONT style="font-family: 'Times New Roman', Times">Delivery of
    the shares of our Class&#160;A common stock will be made on or
    about&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2010.
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="50%"></TD>
    <TD width="50%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">    <B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">J.P.
    Morgan</FONT></B></TD>
    <TD nowrap align="right">    <B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">
    Morgan Stanley</FONT></B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 20%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="50%"></TD>
    <TD width="50%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">    <B><FONT style="font-size: 12pt; font-family: 'Times New Roman', Times">Piper
    Jaffray</FONT></B></TD>
    <TD nowrap align="right">    <B><FONT style="font-size: 12pt; font-family: 'Times New Roman', Times">
    UBS Investment Bank</FONT></B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <FONT style="font-family: 'Times New Roman', Times">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2010
    </FONT>
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 89%; margin-left: 5%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
</DIV><!-- END PAGE WIDTH -->
<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">TABLE OF
    CONTENTS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left">
<!-- TOC -->
</DIV>

<DIV align="left">
<A name="tocpage"></A>
</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="97%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Page</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#101'>Prospectus Summary</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#102'>Risk Factors</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#103'>Special Note Regarding Forward-Looking
    Statements</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#104'>Industry and Market Data</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#105'>Use of Proceeds</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#106'>Dividend Policy</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#107'>Capitalization</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#108'>Dilution</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#109'>Selected Consolidated Financial Data</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#110'>Management&#146;s Discussion and Analysis of
    Financial Condition and Results of Operations</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#111'>Business</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    56
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#112'>Management</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    74
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#113'>Executive Compensation</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    80
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#114'>Transactions with Related Parties, Founders and
    Control Persons</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    96
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#115'>Principal and Selling Stockholders</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    98
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#116'>Description of Capital Stock</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    102
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#117'>Shares Eligible for Future Sale</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    107
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#118'>Underwriting</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    110
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#119'>Legal Matters</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    114
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#120'>Experts</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    114
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#121'>Where You Can Find Additional Information</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    114
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#122'>Index to Consolidated Financial Statements</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    F-1
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    You should rely only on the information contained in this
    prospectus or in any free writing prospectus prepared by or on
    behalf of us and delivered or made available to you. Neither we
    nor the selling stockholders have authorized anyone to provide
    you with information different from that contained in this
    prospectus. We and the selling stockholders are offering to
    sell, and seeking offers to buy, shares of our Class&#160;A
    common stock only in jurisdictions where offers and sales are
    permitted. The information contained in this prospectus is
    accurate only as of the date of this prospectus, regardless of
    the time of delivery of this prospectus or of any sale of our
    Class&#160;A common stock. Our business, financial condition,
    results of operations and prospects may have changed since that
    date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    No action is being taken in any jurisdiction outside the United
    States to permit a public offering of our Class&#160;A common
    stock or possession or distribution of this prospectus in that
    jurisdiction. Persons who come into possession of this
    prospectus in jurisdictions outside the United States are
    required to inform themselves about and to observe any
    restrictions as to this offering and the distribution of this
    prospectus applicable to that jurisdiction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Until&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2010, all dealers that buy, sell or trade in our Class&#160;A
    common stock, whether or not participating in this offering, may
    be required to deliver a prospectus. This is in addition to the
    dealers&#146; obligation to deliver a prospectus when acting as
    underwriters and with respect to their unsold allotments or
    subscriptions.
</DIV>
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</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='101'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">PROSPECTUS
    SUMMARY</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>This summary highlights selected information contained
    elsewhere in this prospectus. This summary does not contain all
    the information you should consider before investing in our
    Class&#160;A common stock. You should read the entire prospectus
    carefully, including the section entitled &#147;Risk
    Factors&#148; and our consolidated financial statements and
    related notes included elsewhere in this prospectus, before
    making an investment in our Class&#160;A common stock.</I>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Green Dot is a leading prepaid financial services company
    providing simple, low-cost and convenient money management
    solutions to a broad base of U.S.&#160;consumers. We believe
    that we are the leading provider of general purpose reloadable
    prepaid debit cards in the United States and that our Green Dot
    Network is the leading prepaid reload network in the United
    States. We sell our cards and offer our reload services
    nationwide at approximately 50,000 retail stores, which provide
    consumers convenient access to our products and services. Our
    proprietary technology platform, Green PlaNET, enables real-time
    transactions in a secure environment. The combination of our
    innovative products, broad retail distribution and proprietary
    technology creates powerful network effects, which we believe
    enhance the value we deliver to our customers, retail
    distributors and other participants in our network.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We were an early pioneer in the development of general purpose
    reloadable prepaid debit cards, or GPR cards, and associated
    reload services, which collectively we refer to as prepaid
    financial services. GPR cards are designed for general spending
    purposes and can be used anywhere the cards&#146; applicable
    payment network, such as Visa or MasterCard, is accepted, but,
    unlike gift cards, can be reloaded with additional funds for
    ongoing, long-term use. We believe that we are the leading
    provider of GPR cards in the United States based on the
    2.4&#160;million active cards in our portfolio as of
    October&#160;31, 2009, which we define as cards that have had a
    purchase, reload or ATM transaction during the previous
    <FONT style="white-space: nowrap">90-day</FONT>
    period.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have built strong distribution and marketing relationships
    with many significant retail chains, including Walmart,
    Walgreens, CVS, Rite Aid, Kroger, Radio Shack, K-Mart, Meijer
    and 7-Eleven. These retail chains provide consumers with
    convenient locations to purchase and reload our cards. In
    addition, any holder of a GPR card issued by a member of our
    reload network may reload that card at any one of those
    locations. Currently, there are over 100 third-party programs
    that use our nationwide reload network to facilitate reloading
    by their cardholders. We have also recently entered into an
    agreement with PayPal whereby its customers can add funds to any
    new or existing PayPal account through our reload network at all
    retail locations where we sell our products and services. In
    fiscal 2009, the gross dollar volume loaded to our GPR card and
    reload products was $4.7&#160;billion, an increase of 66% over
    fiscal 2008.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have developed a business model with powerful network
    effects. Growth in the number of our product and service
    offerings or our network participants, which include consumers,
    retail distributors and businesses that accept reloads or
    payments through the Green Dot Network, enhances the value we
    deliver to all network participants. Our proprietary technology
    platform, Green PlaNET, enables network participants to
    communicate and complete transactions on a real-time basis in a
    secure environment and is a central component of our
    network-based business model.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    For the years ended July&#160;31, 2007, 2008 and 2009 and the
    three months ended October&#160;31, 2009, our total operating
    revenues were $83.6&#160;million, $168.1&#160;million,
    $234.8&#160;million and $66.3&#160;million, respectively. In the
    same periods, we generated operating income of
    $1.2&#160;million, $29.2&#160;million, $63.7&#160;million and
    $17.9&#160;million, respectively.
</DIV>
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    <BR>
    1
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Industry
    Overview</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Prepaid cards have emerged as an attractive product within the
    electronic payments industry. They are easy for consumers to
    understand and use because they work in a manner similar to
    traditional debit cards, allowing the cardholder to use a
    conventional plastic card linked to an account established at a
    financial institution. According to Mercator Advisory
    Group&#146;s &#147;Prepaid Market Forecast 2009 to 2012&#148;
    research report, $8.7&#160;billion was loaded onto GPR cards in
    the United States in 2008 and $118.5&#160;billion is expected to
    be loaded onto GPR cards in the United States in 2012,
    reflecting a 92% compound annual growth rate during that
    four-year period. We believe that this growth in the use of GPR
    cards will contribute to a substantial increase in the demand
    for prepaid financial services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The prepaid financial services industry is fragmented and its
    products are relatively early in their life cycles. Vendors
    generally do not have a broad set of product and service
    offerings or capabilities, and no single vendor currently
    provides all of the elements that are necessary to establish and
    operate a GPR card program. We believe this creates a
    significant opportunity for a vertically integrated provider
    with a broad suite of innovative products and services.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Our Competitive
    Strengths</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our combination of innovative products and marketing expertise,
    a known brand name, a nationwide retail distribution presence
    and a proprietary technology platform supports our network-based
    business model and has enabled us to become a leading provider
    of prepaid financial services in the United States. Our
    strengths include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Innovative Product and Marketing Expertise.</I>&#160;&#160;We
    are an innovator in the development, merchandising and marketing
    of prepaid financial services. We believe we were the first
    company to combine the products, technology platform and
    distribution channel required to make retailer-distributed GPR
    cards a viable product offering. Our consumer focus has led us
    to enhance our product packaging and product displays in retail
    locations to educate consumers and promote our products and
    services more effectively. We believe that we have the strongest
    brand in the prepaid financial services industry and we continue
    to build brand awareness using national television advertising.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Leading Retail Distribution.</I>&#160;&#160;We have
    established a nationwide retail distribution network, consisting
    of approximately 50,000 retail store locations, which gives us
    access to the vast majority of the U.S.&#160;population.
    According to Scarborough Research, during the twelve months
    ended October&#160;31, 2009, at least 93% of
    U.S.&#160;households shopped at one or more of the stores of our
    current retail distributors.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Leading Reload Network in the United
    States.</I>&#160;&#160;We believe the Green Dot Network is the
    leading reload network for prepaid cards in the United States.
    We also believe that it can be expanded and adapted to many new
    and evolving applications in the electronic payments industry.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Proprietary Technology Platform.</I>&#160;&#160;Green PlaNET,
    our centralized processing platform, contains a variety of
    proprietary software applications that run our front-end,
    back-end, anti-fraud, regulatory compliance and customer service
    processing systems. It enables us to develop, distribute and
    support a variety of products and services effectively.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Business Model with Powerful Network
    Effects.</I>&#160;&#160;The combination of our broad group of
    products and services, large portfolio of active cards,
    nationwide footprint of retail distributors and proprietary
    technology platform creates powerful network effects. Growth in
    the number of our product and service offerings or network
    participants enhances the value we deliver to all network
    participants. For example, we are able to attract retail
    distributors because of the large number of consumers who
    actively use our reload network. We believe the breadth and
    depth of our network would be difficult to replicate and
    represents a significant competitive advantage, as well as a
    barrier to entry for potential competitors.
</TD>
</TR>

</TABLE>
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    <BR>
    2
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Vertical Integration.</I>&#160;&#160;We believe that we are
    more vertically integrated than our competitors, based on our
    distribution capabilities, processing platform, program
    management skills and proprietary reload network. This
    integration has allowed us to reduce costs across our operations
    and, we expect, will continue to provide us with opportunities
    to reduce operational costs in the future. It also enables us to
    scale our business quickly in response to rising demand and to
    ensure high-quality service for our customers.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Strong Regulatory and Compliance
    Infrastructure.</I>&#160;&#160;We employ a proactive approach to
    licensing, regulatory and compliance matters, which we believe
    provides us with an important competitive advantage. We believe
    that this has helped us develop strong relationships with
    leading retailers and financial institutions and has prepared us
    well for changes in the regulatory environment.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Our
    Strategy</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The key components of our strategy include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Increasing the Number of Network
    Participants.</I>&#160;&#160;We intend to enhance the network
    effects in our business model by:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    attracting new users by introducing new products, improving
    current products and promoting our products;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    expanding and strengthening our distribution by establishing
    relationships with additional high-quality retail chains and
    accelerating our entry into new distribution channels;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    adding businesses that accept reloads or payments through, and
    applications for, the Green Dot Network by continuing to enroll
    additional third-party program providers in our reload network
    and to identify additional uses for our reload network&#146;s
    cash transfer technology.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Increasing Revenue per Customer.</I>&#160;&#160;We intend to
    pursue greater revenue per customer by improving cardholder
    retention, increasing card usage and increasing adoption of
    optional revenue-generating services.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Improving Operating Efficiencies.</I>&#160;&#160;We intend to
    leverage our growing scale and vertical integration to generate
    incremental operating efficiencies, which will provide us with
    the flexibility to engage in new marketing programs, reduce
    pricing and make other investments in our business to maintain
    our leadership position.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Broadening Brand and Product Awareness.</I>&#160;&#160;We
    intend to broaden awareness of the Green Dot brand and our
    products and services through national television advertising,
    online advertising and ongoing enhancements to our packaging and
    merchandising.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Acquiring a Bank and Complementary
    Businesses.</I>&#160;&#160;We intend to pursue acquisitions that
    will help us achieve our strategic objectives, particularly
    those designed to improve operating revenue growth and operating
    efficiencies. In February 2010, we entered into a definitive
    agreement to acquire a bank holding company and its subsidiary
    commercial bank, and filed applications with the appropriate
    federal and state regulators seeking approvals for this
    transaction. We believe this acquisition will increase the
    efficiency with which we introduce and manage potential new
    products and services, reduce the risk that we would be
    negatively impacted by changes in the business practices of the
    banks that issue our cards, reduce the sponsorship and service
    fees and other expenses that we pay to third parties, and allow
    us to serve our customers better and more efficiently through a
    more vertically integrated platform.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Risks Affecting
    Us</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our business is subject to numerous risks, which are highlighted
    in the section entitled &#147;Risk Factors&#148; immediately
    following this prospectus summary. These risks represent
    challenges to the
</DIV>
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    <BR>
    3
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    successful implementation of our strategy and to the growth and
    future profitability of our business. Some of these risks
    include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our growth rates may decline in the future;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    operating revenues derived from sales at Walmart and our other
    three largest retail distributors represented 64%, 9%, 8% and
    6%, respectively, of our total operating revenues during the
    three months ended October&#160;31, 2009, and the loss of
    operating revenues from any of these retail distributors would
    adversely affect our business;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our future success depends upon our retail distributors&#146;
    active and effective promotion of our products and services, but
    their interests and operational decisions might not always align
    with our interests;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the industry in which we compete is highly competitive and has a
    number of major participants, which could adversely affect our
    operating revenue growth;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    we operate in a highly regulated environment; failure to comply
    with applicable laws or regulations, or changes in those laws or
    regulations that adversely affect our operating methods, could
    negatively impact our business.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Corporate History
    and Information</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We were incorporated in Delaware in October 1999 as Next Estate
    Communications, Inc. and changed our name to Green Dot
    Corporation in October 2005. Our principal executive offices are
    located at 605 East Huntington Drive, Suite&#160;205, Monrovia,
    California 91016, and our telephone number is
    <FONT style="white-space: nowrap">(626)&#160;739-3942.</FONT>
    Our website address is www.greendot.com. The information on, or
    that can be accessed through, our website is not incorporated by
    reference into this prospectus and should not be considered to
    be a part of this prospectus.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Unless otherwise indicated, the terms &#147;Green Dot,&#148;
    &#147;we,&#148; &#147;us&#148; and &#147;our&#148; refer to
    Green Dot Corporation, a Delaware corporation, together with its
    consolidated subsidiary, the term &#147;prepaid cards&#148;
    refers to prepaid debit cards and the term &#147;our cards&#148;
    refers to our Green Dot-branded and co-branded GPR cards. In
    addition, &#147;prepaid financial services&#148; refers to GPR
    cards and associated reload services, a segment of the prepaid
    card industry.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Green Dot and MoneyPak are our registered trademarks in the
    United States, and the Green Dot logo is our trademark. Other
    trademarks appearing in this prospectus are the property of
    their respective holders.
</DIV>
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    <BR>
    4
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">The
    Offering</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="48%"></TD>
    <TD width="1%"></TD>
    <TD width="51%"></TD>
</TR>

<TR>
    <TD valign="top">
    Class A common stock offered by us</TD>
    <TD></TD>
    <TD valign="bottom">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares</TD>
</TR>

<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Class&#160;A common stock offered by the selling stockholders</TD>
    <TD></TD>
    <TD valign="bottom">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Class&#160;A common stock to be outstanding after this offering</TD>
    <TD></TD>
    <TD valign="bottom">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Class&#160;B common stock to be outstanding after this offering</TD>
    <TD></TD>
    <TD valign="bottom">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares(1)</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Total common stock to be outstanding after this offering</TD>
    <TD></TD>
    <TD valign="bottom">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Voting rights</TD>
    <TD></TD>
    <TD valign="bottom">
    We have two classes of authorized common stock: Class&#160;A
    common stock and Class&#160;B common stock. The rights of the
    holders of our Class&#160;A and Class&#160;B common stock are
    identical, except with respect to voting and conversion. The
    holders of our Class&#160;B common stock are entitled to 10
    votes per share, and the holders of our Class&#160;A common
    stock are entitled to one vote per share. The holders of our
    Class&#160;A common stock and Class&#160;B common stock will
    vote together as a single class on all matters submitted to a
    vote of our stockholders, unless otherwise required by law. Each
    share of our Class&#160;B common stock is convertible into one
    share of our Class&#160;A common stock at any time and will
    convert automatically upon certain transfers or the date that
    the total number of shares of Class&#160;B common stock
    outstanding represents less than 10% of the total number of
    shares of Class&#160;A and Class&#160;B common stock
    outstanding. See &#147;Description of Capital Stock.&#148;</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Use of proceeds</TD>
    <TD></TD>
    <TD valign="bottom">
    We expect to use the net proceeds of this offering for general
    corporate purposes, including working capital and capital
    expenditures. We may also use a portion of the net proceeds to
    acquire or invest in complementary businesses, products,
    services, technologies or assets. We will not receive any
    proceeds from the sale of shares by the selling stockholders.
    See &#147;Use of Proceeds.&#148;</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Dividends</TD>
    <TD></TD>
    <TD valign="bottom">
    We have never declared or paid any cash dividends on our capital
    stock, and we do not currently intend to pay any cash dividends
    on our Class&#160;A common stock for the foreseeable future.</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    Proposed NYSE symbol</TD>
    <TD></TD>
    <TD valign="bottom">
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="36%"></TD>
    <TD width="1%"></TD>
    <TD width="63%"></TD>
</TR>

<TR>
    <TD valign="top">
    <B>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</B></TD>
    <TD></TD>
    <TD valign="bottom">
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    The shares of our Class&#160;B common stock outstanding after
    this offering will represent
    approximately&#160;&#160;&#160;&#160;&#160;% of the total number
    of shares of our Class&#160;A and Class&#160;B common stock
    outstanding after this offering
    and&#160;&#160;&#160;&#160;&#160;% of the combined voting power
    of our Class&#160;A and Class&#160;B common stock outstanding
    after this offering.</TD>
</TR>

</TABLE>
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    <BR>
    5
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The number of shares of our Class&#160;A and Class&#160;B common
    stock to be outstanding after this offering is based upon shares
    outstanding as of October&#160;31, 2009, and excludes:
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    4,963,547&#160;shares of our Class&#160;B common stock issuable
    upon the exercise of stock options outstanding as of
    October&#160;31, 2009 with a weighted average exercise price of
    $4.25 per share
    (including&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock that we expect to be sold in
    this offering by certain selling stockholders upon the exercise
    of vested stock options with a weighted average exercise price
    of $&#160;&#160;&#160;&#160;&#160; per share);
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    1,392,250&#160;shares of our Class&#160;B common stock issuable
    upon the exercise of stock options granted after
    October&#160;31, 2009 with a weighted average exercise price of
    $20.48 per share;
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    259,584&#160;shares of our Class&#160;B common stock granted as
    restricted stock awards after October&#160;31, 2009;
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    4,567,242&#160;shares of our Class&#160;B common stock issuable
    upon the exercise of warrants outstanding as of October&#160;31,
    2009 with a weighted average exercise price of $22.31 per share,
    including a warrant to purchase up to 4,283,456&#160;shares that
    is exercisable only upon the achievement of performance goals
    specified in our arrangement with PayPal, Inc.;&#160;and
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock reserved for issuance under our
    2010 Equity Incentive Plan, which will become effective on the
    first day that our Class&#160;A common stock is publicly traded,
    as more fully described in &#147;Executive
    Compensation&#160;&#150; Employee Benefit Plans&#160;&#150; 2010
    Equity Incentive Plan.&#148;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Except as otherwise indicated, all information in this
    prospectus assumes:
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the automatic conversion of all outstanding shares of our
    preferred stock into 24,941,521&#160;shares of our Class&#160;B
    common stock and the conversion by the selling stockholders
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;B common stock into a like number of shares of
    our Class&#160;A common stock, in each case immediately prior to
    the completion of this offering;
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the filing of our restated certificate of incorporation and the
    effectiveness of our restated bylaws, which will occur
    immediately following the completion of the offering;&#160;and
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    no exercise by the underwriters of their option to purchase up
    to an
    additional&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock from us and the selling
    stockholders in this offering.
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Summary
    Consolidated Financial and Other Data</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following tables present summary historical financial data
    for our business. You should read this information together with
    &#147;Selected Consolidated Financial Data,&#148;
    &#147;Management&#146;s Discussion and Analysis of Financial
    Condition and Results of Operations&#148; and our consolidated
    financial statements and related notes, each included elsewhere
    in this prospectus.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We derived the statement of operations data for the years ended
    July&#160;31, 2007, 2008 and 2009 from our audited consolidated
    financial statements included elsewhere in this prospectus. We
    derived the statement of operations data for the years ended
    July&#160;31, 2005 and 2006 from our unaudited consolidated
    financial statements not included in this prospectus. We derived
    the statement of operations data for the three months ended
    October&#160;31, 2008 and 2009 and the balance sheet data as of
    October&#160;31, 2009 from our unaudited consolidated financial
    statements included elsewhere in this prospectus, which have
    been prepared on a consistent basis with our audited
    consolidated financial statements. In the opinion of our
    management, these unaudited financial data reflect all
    adjustments, consisting of normal and recurring adjustments,
    necessary for a fair statement of our results for those periods.
    Our historical results are not necessarily indicative of our
    results to be expected in any future period.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The pro forma per share data give effect to the conversion of
    all currently outstanding shares of our convertible preferred
    stock into shares of our Class&#160;B common stock upon the
    closing of this offering, as though the conversion had occurred
    at the beginning of the indicated fiscal period. For further
    information concerning the calculation of pro forma per share
    information, please refer to note&#160;2 and note&#160;12 of our
    notes to consolidated financial statements.
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 7pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="44%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Three Months Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>October&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2005</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" nowrap align="center" valign="bottom">
    <B>(In thousands, except per share amounts)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    <B>Consolidated Statement of Operations Data:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Operating revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Card revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $21,771
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $36,359
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $45,717
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $91,233
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $119,356
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $27,635
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $30,532
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Cash transfer revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,064
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,616
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,419
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,310
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    62,396
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,556
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,807
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Interchange revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,705
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,975
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,488
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,583
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53,064
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,418
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,926
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 23pt">
    Total operating revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39,540
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    66,951
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    83,624
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    168,126
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    234,816
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,609
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    66,265
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Operating expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Sales and marketing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,148
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,660
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,838
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    69,577
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    75,786
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,538
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,165
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Compensation and benefits expenses(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,584
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,499
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,610
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,303
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,096
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,191
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,067
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Processing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,990
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,547
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,809
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,944
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,320
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,297
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,053
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Other general and administrative expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,521
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,077
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,212
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,124
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,944
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,747
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,103
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 23pt">
    Total operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,243
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65,783
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82,469
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    138,948
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    171,146
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,773
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    48,388
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Operating income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,703
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,168
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,155
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29,178
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63,670
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,836
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,877
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Interest income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    300
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    301
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    771
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    665
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    396
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    210
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Interest expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (474
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (823
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (625
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (247
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Income before income taxes
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,877
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    645
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,301
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29,596
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    64,065
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,046
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,937
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Income tax expense (benefit)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    111
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,346
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,261
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,902
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,219
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,533
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,877
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    535
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,647
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,335
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,827
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Dividends, accretion and allocated earnings of preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (367
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,157
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (13,650
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (29,000
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,409
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (7,013
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Net income (loss) allocated to common stockholders
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $(4,877
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $168
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $(510
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $3,685
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $8,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $1,418
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $3,391
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Earnings (loss) per common share:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $(0.48
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.02
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $(0.05
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.34
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.68
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $(0.48
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $(0.05
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.52
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.22
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Weighted-average common shares issued and outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,228
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,873
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,757
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,036
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,026
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,060
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Weighted-average diluted common shares issued and outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,228
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,194
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,154
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,712
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,034
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,318
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Pro forma earnings per common share (unaudited):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $1.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.91
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Pro forma weighted-average shares issued and outstanding
    (unaudited):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36,978
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,002
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,654
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,260
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 9pt">(1)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">Includes stock-based compensation
    expense of $0, $0, $156,000, $1.2&#160;million and
    $2.5&#160;million for the years ended July&#160;31, 2005, 2006,
    2007, 2008 and 2009, respectively, and $586,000 and $712,000 for
    the three months ended October&#160;31, 2008 and 2009,
    respectively.
    </FONT></TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->
</DIV><!-- End box 1 -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<DIV style="width: 100%; height: 9in; border-top: 1px solid #000000; padding-top: 12pt; border-right: 1px solid #000000; padding-right: 12pt; border-bottom: 1px solid #000000; padding-bottom: 12pt; border-left: 1px solid #000000; padding-left: 12pt"><!-- Begin box 1 -->
<!-- XBRL Pagebreak End -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="40%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>October&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2005</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="22" align="center" valign="bottom">
    <B>(Dollars in thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Statistical Data (Unaudited):</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Number of GPR cards activated
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    428,737
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    721,561
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    894,295
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,167,004
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,106,923
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,115,382
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Number of cash transfers
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,262,854
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,055,775
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,992,956
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,153,119
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,084,458
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,766,488
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Number of active cards as of period end(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    289,086
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    428,300
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    625,165
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,270,072
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,056,828
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,368,530
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Gross dollar volume(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $414,910
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $801,956
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $1,134,175
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $2,831,278
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $4,702,914
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $1,586,895
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 9pt">(1)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">Represents the total number of GPR
    cards in our portfolio that have had a purchase, reload or ATM
    withdrawal transaction during the previous
    <FONT style="white-space: nowrap">90-day</FONT>
    period.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 9pt">(2)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">Represents the total dollar volume
    of funds loaded to our GPR card and reload products in the
    specified period.
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table presents unaudited consolidated balance
    sheet data as of October&#160;31, 2009 on:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an actual basis;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an as adjusted basis to give effect to the sale of
    the&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock offered by us in this
    prospectus at an assumed initial public offering price of
    $&#160;&#160;&#160;&#160;&#160; per share, after deducting the
    estimated underwriting discounts and commissions and estimated
    offering expenses.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="76%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="10%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>As of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>October&#160;31, 2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Actual</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As Adjusted(1)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Consolidated Balance Sheet Data (Unaudited):</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Cash, cash equivalents and restricted cash(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    58,623
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Settlement assets(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,813
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,813
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Total assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    161,628
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Settlement obligations(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,813
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,813
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Long-term debt
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Total liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    108,174
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    108,174
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Total stockholders&#146; equity
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 9pt">(1)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">Each $1.00 increase or decrease in
    the assumed initial public offering price of
    $&#160;&#160;&#160;&#160;&#160; per share would increase or
    decrease, respectively, our cash, cash equivalents and
    restricted cash, total assets and total stockholders&#146;
    equity by approximately
    $&#160;&#160;&#160;&#160;&#160;&#160;million, assuming the
    number of shares offered by us, as set forth on the cover page
    of this prospectus, remains the same and after deducting the
    estimated underwriting discounts and commissions.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 9pt">(2)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">Includes $15.4&#160;million of
    restricted cash. We maintain restricted deposits in bank
    accounts to support our line of credit.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 9pt">(3)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 9pt">Our retail distributors collect
    customer funds for purchases of new cards and reloads and then
    remit these funds directly to bank accounts established on
    behalf of those customers by the banks that issue our cards. Our
    retail distributors&#146; remittance of these funds takes an
    average of three business days. Settlement assets represent the
    amounts due from our retail distributors for customer funds
    collected at the point of sale that have not yet been remitted
    to the card issuing banks. Settlement obligations represent the
    amounts that are due from us to the card issuing banks for funds
    collected but not yet remitted by our retail distributors and
    are not funded by our line of credit. We have no control over or
    access to customer funds remitted by our retail distributors to
    the card issuing banks. Customer funds therefore are not our
    assets, and we do not recognize them in our consolidated
    financial statements.
    </FONT></TD>
</TR>

</TABLE>
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    <BR>
    8
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<A name='102'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">RISK
    FACTORS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>This offering and an investment in our Class&#160;A common
    stock involve a high degree of risk. You should carefully
    consider the risks and uncertainties described below, together
    with all of the other information in this prospectus, including
    the consolidated financial statements and related notes
    appearing at the end of this prospectus, before deciding to
    invest in our Class&#160;A common stock. If any of the following
    risks actually occurs, our business, financial condition,
    results of operations and future prospects could be materially
    and adversely affected. In that event, the market price of our
    Class&#160;A common stock could decline and you could lose part
    or all of your investment.</I>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Risks Related to
    Our Business</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Our
    growth rates may decline in the future.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In recent quarters our operating income and net income, while
    still increasing significantly year over year, have not always
    increased sequentially and the rate at which our operating
    revenues have grown has declined. Accordingly, there can be no
    assurance that we will be able to continue our historical growth
    rates in future periods and we would expect seasonal or other
    influences occasionally to cause sequential quarterly declines
    in our operating income and net income. In the near term, our
    continued growth depends in significant part on our ability,
    among other things, to attract new users of our products, to
    expand our reload network and to increase our revenues per
    customer. Since the value we provide to our network participants
    relates in large part to the number of users of, businesses that
    accept reloads or payments through, and applications enabled by,
    the Green Dot Network, our operating revenues could suffer if we
    were unable to increase the number of purchasers of our GPR
    cards, and adapt our reload network to meet consumers&#146;
    evolving needs. We may fail to expand our reload network for a
    number of reasons, including our inability to produce products
    and services that appeal to consumers and lead to increased new
    card sales, our loss of one or more key retail distributors or
    our loss of key, or failure to add, businesses that accept
    reloads or payments through the Green Dot Network, which we
    refer to as network acceptance members.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We may not be able to increase card usage and cardholder
    retention, which have been two important contributors to our
    growth. Currently, many of our cardholders use their cards
    infrequently or do not reload their cards. We may be unable to
    generate increases in card usage or cardholder retention for a
    number of reasons, including our inability to maintain our
    existing distribution channels, the failure of our cardholder
    retention and usage incentives to influence cardholder behavior,
    our inability to predict accurately consumer preferences or
    industry changes and to modify our products and services on a
    timely basis in response thereto, and our inability to produce
    new features and services that appeal to cardholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As the prepaid financial services industry continues to develop,
    our competitors may be able to offer products and services that
    are, or that are perceived to be, substantially similar to or
    better than ours. This may force us to compete on the basis of
    price and to expend significant advertising, marketing and other
    resources in order to remain competitive. Even if we are
    successful at increasing our operating revenues through our
    various initiatives and strategies, we will experience an
    inevitable decline in growth rates as our operating revenues
    increase to higher levels and may experience a decline in
    margins. If our operating revenue growth rates slow materially
    or decline, our business, operating results and financial
    condition could be adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Operating
    revenues derived from sales at Walmart and our other three
    largest retail distributors represented 64%, 9%, 8% and 6%,
    respectively, of our total operating revenues during the three
    months ended October&#160;31, 2009, and the loss of operating
    revenues from any of these retail distributors would adversely
    affect our business.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Most of our operating revenues are derived from prepaid
    financial services sold at our four largest retail distributors.
    As a percentage of total operating revenues, operating revenues
    derived from products and services sold at the store locations
    of Wal-Mart Stores, Inc. (or Walmart) and our three other
    largest retail distributors, as a group, were approximately 64%
    and 23%, respectively, in the three months ended
    October&#160;31, 2009. While we do not expect our 2010 operating
    revenues derived
</DIV>
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    9
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    from products and services sold at Walmart stores to increase as
    a percentage of our total operating revenues, we expect that
    Walmart and our other three largest retail distributors will
    continue to have a significant impact on our annual operating
    revenues in future years. It would be difficult to replace any
    of our large retail distributors, particularly Walmart, and the
    operating revenues derived from sales of our products and
    services at their stores. Accordingly, the loss of Walmart or
    any of our other three largest retail distributors would have a
    material adverse effect on our business, and might have a
    positive impact on the business of one of our competitors if it
    were able to replace us. In addition, any publicity associated
    with the loss of any of our large retail distributors could harm
    our reputation, making it more difficult to attract and retain
    consumers and other retail distributors, and could lessen our
    negotiating power with our remaining and prospective retail
    distributors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our contracts with these retail distributors have terms that
    expire at various dates between 2011 and 2013, subject to early
    termination provisions. There can be no assurance that we will
    be able to continue our relationships with our largest retail
    distributors on the same or more favorable terms in future
    periods or that our relationships will continue beyond the terms
    of our existing contracts with them. Our operating revenues and
    operating results could suffer if, among other things, any of
    our retail distributors renegotiates, terminates or fails to
    renew, or to renew on similar or favorable terms, its agreement
    with us or otherwise chooses to modify the level of support it
    provides for our products.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><I>Our future success depends upon our retail
    distributors&#146; active and effective promotion of our
    products and services, but their interests and operational
    decisions might not always align with our interests.</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Substantially all of our operating revenues are derived from our
    products sold at the stores of our retail distributors. Revenues
    from our retail distributors depend on a number of factors
    outside our control and may vary from period to period. Because
    we compete with many other providers of consumer products for
    placement and promotion of products in the stores of our retail
    distributors, our success depends on our retail distributors and
    their willingness to promote our products and services
    successfully. In general, our contracts with these third parties
    allow them to exercise significant discretion over the placement
    and promotion of our products in their stores, and they could
    give higher priority to the products and services of other
    companies. Accordingly, losing the support of our retail
    distributors may limit or reduce the sales of our cards and
    MoneyPak reload product. Our operating revenues may also be
    negatively affected by our retail distributors&#146; operational
    decisions. For example, if a retail distributor fails to train
    its cashiers to sell our products and services or implements
    changes in its systems that disrupt the integration between
    their systems and ours, we could experience a decline in our
    product sales.  Even if our retail distributors actively and
    effectively promote our products and services, there can be no
    assurance that their efforts will result in growth of our
    operating revenues.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;The
    industry in which we compete is highly competitive, which could
    adversely affect our operating revenue growth.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The prepaid financial services industry is highly competitive
    and includes a variety of financial and non-financial services
    vendors. Our current and potential competitors include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    prepaid card program managers like First Data Corporation (or
    First Data), Netspend Corporation (or Netspend), AccountNow,
    Inc. (or AccountNow), PreCash Inc. (or PreCash) and UniRush, LLC
    (or Rush Card);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reload network providers, such as Visa, Inc. (or Visa),
    MasterCard International Incorporated (or MasterCard), The
    Western Union Company (or Western Union) and MoneyGram
    International, Inc. (or MoneyGram);&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    prepaid card distributors, such as InComm and Blackhawk Network,
    Inc. (or Blackhawk).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Some of these vendors compete with us in more than one of the
    vendor categories described above, while others are primarily
    focused in a single category. In addition, competitors in one
    category have worked or are working with competitors in other
    categories to compete with us. A portion of our cash transfer
    revenues is derived from reloads to cards managed by companies
    that compete with
</DIV>
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    <BR>
    10
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    us as program managers. We also face potential competition from
    retail distributors or from other companies, such as Visa, that
    may in the future decide to compete, or compete more
    aggressively, in the prepaid financial services industry.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We also compete with businesses outside of the prepaid financial
    services industry, including traditional providers of financial
    services, such as banks that offer demand deposit accounts and
    card issuers that offer credit cards, private label retail cards
    and gift cards.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Many existing and potential competitors have longer operating
    histories and greater name recognition than we do. In addition,
    many of our existing and potential competitors are substantially
    larger than we are, may already have or could develop
    substantially greater financial and other resources than we
    have, may offer, develop or introduce a wider range of programs
    and services than we offer or may use more effective advertising
    and marketing strategies than we do to achieve broader brand
    recognition, customer awareness and retail penetration. We may
    also face price competition that results in decreases in the
    purchase and use of our products and services. To stay
    competitive, we may have to increase the incentives that we
    offer to our retail distributors and decrease the prices of our
    products and services, which could adversely affect our
    operating results.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our continued growth depends on our ability to compete
    effectively against existing and potential competitors that seek
    to provide prepaid cards or other electronic payment products
    and services. If we fail to compete effectively against any of
    the foregoing threats, our revenues, operating results,
    prospects for future growth and overall business could be
    materially and adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;We
    operate in a highly regulated environment, and failure by us or
    the businesses that participate in our reload network to comply
    with applicable laws and regulations could have an adverse
    effect on our business, financial position and results of
    operations.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We operate in a highly regulated environment, and failure by us
    or the businesses that participate in our reload network to
    comply with the laws and regulations to which we are subject
    could negatively impact our business. We are subject to state
    money transmission licensing requirements and a wide range of
    federal and other state laws and regulations, which are
    described under &#147;Business&#160;&#150;&#160;Regulation&#148;
    below. In particular, our products and services are subject to
    an increasingly strict set of legal and regulatory requirements
    intended to protect consumers and to help detect and prevent
    money laundering, terrorist financing and other illicit
    activities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Many of these laws and regulations are evolving, unclear and
    inconsistent across various jurisdictions and ensuring
    compliance with them is difficult and costly. For example, with
    increasing frequency, federal and state regulators are holding
    businesses like ours to higher standards of training, monitoring
    and compliance, including monitoring for possible violations of
    laws by the businesses that participate in our reload network.
    Failure by us or those businesses to comply with the laws and
    regulations to which we are subject could result in fines,
    penalties or limitations on our ability to conduct our business,
    or federal or state actions, any of which could significantly
    harm our reputation with network participants, banks that issue
    our cards, customers and regulators, and could materially and
    adversely affect our business, operating results and financial
    condition.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Changes
    in laws and regulations to which we are subject, or may become
    subject to, may increase our costs of operation, decrease our
    operating revenues and disrupt our business.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Changes in laws and regulations may occur that could increase
    our compliance and other costs of doing business, require
    significant systems redevelopment, or render our products or
    services less profitable or obsolete, which could have an
    adverse effect on our results of operations. We could face more
    stringent anti-money laundering rules and regulations, as well
    as more stringent licensing rules and regulations, compliance
    with which could be expensive and time consuming. For example,
    more stringent anti-money laundering regulations could require
    the collection and verification of more information from our
    customers, which could have a material adverse effect on our
    operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Changes in laws and regulations governing the way our products
    and services are sold could adversely affect our ability to
    distribute our products and services and the cost of providing
    those
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    products and services. If onerous regulatory requirements were
    imposed on the sale of our products and services, the
    requirements could lead to a loss of retail distributors, which,
    in turn, could materially and adversely impact our operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In light of current economic conditions, legislators and
    regulators have increased their focus on the banking and
    consumer financial services industry, and there are extensive
    proposals in the U.S. Congress that could substantially change
    the way banks (including card issuing banks) and other financial
    services companies are regulated and able to offer their
    products to consumers. These changes, if made, could have an
    adverse effect on our business, financial position and results
    of operations. For example, changes in the way we or the banks
    that issue our cards are regulated could expose us to increased
    regulatory oversight and litigation. In addition, changes in
    laws and regulations that limit the fees that can be charged or
    the disclosures that must be provided with respect to our
    products and services could increase our costs and decrease our
    revenues.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Our
    pending bank acquisition will, if successful, subject our
    business to significant new, and potentially changing,
    regulatory requirements, which may adversely affect our
    business, financial position and results of
    operations.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Upon consummation of our pending bank acquisition, we will
    become a &#147;bank holding company&#148; under the Bank Holding
    Company Act of 1956, or BHC Act. As a bank holding company, we
    will be required to file periodic reports with, and will be
    subject to comprehensive supervision and examination by, the
    Federal Reserve Board. Among other things, we and the subsidiary
    bank we acquire will be subject to risk-based and leverage
    capital requirements, which could adversely affect our results
    of operations and restrict our ability to grow. These capital
    requirements, as well as other federal laws applicable to banks
    and bank holding companies, could also limit our ability to pay
    dividends. We also would likely incur additional costs
    associated with legal and regulatory compliance as a bank
    holding company, which could adversely affect our results of
    operations. In addition, as a bank holding company, we would
    generally be prohibited from engaging, directly or indirectly,
    in any activities other than those permissible for bank holding
    companies. This restriction might limit our ability to pursue
    future business opportunities we might otherwise consider but
    which might fall outside the activities permissible for a bank
    holding company. See &#147;Business&#160;&#150;
    Regulation&#160;&#150; Bank Regulations.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Moreover, substantial changes to banking laws are possible in
    the near future. There are extensive proposals in the U.S.
    Congress that could substantially change the regulatory
    framework affecting our operations. These changes, if they are
    made, could have an adverse effect on our business, financial
    position and results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;We
    rely on relationships with card issuing banks to conduct our
    business, and our results of operations and financial position
    could be materially and adversely affected if we fail to
    maintain these relationships or we maintain them under new terms
    that are less favorable to us.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Substantially all of our cards are issued by Columbus Bank and
    Trust&#160;Company or GE Money Bank. Our relationships with
    these banks are currently, and will be for the foreseeable
    future, a critical component of our ability to conduct our
    business and to maintain our revenue and expense structure,
    because we are currently unable to issue our own cards, and,
    notwithstanding our pending bank acquisition, will be unable to
    do so for the foreseeable future at the volume necessary to
    conduct our business, if at all. If we lose or do not maintain
    existing banking relationships, we would incur significant
    switching and other costs and expenses and we and users of our
    products and services could be significantly affected, creating
    contingent liabilities for us. As a result, the failure to
    maintain adequate banking relationships could have a material
    adverse effect on our business, results of operations and
    financial condition. Our agreements with the banks that issue
    our cards provide for revenue-sharing arrangements and cost and
    expense allocations between the parties. Changes in the costs
    and expenses that we have to bear under these relationships
    could have a material impact on our operating expenses. In
    addition, we may be unable to maintain adequate banking
    relationships or,
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    following their expiration in 2012 and 2013, renew our
    agreements with the banks that currently issue substantially all
    our cards under terms at least as favorable to us as those
    existing before renewal.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;We
    receive important services from third-party vendors, including
    card processing from Total System Services, Inc. Replacing them
    would be difficult and disruptive to our business.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Some services relating to our business, including fraud
    management and other customer verification services, transaction
    processing and settlement, card production and customer service,
    are outsourced to third-party vendors, such as Genpact
    International, Inc. for call center services and Total System
    Services, Inc. for card processing. It would be difficult to
    replace some of our third-party vendors, particularly Total
    System Services, in a timely manner if they were unwilling or
    unable to provide us with these services in the future, and our
    business and operations could be adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Changes
    in credit card association or other network rules or standards
    set by Visa and MasterCard, or changes in card association and
    debit network fees or products or interchange rates, could
    adversely affect our business, financial position and results of
    operations.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We and the banks that issue our cards are subject to Visa and
    MasterCard association rules that could subject us to a variety
    of fines or penalties that may be levied by the card
    associations or networks for acts or omissions by us or
    businesses that work with us, including card processors, such as
    Total Systems Services, Inc. The termination of the card
    association registrations held by us or any of the banks that
    issue our cards or any changes in card association or other
    network rules or standards, including interpretation and
    implementation of existing rules or standards, that increase the
    cost of doing business or limit our ability to provide our
    products and services could have an adverse effect on our
    business, operating results and financial condition. In
    addition, from time to time, card associations increase the
    organization
    <FONT style="white-space: nowrap">and/or</FONT>
    processing fees that they charge, which could increase our
    operating expenses, reduce our profit margin and adversely
    affect our business, operating results and financial condition.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Furthermore, a substantial portion of our operating revenues is
    derived from interchange fees. For the three months ended
    October&#160;31, 2009, interchange revenues represented 27.0% of
    our total operating revenues, and we expect interchange revenues
    to continue to represent a significant percentage of our total
    operating revenues in the near term. The amount of interchange
    revenues that we earn is highly dependent on the interchange
    rates that Visa and MasterCard unilaterally set and adjust from
    time to time. In light of recent legislation in foreign
    jurisdictions and recent attention generally on interchange
    rates in the United States, interchange rates could decline in
    the future. If that happens, our operating revenues, operating
    results, prospects for future growth and overall business could
    be materially and adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Our
    business could suffer if there is a decline in the use of
    prepaid cards as a payment mechanism or there are adverse
    developments with respect to the prepaid financial services
    industry in general.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As the prepaid financial services industry evolves, consumers
    may find prepaid financial services to be less attractive than
    traditional or other financial services. Consumers might not use
    prepaid financial services for any number of reasons, including
    the general perception of our industry. For example, negative
    publicity surrounding other prepaid financial service providers
    could impact our business and prospects for growth to the extent
    it negatively impacts the perception of prepaid financial
    services among consumers. If consumers do not continue or
    increase their usage of prepaid cards, our operating revenues
    may remain at current levels or decline. Predictions by industry
    analysts and others concerning the growth of the prepaid
    financial services as an electronic payment mechanism, including
    those included in this prospectus, may overstate the growth of
    any industry, segment or category and you should not rely upon
    them. The projected growth may not occur or may occur more
    slowly than estimated. If consumer acceptance of prepaid
    financial services does not continue to develop or develops more
    slowly than expected or if there is a shift in the mix of
    payment forms, such as cash, credit cards, traditional debit
    cards and prepaid cards, away from our products
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    and services, it could have a material adverse effect on our
    financial position and results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Fraudulent
    and other illegal activity involving our products and services
    could lead to reputational damage to us and reduce the use and
    acceptance of our cards and reload network.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Criminals are using increasingly sophisticated methods to
    capture cardholder account information in order to engage in
    illegal activities such as counterfeiting and identity theft. We
    rely upon third parties for some transaction processing
    services, which subjects us to risks related to the
    vulnerabilities of those third parties. A single significant
    incident of fraud, or increases in the overall level of fraud,
    involving our cards and other products and services, could
    result in reputational damage to us, which could reduce the use
    and acceptance of our cards and other products and services,
    cause retail distributors or network acceptance members to cease
    doing business with us or lead to greater regulation that would
    increase our compliance costs.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;A
    data security breach could expose us to liability and protracted
    and costly litigation, and could adversely affect our reputation
    and operating revenues.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We, the banks that issue our cards, our retail distributors,
    network acceptance members and third-party processors receive,
    transmit and store confidential customer and other information
    in connection with the sale and use of our prepaid financial
    services. Our encryption software and the other technologies we
    use to provide security for storage, processing and transmission
    of confidential customer and other information may not be
    effective to protect against data security breaches by third
    parties. The risk of unauthorized circumvention of our security
    measures has been heightened by advances in computer
    capabilities and the increasing sophistication of hackers. The
    banks that issue our cards and our retail distributors, network
    acceptance members and third-party processors also may
    experience similar security breaches involving the receipt,
    transmission and storage of our confidential customer and other
    information. Improper access to our or these third parties&#146;
    systems or databases could result in the theft, publication,
    deletion or modification of confidential customer and other
    information.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    A data security breach of the systems on which sensitive
    cardholder data and account information are stored could lead to
    fraudulent activity involving our products and services,
    reputational damage and claims or regulatory actions against us.
    If we are sued in connection with any data security breach, we
    could be involved in protracted and costly litigation. If
    unsuccessful in defending that litigation, we might be forced to
    pay damages
    <FONT style="white-space: nowrap">and/or</FONT>
    change our business practices or pricing structure, either of
    which could have a material adverse effect on our revenues and
    profitability. We would also likely have to pay (or indemnify
    the banks that issue our cards for) fines, penalties
    <FONT style="white-space: nowrap">and/or</FONT> other
    assessments imposed by Visa or MasterCard as a result of any
    data security breach. Further, a significant data security
    breach could lead to additional regulation, which could impose
    new and costly compliance obligations. In addition, a data
    security breach at one of the banks that issue our cards or at
    our retail distributors, network acceptance members or
    third-party processors could result in significant reputational
    harm to us and cause the use and acceptance of our cards to
    decline, both of which could have a significant adverse impact
    on our operating revenues and future growth prospects.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Litigation
    or investigations could result in significant settlements, fines
    or penalties.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have been the subject of general litigation and regulatory
    oversight in the past, and could be the subject of litigation,
    including class actions, and regulatory or judicial proceedings
    or investigations in the future. The outcome of litigation and
    regulatory or judicial proceedings or investigations is
    difficult to predict. Plaintiffs or regulatory agencies in these
    matters may seek recovery of very large or indeterminate amounts
    or seek to have aspects of our business suspended or modified.
    The monetary and other impact of these actions may remain
    unknown for substantial periods of time. The cost to defend,
    settle or otherwise resolve these matters may be significant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    If regulatory or judicial proceedings or investigations were to
    be initiated against us by private or governmental entities, our
    business, results of operations and financial condition could be
    adversely
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    affected. Adverse publicity that may be associated with
    regulatory or judicial proceedings or investigations could
    negatively impact our relationships with retail distributors,
    network acceptance members and card processors and decrease
    acceptance and use of, and loyalty to, our products and related
    services.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;We
    must adequately protect our brand and the intellectual property
    rights related to our products and services and avoid infringing
    on the proprietary rights of others.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The Green Dot brand is important to our business, and we utilize
    trademark registrations and other tools to protect it. Our
    business would be harmed if we were unable to protect our brand
    against infringement and its value was to decrease as a result.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We rely on a combination of trademark and copyright laws, trade
    secret protection and confidentiality and license agreements to
    protect the intellectual property rights related to our products
    and services. We may unknowingly violate the intellectual
    property or other proprietary rights of others and, thus, may be
    subject to claims by third parties. If so, we may be required to
    devote significant time and resources to defend against these
    claims or to protect and enforce our own rights. Some of our
    intellectual property rights may not be protected by
    intellectual property laws, particularly in foreign
    jurisdictions. The loss of our intellectual property or the
    inability to secure or enforce our intellectual property rights
    or defend successfully against an infringement action could harm
    our business, results of operations, financial condition and
    prospects.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">We are exposed
    to losses from cardholder account overdrafts.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our cardholders can incur charges in excess of the funds
    available in their accounts, and we may become liable for these
    overdrafts. While we decline authorization attempts for amounts
    that exceed the available balance on the card, the application
    of card association rules, the timing of the settlement of
    transactions and the assessment of our monthly maintenance fee,
    among other things, can result in overdrawn accounts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Maintenance fee assessment overdrafts accounted for
    approximately 90% of our aggregate overdrawn account balances in
    fiscal 2009. Maintenance fee assessment overdrafts occur as a
    result of our charging a cardholder, pursuant to our terms and
    conditions, our monthly maintenance fee at a time when he or she
    does not have sufficient funds in his or her account. See
    &#147;Management&#146;s Discussion and Analysis of Financial
    Condition and Results of Operations&#160;&#150;&#160;Critical
    Accounting Policies and Estimates&#160;&#150;&#160;Reserve for
    Uncollectible Overdrawn Accounts.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our remaining overdraft exposure arises primarily from
    late-posting. A late-post occurs when a merchant posts a
    transaction within a card association-permitted timeframe but
    subsequent to our release of the authorization for that
    transaction, as permitted by card association rules. Under card
    association rules, we may be liable for the amount of the
    transaction even if the cardholder has made additional purchases
    in the intervening period and funds are no longer available on
    the card at the time the transaction is posted.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Overdrawn account balances are funded on our behalf by one of
    the banks that issue our cards. We are responsible to our
    issuing banks for any losses associated with these overdrafts.
    Overdrawn account balances are therefore deemed to be our
    receivables due from cardholders. We maintain reserves to cover
    the risk that we may not recover these receivables due from our
    cardholders, but our exposure may increase above these reserves
    for a variety of reasons, including our failure to predict the
    actual recovery rate accurately. To the extent we incur losses
    from overdrafts above our reserves or we determine that it is
    necessary to increase our reserves substantially, our business,
    results of operations and financial condition could be
    materially and adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;We
    face settlement risks from our retail distributors, which may
    increase during an economic downturn.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The vast majority of our business is conducted through retail
    distributors that sell our products and services to consumers at
    their store locations. Our retail distributors collect funds
    from the consumers who purchase our products and services and
    then must remit these funds directly to
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    accounts established on behalf of these consumers at the banks
    that issue our cards. The remittance of these funds by the
    retail distributor takes on average three business days. If a
    retail distributor becomes insolvent, files for bankruptcy,
    commits fraud or otherwise fails to remit proceeds to the
    issuing bank from the sales of our products and services, we are
    liable for any amounts owed to the issuing bank. As of
    October&#160;31, 2009, we had assets subject to settlement risk
    of $52.8&#160;million. Given the unprecedented volatility in
    global financial markets and the frequent occurrence of negative
    economic events, the approaches we use to assess and monitor the
    creditworthiness of our retail distributors may be inadequate,
    and we may be unable to detect and take steps to mitigate an
    increased credit risk in a timely manner.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    A further economic downturn could result in settlement losses,
    whether or not directly related to our business. We are not
    insured against these risks. Significant settlement losses could
    have a material adverse effect on our business, results of
    operations and financial condition.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Future
    acquisitions or investments could disrupt our business and harm
    our financial condition.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We are in the process of acquiring a bank holding company and
    its subsidiary commercial bank, although we cannot guarantee
    when, if ever, this acquisition will be completed. In addition,
    we may pursue other acquisitions that we believe will help us to
    achieve our strategic objectives. The process of integrating an
    acquired business, product or technology can create unforeseen
    operating difficulties, expenditures and other challenges such
    as:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    increased regulatory and compliance requirements, including, if
    we complete our pending bank acquisition, capital requirements
    applicable to us and our acquired subsidiary bank;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD align="left">
    implementation or remediation of controls, procedures and
    policies at the acquired company;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
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    <TD align="left">
    diversion of management time and focus from operation of our
    then-existing business to acquisition integration challenges;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD>    &#149;&#160;
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    <TD align="left">
    coordination of product, sales, marketing and program and
    systems management functions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD align="left">
    transition of the acquired company&#146;s users and customers
    onto our systems;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD align="left">
    retention of employees from the acquired company;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD>&nbsp;</TD>
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    integrating employees from the acquired company into our
    organization;
</TD>
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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    integration of the acquired company&#146;s accounting,
    information management, human resource and other administrative
    systems and operations generally with ours;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD align="left">
    liability for activities of the acquired company prior to the
    acquisition, including violations of law, commercial disputes,
    and tax and other known and unknown liabilities;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD>&nbsp;</TD>
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</TD>
    <TD align="left">
    litigation or other claims in connection with the acquired
    company, including claims brought by terminated employees,
    customers, former stockholders or other third parties.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    If we are unable to address these difficulties and challenges or
    other problems encountered in connection with our bank
    acquisition or any future acquisition or investment, we might
    not realize the anticipated benefits of that acquisition or
    investment, we might incur unanticipated liabilities or we might
    otherwise suffer harm to our business generally.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    To the extent we pay the consideration for any future
    acquisitions or investments in cash, it would reduce the amount
    of cash available to us for other purposes. Future acquisitions
    or investments could also result in dilutive issuances of our
    equity securities, the incurrence of debt, contingent
    liabilities, amortization expenses, or impairment charges
    against goodwill on our balance sheet, any of which could harm
    our financial condition and negatively impact our stockholders.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Economic,
    political and other conditions may adversely affect trends in
    consumer spending.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The electronic payments industry, including the prepaid
    financial services segment within that industry, depends heavily
    upon the overall level of consumer spending. Sustained
    deterioration in
</DIV>
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    16
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    general economic conditions in the United States might reduce
    the number of our cards that are purchased or reloaded, the
    number of transactions involving our cards and the use of our
    network and related services. If general economic conditions
    result in a sustained reduction in the use of our products and
    related services, either as a result of a general reduction in
    consumer spending or as a result of a disproportionate reduction
    in the use of card-based payment systems, our business, results
    of operations and financial condition would be materially harmed.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Our
    business is dependent on the efficient and uninterrupted
    operation of computer network systems and data
    centers.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our ability to provide reliable service to cardholders and other
    network participants depends on the efficient and uninterrupted
    operation of our computer network systems and data centers as
    well as those of our retail distributors, network acceptance
    members and third-party processors. Our business involves
    movement of large sums of money, processing of large numbers of
    transactions and management of the data necessary to do both.
    Our success depends upon the efficient and error-free handling
    of the money that is collected by our retail distributors and
    remitted to the banks that issue our cards or network acceptance
    members. We rely on the ability of our employees, systems and
    processes and those of the banks that issue our cards, our
    retail distributors, our network acceptance members and
    third-party processors to process and facilitate these
    transactions in an efficient, uninterrupted and error-free
    manner.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In the event of a breakdown, a catastrophic event (such as fire,
    natural disaster, power loss, telecommunications failure or
    physical break-in), a security breach or malicious attack, an
    improper operation or any other event impacting our systems or
    processes, or those of our vendors, or an improper action by our
    employees, agents or third-party vendors, we could suffer
    financial loss, loss of customers, regulatory sanctions and
    damage to our reputation. The measures we have taken, including
    the implementation of disaster recovery plans and redundant
    computer systems, may not be successful, and we may experience
    other problems unrelated to system failures. We may also
    experience software defects, development delays and installation
    difficulties, any of which could harm our business and
    reputation and expose us to potential liability and increased
    operating expenses. Some of our contracts with retail
    distributors, including our contract with Walmart, contain
    service level standards pertaining to the operation of our
    systems, and provide the retail distributor with the right to
    collect damages and potentially terminate its contract with us
    for system downtime exceeding stated limits. If we face system
    interruptions or failures, our business interruption insurance
    may not be adequate to cover the losses or damages that we incur.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;We
    must be able to operate and scale our technology effectively to
    match our business growth.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our ability to continue to provide our products and services to
    a growing number of network participants, as well as to enhance
    our existing products and services and offer new products and
    services, is dependent on our information technology systems. If
    we are unable to manage the technology associated with our
    business effectively, we could experience increased costs,
    reductions in system availability and losses of our network
    participants. Any failure of our systems in scalability and
    functionality would adversely impact our business, financial
    condition and results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;If
    we are unable to keep pace with the rapid technological
    developments in our industry and the larger electronic payments
    industry necessary to continue providing our network acceptance
    members and cardholders with new and innovative products and
    services, the use of our cards and other products and services
    could decline.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The electronic payments industry is subject to rapid and
    significant technological changes, including continuing
    advancements in the areas of radio frequency and proximity
    payment devices (such as contactless cards),
    <FONT style="white-space: nowrap">e-commerce</FONT>
    and mobile commerce, among others. We cannot predict the effect
    of technological changes on our business. We rely in part on
    third parties, including some of our competitors and potential
    competitors, for the development of, and access to, new
    technologies. We expect that new services and technologies
    applicable to our industry will continue to emerge, and
</DIV>
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    <BR>
    17
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    these new services and technologies may be superior to, or
    render obsolete, the technologies we currently utilize in our
    products and services. Additionally, we may make future
    investments in, or enter into strategic alliances to develop,
    new technologies and services or to implement infrastructure
    change to further our strategic objectives, strengthen our
    existing businesses and remain competitive. However, our ability
    to transition to new services and technologies that we develop
    may be inhibited by a lack of industry-wide standards, by
    resistance from our retail distributors, network acceptance
    members, third-party processors or consumers to these changes,
    or by the intellectual property rights of third parties. Our
    future success will depend, in part, on our ability to develop
    new technologies and adapt to technological changes and evolving
    industry standards. These initiatives are inherently risky, and
    they may not be successful or may have an adverse effect on our
    business, financial condition and results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;As
    a public company, we will be subject to additional financial and
    other reporting and corporate governance requirements that may
    be difficult for us to satisfy, will raise our costs and may
    divert resources and management attention from operating our
    business.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have historically operated as a private company. After this
    offering, we will need to file with the Securities and Exchange
    Commission, or SEC, annual and quarterly information and other
    reports that are specified in the Securities Exchange Act of
    1934, as amended, or the Exchange Act, and SEC regulations.
    Thus, we will need to ensure that we have the ability to prepare
    on a timely basis financial statements that comply with SEC
    reporting requirements. We will also become subject to other
    reporting and corporate governance requirements, including the
    listing standards of the New York Stock Exchange, or the NYSE,
    and the provisions of the Sarbanes-Oxley Act of 2002, or the
    Sarbanes-Oxley Act, and the regulations promulgated thereunder,
    which will impose significant new compliance obligations upon
    us. As a public company, we will be required, among other
    things, to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    prepare and distribute periodic reports and other stockholder
    communications in compliance with our obligations under the
    federal securities laws and the NYSE rules;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    define and expand the roles and the duties of our board of
    directors and its committees;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    institute more comprehensive compliance, investor relations and
    internal audit functions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    evaluate and maintain our system of internal control over
    financial reporting, and report on management&#146;s assessment
    thereof, in compliance with the requirements of Section 404 of
    the Sarbanes-Oxley Act and related rules and regulations of the
    SEC and the Public Company Accounting Oversight Board;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    involve and retain outside legal counsel and accountants in
    connection with the activities listed above.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The adequacy of our internal control over financial reporting
    must be assessed by management for each year commencing with the
    year ending December&#160;31, 2011. We do not currently have
    comprehensive documentation of our internal control over
    financial reporting, nor do we document our compliance with
    these controls on a periodic basis in accordance with
    Section&#160;404 of the Sarbanes-Oxley Act. Furthermore, we have
    not tested our internal control over financial reporting in
    accordance with Section&#160;404 and, due to our lack of
    documentation, this testing would not be possible at this time.
    If we were unable to implement the controls and procedures
    required by Section&#160;404 in a timely manner or otherwise to
    comply with Section&#160;404, management might not be able to
    certify, and our independent registered public accounting firm
    might not be able to report on, the adequacy of our internal
    control over financial reporting. If we are unable to maintain
    adequate internal control over financial reporting, we might be
    unable to report our financial information on a timely basis and
    might suffer adverse regulatory consequences or violate NYSE
    listing standards. There could also be a negative reaction in
    the financial markets due to a loss of investor confidence in us
    and the reliability of our financial statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The changes necessitated by becoming a public company will
    require a significant commitment of additional resources and
    management oversight that will increase our costs and might
    place a strain on our systems and resources. As a result, our
    management&#146;s attention might be diverted from other
</DIV>
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    business concerns. In addition, we might not be successful in
    implementing and maintaining controls and procedures that comply
    with these requirements. For example, in connection with the
    most recent audit of our consolidated financial statements, we
    identified a significant deficiency in our internal control over
    financial reporting relating to our financial statement closing
    process and the need to enhance our financial reporting
    resources and infrastructure. If we fail to maintain an
    effective internal control environment or to comply with the
    numerous legal and regulatory requirements imposed on public
    companies, we could make material errors in, and be required to
    restate, our financial statements. Any such restatement could
    result in a loss of public confidence in the reliability of our
    financial statements and sanctions imposed on us by the SEC.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Our
    future success depends on our ability to attract, integrate,
    retain and incentivize key personnel.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our future success will depend, to a significant extent, on our
    ability to attract, integrate, retain and incentivize key
    personnel, namely our management team and experienced sales,
    marketing and program and systems management personnel. We must
    retain and motivate existing personnel, and we must also
    attract, assimilate and motivate additional highly-qualified
    employees. We may experience difficulty assimilating our
    newly-hired personnel, which may adversely affect our business.
    Competition for qualified management, sales, marketing and
    program and systems management personnel can be intense.
    Competitors have in the past and may in the future attempt to
    recruit our top management and employees. If we fail to attract,
    integrate, retain and incentivize key personnel, our ability to
    manage and grow our business could be harmed.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;We
    might require additional capital to support our business in the
    future, and this capital might not be available on acceptable
    terms, or at all.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    If our unrestricted cash and cash equivalents balances and any
    cash generated from operations and from this offering are not
    sufficient to meet our future cash requirements, we will need to
    access additional capital to fund our operations. We may also
    need to raise additional capital to take advantage of new
    business or acquisition opportunities. We may seek to raise
    capital by, among other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    issuing additional shares of our Class&#160;A common stock or
    other equity securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    issuing debt securities;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    borrowing funds under a credit facility.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We may not be able to raise needed cash in a timely basis on
    terms acceptable to us or at all. Financings, if available, may
    be on terms that are dilutive or potentially dilutive to our
    stockholders, and the prices at which new investors might be
    willing to purchase our Class&#160;A common stock could be lower
    than the initial public offering price. The holders of new
    securities may also receive rights, preferences or privileges
    that are senior to those of existing holders of our Class&#160;A
    common stock. In addition, if we were to raise cash through a
    debt financing, the terms of the financing might impose
    additional conditions or restrictions on our operations that
    could adversely affect our business. If we require new sources
    of financing but they are insufficient or unavailable, we would
    be required to modify our operating plans to take into account
    the limitations of available funding, which would harm our
    ability to maintain or grow our business.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;The
    occurrence of catastrophic events could damage our facilities or
    the facilities of third parties on which we depend, which could
    force us to curtail our operations.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We and some of the third-party service providers on which we
    depend for various support functions, such as customer service
    and card processing, are vulnerable to damage from catastrophic
    events, such as power loss, natural disasters, terrorism and
    similar unforeseen events beyond our control. Our principal
    offices, for example, are situated in the foothills of southern
    California near known earthquake fault zones and areas of
    elevated wild fire danger. If any catastrophic event were to
    occur, our ability to operate our business could be seriously
    impaired, as we do not maintain redundant systems for critical
    business functions, such as finance and accounting. In addition,
    we
</DIV>
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    <BR>
    19
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    might not have adequate insurance to cover our losses resulting
    from catastrophic events or other significant business
    interruptions. Any significant losses that are not recoverable
    under our insurance policies, as well as the damage to, or
    interruption of, our infrastructure and processes, could
    seriously impair our business and financial condition.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Risks Related to
    Our Class&#160;A Common Stock and This Offering</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;We
    cannot assure you that a market will develop for our
    Class&#160;A common stock or what the market price of our
    Class&#160;A common stock will be.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    No public trading market currently exists for our Class&#160;A
    common stock, and one may not develop or be sustained after this
    offering to provide you with adequate liquidity. If a market
    does not develop or is not sustained, it may be difficult for
    you to sell your shares of Class&#160;A common stock at an
    attractive price or at all. We cannot predict the prices at
    which our Class&#160;A common stock will trade. The initial
    public offering price for our Class&#160;A common stock will be
    determined through negotiations among us, the selling
    stockholders and representatives of the underwriters and may not
    bear any relationship to the market price at which our
    Class&#160;A common stock will trade in the public market
    following this offering or to any other established criteria of
    the value of our business. A significant portion of our shares
    may not trade following the offering because the selling
    stockholders will continue to own
    approximately&#160;&#160;&#160;&#160;&#160;% of our shares. If
    these shares do not trade, there may be limited liquidity for
    shares of our Class&#160;A Common Stock following this offering.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;The
    price of our Class&#160;A common stock may be volatile and you
    could lose all or part of your investment.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In the recent past, stocks generally, and financial services
    company stocks in particular, have experienced high levels of
    volatility. The trading price of our Class&#160;A common stock
    following this offering may fluctuate substantially and may be
    higher or lower than the initial public offering price. The
    trading price of our Class&#160;A common stock following this
    offering will depend on a number of factors, including those
    described in this &#147;Risk Factors&#148; section, many of
    which are beyond our control and may not be related to our
    operating performance. These fluctuations could cause you to
    lose all or part of your investment in our Class&#160;A common
    stock as you may be unable to sell your shares at or above the
    price you paid in this offering. Factors that could cause
    fluctuations in the trading price of our Class&#160;A common
    stock include the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    price and volume fluctuations in the overall stock market from
    time to time;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    significant volatility in the market prices and trading volumes
    of financial services company stocks;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    actual or anticipated changes in our results of operations or
    fluctuations in our operating results;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    actual or anticipated changes in the expectations or
    recommendations of investors or any securities analysts who
    follow our Class&#160;A common stock;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    actual or anticipated developments in our business or our
    competitors&#146; businesses or the competitive landscape
    generally;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the public&#146;s reaction to our press releases, other public
    announcements and filings with the SEC;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    litigation involving us, our industry or both or investigations
    by regulators into our operations or those of our competitors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    new laws or regulations or new interpretations of existing laws
    or regulations applicable to our business;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in accounting standards, policies, guidelines,
    interpretations or principles;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    general economic conditions;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    sales of shares of our Class&#160;A common stock by us or our
    stockholders.
</TD>
</TR>

</TABLE>
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    <BR>
    20
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In the past, many companies that have experienced volatility in
    the market price of their stock have become subject to
    securities class action litigation. We may be the target of this
    type of litigation in the future. Securities litigation against
    us could result in substantial costs and divert our
    management&#146;s attention from other business concerns, which
    could seriously harm our business.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Our
    operating results may fluctuate in the future, which could cause
    our stock price to decline.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our quarterly and annual results of operations may fluctuate in
    the future as a result of a variety of factors, many of which
    are outside of our control. If our results of operations fall
    below the expectations of investors or any securities analysts
    who follow our Class&#160;A common stock, the trading price of
    our Class&#160;A common stock could decline substantially.
    Fluctuations in our quarterly or annual results of operations
    may be due to a number of factors, including, but not limited to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the timing and volume of purchases, use and reloads of our
    prepaid cards and related products and services;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the timing and success of new product or service introductions
    by us or our competitors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    seasonality in the purchase or use of our products and services;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    fluctuations in customer retention rates;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in the mix of products and services that we sell;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in the mix of retail distributors through which we sell
    our products and services;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the timing of commencement, renegotiation or termination of
    relationships with significant retail distributors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the timing of commencement, renegotiation or termination of
    relationships with significant network acceptance members;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in our or our competitors&#146; pricing policies or
    sales terms;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the timing of commencement and termination of major advertising
    campaigns;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the timing of costs related to the development or acquisition of
    complementary businesses;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the timing of costs of any major litigation to which we are a
    party;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the amount and timing of operating costs related to the
    maintenance and expansion of our business, operations and
    infrastructure;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to control costs, including third-party service
    provider costs;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    volatility in the trading price of our Class&#160;A common
    stock, which may lead to higher stock-based compensation
    expenses;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in the regulatory environment affecting the banking or
    electronic payments industries generally or prepaid financial
    services specifically.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Concentration
    of ownership among our existing directors, executive officers
    and principal stockholders may prevent new investors from
    influencing significant corporate decisions.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our Class&#160;B common stock has ten votes per share and our
    Class&#160;A common stock, which is the stock we are selling in
    this offering, has one vote per share. Assuming the
    underwriters&#146; option to purchase additional shares is not
    exercised, based upon beneficial ownership as of
    October&#160;31, 2009, our current directors, executive
    officers, holders of more than 5% of our common stock and their
    respective affiliates will, in the aggregate, beneficially own
    approximately&#160;&#160;&#160;&#160;&#160;% of our outstanding
    Class&#160;B common stock, representing
    approximately&#160;&#160;&#160;&#160;&#160;% of the voting power
    of our outstanding capital stock. As a result, these
    stockholders will be able to exercise a controlling influence
    over matters requiring stockholder approval, including the
    election of directors and approval of significant corporate
    transactions, and will have significant influence over our
    management and policies for the foreseeable future. Some of
    these persons or entities may have interests that are different
    from yours. For example, these stockholders may support
    proposals and actions with which you may disagree or
</DIV>
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    <BR>
    21
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    which are not in your interests. The concentration of ownership
    could delay or prevent a change in control of our company or
    otherwise discourage a potential acquirer from attempting to
    obtain control of our company, which in turn could reduce the
    price of our Class&#160;A common stock. In addition, these
    stockholders, some of which have representatives sitting on our
    board of directors, could use their voting control to maintain
    our existing management and directors in office, delay or
    prevent changes of control of our company, or support or reject
    other management and board of director proposals that are
    subject to stockholder approval, such as amendments to our
    employee stock plans and approvals of significant financing
    transactions. See &#147;Description of Capital Stock&#160;&#150;
    Anti-Takeover Provisions.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Our
    stock price could decline due to the large number of outstanding
    shares of our common stock eligible for future
    sale.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Upon completion of this offering, we will have
    outstanding&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our common stock, assuming no exercise of outstanding options
    after&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2010. The shares sold in this offering will be immediately
    tradable without restriction. Of the remaining shares:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    will be eligible for sale immediately upon completion of this
    offering;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    will be eligible for sale beginning 90&#160;days after the date
    of this prospectus;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    will be eligible for sale upon the expiration of
    <FONT style="white-space: nowrap">lock-up</FONT>
    <FONT style="white-space: nowrap">and/or</FONT>
    market standoff agreements, subject in some cases to the volume
    and other restrictions of Rule&#160;144 and Rule 701 promulgated
    under the Securities Act of 1933, as amended, or the Securities
    Act.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The lock-up and market standoff agreements expire 180&#160;days
    after the date of this prospectus, except that with respect to
    the lock-up agreements the
    <FONT style="white-space: nowrap">180-day</FONT>
    period may be extended for up to 34 additional days under
    specified circumstances where we announce or pre-announce
    earnings or a material event occurs within 17&#160;days prior
    to, or 16&#160;days after, the termination of the
    <FONT style="white-space: nowrap">180-day</FONT>
    period. The representatives of the underwriters may, in their
    sole discretion and at any time without notice, release all or
    any portion of the securities subject to
    <FONT style="white-space: nowrap">lock-up</FONT>
    agreements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Immediately following this offering, the holders of
    approximately&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;B common stock will be entitled to rights with
    respect to the registration of these shares under the Securities
    Act. See &#147;Description of Capital Stock&#160;&#150;
    Registration Rights.&#148; If we register the resale of their
    shares following the expiration of the
    <FONT style="white-space: nowrap">lock-up</FONT> and
    market standoff agreements, these stockholders could sell those
    shares in the public market without being subject to the volume
    and other restrictions of Rules&#160;144 and 701.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    After the closing of this offering, we intend to register
    approximately&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A and Class&#160;B common stock that have been
    issued or reserved for future issuance under our stock incentive
    plans. Of these
    shares,&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    will be eligible for sale upon the exercise of vested options
    after the expiration of the
    <FONT style="white-space: nowrap">lock-up</FONT> and
    market standoff agreements. In addition, the shares subject to
    an outstanding warrant to purchase 283,786&#160;shares of our
    Class&#160;B common stock could be eligible for sale immediately
    upon completion of this offering, depending upon the manner in
    which it is exercised. Assuming our other outstanding warrant
    vests, up to an additional 4,283,456&#160;shares will be
    eligible for sale after the expiration of
    <FONT style="white-space: nowrap">lock-up</FONT>
    <FONT style="white-space: nowrap">and/or</FONT>
    standoff agreements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Sales of substantial amounts of our Class&#160;A common stock in
    the public market following this offering, or even the
    perception that these sales could occur, could cause the trading
    price of our Class&#160;A common stock to decline. These sales
    could also make it more difficult for us to sell equity or
    equity-related securities in the future at a time and price that
    we deem appropriate.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Because
    the initial public offering price of our Class&#160;A common
    stock will be substantially higher than the pro forma as
    adjusted net tangible book value per share of our outstanding
    Class&#160;A and Class&#160;B common stock following this
    offering, new investors will incur immediate and substantial
    dilution.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The initial public offering price will be substantially higher
    than the pro forma as adjusted net tangible book value per share
    of our Class&#160;A and Class&#160;B common stock immediately
    following this offering based on the total value of our tangible
    assets less our total liabilities. Therefore, if you
</DIV>
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    <BR>
    22
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    purchase shares of our Class&#160;A common stock in this
    offering, you will experience immediate dilution of
    approximately $&#160;&#160;&#160;&#160;&#160; per share, the
    difference between the price per share you pay for our
    Class&#160;A common stock and its pro forma as adjusted net
    tangible book value per share following the offering. See
    &#147;Dilution.&#148; Furthermore, investors purchasing shares
    of our Class&#160;A common stock in this offering will only own
    approximately&#160;&#160;&#160;&#160;&#160;% of our outstanding
    shares of Class&#160;A and Class&#160;B (and
    have&#160;&#160;&#160;&#160;&#160;% of the combined voting power
    of the outstanding shares of our Class&#160;A and Class&#160;B
    common stock) after the offering even though they will have
    contributed&#160;&#160;&#160;&#160;&#160;% of the total
    consideration received by us in connection with our sale of
    shares of our capital stock. To the extent outstanding options
    to purchase our Class&#160;B common stock are exercised,
    investors purchasing our Class&#160;A common stock in this
    offering will experience further dilution.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;We
    will have broad discretion in the use of the net proceeds from
    this offering.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We cannot specify with certainty the particular uses of the net
    proceeds that we will receive from this offering. Our management
    will have broad discretion in the application of these proceeds,
    including for any of the purposes described in the section
    entitled &#147;Use of Proceeds.&#148; Accordingly, you will have
    to rely upon the judgment of our management with respect to the
    use of the proceeds, with only limited information concerning
    management&#146;s specific intentions. Our management may spend
    a portion or all of the net proceeds from this offering in ways
    that our stockholders may not desire or that may not yield a
    favorable return. The failure by our management to apply these
    funds effectively could harm our business. Pending their use, we
    may invest the net proceeds from this offering in a manner that
    does not produce income or that loses value. In addition, a
    majority of the offering is comprised of shares of our
    Class&#160;A common stock being sold by the selling
    stockholders, and we will not receive any proceeds from the sale
    of those shares.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;Our
    charter documents and Delaware law could discourage, delay or
    prevent a takeover that stockholders consider favorable and
    could also reduce the market price of our stock.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our restated certificate of incorporation and our restated
    bylaws contain provisions that could delay or prevent a change
    in control of our company. These provisions could also make it
    more difficult for stockholders to nominate directors for
    election to our board of directors and take other corporate
    actions. These provisions, among other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    provide our Class&#160;B common stock with disproportionate
    voting rights (see &#147;&#150;&#160;Concentration of ownership
    among our existing directors, executive officers and principal
    stockholders may prevent new investors from influencing
    significant corporate decisions&#148; above);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    provide for non-cumulative voting in the election of directors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    provide for a classified board of directors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    authorize our board of directors, without stockholder approval,
    to issue preferred stock with terms determined by our board of
    directors and to issue additional shares of our Class A and
    Class&#160;B common stock;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    limit the voting power a holder, or group of affiliated holders,
    of more than 25% of our common stock to 14.9%;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    provide that only our board of directors may set the number of
    directors constituting our board of directors or fill vacant
    directorships;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    prohibit stockholder action by written consent and limit who may
    call a special meeting of stockholders;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    require advance notification of stockholder nominations for
    election to our board of directors and of stockholder proposals.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    These and other provisions in our restated certificate of
    incorporation and our restated bylaws, as well as provisions
    under Delaware law, could discourage potential takeover
    attempts, reduce the price that investors might be willing to
    pay in the future for shares of our Class&#160;A common stock
    and result in the trading price of our Class&#160;A common stock
    being lower than it otherwise would be. See
</DIV>
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    <BR>
    23
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    &#147;Description of Capital Stock&#160;&#150; Preferred
    Stock&#148; and &#147;Description of Capital Stock&#160;&#150;
    Anti-Takeover Provisions.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;If
    securities analysts do not publish research or reports about our
    business or if they publish negative evaluations of our
    Class&#160;A common stock, the trading price of our Class&#160;A
    common stock could decline.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We expect that the trading price for our Class&#160;A common
    stock will be affected by any research or reports that
    securities analysts publish about us or our business. If one or
    more of the analysts who may elect to cover us or our business
    downgrade their evaluations of our Class&#160;A common stock,
    the price of our Class&#160;A common stock would likely decline.
    If one or more of these analysts cease coverage of our company,
    we could lose visibility in the market for our Class&#160;A
    common stock, which in turn could cause our stock price to
    decline.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">&#160;&#160;&#160;&#160;&#160;We
    do not intend to pay dividends for the foreseeable
    future.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have never declared or paid any cash dividends on our capital
    stock. The revolving line of credit we maintain with Columbus
    Bank and Trust&#160;Company prohibits the payment of any
    dividends without its prior written consent. In addition, the
    capital requirements imposed under the BHC Act, as well as other
    federal laws applicable to banks and bank holding companies,
    would limit our ability to pay dividends. We intend to retain
    any earnings to finance the operation and expansion of our
    business, and we do not anticipate paying any cash dividends in
    the foreseeable future. As a result, you will likely receive a
    return on your investment in our Class&#160;A common stock only
    if the market price of our Class&#160;A common stock increases.
</DIV>
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    <BR>
    24
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='103'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">SPECIAL NOTE
    REGARDING FORWARD-LOOKING STATEMENTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In addition to historical information, this prospectus contains
    forward-looking statements. We may, in some cases, use words,
    such as &#147;project,&#148; &#147;believe,&#148;
    &#147;anticipate,&#148; &#147;plan,&#148; &#147;expect,&#148;
    &#147;estimate,&#148; &#147;intend,&#148; &#147;continue,&#148;
    &#147;should,&#148; &#147;would,&#148; &#147;could,&#148;
    &#147;potentially,&#148; &#147;will&#148; or &#147;may,&#148; or
    other similar words and expressions that convey uncertainty
    about future events or outcomes to identify these
    forward-looking statements. Forward-looking statements in this
    prospectus include, among other things, statements about:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our expectations regarding our revenues, expenses, effective tax
    rates and other results of operations;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our anticipated capital expenditures and our estimates regarding
    our capital requirements;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our liquidity and working capital requirements;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our need to obtain additional funding and our ability to obtain
    future funding on acceptable terms;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our spending of the net proceeds from this offering;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the impact of seasonality on our business;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the growth rates of the markets in which we compete;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our anticipated strategies for growth and sources of new
    revenues;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    maintaining and expanding our customer base and our
    relationships with retail distributors and network acceptance
    members;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to anticipate market needs and develop new and
    enhanced products and services to meet those needs;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our current and future products, applications and functionality
    and plans to promote them;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    anticipated trends and challenges in our business and in the
    markets in which we operate;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the evolution of technology affecting our products, services and
    markets;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to retain and hire necessary employees and to staff
    our operations appropriately;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    management compensation and the methodology for its
    determination;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to find future acquisition opportunities on
    favorable terms or at all and to manage any acquisitions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to complete our pending bank acquisition and our
    expectations regarding the benefits of doing so;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our efforts to make our business more vertically integrated;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to compete in our industry and innovation by our
    competitors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to stay abreast of new or modified laws and
    regulations that currently apply or become applicable to our
    business;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    estimates and estimate methodologies used in preparing our
    consolidated financial statements and determining option
    exercise prices;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the future trading prices of our Class&#160;A Common Stock and
    the impact of securities analysts&#146; reports on these prices.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The outcome of the events described in these forward-looking
    statements is subject to known and unknown risks, uncertainties
    and other factors that could cause actual results to differ
    materially from the results anticipated by these forward-looking
    statements. These risks, uncertainties and factors include those
    we discuss in this prospectus under the caption &#147;Risk
    Factors.&#148; You should read these risk factors and the other
    cautionary statements made in this prospectus as being
    applicable to all related forward-looking statements wherever
    they appear in this prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The forward-looking statements made in this prospectus relate
    only to events as of the date on which the statements are made.
    We undertake no obligation to update publicly any
    forward-looking statements, whether as a result of new
    information, future events or otherwise, except as required by
    law.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    25
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='104'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">INDUSTRY AND
    MARKET DATA</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    This prospectus also contains estimates and other statistical
    data, including those relating to market size, transaction
    volumes, demographic groups and growth rates of the markets in
    which we participate, that we have obtained from industry
    publications and reports. These industry publications and
    reports generally indicate that they have obtained their
    information from sources believed to be reliable, but do not
    guarantee the accuracy and completeness of their information.
    This information involves a number of assumptions and
    limitations, and you are cautioned not to give undue weight to
    these estimates, as there is no assurance that any of them will
    be reached. Although we have not independently verified the
    accuracy or completeness of the data contained in these industry
    publications and reports, based on our industry experience we
    believe that the publications and reports are reliable and that
    the conclusions contained in the publications and reports are
    reasonable.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    26
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='105'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">USE OF
    PROCEEDS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We estimate that we will receive net proceeds from the sale of
    the&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock that we are selling in this
    offering of approximately
    $&#160;&#160;&#160;&#160;&#160;&#160;million, based on an
    assumed initial public offering price of
    $&#160;&#160;&#160;&#160;&#160; per share, the midpoint of the
    price range set forth on the cover page of this prospectus,
    after deducting the estimated underwriting discounts and
    commissions and estimated offering expenses. If the
    underwriters&#146; option to purchase additional shares in this
    offering is exercised in full, based on the same assumptions, we
    estimate that our net proceeds will be approximately
    $&#160;&#160;&#160;&#160;&#160;&#160;million. Each $1.00
    increase or decrease in the assumed initial public offering
    price would increase or decrease, as applicable, the net
    proceeds to us by approximately
    $&#160;&#160;&#160;&#160;&#160;&#160;million, assuming the
    number of shares offered by us, as set forth on the cover page
    of this prospectus, remains the same and after deducting the
    estimated underwriting discounts and commissions. We will not
    receive any proceeds from the sale of shares of our Class&#160;A
    common stock by the selling stockholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The principal purposes of our selling shares in this offering
    are to obtain additional capital, to create a public market for
    our Class&#160;A common stock and to facilitate our future
    access to the public equity markets. We expect to use the net
    proceeds of this offering for general corporate purposes,
    including working capital and potential capital expenditures. We
    do not have more specific plans for the net proceeds from this
    offering. We may also use a portion of the net proceeds for the
    acquisition of, or investment in, complementary businesses,
    products, services, technologies or assets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have not yet determined our anticipated expenditures and
    therefore cannot estimate the amounts to be used for each of the
    purposes discussed above. The amounts and timing of any
    expenditures will vary depending on the amount of cash generated
    by our operations, competitive and technological developments
    and the rate of growth, if any, of our business. Accordingly,
    our management will have significant flexibility in applying the
    net proceeds from this offering, and investors will be relying
    on the judgment of our management regarding the application of
    these net proceeds. Pending the uses described above, we intend
    to invest the net proceeds from this offering in short-term,
    interest-bearing obligations, investment-grade instruments,
    certificates of deposit or direct or guaranteed obligations of
    the United States government. The goal with respect to the
    investment of these net proceeds will be capital preservation
    and liquidity so that these funds are readily available to fund
    our operations.
</DIV>

<A name='106'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">DIVIDEND
    POLICY</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have never declared or paid any cash dividends on our capital
    stock, and we do not currently intend to pay any cash dividends
    on our Class&#160;A common stock in the foreseeable future. The
    revolving line of credit we maintain with Columbus Bank and
    Trust&#160;Company prohibits the payment of any dividends
    without its prior written consent. In addition, should we
    complete our proposed acquisition of a bank holding company and
    its subsidiary commercial bank, as a bank holding company, the
    Federal Reserve Board&#146;s risk-based and leverage capital
    requirements, as well as other federal laws applicable to banks
    and bank holding companies, could limit our ability to pay
    dividends. We expect to retain future earnings, if any, to fund
    the development and growth of our business. Any future
    determination to pay dividends on our Class&#160;A common stock,
    if permissible, will be at the discretion of our board of
    directors and will depend upon, among other factors, our
    financial condition, operating results, current and anticipated
    cash needs, plans for expansion and other factors that our board
    of directors may deem relevant.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    27
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='107'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">CAPITALIZATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table sets forth our unaudited consolidated cash,
    cash equivalents and restricted cash and capitalization as of
    October&#160;31, 2009 on:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an actual basis;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a pro forma basis to give effect to (i)&#160;the conversion of
    all shares of our common stock outstanding as of
    October&#160;31, 2009 into 12,075,938&#160;shares of our
    Class&#160;B common stock and (ii)&#160;the automatic conversion
    of all outstanding shares of our preferred stock into
    24,941,521&#160;shares of our Class&#160;B common stock
    immediately prior to the completion of this offering;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a pro forma as adjusted basis to give further effect to
    (i)&#160;the conversion by the selling stockholders
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;B common stock into a like number of shares of
    our Class&#160;A common stock immediately prior to the
    completion of this offering and (ii)&#160;the sale by us of
    the&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock offered by us in this
    prospectus at an assumed initial public offering price of
    $&#160;&#160;&#160;&#160;&#160; per share, after deducting the
    estimated underwriting discounts and commissions and estimated
    offering expenses, and the sale by the selling stockholders of
    the&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock offered by them in this
    prospectus.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The information below is illustrative only, and our
    capitalization following the completion of this offering will be
    adjusted based on the actual initial public offering price and
    other terms of the offering determined at the pricing of this
    offering. You should read this table together with our
    consolidated financial statements and related notes and
    &#147;Management&#146;s Discussion and Analysis of Financial
    Condition and Results of Operations&#148; included elsewhere in
    this prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="64%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="10%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>October&#160;31, 2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Pro Forma<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Actual</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Pro Forma</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As Adjusted(1)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Cash, cash equivalents and restricted cash(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    58,623
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    58,623
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Long-term debt
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Stockholders&#146; equity:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Convertible preferred stock, $0.001&#160;par value:
    25,554,000&#160;shares authorized, 24,941,521&#160;shares issued
    and
    outstanding;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    authorized, no shares issued or outstanding, pro forma or pro
    forma as adjusted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,322
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Common stock, $0.001&#160;par value: 50,000,000&#160;shares
    authorized, 12,075,938&#160;shares issued and outstanding,
    actual; no shares authorized, issued or outstanding, pro forma
    or pro forma as adjusted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Class&#160;B common stock, $0.001&#160;par value: ten votes per
    share, no shares authorized, issued or outstanding,
    actual;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    authorized, 37,017,459&#160;shares issued and outstanding, pro
    forma;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    authorized,&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    issued and outstanding, pro forma as adjusted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Class&#160;A common stock, $0.001&#160;par value: one vote per
    share, no shares authorized, issued or outstanding,
    actual;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    authorized, no shares issued or outstanding, pro forma; shares
    authorized,&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    issued and outstanding, pro forma as adjusted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Additional paid-in capital
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,822
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35,119
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Related party notes receivable(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,869
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,869
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,869
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Retained earnings
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,167
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,167
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,167
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 27pt">
    Total stockholders&#146; equity
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 36pt">
    Total capitalization
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    53,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    53,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    28
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Each $1.00 increase or decrease in the assumed initial public
    offering price of $&#160;&#160;&#160;&#160;&#160; per share
    would increase or decrease, respectively, our cash, cash
    equivalents and restricted cash, additional paid-in capital,
    total stockholders&#146; equity and total capitalization by
    approximately $&#160;&#160;&#160;&#160;&#160;&#160;million,
    assuming the number of shares offered by us, as set forth on the
    cover page of this prospectus, remains the same and after
    deducting the estimated underwriting discounts and commissions.
    If the underwriters&#146; option to purchase additional shares
    of our Class&#160;A common stock in this offering is exercised
    in full, the amount of pro forma as adjusted cash, cash
    equivalents and restricted cash, additional paid-in capital,
    total stockholders&#146; equity and total capitalization would
    increase by approximately $&#160;&#160;&#160;&#160;&#160; and we
    would have&#160;&#160;&#160;&#160;&#160;shares of Class&#160;A
    common stock issued and outstanding
    and&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of Class&#160;B common stock issued and outstanding.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes $15.4&#160;million of restricted cash. We maintain
    restricted deposits in bank accounts to support our line of
    credit.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    All related party notes receivable were repaid in full in
    November 2009.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In the table above, the number of shares outstanding as of
    October&#160;31, 2009 does not include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    4,963,547&#160;shares of our Class&#160;B common stock issuable
    upon the exercise of stock options outstanding as of
    October&#160;31, 2009 with a weighted average exercise price of
    $4.25 per share
    (including&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock that we expect to be sold in
    this offering by certain selling stockholders upon the exercise
    of vested stock options with a weighted average exercise price
    of $&#160;&#160;&#160;&#160;&#160; per share);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    1,392,250&#160;shares of our Class&#160;B common stock issuable
    upon the exercise of stock options granted after
    October&#160;31, 2009 with a weighted average exercise price of
    $20.48 per share;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    259,584&#160;shares of our Class&#160;B common stock granted as
    restricted stock awards after October&#160;31, 2009;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    4,567,242&#160;shares of our Class&#160;B common stock issuable
    upon the exercise of warrants outstanding as of October&#160;31,
    2009 with a weighted average exercise price of $22.31 per share,
    including a warrant to purchase up to 4,283,456&#160;shares that
    is exercisable only upon the achievement of performance goals
    specified in our arrangement with PayPal, Inc.;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock reserved for issuance under our
    2010 Equity Incentive Plan, which will become effective on the
    first day that our Class&#160;A common stock is publicly traded,
    as more fully described in &#147;Executive
    Compensation&#160;&#150; Employee Benefit Plans&#160;&#150; 2010
    Equity Incentive Plan.&#148;
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    29
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='108'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">DILUTION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    If you invest in our Class&#160;A common stock in this offering,
    your interest will be diluted to the extent of the difference
    between the initial public offering price of our Class&#160;A
    common stock and the pro forma as adjusted net tangible book
    value of our Class&#160;A and Class&#160;B common stock after
    giving effect to this offering. As of October&#160;31, 2009, our
    pro forma net tangible book value, before giving effect to this
    offering, was approximately $&#160;&#160;&#160;&#160;&#160;, or
    $&#160;&#160;&#160;&#160;&#160; per share, based
    upon&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    outstanding as of that date, including shares acquired through
    option exercises in order to be sold in this offering. Pro forma
    net tangible book value per share represents the amount of our
    total tangible assets less our total liabilities, divided by the
    number of outstanding shares of our Class&#160;A and
    Class&#160;B common stock, after giving effect to the automatic
    conversion of all outstanding shares of our preferred stock into
    shares of our Class&#160;B common stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    After giving effect to the sale by us of
    the&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock offered by us in this
    prospectus at an assumed initial public offering price of
    $&#160;&#160;&#160;&#160;&#160; per share, after deducting the
    estimated underwriting discounts and commissions and the
    estimated offering expenses, our pro forma as adjusted net
    tangible book value as of October&#160;31, 2009 would have been
    approximately $&#160;&#160;&#160;&#160;&#160;&#160;million, or
    $&#160;&#160;&#160;&#160;&#160; per share. This represents an
    immediate increase in pro forma net tangible book value of
    $&#160;&#160;&#160;&#160;&#160; per share to existing
    stockholders and an immediate dilution of
    $&#160;&#160;&#160;&#160;&#160; per share to new investors
    purchasing shares of our Class&#160;A common stock at the
    initial public offering price. The following table illustrates
    this per share dilution:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="83%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Assumed initial public offering price per share of our
    Class&#160;A common stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Pro forma net tangible book value per share as of
    October&#160;31, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Increase in pro forma net tangible book value per share
    attributable to new investors
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Pro forma as adjusted net tangible book value per share as of
    October&#160;31, 2009 after giving effect to this offering
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Dilution in pro forma as adjusted net tangible book value per
    share to new investors
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    A $1.00 increase or decrease in the assumed initial public
    offering price of $ would increase or decrease our pro forma as
    adjusted net tangible book value per share after this offering
    by $&#160;&#160;&#160;&#160;&#160; per share and the dilution in
    pro forma as adjusted net tangible book value to new investors
    by $&#160;&#160;&#160;&#160;&#160; per share, assuming the
    number of shares offered by us, as set forth on the cover page
    of this prospectus, remains the same and after deducting the
    estimated underwriting discounts and commissions. If the
    underwriters exercise in full their option to purchase
    additional shares of our Class&#160;A common stock in this
    offering, the pro forma as adjusted net tangible book value per
    share after giving effect to this offering would be
    $&#160;&#160;&#160;&#160;&#160; per share, and the dilution in
    pro forma as adjusted net tangible book value per share to
    investors in this offering would be
    $&#160;&#160;&#160;&#160;&#160; per share.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table summarizes on the pro forma as adjusted
    basis described above, the difference between our existing
    stockholders and the purchasers of shares of our Class&#160;A
    common stock in this offering with respect to the number of
    shares of our common stock purchased from us, the total
    consideration paid to us and the average price per share paid to
    us, based on an assumed initial public offering price of
    $&#160;&#160;&#160;&#160;&#160; per share, before deducting the
    estimated underwriting discounts and commissions:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="55%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Average<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="7" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares Purchased</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="7" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Total Consideration</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Price<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Number</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Percent</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Percent</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>per Share</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Existing stockholders(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.93
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    New investors
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Total
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes shares purchased by the selling stockholders, including
    shares acquired through option exercises in order to sell the
    shares in this offering.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    30
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    A $1.00 increase or decrease in the assumed initial public
    offering price of $&#160;&#160;&#160;&#160;&#160; per share
    would increase or decrease, respectively, total consideration
    paid by new investors and total consideration paid by all
    stockholders by approximately
    $&#160;&#160;&#160;&#160;&#160;&#160;million, assuming that the
    number of shares offered by us, as set forth on the cover page
    of this prospectus, remains the same.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The above discussion and tables assume no exercise of our stock
    options or warrants outstanding as of October&#160;31, 2009,
    consisting of 4,963,547&#160;shares of our Class&#160;B common
    stock issuable upon the exercise of stock options with a
    weighted average exercise price of approximately $4.25 per
    share, and 4,567,242&#160;shares of our Class&#160;B common
    stock issuable upon the exercise of warrants with a weighted
    average exercise price of approximately $22.31 per share. If all
    of these options and warrants were exercised, then:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    there would be an additional $&#160;&#160;&#160;&#160;&#160; per
    share of dilution to new investors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our existing stockholders, including the holders of these
    options and warrants, would own&#160;&#160;&#160;&#160;&#160;%
    and our new investors would own&#160;&#160;&#160;&#160;&#160;%
    of the total number of shares of our Class&#160;A and
    Class&#160;B common stock outstanding upon the completion of
    this offering;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our existing stockholders, including the holders of these
    options and warrants, would have
    paid&#160;&#160;&#160;&#160;&#160;% of total consideration, at
    an average price per share of $&#160;&#160;&#160;&#160;&#160; ,
    and our new investors would have
    paid&#160;&#160;&#160;&#160;&#160;% of total consideration.
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    31
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='109'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 1%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">SELECTED
    CONSOLIDATED FINANCIAL DATA</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 1%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following tables present selected historical financial data
    for our business. You should read this information together with
    &#147;Management&#146;s Discussion and Analysis of Financial
    Condition and Results of Operations&#148; and our consolidated
    financial statements, related notes and other financial
    information included elsewhere in this prospectus. The selected
    consolidated financial data in this section are not intended to
    replace the financial statements and are qualified in their
    entirety by the financial statements and related notes included
    elsewhere in this prospectus.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 1%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We derived the statement of operations data for the years ended
    July&#160;31, 2007, 2008 and 2009 and the balance sheet data as
    of July&#160;31, 2008 and 2009 from our audited consolidated
    financial statements included elsewhere in this prospectus. We
    derived the balance sheet data as of July&#160;31, 2007 from our
    audited consolidated financial statements not included in this
    prospectus. We derived the statement of operations data for the
    years ended July&#160;31, 2005 and 2006 and the balance sheet
    data as of July&#160;31, 2005 and 2006 from our unaudited
    consolidated financial statements not included in this
    prospectus. We derived the statement of operations data for the
    three months ended October&#160;31, 2008 and 2009 and the
    balance sheet data as of October&#160;31, 2009 from our
    unaudited consolidated financial statements included elsewhere
    in this prospectus. In the opinion of our management, these
    unaudited financial data reflect all adjustments, consisting of
    normal and recurring adjustments, necessary for a fair statement
    as to results for those periods. Our historical results are not
    necessarily indicative of our results to be expected in any
    future period.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 1%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The pro forma per share data give effect to the conversion of
    all currently outstanding shares of our convertible preferred
    stock into shares of our Class&#160;B common stock upon the
    closing of this offering, as though the conversion had occurred
    at the beginning of the indicated fiscal period. For further
    information concerning the calculation of pro forma per share
    information, please refer to note&#160;2 and note&#160;12 of our
    notes to consolidated financial statements.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    32
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 7pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Three Months Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>October&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2005</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" nowrap align="center" valign="bottom">
    <B> (In thousands, except per share amounts)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    <B>Consolidated Statement of Operations Data:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Operating revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Card revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    21,771
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    36,359
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    45,717
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    91,233
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    119,356
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    27,635
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    30,532
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Cash transfer revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,064
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,616
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,419
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,310
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    62,396
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,556
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,807
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Interchange revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,705
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,975
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,488
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,583
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53,064
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,418
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,926
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 21pt">
    Total operating revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39,540
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    66,951
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    83,624
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    168,126
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    234,816
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,609
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    66,265
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Operating expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Sales and marketing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,148
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,660
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,838
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    69,577
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    75,786
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,538
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,165
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Compensation and benefits&#160;expenses(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,584
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,499
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,610
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,303
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,096
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,191
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,067
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Processing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,990
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,547
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,809
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,944
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,320
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,297
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,053
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Other general and administrative&#160;expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,521
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,077
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,212
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,124
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,944
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,747
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,103
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 21pt">
    Total operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,243
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65,783
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82,469
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    138,948
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    171,146
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,773
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    48,388
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Operating income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,703
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,168
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,155
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29,178
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63,670
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,836
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,877
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Interest income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    300
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    301
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    771
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    665
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    396
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    210
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Interest expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (474
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (823
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (625
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (247
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Income before income taxes
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,877
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    645
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,301
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29,596
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    64,065
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,046
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,937
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Income tax expense (benefit)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    111
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,346
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,261
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,902
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,219
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,533
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,877
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    535
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,647
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,335
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,827
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Dividends, accretion and allocated earnings of preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (367
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,157
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (13,650
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (29,000
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,409
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (7,013
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Net income (loss) allocated to common&#160;stockholders
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (4,877
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    168
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (510
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,685
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,418
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,391
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Earnings (loss) per common share:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $(0.48
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.02
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $(0.05
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.34
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.68
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $(0.48
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $(0.05
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.52
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.22
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Weighted-average common shares issued and outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,228
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,873
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,757
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,036
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,026
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,060
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Weighted-average diluted common shares issued and outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,228
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,194
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,154
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,712
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,034
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,318
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Pro forma earnings per common share (unaudited):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $1.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.91
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $0.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Pro forma weighted-average shares issued and outstanding
    (unaudited):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36,978
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,002
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,654
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,260
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    <B>Other Data:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 14pt">
    Adjusted EBITDA(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (3,492
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,214
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,835
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $34,825
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $70,731
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11,567
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    19,885
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 7pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="57%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>As of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As of July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>October&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2005</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="22" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    <B>Consolidated Balance Sheet Data:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Cash, cash equivalents and restricted cash(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    15,619
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    16,670
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,991
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    41,613
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    41,931
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    58,623
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Settlement assets(4)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,590
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,868
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,412
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,445
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35,570
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,813
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Total assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30,436
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,626
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    56,441
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    97,246
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    123,269
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    161,628
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Settlement obligations(4)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,355
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,933
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,916
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,445
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35,570
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,813
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Long-term debt
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,769
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,030
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,446
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Total liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,271
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,004
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,237
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65,962
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    81,031
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    108,174
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Redeemable convertible preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,336
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,816
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Total stockholders&#146; equity (deficit)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,165
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,623
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (11,130
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,468
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,238
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(1)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Includes stock-based compensation
    expense of $0, $0, $156,000, $1.2&#160;million and
    $2.5&#160;million for the years ended July&#160;31, 2005, 2006,
    2007, 2008 and 2009, respectively, and $586,000 and $712,000 for
    the three months ended October&#160;31, 2008 and 2009,
    respectively.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(2)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">We anticipate that our investor and
    analyst presentations will include Adjusted EBITDA, which we
    define as net income plus net interest expense (income), income
    tax expense (benefit), depreciation and amortization, and
    stock-based compensation expense and which is a financial
    measure that is not calculated in accordance with GAAP. The
    table below provides a reconciliation of this non-GAAP financial
    measure to the most directly comparable financial measure
    calculated and presented in accordance with GAAP. Adjusted
    EBITDA should not be considered as an alternative to net income,
    operating income or any other measure of financial performance
    calculated and presented in accordance with GAAP. Our Adjusted
    EBITDA may not be comparable to similarly titled measures of
    other organizations because other organizations may not
    calculate Adjusted EBITDA in the same manner as we do. We
    prepare Adjusted EBITDA to eliminate the impact of items that we
    do not consider indicative of our core operating performance.
    You are encouraged to evaluate these adjustments and the reason
    we consider them appropriate.
    </FONT></TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    33
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">We believe Adjusted EBITDA is
    useful to investors in evaluating our operating performance for
    the following reasons:
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">Adjusted EBITDA is widely used by
    investors to measure a company&#146;s operating performance
    without regard to items, such as interest expense, income tax
    expense, depreciation and amortization, and stock-based
    compensation expense, that can vary substantially from company
    to company depending upon their financing structure and
    accounting policies, the book value of their assets, their
    capital structures and the method by which their assets were
    acquired;
    </FONT>
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">securities analysts use Adjusted
    EBITDA as a supplemental measure to evaluate the overall
    operating performance of companies;&#160;and
    </FONT>
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">we adopted a new accounting
    standard for stock-based compensation effective August&#160;1,
    2006 and recorded stock-based compensation expense of
    approximately $156,000, $1.2&#160;million and $2.5&#160;million
    for the years ended July&#160;31, 2007, 2008 and 2009,
    respectively, and $586,000 and $712,000 for the three months
    ended October&#160;31, 2008 and 2009, respectively. Prior to
    August&#160;1, 2006, we accounted for stock-based compensation
    using the intrinsic value method under previously issued
    guidance, which resulted in zero stock-based compensation
    expense. By comparing our Adjusted EBITDA in different
    historical periods, our investors can evaluate our operating
    results without the additional variations caused by stock-based
    compensation expense, which is not comparable from year to year
    due to changes in accounting treatment, changes in the fair
    market value of our common stock (which is influenced by
    external factors like the volatility of public markets) and the
    financial performance of our peers, and is not a key measure of
    our operations.
    </FONT>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Our management uses Adjusted EBITDA:
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">as a measure of operating
    performance, because it does not include the impact of items not
    directly resulting from our core operations;
    </FONT>
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">for planning purposes, including
    the preparation of our annual operating budget;
    </FONT>
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">to allocate resources to enhance
    the financial performance of our business;
    </FONT>
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">to evaluate the effectiveness of
    our business strategies;&#160;and
    </FONT>
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">in communications with our board of
    directors concerning our financial performance.
    </FONT>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">We understand that, although
    Adjusted EBITDA is frequently used by investors and securities
    analysts in their evaluations of companies, Adjusted EBITDA has
    limitations as an analytical tool, and you should not consider
    it in isolation or as a substitute for analysis of our results
    of operations as reported under GAAP. Some of these limitations
    are:
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">Adjusted EBITDA does not reflect
    our capital expenditures or future requirements for capital
    expenditures or other contractual commitments;
    </FONT>
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">Adjusted EBITDA does not reflect
    changes in, or cash requirements for, our working capital needs;
    </FONT>
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">Adjusted EBITDA does not reflect
    interest expense or interest income;
    </FONT>
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">Adjusted EBITDA does not reflect
    cash requirements for income taxes;
    </FONT>
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">although depreciation and
    amortization are non-cash charges, the assets being depreciated
    or amortized will often have to be replaced in the future, and
    Adjusted EBITDA does not reflect any cash requirements for these
    replacements;&#160;and
    </FONT>
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <FONT style="font-size: 8pt">&#149;&#160;
    </FONT>
</TD>
    <TD align="left">
    <FONT style="font-size: 8pt">other companies in our industry may
    calculate Adjusted EBITDA differently than we do, limiting its
    usefulness as a comparative measure.
    </FONT>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">The following table presents a
    reconciliation of Adjusted EBITDA (unaudited) to net income, the
    most comparable GAAP measure, for each of the periods indicated.
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 7pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="59%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Three Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Ended October&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2005</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" nowrap align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    <B>Reconciliation of Adjusted EBITDA to Net&#160;Income</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (4,877
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    535
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,647
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    17,335
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    37,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,827
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Interest expense (income), net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    174
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    522
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (146
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (418
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (395
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (210
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (60
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Income tax expense (benefit)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    111
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,346
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,261
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,902
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,219
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,533
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Depreciation and amortization
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,211
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,046
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,524
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,407
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,593
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,145
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,296
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Stock-based compensation expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    156
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,240
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,468
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    586
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    712
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Adjusted EBITDA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (3,492
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,214
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,835
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    34,825
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    70,731
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11,567
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    19,885
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(3)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Includes $6,025, $2,025, $2,285,
    $2,328, $15,367 and $15,381 of restricted cash at July&#160;31,
    2005, 2006, 2007, 2008, 2009 and October&#160;31, 2009,
    respectively.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(4)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Our retail distributors collect
    customer funds for purchases of new cards and reloads and then
    remit these funds directly to bank accounts established on
    behalf of those customers by the banks that issue our cards. Our
    retail distributors&#146; remittance of these funds takes an
    average of three business days. Settlement assets represent the
    amounts due from our retail distributors for customer funds
    collected at the point of sale that have not yet been remitted
    to the card issuing banks. Settlement obligations represent the
    amounts that are due from us to the card issuing banks for funds
    collected but not yet remitted by our retail distributors and
    are not funded by our line of credit. We have no control over or
    access to customer funds remitted by our retail distributors to
    the card issuing banks. Customer funds therefore are not our
    assets, and we do not recognize them in our consolidated
    financial statements.
    </FONT></TD>
</TR>

</TABLE>
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    <BR>
    34
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='110'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">MANAGEMENT&#146;S
    DISCUSSION AND ANALYSIS OF<BR>
    FINANCIAL CONDITION AND RESULTS OF OPERATIONS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>You should read the following discussion and analysis in
    conjunction with our consolidated financial statements and
    related notes contained elsewhere in this prospectus. This
    discussion contains forward-looking statements that involve
    risks, uncertainties and assumptions. Our actual results may
    differ materially from those anticipated in these
    forward-looking statements as a result of a variety of factors,
    including those set forth under &#147;Risk Factors&#148; and
    elsewhere in this prospectus.</I>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Overview</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Green Dot is a leading prepaid financial services company
    providing simple,
    <FONT style="white-space: nowrap">low-cost</FONT> and
    convenient money management solutions to a broad base of
    U.S.&#160;consumers. We believe that we are the leading provider
    of general purpose reloadable prepaid debit cards in the United
    States and that our Green Dot Network is the leading prepaid
    reload network in the United States. We sell our cards and offer
    our reload services nationwide at approximately 50,000 major
    retail stores, which provide consumers convenient access to our
    products and services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We were founded in October 1999 to distribute and service GPR
    cards. In 2001, we sold our first such card at a Rite Aid store
    in Virginia. Between 2001 and 2004, we concentrated on
    increasing our distribution capacity and established
    distribution agreements with CVS, The Pantry Stores (Kangaroo
    Express) and Radio Shack, among others. In 2004, we launched the
    Green Dot Network, which allowed our cardholders to reload funds
    onto their cards at any of our retail distributors&#146;
    locations regardless of where their cards were initially
    purchased. For example, this allowed our cards purchased at Rite
    Aid stores to be reloaded at CVS stores. We also began to market
    the Green Dot Network to providers of third-party prepaid card
    programs, which enabled their cardholders to reload funds onto
    their cards through our Green Dot Network. In 2005, we continued
    to expand our distribution capacity by establishing a
    distribution relationship with Walgreens. In May 2007, we began
    marketing and distributing Green Dot-branded cards over the
    Internet and through our website.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In October 2006, we entered into agreements with Walmart and GE
    Money Bank to manage a co-branded GPR card program for Walmart
    and to provide reload network services at Walmart stores through
    our Green Dot Network. After an extensive product design and
    pilot period, we launched the Walmart MoneyCard program in
    approximately 2,500, or 70%, of Walmart&#146;s U.S.&#160;stores
    in July 2007. In October 2007, we launched a Visa-branded
    non-reloadable gift card program at most of these stores. By
    October&#160;31, 2009, we offered the Walmart MoneyCard in more
    than 3,600, or 97%, of Walmart&#146;s U.S.&#160;stores. Since
    its inception, the Walmart MoneyCard program has been highly
    successful, contributing significantly to the increase in our
    total operating revenues. To enhance the value proposition to
    cardholders, in February 2009, significant pricing changes were
    made to the Walmart MoneyCard program. The new card fee, monthly
    maintenance fee and
    <FONT style="white-space: nowrap">point-of-sale,</FONT>
    or POS, swipe reload fee for Walmart MoneyCards at Walmart
    stores were each lowered to $3.00 from $8.94, $4.94 and $4.64,
    respectively. Our revenues from Walmart have increased
    significantly in response to these pricing changes, as
    substantial increases in volumes more than offset the revenue
    impact of the lower fees.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In July 2009, we re-launched our core Green Dot-branded GPR card
    with new packaging, features and pricing. Our innovative new
    package contains a temporary prepaid card, for the first time
    visible to the consumer through the packaging, that can be used
    immediately upon activation. New card features include free
    online bill payment services and a fee-free ATM network with
    approximately 17,000 participating ATMs. We reduced the new card
    fee from $9.95 to $4.95. We raised the monthly maintenance fee
    from $4.95 to $5.95, and at the same time instituted maintenance
    fee waivers for months in which cardholders either load $1,000
    or more onto their cards or make at least 30 purchase
    transactions in order to encourage increased card usage and
    cardholder retention. The re-launch of the Green Dot-branded GPR
    card generated significant increases in volume that more than
    offset the revenue impact of the lower new card fees.
</DIV>
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    <BR>
    35
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In September 2009, we further expanded our distribution capacity
    by entering into a distribution agreement with 7-Eleven. In
    September 2009, PayPal became a new acceptance member in the
    Green Dot Network, allowing PayPal account holders to add funds
    to their accounts using our MoneyPak product. These funds can be
    used immediately by account holders unlike funds loaded to
    PayPal accounts from a bank account, which may not be available
    for several days. In October 2009, we further expanded our
    distribution capacity by entering into a joint marketing and
    referral agreement with Intuit Inc. In January 2010, Intuit
    integrated into its TurboTax software an option that allows its
    customers to receive their tax refunds via direct deposit to a
    Green Dot co-branded GPR card called a TurboTax Refund Card.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Key Business
    Metrics</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We designed our business model to provide low-cost, easy-to-use
    financial products and services to a large number of customers
    through retail store and online distribution. We review a number
    of metrics to help us monitor the performance of, and identify
    trends affecting, our business. We believe the following
    measures are the primary indicators of our quarterly and annual
    performance.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Number of GPR Cards Activated&#160;&#150; </I>represents the
    total number of GPR cards sold through our retail and online
    distribution channels that are activated (and, in the case of
    our online channel, also funded) by cardholders in a specified
    period. We activated 894,000, 2.2&#160;million and
    3.1&#160;million GPR cards in fiscal 2007, 2008 and 2009,
    respectively, and 567,000 and 1.1&#160;million GPR cards in the
    three months ended October&#160;31, 2008 and 2009, respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Number of Cash Transfers&#160;&#150; </I>represents the total
    number of MoneyPak and POS swipe reload transactions that we
    sell through our retail distributors in a specified period. We
    sold 5.0&#160;million, 9.2&#160;million and 14.1&#160;million
    MoneyPak and POS swipe reload transactions in fiscal 2007, 2008
    and 2009, respectively, and 3.0&#160;million and
    4.8&#160;million MoneyPak and POS swipe reload transactions in
    the three months ended October&#160;31, 2008 and 2009,
    respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Number of Active Cards&#160;&#150; </I>represents the total
    number of GPR cards in our portfolio that have had a purchase,
    reload or ATM withdrawal transaction during the previous
    <FONT style="white-space: nowrap">90-day</FONT>
    period. We had 625,000, 1.3&#160;million and 2.1&#160;million
    active cards outstanding as of July&#160;31, 2007, 2008 and
    2009, respectively, and 1.3&#160;million and 2.4&#160;million
    active cards outstanding as of October&#160;31, 2008 and 2009,
    respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Gross Dollar Volume&#160;&#150; </I>represents the total
    dollar volume of funds loaded to our GPR card and MoneyPak
    products. Our gross dollar volume was $1.1&#160;billion,
    $2.8&#160;billion and $4.7&#160;billion in fiscal 2007, 2008 and
    2009, respectively, and $1.0&#160;billion and $1.6&#160;billion
    in the three months ended October&#160;31, 2008 and 2009,
    respectively.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Key components of
    our results of operations</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Operating
    Revenues</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We classify our operating revenues into the following three
    categories:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Card Revenues.</I>&#160;&#160;Card revenues consist of new
    card fees, monthly maintenance fees, ATM fees and other
    revenues. We charge new card fees when a consumer purchases a
    GPR or gift card in a retail store. We charge maintenance fees
    on GPR cards to cardholders on a monthly basis pursuant to the
    terms and conditions in our cardholder agreements. We charge ATM
    fees to cardholders when they withdraw money or conduct other
    transactions at certain ATMs in accordance with the terms and
    conditions in our cardholder agreements. Other revenues consist
    primarily of fees associated with optional products or services,
    which we generally offer to consumers during the card activation
    process. Optional products and services that generate other
    revenues include providing a second card for an account,
    expediting delivery of the personalized GPR card that replaces
    the temporary card obtained at the retail store and upgrading a
    cardholder account to one of our premium programs
    &#150;&#160;the VIP program or Premier Card program&#160;&#150;
    which provide benefits for our more active cardholders.
    Historically, our card revenues have also included customer
    service fees that we charged in accordance with the terms and
    conditions of our cardholder agreements.
</DIV>
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    <BR>
    36
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our aggregate new card fee revenues vary based upon the number
    of GPR cards activated and the average new card fee. The average
    new card fee depends primarily upon the mix of products that we
    sell since there are variations in new card fees among Green
    Dot-branded and co-branded products and between GPR cards and
    general purpose gift cards. Our aggregate monthly maintenance
    fee revenues vary primarily based upon the number of cards in
    our portfolio and the average fee assessed per account. Our
    average monthly maintenance fee per active account depends upon
    the mix of Green Dot-branded and co-branded cards in our
    portfolio and upon the extent to which fees are waived based on
    significant usage. Our aggregate ATM fee revenues vary based
    upon the number of cardholder ATM transactions and the average
    fee per ATM transaction. The average fee per ATM transaction
    depends upon the mix of Green Dot-branded and co-branded active
    cards in our portfolio and the extent to which cardholders
    enroll in our VIP program, which has no ATM fees, or make ATM
    transactions on our fee-free ATM network.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Cash Transfer Revenues.</I>&#160;&#160;We earn cash transfer
    revenues when consumers purchase and use a MoneyPak or fund
    their cards through a POS swipe reload transaction in a retail
    store. Our aggregate cash transfer revenues vary based upon the
    total number of MoneyPak and POS swipe reload transactions and
    the average price per MoneyPak or POS swipe reload transaction.
    The average price per MoneyPak or POS swipe reload transaction
    depends upon the relative numbers of cash transfer sales at our
    different retail distributors and on the mix of MoneyPak and POS
    swipe reload transactions at certain retailers that have
    different fees for the two types of reload transactions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Interchange Revenues.</I>&#160;&#160;We earn interchange
    revenues from fees remitted by the merchant&#146;s bank, which
    are based on rates established by Visa and MasterCard, when
    cardholders make purchase transactions using our cards. Our
    aggregate interchange revenues vary based primarily on the
    number of active cards in our portfolio and on the mix of
    cardholder purchases between those using signature
    identification technologies and those using personal
    identification numbers.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Operating
    Expenses</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We classify our operating expenses into the following four
    categories:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Sales and Marketing Expenses.</I>&#160;&#160;Sales and
    marketing expenses consist primarily of the sales commissions we
    pay to our retail distributors for sales of our GPR and gift
    cards and reload services in their stores, advertising and
    marketing expenses, the costs of manufacturing and distributing
    to our retail distributors card packages, placards and
    promotional materials and the costs associated with providing
    personalized GPR cards to consumers who have activated their
    cards. We generally establish sales commission percentages in
    long-term distribution agreements with our retail distributors,
    and aggregate sales commissions are determined by the number of
    prepaid cards and cash transfers sold at their respective retail
    stores. We incur advertising and marketing expenses for
    television and online advertisements of our products and through
    retailer-based print promotions and in-store displays.
    Advertising and marketing expenses are recognized as incurred
    and typically deliver a benefit over an extended period of time.
    For this reason, these expenses do not always track changes in
    revenues. Our manufacturing and distribution costs vary
    primarily based on the number of GPR cards activated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Compensation and Benefits
    Expenses.</I>&#160;&#160;Compensation and benefits expenses
    represent the compensation and benefits that we provide to our
    employees and the payments we make to third-party contractors.
    While we have an in-house customer service organization, we
    employ third-party contractors to conduct all call center
    operations, handle routine customer service inquiries and
    provide temporary support in the area of IT operations and
    elsewhere. Compensation and benefits expenses associated with
    our customer service and loss management functions generally
    vary in line with the size of our active card portfolio, while
    the expenses associated with other functions do not.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Processing Expenses.</I>&#160;&#160;Processing expenses
    consist primarily of the fees charged to us by the banks that
    issue our prepaid cards, the third-party card processor that
    maintains the records of our customers&#146; accounts and
    processes transaction authorizations and postings for us, and
    MasterCard
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    37
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    and Visa, which process transactions for us through their
    respective payment networks. These costs generally vary based on
    the total number of active cards in our portfolio.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Other General and Administrative
    Expenses.</I>&#160;&#160;Other general and administrative
    expenses consist primarily of professional service fees,
    telephone and communication costs, depreciation and amortization
    of our property and equipment, losses from unrecovered customer
    purchase transaction overdrafts and fraud, rent and utilities,
    and insurance. We incur telephone and communication costs
    primarily from customers contacting us through our toll-free
    telephone numbers. These costs vary with the total number of
    active cards in our portfolio as do losses from unrecovered
    customer purchase transaction overdrafts and fraud. Costs
    associated with professional services, depreciation and
    amortization of our property and equipment and rent and
    utilities vary based upon our investment in infrastructure, risk
    management and internal controls and are generally not
    correlated with our operating revenues or other transaction
    metrics.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Income Tax
    Expense</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our income tax expense consists of the federal and state
    corporate income taxes accrued on income resulting from the sale
    of our products and services. Since the majority of our
    operations are based in California, most of our state taxes are
    paid to that state.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Comparison of
    Three Months Ended October&#160;31, 2008 and 2009
    (unaudited)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Operating
    Revenues</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table presents the breakdown of operating revenues
    among card, cash transfer and interchange revenues:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="37%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="16%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="16%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Three Months Ended October&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(Dollars in thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Card revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    27,635
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52.5
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    30,532
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    46.1
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Cash transfer revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,556
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,807
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interchange revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,418
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,926
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total operating revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    52,609
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    66,265
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Card Revenues.</I>&#160;&#160;Our card revenues totaled
    $30.5&#160;million in the three months ended October&#160;31,
    2009, an increase of $2.9&#160;million, or 10%, from the
    comparable period in fiscal 2008. This increase was primarily
    due to
    <FONT style="white-space: nowrap">period-over-period</FONT>
    growth of 97% in the number of GPR cards activated and 79% in
    the number of active cards in our portfolio, largely offset by
    the February 2009 reduction in new card and monthly maintenance
    fees for the Walmart MoneyCard and the July 2009 reduction in
    the new card fee for Green Dot-branded cards. These fee
    reductions also contributed to the decline in card revenues as a
    percentage of total operating revenues. We expect our card
    revenues will continue to increase in absolute dollars as the
    number of our cards grows, but we do not expect them to shift
    significantly as a percentage of our total operating revenues
    from the percentage for the three months ended October&#160;31,
    2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Cash Transfer Revenues.</I>&#160;&#160;Our cash transfer
    revenues totaled $17.8&#160;million in the three months ended
    October&#160;31, 2009, an increase of $3.3&#160;million, or 22%,
    from the comparable period in fiscal 2008. This increase was
    primarily due to
    <FONT style="white-space: nowrap">period-over-period</FONT>
    growth of 61% in the number of cash transfers sold, partially
    offset by a shift in our retail distributor mix toward Walmart,
    which generally has lower fees than our other retail
    distributors and significantly reduced the POS swipe reload fee
    in February 2009. We expect our cash transfer revenues will
    continue to increase in absolute dollars in because of the
    recent increase in the number of GPR cards activated and the
    addition of PayPal as a network acceptance member, but we do not
    expect them to shift significantly as a percentage of total
    operating revenues from the percentage for the three months
    ended October&#160;31, 2009.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    38
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Interchange Revenues.</I>&#160;&#160;Our interchange revenues
    totaled $17.9&#160;million in the three months ended
    October&#160;31, 2009, an increase of $7.5&#160;million, or 72%,
    from the comparable period in fiscal 2008. This increase was
    primarily due to
    <FONT style="white-space: nowrap">period-over-period</FONT>
    growth of 79% in the number of active cards in our portfolio. We
    expect our interchange revenues will continue to increase in
    absolute dollars, but we do not expect them to shift
    significantly as a percentage of total operating revenues from
    the percentage for the three months ended October&#160;31, 2009.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Operating
    Expenses</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table presents the breakdown of operating expenses
    among sales and marketing, compensation and benefits,
    processing, and other general and administrative expenses:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
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    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
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<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Three Months Ended October&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(Dollars in thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Sales and marketing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    20,538
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18,165
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Compensation and benefits expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,191
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,067
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Processing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,297
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,053
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other general and administrative expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,747
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,103
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    42,773
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    81.3
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    48,388
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    73.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Sales and Marketing Expenses.</I>&#160;&#160;Our sales and
    marketing expenses were $18.2&#160;million in the three months
    ended October&#160;31, 2009, a decrease of $2.4&#160;million, or
    12%, from the comparable period in fiscal 2008. This decrease
    was primarily the result of a $4.4&#160;million decline in
    advertising and marketing expenses. During the 2009 comparison
    period, we did no television advertising and deployed fewer new
    in-store displays. The decrease in sales and marketing expenses
    was also the result of a $0.4&#160;million, or 4%, decline in
    the sales commissions we paid to our retail distributors and
    brokers because of reductions in the commission percentages we
    paid to our retail distributors, most significantly Walmart.
    These declines were partially offset by a $2.4&#160;million
    increase in the manufacturing and distribution costs of card
    packaging, placards and promotional materials due to increased
    numbers of GPR cards and MoneyPaks sold. We expect our sales and
    marketing expenses as a percentage of our total operating
    revenues to increase significantly in the year ending
    December&#160;31, 2010 from the percentage in the three months
    ended October&#160;31, 2009 as we strategically engage in
    television advertising, which we recommenced in January 2010,
    and as the contractual sales commission percentage that we are
    obligated to pay to Walmart increases substantially in May 2010
    to a level approximating where it was before
    mid-February&#160;2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Compensation and Benefits Expenses.</I>&#160;&#160;Our
    compensation and benefits expenses were $12.1&#160;million in
    the three months ended October&#160;31, 2009, an increase of
    $2.9&#160;million, or 31%, from the comparable period in fiscal
    2008. This increase was primarily the result of a
    $2.1&#160;million increase in third-party contractor expenses as
    the number of active cards in our portfolio and associated call
    volumes grew from the three months ended October&#160;31, 2008
    to the comparable period in fiscal 2009. This increase was also
    the result of a $0.8&#160;million increase in employee
    compensation and benefits, including a $0.1&#160;million
    increase in stock-based compensation, as our headcount grew from
    241 as of October&#160;31, 2008 to 256 as of October&#160;31,
    2009. We expect our compensation and benefits expenses to
    increase as we continue to add personnel and incur additional
    third-party contractor expenses to support expanding operations
    and as we assume the reporting requirements and compliance
    obligations of a public company. However, we expect these
    expenses to decline as a percentage of our total operating
    revenues from the percentage in the three months ended
    October&#160;31, 2009 since aggregate
</DIV>
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    <BR>
    39
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    compensation and benefits should grow more slowly than total
    operating revenues as we scale our business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Processing Expenses.</I>&#160;&#160;Our processing expenses
    were $10.1&#160;million in the three months ended
    October&#160;31, 2009, an increase of $2.8&#160;million, or 38%,
    from the comparable period in fiscal 2008. This increase was
    primarily the result of
    <FONT style="white-space: nowrap">period-over-period</FONT>
    growth of 79% in the number of active cards in our portfolio,
    partially offset by lower fees charged to us under agreements
    with one of the banks that issue our cards and our third-party
    card processor that became effective in November 2008 and by
    more efficient use of our card processor through the purging of
    inactive accounts and a more effective use of analysis and
    reporting tools. We expect our processing expenses to increase
    in absolute dollars but to decline slowly as a percentage of our
    total operating revenues from the percentage in the three months
    ended October&#160;31, 2009 as our contracts with our
    third-party providers generally contain tiered-pricing
    structures under which an increasing number of transactions and
    cards result in lower per-transaction costs.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Other General and Administrative Expenses.</I>&#160;&#160;Our
    other general and administrative expenses were $8.1&#160;million
    in the three months ended October&#160;31, 2009, an increase of
    $2.4&#160;million, or 41%, from the comparable period in fiscal
    2008. This increase was primarily the result of a
    $1.6&#160;million increase in professional service fees due to
    our potential bank acquisition and other corporate development
    initiatives and a $0.6&#160;million increase in telephone and
    communication expenses due to increased use of our call center
    and our interactive voice response system, or IVR, as the number
    of active cards in our portfolio increased. We expect these
    expenses to increase in absolute dollars as we incur additional
    costs related to the growth of our business and as we assume the
    reporting requirements and compliance obligations of a public
    company. However, we expect these expenses to decline as a
    percentage of our total operating revenues from the percentage
    in the three months ended October&#160;31, 2009 as we benefit
    from past significant investments that we have made and from the
    potential acquisition of a bank.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Income Tax
    Expense</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table presents the breakdown of our effective tax
    rate among federal, state and other:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="82%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Three Months Ended October&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    U.S. federal income tax
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    State income taxes, net of federal benefit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Income tax expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our income tax expense increased by $3.3&#160;million to
    $7.5&#160;million in the three months ended October&#160;31,
    2009, but there was no change in the effective tax rate. We
    expect our effective tax rate to decline over the next two years
    as changes in California tax law result in less of our income
    before income taxes being allocated to the state of California.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    40
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Comparison of
    Fiscal 2008 and 2009</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Operating
    Revenues</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table presents the breakdown of operating revenues
    among card, cash transfer and interchange revenues:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="35%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="16%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="16%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(Dollars in thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Card revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    91,233
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    54.3
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    119,356
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50.8
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Cash transfer revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,310
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    62,396
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26.6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interchange revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,583
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53,064
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22.6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total operating revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    168,126
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    234,816
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Card Revenues.</I>&#160;&#160;Our card revenues totaled
    $119.4&#160;million in fiscal 2009, an increase of
    $28.1&#160;million, or 31%, from fiscal 2008. This increase was
    primarily due to
    <FONT style="white-space: nowrap">year-over-year</FONT>
    growth of 43% in the number of GPR cards activated and 62% in
    the number of active cards in our portfolio, partially offset by
    the February 2009 reduction in new card and monthly maintenance
    fees for the Walmart MoneyCard. This reduction in fees also
    contributed to the decline in card revenues as a percentage of
    total operating revenues.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Cash Transfer Revenues.</I>&#160;&#160;Our cash transfer
    revenues totaled $62.4&#160;million in fiscal 2009, an increase
    of $17.1&#160;million, or 38%, from fiscal 2008. This increase
    was primarily due to
    <FONT style="white-space: nowrap">year-over-year</FONT>
    growth of 54% in the number of cash transfers, partially offset
    by a shift in our retail distributor mix toward Walmart, which
    generally has lower fees than our other retail distributors and
    significantly reduced the POS swipe reload fee in February 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Interchange Revenues.</I>&#160;&#160;Our interchange revenues
    totaled $53.1&#160;million in fiscal 2009, an increase of
    $21.5&#160;million, or 68%, from fiscal 2008. This increase was
    primarily due to
    <FONT style="white-space: nowrap">year-over-year</FONT>
    growth of 62% in the number of active cards in our portfolio.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Operating
    Expenses</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table presents the breakdown of operating expenses
    among sales and marketing, compensation and benefits,
    processing, and other general and administrative expenses:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="38%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="16%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="16%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(Dollars in thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Sales and marketing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    69,577
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    75,786
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32.3
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Compensation and benefits expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,303
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,096
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Processing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,944
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,320
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other general and administrative expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,124
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,944
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    138,948
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82.6
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    171,146
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    72.9
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Sales and Marketing Expenses.</I>&#160;&#160;Our sales and
    marketing expenses were $75.8&#160;million in fiscal 2009, an
    increase of $6.2&#160;million, or 9%, from fiscal 2008. This
    increase was primarily the result of a $10.1&#160;million, or
    25%, increase in the sales commissions we paid to our retail
    distributors and brokers.
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    41
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Aggregate commissions increased because of increased sales, but
    the impact of these increased sales was offset in part by a
    reduction in pricing and commission rates at Walmart. The
    increase in sales and marketing expenses was also the result of
    a $2.7&#160;million increase in the manufacturing and
    distribution costs of card packages, placards and promotional
    materials due to the re-launch of our Green Dot-branded products
    and increased numbers of GPR cards and MoneyPaks sold. These
    sales and marketing expense increases were partially offset by a
    $6.6&#160;million decline in advertising and marketing expenses,
    principally as a result of our decision not to use television
    advertising during fiscal 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Compensation and Benefits Expenses.</I>&#160;&#160;Our
    compensation and benefits expenses were $40.1&#160;million in
    fiscal 2009, an increase of $11.8&#160;million, or 42%, from
    fiscal 2008. This increase was primarily the result of a
    $9.0&#160;million increase in employee compensation and
    benefits, including a $1.2&#160;million increase in stock-based
    compensation, as our headcount grew from 209 at the end of
    fiscal 2008 to 248 at the end of fiscal 2009 and we hired
    several new members of management. Third-party contractor
    expenses also increased by $2.8&#160;million as the number of
    active cards in our portfolio and associated call volumes grew
    from fiscal 2008 to fiscal 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Processing Expenses.</I>&#160;&#160;Our processing expenses
    were $32.3&#160;million in fiscal 2009, an increase of
    $10.4&#160;million, or 47%, from fiscal 2008. This increase was
    primarily the result of
    <FONT style="white-space: nowrap">year-over-year</FONT>
    growth of 62% in the number of active cards in our portfolio.
    This growth was partially offset by lower fees charged to us
    under agreements with one of the banks that issue our cards and
    our third-party card processor that became effective in November
    2008 and by more efficient use of our card processor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Other General and Administrative Expenses.</I>&#160;&#160;Our
    other general and administrative expenses were
    $22.9&#160;million in fiscal 2009, an increase of
    $3.8&#160;million, or 20%, from fiscal 2008. This increase was
    primarily the result of a $1.6&#160;million increase in
    telephone and communication expenses due to increased call
    volumes as the number of active cards in our portfolio increased
    and a $1.4&#160;million increase in professional service fees
    primarily associated with corporate development initiatives. We
    also had increases of $0.4&#160;million in rent due to
    additional office space that we leased to support our increased
    headcount and $0.4&#160;million related to the write-off of
    abandoned internal-use software. These increases were partially
    offset by the reversal of a $0.5&#160;million reserve that was
    accrued in fiscal 2008 for a potential litigation settlement.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Income Tax
    Expense</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table presents the breakdown of our effective tax
    rate among federal, state and other:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="82%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    U.S. federal income tax
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    State income taxes, net of federal benefit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Income tax expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our income tax expense increased by $14.6&#160;million from
    fiscal 2008 to $26.9&#160;million in fiscal 2009, an effective
    tax rate increase of 0.9% from 41.4% to 42.0%. This increase was
    primarily due to the utilization in fiscal 2008 of our remaining
    net operating loss carryforwards to reduce taxable income.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    42
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Comparison of
    Fiscal 2007 and 2008</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Operating
    Revenues</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table presents the breakdown of operating revenues
    among card, cash transfer and interchange revenues (in
    thousands, except percentages):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="36%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="16%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="16%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(Dollars in thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Card revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    45,717
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    54.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    91,233
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    54.3
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Cash transfer revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,419
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,310
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interchange revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,488
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,583
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total operating revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    83,624
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    168,126
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Card Revenues.</I>&#160;&#160;Our card revenues totaled
    $91.2&#160;million in fiscal 2008, an increase of
    $45.5&#160;million, or 100%, from fiscal 2007. This increase was
    primarily due to
    <FONT style="white-space: nowrap">year-over-year</FONT>
    growth of 142% in the number of GPR cards activated and 103% in
    the number of active cards in our portfolio.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Cash Transfer Revenues.</I>&#160;&#160;Our cash transfer
    revenues totaled $45.3&#160;million in fiscal 2008, an increase
    of $19.9&#160;million, or 78%, from fiscal 2007. This increase
    was primarily due to
    <FONT style="white-space: nowrap">year-over-year</FONT>
    growth of 83% in the number of cash transfers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Interchange Revenues.</I>&#160;&#160;Our interchange revenues
    totaled $31.6&#160;million in fiscal 2008, an increase of
    $19.1&#160;million, or 153%, from fiscal 2007. This increase was
    primarily due to
    <FONT style="white-space: nowrap">year-over-year</FONT>
    growth of 103% in the number of active cards in our portfolio.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Operating
    Expenses</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table presents the breakdown of operating expenses
    among sales and marketing, compensation and benefits,
    processing, and other general and administrative expenses:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="39%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="16%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="16%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage of Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(Dollars in thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Sales and marketing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    38,838
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    46.5
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    69,577
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Compensation and benefits expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,610
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24.6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,303
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Processing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,809
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,944
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other general and administrative expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,212
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,124
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    82,469
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    98.6
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    138,948
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82.6
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Sales and Marketing Expenses.</I>&#160;&#160;Our sales and
    marketing expenses were $69.6&#160;million in fiscal 2008, an
    increase of $30.7&#160;million, or 79%, from fiscal 2007. This
    increase was primarily the result of a $14.5&#160;million, or
    55%, increase in the sales commissions we paid to our retail
    distributors and brokers and a $9.8&#160;million increase in the
    manufacturing and distribution costs of our card packaging,
    placards and promotional materials. Sales commissions and
    manufacturing and distribution costs increased principally due
    to increased sales of GPR cards and cash loading services.
    Advertising and marketing expenses also increased by
    $6.4&#160;million from fiscal 2007 to fiscal 2008 as a result of
    significant television advertising in fiscal 2008.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    43
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Compensation and Benefits Expenses.</I>&#160;&#160;Our
    compensation and benefits expenses were $28.3&#160;million in
    fiscal 2008, an increase of $7.7&#160;million, or 37%, from
    fiscal 2007. This increase was primarily the result of a
    $4.3&#160;million increase in employee compensation and
    benefits, including a $1.1&#160;million increase in stock-based
    compensation, as our headcount increased from 160 at the end of
    fiscal 2007 to 209 at the end of fiscal 2008. Third-party
    contractor expenses also increased by $3.3&#160;million from
    fiscal 2007 to fiscal 2008 as the number of active cards in our
    portfolio and associated call volumes grew from fiscal 2007 to
    fiscal 2008.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Processing Expenses.</I>&#160;&#160;Our processing expenses
    were $21.9&#160;million in fiscal 2008, an increase of
    $12.1&#160;million, or 124%, from fiscal 2007. This increase was
    primarily the result of
    <FONT style="white-space: nowrap">year-over-year</FONT>
    growth of 103% in the number of active cards in our portfolio.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Other General and Administrative Expenses.</I>&#160;&#160;Our
    other general and administrative expenses were
    $19.1&#160;million in fiscal 2008, an increase of
    $5.9&#160;million, or 45%, from fiscal 2007. This increase was
    primarily the result of a $1.6&#160;million increase in
    professional services fees related, among other things, to an
    uncompleted financing transaction, a $1.1&#160;million increase
    in telephone and communications expenses primarily related to
    growth in call center volumes and a $1.1&#160;million increase
    in losses from fraud and purchase transaction overdrafts. Call
    center volumes and losses from fraud and purchase transaction
    overdrafts increased as the number of active cards in our
    portfolio increased. Additionally, depreciation and amortization
    of property and equipment increased by $0.9&#160;million due to
    expansion of our infrastructure to support our growth, we
    accrued $0.5&#160;million for a potential litigation settlement
    and we had a $0.3&#160;million increase in repair and
    maintenance expenses.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Income Tax
    (Benefit) Expense</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table presents the breakdown of our effective tax
    rate among federal, state and other:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="81%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="7%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    U.S. federal income tax
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    State income taxes, net of federal benefit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Change in valuation allowance
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (288.9
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9.4
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Income tax (benefit) expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (257.2
</TD>
<TD nowrap align="left" valign="bottom">
    )%
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In fiscal 2007, we had an income tax benefit of
    $3.3&#160;million, and in fiscal 2008 we had an income tax
    expense of $12.3&#160;million. The $15.6&#160;million change was
    primarily due to federal and state net operating loss
    carryforwards of $2.8&#160;million and $2.7&#160;million,
    respectively, that were applied in 2007 to reduce taxable income
    along with a $3.8&#160;million reduction in the valuation
    allowance associated with our deferred tax asset in fiscal 2007.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    44
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Quarterly Results
    of Operations</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following tables set forth unaudited quarterly consolidated
    statement of income data for fiscal 2008 and 2009 and for the
    three months ended October&#160;31, 2009, as well as the
    percentage of our total operating revenues that each line item
    represented. We have prepared our consolidated statements of
    operations for each of these quarters on the same basis as the
    audited consolidated financial statements included elsewhere in
    this prospectus, except for certain consolidated statements of
    operations items related to income allocated to common
    stockholders and earnings per common share and, in the opinion
    of our management, each statement of operations includes all
    adjustments, consisting solely of normal recurring adjustments,
    necessary for the fair statement of the results of operations
    for these periods. This information should be read in
    conjunction with the consolidated financial statements and
    related notes included elsewhere in this prospectus. These
    quarterly operating results are not necessarily indicative of
    our operating results for any future period.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="36%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=09 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=09 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=09 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=09 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=10 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=10 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=10 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=10 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="34" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Three Months Ended</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Oct.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Jan.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>April&#160;30,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>July&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Oct.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Jan.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>April&#160;30,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>July&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Oct.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="34" align="center" valign="bottom">
    <B>(Unaudited, in thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Operating revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Card revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    16,981
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    21,166
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    25,787
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    27,299
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    27,635
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    28,983
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    31,376
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    31,362
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    30,532
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Cash transfer revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,531
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,498
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,770
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,511
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,556
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,216
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,634
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,990
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,807
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Interchange revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,973
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,365
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,152
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,093
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,418
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,852
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,715
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,079
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,926
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Total operating revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30,485
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39,029
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    47,709
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50,903
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,609
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    56,051
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    61,725
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    64,431
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    66,265
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Operating expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Sales and marketing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,437
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,456
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,331
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,353
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,538
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,437
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,840
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,971
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,165
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Compensation and benefits expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,333
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,552
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,518
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,900
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,191
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,266
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,782
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,857
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,067
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Processing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,894
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,013
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,208
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,829
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,297
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,890
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,338
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,795
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,053
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Other general and administrative expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,069
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,276
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,838
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,941
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,747
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,532
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,408
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,257
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,103
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Total operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29,733
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    33,297
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36,895
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39,023
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,773
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    43,125
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41,368
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    43,880
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    48,388
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Operating income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    752
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,732
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,814
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,880
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,836
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,926
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,357
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,551
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,877
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Interest income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    145
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    135
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    168
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    217
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    210
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    62
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    43
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    81
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Interest expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (102
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (84
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (61
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Income before income taxes
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    795
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,783
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,921
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,097
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,046
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,987
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,400
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,632
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,937
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Income tax expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    328
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,396
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,525
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,012
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,219
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,566
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,663
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,533
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    467
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,387
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6,396
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,085
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,827
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,533
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11,834
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11,969
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    45
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="43%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=09 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=09 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=09 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=09 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=10 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=10 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=10 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=10 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="34" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As a Percentage of Total Operating Revenues</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="34" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Three Months Ended</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Oct.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Jan.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>April&#160;30,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>July&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Oct.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Jan.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>April&#160;30,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>July&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Oct.&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Operating revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Card revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    55.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    54.2
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    54.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52.5
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    51.8
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50.9
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    48.6
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    46.1
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Cash transfer revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Interchange revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Total operating revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Operating expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Sales and marketing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50.6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Compensation and benefits expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Processing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Other general and administrative expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Total operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    97.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    85.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    77.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    76.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    81.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    76.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    67.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    68.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    73.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Operating income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    33.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Interest income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Interest expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (0.4
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (0.2
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (0.1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Income before income taxes
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    33.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Income tax expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.5
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.9
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.1
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19.2
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.6
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our total operating revenues have increased sequentially in each
    of the quarters presented due primarily to a combination of
    increased numbers of cash transfers sold and growth in our
    portfolio of active cards. Our numbers of sales and active cards
    have increased as we have sold our products in a growing number
    of retail locations and increased same-store sales. Cash
    transfer revenues and interchange revenues have increased
    sequentially in each of the quarters presented because of steady
    growth in the number of cash transfers, network acceptance
    members, and active cards in our portfolio. Over the periods
    presented, we have experienced fluctuations in the growth rate
    of our card revenues, from a 24.6% increase between the quarters
    ended October&#160;31, 2007 and January&#160;31, 2008, due
    primarily to seasonality in the number of GPR cards activated
    and to a lesser extent to the introduction of gift cards in
    Walmart stores for the 2007 holiday season, to a 2.6% decrease
    between the quarters ended July 31 and October&#160;31, 2009,
    due primarily to the July 2009 reduction in the new card fee for
    our Green Dot-branded GPR cards, substantially offset by the
    growth in sales of those cards. Monthly maintenance fees and ATM
    fees, currently the other large components of card revenues
    besides new card fees, have increased sequentially in each of
    the quarters presented, while the remaining component of card
    revenues&#160;&#150; other revenues&#160;&#150; has generally
    declined. We generally experience seasonal growth in total
    operating revenues during the holiday period and during tax
    season due to increased sales of cards, increased reloads and
    increased card usage.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our total operating expenses have generally increased
    sequentially in each of the quarters presented. The decline in
    total operating expenses and sales and marketing expenses
    between the quarters ended January 31 and April&#160;30, 2009
    was due primarily to lower sales commission percentages
    coinciding with lower pricing on the Walmart MoneyCard effective
    mid-February 2009. We continued to benefit from these lower
    commission percentages in the quarters ended July 31 and
    October&#160;31, 2009. Sales and marketing expenses increased
    between the quarters ended July 31 and October&#160;31, 2009 as
    a result of new revenue-sharing arrangements with two of our
    largest retail distributors and increased packaging costs
    associated with the relaunch of our Green Dot branded card.
    Sales and marketing expenses will increase again significantly
    in May 2010 as the contractual sales commission percentage that
    we are obligated to pay Walmart returns to a level approximating
    where it was before the decrease in mid-February&#160;2009.
    Processing expenses declined by 5.6% from the quarter ended
    October&#160;31, 2008 to the quarter ended January&#160;31, 2009
    due to lower fees charged to us under agreements with one of the
    banks that issue our cards and our third-party card processor
    that became effective in November 2008 and to more efficient use
    of our card processor. Other
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    46
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    general and administrative expenses increased 22.8% between the
    quarters ended April 30, 2008 and July&#160;31, 2008 primarily
    because we accrued a $500,000 legal reserve. This reserve was
    reversed in the quarter ended April&#160;30, 2009 due to a
    favorable judgment during that period. Other general and
    administrative expenses increased 29.5% between the quarters
    ended July 31, 2009 and October&#160;31, 2009 primarily because
    of a $1.5&#160;million increase in professional service fees.
    This increase in professional service fees was primarily related
    to our potential bank acquisition.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Liquidity and
    Capital Resources</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table sets forth the major sources and uses of
    cash for our last three fiscal years ended July 31 and for the
    three months ended October&#160;31, 2008 and 2009:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="41%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Three Months Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>October&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>(unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net cash provided by (used in) operating activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,461
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    35,006
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    35,297
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (1,680
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18,841
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net cash used in investing activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,558
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,163
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (19,400
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,229
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,263
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net cash provided by (used in) financing activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    158
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,264
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (28,618
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net (decrease) increase in unrestricted cash and cash equivalents
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (1,939
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    26,579
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (12,721
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (2,909
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    16,678
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In fiscal 2007, 2008 and 2009 and the three months ended
    October&#160;31, 2009, we financed our operations primarily
    through our cash flows from operations. At October&#160;31,
    2009, our primary source of liquidity was unrestricted cash and
    cash equivalents totaling $43.2&#160;million.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We use trend and variance analyses to project future cash needs,
    making adjustments to the projections when needed. We believe
    that our current unrestricted cash and cash equivalents and cash
    flows from operations will be sufficient to meet our working
    capital and capital expenditure requirements for at least the
    next twelve months. Thereafter, we may need to raise additional
    funds through public or private financings or borrowings. Any
    additional financing we require may not be available on terms
    that are favorable to us, or at all. If we raise additional
    funds through the issuance of equity or convertible debt
    securities, our existing stockholders could suffer significant
    dilution, and any new equity securities we issue could have
    rights, preferences and privileges superior to those of holders
    of our Class&#160;A common stock, including shares of our
    Class&#160;A common stock sold in this offering. No assurance
    can be given that additional financing will be available or
    that, if available, such financing can be obtained on terms
    favorable to our stockholders and us.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Cash Flows
    From Operating Activities</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The $18.8&#160;million of net cash provided by operating
    activities in the three months ended October&#160;31, 2009
    resulted from $10.4&#160;million of net income, the adjustment
    for non-cash operating expenses of $8.6&#160;million (including
    $6.5&#160;million for provisions for uncollectible overdrawn
    accounts, $1.3&#160;million of depreciation and amortization and
    $712,000 of stock-based compensation), an increase of
    $6.2&#160;million in income taxes payable, an increase of
    $1.5&#160;million in amounts due to issuing banks for overdrawn
    accounts, and an increase of $1.5&#160;million in accounts
    payable and accrued liabilities. These increases were partially
    offset by a $7.3&#160;million increase in accounts receivable
    and a $1.5&#160;million increase in prepaid expenses and other
    assets. The increase in our accounts receivable balance was
    primarily related to the increase in the number of our GPR cards
    outstanding that are not active cards but on which we charge a
    monthly maintenance fee. This increase was partially offset by a
    $6.5&#160;million provision for uncollectible overdrawn accounts
    that increased the reserve held against the accounts receivable
    balance.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    47
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The $35.3&#160;million of net cash provided by operating
    activities in fiscal 2009 resulted from $37.2&#160;million of
    net income, the adjustment for non-cash operating expenses of
    $28.3&#160;million (including $22.5&#160;million for provisions
    for uncollectible overdrawn accounts, $4.6&#160;million for
    depreciation and amortization and $2.5&#160;million for
    stock-based compensation, partially offset by a
    $1.7&#160;million deferred income tax benefit), a
    $3.2&#160;million increase in accounts payable and accrued
    liabilities, a $2.3&#160;million decrease in deferred expenses
    and a $1.4&#160;million increase in income taxes payable. These
    were offset by a $29.9&#160;million increase in accounts
    receivable and a $5.3&#160;million decrease in the amounts due
    to issuing banks for overdrawn accounts. Although increases in
    accounts receivable are generally partially offset by increases
    in amounts due to issuing banks for overdrawn accounts, during
    the year ended July&#160;31, 2009, we amended our agreement with
    one of our issuing banks, expediting the settlement timing of
    amounts due to them for overdrawn card accounts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our $35.0&#160;million of net cash provided by operating
    activities in fiscal 2008 resulted from $17.3&#160;million of
    net income, the adjustment for non-cash operating expenses of
    $21.9&#160;million (including $16.1&#160;million for provisions
    for uncollectible overdrawn accounts, $4.4&#160;million for
    depreciation and amortization and $1.2&#160;million for
    stock-based compensation), a $10.8&#160;million increase in the
    amounts due to issuing banks for overdrawn accounts, a
    $4.7&#160;million increase in accounts payable and accrued
    liabilities, a $4.4&#160;million increase in deferred revenue
    and a $3.2&#160;million increase in income taxes payable. These
    were partially offset by a $24.7&#160;million increase in
    accounts receivable, a $2.8&#160;million increase in deferred
    expenses and a $2.3&#160;million increase in prepaid expenses
    and other assets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our $2.5&#160;million of net cash provided by operating
    activities in fiscal 2007 resulted from $4.6&#160;million of net
    income, the adjustment for non-cash operating expenses of
    $8.8&#160;million (including $7.9&#160;million for provision for
    uncollectible overdrawn accounts and $3.5&#160;million for
    depreciation and amortization, partially offset by a
    $2.6&#160;million deferred income tax benefit), a
    $3.9&#160;million increase in the amounts due to issuing banks
    for overdrawn accounts and a $2.6&#160;million increase in
    accounts payable and accrued liabilities. These were partially
    offset by an $11.0&#160;million increase in accounts receivable,
    a $4.5&#160;million decrease in income taxes payable, a
    $2.0&#160;million decrease in deferred revenue.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Cash Flows
    From Investing Activities</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Net cash used in investing activities in the three months ended
    October&#160;31, 2009 consisted almost entirely of the purchase
    of property and equipment of $2.2&#160;million. Net cash used in
    investing activities in fiscal 2009 consisted of the purchase of
    property and equipment of $6.4&#160;million related to expanding
    our operations, including the development of internal-use
    software, which we capitalized, and a $13.0&#160;million
    increase in restricted cash. In fiscal 2009, we renewed our line
    of credit, which is used to fund timing differences between
    funds remitted by our retail distributors to the banks that
    issue our cards and funds utilized by our cardholders, and
    elected to increase our restricted deposits to
    $15.0&#160;million at the lending institution as collateral in
    order to reduce the commitment fees we would incur on this line
    of credit. Net cash used in investing activities in fiscal 2007
    and 2008 consisted primarily of the purchase of computer
    hardware and software and the development of internal-use
    software.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Cash Flows
    From Financing Activities</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our $100,000 of net cash provided by financing activities for
    the three months ended October&#160;31, 2009 was entirely the
    result of the exercise of stock options. Our $28.6&#160;million
    of net cash used in financing activities in fiscal 2009 was
    primarily associated with the redemption in full of our
    Series&#160;D redeemable preferred stock. We entered into an
    agreement in December 2008 with the sole holder of these
    securities to pay $39.2&#160;million for an early redemption of
    all outstanding shares of our Series&#160;D redeemable preferred
    stock and the purchase of a call option on a common stock
    warrant held by this stockholder. In June 2009, we exercised the
    call option on the warrant for $2.0&#160;million. We also
    received proceeds of $13.0&#160;million related to the issuance
    of our
    <FONT style="white-space: nowrap">Series&#160;C-2</FONT>
    preferred stock in fiscal 2009. Net cash used in financing
    activities in fiscal 2008 was primarily associated with
    principal
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    48
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    payments on short-term debt of $2.4&#160;million and net
    repayments on our line of credit of $2.5&#160;million, offset by
    proceeds of $1.7&#160;million from the exercise of options. Net
    cash provided by financing activities in fiscal 2007 was
    primarily associated with net borrowings on our line of credit
    of $2.5&#160;million, offset by principal payments on short-term
    debt of $2.6&#160;million. In fiscal 2007, we also issued
    Series&#160;D redeemable preferred stock and a freestanding
    warrant for total consideration of $20.0&#160;million and used
    the proceeds to repurchase $20.0&#160;million of common and
    preferred stock from our existing stockholders.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Contractual
    Obligations and Commitments</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our contractual commitments will have an impact on our future
    liquidity. The following table summarizes our contractual
    obligations, including both on-and off-balance sheet
    transactions that represent material expected or contractually
    committed future obligations, at July&#160;31, 2009. We believe
    that we will be able to fund these obligations through cash
    generated from operations and from our existing cash balances.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="40%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="13%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="15%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Payments Due by Period</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Total</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Less Than 1&#160;Year</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>1-3&#160;Years</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>3-5&#160;Years</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>More Than 5&#160;Years</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Long-term debt obligations
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Capital lease obligations
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating lease obligations
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,911
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,692
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,932
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    287
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Purchase obligations(1)(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    601
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    601
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other long-term liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,512
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,293
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,932
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    287
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    In September 2009, we renewed our processing services agreement
    with our third-party card processor through September 2012. The
    terms of this agreement include minimum monthly payments. In
    October 2009, we amended an existing contract with one of our
    retail distributors. The amendment calls for guaranteed payments
    to the retail distributor. At October&#160;31, 2009, the minimum
    aggregate commitment under these agreements was as follows (in
    thousands):</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="90%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Year Ending July 31,</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,853
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,883
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,902
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2013
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    125
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Thereafter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    36,763
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In the event we terminate our processing services agreement for
    convenience, we are required to pay a single lump sum equal to
    any minimum payments remaining on the date of termination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    In November 2009, we entered into a new agreement with an
    existing card issuing bank. The terms of the agreement include
    future minimum annual payments. The minimum aggregate commitment
    under this agreement was (in thousands):</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    49
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="91%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Year Ending July 31,</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,440
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,920
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,920
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2013
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    640
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Thereafter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,920
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Off-Balance Sheet
    Arrangements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    During 2007, 2008 and 2009, we did not have any relationships
    with unconsolidated organizations or financial partnerships,
    such as structured finance or special purpose entities that
    would have been established for the purpose of facilitating
    off-balance sheet arrangements or other contractually narrow or
    limited purposes.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Critical
    Accounting Policies and Estimates</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We prepare our consolidated financial statements in accordance
    with GAAP. The preparation of our consolidated financial
    statements requires our management to make estimates and
    assumptions that affect the reported amounts of assets,
    liabilities, revenues, costs and expenses and related
    disclosures. We base our estimates on historical experience,
    current circumstances and various other assumptions that our
    management believes to be reasonable under the circumstances. In
    many instances, we could reasonably use different accounting
    estimates, and in some instances changes in the accounting
    estimates are reasonably likely to occur from period to period.
    Accordingly, actual results could differ significantly from the
    estimates made by our management. To the extent that there are
    differences between our estimates and actual results, our future
    financial statement presentation, financial condition, results
    of operations and cash flows will be affected. We believe that
    the accounting policies discussed below are critical to
    understanding our historical and future performance, as these
    policies relate to the more significant areas involving
    management&#146;s judgments and estimates.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Revenue
    Recognition</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We recognize revenue when the price is fixed or determinable,
    persuasive evidence of an arrangement exists, the product is
    sold or the service is performed, and collectibility of the
    resulting receivable is reasonably assured.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We defer and recognize new card fee revenues on a straight-line
    basis over the period commensurate with our service obligation
    to our customers. We consider the service obligation period to
    be the average card lifetime. We determine the average card
    lifetime for each pool of homogeneous products (e.g., products
    that exhibit the same characteristics such as nature of service
    and terms and conditions) based on company-specific historical
    data. Currently, we determine the average card lifetime
    separately for our GPR cards and gift cards. For our GPR cards,
    we measure the card lifetime as the period of time, inclusive of
    reload activity, between the activation date of a card and the
    date of the last positive balance on that card. We analyze GPR
    cards activated between six and forty-two months prior to each
    balance sheet date. We use this historical look-back period as a
    basis for determining our average card lifetime because it
    provides sufficient time for meaningful behavioral trends to
    develop. Currently, our GPR cards have an average card lifetime
    of nine months. The usage of gift cards is limited to the
    initial funds loaded to the card. Therefore, we measure these
    gift cards&#146; lifetime as the redemption period over which
    cardholders perform the substantial majority of their
    transactions. Currently, gift cards have an average lifetime of
    six months. Average card lifetimes may vary in the future as
    cardholder behavior changes relative to historical experience as
    customers are influenced by changes in the pricing of our
    services, the availability of substitute products, and other
    factors.
</DIV>
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    50
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We also defer and expense commissions paid to retail
    distributors related to new card sales ratably over the average
    card lifetime, which is currently nine months for our GPR cards
    and six months for gift cards.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We report our different types of revenues on a gross or net
    basis based on our assessment of whether we act as a principal
    or an agent in the transaction. To the extent we act as a
    principal in the transaction, we report revenues on a gross
    basis. In concluding whether or not we act as a principal or an
    agent, we evaluate whether we have the substantial risks and
    rewards under the terms of an arrangement, whether we are the
    party responsible for fulfillment of the services purchased by
    the cardholders, and other factors. For all of our significant
    revenue arrangements, including GPR and gift cards, we recognize
    revenue on a gross basis.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Generally, customers have limited rights to a refund of the new
    card fee or a cash transfer fee. We have elected to recognize
    revenues prior to the expiration of the refund period, but
    reduce revenues by the amount of expected refunds, which we
    estimate based on actual historical refunds.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Reserve for
    Uncollectible Overdrawn Accounts</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Cardholder account overdrafts arise from fee assessments or from
    purchase transactions that we honor, in each case in excess of
    the funds in the cardholder&#146;s account. We are responsible
    to our issuing banks for any losses associated with these
    overdrafts. Overdrawn account balances are therefore deemed to
    be our receivables due from cardholders. Our card issuing banks
    fund the overdrawn accounts on our behalf, and we settle our
    obligations to them with respect to cardholder account
    overdrafts based on the terms specified in their agreements with
    us. We generally recover overdrawn account balances for some
    cardholders when a customer performs a reload transaction. In
    some cases, purchase transaction overdrafts are recovered
    through enforcement of the payment network rules, which allow us
    to recover the amounts from the merchant where the purchase
    transaction was conducted.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We are exposed to losses from unrecovered cardholder account
    overdrafts. We establish a reserve for uncollectible overdrawn
    accounts for both fees assessed and purchase transactions in
    excess of a cardholder&#146;s account balance. The reserve for
    uncollectible overdrawn accounts represents our estimate of the
    portion of these receivables that will not be recovered. We base
    our estimate of the reserve upon historical overdraft recovery
    rates and our judgment regarding the overall adequacy of the
    reserve. We believe our historical recovery rates are predictive
    of future events because these rates have remained consistent
    for several years. Our recovery rates may change in the future
    in response to factors such as the pricing of reloads and new
    cards and the availability of substitute products.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    When a cardholder account has more than 90&#160;days of
    inactivity, we consider the probability of recovery to be remote
    and we write off the full amount of the overdrawn account
    balance. We include our provision for uncollectible overdrawn
    accounts related to fees as an offset to card revenues in our
    consolidated statements of operations. We include our provision
    for uncollectible overdrawn accounts related to purchase
    transactions as other general and administrative expenses in our
    consolidated statements of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Stock-Based
    Compensation</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Effective August&#160;1, 2006, we adopted a new accounting
    standard related to stock-based compensation. We adopted the new
    standard using the prospective transition method, which required
    us to recognize compensation expense on a prospective basis for
    stock options and stock awards granted, modified, repurchased or
    cancelled on or after August&#160;1, 2006. We record
    compensation expense using the fair value method of accounting.
    For stock options, we base compensation expense on the option
    fair values estimated at the grant date using the Black-Scholes
    option-pricing model. For other stock awards, we base
    compensation expense on the per share fair value of the stock
    estimated at the grant date. We recognize compensation expense
    for awards with only service conditions that have graded vesting
    schedules on a straight-line basis over their respective vesting
    periods. Vesting is based upon continued service to our company.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    51
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Determining the fair value of stock options requires the use of
    highly subjective assumptions, including the expected term of
    the option award and our expected stock price volatility. Our
    assumptions, with respect to grants during the past twelve
    months shown by grant date in the table below, represent our
    best estimates, but these estimates involve inherent
    uncertainties and the application of judgment. If factors change
    and, as a result, we use different assumptions, our stock-based
    compensation could be materially different in the future.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="47%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="12%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Expected<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Term of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Risk-Free<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Option<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Expected<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Expected Stock<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Interest Rate</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(in Years)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Dividends</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Price Volatility</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    March&#160;19, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.9
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    56.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    June&#160;9, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    57.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    August&#160;3, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    56.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    November&#160;2, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    46.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    February&#160;4, 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table summarizes information by grant date for the
    stock options that we granted during the preceding
    12&#160;months:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="27%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="14%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="15%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="10%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="16%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Per Share<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Per Share Estimated<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Number of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Fair Value of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Weighted Average<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Shares Subject to<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Per Share Exercise<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Our Common<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Fair Value of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Options Granted</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Price of Options</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Stock</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Options</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    March&#160;19, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.84
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.84
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5.83
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    June&#160;9, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    85,800
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.65
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.65
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    August&#160;3, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    127,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.62
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    November&#160;2, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,261,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.47
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    February&#160;4, 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    130,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.98
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Additionally, in December 2009, we granted a 257,984&#160;share
    common stock award. The grant date fair value of our common
    stock at the date of this award was $20.01 per share.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    On each of the above dates, we granted our employees stock
    options at exercise prices equal to the estimated fair value of
    the underlying common stock, as determined by our board of
    directors with input from management and an independent
    valuation firm on a contemporaneous basis. Because there was no
    public market for our common stock, our board of directors
    determined the fair value of our common stock by considering a
    number of objective and subjective factors including:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the per share value of any recent preferred stock financing and
    the amount of convertible preferred stock liquidation
    preferences;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any third-party trading activity in our common stock or
    preferred stock;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the illiquid nature of our common stock, including the
    opportunity for any future liquidity events;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our current and historical operating performance and current
    financial condition;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our operating and financial projections;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our achievement of company milestones;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the stock price performance of a peer group comprised of
    selected publicly-traded companies identified as being
    comparable to us;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    economic conditions and trends in the broad market for stocks.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our board of directors considered and applied these and other
    factors in determining the fair value of our common stock on
    each stock option grant date. We have used these fair market
    valuations to estimate the fair value of our common stock on the
    date of grant and in calculating our stock-based compensation
    expense. Our valuations for each grant date in the past
    12&#160;months are described in detail below.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    52
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Stock Option Grants on March&#160;19, 2009.</I>&#160;&#160;On
    December&#160;19, 2008, we issued 1,181,816&#160;shares of
    <FONT style="white-space: nowrap">Series&#160;C-2</FONT>
    convertible preferred stock at a price of $11.00 per share and
    we redeemed 2,926,458&#160;shares of Series&#160;D convertible
    preferred stock at a price of $13.38 per share.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We completed a valuation analysis using two equity allocation
    methods&#160;&#8722; the option-pricing method, or OPM, and the
    probability-weighted expected returns method, or
    PWERM&#160;&#8722; to derive values for our preferred stock, our
    common stock and the overall enterprise.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The value of each security and the enterprise was determined in
    the OPM relative to the proposed sale price of our
    <FONT style="white-space: nowrap">Series&#160;C-2</FONT>
    convertible preferred stock. In the OPM, the value of each
    security was determined using the Black-Scholes formula,
    assuming a time to liquidity of 2.8&#160;years, an asset
    volatility of 50%, and a risk-free interest rate commensurate
    with the estimated time to liquidity of 1.2%. Because the
    Series&#160;D convertible preferred stock contained unique and
    complex redemption features that increased the difficulty and
    subjectivity in determining its value, we considered its
    redemption value to be less reliable as an input into the OPM in
    deriving an overall enterprise value.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We also utilized a PWERM that contemplated two
    scenarios&#160;&#8722; a remain-private scenario and a future
    liquidity event scenario. We derived our value under the
    remain-private scenario by discounting projected future cash
    flows to their present value as of the grant date using a 20.0%
    discount rate. This rate was determined based on an estimated
    weighted-average cost of capital derived from our estimated cost
    of equity, our after-tax cost of debt, and the
    <FONT style="white-space: nowrap">debt-to-equity</FONT>
    ratio implied by the valuation. Our cost of capital was based on
    publicly available information for companies in lines of
    business that are the same or similar to ours.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We estimated high and low future enterprise values under the
    PWERM future liquidity event scenario using high- and low-case
    financial projections and market-based valuation multiples
    derived from publicly traded peer group companies, transactions
    involving businesses that are similar to our company, and
    valuation multiples implied by the issuance of
    <FONT style="white-space: nowrap">Series&#160;C-2</FONT>
    preferred stock. We allocated the future enterprise values to
    options, warrants and various series of preferred stock based on
    their future liquidation preferences or conversion values,
    whichever would be greater, and allocated the remainder to our
    common stock. The allocated value was discounted to present
    value at the grant date. In the final analysis, we weighted the
    remain-private and future liquidity event scenarios equally as
    the likelihood of either scenario was difficult to forecast with
    reliability. We weighted the value indications determined under
    the low- and high-case cash flow projections by 75.0% and 25.0%,
    respectively. We weighted the indications of the fair value of
    our common stock under the two equity allocation
    methods&#160;&#8722; OPM and PWERM&#160;&#8722; 75.0% and 25.0%,
    respectively, because of the level of subjectivity inherent in
    the PWERM as a result of the continued turmoil in the public and
    private markets and the uncertainty at the time as to when a
    potential liquidity event could occur for our company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Based on this analysis, our board of directors determined that
    the estimated fair value of our common stock at March&#160;19,
    2009 was $10.84 per share on a minority, nonmarketable basis.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Stock Option Grants on June&#160;9, 2009.</I>&#160;&#160;For
    the June&#160;9, 2009 valuation, we determined that the
    uncertainty surrounding the timing of a liquidity event had
    increased the level of subjectivity in the PWERM to the point
    where that methodology was no longer considered appropriate.
    Therefore, we utilized only the OPM equity allocation method.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We calculated values for our securities in the OPM using the
    Black-Scholes formula, assuming a time to liquidity of
    2.6&#160;years, an asset volatility of 55.0%, and a risk-free
    interest rate commensurate with the estimated time to liquidity
    of 1.3%. We continued to estimate the enterprise value by
    discounting high- and low-case cash flow projections to present
    value as of the grant dates using a 20.0% discount rate and
    through the application of valuation multiples derived from
    publicly traded companies engaged in lines of business that were
    the same or similar to ours. Although we continued to weigh the
    low- and high-case cash flow projections by 75.0% and 25.0%,
    respectively, as of June&#160;9, 2009, the enterprise value
    increased as progress toward attaining the high cash flow
    projections was made. Additionally, the value implied by the
    public company guideline methodology increased due to
    improvement in valuation multiples from increasing stock prices
    for our peer group public companies.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    53
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Based on this analysis, our board of directors determined that
    the estimated fair value of our common stock at March&#160;19,
    2009 was $15.65 per share on a minority, nonmarketable basis.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Stock Option Grants on August&#160;3,
    2009.</I>&#160;&#160;For the August&#160;3, 2009 valuation, we
    continued to use only the OPM with the Black-Scholes formula to
    calculate the value of our securities, assuming a time to
    liquidity of 2.4&#160;years, an asset volatility of 56.0%, and a
    risk-free interest rate commensurate with the estimated time to
    liquidity of 1.2%.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Continued progress toward the high-case cash flow scenario and
    continued improvements in our peer group public company market
    factors were reflected in the underlying enterprise value,
    resulting in an increase in the estimated fair value of our
    common stock value relative to the prior grant date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Based on this analysis, our board of directors determined that
    the estimated fair value of our common stock at August&#160;3,
    2009 was $17.19 per share on a minority, nonmarketable basis.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Stock Option Grants on November&#160;2,
    2009.</I>&#160;&#160;In October 2009, certain existing and
    third-party investors entered into a tentative agreement,
    whereby the investors extended an offer to purchase
    3,250,000&#160;shares of our common stock, at a price of $20.05
    less applicable selling fees, directly from our existing
    stockholders. On November&#160;9, 2009, the offering closed and
    existing stockholders sold 3,000,000&#160;shares of our common
    stock at a price of $20.01 per share.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our board of directors considered the offering to be the most
    reliable estimate of the fair value of our common stock given
    that the transaction was an orderly purchase and sale among
    parties that had reasonable knowledge of relevant facts and that
    were not under any compulsion to buy or sell the securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Based on these facts, our board of directors determined that the
    estimated fair value of our common stock at November&#160;2,
    2009 was $20.01 per share on a minority, nonmarketable basis.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Stock Option Grants on February&#160;4,
    2010.</I>&#160;&#160;In December 2009, an existing stockholder
    transferred 400,000&#160;shares of Series&#160;C and C-1
    preferred stock for consideration of $25.00 per share to another
    existing stockholder. Our board of directors considered this
    transaction to be a reliable estimate of the fair value of our
    common stock given that the transaction was an orderly purchase
    and sale among parties that had reasonable knowledge of relevant
    facts and that were not under any compulsion to buy or sell the
    securities. Additionally, the liquidation preference of
    Series&#160;C and C-1 preferred stock sold was equal to $1.07
    per share. Relative to the purchase price of $25.00, the
    preferred stock conversion option value was deeply
    <FONT style="white-space: nowrap">in-the-money</FONT>
    and implied no premium over common stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Based on these facts, our board of directors determined that the
    estimated fair value of our common stock at February&#160;4,
    2010 was $25.00 per share on a minority, nonmarketable basis.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Recent Accounting
    Pronouncements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In June 2009, the Financial Accounting Standards Board, or FASB,
    approved the Accounting Standards Codification, or ASC, as the
    single source of authoritative accounting and reporting
    standards for all nongovernmental entities, with the exception
    of guidance issued by the SEC and its staff. The FASB ASC is
    effective for interim or annual periods ending after
    September&#160;15, 2009. All existing accounting standards have
    been superseded, and all accounting literature not included in
    the FASB ASC is considered non-authoritative. Our adoption of
    FASB ASC did not have an impact on our consolidated financial
    statements because it only amends the referencing to existing
    accounting standards.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In May 2009, the FASB issued a new standard for disclosing
    events that occur after the balance sheet date but before the
    financial statements are issued or are available to be issued.
    Additionally, the standard requires companies to disclose
    subsequent events as defined in the standard and to disclose the
    date through which we have evaluated subsequent events. The
    standard is effective for interim and annual periods ending
    after June&#160;15, 2009. Our adoption of the standard did not
    have a material impact on our consolidated financial statements.
    See note&#160;16 of our notes to consolidated financial
    statements.
</DIV>
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    <BR>
    54
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In April 2009, the FASB issued a new accounting standard that
    requires us to include fair value disclosures of financial
    instruments for each interim and annual period for which
    financial statements are prepared. Our adoption of the standard
    did not have a material impact on our consolidated financial
    statements. See note&#160;8 of our notes to consolidated
    financial statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In June 2008, the FASB issued a new accounting standard on
    determining whether instruments granted in share-based payment
    transactions are participating securities prior to vesting and
    therefore need to be included in the earnings allocation in
    calculating earnings per share under the two-class method.
    Unvested share-based payment awards that have non-forfeitable
    rights to dividend or dividend equivalents are treated as a
    separate class of securities in calculating earnings per share.
    The standard is effective for fiscal years beginning after
    December&#160;15, 2008; earlier application was not permitted.
    Our adoption of the standard did not have a material effect on
    our results of operations or earnings per share.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Quantitative and
    Qualitative Disclosures About Market Risk</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Market risk is the potential for economic losses from changes in
    market factors such as foreign currency exchange rates, credit,
    interest rates and equity prices. We believe that we have
    limited exposure to risks associated with changes in foreign
    currency exchange rates, interest rates and equity prices. We
    have no foreign operations, and we do not transact in foreign
    currencies. We do not hold or enter into derivatives or other
    financial instruments for trading or speculative purposes. We do
    not consider our cash and cash equivalents to be subject to
    interest rate risk due to their short periods of time to
    maturity.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We do have exposure to credit risk associated with the financial
    institutions that hold our cash, cash equivalents and restricted
    cash and our settlement assets due from our retail distributors
    that collect funds and fees from our customers. We manage the
    credit risk associated with our cash and cash equivalents by
    maintaining an investment policy that limits investments to
    highly liquid funds with certain highly rated financial
    institutions. Our policy also limits the investment
    concentration that we may have with a single financial
    institution. We monitor compliance with our investment policy on
    an ongoing basis, including quarterly communication with our
    audit committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We also have exposure to credit risk associated with our retail
    distributors, but that exposure is limited due to the short time
    period, currently an average of three days, that the retailer
    settlement asset is outstanding. We perform an initial credit
    review of each new retail distributor prior to signing a
    distribution agreement with it, and then monitor its financial
    performance on a periodic basis. We monitor each retail
    distributor&#146;s settlement asset exposure and its compliance
    with its specified contractual settlement terms on a daily basis.
</DIV>
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    <BR>
    55
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='111'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">BUSINESS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Overview</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Green Dot is a leading prepaid financial services company
    providing simple, low-cost and convenient money management
    solutions to a broad base of U.S.&#160;consumers. We believe
    that we are the leading provider of general purpose reloadable
    prepaid debit cards in the United States and that our Green Dot
    Network is the leading prepaid reload network in the United
    States. We sell our cards and offer our reload services
    nationwide at approximately 50,000 retail stores, which provide
    consumers convenient access to our products and services. Our
    proprietary technology platform, Green PlaNET, enables real-time
    transactions in a secure environment. The combination of our
    innovative products, broad retail distribution and proprietary
    technology creates powerful network effects, which we believe
    enhance the value we deliver to our customers, retail
    distributors and other participants in our network.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have designed our products and services to appeal primarily
    to consumers living in households that earn less than $75,000
    annually across the following four segments:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Never-banked&#160;&#150; households in which no one has ever had
    a bank account;
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Previously-banked&#160;&#150; households in which at least one
    member has previously had a bank account, but no one has one
    currently;
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Underbanked&#160;&#150; households in which at least one member
    currently has a bank account, but that also use non-bank
    financial service providers to conduct routine transactions like
    check cashing or bill payment;&#160;and
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Fully-banked&#160;&#150; households that primarily rely on
    traditional financial services.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We were an early pioneer in the development of prepaid financial
    services in the United States. In May 2001, we sold our first
    basic prepaid card with simple loading and spending
    functionality targeted at low income and never-banked consumers.
    As we have grown and our technological capabilities have
    increased, we have broadened our offerings and their
    functionality to provide consumers access to products and
    services with a more comprehensive set of features. These
    products and services now also appeal to more affluent
    underbanked and fully-banked consumers who do not feel well
    served by and cannot justify the cost and complexity of
    traditional banking products and payment cards, have limited
    access to credit, or find traditional bank policies and fee
    schedules ill-suited to their needs.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe we are the leading provider of GPR cards in the
    United&#160;States. GPR cards are designed for general spending
    purposes and can be used anywhere the cards&#146; applicable
    payment network, such as Visa or MasterCard, is accepted. Unlike
    gift cards, GPR cards are reloadable for ongoing, long-term use
    and require the completion of various identification,
    verification and other USA PATRIOT Act-compliant processes
    before a cardholder relationship can be established. As of
    October&#160;31, 2009, we had approximately 2.4&#160;million
    active cards, that is, cards that had had at least one purchase
    transaction, reload transaction or ATM withdrawal during the
    previous
    <FONT style="white-space: nowrap">90-day</FONT>
    period. In fiscal 2009, the gross dollar volume loaded on our
    cards was $4.7&#160;billion, an increase of 66% over fiscal 2008.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We distribute our products and services at the retail locations
    of large national and regional chains throughout the United
    States and through the Internet. We have built strong
    distribution and marketing relationships with many significant
    retail chains including Walmart, Walgreens, CVS, Rite Aid,
    Kroger, Radio Shack, Kmart, Meijer and 7-Eleven. We market our
    products under our Green Dot brand and through a number of
    co-branded GPR card programs that we operate for retailers and
    other business entities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe the Green Dot Network is the leading reload network
    for prepaid cards in the United States. Consumers can purchase
    our MoneyPak product at any retail location to reload cash onto
    our cards or cards issued under more than 100 third-party
    programs. Furthermore, PayPal has recently become a Green Dot
    Network acceptance member, enabling PayPal customers to use a
    MoneyPak to fund a new or existing PayPal account.
</DIV>
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    <BR>
    56
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our centralized technology platform, Green PlaNET, connects all
    network participants, which include consumers, retail
    distributors and businesses that accept reloads or payments
    through the Green Dot Network, enabling real-time transactions
    across the Green Dot Network through a single and secure point
    of integration and connectivity. This enables us to develop,
    distribute and support a variety of products and services
    effectively. Green PlaNET contains a variety of proprietary
    software applications, which run our front-end, back-end,
    anti-fraud, regulatory compliance and customer service
    processing systems.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    For the years ended July&#160;31, 2007, 2008 and 2009 and the
    three months ended October&#160;31, 2009, our total operating
    revenues were $83.6&#160;million, $168.1&#160;million,
    $234.8&#160;million and $66.3&#160;million, respectively. In the
    same periods, we generated operating income of
    $1.2&#160;million, $29.2&#160;million, $63.7&#160;million and
    $17.9&#160;million, respectively.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Industry
    Background</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><I>New technologies and product innovations have expanded the
    way financial services are sold and used.</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Over the past 40&#160;years, technological advances in
    telecommunications, software and data processing have spurred
    innovations both in the types of financial products and services
    that are available and in the ways that they are distributed in
    the marketplace and used by consumers. Innovations such as ATMs
    and the Internet have enhanced consumers&#146; access to their
    demand deposit accounts, while innovations such as credit, ATM
    and debit cards and electronic checks have permitted new methods
    of payment&#160;&#150; each providing consumers with
    alternatives to cash and traditional financial products and
    services&#160;&#150; that offer greater convenience and ease.
    These innovations contributed to an increase of approximately
    78% in the number of electronic payment transactions in the
    United States from 2000 to 2005 and, we believe, are a major
    reason that electronic payment transactions have represented the
    majority of all payment transactions annually since 2005. Over
    the past few years, a new series of innovative products and
    technologies have been increasingly adopted. Certain products,
    such as prepaid cards, prepaid electronic wallets and prepaid
    mobile payments, are enabling the distribution of fast, safe and
    low-cost alternative financial services in non-bank locations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><I>Prepaid cards represent a large and rapidly growing
    segment within the electronic payments industry.</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Prepaid cards have emerged as an attractive product within the
    electronic payments industry. They are easy for consumers to
    understand and use because they work in a manner similar to
    traditional debit cards, allowing the cardholder to use a
    conventional plastic card linked to an account established at a
    financial institution. The consumer determines the card&#146;s
    spending limit by adding money directly to the account, and can
    reload the card with additional funds as needed. The consumer
    can access the funds on the card at ATMs
    <FONT style="white-space: nowrap">and/or</FONT> the
    point of sale in retail locations using signature identification
    technologies or a personal identification number. Prepaid cards
    and related services offer consumers tremendous flexibility,
    convenience and spending control. The Mercator Advisory Group
    estimates that the total load volume in the United States for
    prepaid cards, excluding single merchant, or &#147;closed
    loop,&#148; cards, will grow at a 48.3% compound annual growth
    rate from 2008 to 2012 and exceed $291&#160;billion in 2012. We
    believe this rapid growth results from improving underlying
    technology, increasing adoption by a broader group of consumers,
    increasing convenience, declining costs and increasing product
    choices and capabilities that prepaid cards offer. Visa Inc.
    estimates that the U.S.&#160;prepaid opportunity, defined as the
    total dollars spent by the total estimated prepaid card target
    audience, was $2.03 trillion in 2009, and that 56% of this
    amount could potentially have been loaded on U.S.&#160;prepaid
    cards in 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><I>Prepaid cards and related services are currently offered
    by a wide array of specialized and partially integrated
    vendors.</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Although many large and well-established vendors provide
    elements of prepaid cards and related services, the prepaid card
    industry is fragmented. Vendors generally do not have a broad
    set of product
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    and service offerings or capabilities, and no single vendor
    currently provides all of the elements that are necessary to
    establish and operate a prepaid card program. Existing vendors
    include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Issuing Banks </I>&#150;&#160;Banks that are authorized by
    payment networks to issue cards and that provide accounts to
    hold deposits. Many issuing banks also manage settlement and
    provide risk management services. A bank&#146;s participation in
    a prepaid card program can range from actively managing and
    marketing the card program to providing passive sponsorship into
    payment networks.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Payment Networks </I>&#150;&#160;companies, such as Visa and
    MasterCard, that facilitate
    <FONT style="white-space: nowrap">point-of-sale</FONT>
    card acceptance, provide purchase and withdrawal transaction
    routing and processing between merchant acquirers and card
    issuing banks, perform certain clearing and settlement functions
    and provide marketing and support services to card issuing
    banks. Payment networks also establish network rules and
    establish processing and security standards and customer
    protections to which all participating members must adhere.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Processors </I>&#150;&#160;technology vendors that provide
    connectivity to payment networks, maintain account balances, and
    authorize purchase and withdrawal transactions. Many processors
    provide additional services, including card activation and
    customer service, and develop
    <FONT style="white-space: nowrap">and/or</FONT>
    integrate value-added cardholder applications such as online
    bill payment, microlending and mobile payment services.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Program Managers </I>&#150;&#160;specialized vendors that
    design, manage, market and operate prepaid card programs.
    Prepaid card program managers may provide a range of services or
    delegate that provision to other specialized vendors, such as
    issuing banks, processors and distributors, and collaborate with
    them as these programs are implemented. Prepaid card program
    managers may also negotiate the allocation of fees and risk
    management with all vendors involved in a particular prepaid
    card program.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Distributors </I>&#150;&#160;organizations, such as
    retailers, remittance vendors, tax preparers, check cashers,
    payday lenders, card resellers and employers, that distribute
    cards through various sales channels and may also manage
    inventory fulfillment and provide
    <FONT style="white-space: nowrap">point-of-sale</FONT>
    integration and technology.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Reload Networks </I>&#150;&#160;vendors that provide products
    and services, connectivity, technology and integration, which
    enable
    <FONT style="white-space: nowrap">point-of-sale</FONT>
    locations to accept cash payments and associate those payments
    with a specific account. These vendors also provide transaction
    routing and processing between the point of sale and the
    destination of the fund transfer. A small number of reload
    networks have proprietary brands, acceptance locations and
    technology, while most take advantage of the brands, technology
    and
    <FONT style="white-space: nowrap">point-of-sale</FONT>
    relationships of other third-party vendors.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><I>Prepaid financial services is a large and rapidly growing
    segment within the prepaid card industry.</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Prepaid financial services, which includes GPR cards and
    associated reload services, is currently among the largest and
    fastest-growing segments within the prepaid card industry. The
    GPR card category has benefited from the expanding breadth of
    applications for GPR cards and the ease with which they can be
    acquired. According to Mercator Advisory Group&#146;s
    &#147;Prepaid Market Forecast 2009 to 2012&#148; research
    report, $8.7&#160;billion was loaded onto GPR cards in the
    United States in 2008 and $118.5&#160;billion was loaded onto
    GPR cards in the United States in 2012, reflecting a 92%
    compound annual growth rate during that four-year period. We
    believe increasing growth in the use of GPR cards will
    contribute to a substantial increase in the demand for related
    services, including reload services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><I>Prepaid financial services are evolving as providers
    develop new ways of offering financial services.</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The products offered by prepaid financial service providers are
    relatively early in their lifecycles. We believe that the
    flexibility, accessibility and low cost of prepaid financial
    services will lead to many new, attractive payment applications
    outside of traditional banking channels. By virtue of their
    broad acceptance and the flexibility they provide, GPR cards
    offer safe, reliable, low-cost financial services
</DIV>
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    <BR>
    58
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    to a broad spectrum of U.S.&#160;consumers who do not feel well
    served by and cannot justify the cost of traditional banking
    products.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Our Competitive
    Strengths</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our combination of innovative products and marketing expertise,
    a known brand name, a nationwide retail distribution presence
    and a proprietary technology platform supports our network-based
    business model and has enabled us to become a leading provider
    of prepaid financial services in the United States. Our
    strengths include:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Innovative
    Product and Marketing Expertise</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We are an innovator in the development, merchandising and
    marketing of prepaid financial services. Our consumer focus has
    helped us to develop solutions for people who, prior to the
    existence of our products, either had to settle for an
    ill-suited banking relationship or, more often, simply opted out
    of the financial mainstream and resorted to using check cashers,
    payday lenders and cash. We believe we were the first company to
    combine the products, technology platform and distribution
    channel required to make retailer-distributed GPR cards a viable
    product offering. We subsequently built our reload network, and
    have recently expanded it to facilitate cash loading of online
    accounts like PayPal. We also successfully incorporated
    traditional bank account style &#147;online bill pay&#148; on
    our GPR cards and launched a large-scale &#147;instant
    issue&#148; program, whereby the Visa or MasterCard-branded GPR
    card is enclosed in the package on the in-store display. Our
    consumer focus has also led us to enhance the packaging and
    product displays in retail locations to educate consumers and
    promote our products and services more efficiently. In addition,
    we believe we have the strongest brand in the prepaid financial
    services industry, and we continue to build brand awareness
    using national television advertising.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Leading Retail
    Distribution</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have established a nationwide retail distribution network,
    consisting of approximately 50,000 retail store locations, which
    gives us access to the vast majority of the
    U.S.&#160;population. According to Scarborough Research, during
    the twelve months ended October&#160;31, 2009, at least 93% of
    U.S.&#160;households shopped at one or more of the stores of our
    current retail distributors. We have built distribution
    relationships with Walmart, CVS and Kroger, three of the five
    largest retailers in the United States, and major chains like
    Walgreens, Rite Aid, Radio Shack, Kmart, Meijer and 7-Eleven. In
    general, our contracts with retail distributors provide us with
    exclusivity relating one or more of the following: reloading GPR
    cards, selling GPR cards in their stores and providing specific
    co-branded card programs.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Establishing distribution relationships requires significant
    investments, complex integrations and large support
    infrastructures from providers and distributors. As a result, we
    believe our broad and established retail distribution network
    serves as one of our key competitive advantages and a
    significant barrier to entry for potential competitors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Leading Reload
    Network in the United States</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe the Green Dot Network is the leading reload network
    for prepaid cards in the United States. By purchasing our
    MoneyPak reload products at any of our distributors&#146; retail
    locations, consumers can access the Green Dot Network and use it
    for a wide variety of transactions, including cash loading onto
    prepaid cards and PayPal accounts. Although a substantial
    majority of the transactions on our reload network are
    associated with our cards, the transaction volume from
    third-party card portfolios has grown significantly as over 100
    third-party prepaid programs now use the Green Dot Network for
    card reloading services. Recent innovations, like our
    relationship with PayPal, have also expanded our transaction
    volume and consumers&#146; familiarity with the Green Dot brand.
    While our reload network today is used primarily for cash
    loading of prepaid cards and cash loading of PayPal accounts, we
    believe that it can be expanded and adapted to many new and
    evolving applications in the electronic payments industry.
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Proprietary
    Technology Platform</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Green PlaNET, our centralized technology platform, enables our
    network participants to engage in real-time transactions across
    the Green Dot Network and enables the effective development,
    distribution and support of a variety of products and services.
    Green PlaNET contains a variety of proprietary software
    applications that run our front-end, back-end, anti-fraud,
    regulatory compliance and customer service processing systems.
    Green PlaNET gives us the ability to centrally develop and
    distribute product applications, manage customer accounts,
    authorize, process and settle transactions, enable security and
    regulatory compliance, and provide customer services through the
    Internet, IVR, call centers, mobile applications and email. In
    addition, Green PlaNET enables network participants to easily
    communicate and complete transactions, such as card purchases,
    reloads and bill payments, across our network using a variety of
    services and
    <FONT style="white-space: nowrap">point-of-sale</FONT>
    technologies, and is a central component of our network-based
    business model.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Business Model
    with Powerful Network Effects</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The combination of our broad group of products and services,
    large portfolio of active cards, nationwide footprint of retail
    distributors and proprietary technology platform creates
    powerful network effects. Growth in the number of products and
    services that we offer or in the number of network participants
    enhances the value we deliver to all network participants. For
    example, we are able to attract retail distributors because of
    the large number of consumers who actively use our reload
    network. This network effect helps us continue to grow our
    cardholder base and expand our business. We believe the breadth
    and depth of our network would be difficult to replicate and
    represents a significant competitive advantage, as well as a
    barrier to entry for potential competitors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Vertical
    Integration</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe that we are more vertically integrated than our
    competitors, based on our distribution capabilities, processing
    platform, program management skills and proprietary reload
    network. This integration has allowed us to reduce costs across
    our operations, and we expect it will continue to provide us
    with opportunities to reduce operational costs in the future. It
    also enables us to scale our business quickly in response to
    rising demand and to ensure high-quality service for our
    customers.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Strong
    Regulatory and Compliance Infrastructure</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We employ a proactive approach to licensing, regulatory and
    compliance matters, which we believe provides us with an
    important competitive advantage. We maintain an ongoing dialogue
    with the various governmental authorities that oversee the
    prepaid financial services industry. We believe that our
    pro-consumer orientation and regulatory focus have enabled us to
    develop strong relationships with leading retailers and
    financial institutions and have also prepared us well for
    changes in the regulatory environment.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Our Strategy for
    Growth</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The key components of our strategy include:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Increasing the
    Number of Network Participants</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We intend to enhance the network effects in our business model
    by:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Attracting new users by introducing new products, improving
    current products to address consumers&#146; current and evolving
    needs, and building demand for our offerings through promotions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Expanding and strengthening our distribution by establishing
    relationships with additional high-quality retail chains,
    increasing online distribution of our products and accelerating
    our entry into new distribution channels, including
    collaborating with third-party service providers, such as
    electronic tax preparation providers;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Adding network acceptance members to and applications for the
    Green Dot Network by continuing to enroll additional third-party
    prepaid card program providers that want to offer their
</TD>
</TR>
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    <BR>
    60
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    cardholders access to our reload network and to identify
    additional uses for our reload network&#146;s cash transfer
    technology.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Increasing
    Revenue per Customer</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We intend to pursue greater revenue per customer by improving
    cardholder retention, increasing card usage and cross-selling
    complementary products and services. Our historical card usage
    patterns suggest that consumers who reload additional funds onto
    their cards within three months of activation tend to have
    significantly higher levels of transaction activity and generate
    more cash transfer and interchange revenues for us than those
    who do not. Therefore, we intend to target improved cardholder
    retention by offering incentives, such as fee waivers for
    specified reload amounts or activities, to encourage cardholders
    to reload additional funds onto their cards and extend their
    relationships with us. We also intend to add new services, such
    as additional reload options and new mobile applications that
    enable convenient use of our products and services, to make our
    products more valuable to consumers.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Improving
    Operating Efficiencies</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We intend to leverage our growing scale and vertical integration
    to generate incremental operating efficiencies. As we continue
    to expand our business operations, we plan to reduce our
    marginal operating costs by continuing to implement rigorous
    cost-containment programs, purchase vendor services from
    low-cost providers and reduce the use of outsourced services
    that can be provided internally at lower cost. For example, we
    intend to improve our self-service offerings so that customers
    can obtain automated customer service through our website, IVR
    or mobile applications. Additionally, some of our current vendor
    agreements include pricing structures that call for reduced
    pricing as our customer usage volumes grow. These cost savings
    will provide us with the flexibility to engage in new marketing
    programs, reduce pricing and make other investments in our
    business to maintain our leadership position.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Broadening
    Brand and Product Awareness</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We intend to broaden awareness of the Green Dot brand, which we
    believe is the leading national brand in prepaid financial
    services, and of our products and services through national
    television advertising, online advertising and ongoing
    enhancements to our packaging and merchandising. We plan to
    reinforce and strengthen perceptions of the key attributes of
    the Green Dot brand, which we believe are trust, security,
    convenience and simplicity. We also will continue to educate
    consumers, retail distributors and network acceptance members on
    the functionality, convenience and cost advantages of our
    products and services.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Acquiring
    Complementary Businesses</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We intend to pursue acquisitions that will help us achieve our
    strategic objectives. We intend to acquire companies that have
    the potential to enhance the distribution of our products and
    services through either existing or new channels. We also intend
    to pursue acquisitions that have the potential to augment the
    features and functionality of our existing products and services
    or to provide complementary products and services that can be
    sold through our existing distribution channels. There are many
    prepaid financial services providers and the market remains
    fragmented, which we believe will provide us with acquisition
    opportunities over time.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Our Bank
    Acquisition Strategy</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In February 2010, we entered into a definitive agreement to
    acquire a bank holding company and its subsidiary commercial
    bank, and filed applications with the appropriate federal and
    state regulators seeking approvals for this transaction. This
    acquisition is subject to standard closing conditions, including
    regulatory approval. Upon consummation of the acquisition, we
    will become a bank holding company regulated by the Federal
    Reserve Board. While there can be no assurance that we will
    obtain these approvals or our bank acquisition will close, we
    currently expect to complete this acquisition in the second or
    third quarter of calendar 2010.
</DIV>
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    <BR>
    61
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe that acquiring a bank charter will enable us to
    (i)&#160;offer consumers FDIC-insured transactional accounts,
    (ii)&#160;issue prepaid card and debit card products linked to
    those transactional accounts, (iii)&#160;offer other types of
    deposit products, such as savings accounts, and
    (iv)&#160;provide settlement services for our reload network.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe that this acquisition will provide the following
    strategic benefits:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    increase our efficiency in introducing and managing potential
    new products and services, which are more difficult to
    accomplish with multiple unaffiliated card issuing banks;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduce the risk that we would be negatively impacted by one of
    the banks that issue our cards changing its business practices
    as a result of, among other things, a change of strategic
    direction, financial hardship or regulatory developments;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reduce the sponsorship and service fees and other expenses that
    we incur each year to the third-party banks that issue our
    cards, and correspondingly increase funds available to us to
    spend on other aspects of our business, including the ability to
    invest in further reducing consumer pricing;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    further increase the degree to which our operations are
    integrated and provide increased control over our operations.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Our Business
    Model</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our business model focuses on four major elements: our
    consumers; our distribution; our products and services; and our
    proprietary technology, which provides functionality for and
    connectivity to the Green Dot Network and is the platform that
    brings the other three elements together.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Our
    Consumers</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have designed our products and services to appeal primarily
    to consumers living in households that earn less than $75,000
    annually across the following four segments:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Never-banked&#160;&#150; households in which no one has ever had
    a bank account;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Previously-banked&#160;&#150; households in which at least one
    member has previously had a bank account, but no one has one
    currently;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Underbanked&#160;&#150; households in which at least one member
    currently has a bank account, but that also use non-bank
    financial service providers to conduct routine transactions like
    check cashing or bill payment;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Fully-banked&#160;&#150; households that primarily rely on
    traditional financial services.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Based on data from the FDIC, the Federal Reserve Bank, the
    U.S.&#160;Census and the Center for Financial Services
    Innovation and our proprietary data, we believe these four
    segments collectively represent an addressable market of
    approximately 160&#160;million people in the United States. We
    believe that we currently have a significant number of customers
    in each of these segments.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Customers in different segments tend to purchase and use our
    products for different reasons and in different ways. For
    example, we believe never-banked consumers use our products as a
    safe controlled way to spend cash and as a means to access
    channels of trade, such as online purchases, where cash cannot
    be used. We believe previously-banked consumers use our products
    as a convenient and affordable substitute for a traditional
    checking account by depositing payroll checks (via direct or
    in-store deposit) into a Green Dot GPR card account and use our
    products to pay bills, shop online, monitor spending and
    withdraw cash from ATM machines.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe underbanked consumers use our products in ways
    similar to those of the never- and previously-banked segments,
    but additionally view our products as a credit card substitute.
    For example, underbanked consumers use our products to make
    purchases at physical and online merchants, book travel
    arrangements and guarantee reservations. We believe fully-banked
    consumers use our products as companion products to their bank
    checking account, segregating funds into separate accounts for a
    variety of uses. For example, fully-banked consumers often use
    our cards to
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    shop on the Internet without providing their bank debit card
    account information online. These consumers also use our
    products to control spending, designate funds for specific uses,
    prevent overdrafts in their checking accounts, or load funds
    into specific accounts, such as a PayPal account.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Our
    Distribution</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We achieve broad distribution of our products and services
    through our retail distributors, the Internet and relationships
    with other businesses, such as Intuit. In addition our network
    acceptance members encourage their customers to use our prepaid
    financial services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Retail Distributors.</I>&#160;&#160;Our prepaid financial
    services are sold in approximately 50,000 retail stores,
    including those of major national mass merchandisers, national
    and regional drug store and convenience store chains, and
    national and regional supermarket chains. Our retail
    distributors include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Type of Distributor</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Representative Distributors</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Mass merchandise retailers
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Walmart, Kmart, Meijer
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Drug store retailers
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Walgreens, CVS, Rite-Aid, Duane Reade
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Convenience store retailers
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    The Pantry (Kangaroo Express), 7-Eleven
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Supermarket retailers
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Kroger
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    RadioShack
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Most of these retailers have been our distributors for several
    years and all have contracts with us, subject to termination
    rights, that expire at various dates from 2011 to 2013. In
    general, our agreements with our retail distributors give us the
    right to provide Green Dot-branded
    <FONT style="white-space: nowrap">and/or</FONT>
    co-branded GPR cards and reload services in their retail
    locations and require us to share with them by way of
    commissions the revenues generated by sales of these cards and
    reload services. We and the retail distributor generally also
    agree to certain marketing arrangements, such as promotions and
    advertising. Our operating revenues derived from products and
    services sold at the store locations of our four largest retail
    distributors (Walmart, Walgreen, CVS and Rite Aid) represented
    the following percentages of our total operating revenues:
    approximately 3%, 22%, 19% and 17%, respectively, for the year
    ended July&#160;31, 2007, 39%, 17%, 13% and 11%, respectively,
    for the year ended July&#160;31, 2008, 56%, 11%, 9% and 7%,
    respectively, for the year ended July&#160;31, 2009, and 64%,
    9%, 8% and 6%, respectively, for the three months ended
    October&#160;31, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Our Relationship with Walmart.</I>&#160;&#160;Walmart is our
    largest retail distributor. We have been the exclusive provider
    of GPR cards sold at Walmart since Walmart initiated its Walmart
    MoneyCard program in 2007. In October 2006, we entered into
    agreements with Walmart and GE Money Bank (the issuing bank),
    which set forth the terms and conditions of our relationship
    with Walmart. Pursuant to the terms of these agreements, Green
    Dot designs and delivers the Walmart MoneyCard product and
    provides all ongoing program support, including network IT,
    regulatory and legal compliance, website functionality, customer
    service and loss management. Walmart displays and sells the card
    and GE Money Bank serves as the issuer of the cards and holds
    the associated FDIC-insured deposits. All Walmart MoneyCard
    products are reloadable exclusively on the Green Dot Network.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In November 2008, the original term of agreement among Green
    Dot, Walmart and GE Money Bank was extended through November
    2013. If the agreement is not terminated, it will extend
    indefinitely until a party provides 180 days&#146; advance
    written notice of its intent to terminate the agreement. Walmart
    has the right to terminate this agreement prior to its
    expiration or renewal for a number of specified reasons, such as
    our failure to meet specified service levels. In addition,
    starting in November 2011, Walmart may terminate the agreement
    at any time with 180&#160;days&#146; advance written notice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Network Acceptance Members.</I>&#160;&#160;A large number of
    institutions accept funds through our reload network, using our
    MoneyPak product. We provide reload services to over 100
    third-party card programs, including programs offered by
    H&#038;R Block, AccountNow and Jackson Hewitt. MasterCard&#146;s
    RePower Reload Network also uses the Green Dot Network to
    facilitate cash reloads for its own member programs.
    Furthermore, in February 2009, we entered into a five-year
    agreement with PayPal that enables PayPal customers to use a
    MoneyPak to fund a new or existing PayPal account. As a
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    result of this agreement, consumers without a bank account or
    credit card are able to fund&#160;PayPal accounts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Other Channels.</I>&#160;&#160;An increasing portion of our
    card sales is generated from our online distribution channel and
    other non-retail channels. We offer Green Dot-branded cards
    through our website, www.greendot.com. We promote this
    distribution channel through television and online advertising.
    Customers who activate their cards through this channel
    typically receive an unfunded card in the mail and then can
    reload the card either through a cash reload or a payroll direct
    deposit transaction. In October&#160;2009, we entered into a
    joint marketing and referral agreement with Intuit. Under this
    agreement, Intuit customers can elect to receive their tax
    refunds via a co-branded card that we manage.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Our Products
    and Services</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our principal products and services consist of Green Dot-branded
    and co-branded GPR cards and MoneyPak and POS swipe reload
    transactions facilitated by the Green Dot Network. We also
    service general purpose gift cards, which have historically
    represented only a small percentage of our operating revenues.
    The GPR cards we offer are issued primarily by Columbus Bank and
    Trust&#160;Company and, in the case of certain of our co-branded
    cards discussed below, GE Money Bank. Card balances are
    FDIC-insured and have either Visa or MasterCard zero liability
    card protection.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <I><FONT style="font-family: Arial, Helvetica">Card
    Products</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Green Dot-Branded GPR Cards.</I>&#160;&#160;Our Green
    Dot-branded GPR cards provide consumers with an affordable and
    convenient way to manage their money and make payments without
    undergoing a credit check or possessing a pre-existing bank
    account. In addition to standard prepaid Visa or
    MasterCard-branded GPR cards, we also offer GPR cards marketed
    for a specific use or market, such as our Online Shopping card,
    our Prepaid Student card and our Prepaid NASCAR card.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We offer these GPR cards to consumers in approximately 50,000
    retail locations in 49&#160;states, including those of
    Walgreens, CVS, Rite Aid, Kroger and 7-Eleven. We also offer our
    GPR cards online through our web site, www.greendot.com. To
    purchase a GPR card, consumers typically select the GPR card
    from an in-store display and pay the cashier a one-time purchase
    fee plus the initial amount they would like to reload onto their
    card. Consumers then go online or call a toll-free number to
    register their personal information with us so that we can
    activate their temporary prepaid card and mail them a
    personalized GPR card. As explained below, consumers can then
    reload their personalized GPR cards using a MoneyPak or, at
    enabled retailers, via a
    <FONT style="white-space: nowrap">point-of-sale</FONT>
    process, which we refer to as a POS swipe reload transaction.
    Funds can also be loaded on the card via direct deposit of a
    customer&#146;s government or payroll check.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our GPR cards are issued as Visa- or MasterCard-branded cards
    and are accepted worldwide by merchants and other businesses
    belonging to the applicable payment network, including for bill
    payments, online shopping, everyday store purchases and ATM
    withdrawals. As of December&#160;31, 2009, Visa and MasterCard
    each were accepted at approximately 29&#160;million acceptance
    locations worldwide, respectively. As of December&#160;31, 2009,
    our cardholders could complete ATM transactions at approximately
    1.4&#160;million Visa PLUS or 900,000 MasterCard Cirrus ATMs
    worldwide, including over 17,000 MoneyPass surcharge-free ATMs
    in all 50&#160;states and Puerto Rico.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We offer a simple fee structure that includes a new card fee (if
    the card is purchased from one of our retail distributors), a
    monthly maintenance fee (which may be waived based on usage), a
    cash reload fee and an ATM withdrawal fee for non-MoneyPass
    ATMs. Most of the features and functions of our cards are
    provided without surcharges. Our free services include account
    management and balance inquiry services via Internet, telephone
    and mobile applications. In addition, via an online tool, we
    allow cardholders to manage household and other bills and to
    make payments to companies or individuals.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    For regulatory compliance, risk management, operational and
    other reasons, our GPR cards and reload products have certain
    limitations and restrictions, including but not limited to
    maximum dollar reload amounts, number of reloads in a given time
    period (e.g. per day), and limitations of uses of our temporary
    cards versus permanent cards.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Co-Branded GPR Cards.</I>&#160;&#160;We provide co-branded
    GPR cards on behalf of certain retail distributors and other
    business entities. Co-branded cards generally bear the
    trademarks or logos of the retail distributor or business
    entity, and our trademark on the packaging and back of the card.
    These cards have the same features and characteristics as our
    Green Dot-branded GPR cards, and are accepted at the same
    locations. We typically are responsible for managing all aspects
    of these programs, including strategy, product design,
    marketing, customer service and operations/compliance.
    Representative co-branded cards include the Walmart MoneyCard,
    the TurboTax Refund Card, the Kmart Prepaid Visa and MasterCard
    cards and the Meijer Prepaid MasterCard.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <I><FONT style="font-family: Arial, Helvetica">Reload
    Services</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We generate cash transfer revenues when consumers purchase our
    reload services. We offer consumers affordable and convenient
    ways to reload any of our GPR cards and to conduct other cash
    loading transactions through our reload network, using our
    MoneyPak product or through retailers&#146; specially enabled
    POS devices. MoneyPak is offered in all of the retail locations
    where our GPR cards are sold. MoneyPak is a cash reload product
    that we market on a display like our Green Dot-branded GPR
    cards. Cash reloads using a MoneyPak involve a two-step process:
    consumers pay the cashier the desired amount to be reloaded,
    plus a service fee, and then go online or call a toll-free
    number to submit the MoneyPak number and add the funds to a GPR
    card or other account, such as a PayPal account. Alternatively,
    at many retail locations, consumers can add funds directly to
    their Green Dot-branded and co-branded cards at the point of
    sale through a POS swipe reload transaction. Unlike a MoneyPak,
    these POS swipe reload transactions involve a single-step
    process: consumers pay the cashier the desired amount to be
    reloaded, plus a service fee, and funds are reloaded onto the
    GPR card at the point of sale without further action required on
    the part of the consumer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><I>Our Proprietary Technology Platform&#160;&#151; Green
    PlaNET</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Green PlaNET is our proprietary technology platform that enables
    our network participants to communicate with us in a real-time,
    secure environment. Green PlaNET is a centralized, client-server
    based processing system that gives us the ability to centrally
    develop and distribute product applications, manage customer
    accounts, authorize, process and settle transactions, ensure
    security and regulatory compliance, and provide customer
    services across a variety of points of contact and technologies.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Green PlaNET enables Green Dot cardholders to activate and use
    their card accounts for a variety of transactions, such as cash
    loads and online bill payments. Green PlaNET also provides a
    single and secure point of integration for all our network
    participants, enabling them to communicate with us and our
    customers and facilitating the initiation, authorization and
    settlement of transactions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Green PlaNET has the following components:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The Green PlaNET front-end processing system communicates with
    the host systems of retail distributors and network acceptance
    members through a proprietary application programming interface,
    or API, and runs a variety of software applications that
    facilitate the purchase of a card at a retail location as well
    as the loading of cash onto a card or MoneyPak. It engages in
    real-time transaction verification so that cards do not exceed
    applicable limits, thus ensuring compliance with our anti-money
    laundering program.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The Green PlaNET back-end processing system runs a variety of
    software applications that enable the activation, daily use and
    maintenance of our cardholder accounts. It executes a variety of
    transaction-enabling processes and initiates several customer
    verification modules, such as internally developed anti-money
    laundering, &#147;Know Your Customer&#148; and Office of Foreign
    Assets Control requirements, and external data requests from
    outsourced vendors, such as Experian and LexisNexis, that
    together ensure compliance with all federal requirements for the
    opening of a new account. It interfaces with our database to
    generate account statements and initiate account notification
    communications, such as emails and text messages. It also
    interacts with the systems of other processors and executes
    back-end batch processes, such as transaction fee calculations,
    charge-back transactions, retailer invoicing and account
</TD>
</TR>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    write-offs, that facilitate the daily accounting, reconciliation
    and settlement of transactions and account activity. In
    addition, the Green PlaNET back-end processing system houses a
    variety of security applications that provide customer and card
    data encryption, fraud monitoring, information security
    administration and firewalls that protect the Green PlaNET
    infrastructure.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The Green PlaNET customer-facing systems include a service
    processing system and various communication systems. The Green
    PlaNET service processing system includes several customer
    relationship management software applications that operate a
    variety of support services, providing real-time account history
    access and pending transaction data, contact information,
    personal identification number request and issuance services and
    balance inquiry applications. It also enables consumers to
    direct cash transfers using our MoneyPak product. In addition,
    Green PlaNET provides our consumers, retail distributors and
    network acceptance members with the ability to communicate with
    us and access accounts using a variety of technologies. These
    technologies integrate with our customer care applications and
    allow us, among other things, to address customer inquiries and
    automatically prompt customer support agents to sell upgrades
    and make cross-sales. We have also integrated Green PlaNET with
    our website, www.greentdot.com, to provide a full range of
    interactive services, including online card sales, full
    activation and personalization services, electronic funds
    transfers, and access to account histories and management
    services.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Sales and
    Marketing</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The primary objective of our sales and marketing efforts is to
    educate consumers on the utility of our products and related
    services in order to generate demand, and to instruct consumers
    on where they may purchase our products and services. We
    accomplish this objective through various types of
    consumer-oriented marketing and advertising and by expanding our
    group of retail distributors to gain access to additional
    customers.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Marketing to
    Consumers</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe that our marketing efforts to consumers are
    fundamental to the success of our business. We market our
    products to a broad group of consumers, ranging from
    never-banked to fully-banked consumers. We are focusing our
    current sales and marketing efforts on customer acquisition,
    enhancing our brand and image, building market awareness of our
    products, improving cardholder retention and increasing card
    usage. To achieve these objectives, we highlight to consumers
    the core benefits of our products, which we believe are
    affordability, access to funds, utility, convenience,
    transparency and security.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our marketing campaigns involve creating a compelling in-store
    presence and conducting television advertising, retailer
    promotions such as newspaper inserts and circulars, online
    advertisements, and co-op advertising with select retail
    distributors. We focus on raising brand awareness while
    educating our customers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We also design, and provide to our retail distributors for use
    in their stores, innovative packaging and in-store displays that
    we believe generate consumer interest and differentiate our
    products from other card products on their racks. Our packaging
    and displays help ensure that our products are promoted in a
    consistent, visual manner that is designed to invite consumers
    to browse and learn about our products, and thus to increase our
    sales opportunities. This packaging is designed to establish a
    connection with consumers, which we believe increases the
    likelihood that they will buy our products.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We employ a number of strategies to improve cardholder retention
    and increase card usage. These strategies are based on research
    we conduct on an ongoing basis to understand consumer behavior
    and improve consumer loyalty and satisfaction. For example, we
    use our points of contact with customers (e.g., our website,
    email, IVR and mobile applications) to educate our customers and
    promote new card features. We also provide incentives for
    behaviors, such as cash reloading, establishing payroll direct
    deposit and making frequent purchases with our cards, that we
    believe increase cardholder retention.
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Marketing to
    Retail Distributors</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
     When marketing to potential new retail distributors, we
    highlight the key benefits of our products, including our
    national brand, our in-store presence and merchandising
    expertise, our cash reload network, the profitability to them of
    our products and our commitment to national television and other
    advertising. In addition, we communicate the peripheral benefits
    of our products, such as their ability to generate additional
    foot traffic and sales in their stores.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Marketing to
    Our Network Acceptance Members</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We market our reload network to a broad range of banks,
    third-party processors, program managers and others that have
    uses for our reload network&#146;s cash transfer technology.
    When marketing to potential network acceptance members, we
    highlight the key benefits of our cash loading network,
    including the breadth of our retail distributors and
    distribution capabilities, our leadership position in the
    industry, the profitability to them of our products, consumer
    satisfaction and our commitment to national television and other
    advertising and marketing support.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Customer
    Service</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We provide customer service for all GPR card and gift card
    programs that we manage and for MoneyPak on a
    <FONT style="white-space: nowrap">24-hour</FONT> per
    day, <FONT style="white-space: nowrap">365-day</FONT>
    per year basis, primarily through third-party service providers
    in Guatemala and the Philippines, and also through our staff in
    the United States. All card activations, reloads, support and
    lost/stolen inquiries are handled online and through various
    toll-free numbers at these locations. We also operate our own
    call center at our headquarters for handling customer and
    corporate escalations. Customer service is provided in both
    English and Spanish.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Competition</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We operate in highly competitive and still developing markets,
    which we expect to become increasingly competitive in the
    future. In addition to the direct competitors described below,
    we compete for access to retail distribution channels and for
    the attention of consumers at the retail level.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Prepaid Card
    Issuance and Program Management</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We compete against the full spectrum of providers of GPR cards.
    We compete with traditional providers of financial services,
    such as banks that offer demand deposit accounts and card
    issuers that offer credit cards, private label retail cards and
    gift cards. Many of these institutions are substantially larger
    and have greater resources, larger and more diversified customer
    bases and greater brand recognition than we do. Many of these
    companies can also leverage their extensive customer bases and
    adopt aggressive pricing policies to gain market share. Our
    primary competitors in the prepaid card issuance and program
    management market are traditional credit, debit and prepaid card
    account issuers and prepaid card program managers like First
    Data, Netspend, AccountNow, PreCash, Rush Card, Western Union
    and MoneyGram. Our Green-Dot branded cards also compete with our
    co-branded GPR cards, such as the Walmart MoneyCard.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe that the principal competitive factors for the
    prepaid card issuance and program management market include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

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    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
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    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    breadth of distribution;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    brand recognition;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the ability to reload funds;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    compliance and regulatory capabilities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    enterprise-class and scalable IT;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    &#149;&#160;customer support capabilities;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    pricing.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe our products compete favorably on each of these
    factors.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    67
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Reload
    Networks</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    While we believe our Green Dot Network is the leading reload
    network in the United States, a growing number of companies are
    attempting to establish and grow their own reload networks. In
    this market, new companies, or alliances among existing
    companies, may be formed that rapidly achieve a significant
    market position. Many of these companies are substantially
    larger than we are and have greater resources, larger and more
    diversified customer bases and greater name recognition than we
    do. Our primary competitors in the reload services market are:
    Visa, MasterCard, Western Union, MoneyGram, Blackhawk and
    Netspend. Visa and MasterCard each have broad brand recognition
    and a large base of merchant acquiring and issuing banks.
    Western Union, MoneyGram, Blackhawk and Netspend each have a
    national network of retail
    <FONT style="white-space: nowrap">and/or</FONT> agent
    locations. In addition, we compete for consumers and billers
    with financial institutions that provide their retail customers
    with billing, payment and funds transfer services. Many of these
    institutions are substantially larger and have greater
    resources, larger and more diversified customer bases and
    greater brand recognition than we do.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe that the principal competitive factors for reload
    network services include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the number and quality of retail locations;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    brand recognition;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    product and service functionality;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    number of cardholders and customers using the service;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reliability of the service;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    retail price;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    enterprise class and scalable IT;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    ability to integrate quickly with multiple payment platforms and
    distributors;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    &#149;&#160;customer support capabilities;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    compliance and regulatory capabilities.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe the Green Dot Network competes favorably on each of
    these factors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Prepaid Card
    Distribution</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We compete against the full spectrum of prepaid card
    distributors and third-party processors that sell competing
    prepaid card programs through retail and online channels. Many
    of these institutions are substantially larger and have greater
    resources, larger and more diversified customer bases and
    greater brand recognition than we do. Many of these companies
    can also leverage their extensive customer bases and adopt
    aggressive pricing policies to gain market share. As new payment
    methods are developed, we also expect to experience competition
    from new entrants. Our primary competitors in the market for
    prepaid cards are: InComm, Blackhawk, First Data, Netspend and
    AccountNow. In addition, we face potential competition from
    Western Union, MoneyGram and a number of retail banks if they
    enter these markets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe that the principal competitive factors for the
    prepaid card distribution market include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    brand recognition with consumers and retailers;
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the ability to reload funds;
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    ability to develop and maintain strong relationship with retail
    distributors;
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    compliance and regulatory capabilities;
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    pricing;&#160;and
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    large customer base.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe our products compete favorably on each of these
    factors.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    68
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Intellectual
    Property</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We rely on a combination of trademark and copyright laws and
    trade secret protection in the United States, as well as
    confidentiality procedures and contractual provisions, to
    protect the intellectual property rights related to our products
    and services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We own several trademarks, including Green Dot, MoneyPak and the
    Green Dot logo. These assets are essential to our business.
    Through agreements with our network acceptance members, retail
    distributors and customers, we authorize and monitor the use of
    our trademarks in connection with their activities with us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have one patent application under consideration in the United
    States related to the retail packaging of our cards.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Regulation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Compliance with legal and regulatory requirements is a highly
    complex and integral part of our
    <FONT style="white-space: nowrap">day-to-day</FONT>
    operations. Our products and services are generally subject to
    federal, state and local laws and regulations, including:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    anti-money laundering laws;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    money transfer and payment instrument licensing regulations;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    escheatment laws;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    privacy and information safeguard laws;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    bank regulations;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    consumer protection laws.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    These laws are often evolving and sometimes ambiguous or
    inconsistent, and the extent to which they apply to us or our
    issuing banks, retail distributors, network acceptance members
    or third-party processors is at times unclear. Any failure to
    comply with applicable law&#160;&#151; either by us or by the
    issuing banks, retail distributors, network acceptance members
    or third-party processors, over which we have limited legal and
    practical control&#160;&#151; could result in restrictions on
    our ability to provide our products and services, as well as the
    imposition of civil fines and criminal penalties and the
    suspension or revocation of a license or registration required
    to sell our products and services. See &#147;Risk Factors&#148;
    for additional discussion regarding the potential impacts of
    failure to comply.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We continually monitor and enhance our compliance program to
    stay current with the most recent legal and regulatory changes.
    We also continue to implement policies and programs and to adapt
    our business practices and strategies to help us comply with
    current legal standards, as well as with new and changing legal
    requirements affecting particular services or the conduct of our
    business generally. These programs include dedicated compliance
    personnel and training and monitoring programs, as well as
    support and guidance to our retail distributors and network
    acceptance members on compliance programs.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Anti-Money
    Laundering Laws</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our products and services are generally subject to federal
    anti-money laundering laws, including the Bank Secrecy Act, as
    amended by the USA PATRIOT Act, and similar state laws. On an
    ongoing basis, these laws require us, among other things, to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    report large cash transactions and suspicious activity;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    screen transactions against the U.S.&#160;government&#146;s
    watch-lists, such as the watch-list maintained by the Office of
    Foreign Assets Control;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    prevent the processing of transactions to or from certain
    countries, individuals, nationals and entities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    identify the dollar amounts loaded or transferred at any one
    time or over specified periods of time, which requires the
    aggregation of information over multiple transactions;
</TD>
</TR>

</TABLE>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    69
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    gather and, in certain circumstances, report customer
    information;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    comply with consumer disclosure requirements;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    register or obtain licenses with state and federal agencies in
    the United States and seek registration of our retail
    distributors and network acceptance members when necessary.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Anti-money laundering regulations are constantly evolving. We
    continuously monitor our compliance with anti-money laundering
    regulations and implement policies and procedures to make our
    business practices flexible, so we can comply with the most
    current legal requirements. We cannot predict how these future
    regulations might affect us. Complying with future regulation
    could be expensive or require us to change the way we operate
    our business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We are voluntarily registered with the Financial Crimes
    Enforcement Network as a money service business. We are also
    required to establish anti-money laundering compliance programs
    that include: (i)&#160;internal policies and controls;
    (ii)&#160;designation of a compliance officer;
    (iii)&#160;ongoing employee training and (iv)&#160;an
    independent review function. We have developed and deployed
    compliance programs comprised of policies, procedures, systems
    and internal controls to monitor and address various aspects of
    legal requirements and developments. To assist in managing and
    monitoring money laundering risks, we continue to enhance our
    anti-money laundering compliance program. We offer our services
    largely through our retail distributor and network acceptance
    member relationships. We have developed an anti-money laundering
    training manual and a program to assist in educating our retail
    distributors on the applicable anti-money laundering laws and
    regulations.
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Money Transfer
    and Payment Instrument Licensing Regulations</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We are subject to money transfer and payment instrument
    licensing regulations. We have obtained licenses to operate as a
    money transmitter in 39 U.S.&#160;jurisdictions. The remaining
    U.S.&#160;jurisdictions either do not currently regulate money
    transmitters or we have received a regulatory determination or a
    legal interpretation that the money services laws of that
    jurisdiction do not require us to obtain a license in connection
    with the conduct of our business. As a licensee, we are subject
    to certain restrictions and requirements, including reporting,
    net worth and surety bonding requirements and requirements for
    regulatory approval of controlling stockholders, agent locations
    and consumer forms and disclosures. We are also subject to
    inspection by the regulators in the jurisdictions in which we
    are licensed, many of which conduct regular examinations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In addition, we must at all times maintain &#147;permissible
    investments&#148; in an amount equivalent to all
    &#147;outstanding payment obligations.&#148; While, technically,
    the outstanding payment obligations represented by the balances
    on our card products are liabilities of the issuing bank and not
    us, it is possible that some states will require us to maintain
    permissible investments in an amount equal to the outstanding
    payment obligations of the bank that issues our cards. The types
    of securities that are considered &#147;permissible
    investments&#148; vary from state to state, but generally
    include cash and cash equivalents, U.S.&#160;government
    securities and other highly rated debt instruments.
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Escheatment
    Laws</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Unclaimed property laws of every U.S.&#160;jurisdiction require
    that we track certain information on our card products and
    services and that, if customer funds are unclaimed at the end of
    an applicable statutory abandonment period, the proceeds of the
    unclaimed property are remitted to the appropriate jurisdiction.
    We have agreed with the banks that issue our cards to manage
    escheatment law compliance with respect to our card products and
    services and have an ongoing program to comply with those laws.
    Statutory abandonment periods applicable to our card products
    and services typically range from three to seven years.
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Privacy and
    Information Safeguard Laws</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In the ordinary course of our business, we collect certain types
    of data, which subjects us to certain privacy and information
    security laws in the United States, including, for example, the
    Gramm-Leach-Bliley Act of 1999, or the GLB Act, and other laws
    or rules designed to regulate consumer information and mitigate
    identity theft. We are also subject to privacy laws of various
    states. These
</DIV>
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    <BR>
    70
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    state and federal laws impose obligations with respect to the
    collection, processing, storage, disposal, use and disclosure of
    personal information, and require that financial institutions
    have in place policies regarding information privacy and
    security. In addition, under federal and certain state financial
    privacy laws, we must provide notice to consumers of our
    policies and practices for sharing nonpublic information with
    third parties, provide advance notice of any changes to our
    policies and, with limited exceptions, give consumers the right
    to prevent use and disclosure of their nonpublic personal
    information with unaffiliated third parties. Certain state laws
    may, in some circumstances, require us to notify affected
    individuals of security breaches of computer databases that
    contain their personal information. These laws may also require
    us to notify state law enforcement, regulators or consumer
    reporting agencies in the event of a data breach, as well as
    businesses and governmental agencies that own data. In order to
    comply with the privacy and information safeguard laws, we have
    confidentiality/information security standards and procedures in
    place for our business activities and with network acceptance
    members and our third-party vendors and service providers.
    Privacy and information security laws evolve regularly,
    requiring us to adjust our compliance program on an ongoing
    basis and presenting compliance challenges.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Bank
    Regulations</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    All of the GPR cards that we provide and the Walmart gift cards
    we service are issued by either a federally- or state-chartered
    bank. Thus, we are subject to the oversight of the regulators
    for and certain laws applicable to these issuing banks. These
    banking laws require us, as a servicer to the banks that issue
    the cards, among other things, to undertake compliance actions
    similar to those described under &#147;&#150;&#160;Anti-Money
    Laundering Compliance&#148; above and to comply with the privacy
    regulations promulgated under the GLB Act as discussed under
    &#147;&#150;&#160;Privacy and Information Safeguard
    Regulations.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In addition, we entered into a definitive agreement to acquire a
    bank holding company and its subsidiary commercial bank, and
    filed an application with the appropriate federal and state
    regulators seeking approval for this transaction. If the
    acquisition is completed, we would become a bank holding company
    under the Bank Holding Company Act and our consolidated business
    would be subject to the extensive supervision and examination of
    the Federal Reserve Board. Moreover, our new bank subsidiary
    would be subject to regulation and examination by a state
    banking regulator and, because its deposits will be insured by
    the FDIC, the FDIC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The regulation of banks and bank holding companies is
    comprehensive, and involves regulatory oversight and examination
    of virtually every aspect of the activities and operations of
    such entities.  While not an exhaustive list, Green Dot and our
    acquired subsidiary bank would be:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    subject to periodic reporting requirements to state and federal
    banking agencies;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    subject to periodic examinations by such agencies;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    limited, in the case of Green Dot, to activities permissible for
    bank holding companies (generally activities closely related to
    the business of banking), and in the case of the subsidiary
    bank, to activities permissible for banks;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    subject to consolidated capital requirements (in general, having
    to maintain ratios of capital to assets not less than 5% of
    assets and ratios of capital to risk-adjusted assets of not less
    than 10%);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    subject to a panoply of consumer protection regulations
    governing any lending or deposit taking activities conducted by
    our acquired subsidiary bank;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    required to assess and meet the credit needs of the communities
    in which the bank is located, including low- and moderate-income
    neighborhoods or otherwise meet the requirements of the
    Community Reinvestment Act of 1977; and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    subject to extensive enforcement powers granted the banking
    agencies allowing them to institute cease and desist
    proceedings, impose civil money penalties or take certain other
    actions in the event we, our acquired subsidiary bank or any of
    our or its officers or directors
</TD>
</TR>
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    <BR>
    71
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    engage in unsafe or unsound practices, violations of laws or
    regulations or certain other activities.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our ability or our acquired subsidiary bank to engage in new
    activities, offer new products or provide products or services
    from new locations could be subject to limitations or
    restrictions imposed by the state or federal banking agencies.
    While we believe that the acquisition of the bank will provide
    us with important strategic advantages and that we will be able
    to operate and execute our business plan successfully in this
    regulated environment, state or federal banking agencies
    exercise a high degree of discretion in the implementation of
    the laws and regulations that would affect us as a bank holding
    company and our acquired subsidiary bank.  Accordingly, there
    can be no assurance that we will realize the expected benefits
    of our pending bank acquisition.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The regulation and supervision of banks and bank holding
    companies will require us to incur additional compliance costs
    and other expenses.  For example, our acquired subsidiary bank
    will be subject to assessments by the FDIC associated with
    deposit insurance, and the state banking department supervising
    the bank will likely impose periodic examination fees.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The U.S. Congress is considering various proposals relating to
    the activities and supervision of banks and bank holding
    companies, some of which could materially affect our operations
    and those of our acquired subsidiary bank.  While there can be
    no assurance regarding the ultimate impact that adoption of
    these proposals will have on us, if the proposals are enacted,
    we expect that the benefits we expect to realize from our
    pending bank acquisition will be reduced.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Consumer
    Protection Laws</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We are subject to state and federal consumer protection laws,
    including laws prohibiting unfair and deceptive practices,
    regulating electronic fund transfers and protecting consumer
    nonpublic information. We believe that we have appropriate
    procedures in place for compliance with these consumer
    protection laws, but many issues regarding our service have not
    yet been addressed by the federal and state agencies charged
    with interpreting the applicable laws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Although not expressly required to do so under the Electronic
    Fund&#160;Transfer Act and Regulation&#160;E of the Federal
    Reserve Board, we disclose, consistent with banking industry
    practice, the terms of our electronic fund transfer services to
    consumers prior to their use of the service, provide
    21&#160;days&#146; advance notice of material changes, establish
    specific error resolution procedures and timetables, and limit
    customer liability for transactions that are not authorized by
    the consumer.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Card
    Associations</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In order to provide our products and services, we, as well as
    the banks that issue our cards, must register with Visa and
    MasterCard and, as a result, are subject to card association
    rules that could subject us to a variety of fines or penalties
    that may be levied by the card association or network for
    certain acts or omissions. The banks that issue our cards are
    specifically registered as &#147;members&#148; of the Visa
    <FONT style="white-space: nowrap">and/or</FONT>
    MasterCard card associations. Visa and MasterCard set the
    standards with which we and the issuing banks must comply.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Employees</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As of October&#160;31, 2009, we had 256&#160;employees,
    including 224 in general and administrative, 25 in sales and
    marketing and 7 in research and product development. None of our
    employees is represented by a labor union or is covered by a
    collective bargaining agreement. We have never experienced any
    employment-related work stoppages and consider relations with
    our employees to be good. As of October&#160;31, 2009, we also
    had arrangements with third-party call center providers in
    Guatemala and the Philippines that provided us with
    approximately 667 contractors for customer service and similar
    functions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Facilities</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We lease approximately 56,000&#160;square feet in Monrovia,
    California for our corporate headquarters, pursuant to a
    noncancelable lease agreement for approximately
    49,000&#160;square feet that expires
</DIV>
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    <BR>
    72
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    in September 2012 and a sub-lease agreement for approximately
    7,000&#160;square feet that expires in December&#160;2011. We
    believe our space is adequate for our current needs and that
    suitable additional or substitute space will be available to
    accommodate the foreseeable expansion of our operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Legal
    Proceedings</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    From time to time, we may be subject to legal proceedings and
    claims in the ordinary course of business. We are not currently
    a party to any material legal proceedings, and to our knowledge
    none is threatened.
</DIV>
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    <BR>
    73
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='112'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">MANAGEMENT</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Executive
    Officers and Directors</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table provides information regarding our executive
    officers and directors as of February&#160;22, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="44%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="51%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Age</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Position(s)</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Steven W. Streit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    47
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Chairman, President and Chief Executive Officer
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Mark T. Troughton
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    41
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    President, Cards and Network
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John L. Keatley
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    36
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Chief Financial Officer
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John C. Ricci
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    44
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    General Counsel and Secretary
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William D. Sowell
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    44
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Chief Operating Officer
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Kenneth C. Aldrich*
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    71
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Director
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Timothy R. Greenleaf(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    53
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Director
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Virginia L. Hanna(1)(2)(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    59
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Director
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Michael J. Moritz(2)(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    55
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Director
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William H. Ott, Jr.(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    58
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Director
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    W. Thomas Smith, Jr.(2)(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    63
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Director
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    *&#160;</TD>
    <TD></TD>
    <TD valign="bottom">
    Lead independent director</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Member of our audit committee.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Member of our compensation committee.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Member of our nominating and governance committee.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Steven W. Streit </I>is our founder, and has served as our
    President and a director since October 1999, our Chief Executive
    Officer since January 2001 and our Chairman since February 2010.
    He also served as our Secretary from October 1999 to April 2000
    and as our Treasurer from October 1999 to April 2004. From 1983
    to 1999, Mr.&#160;Streit worked in the radio broadcasting
    industry, including serving as a Vice President of Programming
    at AMFM, a publically-traded radio broadcast group.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Mark T. Troughton </I>has served as our President, Cards and
    Network, since February 2007. From June 2003 to July 2004, he
    served as our Executive Vice President, Business Development,
    and from July 2004 to February 2007, he served as our Chief
    Operating Officer and Executive Vice President of Corporate
    Strategy. Prior to joining Green Dot, Mr.&#160;Troughton was
    Vice President, Marketplace Services for Quadrem.com, an
    Internet procurement company. Mr.&#160;Troughton&#146;s prior
    experience also includes his four-year tenure at
    McKinsey&#160;&#038; Company, a management consulting firm,
    where he served in various capacities, including most recently
    as Engagement Manager. Mr.&#160;Troughton started his career as
    a Chartered Accountant and entrepreneur in South Africa. He
    holds a BCom, a BCom (Hons) and an MCom, each in finance,
    accounting or related subjects, from the University of Cape Town
    (South Africa).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>John L. Keatley </I>has served as our Chief Financial Officer
    since October 2006. From May 2005 to October 2006, he served as
    our Vice President, Finance, and from August 2004 to May 2005,
    he served as our Director, Financial Planning&#160;&#038;
    Analysis. Prior to joining Green Dot, Mr.&#160;Keatley served in
    various positions at McKinsey&#160;&#038; Company, a management
    consulting firm, from October 2001 to July 2004, most recently
    as Engagement Manager. Mr.&#160;Keatley holds an A.B. in physics
    from Princeton University and an M.B.A. from Harvard Business
    School.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>John C. Ricci </I>has served as our General Counsel since
    June 2004. From April 2003 to June 2004, he served as our
    Director of Legal Affairs. Prior to joining Green Dot,
    Mr.&#160;Ricci was an associate at the law firm of Strategic Law
    Partners, LLP from November 1999 to June 2002. Mr.&#160;Ricci
    began his career as an attorney in the Enforcement Division of
    the SEC. Mr.&#160;Ricci holds a B.A. in
</DIV>
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    <BR>
    74
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    economics and political science from the University of
    California at San&#160;Diego and a J.D. from Loyola Law School.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>William D. Sowell </I>has served as our Chief Operating
    Officer since March 2009. Prior to joining Green Dot,
    Mr.&#160;Sowell served in a number of positions at GE Money, a
    financial services company, from March 1998 to January 2006,
    most recently as Vice President, Prepaid Products. From May 1998
    to March 2000, Mr.&#160;Sowell served as a Master Black Belt
    (Vice President, Quality) at GE Mortgage Services, a mortgage
    servicing company. Mr.&#160;Sowell holds a B.S. in electronic
    engineering technology from East Tennessee State University and
    an M.B.A. from Southern Methodist University.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Kenneth C. Aldrich </I>has served on our board of directors
    since January 2001. Mr.&#160;Aldrich is currently Chairman of
    the Board of International Stem Cell Corporation, a
    biotechnology company focused on developing therapeutic and
    research products through a proprietary stem cell technology. He
    has served in that position since January 2008 and previously
    from January 2001 through June 2006. Mr.&#160;Aldrich has also
    served as President of The Aldrich Company, a real estate
    investment firm, since June 1975, and on the board of directors
    of WaveTec Vision Systems, Inc. since January 1999.
    Mr.&#160;Aldrich previously served on the boards of directors of
    Encode Bio, Inc. and International Stem Cell Corporation.
    Mr.&#160;Aldrich holds an A.B. in history and literature from
    Harvard University and a J.D. from Harvard Law School.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Timothy R. Greenleaf </I>has served on our board of directors
    since January 2001. Mr.&#160;Greenleaf has been the Managing
    Director of Fairmont Capital, Inc., a private equity firm with a
    focus on investments in middle-market consumer-related
    businesses, since January 1999. Previously, Mr.&#160;Greenleaf
    was a partner at the law firm of Fulbright&#160;&#038; Jaworski
    L.L.P., specializing in mergers and acquisitions, and tax and
    corporate structuring. Mr.&#160;Greenleaf has served on a number
    of other boards of directors, including Fairmont Capital, Garden
    Fresh Restaurant Corp. (Souplantation) and Shari&#146;s
    Management Corp. Mr.&#160;Greenleaf holds a dual B.A. in
    administrative studies and political science from the University
    of California at Riverside, a J.D. from Loyola Law School and an
    L.L.M. in taxation from New York University Law School.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Virginia L. Hanna </I>has served on our board of directors
    since April 2002. Ms.&#160;Hanna has served as the President and
    Chief Executive Officer of Hanna Capital Management, Inc., a
    business management firm, since March 1998, as a Managing Member
    of Hanna Ventures, LLC, a venture capital firm, since April
    1999, and as CEO, President, and Managing Member of Hanna
    Energy, LLC, an energy consulting firm since December 2009. From
    1996 to April 1997, Ms.&#160;Hanna was Treasurer and Director of
    Investor Relations at Intuit Inc. Ms.&#160;Hanna served as the
    Vice President and Treasurer of The Vons Companies, Inc. from
    1985 to 1995. Ms.&#160;Hanna holds a B.A. in liberal arts from
    the University of Illinois and an M.B.A. in finance from DePaul
    University.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Michael J. Moritz </I>has served on our board of directors
    since February 2003. Mr.&#160;Moritz has been a Managing Member
    of Sequoia Capital since 1986. He has previously served as a
    director of a variety of companies including Flextronics Ltd.,
    Google Inc., PayPal, Inc., Red Envelope, Inc., Saba Software,
    Inc., Yahoo! Inc. and Zappos.com, Inc. Mr.&#160;Moritz holds an
    M.A. in modern history from Christ Church, Oxford.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>William H. Ott,&#160;Jr.</I> has served on our board of
    directors since January 2010. Since 2003, Mr.&#160;Ott has
    served as the President of PEAC Ventures, Inc., a corporate
    advisory and consulting firm. From 2002 to 2003, Mr.&#160;Ott
    served as the Chief Operating Officer of Visa U.S.A. Inc. From
    1998 to 2002, Mr.&#160;Ott served as Group Executive in charge
    of retail, small business, card services, mortgage and consumer
    banking, as well as marketing, advertising and operations, for
    St.&#160;George Bank, a commercial bank based in Sydney,
    Australia. He serves as an advisor to the Ethics and Compliance
    Officer Association. Mr.&#160;Ott previously served as Chairman
    of E*TRADE Bank and as a director of CashCard Australia.
    Mr.&#160;Ott holds a B.A. in English from San&#160;Jose State
    University and an M.B.A. from Santa&#160;Clara University.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>W.&#160;Thomas Smith,&#160;Jr.</I> has served on our board of
    directors since April 2001. Mr.&#160;Smith founded Total
    Technology Ventures, LLC, a venture capital firm, and has been
    its Managing Director since April 2000. Mr.&#160;Smith retired
    from IBM in 2000 after 30&#160;years of service. Mr.&#160;Smith
    also serves on the
</DIV>
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    <BR>
    75
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    boards of directors of numerous private companies, including ALI
    Solutions,
    <FONT style="white-space: nowrap">E-Duction,</FONT>
    Inc. and Silverpop. Mr.&#160;Smith holds a B.S. in industrial
    management from The Georgia Institute of Technology and
    completed the executive program at Dartmouth College&#146;s Amos
    Tuck School of Business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our executive officers are elected by, and serve at the
    discretion of, our board of directors. There are no familial
    relationships among our directors and officers.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Board of
    Directors Composition</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Under our restated bylaws, our board of directors may set the
    authorized number of directors. Our board of directors currently
    consists of seven members. Upon the completion of this offering,
    our Class&#160;A common stock will be listed on the NYSE. The
    rules of the NYSE require that a majority of the members of our
    board of directors be independent within specified periods
    following the completion of this offering. Our board of
    directors has determined that the following six members of our
    board of directors are currently independent as determined under
    the rules of the NYSE: Messrs.&#160;Aldrich, Greenleaf, Moritz,
    Ott and Smith and Ms.&#160;Hanna.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Pursuant to an investors&#146; rights agreement, as amended
    through February 2010, Messrs.&#160;Aldrich, Greenleaf, Moritz,
    Ott, Smith and Streit and Ms.&#160;Hanna were designated to
    serve as members of our board of directors. Pursuant to that
    agreement, Messrs.&#160;Aldrich, Ott and Smith and
    Ms.&#160;Hanna were selected as the representatives of our
    preferred stock, as a class. Mr.&#160;Moritz was selected as the
    representative of our Series&#160;C, C-1 and C-2 Preferred Stock
    and the remaining members of our board of directors were
    selected by all of the holders of our common stock. Our
    currently serving members of the board will continue to serve as
    directors until their resignations or until their successors are
    duly elected by the holders of our common stock, despite the
    fact that the investors&#146; rights agreement will terminate
    upon the completion of this offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our board of directors is divided into three classes of
    directors who serve staggered three-year terms, as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Class&#160;I directors are Messrs.&#160;Ott and Smith (current
    terms expiring in 2011);
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Class&#160;II directors are Mr.&#160;Aldrich and Ms.&#160;Hanna
    (current terms expiring in 2012);&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Class&#160;III directors are Messrs.&#160;Greenleaf, Moritz and
    Streit (current terms expiring in 2013).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    At each annual meeting of our stockholders, successors to the
    directors whose terms expire at that meeting will be elected to
    serve until the third annual meeting after their election or
    until their successors have been elected. As a result, only one
    class of directors will be elected at each annual meeting of our
    stockholders, with the other classes serving for the remainder
    of their respective terms.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Committees of Our
    Board of Directors</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our board of directors has established an audit committee, a
    compensation committee and a nominating and governance
    committee. The composition and responsibilities of each
    committee are described below. Following the completion of this
    offering, copies of the charters for each committee will be
    available without charge, upon request in writing to Green Dot
    Corporation, 605 East Huntington Drive, Suite&#160;205,
    Monrovia, California 91016, Attn: General Counsel or on the
    investor relations portion of our website, www.greendot.com.
    Members serve on these committees until their resignations or
    until otherwise determined by our board of directors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Audit
    Committee</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our audit committee is comprised of Mr.&#160;Greenleaf, who is
    the chair of the audit committee, and Ms.&#160;Hanna and
    Mr.&#160;Ott. The composition of our audit committee meets the
    requirements for independence under the current NYSE and SEC
    rules and regulations. Each member of our audit committee is
    financially literate as required by current NYSE listing
    standards. In addition, our board of directors has determined
    that Mr.&#160;Greenleaf is an audit committee financial expert
    within the meaning of Item&#160;407(d) of
    <FONT style="white-space: nowrap">Regulation&#160;S-K</FONT>
    under the Securities Act. Our audit committee recommended, and
    our board of directors adopted, an amended and restated charter
    for our audit
</DIV>
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    <BR>
    76
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    committee, which will be posted on the investor relations
    portion of our website, www.greendot.com, following the
    completion of this offering. Our audit committee, among other
    things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    oversees our corporate accounting and financial reporting
    process;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    appoints, compensates, retains and oversees the work of any
    registered public accounting firm engaged for the purpose of
    preparing or issuing an audit report or performing other audit,
    review or attest services for our company, including:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    selection of our independent registered public accounting firm
    to audit our consolidated financial statements;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    evaluation of our independent registered public accounting
    firm&#146;s qualifications, independence and performance;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    review and approval of the scope of the annual audit and
    quarterly review services;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    discussion with management and our independent registered public
    accounting firm regarding the results of the annual audit and
    the review of our quarterly consolidated financial statements;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    approval or pre-approval, as required by SEC and other
    applicable rules and regulations, of the retention of our
    independent registered public accounting firm to perform any
    proposed permissible non-audit services;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    monitoring of the rotation of partners of our independent
    registered public accounting firm on our company&#146;s audit
    engagement team as required by law;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviews our critical accounting policies and estimates;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    establishes procedures for the receipt, retention and treatment
    of complaints regarding accounting, internal accounting controls
    and auditing matters, including procedures for the confidential,
    anonymous submission by our employees of concerns regarding
    questionable accounting or auditing matters;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    considers the adequacy of our internal control over financial
    reporting;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    oversees our internal audit function;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    annually reviews the audit committee charter and the audit
    committee&#146;s performance.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The audit committee will operate under a written charter that
    will satisfy the applicable standards of the SEC and the NYSE.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Compensation
    Committee</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our compensation committee is comprised of Mr.&#160;Smith, who
    is the chair of the compensation committee, and Ms.&#160;Hanna
    and Mr.&#160;Moritz. The composition of our compensation
    committee meets the requirements for independence under the
    current NYSE and SEC rules and regulations. The purpose of our
    compensation committee is to discharge the responsibilities of
    our board of directors relating to compensation of our executive
    officers. Our compensation committee recommended, and our board
    of directors adopted a charter for our compensation committee,
    which will be posted on the investor relations portion of our
    website, www.greendot.com, following the completion of this
    offering. Our compensation committee, among other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviews and determines, or makes recommendations to our board of
    directors regarding, the compensation of our executive officers;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    administers our stock and equity incentive plans;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviews and makes recommendations to our board of directors with
    respect to incentive compensation and equity plans;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    establishes and reviews general policies relating to
    compensation and benefits of our employees.
</TD>
</TR>

</TABLE>
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    <BR>
    77
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Nominating and
    Governance Committee</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The nominating and governance committee is comprised of
    Ms.&#160;Hanna, who is the chair of the nominating and
    governance committee, and Messrs.&#160;Moritz and Smith. The
    composition of our nominating and governance committee meets the
    requirements for independence under the current NYSE and SEC
    rules and regulations. The nominating and governance committee
    recommended, and our board of directors adopted a charter for
    our nominating and governance committee, which will be posted on
    the investor relations portion of our website, www.greendot.com,
    following the completion of this offering. Our nominating and
    governance committee, among other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    identifies, evaluates and recommends nominees to our board of
    directors and its committees;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    evaluates the performance of our board of directors and of
    individual directors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    considers and makes recommendations to our board of directors
    regarding composition of the board and its committees;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviews related party transactions and proposed waivers of our
    code of conduct;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviews developments in corporate governance practices;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    evaluates the adequacy of our corporate governance practices and
    reporting;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    makes recommendations to our board of directors concerning
    corporate governance matters.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Compensation
    Committee Interlocks and Insider Participation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Since August&#160;1, 2008, the following directors and former
    directors have at one time been members of our compensation
    committee: Messrs.&#160;Moritz and Smith, Ms.&#160;Hanna and a
    former director, Donald B. Wiener. None of them has at any time
    been one of our officers or employees. None of our executive
    officers serves or in the past has served as a member of the
    board of directors or compensation committee of any entity that
    has one or more of its executive officers serving on our board
    of directors or our compensation committee.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Preferred
    Stock Financings</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In December 2008, entities associated with Sequoia Capital
    purchased 1,181,818&#160;shares of
    <FONT style="white-space: nowrap">Series&#160;C-2</FONT>
    Preferred Stock. Mr.&#160;Moritz was then and is currently a
    General Partner of Sequoia Capital.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Warrant
    Exercises</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In November 2006, Mr.&#160;Wiener exercised warrants to purchase
    224,132&#160;shares of our Class&#160;B common stock for his own
    account and on behalf of a number of individuals who have
    appointed him to be their attorney-in-fact with respect to
    certain matters related to interests in our capital stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In March 2007, David W. Hanna, Trustee, David William Hanna
    Trust dated October&#160;30, 1989 exercised warrants to purchase
    145,348&#160;shares of our Class&#160;B common stock.
    Mr.&#160;Hanna is the spouse of Virginia L. Hanna.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Director
    Compensation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table provides information for the fiscal year
    ended July&#160;31, 2009 regarding all plan and non-plan
    compensation awarded to, earned by or paid to each non-employee
    who served as a director for some portion or all of that year.
    In fiscal 2009, none of our directors received compensation for
    his or her services as a director except the chairman of our
    audit committee, who received an equity award, with a grant date
    fair value of $39,990, for serving in that role. Other than
    reimbursement of reasonable travel and related expenses incurred
    by non-employee directors in connection with their attendance at
    meetings of our board of directors and its committees, we did
    not pay any other
</DIV>
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    <BR>
    78
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    fees or make any equity or non-equity awards to or pay any other
    compensation to our non-employee directors in fiscal 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="86%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="10%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Stock Awards</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Kenneth C. Aldrich
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Timothy R. Greenleaf
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    39,990
</TD>
<TD nowrap align="left" valign="bottom">
    (1)
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Virginia L. Hanna
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Michael J. Moritz
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William H. Ott, Jr.(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    W. Thomas Smith, Jr.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Michael S. Fisher*
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Donald B. Wiener*
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    *&#160;</TD>
    <TD></TD>
    <TD valign="bottom">
    Former director.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents the grant date fair value of 3,720 fully-vested
    shares of our common stock that were issued to
    Mr.&#160;Greenleaf as compensation for his services as chairman
    of the audit committee on December&#160;11, 2008 under our 2001
    Stock Plan.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Mr.&#160;Ott was appointed to our board of directors after the
    completion of fiscal 2009 and did not receive any compensation
    for fiscal 2009.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In December 2009, we began to compensate our non-employee
    directors with a combination of cash and equity awards. Each
    non-employee director will receive annual base compensation of
    $20,000 and $3,000 per meeting day attended. In addition, each
    non-employee director who is not affiliated with a holder of our
    preferred stock prior to completion of this offering will
    receive an initial equity award of an option to purchase
    17,000&#160;shares of our Class&#160;B common stock or, if
    awarded after completion of this offering, Class&#160;A common
    stock. In addition, the chairperson of our audit committee will
    receive annual cash compensation of $40,000 for serving in that
    role. Other members of the audit committee will also receive
    annual cash compensation of $5,000 for serving on our audit
    committee, provided they are not affiliated with a holder of our
    preferred stock prior to completion of this offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In February 2010, in connection with his appointment to our
    board of directors, we awarded Mr.&#160;Ott an option to
    purchase 17,000&#160;shares of our Class&#160;B common stock,
    with an exercise price of $25.00 per share. This award had a
    grant date fair value of $220,660.
</DIV>
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    <BR>
    79
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='113'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">EXECUTIVE
    COMPENSATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Compensation
    Discussion and Analysis</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following discussion describes and analyzes our compensation
    program for the five executive officers who are identified in
    the &#147;Summary Compensation Table&#148; below (our
    &#147;named executive officers&#148;). For fiscal 2009, our
    named executive officers were:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Steven W. Streit, Chairman, President and Chief Executive
    Officer, or CEO;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Mark T. Troughton, President, Cards and Network;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    John L. Keatley, Chief Financial Officer;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    John C. Ricci, General Counsel and Secretary;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    William D. Sowell, Chief Operating Officer.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Compensation
    Philosophy and Objectives</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our executive compensation program is designed to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    attract and retain talented and experienced executives in our
    industry;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    motivate and reward executives whose knowledge, skills and
    performance are critical to our success;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    link compensation to company performance and individual
    achievement;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    link specific cash-based elements of compensation to our
    near-term financial performance;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    align the interests of our executive officers and those of our
    stockholders by providing our executive officers with long-term
    incentives to increase stockholder value.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have endeavored to create an executive compensation program
    that provides a mix of short-term and long-term payments and
    awards, cash payments and equity awards, and fixed and variable
    payments and awards that we believe appropriately motivates our
    executive officers and discourages them from taking excessive or
    unnecessary risks. We view these components of compensation as
    related but distinct. Although our compensation committee
    considers the value of total compensation of our executive
    officers, neither our board of directors nor our compensation
    committee believes that significant compensation derived from
    one component of compensation should negate or reduce
    compensation derived from other components. Except as described
    below, neither our compensation committee nor our board of
    directors has adopted any formal or informal policies or
    guidelines for allocating total target compensation between
    short-term and long-term compensation, between cash payments and
    equity awards or between fixed and variable payments and awards.
    However, in general, our compensation committee and our board of
    directors believe a significant portion of the value of total
    target compensation for each named executive officer should be
    in the form of performance-based compensation. In addition, our
    compensation committee and our board of directors strive to keep
    cash compensation at a competitive level while providing
    executive officers with the opportunity to be well rewarded
    through equity awards if our company performs well over time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    From time to time, special business conditions may warrant
    additional compensation to attract, retain or motivate executive
    officers. Examples of these conditions include the need to
    recruit or retain individuals with specific or unique talents,
    and to recognize exceptional contributions. In these situations,
    we consider our business needs and the potential costs and
    benefits of special rewards. For instance, in fiscal 2009, we
    awarded Mr.&#160;Sowell a housing and travel allowance under his
    offer letter.
</DIV>
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    <BR>
    80
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><I>Historical Compensation Decision Process</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our compensation committee oversees the compensation of our
    named executive officers and our executive compensation programs
    and initiatives. Our compensation committee typically reviews
    executive officer compensation, both base salary levels and the
    target levels for variable cash incentive awards, following the
    end of each fiscal year. In connection with this review, our
    compensation committee considers any input it may receive from
    our CEO (with respect to executive officers other than himself)
    to evaluate the performance of each executive officer and sets
    each executive officer&#146;s total target cash compensation for
    the current year based on this review and the other factors
    described below. We pay cash incentive awards under our
    management cash incentive plan, which is designed to compensate
    our named executive officers for their contribution to achieving
    semi-annual financial goals contained in our company financial
    plan, as explained in further detail below. This plan informally
    resets each year when our board of directors approves our
    company financial plan for the next fiscal year unless and until
    our compensation committee or our board of directors determines
    otherwise. In connection with its annual review and any reviews
    that occur during the fiscal year, our compensation committee
    also recommends to our board of directors any equity
    compensation to be awarded to the named executive officers.
    Authority to make equity award grants to our named executive
    officers currently rests with our board of directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have based most, if not all, of our prior compensation
    determinations, including those made for fiscal 2009, on a
    variety of factors, including our performance, financial
    condition and available resources, individual performance, our
    need for a particular position to be filled and the
    recommendations of our CEO (other than with respect to his own
    compensation). In addition, we have based our prior compensation
    determinations on our compensation committee&#146;s
    <FONT style="white-space: nowrap">and/or</FONT> our
    board of directors&#146; evaluation of the competitive market
    based on their respective members&#146; experience with other
    companies and the competitive market, compensation survey data
    available from outside sources and, to a lesser degree, the
    compensation levels of our other executive officers, each as of
    the time of the applicable compensation decision. Although our
    compensation committee members refer to compensation survey
    data, they do not formally benchmark executive compensation
    against a particular set of comparable companies or use a
    formula to set the compensation for our executives in relation
    to survey data. Substantially all of our compensation
    committee&#146;s discussions and decisions about executive
    compensation occur outside of formal meetings through
    <FONT style="white-space: nowrap">e-mails</FONT> and
    other informal communications. In establishing compensation for
    executive officers other than our CEO, our compensation
    committee gives weight to the recommendations of our CEO, which
    are communicated to the chair of our compensation committee, but
    final decisions about the compensation of our named executive
    officers are typically made solely by our compensation committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We expect that the specific direction, emphasis and components
    of our executive compensation program will continue to evolve as
    we gain experience operating as a public company. Accordingly,
    the compensation paid to our named executive officers for fiscal
    2009 is not necessarily indicative of how we will compensate our
    named executive officers following this offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><I>Elements of Compensation</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our current executive compensation program consists of the
    following primary components:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    base salary;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    variable and other cash incentive awards linked to corporate
    <FONT style="white-space: nowrap">and/or</FONT>
    individual objectives;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    periodic grants of long-term equity-based awards.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Base Salary.</I>&#160;&#160;We seek to provide each member of
    our senior management with a base salary that is appropriate for
    his roles and responsibilities, and that provides him with a
    level of income stability. Our compensation committee reviews
    the base salaries of our executive officers annually, with
    significant input from our CEO, to determine whether any
    adjustment is warranted. In considering a base salary
    adjustment, our compensation committee considers our
    company&#146;s overall performance and the executive
    officer&#146;s performance, individual contribution, changes in
    responsibilities and prior experience. Our compensation
    committee may also take into account the executive
    officer&#146;s current
</DIV>
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    81
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    salary and equity ownership and the amounts paid to other
    executive officers of our company. Our compensation committee
    relies upon its members&#146; experience with the compensation
    practices of other companies, compensation survey data available
    from outside sources and its members&#146; familiarity with the
    competitive market.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    For fiscal 2009, we determined the base salaries of each named
    executive officer by evaluating our company&#146;s overall
    performance and his performance, contributions and prior
    experience. Our compensation committee made its compensation
    decisions for fiscal 2009 based on its subjective judgment
    taking into account the available information, including our
    CEO&#146;s recommendations and the experience of the members of
    our compensation committee with the compensation practices of
    other companies, compensation survey data available from outside
    sources and their familiarity with the competitive market. After
    careful consideration, in October 2008, our compensation
    committee increased the base salaries of Messrs.&#160;Keatley,
    Ricci and Troughton by $50,000 (to $300,000), $25,000 (to
    $275,000) and $50,000 (to $350,000), respectively. Our
    compensation committee made these adjustments to make these base
    salaries more competitive with those of other companies and to
    compensate these named executive officers for increased
    responsibilities associated with our company&#146;s growth.
    Consistent with his request, Mr.&#160;Streit did not receive a
    base salary increase. Our compensation committee believed
    Mr.&#160;Streit&#146;s then-current salary level was
    competitive, and his salary, together with his equity ownership
    in our company and vested stock option awards, would serve as an
    effective means of retaining and incentivizing him.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In connection with the hiring of Mr.&#160;Sowell as our Chief
    Operating Officer in March 2009, we negotiated an employment
    arrangement with him that provided for an annual base salary of
    $235,000. In negotiating and setting Mr.&#160;Sowell&#146;s base
    salary, we offered him the amount of compensation we believed
    was necessary to attract a qualified candidate, taking into
    account the other cash compensation and personal benefits
    offered, including Mr.&#160;Sowell&#146;s $4,000 per month
    housing and travel allowance. See &#147;&#150;&#160;Other
    Executive Benefits and Perquisites&#148; for a description of
    this benefit. In July 2009, we increased Mr.&#160;Sowell&#146;s
    base salary by $50,000 (to $285,000) in recognition of the fact
    that Mr.&#160;Sowell&#146;s responsibilities within our company
    were greater than originally anticipated and to achieve internal
    equity among our named executive officer team.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The actual base salaries paid to our named executive officers in
    fiscal 2009 are set forth in the &#147;Summary Compensation
    Table&#148; below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Cash Incentive Awards.</I>&#160;&#160;We utilize cash bonuses
    to incentivize our executive officers to achieve company
    <FONT style="white-space: nowrap">and/or</FONT>
    individual performance goals on a semi-annual basis, and to
    reward extraordinary accomplishments. We establish bonus targets
    for variable cash incentive awards annually, following the end
    of the fiscal year, and we pay bonuses following the applicable
    performance period (i.e., the first and second halves of each
    fiscal year). Each executive officer&#146;s target bonus amount
    is a pre-determined amount that is intended to provide a
    competitive level of compensation if the executive officer
    achieves his performance targets. Performance targets consist of
    one or more company performance objectives
    <FONT style="white-space: nowrap">and/or</FONT>
    individual objectives established by our CEO for the particular
    executive officer. In general, we use performance targets to
    ensure that our executive compensation program aligns the
    interests of each of the named executive officers with those of
    our stockholders and that we provide the named executive
    officers with incentives to maximize their efforts throughout
    the year. Our annual variable cash incentive awards are intended
    to compensate our named executive officers for their
    contribution to achieving semi-annual financial goals contained
    in our company financial plan and for success in meeting any
    individual performance objectives. We determine the actual bonus
    award for each named executive officer according to his level of
    achievement of his performance objectives. For more information
    about our variable cash incentive awards, see
    &#147;&#150;&#160;FY2009 Management Cash Incentive Compensation
    Plan&#148; below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our compensation committee may grant non-plan cash incentive
    awards at any time during the fiscal year to reward an executive
    officer who accomplishes pre-established extraordinary or
    nonrecurring business objectives on behalf of our company. To
    date, the compensation committee has granted these awards
    infrequently. In October 2008, our compensation committee
    approved a $50,000 award
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    to Mr.&#160;Troughton, conditioned upon his success at securing
    a key commercial agreement on acceptable terms. We paid
    Mr.&#160;Troughton this amount in full in January 2009 pursuant
    to the terms of the award.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The actual cash incentive awards paid to our named executive
    officers in fiscal 2009, as determined in accordance with our
    management cash incentive compensation plan (described below) or
    otherwise, are set forth in the &#147;Summary Compensation
    Table&#148; below under the column captioned &#147;Non-Equity
    Incentive Plan Compensation.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>FY2009 Management Cash Incentive Compensation
    Plan.</I>&#160;&#160;We calculated all variable cash incentive
    awards under our FY2009 Management Cash Incentive Compensation
    Plan by multiplying the individual&#146;s on-target bonus amount
    by the percentage of achievement of corporate objectives and, if
    applicable, by the percentage of achievement of individual
    objectives, or IOP. In keeping with past practice, in early
    fiscal 2009 we established no individual objectives for our
    named executive officers for any of the periods under the plan.
    In March 2009, we tied our new Chief Operating Officer&#146;s
    cash incentive award to both corporate objectives and individual
    objectives, as explained below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Target Bonus.</I>&#160;&#160;For fiscal 2009, our
    compensation committee set the annual on-target bonus amount for
    each executive officer at a value that it believed would provide
    a competitive level of compensation if the executive officer
    achieved his performance targets, based on its subjective
    judgment taking into account the available information,
    including our CEO&#146;s recommendations and its members&#146;
    experience with the compensation practices of other companies,
    compensation survey data available from outside sources and its
    members&#146; familiarity with the competitive market. For
    fiscal 2009, the individual on-target bonus amounts for the
    named executive officers ranged from 15% to 36% of their
    respective base annual salaries. The on-target bonus amounts for
    our named executive officers for fiscal 2009 were as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="85%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>On-Target<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Executive Officer</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Bonus Amount</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Steven W. Streit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    75,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Mark T. Troughton
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John L. Keatley
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John C. Ricci
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William D. Sowell
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,471
</TD>
<TD nowrap align="left" valign="bottom">
    (1)
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Mr.&#160;Sowell&#146;s annual on-target bonus amount was
    $70,500, prorated based on his date of hire of March&#160;2,
    2009. In connection with the hiring of Mr.&#160;Sowell as our
    Chief Operating Officer in March 2009, we negotiated an
    employment arrangement with him that provided for an on-target
    bonus amount equal to 30% of his base annual salary, which we
    believed was the level of variable cash incentive compensation
    required to attract qualified candidates and provide the
    candidate selected with appropriate incentives during his first
    year of service.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The actual on-target bonus amounts in each of the applicable
    semi-annual periods were 50% of the amounts stated above. As
    explained below, the actual amount of any variable cash
    incentive award paid to a named executive officer could be less
    than 100% of the applicable on-target bonus amount, depending on
    the percentage of achievement of corporate and individual
    objectives. The management cash incentive compensation plan
    provides that the amount of the actual bonus payment cannot
    exceed the on-target bonus amount.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our board of directors approves a financial plan for our company
    for each fiscal year and, in practice, that action resets our
    management cash incentive plan for that year, establishing the
    corporate objective under the plan. For fiscal 2009, the bonuses
    were earned and paid semi-annually based upon attainment of the
    semi-annual goals contained in our company financial plan for
    profit before tax, or PBT, which is calculated by adding the
    amount of stock-based compensation to the amount of Income
    before income taxes reflected in our consolidated statements of
    income. PBT was originally chosen as the corporate objective
    under the plan because we believed it to be the best
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    indicator of financial success and stockholder value creation
    for our company. We also believe that the focus on PBT as the
    corporate objective discourages inappropriate risk taking by our
    executives as it encourages them to take a balanced approach
    that focuses on corporate profitability. The PBT targets were
    set at levels that were intended to reward the named executive
    officers for achieving results that met our expectations. We
    believe that, to provide for an appropriate incentive effect,
    the goals should be such that to achieve 100% of the objective,
    the performance for the applicable period must be aligned with
    our company financial plan, and that named executive officers
    should not be rewarded for company performance that did not
    approximate our company financial plan. Accordingly, as
    discussed below, we would have paid our named executive officers
    nothing if the minimum achievement threshold level of a
    particular goal was not met, i.e., was less than 90% of the PBT
    target.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    For the first and last six months of fiscal 2009, the PBT
    targets under the plan were $24.3&#160;million (145% growth) and
    $36.4&#160;million (69% growth), respectively, and actual
    results were $24.2&#160;million (144% growth) and
    $42.4&#160;million (96% growth), respectively. We determined
    that the company objective percentage was 100% for both periods,
    which under the above formula resulted in 100% of the awards
    being payable to the executive officer participants, subject to
    the impact of any individual objective(s) established for the
    participants.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We may also set individual objectives under our management cash
    incentive compensation plan to promote achievement of
    non-financial operational goals. According to the plan, these
    objectives should be:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    directly or indirectly linked to our company&#146;s achievement
    of its objectives;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    aspirational&#160;&#150; i.e., their achievement should
    represent a bonus-worthy accomplishment;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    linked to the executive officer&#146;s job description and
    direct responsibilities.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    For purposes of the formula contained in the FY2009 Management
    Cash Incentive Compensation Plan, we based the percentage of
    achievement of individual objectives on the degree to which each
    of the objectives is achieved, as determined by the assessments
    and recommendations of our CEO. Any particular individual
    objective that is achieved at less than 90% of the target for
    that objective will be counted as zero, causing the amount that
    has been allocated to the IOP for that objective to be zero and
    reducing the total IOP.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    For fiscal 2009, our compensation committee determined not to
    establish individual objectives for our named executive officers
    other than our new Chief Operating Officer, Mr.&#160;Sowell,
    because it believed that, in general, their cash incentive
    compensation should be based solely on our financial
    performance. In October 2008, our compensation committee, to
    ensure internal equity among executive officers under the plan,
    approved a $50,000 non-plan incentive award to
    Mr.&#160;Troughton that was conditioned upon his success at
    securing a key commercial agreement on acceptable terms and that
    was paid in full in January 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As a managerial decision, in connection with the commencement of
    the employment of our new Chief Operating Officer,
    Mr.&#160;Sowell, our CEO established individual objectives for
    Mr.&#160;Sowell under our FY2009 Management Cash Incentive
    Compensation Plan for the second half of fiscal 2009. The fiscal
    2009 individual objectives of Mr.&#160;Sowell focused on
    operational objectives within his area of responsibility,
    including the re-launch of our Green Dot-branded GPR card,
    integration of PayPal as a network acceptance member and
    developing enterprise processes for coordinating new product
    development and assessing organizational risk. For the last six
    months of fiscal 2009, our CEO determined that Mr.&#160;Sowell
    achieved at least 90% of each of the individual objectives
    contained in his cash incentive award. This resulted in an IOP
    of 91.5%, which under the plan formula resulted in 91.5% of the
    on-target bonus award amount being payable to Mr.&#160;Sowell.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><I>Long-Term Equity-Based Awards</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We utilize equity awards, principally stock options, to ensure
    that our named executive officers have a continuing stake in our
    long-term success. Because we award our executive officers stock
    options with an exercise price equal to or greater than the fair
    market value of our common stock on the date of grant, the
    determination of which is discussed below, these options will
    have value to our named executive officers only if the market
    price of our common stock increases after the date of grant.
    Typically, our stock options vest and become exercisable at a
    rate of 25% of the shares subject to the option on the first
    anniversary of the grant date, with the remainder of the shares
    vesting monthly in equal installments over the next three years.
    Our board of directors believes that these features of the
    awards align the interests of our named executive officers with
    those of the stockholders because they create the incentive to
    build stockholder value over the long-term. In addition, equity
    awards improve our ability to attract and retain our executives
    by providing compensation that is competitive with market levels.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We typically grant stock options to executive officers upon
    hiring or promotion, in connection with a significant change in
    responsibilities, to recognize extraordinary performance, or to
    achieve internal equity. At least annually, our compensation
    committee
    <FONT style="white-space: nowrap">and/or</FONT> our
    board of directors review the equity ownership of our executive
    officers and consider whether to make additional awards.
    Typically, our board of directors determines to make equity
    awards upon the recommendation of our compensation committee. In
    making its recommendation or determination, our compensation
    committee or our board of directors (as applicable) takes into
    account, on a subjective basis, various factors. These factors
    include the responsibilities, past performance and anticipated
    future contributions of the executive officer, and the
    competitiveness of the executive&#146;s overall compensation
    package, as well as the executive officer&#146;s existing equity
    holdings, the extent to which these holdings are vested, the
    potential reward to the executive officer if the market value of
    our common stock appreciates, and the recommendations of our
    CEO. Frequently, the amount of each award is determined with
    reference to a specified percentage of equity ownership in our
    company that is deemed appropriate for the individual, based on
    the foregoing factors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We grant stock options with an exercise price equal to or
    greater than the fair value of our stock on the applicable date
    of grant. During fiscal 2009, our board of directors determined
    the value of our common stock based on the methodologies and
    other relevant factors discussed under &#147;Management&#146;s
    Discussion and Analysis of Financial Condition and Results of
    Operations&#160;&#150; Critical Accounting Policies and
    Estimates&#160;&#150; Stock-Based Compensation.&#148; Upon
    completion of this offering, we expect to determine fair value
    for purposes of stock option pricing based on the closing price
    of our common stock on the NYSE on the date of grant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    During fiscal 2009, our compensation committee reviewed equity
    compensation for the named executive officers and, with input
    from our CEO, determined that it was appropriate to provide
    additional incentive for Messrs.&#160;Keatley and Ricci to help
    us achieve our long-term growth objectives. Accordingly, in
    December 2008, upon the recommendation of our compensation
    committee, our board of directors approved grants of options to
    purchase 225,000 and 100,000&#160;shares of our common stock to
    Messrs.&#160;Keatley and Ricci, respectively, each with an
    exercise price of $10.75 per share. The determination of the
    number of shares of our common stock underlying each stock
    option grant was made with reference to a specified percentage
    of equity ownership in our company based on our compensation
    committee&#146;s recommendation in light of those
    individuals&#146; respective performances, equity ownership and
    level of vesting and the equity positions of our other named
    executive officers. Based on our compensation committee&#146;s
    determination that the February 2008 stock option grants to
    Messrs.&#160;Streit and Troughton were providing them with
    sufficient incentive to help us achieve our long-term growth
    objectives, our compensation committee did not recommend and our
    board of directors did not grant awards of stock options to
    Messrs.&#160;Streit or Troughton in fiscal 2009. However, based
    on our CEO&#146;s recommendation, our compensation committee
    converted the vesting terms of an option to purchase
    400,000&#160;shares of our common stock granted to
    Mr.&#160;Troughton in February 2008 from vesting conditioned
    upon our achievement of annual revenue goals to time-based
    vesting because, in
</DIV>
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    view of our revenue growth during the first eight months of his
    vesting period and other factors, our board of directors
    determined that the performance goals were no longer necessary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In connection with the hiring of Mr.&#160;Sowell in March 2009,
    we negotiated an employment arrangement with him that provided
    for an option to purchase 40,000&#160;shares of our common
    stock, which our compensation committee believed was the level
    of compensation required to attract a qualified candidate and
    retain and provide him with incentives to perform as required
    over the duration of vesting of that award. In March 2009, our
    board of directors approved a grant of options to purchase
    40,000&#160;shares of our common stock to Mr.&#160;Sowell with
    an exercise price of $10.84 per share, pursuant to
    Mr.&#160;Sowell&#146;s employment arrangement. In July 2009, our
    compensation committee recommended that our board of directors
    grant Mr.&#160;Sowell an option to purchase 100,000&#160;shares
    of our common stock with an exercise price of $17.19. Our
    compensation committee made this recommendation based on our
    CEO&#146;s recommendation and in recognition of the fact that
    Mr.&#160;Sowell&#146;s responsibilities within our company were
    greater than originally anticipated, as well as to promote
    internal equity among our named executive officer team. This
    award was granted in August 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In the case of each of the stock option grants described above,
    the exercise price of the stock options equaled 100% of the fair
    value on the date of grant in accordance with the terms of the
    2001 Plan. Each stock option vests and becomes exercisable at a
    rate of 25% of the shares subject to the option on the first
    anniversary of the grant date, with the remainder of the shares
    vesting monthly in equal installments over the next three years.
    Each of these stock options has a ten-year term.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In general, our stock option grants to date have been made under
    our 2001 Stock Plan. We expect to adopt a new equity incentive
    plan. The 2010 Equity Incentive Plan will replace our 2001 Stock
    Plan and will afford greater flexibility in making a wide
    variety of equity awards, including stock options, shares of
    restricted stock and stock appreciation rights, to executive
    officers and our other employees. See &#147;Executive
    Compensation&#160;&#150; Employee Benefit Plans&#148; for
    descriptions of our 2001 Plan and 2010 Equity Incentive Plan.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Severance and
    Change of Control Agreements</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As the result of arm&#146;s-length negotiations in connection
    with the offer letter to Mr.&#160;Sowell and the employment
    agreement we entered into with Mr.&#160;Troughton, we have
    agreed to provide each of them severance benefits if their
    employment is terminated by our company without cause or, in the
    case of Mr.&#160;Troughton, if he is constructively terminated
    as a result of a material diminution in pay or duties. In such
    an event, Mr.&#160;Sowell would be entitled to continued payment
    of his base salary for twelve months and Mr.&#160;Troughton
    would be entitled to continued payment of his base salary for
    six months. The value of our severance arrangements for these
    named executive officers was not a material factor in our
    compensation committee&#146;s or our board of directors&#146;
    determination of the level of any other element of their
    compensation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have routinely granted and will continue to grant our named
    executive officers stock options under our equity incentive
    plans. As further described in &#147;Executive
    Compensation&#160;&#150; Severance and Change of Control
    Agreements&#148; below, some of the option agreements for our
    executive officers provide for acceleration of vesting of the
    awards for up to 100% of the unvested shares in the event of a
    change of control.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Other
    Executive Benefits and Perquisites</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We provide the following benefits to our executive officers on
    the same basis as our other eligible employees:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    health insurance;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    vacation, personal holidays and sick days;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    life insurance and supplemental life insurance;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    short-term and long-term disability;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a 401(k) profit-sharing plan with matching contributions.
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    86
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We believe these benefits are generally consistent with those
    offered by other companies and specifically with those companies
    with which we compete for employees.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In addition to the foregoing, we reimburse
    Mr.&#160;Streit&#146;s cost of insurance premiums under our
    healthcare plans, continuing the benefit we provided him under
    our employment agreement with him that expired in January 2004.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Under the terms of his offer letter, we provide Mr.&#160;Sowell
    with a housing and travel allowance of up to $4,000 per month.
    We believed that this personal benefit was necessary to attract
    and retain Mr.&#160;Sowell, who resides in Texas and was not
    willing to relocate to the Southern California on a full-time
    basis. In the event that Mr.&#160;Sowell terminates his
    employment with us before March&#160;2, 2011, he is required to
    reimburse us for all amounts reimbursed to him under this
    allowance.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Other
    Compensation Practices and Policies</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Stock Ownership Guidelines.</I>&#160;&#160;We do not
    currently have equity securities ownership guidelines.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Tax Considerations.</I>&#160;&#160;Section&#160;162(m) of the
    Internal Revenue Code of 1986, as amended, or the Code,
    disallows a tax deduction for any publicly-held corporation for
    individual compensation exceeding $1.0&#160;million in any
    taxable year for its chief executive officer and each of the
    other named executive officers (other than its chief financial
    officer), unless compensation is performance-based. As we are
    not currently publicly-held, our board of directors has not
    previously taken the deductibility limit imposed by
    Section&#160;162(m) into consideration in setting compensation.
    We expect, however, that our compensation committee will adopt a
    policy that, where reasonably practicable, we will seek to
    qualify the variable compensation paid to our executive officers
    for an exemption from the deductibility limitations of
    Section&#160;162(m). Thus, in approving the amount and form of
    compensation for our executive officers in the future, our
    compensation committee will consider all elements of the cost to
    our company of providing this compensation, including the
    potential impact of Section&#160;162(m). However, our
    compensation committee may, in its judgment, authorize
    compensation payments that do not comply with the exemptions in
    Section&#160;162(m) when it believes these payments are
    appropriate to attract and retain executive talent.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Policy Regarding the Timing of Equity
    Awards.</I>&#160;&#160;Because we are a privately-held company,
    there has been no market for our common stock. Accordingly, in
    fiscal 2009, we had no program, plan or practice pertaining to
    the timing of stock option grants to executive officers relative
    to the timing of the release of material nonpublic information.
    We do not, as of yet, have any plans to implement such a
    program, plan or practice after becoming a public company.
    However, we intend to implement policies to ensure that equity
    awards are granted at fair market value on the date that the
    grant occurs.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Policy Regarding Restatements.</I>&#160;&#160;We do not have
    a formal policy regarding adjustment or recovery of awards or
    payments if the relevant performance measures upon which they
    are based are restated or otherwise adjusted in a manner that
    would reduce the size of the award or payment. Under those
    circumstances, our board of directors or our compensation
    committee would evaluate whether adjustments or recoveries of
    awards were appropriate based upon the facts and circumstances
    surrounding the restatement.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    87
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Executive
    Compensation Tables</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table provides information regarding all plan and
    non-plan compensation awarded to, earned by or paid to our
    principal executive officer, our principal financial officer and
    our three other most highly compensated executive officers
    serving as such at July&#160;31, 2009 for all services rendered
    in all capacities to us during fiscal 2009. We refer to these
    five executive officers as our named executive officers.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Summary
    Compensation Table</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="29%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="12%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="10%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Non-Equity<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Option<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Incentive Plan<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>All Other<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name and Principal Position</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Salary(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Bonus</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Awards(2)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Compensation(3)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Compensation</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Total(4)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Steven W. Streit<BR>
    President and Chief Executive Officer
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    $
</TD>
<TD nowrap align="right" valign="top">
    450,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    $
</TD>
<TD nowrap align="right" valign="top">
    75,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    $
</TD>
<TD nowrap align="right" valign="top">
    3,209
</TD>
<TD nowrap align="left" valign="top">
    (5)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    $
</TD>
<TD nowrap align="right" valign="top">
    528,209
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Mark T. Troughton<BR>
    President, Cards and Network
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    339,231
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    150,000
</TD>
<TD nowrap align="left" valign="top">
    (6)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    489,231
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John L. Keatley<BR>
    Chief Financial Officer
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    289,231
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    1,262,215
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    100,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    1,651,446
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John C. Ricci<BR>
    General Counsel
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    269,615
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    560,985
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    100,000
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    930,600
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William D. Sowell(7)<BR>
    Chief Operating Officer
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    94,904
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    &#151;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    233,055
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    26,051
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    24,176
</TD>
<TD nowrap align="left" valign="top">
    (8)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    378,186
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Effective in October 2008, the following named executive
    officers received an increase in annual base salary to the
    amounts set forth after their names:
    Mr.&#160;Keatley&#160;&#151; $300,000;
    Mr.&#160;Troughton&#160;&#151; $350,000 and
    Mr.&#160;Ricci&#160;&#151; $275,000. Effective in July 2009,
    Mr.&#160;Sowell received an increase in annual base salary to
    $285,000. Effective in January 2010, the following named
    executive officers received an increase in annual base salary to
    the amounts set forth after their names:
    Mr.&#160;Streit&#160;&#151; $525,000;
    Mr.&#160;Troughton&#160;&#151; $475,000;
    Mr.&#160;Keatley&#160;&#151; $425,000; and
    Mr.&#160;Ricci&#160;&#151; $350,000.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    The amounts in this column represent the grant date fair values
    for equity awards granted to the named executive officers for
    fiscal 2009 as discussed in note&#160;11 of our notes to
    consolidated financial statements included elsewhere in this
    prospectus. See the &#147;Fiscal 2009 Grants of Plan-Based
    Awards&#148; table for information on stock option grants made
    in fiscal 2009. These amounts reflect our stock-based
    compensation expense for these awards, and do not correspond to
    the actual value that may be recognized by the named executive
    officers.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    The amounts in this column represent total performance-based
    bonuses under our FY2009 Management Cash Incentive Compensation
    Plan earned for services rendered in fiscal 2009.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    The amounts in this column represent the sum of the compensation
    amounts reflected in the other columns of this table.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents a health insurance premium paid on behalf of
    Mr.&#160;Streit.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (6) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes a $50,000 incentive bonus awarded in January 2009 for
    Mr.&#160;Troughton&#146;s success at securing a key commercial
    agreement on acceptable terms. This bonus was not awarded under
    our FY2009 Management Cash Incentive Compensation Plan.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (7) </TD>
    <TD></TD>
    <TD valign="bottom">
    Mr.&#160;Sowell joined our company in March 2009 and his
    compensation represents the amount earned from that date through
    the end of fiscal 2009.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (8) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents perquisites and personal benefits received in fiscal
    2009 pursuant to Mr.&#160;Sowell&#146;s housing and travel
    allowance.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In December 2008, we amended an option to purchase
    400,000&#160;shares of our common stock that was granted to
    Mr.&#160;Troughton in February 2008 to change the terms of
    vesting from performance-
</DIV>
<!-- XBRL Paragraph Pagebreak -->
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    88
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    based to time-based vesting. See &#147;&#150;&#160;Compensation
    Discussion and Analysis&#150;&#160;Long-Term
    <FONT style="white-space: nowrap">Equity-Based</FONT>
    Awards&#148; above for further discussion of this award.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Following July&#160;31, 2009, we awarded options to purchase
    shares of our Class&#160;B common stock to the following
    executive officers on the grant dates, in the amounts and with
    the exercise prices, grant date fair values and expiration dates
    set forth opposite their names:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="43%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Number of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Shares<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Option<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Option<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Underlying<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Exercise<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Grant Date<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Expiration<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Grant Date</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Options</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Price</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fair Value</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Date</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Steven W. Streit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11/02/09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    400,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    20.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,788
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11/02/19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Mark T. Troughton
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11/02/09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    200,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,894
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11/02/19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John L. Keatley
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11/02/09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    150,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,421
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11/02/19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John C. Ricci
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11/02/09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    947
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11/02/19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William D. Sowell
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    08/03/09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    962
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    08/03/19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    These options were granted under our 2001 Stock Plan and vest as
    to 25% of the shares of common stock underlying the option on
    the first anniversary of the vesting commencement date, with the
    remainder vesting monthly in equal installments over the next
    three years.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In December 2009, our board of directors awarded
    257,984&#160;shares of common stock to Mr.&#160;Streit to
    compensate him for past services rendered to our company. The
    number of shares awarded was equal to the number of fully-vested
    stock options that were unintentionally allowed to expire
    unexercised in June 2009. The aggregate grant date fair value of
    the December 2009 award was approximately $5.2&#160;million,
    based on an estimated fair value of our common stock of $20.01,
    as determined by our board of directors on the date of the award.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table provides information with regard to
    potential cash bonuses paid or payable in fiscal 2009 under our
    performance-based, non-equity incentive plan, and with regard to
    each stock option granted to a named executive officer during
    fiscal 2009. There were no &#147;equity incentive plan
    awards&#148; made in fiscal 2009.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Fiscal 2009
    Grants of Plan-Based Awards</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="29%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Number of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Shares<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Exercise<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" nowrap align="center" valign="bottom">
    <B>Estimated Possible Payouts Under<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Underlying<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Price of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Grant<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Non-Equity Incentive Plan Awards</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Option<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Option<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Date</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Threshold</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Target</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Maximum</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Awards(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Awards(2)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Steven W. Streit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    37,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    75,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    75,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Mark T. Troughton
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John L. Keatley
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12/11/08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    225,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10.75
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John C. Ricci
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12/11/08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.75
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William D. Sowell
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3
</TD>
<TD nowrap align="left" valign="bottom">
    )(5)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,325
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,708
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,708
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    03/19/09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.84
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    These option awards vest as to 25% of the shares of common stock
    underlying the option on the first anniversary of the vesting
    commencement date, with the remainder of the shares vesting
    monthly in equal installments over the next three years. All
    options were granted under our 2001 Stock Plan, which is
    described below under &#147;&#150;&#160;Employee Benefit
    Plans,&#148; and contain provisions that call for accelerated
    vesting upon certain events following a change of control event,
    as discussed above in &#147;&#150;&#160;Compensation Discussion
    and Analysis&#148; and below in &#147;&#150;&#160;Severance and
    Change of Control Agreements.&#148;</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    89
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents the fair market value of a share of our common stock,
    as determined by our board of directors, on the option&#146;s
    grant date. Please see &#147;Management&#146;s Discussion and
    Analysis of Financial Condition and Results of
    Operations&#160;&#150; Critical Accounting Policies and
    Estimates&#160;&#150;
    <FONT style="white-space: nowrap">Stock-Based</FONT>
    Compensation&#148; above for a discussion of how we have valued
    our common stock.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    These rows represent possible cash incentive awards under our
    FY2009 Management Cash Incentive Compensation Plan upon our
    achievement of corporate profit goals. Actual awards are only
    payable if the corporate objectives (i.e., PBT targets) are
    achieved at a level of 90%. Actual awards cannot exceed 100% of
    the target amount and are adjusted downward in the event
    corporate objectives are achieved at a level between 90% and
    100% by subtracting the actual percentage achievement from 100%,
    multiplying that percentage by 5 and subtracting the resulting
    percentage from 100%, which is then multiplied against the
    target bonus amount. Bonuses were paid on a semi-annual basis.
    See &#147;&#150;&#160;Compensation Discussion and Analysis&#148;
    above for further discussion of these awards.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents a cash incentive award conditioned upon
    Mr.&#160;Troughton&#146;s success at securing a key commercial
    agreement on acceptable terms. See
    &#147;&#150;&#160;Compensation Discussion and Analysis&#148;
    above for additional information regarding this award.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    Mr.&#160;Sowell&#146;s award under our FY2009 Management Cash
    Incentive Compensation Plan was also based on individual
    objectives intended to promote achievement of non-financial
    operational goals within his area of responsibility, as further
    discussed in &#147;&#150;&#160;Compensation Discussion and
    Analysis&#148; above, including the launch of the new Green
    Dot-branded GPR card, integration of PayPal as a network
    acceptance member and developing enterprise processes for
    coordinating new product development and assessing
    organizational risk.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table provides information regarding each
    unexercised stock option held by our named executive officers as
    of July&#160;31, 2009.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Outstanding
    Equity Awards at July&#160;31, 2009</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="51%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="10%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Option<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Option<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Number of Securities Underlying Unexercised Options(1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Exercise<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Expiration<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Exercisable</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Unexercisable</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Price(2)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Date</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Steven W. Streit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    536,602
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6/05/14
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    95,833
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    104,167
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.64
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2/12/18
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Mark T. Troughton
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    109,375
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    43,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1/17/16
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    215,625
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    234,375
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.64
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2/12/18
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John L. Keatley
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,375
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9/15/14
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,125
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8/22/15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,709
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1/17/16
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,166
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,375
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4/24/16
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    143,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    156,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.64
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2/12/18
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    225,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.75
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12/9/18
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John C. Ricci
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    69,412
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.83
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4/25/13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    218,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1/17/16
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    59,895
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65,105
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.64
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2/12/18
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.75
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12/9/18
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="color: #000000; background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William D. Sowell
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.84
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3/17/19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    All options vest as to 25% of the shares of common stock
    underlying the option on the first anniversary of the vesting
    commencement date, with the remainder of the shares vesting
    monthly in equal installments over the next three years.</TD>
</TR>

</TABLE>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    90
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents the fair market value of a share of our common stock,
    as determined by our board of directors, on the option&#146;s
    grant date. Please see &#147;Management&#146;s Discussion and
    Analysis of Financial Condition and Results of
    Operations&#160;&#151; Critical Accounting Policies and
    Estimates&#160;&#151; Stock-Based Compensation&#148; for a
    discussion of how we have valued our common stock.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    No shares were acquired pursuant to the exercise of options by
    our named executive officers during fiscal 2009.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Employment
    Agreements, Offer Letters and Arrangements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Steven W. Streit.</I>&#160;&#160;Mr.&#160;Streit&#146;s
    current annual salary is $525,000, and his maximum bonus under
    our FY2010 Management Cash Incentive Compensation Plan is
    $75,000.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Mark T. Troughton.</I>&#160;&#160;Our employment agreement
    with Mr.&#160;Troughton, dated July&#160;30, 2004, provides for
    an initial annual salary, eligibility for standard benefits and
    bonus programs and company sponsorship of an application for a
    green card. Mr.&#160;Troughton&#146;s current annual salary is
    $475,000, and his maximum bonus under our FY2010 Management Cash
    Incentive Compensation Plan is $100,000. This employment
    agreement continues until it is terminated by Mr.&#160;Troughton
    or us, and Mr.&#160;Troughton is required to provide
    180&#160;days&#146; written notice of his termination. As
    discussed in &#147;&#160;&#150; Severance and Change of Control
    Agreements,&#148; if we terminate Mr.&#160;Troughton without
    cause (as defined in his agreement) or Mr.&#160;Troughton
    terminates his employment for good reason (as defined in his
    agreement), we have agreed to pay him six months of his
    then-current salary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>John L. Keatley.</I>&#160;&#160;Mr.&#160;Keatley&#146;s
    current annual salary is $425,000, and his maximum bonus under
    our FY2010 Management Cash Incentive Compensation Plan is
    $100,000. Mr.&#160;Keatley&#146;s employment is at will and may
    be terminated at any time, with or without formal cause.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>John C. Ricci.</I>&#160;&#160;Mr.&#160;Ricci&#146;s current
    annual salary is $350,000, and his maximum bonus under our
    FY2010 Management Cash Incentive Compensation Plan is $100,000.
    Mr.&#160;Ricci&#146;s employment is at will and may be
    terminated at any time, with or without formal cause.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>William D. Sowell.</I>&#160;&#160;Our offer letter to
    Mr.&#160;Sowell, dated January&#160;28, 2009, provides for an
    initial annual salary and eligibility for our standard benefits
    and bonus programs. Pursuant to the offer letter,
    Mr.&#160;Sowell also received an option to purchase
    40,000&#160;shares of our common stock with an exercise price
    equal to the fair market value of our common stock on the date
    of grant. Mr.&#160;Sowell&#146;s current annual salary is
    $285,000, and his maximum bonus under our FY2010 Management Cash
    Incentive Compensation Plan is 40% of his base salary. In
    addition, we have agreed to provide Mr.&#160;Sowell with a
    housing and travel allowance of up to $4,000 per month for
    housing and travel expenses. In the event that Mr.&#160;Sowell
    terminates his employment with us before March&#160;2, 2011, he
    will be required to reimburse us for the cumulative amounts
    advanced to him in connection with this allowance.
    Mr.&#160;Sowell&#146;s employment is at will and may be
    terminated at any time, with or without formal cause. As
    discussed in &#147;&#150;&#160;Severance and Change of Control
    Agreements,&#148; if we terminate Mr.&#160;Sowell&#146;s
    employment without cause (as defined in his offer letter), we
    have agreed to pay him twelve months of his then-current salary.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Severance and
    Change of Control Agreements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Mark T. Troughton&#146;s Severance
    Arrangement.</I>&#160;&#160;Under our employment agreement with
    Mr.&#160;Troughton discussed above, we have agreed to pay him
    six months of his then-current salary if we terminate him
    without cause (as defined in his agreement) or he terminates his
    employment for good reason (as defined in his agreement).
    Assuming a qualifying termination as of July&#160;31, 2009,
    Mr.&#160;Troughton would have been entitled to receive $175,000
    pursuant to his agreement with us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>William D. Sowell&#146;s Severance
    Arrangement.</I>&#160;&#160;Under our offer letter with
    Mr.&#160;Sowell discussed above, we have agreed to pay him
    twelve months of his then-current salary if we terminate him
    without cause (as defined in his agreement). Assuming a
    qualifying termination as of July&#160;31, 2009, Mr.&#160;Sowell
    would have been entitled to receive $285,000 pursuant to his
    offer letter.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Change in Control Arrangements.</I>&#160;&#160;Certain option
    agreements for the executive officers listed in the table below
    provide for full vesting of the awards of the unvested shares in
    the event of a change
</DIV>
<!-- XBRL Paragraph Pagebreak -->
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    91
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    in control. The following table summarizes the value of the
    payouts to these executive officers pursuant to these awards,
    assuming a qualifying termination as of July&#160;31, 2009.
    Values are based upon the per share market price of the shares
    of our common stock underlying options as of July&#160;31, 2009,
    which is assumed to be the midpoint of the price range set forth
    on the cover page of this prospectus minus the exercise price:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="85%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Accelerated<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Stock Options</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Steven W. Streit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Mark T. Troughton
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John L. Keatley
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    John C. Ricci
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William D. Sowell
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Employee Benefit
    Plans</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">2001 Stock
    Plan</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our board of directors adopted, and our stockholders approved,
    our 2001 Stock Plan in January 2001. The 2001 Stock Plan was
    amended and restated in February 2008. The 2001 Stock Plan
    provides for the grant of both incentive stock options, which
    qualify for favorable tax treatment to their recipients under
    Section&#160;422 of the Code and nonstatutory stock options, as
    well as for the issuance of shares of restricted stock. We may
    grant incentive stock options only to our employees. We may
    grant nonstatutory stock options to our employees, directors,
    consultants, independent contractors and advisors. The exercise
    price of each stock option must be at least equal to the fair
    market value of our common stock on the date of grant. The
    exercise price of incentive stock options granted to 10%
    stockholders must be at least equal to 110% of the fair market
    value of our common stock on the date of grant. The maximum
    permitted term of options granted under our 2001 Stock Plan is
    ten years. In the event of a &#147;change in control,&#148; as
    defined in the 2001 Stock Plan, the 2001 Stock Plan provides
    that, unless the applicable option agreement provides otherwise,
    options held by current employees, directors and consultants
    will vest in full if they are not assumed or substituted or if
    the employee, director or consultant is involuntarily terminated
    within six months of the change in control.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As of October&#160;31, 2009, we had reserved
    9,943,134&#160;shares of our common stock for issuance under our
    2001 Stock Plan. As of October&#160;31, 2009, options to
    purchase 4,489,536 of these shares had been exercised, options
    to purchase 4,963,547 of these shares remained outstanding and
    443,075 of these shares remained available for future grant. In
    addition, we had granted restricted stock awards for
    46,985&#160;shares of common stock. The options outstanding as
    of October&#160;31, 2009 had a weighted average exercise price
    of $4.25. Our 2010 Equity Incentive Plan will be effective upon
    the date of this prospectus. As a result, we will not grant any
    additional options under the 2001 Stock Plan following that date
    and the 2001 Stock Plan will terminate. However, any outstanding
    options granted under the 2001 Stock Plan will remain
    outstanding, subject to the terms of our 2001 Stock Plan and
    stock option agreements, until they are exercised or until they
    terminate or expire by their terms. Options granted under the
    2001 Stock Plan have terms similar to those described below with
    respect to options granted under our 2010 Equity Incentive Plan,
    except
    that&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">2010 Equity
    Incentive Plan</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We anticipate that we will adopt a 2010 Equity Incentive Plan
    that will become effective on the date of this prospectus and
    will serve as the successor to our 2001 Stock Plan. We
    anticipate that we will
    reserve&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our common stock to be issued under our 2010 Equity Incentive
    Plan. In addition, the following shares will again be available
    for grant and issuance under our 2010 Equity Incentive Plan:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    shares subject to options granted under our 2010 Equity
    Incentive Plan that cease to be subject to the option for any
    reason other than exercise of the option;
</TD>
</TR>

</TABLE>
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    <BR>
    92
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    shares subject to awards granted under our 2010 Equity Incentive
    Plan that are subsequently forfeited or repurchased by us at the
    original issue price;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    shares subject to awards granted under our 2010 Equity Incentive
    Plan that otherwise terminate without shares being issued.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We anticipate that our 2010 Equity Incentive Plan will terminate
    ten years from the date our board of directors approves the
    plan, unless it is terminated earlier by our board of directors.
    Our 2010 Equity Incentive Plan authorizes the award of stock
    options, restricted stock awards, stock appreciation rights,
    restricted stock units and stock bonuses. No person will be
    eligible to receive more
    than&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    in any calendar year under our 2010 Equity Incentive Plan other
    than a new employee of ours, who will be eligible to receive no
    more
    than&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    under the plan in the calendar year in which the employee
    commences employment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our 2010 Equity Incentive Plan will be administered by our
    compensation committee, all of the members of which are
    non-employee directors under applicable federal securities laws
    and outside directors as defined under applicable federal tax
    laws. The compensation committee will have the authority to
    construe and interpret our 2010 Equity Incentive Plan, grant
    awards and make all other determinations necessary or advisable
    for the administration of the plan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We anticipate that our 2010 Equity Incentive Plan will provide
    for the grant of incentive stock options that qualify under
    Section&#160;422 of the Code only to our employees. All awards
    other than incentive stock options may be granted to our
    employees, directors, consultants, independent contractors and
    advisors, provided the consultants, independent contractors and
    advisors render services not in connection with the offer and
    sale of securities in a capital-raising transaction. The
    exercise price of stock options must be at least equal to the
    fair market value of our common stock on the date of grant. The
    exercise price of incentive stock options granted to 10%
    stockholders must be at least equal to 110% of that value.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our compensation committee may provide for options to be
    exercised only as they vest or to be immediately exercisable
    with any shares issued on exercise being subject to our right of
    repurchase that lapses as the shares vest. In general, options
    will vest over a four-year period. The maximum term of options
    granted under our 2010 Equity Incentive Plan is ten years.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    A restricted stock award is an offer by us to sell shares of our
    common stock subject to restrictions. The price (if any) of a
    restricted stock award will be determined by the compensation
    committee. Unless otherwise determined by the compensation
    committee at the time of award, vesting will cease on the date
    the participant no longer provides services to us and unvested
    shares will be forfeited to us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Stock appreciation rights provide for a payment, or payments, in
    cash or shares of our common stock, to the holder based upon the
    difference between the fair market value of our common stock on
    the date of exercise and the stated exercise price up to a
    maximum amount of cash or number of shares. Stock appreciation
    rights may vest based on time or achievement of performance
    conditions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Restricted stock units represent the right to receive shares of
    our common stock at a specified date in the future, subject to
    forfeiture of that right because of termination of employment or
    failure to achieve certain performance conditions. If a
    restricted stock unit has not been forfeited, then on the date
    specified in the restricted stock unit agreement, we will
    deliver to the holder of the restricted stock unit whole shares
    of our common stock (which may be subject to additional
    restrictions), cash or a combination of our common stock and
    cash.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Stock bonuses may be granted as additional compensation for
    service and/ or performance, and therefore, not be issued in
    exchange for cash.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Awards granted under our 2010 Equity Incentive Plan may not be
    transferred in any manner other than by will or by the laws of
    descent and distribution or as determined by our compensation
    committee. Unless otherwise restricted by our compensation
    committee, awards that are nonstatutory stock options may be
    exercised during the lifetime of the optionee only by the
    optionee, the optionee&#146;s guardian or legal representative,
    or a family member of the optionee who has acquired the option
    by a
</DIV>
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    <BR>
    93
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    permitted transfer. Awards that are incentive stock options may
    be exercised during the lifetime of the optionee only by the
    optionee or the optionee&#146;s guardian or legal
    representative. Options granted under our 2010 Equity Incentive
    Plan generally may be exercised for a period of three months
    after the termination of the optionee&#146;s service to us.
    Options will generally terminate immediately upon termination of
    employment for cause.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    If we are dissolved or liquidated or have a change in control
    transaction, outstanding awards, including any vesting
    provisions, may be assumed or substituted by the successor
    company. Outstanding awards that are not assumed or substituted
    will expire upon the dissolution, liquidation or closing of a
    change in control transaction. In the discretion of our
    compensation committee, the vesting of these awards may be
    accelerated upon the occurrence of these types of transactions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">401(k)
    Plan</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We sponsor a retirement plan intended to qualify for favorable
    tax treatment under Section&#160;401(k) of the Code. Employees
    who have attained at least 21&#160;years of age are generally
    eligible to participate in the plan on the first day of the
    calendar month following the month in which employees commence
    service with us. Participants may make pre-tax contributions to
    the plan from their eligible earnings up to the statutorily
    prescribed annual limit on pre-tax contributions under the Code.
    Participants who are 50&#160;years of age or older may
    contribute additional amounts based on the statutory limits for
    <FONT style="white-space: nowrap">catch-up</FONT>
    contributions. We also make a matching contribution equal to 50%
    of the first 6% of the eligible earnings that a participant
    contributes to the plan. Pre-tax contributions by participants
    and any employer contributions that we make to the plan and the
    income earned on those contributions are generally not taxable
    to participants until withdrawn. Employer contributions that we
    make to the plan are generally deductible when made. Participant
    contributions are held in trust as required by law. No minimum
    benefit is provided under the plan. An employee&#146;s interest
    in his or her pre-tax deferrals is 100% vested when contributed.
    We are permitted to contribute to the plan on a discretionary
    basis and did contribute $73,000, $8,000 and $58,000 for the
    years ended July&#160;31, 2007, 2008 and 2009, respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Limitation of
    Liability and Indemnification of Directors and
    Officers</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our restated certificate of incorporation contains provisions
    that limit the liability of our directors for monetary damages
    to the fullest extent permitted by Delaware law. Consequently,
    our directors will not be personally liable to us or our
    stockholders for monetary damages for any breach of fiduciary
    duties as directors, except for liability:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for any breach of their duty of loyalty to our company or our
    stockholders;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for any act or omission not in good faith or that involves
    intentional misconduct or a knowing violation of law;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    unlawful payments of dividends or unlawful stock repurchases or
    redemptions as provided in Section&#160;174 of the Delaware
    General Corporation Law;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for any transaction from which they derived an improper personal
    benefit.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our restated bylaws provide that we will indemnify, to the
    fullest extent permitted by law, any person who is or was a
    party or is threatened to be made a party to any action, suit or
    proceeding by reason of the fact that he or she is or was one of
    our directors or officers or is or was serving at our request as
    a director or officer of another corporation, partnership, joint
    venture, trust or other enterprise. Our restated bylaws provide
    that we may indemnify to the fullest extent permitted by law any
    person who is or was a party or is threatened to be made a party
    to any action, suit or proceeding by reason of the fact that he
    or she is or was one of our employees or agents or is or was
    serving at our request as an employee or agent of another
    corporation, partnership, joint venture, trust or other
    enterprise. Our restated bylaws also provide that we must
    advance expenses incurred by or on behalf of a director or
    officer in advance of the final disposition of any action or
    proceeding, subject to very limited exceptions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have obtained insurance policies under which, subject to the
    limitations of the policies, coverage is provided to our
    directors and officers against loss arising from claims made by
    reason of
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    breach of fiduciary duty or other wrongful acts as a director or
    officer, including claims relating to public securities matters,
    and to us with respect to payments that may be made by us to
    these officers and directors pursuant to our indemnification
    obligations or otherwise as a matter of law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Prior to completion of this offering, we intend to enter into
    indemnification agreements with each of our directors and
    executive officers that may be broader than the specific
    indemnification provisions contained in the Delaware General
    Corporation Law. These indemnification agreements may require
    us, among other things, to indemnify our directors and executive
    officers against liabilities that may arise by reason of their
    status or service. These indemnification agreements may also
    require us to advance all expenses incurred by the directors and
    executive officers in investigating or defending any such
    action, suit or proceeding. We believe that these agreements are
    necessary to attract and retain qualified individuals to serve
    as directors and executive officers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    At present, we are not aware of any pending litigation or
    proceeding involving any person who is or was one of our
    directors, officers, employees or other agents or is or was
    serving at our request as a director, officer, employee or agent
    of another corporation, partnership, joint venture, trust or
    other enterprise, for which indemnification is sought, and we
    are not aware of any threatened litigation that may result in
    claims for indemnification.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The underwriting agreement provides for indemnification by the
    underwriters of us and our officers, directors and employees for
    certain liabilities arising under the Securities Act or
    otherwise.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Insofar as indemnification for liabilities arising under the
    Securities Act may be permitted to directors, officers or
    persons controlling our company pursuant to the foregoing
    provisions, we have been informed that, in the opinion of the
    SEC, such indemnification is against public policy as expressed
    in the Securities Act and is therefore unenforceable.
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='114'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">TRANSACTIONS WITH
    RELATED PARTIES, FOUNDERS AND CONTROL PERSONS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In addition to the compensation arrangements, including
    employment, termination of employment and
    <FONT style="white-space: nowrap">change-in-control</FONT>
    arrangements and indemnification arrangements, discussed, when
    required, above under &#147;Management&#148; and &#147;Executive
    Compensation,&#148; and the registration rights described below
    under &#147;Description of Capital stock&#160;&#150;
    Registration Rights,&#148; the following is a description of
    each transaction since August&#160;1, 2006 and each currently
    proposed transaction in which:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    we have been or are to be a participant;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the amount involved exceeded or exceeds $120,000;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any of our directors, executive officers or holders of more than
    5% of our capital stock, or any immediate family member of or
    person sharing the household with any of these individuals, had
    or will have a direct or indirect material interest.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Repurchase of
    Common and Preferred Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In January 2007, we repurchased 2,926,458&#160;shares of our
    capital stock for $6.8342 per share, or an aggregate of
    $20.0&#160;million. As part of this transaction, we repurchased
    shares of our common stock from certain of our directors,
    executive officers and holders of more than 5% of our capital
    stock, as follows: Steven W. Streit&#160;&#150;
    1,359,892&#160;shares; TTP Fund, L.P.&#160;&#150;
    199,711&#160;shares; Mark T. Troughton&#160;&#150;
    48,483&#160;shares; and John&#160;C.&#160;Ricci&#160;&#150;
    5,294&#160;shares. In addition, Kenneth C. Aldrich donated
    36,115&#160;shares of our common stock to a charitable
    organization, which were repurchased by us in connection with
    the January 2007 repurchase transaction.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica"><FONT style="white-space: nowrap">Series&#160;C-2</FONT>
    Preferred Stock Financing</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In December 2008, we issued and sold 1,181,818&#160;shares of
    <FONT style="white-space: nowrap">Series&#160;C-2</FONT>
    Preferred Stock for $11.00 per share, or $13.0&#160;million. All
    shares in the financing were sold to entities affiliated with
    Sequoia Capital, a holder of more than 5% of our capital stock,
    as follows: Sequoia Capital Franchise Fund&#160;&#150;
    775,774&#160;shares, Sequoia Capital IX.1 Holdings
    LLC&#160;&#150; 288,247&#160;shares, Sequoia Capital Franchise
    Partners&#160;&#150; 105,787&#160;shares and Sequoia Capital
    Entrepreneurs Annex&#160;Fund&#160;&#150; 12,010&#160;shares.
    Each of the shares of
    <FONT style="white-space: nowrap">Series&#160;C-2</FONT>
    Preferred Stock will automatically convert into one share of our
    Class&#160;B common stock immediately prior to the closing of
    this offering. The proceeds from this offering were used to
    repurchase a portion of our Series&#160;D Preferred Stock.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Series&#160;D
    Preferred Stock Repurchase</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In December 2008, we repurchased all of our 2,926,458
    outstanding shares of Series&#160;D Preferred Stock from GE
    Capital Equity Investments, Inc., then a holder of more than 5%
    of our capital stock and an affiliate of Michael S. Fisher, a
    former member of our board of directors, for $13.38 per share,
    or approximately $39.2&#160;million. As part of this
    transaction, we also purchased a call option that gave us the
    right to repurchase from GE Capital Equity Investments, Inc. an
    outstanding warrant to purchase 500,000&#160;shares of our
    common stock. This call option was exercisable at any time
    between March&#160;1, 2009 and September&#160;1, 2009. In June
    2009, we exercised the call option and repurchased the warrant
    for $2.0&#160;million.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Warrant
    Exercises</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In November 2006, Donald B. Wiener, a former member of our board
    of directors, exercised warrants to purchase 224,132&#160;shares
    of our Class&#160;B common stock for his own account and on
    behalf of a number of individuals who have appointed him to be
    their attorney-in-fact with respect to certain matters related
    to interests in our capital stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In March 2007, David W. Hanna, Trustee, David William Hanna
    Trust dated October&#160;30, 1989, exercised warrants to
    purchase 145,348&#160;shares of our Class&#160;B common stock.
    Mr.&#160;Hanna is the spouse of Virginia L. Hanna, a member of
    our board of directors.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    96
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Loans to
    Executive Officers</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In March 2004 and February 2006, we loaned $3.0&#160;million and
    $800,000, respectively, to Steven W. Streit, our Chairman,
    President and Chief Executive Officer. These loans bore interest
    at rates of 3.5% and 4.5%, respectively, compounded
    semi-annually, and would have matured in March 2011. The notes
    were secured by 2,500,000&#160;shares of our common stock owned
    by Mr.&#160;Streit. In November 2009, Mr.&#160;Streit repaid in
    full the principal and all accrued interest under these notes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In May 2006, we loaned $622,000 to Mark T. Troughton, our
    President, Cards and Network, and monthly from June 2006 through
    October 2006, we loaned him $17,800. In May 2008, we loaned him
    an additional $364,000. These loans, aggregating
    $1.1&#160;million, bore interest at rates of 2.72% to 5.14%,
    compounded annually, and would have matured in May 2013. They
    were secured by 898,000&#160;shares of our common stock owned by
    Mr.&#160;Troughton. In November 2009, Mr.&#160;Troughton repaid
    in full the principal and all accrued interest under this note.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In February 2008, we loaned $120,000 to John L. Keatley, our
    Chief Financial Officer. This loan bore interest at the rate of
    3.48%, compounded semi-annually, and would have matured in
    February 2015. It was secured by 85,000&#160;shares of our
    common stock. In November 2009, Mr.&#160;Keatley repaid in full
    the principal and all accrued interest under this note.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Review, Approval
    or Ratification of Transactions with Related Parties</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our policy and the charters of the nominating and governance
    committee and the audit committee adopted by our board of
    directors
    on&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2010 require that any transaction with a related party that must
    be reported under applicable rules of the SEC (other than
    compensation-related matters) must be reviewed and approved or
    ratified by the nominating and governance committee, unless the
    related party is, or is associated with, a member of that
    committee, in which event the transaction must be reviewed and
    approved by the audit committee. These committees have not
    adopted policies or procedures for review of, or standards for
    approval of, related party transactions.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    97
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='115'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">PRINCIPAL AND
    SELLING STOCKHOLDERS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table presents information as to the beneficial
    ownership of our common stock as of February&#160;22, 2010, and
    as adjusted to reflect our sale of Class&#160;A common stock in
    this offering assuming no exercise of the underwriters&#146;
    option to purchase additional shares, by:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each stockholder known by us to be the beneficial owner of more
    than 5% of our common stock;
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each of our directors;
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each of our named executive officers;
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    all of our directors and executive officers as a group;&#160;and
</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each selling stockholder.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Beneficial ownership is determined in accordance with the rules
    of the SEC and thus represents sole or shared voting or
    investment power with respect to our securities. Unless
    otherwise indicated below, to our knowledge, the persons and
    entities named in the table have sole voting and sole investment
    power with respect to all shares that they beneficially owned,
    subject to community property laws where applicable. Shares of
    our common stock subject to options or warrants that are
    currently exercisable or exercisable within 60&#160;days of
    February&#160;22, 2010 are deemed to be outstanding and to be
    beneficially owned by the person holding the option or warrant
    for the purpose of computing the percentage ownership of that
    person but are not treated as outstanding for the purpose of
    computing the percentage ownership of any other person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Percentage ownership of our common stock before this offering is
    based on 37,017,459&#160;shares of our Class&#160;B common stock
    outstanding on February&#160;22, 2010, which includes
    24,941,521&#160;shares of common stock resulting from the
    automatic conversion of all outstanding shares of our preferred
    stock upon the completion of this offering, as if this
    conversion had occurred as of February&#160;22, 2010. Percentage
    ownership of our Class&#160;A and Class&#160;B common stock
    after the offering also assumes our sale
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of Class&#160;A common stock by us and the automatic conversion
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    Class&#160;B common stock
    into&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of Class&#160;A common stock in connection with and immediately
    prior to the sale of such shares in this offering. Unless
    otherwise indicated, the address of each of the individuals and
    entities named below is
    <FONT style="white-space: nowrap">c/o&#160;Green</FONT>
    Dot Corporation, 605 East Huntington Drive, Suite&#160;205,
    Monrovia, California 91016.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="44%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=09 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=09 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=09 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=09 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Shares Beneficially<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Shares Beneficially Owned Prior to<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Owned after<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>the Offering</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Shares of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>the Offering</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Class B<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Class A<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Class A<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Class B<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>% Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Common Stock</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Common Stock<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Common Stock</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Common Stock</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Voting<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name and Address of Beneficial Owner</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%&#134;</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Being Offered</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%&#134;&#134;</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%&#134;&#134;</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Power&#134;&#134;&#134;</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Sequoia Capital(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,099,373
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Michael J. Moritz
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Steven W. Streit(2)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,011,521
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    TTP Fund, L.P.(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,106,783
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    W. Thomas Smith Jr.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Mark T. Troughton(4)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,191,991
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Virginia L. Hanna(5)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,176,790
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Timothy R. Greenleaf(6)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    580,879
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    YKA Partners Ltd.(7)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    400,630
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Kenneth C. Aldrich
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    John C. Ricci(8)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    384,244
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    John L. Keatley(9)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    345,708
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    William D. Sowell(10)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,833
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    William H. Ott, Jr.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    All directors and executive officers as a group
    (11&#160;persons)(11)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,308,752
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Other selling stockholders(12)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    *&#160;</TD>
    <TD></TD>
    <TD valign="bottom">
    Represents beneficial ownership of less than 1% of our
    outstanding shares of common stock.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    98
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    **&#160;</TD>
    <TD></TD>
    <TD valign="bottom">
    The shares of Class&#160;A common stock being offered will be
    acquired through the exercise of options at the closing of the
    offering, and thus the number of shares shown in the footnotes
    as being subject to options will be reduced by the same number
    after the offering.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    &#134;&#160;</TD>
    <TD></TD>
    <TD valign="bottom">
    Each share of Class&#160;B common stock is immediately
    convertible into one share of Class&#160;A common stock. As of
    February&#160;22, 2010, there were no shares of Class&#160;A
    common stock outstanding. Accordingly, as of February&#160;22,
    2010, the percentage of Class&#160;B shares beneficially owned
    by each person is equal to both the total beneficial ownership
    percentage and the percentage of total voting power.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    &#134;&#134; </TD>
    <TD></TD>
    <TD valign="bottom">
    Each share of Class&#160;B common stock is immediately
    convertible into one share of Class&#160;A common stock.
    Accordingly, for the purpose of computing the percentage of
    Class&#160;A shares beneficially owned by each person who holds
    Class&#160;B common stock after the offering, each share of
    Class&#160;B common stock is deemed to have been converted into
    a share of Class&#160;A common stock, but such shares of
    Class&#160;B common stock are not deemed to have been converted
    into Class&#160;A common stock for the purpose of computing the
    percentage ownership of any other person.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    &#134;&#134;&#134; </TD>
    <TD></TD>
    <TD valign="bottom">
    Holders of Class&#160;A common stock are entitled to one vote
    per share and holders of Class&#160;B common stock are entitled
    to ten votes per share. Holders of common stock vote together as
    a single class on all matters submitted to a vote of
    stockholders, unless otherwise required by law. For the purpose
    of computing the percentage of total voting power after the
    offering, each share of Class&#160;B common stock is deemed not
    to have been converted into a share of Class&#160;A common
    stock, and thus represents 10 votes per share.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents 7,778,099&#160;shares owned by Sequoia Capital
    Franchise Fund, 1,850,387&#160;shares owned by Sequoia Capital
    IX, 1,246,945&#160;shares owned by Sequoia Capital US Growth
    Fund&#160;IV, L.P., 1,060,650&#160;shares owned by Sequoia
    Capital Franchise Partners and 163,292&#160;shares owned by
    Sequoia Capital Entrepreneurs Annex&#160;Fund. SCFF Management,
    LLC is the sole general partner of Sequoia Capital Franchise
    Fund and Sequoia Capital Franchise Partners. SCIX Management,
    LLC is the sole general partner of Sequoia Capital IX and
    Sequoia Capital Entrepreneurs Annex Fund. SCGF IV Management, LP
    (Cayman) is the mid-tier general partner and SCGF GenPar, Ltd.
    (Cayman) is the top tier general partner of Sequoia Capital US
    Growth Fund&#160;IV, LP. Michael J. Moritz, one of our
    directors, is a Managing Director of SCGF GenPar, Ltd. (Cayman),
    and he is a Managing Member of SCFF Management, LLC, SCIX
    Management, LLC, SCGF IV Management, LP and SCGF IV Management,
    LP (Cayman). Mr.&#160;Moritz may be deemed to have shared voting
    and investment power over the shares held by Sequoia Capital
    Franchise Fund, Sequoia Capital IX, Sequoia Capital US Growth
    Fund&#160;IV, L.P., Sequoia Capital Franchise Partners and
    Sequoia Capital Entrepreneurs Annex&#160;Fund, as applicable.
    Mr.&#160;Moritz disclaims beneficial ownership of such shares,
    except to the extent of his pecuniary interest therein. The
    address for Mr.&#160;Moritz and each of these entities is 3000
    Sand Hill Road, Building&#160;4, Suite&#160;250, Menlo Park,
    California 94025.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents 4,311,713&#160;shares owned by the Steven W. Streit
    Family Trust, of which Mr.&#160;Streit is the trustee,
    34,040&#160;shares owned by his children and 665,768&#160;shares
    subject to options held by Steven W. Streit that are exercisable
    within 60&#160;days of February&#160;22, 2010.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    W. Thomas Smith, Jr., one of our directors, is a managing
    partner of Total Technology Ventures, LLC, the general partner
    of TTP Fund, L.P. The other managing partner is Gardiner W.
    Garrard. The address for TTP Fund, L.P. is 1230 Peachtree
    Street, Promenade II, Suite&#160;1190, Atlanta, Georgia 30309.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 443,750&#160;shares subject to options held by
    Mr.&#160;Troughton that are exercisable within 60&#160;days of
    February&#160;22, 2010.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents 1,029,955&#160;shares held by the David William Hanna
    Trust dated October&#160;30, 1989, 78,635&#160;shares held by
    Tim J. Morgan, Trustee, of the Hanna 2008 Annuity
    Trust&#160;Dated 6/5/08 and 68,200&#160;shares held by the
    Virginia L. Hanna Trust dated August&#160;16, 2001.
    Ms.&#160;Hanna disclaims beneficial ownership of the shares held
    by the David William Hanna Trust dated </TD>
</TR>
<!-- XBRL Paragraph Pagebreak -->

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    99
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    October&#160;30, 1989 and the shares held by Tim J. Morgan,
    Trustee of the Hanna 2008 Annuity Trust dated 6/5/08, except to
    the extent of her economic interest therein. The address of
    these trusts is
    <FONT style="white-space: nowrap">c/o&#160;Hanna</FONT>
    Capital Management, 8105 Irvine Center Drive, Suite 1170,
    Irvine, California 92618.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (6) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents 330,190&#160;shares held by The Greenleaf Family
    Trust&#160;Dated May&#160;16, 1999, of which Timothy R.
    Greenleaf is the trustee, and 250,689&#160;shares held by
    Mr.&#160;Greenleaf.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (7) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents shares held by YKA Partners Ltd., of which Kenneth C.
    Aldrich, one of our directors, is the agent of the general
    partner.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (8) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents 5,234&#160;shares held by John C. Ricci,
    4,460&#160;shares held by his minor children and
    374,550&#160;shares subject to options held by John C. Ricci
    that are exercisable within 60&#160;days of February&#160;22,
    2010.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (9) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents 25,000&#160;shares held by John L. Keatley,
    3,000&#160;shares held by his minor daughters and
    317,708&#160;shares subject to options held by Mr.&#160;Keatley
    that are exercisable within 60&#160;days of February&#160;22,
    2010. This amount does not include 10,000&#160;shares held by
    the Keatley Family Trust, of which he is neither a trustee nor a
    beneficiary.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (10) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents shares subject to options held by Mr.&#160;Sowell
    that are exercisable within 60&#160;days of February&#160;22,
    2010.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (11) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes 1,812,609&#160;shares subject to options that are
    exercisable within 60&#160;days of February&#160;22, 2010.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (12) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    held
    by&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    selling stockholders, no one of whom owns more than 1% of our
    outstanding shares of common stock or is selling more than
    shares.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    100
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table presents information as to the beneficial
    ownership of our common stock as of February&#160;22, 2010, and
    as adjusted to reflect our sale of Class&#160;A common stock in
    this offering assuming exercise in full of the
    underwriters&#146; option to purchase additional shares, by:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each stockholder known by us to be the beneficial owner of more
    than 5% of our common stock;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each of our directors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each of our named executive officers;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    all of our directors and executive officers as a group;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each selling stockholder.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Beneficial ownership is determined on the same basis described
    in the previous table, including the footnotes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="47%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="14%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" nowrap align="center" valign="bottom">
    <B>Shares Beneficially Owned<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" nowrap align="center" valign="bottom">
    <B>after Offering if the<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Number of Shares<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" nowrap align="center" valign="bottom">
    <B>Underwriters&#146; Option is<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>to be Sold if the<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Exercised in Full</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Underwriters&#146;<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Class A<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Class B<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>% Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Option is<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Common Stock</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Common Stock</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Voting<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name and Address of Beneficial Owner</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Exercised in Full</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Power</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Sequoia Capital
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Michael J. Moritz
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Steven W. Streit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    TTP Fund, L.P.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    W. Thomas Smith Jr.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Virginia L. Hanna
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<DIV style="text-indent: -9pt; margin-left: 9pt">
    Mark T. Troughton
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    Timothy R. Greenleaf
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<DIV style="text-indent: -9pt; margin-left: 9pt">
    YKA Partners Ltd.
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    Kenneth C. Aldrich
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    John C. Ricci
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    John L. Keatley
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    William D. Sowell
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<DIV style="text-indent: -9pt; margin-left: 9pt">
    William H. Ott, Jr.&#160;
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<DIV style="text-indent: -9pt; margin-left: 9pt">
    All directors and executive officers as a group (11&#160;persons)
</DIV>
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    Other selling stockholders
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</TABLE>

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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    101
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

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<A name='116'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">DESCRIPTION OF
    CAPITAL STOCK</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Upon the completion of this offering, our authorized capital
    stock will consist
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of Class&#160;A common stock, $0.001&#160;par value per
    share,&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of Class&#160;B common stock, $0.001&#160;par value per share,
    and 5,000,000&#160;shares of undesignated preferred stock,
    $0.001&#160;par value per share. The following description
    summarizes the most important terms of our capital stock.
    Because it is only a summary, it does not contain all the
    information that may be important to you. For a complete
    description, you should refer to our restated certificate of
    incorporation and restated bylaws, which are included as
    exhibits to the registration statement of which this prospectus
    forms a part, and to the provisions of applicable Delaware law.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Common
    Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As of October&#160;31, 2009, there were no shares of our
    Class&#160;A common stock outstanding. Assuming the conversion
    of all shares of our preferred stock into shares of our
    Class&#160;B common stock, which will occur immediately prior to
    the closing of this offering, as of October&#160;31, 2009, there
    were 37,017,459&#160;shares of our Class&#160;B common stock
    outstanding, held
    by&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    stockholders of record, and no shares of our preferred stock
    outstanding. After this offering, there will
    be&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A common stock
    and&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;B common stock
    and&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;B common stock outstanding.&#160;Our board of
    directors is authorized, without stockholder approval, to issue
    additional shares of Class&#160;A and Class&#160;B common stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Dividend Rights.</I>&#160;&#160;Subject to preferences that
    may apply to any shares of preferred stock outstanding at the
    time, the holders of outstanding shares of our Class&#160;A and
    Class&#160;B common stock are entitled to receive dividends out
    of funds legally available at the times and in the amounts that
    our board of directors may determine.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Voting Rights.</I>&#160;&#160;Holders of our Class&#160;A and
    Class&#160;B common stock have identical rights, except that
    holders of our Class&#160;A common stock are entitled to one
    vote per share and holders of our Class&#160;B common stock are
    entitled to 10 votes per share. Holders of shares of our
    Class&#160;A common stock and Class&#160;B common stock will
    vote together as a single class on all matters (including the
    election of directors) submitted to a vote of stockholders,
    unless otherwise required by law. Delaware law could require
    either our Class&#160;A common stock or our Class&#160;B common
    stock to vote separately as a single class in the following
    circumstances:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If we were to seek to amend our certificate of incorporation to
    increase the authorized number of shares of a class of stock, or
    to increase or decrease the par value of a class of stock, then
    that class would be required to vote separately to approve the
    proposed amendment;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If we were to seek to amend our certificate of incorporation in
    a manner that altered or changed the powers, preferences or
    special rights of a class of stock in a manner that affected
    them adversely, then that class would be required to vote
    separately to approve the proposed amendment.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have not provided for cumulative voting for the election of
    directors in our certificate of incorporation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>No Preemptive or Similar Rights.</I>&#160;&#160;Neither our
    Class&#160;A nor our Class&#160;B common stock is entitled to
    preemptive rights, and neither is subject to redemption.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Conversion.</I>&#160;&#160;Our Class&#160;A common stock is
    not convertible into any other shares of our capital stock. Each
    share of our Class&#160;B common stock is convertible at any
    time at the option of the holder into one share of our
    Class&#160;A common stock. In addition, each share of our
    Class&#160;B common stock will convert automatically into one
    share of our Class&#160;A common stock upon any transfer,
    whether or not for value, except for estate planning,
    intercompany and other similar transfers or upon the date that
    the total number of shares of our Class&#160;B common stock
    outstanding represents less than 10% of the total number of
    shares of our Class&#160;A and Class&#160;B common stock
    outstanding. Once transferred and converted into Class&#160;A
    common stock, the Class&#160;B common stock may not be reissued.
    No class
</DIV>
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    <BR>
    102
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    of our common stock may be subdivided or combined unless the
    other class of our common stock concurrently is subdivided or
    combined in the same proportion and in the same manner.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Right to Receive Liquidation
    Distributions.</I>&#160;&#160;Upon our liquidation, dissolution
    or
    <FONT style="white-space: nowrap">winding-up,</FONT>
    the assets legally available for distribution to our
    stockholders would be distributable ratably among the holders of
    our Class&#160;A and Class&#160;B common stock and any
    participating preferred stock outstanding at that time after
    payment of liquidation preferences, if any, on any outstanding
    shares of preferred stock and payment of other claims of
    creditors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Fully Paid and Non-Assessable.</I>&#160;&#160;All of the
    outstanding shares of our Class&#160;B common stock are, and the
    shares of our Class&#160;A common stock to be issued pursuant to
    this offering will be, fully paid and non-assessable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Preferred
    Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Following this offering, our board of directors will be
    authorized, subject to limitations prescribed by Delaware law,
    to issue preferred stock in one or more series, to establish
    from time to time the number of shares to be included in each
    series, and to fix the designation, powers, preferences and
    rights of the shares of each series and any of its
    qualifications, limitations or restrictions, in each case
    without further action by our stockholders. Our board of
    directors can also increase or decrease the number of shares of
    any series of preferred stock, but not below the number of
    shares of that series then outstanding, unless approved by the
    affirmative vote of the holders of a majority of our capital
    stock entitled to vote, or such other vote as may be required by
    the certificate of designation establishing the series. Our
    board of directors may authorize the issuance of preferred stock
    with voting or conversion rights that could adversely affect the
    voting power or other rights of the holders of our common stock.
    The issuance of preferred stock, while providing flexibility in
    connection with possible acquisitions and other corporate
    purposes, could, among other things, have the effect of
    delaying, deferring or preventing a change in our control and
    might adversely affect the market price of our common stock and
    the voting and other rights of the holders of our common stock.
    We have no current plan to issue any shares of preferred stock.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Warrants</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As of October&#160;31, 2009, we had outstanding the following
    warrants to purchase shares of our capital stock:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="46%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="12%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="19%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Total Number of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Shares Subject<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Exercise Price<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Type of Capital Stock</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>to Warrants</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>per Share</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Expiration Date</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Class&#160;B common stock*
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,283,456(1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    23.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    March 3, 2017(2)
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">Series&#160;C-1</FONT>
    preferred stock(3)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    283,786
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    February 11, 2012
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    *&#160;</TD>
    <TD></TD>
    <TD valign="bottom">
    This warrant is redeemable for cash if we fail to perform under
    our commercial agreement with the holder. In addition, we have
    the right to repurchase any shares previously issued upon the
    exercise of the warrant if the holder fails to perform under the
    same agreement.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Of these shares, 3,426,765&#160;shares will vest and become
    exercisable only upon the achievement of certain performance
    goals prior to the earlier of March&#160;3, 2014 or the
    termination of our commercial agreement with the holder, and the
    remaining shares will vest and become exercisable only if
    certain other performance goals also take place prior to the
    same deadline.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    The warrant may expire earlier than this date. The warrant
    provides that it expires on the earlier of March&#160;3, 2014 or
    the termination of our commercial agreement with the holder if
    none of the shares subject to the warrant have vested prior to
    the earlier event. Should any of the shares subject to the
    warrant vest, the warrant expires on the earliest of the date on
    which our commercial agreement with the holder is terminated,
    the date of a change in control of our company or March&#160;3,
    2017.</TD>
</TR>

</TABLE>
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    <BR>
    103
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Any warrants to purchase shares of our
    <FONT style="white-space: nowrap">Class&#160;C-1</FONT>
    preferred stock that remain outstanding following the completion
    of this offering will become exercisable for a like number of
    shares of our Class&#160;B common stock.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Registration
    Rights</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Pursuant to the terms of our eighth amended and restated
    registration rights agreement, immediately following this
    offering, the holders of
    approximately&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;B common stock will be entitled to rights with
    respect to the registration of these shares under the Securities
    Act, as described below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Demand Registration Rights.</I>&#160;&#160;At any time
    beginning six months after the completion of this offering, the
    holders of at least 50% of the then-outstanding shares having
    registration rights can request that we file a registration
    statement covering registrable securities with an anticipated
    aggregate offering price of at least $5.0&#160;million. We are
    only required to file two registration statements upon exercise
    of these demand registration rights. We may postpone the filing
    of a registration statement for up to 90&#160;days once in a
    <FONT style="white-space: nowrap">12-month</FONT>
    period if we determine that the filing would be detrimental to
    us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Piggyback Registration Rights.</I>&#160;&#160;If we register
    any of our Class&#160;A common stock for public sale, holders of
    shares having registration rights will have the right to include
    their shares in the registration statement. However, this right
    does not apply to a registration relating to any of our employee
    benefit plans, a registration relating to a corporate
    reorganization or acquisition or a registration in which the
    only common stock being registered is common stock issuable upon
    conversion of debt securities that are also being registered.
    The managing underwriter of any underwritten offering will have
    the right, in its sole discretion, to limit, because of
    marketing reasons, the number of shares registered by these
    holders, in which case the number of shares to be registered
    will be apportioned pro rata among these holders, according to
    the total amount of securities entitled to be included by each
    holder, or in a manner mutually agreed upon by the holders.
    However, the number of shares to be registered by these holders
    cannot be reduced below 25% of the total shares covered by the
    registration statement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I><FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    Registration Rights.</I>&#160;&#160;The holders of at least 20%
    of the then-outstanding shares having registration rights can
    request that we register all or part of their shares on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    if we are eligible to file a registration statement on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    and if the aggregate price to the public of the shares offered
    is at least $1.0&#160;million. The stockholders may only require
    us to file two registration statements on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    in a
    <FONT style="white-space: nowrap">12-month</FONT>
    period. We may postpone the filing of a registration statement
    on
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    for up to 90&#160;days once in a
    <FONT style="white-space: nowrap">12-month</FONT>
    period if we determine that the filing would be detrimental to
    us and our stockholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Expenses of Registration Rights.</I>&#160;&#160;We will pay
    all expenses, other than underwriting discounts and commissions
    and the fees and disbursements of more than one counsel for the
    selling stockholders, incurred in connection with the
    registrations described above, except for the expenses incurred
    pursuant to the third registration following the exercise of the
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    registration rights described above in a
    <FONT style="white-space: nowrap">12-month</FONT>
    period.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Expiration of Registration Rights.</I>&#160;&#160;The
    registration rights described above will expire, with respect to
    any particular holder of these rights, on the earlier of the
    fifth anniversary of the completion of this offering or when
    that holder can sell all of its registrable securities in any
    three-month period under Rule&#160;144 of the Securities Act.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Anti-Takeover
    Provisions</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The provisions of Delaware law, our dual class structure, our
    restated certificate of incorporation and our restated bylaws
    may have the effect of delaying, deferring or discouraging
    another person from acquiring control of our company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Delaware Law.</I>&#160;&#160;We are governed by the
    provisions of Section&#160;203 of the Delaware General
    Corporation Law. In general, Section&#160;203 prohibits a public
    Delaware corporation from engaging in a &#147;business
    combination&#148; with an &#147;interested stockholder&#148; for
    a period of three years after the date of
</DIV>
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    <BR>
    104
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    the transaction in which the person became an interested
    stockholder, unless the business combination is approved in a
    prescribed manner. A &#147;business combination&#148; includes
    mergers, asset sales or other transactions resulting in a
    financial benefit to the stockholder. An &#147;interested
    stockholder&#148; is a person who, together with affiliates and
    associates, owns, or within three years did own, 15% or more of
    the corporation&#146;s outstanding voting stock. These
    provisions may have the effect of delaying, deferring or
    preventing a change in our control.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Dual Class Structure.</I>&#160;&#160;As discussed above, our
    Class&#160;B common stock has ten votes per share, while our
    Class&#160;A common stock, which is the class of stock we and
    the selling stockholders are selling in this offering and which
    will be the only class of stock which is publicly traded, has
    one vote per share. After the offering, our current directors,
    executive officers, holders of more than 5% of our common stock
    and their respective affiliates will, in the aggregate,
    beneficially own approximately&#160;&#160;&#160;&#160;&#160;% of
    our outstanding Class&#160;B common stock, representing
    approximately&#160;&#160;&#160;&#160;&#160;% of the total voting
    power of our outstanding capital stock
    (approximately&#160;&#160;&#160;&#160;&#160;% and
    approximately&#160;&#160;&#160;&#160;&#160;%, respectively, if
    the underwriters exercise their over-allotment option in full).
    Because of our dual class structure, the holders of our
    Class&#160;B common stock will continue to be able to control
    all matters submitted to our stockholders for approval even if
    they own significantly less than 50% of the shares of our
    outstanding common stock. This concentrated control could
    discourage others from initiating any potential merger, takeover
    or other change of control transaction that other stockholders
    might view as beneficial. Our board of directors is authorized,
    without stockholder approval, to issue additional shares of
    Class&#160;A and Class&#160;B common stock.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>Restated Certificate of Incorporation and Restated Bylaw
    Provisions.</I>&#160;&#160;Our restated certificate of
    incorporation and our restated bylaws provide for a dual class
    structure and includes a number of other provisions that could
    deter hostile takeovers or delay or prevent changes in control
    of our management team, including the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Board of Directors Vacancies.</I>&#160;&#160;Our restated
    certificate of incorporation and restated bylaws authorize only
    our board of directors to fill vacant directorships. In
    addition, the number of directors constituting our board of
    directors is permitted to be set only by a resolution adopted by
    a majority vote of our entire board of directors. These
    provisions would prevent a stockholder from increasing the size
    of our board of directors and then gaining control of our board
    of directors by filling the resulting vacancies with its own
    nominees.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Classified Board.</I>&#160;&#160;Our restated certificate of
    incorporation and restated bylaws provide that our board is
    classified into three classes of directors. This could delay a
    successful tender offeror from obtaining majority control of our
    board of directors, and the prospect of that delay might deter a
    potential offeror. In addition, stockholders are not permitted
    to cumulate their votes for the election of directors.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Stockholder Action; Special Meeting of
    Stockholders.</I>&#160;&#160;Our restated certificate of
    incorporation provides that our stockholders may not take action
    by written consent, but may only take action at annual or
    special meetings of our stockholders. Our restated bylaws
    further provide that special meetings of our stockholders may be
    called only by a majority of our board of directors, the
    chairman of our board of directors, our chief executive officer
    or our president.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Advance Notice Requirements for Stockholder Proposals and
    Director Nominations</I>. Our restated bylaws provide advance
    notice procedures for stockholders seeking to bring business
    before our annual meeting of stockholders, or to nominate
    candidates for election as directors at our annual meeting of
    stockholders. Our restated bylaws also specify certain
    requirements regarding the form and content of a
    stockholder&#146;s notice. These provisions might preclude our
    stockholders from bringing matters before our annual meeting of
    stockholders or from making nominations for directors at our
    annual meeting of stockholders.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Limits on Voting Power.</I>&#160;&#160;Our restated
    certificate of incorporation provides that a holder, or group of
    affiliated holders, of more than 24.9% of our common stock may
    not vote shares representing more than 14.9% of the voting power
    represented by the outstanding shares of our Class&#160;A and
    Class&#160;B common stock. These provisions might make it more
    difficult or
</TD>
</TR>
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    <BR>
    105
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    discourage an attempt by such a stockholder to obtain control of
    us by means of a merger, tender offer, proxy contest or other
    means.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Issuance of Undesignated Preferred Stock.</I>&#160;&#160;Our
    board of directors has the authority, without further action by
    the stockholders, to issue up
    to&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of undesignated preferred stock with rights and preferences,
    including voting rights, designated from time to time by our
    board of directors. The existence of authorized but unissued
    shares of preferred stock would enable our board of directors to
    render more difficult or to discourage an attempt to obtain
    control of us by means of a merger, tender offer, proxy contest
    or other means.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Listing</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We intend to apply for the listing of our Class&#160;A common
    stock on the NYSE under the symbol
    &#147;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Transfer Agent
    and Registrar</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The transfer agent and registrar for our common stock
    is&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;.
</DIV>
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    <BR>
    106
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='117'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">SHARES ELIGIBLE
    FOR FUTURE SALE</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Prior to this offering, there has been no public market for our
    Class&#160;A common stock, and we cannot predict the effect, if
    any, that market sales of shares of our Class&#160;A common
    stock or the availability of shares of our Class&#160;A common
    stock for sale will have on the market price of our Class&#160;A
    common stock prevailing from time to time. Nevertheless, sales
    of substantial amounts of our Class&#160;A common stock, or the
    perception that those sales could occur, including shares of
    Class&#160;A common stock issued upon conversion of Class&#160;B
    common stock issued upon exercise of outstanding options or
    warrants, in the public market after this offering could
    adversely affect market prices prevailing from time to time and
    could impair our ability to raise capital through the sale of
    our equity securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Upon the completion of this offering, based on the number of
    shares outstanding as
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2010, we will have a total
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of our Class&#160;A and Class&#160;B common stock outstanding.
    Of these outstanding shares, all of
    the&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    of Class&#160;A common stock sold in this offering will be
    freely tradable, except that any shares held by our affiliates,
    as that term is defined in Rule&#160;144 under the Securities
    Act, may only be sold in compliance with the limitations
    described below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The remaining outstanding shares of our Class&#160;B common
    stock will be deemed restricted securities as defined in
    Rule&#160;144. Restricted securities may be sold in the public
    market only if registered or if they qualify for an exemption
    from registration under Rule&#160;144 or Rule&#160;701
    promulgated under the Securities Act, which rules are summarized
    below. In addition, all of our security holders, except for the
    holders of warrants to purchase up to 283,786&#160;shares of our
    Class&#160;B common stock, have entered into market standoff
    agreements with us or
    <FONT style="white-space: nowrap">lock-up</FONT>
    agreements with the underwriters under which they have agreed,
    subject to specific exceptions, not to sell any of our stock for
    at least 180&#160;days following the date of this prospectus.
    Subject to the provisions of Rule&#160;144 or Rule&#160;701,
    based on an assumed offering date
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;,
    2010, shares will be available for sale in the public market as
    follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    will be eligible for sale immediately upon completion of this
    offering;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    will be eligible for sale beginning 90&#160;days after the date
    of this prospectus;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    will be eligible for sale upon the expiration of the
    <FONT style="white-space: nowrap">lock-up</FONT>
    <FONT style="white-space: nowrap">and/or</FONT>
    market standoff agreements described below, subject in some
    cases to the volume and other restrictions of Rule&#160;144 and
    Rule&#160;701 also described below.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica"><FONT style="white-space: nowrap">Lock-Up</FONT>
    Agreements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    All of our directors and officers and all of our security
    holders other than the holders of warrants to purchase up to
    283,786&#160;shares of our Class&#160;B common stock are subject
    to <FONT style="white-space: nowrap">lock-up</FONT>
    agreements that, subject to exceptions described in the
    &#147;Underwriting&#148; section below, prohibit them from
    offering for sale, selling, contracting to sell, granting any
    option for the sale of, transferring or otherwise disposing of
    any shares of our common stock, options or warrants to acquire
    shares of our common stock or any security or instrument related
    to this common stock, option or warrant for a period of at least
    180&#160;days following the date of this prospectus without the
    prior written consent of J.P.&#160;Morgan Securities Inc. and
    Morgan Stanley&#160;&#038; Co. Incorporated. In addition, all of
    our security holders, other than the holder of warrants to
    purchase up to 283,786 shares of our Class&#160;B common stock,
    are subject to market standoff provisions that contain
    restrictions similar to those contained in the lock-up
    agreements.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Rule&#160;144</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In general, under Rule&#160;144 as currently in effect, once we
    have been subject to public company reporting requirements for
    at least 90&#160;days, a person who is not deemed to have been
    one of our affiliates for purposes of the Securities Act at any
    time during the 90&#160;days preceding a sale and who has
    beneficially owned the shares proposed to be sold for at least
    six months, including the holding period of any prior owner
    other than our affiliates, is entitled to sell those shares
    without complying with the manner of sale, volume limitation or
    notice provisions of Rule&#160;144, subject to compliance with
    the public information requirements of Rule&#160;144. If such a
    person has beneficially owned the shares
</DIV>
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    <BR>
    107
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    proposed to be sold for at least one year, including the holding
    period of any prior owner other than our affiliates, then that
    person would be entitled to sell those shares immediately
    without complying with any of the requirements of Rule&#160;144.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In general, under Rule&#160;144, as currently in effect, our
    affiliates or persons selling shares on behalf of our affiliates
    are entitled to sell upon expiration of the
    <FONT style="white-space: nowrap">lock-up</FONT>
    agreements described above, within any three-month period, a
    number of shares that does not exceed the greater of:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    1% of the number of shares of our common stock then outstanding,
    which will equal
    approximately&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shares
    immediately after this offering;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the average weekly trading volume of our Class&#160;A common
    stock during the four calendar weeks preceding the filing of a
    notice on Form&#160;144 with respect to that sale.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Sales under Rule&#160;144 by our affiliates or persons selling
    shares on behalf of our affiliates are also subject to certain
    manner of sale provisions and notice requirements and to the
    availability of current public information about us.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Rule&#160;701</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Rule&#160;701 generally allows a stockholder who purchased
    shares of our common stock pursuant to a written compensatory
    plan or contract and who is not deemed to have been an affiliate
    of our company during the immediately preceding 90&#160;days to
    sell these shares in reliance upon Rule&#160;144, but without
    being required to comply with the public information, holding
    period, volume limitation or notice provisions of Rule&#160;144.
    Rule&#160;701 also permits affiliates of our company to sell
    their Rule&#160;701&#160;shares under Rule&#160;144 without
    complying with the holding period requirements of Rule&#160;144.
    All holders of Rule&#160;701&#160;shares, however, are required
    to wait until 90&#160;days after the date of this prospectus
    before selling those shares pursuant to Rule&#160;701.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Stock
    Options</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We intend to file a registration statement on
    <FONT style="white-space: nowrap">Form&#160;S-8</FONT>
    under the Securities Act covering all of the shares of our
    Class&#160;B common stock subject to options outstanding and the
    shares of our Class&#160;A Common Stock and Class&#160;B Common
    Stock reserved for issuance under our stock plans. We expect to
    file this registration statement as soon as practicable after
    the completion of this offering. In addition, we intend to file
    a registration statement on
    <FONT style="white-space: nowrap">Form&#160;S-8</FONT>
    or such other form as may be required under the Securities Act
    for the resale of shares of our Class&#160;B common stock issued
    upon the exercise of options that were not granted under
    Rule&#160;701. We expect to file this registration statement as
    soon as permitted under the Securities Act. However, the shares
    registered on
    <FONT style="white-space: nowrap">Form&#160;S-8</FONT>
    may be subject to the volume limitations and the manner of sale,
    notice and public information requirements of Rule&#160;144 and
    will not be eligible for resale until expiration of the
    <FONT style="white-space: nowrap">lock-up</FONT>
    agreements to which they are subject.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Warrants</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As of October&#160;31, 2009, we had an outstanding warrant to
    purchase 283,786&#160;shares of Class&#160;B common stock. This
    warrant contains a &#147;net exercise provision.&#148; This
    provision allows a holder to exercise the warrant for a lesser
    number of shares of Class&#160;B common stock in lieu of paying
    cash. The number of shares that would be issued in this case
    would be based upon the market price of the Class&#160;B common
    stock at the time of the net exercise. Because the warrant has
    been held for at least one year, any shares of Class&#160;B
    common stock issued upon net exercise of that warrant could be
    publicly sold under Rule&#160;144 following completion of this
    offering. After the
    <FONT style="white-space: nowrap">lock-up</FONT> and
    market standoff agreements described above expire, an unvested
    warrant to purchase up to 4,283,456&#160;shares of our
    Class&#160;B common stock, which also contains a net exercise
    provision, will have been outstanding for at least one year, and
    any shares of Class&#160;B common stock issued upon net exercise
    of that warrant could be publicly sold under Rule&#160;144. This
    warrant vests and becomes exercisable only upon achievement of
    certain performance goals. See &#147;Description of Capital
    Stock&#160;&#150; Warrants.&#148;
</DIV>
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    <BR>
    108
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Registration
    Rights</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have granted demand, piggyback and
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    registration rights to certain of our stockholders to sell our
    common stock. For a further description of these rights, see
    &#147;Description of Capital Stock&#160;&#150; Registration
    Rights.&#148;
</DIV>
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    <BR>
    109
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<A name='118'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">UNDERWRITING</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We are offering the shares of Class&#160;A common stock
    described in this prospectus through a number of underwriters.
    J.P.&#160;Morgan Securities Inc. and Morgan Stanley&#160;&#038;
    Co. Incorporated are acting as joint book-running managers of
    the offering and as representatives of the underwriters. We have
    entered into an underwriting agreement with the underwriters.
    Subject to the terms and conditions of the underwriting
    agreement, we have agreed to sell to the underwriters, and each
    underwriter has severally agreed to purchase, at the public
    offering price less the underwriting discounts and commissions
    set forth on the cover page of this prospectus, the number of
    shares of our Class&#160;A common stock listed next to its name
    in the following table:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="89%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Number of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    J.P.&#160;Morgan Securities Inc.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Morgan Stanley&#160;&#038; Co. Incorporated
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Piper Jaffray&#160;&#038; Co.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    UBS Securities LLC
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The underwriters are committed to purchase all the shares of our
    Class&#160;A common stock offered by us if they purchase any
    shares. The underwriting agreement also provides that if an
    underwriter defaults, the purchase commitments of non-defaulting
    underwriters may also be increased or the offering may be
    terminated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The underwriters propose to offer the Class&#160;A common stock
    directly to the public at the initial public offering price set
    forth on the cover page of this prospectus and to certain
    dealers at that price less a concession not in excess of
    $&#160;&#160;&#160;&#160;&#160; per share. Any such dealers may
    resell shares to certain other brokers or dealers at a discount
    of up to $&#160;&#160;&#160;&#160;&#160; per share from the
    initial public offering price. After the initial public offering
    of the shares, the offering price and other selling terms may be
    changed by the underwriters. Sales of shares made outside the
    United States may be made by affiliates of the underwriters. The
    representatives have advised us that the underwriters do not
    intend to confirm discretionary sales in excess of 5% of the
    Class&#160;A common stock offered in this offering.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The underwriters have an option to buy up
    to&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    additional shares of our Class&#160;A common stock from us and
    the selling stockholders to cover over-allotments, if any. The
    underwriters have 30&#160;days from the date of this prospectus
    to exercise this over-allotment option. If any shares are
    purchased with this over-allotment option, the underwriters will
    purchase shares in approximately the same proportion as shown in
    the table above. If any additional shares of our Class&#160;A
    common stock are purchased, the underwriters will offer the
    additional shares on the same terms as those on which the shares
    are being offered.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The underwriting fee is equal to the public offering price per
    share of our Class&#160;A common stock less the amount paid by
    the underwriters to us per share of our Class&#160;A common
    stock. The underwriting fee is $&#160;&#160;&#160;&#160;&#160;
    per share. The following table shows the per share and total
    underwriting discounts and commissions to be paid to the
    underwriters assuming both no exercise and full exercise of the
    underwriters&#146; option to purchase additional shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="61%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="8%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="8%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Without Over-<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>With Full Over-<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Allotment Exercise</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Allotment Exercise</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Per share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#160;&#160;&#160;&#160;&#160;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We estimate that the total expenses of this offering, including
    registration, filing and listing fees, printing fees and legal
    and accounting expenses, but excluding the underwriting
    discounts and commissions, will be approximately
    $&#160;&#160;&#160;&#160;&#160;.
</DIV>
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    <BR>
    110
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    A prospectus in electronic format may be made available on the
    web sites maintained by one or more underwriters, or selling
    group members, if any, participating in the offering. The
    underwriters may agree to allocate a number of shares to
    underwriters and selling group members for sale to their online
    brokerage account holders. Internet distributions will be
    allocated by the representatives to underwriters and selling
    group members that may make Internet distributions on the same
    basis as other allocations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have agreed that we will not (i)&#160;offer, pledge, announce
    the intention to sell, sell, contract to sell, sell any option
    or contract to purchase, purchase any option or contract to
    sell, grant any option, right or warrant to purchase or
    otherwise dispose of, directly or indirectly, or file with the
    SEC a registration statement under the Securities Act relating
    to, any shares of our Class&#160;A common stock or securities
    convertible into or exchangeable or exercisable for any shares
    of our Class&#160;A common stock, or publicly disclose the
    intention to make any offer, sale, pledge, disposition or
    filing, or (ii)&#160;enter into any swap or other arrangement
    that transfers all or a portion of the economic consequences
    associated with the ownership of any shares of our Class&#160;A
    common stock or any such other securities (regardless of whether
    any of these transactions are to be settled by the delivery of
    shares of our Class&#160;A common stock or such other
    securities, in cash or otherwise), in each case without the
    prior written consent of J.P.&#160;Morgan Securities Inc. and
    Morgan Stanley&#160;&#038; Co. Incorporated for a period of
    180&#160;days after the date of this prospectus, other than
    (A)&#160;the shares of our Class&#160;A common stock to be sold
    hereunder, (B)&#160;grants and settlements of awards under our
    stock plans that are described in this prospectus, (C)&#160;the
    filing of a registration statement in connection with an
    employee stock compensation plan and (D)&#160;the issuance of
    securities in connection with certain acquisitions, joint
    ventures or other strategic transactions, provided that the
    aggregate number of shares issued in all such transactions under
    this clause&#160;(D) may not exceed 10% of our outstanding stock
    upon the consummation of this initial public offering and any
    recipient of any such shares agrees to be subject to the
    restrictions set forth in the following paragraph.
    Notwithstanding the foregoing, if (1)&#160;during the last
    17&#160;days of the
    <FONT style="white-space: nowrap">180-day</FONT>
    restricted period, we issue an earnings release or material news
    or a material event relating to our company occurs; or
    (2)&#160;prior to the expiration of the
    <FONT style="white-space: nowrap">180-day</FONT>
    restricted period, we announce that we will release earnings
    results during the
    <FONT style="white-space: nowrap">16-day</FONT>
    period beginning on the last day of the
    <FONT style="white-space: nowrap">180-day</FONT>
    period, the restrictions described above shall continue to apply
    until the expiration of the
    <FONT style="white-space: nowrap">18-day</FONT>
    period beginning on the issuance of the earnings release or the
    occurrence of the material news or material event.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our directors, executive officers and all of our security
    holders have entered into
    <FONT style="white-space: nowrap">lock-up</FONT>
    agreements with the underwriters prior to the commencement of
    this offering pursuant to which each of these persons or
    entities, with limited exceptions, for a period of 180&#160;days
    after the date of this prospectus, may not, without the prior
    written consent of J.P.&#160;Morgan Securities Inc. and Morgan
    Stanley&#160;&#038; Co. Incorporated, (1)&#160;offer, pledge,
    announce the intention to sell, sell, contract to sell, sell any
    option or contract to purchase, purchase any option or contract
    to sell, grant any option, right or warrant to purchase, or
    otherwise transfer or dispose of, directly or indirectly, any
    shares of our Class&#160;A common stock or any securities
    convertible into or exercisable or exchangeable for our
    Class&#160;A common stock (including, without limitation,
    Class&#160;A common stock or such other securities which may be
    deemed to be beneficially owned by such directors, executive
    officers, managers and members in accordance with the rules and
    regulations of the SEC and securities which may be issued upon
    exercise of a stock option or warrant) or (2)&#160;enter into
    any swap or other agreement that transfers, in whole or in part,
    any of the economic consequences of ownership of our
    Class&#160;A common stock or such other securities, whether any
    such transaction described in clause&#160;(1) or (2)&#160;above
    is to be settled by delivery of our Class&#160;A common stock or
    such other securities, in cash or otherwise, or (3)&#160;make
    any demand for or exercise any right with respect to the
    registration of any shares of our Class&#160;A common stock or
    any security convertible into or exercisable or exchangeable for
    our Class&#160;A common stock. Notwithstanding the foregoing, if
    (1)&#160;during the last 17&#160;days of the
    <FONT style="white-space: nowrap">180-day</FONT>
    restricted period, we issue an earnings release or material news
    or a material event relating to our company occurs; or
    (2)&#160;prior to the expiration of the
    <FONT style="white-space: nowrap">180-day</FONT>
    restricted period, we announce that we will release earnings
    results during the
    <FONT style="white-space: nowrap">16-day</FONT>
    period beginning on the last day of the
    <FONT style="white-space: nowrap">180-day</FONT>
    period, the
</DIV>
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    <BR>
    111
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    restrictions described above shall continue to apply until the
    expiration of the
    <FONT style="white-space: nowrap">18-day</FONT>
    period beginning on the issuance of the earnings release or the
    occurrence of the material news or material event.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We and the selling stockholders have agreed to indemnify the
    underwriters against certain liabilities, including liabilities
    under the Securities Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In connection with this offering, the underwriters may engage in
    stabilizing transactions, which involves making bids for,
    purchasing and selling shares of our Class&#160;A common stock
    in the open market for the purpose of preventing or retarding a
    decline in the market price of our Class&#160;A common stock
    while this offering is in progress. These stabilizing
    transactions may include making short sales of our Class&#160;A
    common stock, which involves the sale by the underwriters of a
    greater number of shares of our Class&#160;A common stock than
    they are required to purchase in this offering, and purchasing
    shares of our Class&#160;A common stock in the open market to
    cover positions created by short sales. Short sales may be
    &#147;covered&#148; shorts, which are short positions in an
    amount not greater than the underwriters&#146; over-allotment
    option referred to above, or may be &#147;naked&#148; shorts,
    which are short positions in excess of that amount. The
    underwriters may close out any covered short position either by
    exercising their over-allotment option, in whole or in part, or
    by purchasing shares in the open market. In making this
    determination, the underwriters will consider, among other
    things, the price of shares available for purchase in the open
    market compared to the price at which the underwriters may
    purchase shares through the over-allotment option. A naked short
    position is more likely to be created if the underwriters are
    concerned that there may be downward pressure on the price of
    our Class&#160;A common stock in the open market that could
    adversely affect investors who purchase shares in this offering.
    To the extent that the underwriters create a naked short
    position, they will purchase shares in the open market to cover
    the position.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The underwriters have advised us that, pursuant to
    Regulation&#160;M of the Securities Act, they may also engage in
    other activities that stabilize, maintain or otherwise affect
    the price of our Class&#160;A common stock, including the
    imposition of penalty bids. This means that, if the
    representatives of the underwriters purchase our Class&#160;A
    common stock in the open market in stabilizing transactions or
    to cover short sales, the representatives can require the
    underwriters that sold those shares as part of this offering to
    repay the underwriting discount received by them.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    These activities may have the effect of raising or maintaining
    the market price of our Class&#160;A common stock or preventing
    or retarding a decline in the market price of our Class&#160;A
    common stock, and, as a result, the price of our Class&#160;A
    common stock may be higher than the price that otherwise might
    exist in the open market. If the underwriters commence these
    activities, they may discontinue them at any time. The
    underwriters may carry out these transactions on the NYSE, in
    the
    <FONT style="white-space: nowrap">over-the-counter</FONT>
    market or otherwise.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Prior to this offering, there has been no public market for our
    Class&#160;A common stock. The initial public offering price
    will be determined by negotiations between us, the selling
    stockholders and the representatives of the underwriters. In
    determining the initial public offering price, we and the
    representatives of the underwriters expect to consider a number
    of factors including:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the information set forth in this prospectus and otherwise
    available to the representatives;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our prospects and the history and prospects for the industry in
    which we compete;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an assessment of our management;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our prospects for future earnings;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the general condition of the securities markets at the time of
    this offering;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the recent market prices of, and demand for, publicly traded
    common stock of generally comparable companies;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    other factors deemed relevant by the underwriters and us.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Neither we nor the underwriters can assure investors that an
    active trading market will develop for our Class&#160;A common
    stock, or that the shares will trade in the public market at or
    above the initial public offering price.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    112
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Other than in the United States, no action has been taken by us
    or the underwriters that would permit a public offering of the
    securities offered by this prospectus in any jurisdiction where
    action for that purpose is required. The securities offered by
    this prospectus may not be offered or sold, directly or
    indirectly, nor may this prospectus or any other offering
    material or advertisements in connection with the offer and sale
    of any such securities be distributed or published in any
    jurisdiction, except under circumstances that will result in
    compliance with the applicable rules and regulations of that
    jurisdiction. Persons into whose possession this prospectus
    comes are advised to inform themselves about and to observe any
    restrictions relating to the offering and the distribution of
    this prospectus. This prospectus does not constitute an offer to
    sell or a solicitation of an offer to buy any securities offered
    by this prospectus in any jurisdiction in which such an offer or
    a solicitation is unlawful.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    This document is only being distributed to and is only directed
    at (i)&#160;persons who are outside the United Kingdom or
    (ii)&#160;to investment professionals falling within
    Article&#160;19(5) of the Financial Services and Markets Act
    2000 (Financial Promotion) Order 2005 (the &#147;Order&#148;) or
    (iii)&#160;high net worth entities, and other persons to whom it
    may lawfully be communicated, falling with Article&#160;49(2)(a)
    to (d)&#160;of the Order (all such persons together being
    referred to as &#147;relevant persons&#148;). The securities are
    only available to, and any invitation, offer or agreement to
    subscribe, purchase or otherwise acquire such securities will be
    engaged in only with, relevant persons. Any person who is not a
    relevant person should not act or rely on this document or any
    of its contents.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In relation to each Member State of the European Economic Area
    that has implemented the Prospectus Directive (each, a
    &#147;Relevant Member State&#148;), from and including the date
    on which the European Union Prospectus Directive (the &#147;EU
    Prospectus Directive&#148;) is implemented in that Relevant
    Member State (the &#147;Relevant Implementation Date&#148;), an
    offer of securities described in this prospectus may not be made
    to the public in that Relevant Member State prior to the
    publication of a prospectus in relation to the shares that has
    been approved by the competent authority in that Relevant Member
    State or, where appropriate, approved in another Relevant Member
    State and notified to the competent authority in that Relevant
    Member State, all in accordance with the EU Prospectus
    Directive, except that it may, with effect from and including
    the Relevant Implementation Date, make an offer of shares to the
    public in that Relevant Member State at any time:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to legal entities that are authorized or regulated to operate in
    the financial markets or, if not so authorized or regulated,
    whose corporate purpose is solely to invest in securities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to any legal entity that has two or more of (1)&#160;an average
    of at least 250&#160;employees during the last financial year;
    (2)&#160;a total balance sheet of more than &#128;43,000,000 and
    (3)&#160;an annual net turnover of more than &#128;50,000,000,
    as shown in its last annual or consolidated accounts;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    to fewer than 100 natural or legal persons (other than qualified
    investors as defined in the EU Prospectus Directive) subject to
    obtaining the prior consent of the book-running managers for any
    such offer;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    in any other circumstances that do not require the publication
    by the issuer of a prospectus pursuant to Article&#160;3 of the
    Prospectus Directive.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    For the purposes of this provision, the expression an
    &#147;offer of securities to the public&#148; in relation to any
    securities in any Relevant Member State means the communication
    in any form and by any means of sufficient information on the
    terms of the offer and the securities to be offered so as to
    enable an investor to decide to purchase or subscribe for the
    securities, as the same may be varied in that Member State by
    any measure implementing the EU Prospectus Directive in that
    Relevant Member State and the expression EU Prospectus Directive
    means Directive 2003/71/EC and includes any relevant
    implementing measure in each Relevant Member State.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Certain of the underwriters and their affiliates have provided
    in the past to us and our affiliates and may provide from time
    to time in the future certain commercial banking, financial
    advisory, investment banking and other services to us and those
    affiliates in the ordinary course of their business, for which
    they have received and may continue to receive customary fees
    and commissions. In addition, from time to time, certain of the
    underwriters and their affiliates may effect transactions for
</DIV>
<!-- XBRL Paragraph Pagebreak -->
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    113
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    their own account or the accounts of customers, and hold on
    behalf of themselves or their customers, long or short positions
    in our debt or equity securities or loans, and may do so in the
    future.
</DIV>

<A name='119'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">LEGAL
    MATTERS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Fenwick&#160;&#038; West LLP, Mountain View, California, will
    pass upon the validity of the issuance of the shares of our
    Class&#160;A common stock offered by this prospectus. Cravath,
    Swaine&#160;&#038; Moore LLP, New York, New York, will act as
    counsel to the underwriters.
</DIV>

<A name='120'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">EXPERTS</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Ernst&#160;&#038; Young LLP, independent registered public
    accounting firm, has audited our consolidated financial
    statements at July&#160;31, 2008 and 2009, and for each of the
    three fiscal years in the period ended July&#160;31, 2009, as
    set forth in their report. We have included our consolidated
    financial statements in this prospectus and elsewhere in the
    registration statement in reliance on Ernst&#160;&#038; Young
    LLP&#146;s report, given on their authority as experts in
    accounting and auditing.
</DIV>

<A name='121'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">WHERE YOU CAN
    FIND ADDITIONAL INFORMATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have filed with the SEC a registration statement on
    <FONT style="white-space: nowrap">Form&#160;S-1</FONT>
    under the Securities Act with respect to our Class&#160;A common
    stock. This prospectus, which constitutes a part of the
    registration statement, does not contain all of the information
    set forth in the registration statement, some items of which are
    contained in exhibits to the registration statement as permitted
    by the rules and regulations of the SEC. For further information
    with respect to us and our Class&#160;A common stock, we refer
    you to the registration statement, including the exhibits and
    the consolidated financial statements and notes filed as a part
    of the registration statement. Statements contained in this
    prospectus concerning the contents of any contract or any other
    document are not necessarily complete. If a contract or document
    has been filed as an exhibit to the registration statement,
    please see the copy of the contract or document that has been
    filed. Each statement in this prospectus relating to a contract
    or document filed as an exhibit is qualified in all respects by
    the filed exhibit. The exhibits to the registration statement
    should be reviewed for the complete contents of these contracts
    and documents. A copy of the registration statement, including
    the exhibits and the consolidated financial statements and notes
    filed as a part of the registration statement, may be inspected
    without charge at the SEC&#146;s Public Reference Room at
    100&#160;F&#160;Street, N.E., Washington,&#160;D.C. 20549, and
    copies of all or any part of the registration statement may be
    obtained from the SEC upon the payment of fees prescribed by it.
    You may call the SEC at
    <FONT style="white-space: nowrap">1-800-SEC-0330</FONT>
    for more information on the operation of the public reference
    facilities. The SEC maintains a website at
    <FONT style="white-space: nowrap">http://www.sec.gov</FONT>
    that contains reports, proxy and information statements and
    other information regarding companies that file electronically
    with&#160;it.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As a result of this offering, we will become subject to the
    information and reporting requirements of the Exchange Act and,
    in accordance with this law, will file periodic reports, proxy
    statements and other information with the SEC. These periodic
    reports, proxy statements and other information will be
    available for inspection and copying at the SEC&#146;s public
    reference facilities and the website of the SEC referred to
    above.
</DIV>
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    <BR>
    114
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='122'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">INDEX TO
    CONSOLIDATED FINANCIAL STATEMENTS</FONT></B>
</DIV>
</A>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left">
<!-- TOC -->
</DIV>

<DIV align="left">
<A name="tocpage"></A>
</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="97%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Page</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#300'>Report of Independent Registered Public
    Accounting Firm</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    F-2
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#301'>Consolidated Balance Sheets</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    F-3
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#302'>Consolidated Statements of Operations</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    F-4
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#303'>Consolidated Statements of Changes in Redeemable
    Convertible Preferred Stock and in<BR>
    Stockholders&#146; Equity</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    F-5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#304'>Consolidated Statements of Cash Flows</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    F-6
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#305'>Notes to Consolidated Financial Statements</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    F-7
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-1
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='300'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Report of
    Independent Registered Public Accounting Firm</FONT></B>
</DIV>
</A>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The Board of Directors and Stockholders
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Green Dot Corporation
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have audited the accompanying consolidated balance sheets of
    Green Dot Corporation (the Company) as of July&#160;31, 2008 and
    2009, and the related consolidated statements of operations,
    changes in redeemable convertible preferred stock and in
    stockholders&#146; equity (deficit), and cash flows for each of
    the three years in the period ended July&#160;31, 2009. These
    financial statements are the responsibility of the
    Company&#146;s management. Our responsibility is to express an
    opinion on these financial statements based on our audits.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We conducted our audits in accordance with the standards of the
    Public Company Accounting Oversight Board (United States). Those
    standards require that we plan and perform the audit to obtain
    reasonable assurance about whether the financial statements are
    free of material misstatement. We were not engaged to perform an
    audit of the Company&#146;s internal control over financial
    reporting. Our audits included consideration of internal control
    over financial reporting as a basis for designing audit
    procedures that are appropriate in the circumstances, but not
    for the purpose of expressing an opinion on the effectiveness of
    the Company&#146;s internal control over financial reporting.
    Accordingly, we express no such opinion. An audit also includes
    examining, on a test basis, evidence supporting the amounts and
    disclosures in the financial statements, assessing the
    accounting principles used and significant estimates made by
    management, and evaluating the overall financial statement
    presentation. We believe that our audits provide a reasonable
    basis for our opinion.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In our opinion, the financial statements referred to above
    present fairly, in all material respects, the consolidated
    financial position of Green Dot Corporation at July&#160;31,
    2008 and 2009, and the consolidated results of its operations
    and its cash flows for each of the three years in the period
    ended July&#160;31, 2009 in conformity with U.S.&#160;generally
    accepted accounting principles.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    /s/ Ernst &#038; Young LLP
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Los Angeles, California
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    February&#160;26, 2010
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<!-- XBRL,bs -->
<A name='301'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Consolidated
    Balance Sheets</FONT></B>
</DIV>
</A>
<!-- XBRL,body -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="68%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>October&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Pro Forma<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Actual</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(Note 2)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" nowrap align="center" valign="bottom">
    <B>(In thousands, except per share data)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD colspan="17" align="center" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Assets</B>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Current assets:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Unrestricted cash and cash equivalents
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    39,285
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    26,564
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    43,242
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Settlement assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,445
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35,570
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,813
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Accounts receivable, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,080
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,967
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,663
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Prepaid expenses and other assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,700
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,317
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,840
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Income taxes receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,088
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Net deferred tax assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,446
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,681
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,681
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total current assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82,044
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94,099
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    130,239
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Restricted cash
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,328
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,367
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,381
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Accounts receivable, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,357
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,456
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Prepaid expenses and other assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    829
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,115
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,111
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Property and equipment, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,096
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,679
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,908
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Deferred expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,949
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,652
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,533
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    97,246
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    123,269
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    161,628
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD colspan="17">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="17" align="center" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Liabilities, Redeemable Convertible Preferred Stock and
    Stockholders&#146; Equity</B>
</DIV>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Current liabilities:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Accounts payable and accrued liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,464
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,359
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,035
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Settlement obligations
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,445
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35,570
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,813
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Amounts due to card issuing banks for overdrawn accounts
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23,578
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,269
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,809
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Other accrued liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,360
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,865
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,091
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Deferred revenue
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,351
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,759
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Income tax payable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    337
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,565
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total current liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63,198
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    76,804
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    104,072
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Other accrued liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    571
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,561
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,465
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Deferred revenue
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    169
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    138
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    109
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net deferred tax liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,024
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,528
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,528
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65,962
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    81,031
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    108,174
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Commitments and contingencies (Note&#160;14)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Series&#160;D redeemable convertible preferred stock,
    $0.001&#160;par value:<BR>
    2,926&#160;shares authorized, issued and outstanding at
    July&#160;31, 2008, reported at redemption value; no shares
    issued and outstanding at July&#160;31, 2009 or October&#160;31,
    2009 (unaudited)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,816
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Stockholders&#146; equity:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Convertible preferred stock, $0.001&#160;par value:
    24,372&#160;shares authorized, 23,837&#160;shares issued and
    outstanding as of July&#160;31, 2008; 25,554&#160;shares
    authorized, 24,942&#160;shares issued and outstanding as of
    July&#160;31, 2009 and October&#160;31, 2009 (unaudited);
    liquidation preference of $18,345 as of July&#160;31, 2008 and
    $31,322 as of July&#160;31, 2009 and October&#160;31, 2009
    (unaudited)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,345
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,322
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,322
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Common stock, $0.001&#160;par value: 50,000&#160;shares
    authorized as of July&#160;31, 2008 and 2009 and
    October&#160;31, 2009 (unaudited); 11,753, 12,040 and
    12,076&#160;shares issued and outstanding as of July&#160;31,
    2008 and 2009 and October&#160;31, 2009 (unaudited), respectively
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Additional paid-in capital
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,593
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,955
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,822
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35,119
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Related party notes receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,235
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,814
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,869
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,869
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Retained earnings (accumulated deficit)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (12,247
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,763
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,167
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,167
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total stockholders&#146; equity
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,468
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,238
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    53,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Total liabilities, redeemable convertible preferred stock and
    stockholders&#146; equity
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    97,246
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    123,269
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    161,628
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    See notes to consolidated financial statements.
</DIV>
<!-- /XBRL,bs -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<!-- XBRL,op -->
<A name='302'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Consolidated
    Statements of Operations</FONT></B>
</DIV>
</A>
<!-- XBRL,body -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="47%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>October&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" align="center" valign="bottom">
    <B>(In thousands, except per share data)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Card revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    45,717
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    91,233
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    119,356
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    27,635
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    30,532
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Cash transfer revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,419
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,310
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    62,396
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,556
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,807
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Interchange revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,488
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,583
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53,064
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,418
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,926
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total operating revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    83,624
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    168,126
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    234,816
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,609
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    66,265
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Sales and marketing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,838
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    69,577
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    75,786
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,538
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,165
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Compensation and benefits expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,610
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,303
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,096
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,191
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,067
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Processing expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,809
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,944
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,320
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,297
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,053
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Other general and administrative expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,212
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,124
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,944
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,747
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,103
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82,469
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    138,948
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    171,146
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,773
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    48,388
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,155
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29,178
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63,670
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,836
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,877
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interest income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    771
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    665
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    396
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    210
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    60
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interest expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (625
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (247
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Income before income taxes
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,301
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29,596
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    64,065
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,046
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,937
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Income tax expense (benefit)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,346
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,261
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,902
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,219
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,533
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,647
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    17,335
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    37,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,827
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Dividends, accretion, and allocated earnings of preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,157
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (13,650
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (29,000
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,409
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (7,013
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income (loss) allocated to common stockholders
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (510
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,685
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,418
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,391
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 10pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Earnings (loss) per common share:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (0.05
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.34
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.68
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (0.05
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.52
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.22
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Weighted-average common shares issued and outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,757
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,036
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,026
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,060
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Weighted-average diluted common shares issued and outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,154
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,712
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,034
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,318
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Pro forma earnings per common share (unaudited):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.91
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Pro forma weighted-average shares issued and outstanding
    (unaudited):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36,978
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,002
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,654
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,260
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    See notes to consolidated financial statements.
</DIV>
<!-- /XBRL,op -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<!-- XBRL,se -->
<A name='303'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    <BR>
    Consolidated Statements of Changes in Redeemable Convertible<BR>
    Preferred Stock and in Stockholders&#146; Equity (Deficit)<BR>
    </FONT></B>
</DIV>
</A>
<!-- XBRL,body -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 6pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="32%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutterleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutterright -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=09 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=09 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=09 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=09 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=10 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=10 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=10 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=10 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=11 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=11 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=11 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=11 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="30" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Stockholder&#146;s Equity (Deficit)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Redeemable<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Related<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(Accumulated<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Convertible<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Convertible<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Additional<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Party<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Deficit)<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Stockholders&#146;<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Preferred Stock</B>
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Preferred Stock</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Common Stock</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Paid-in<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Notes<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Retained<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Equity<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Capital</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Receivable</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Earnings</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(Deficit)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    Balance at July&#160;31, 2006
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,088
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18,540
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,508
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,318
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (4,020
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (9,695
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6,155
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Exercise of warrants and options
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,361
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,065
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,066
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Issuance of related party notes receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (711
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (711
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Interest on related party notes receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    191
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (191
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Stock-based compensation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    156
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    156
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Issuance of new shares and repurchase
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 18pt">
    of existing shares, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,926
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,701
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (251
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (195
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,675
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,191
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (16,419
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (18,808
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Accretion of redeemable convertible preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,635
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,635
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,635
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,647
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,647
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    Balance at July&#160;31, 2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,926
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,336
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23,837
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,345
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,194
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    539
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,922
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (25,102
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (11,130
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Exercise of options
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,559
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,621
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,623
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Issuance of related party notes receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (120
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (120
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Interest on related party notes receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    193
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (193
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Stock-based compensation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,240
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,240
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Accretion of redeemable convertible preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,480
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,480
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,480
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,335
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,335
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    Balance at July&#160;31, 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,926
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,816
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23,837
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,345
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,753
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,593
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,235
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (12,247
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,468
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Exercise of options
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    308
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    415
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    415
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Issuance of related party notes receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (364
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (364
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Interest on related party notes receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    215
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (215
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Stock-based compensation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,468
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,468
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Accretion of redeemable convertible preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,956
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,956
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,956
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Issuance of new shares and repurchase
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 18pt">
    of existing shares, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,926
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (28,772
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,105
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,977
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (21
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,778
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9,197
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,002
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Exercise of call option on warrants
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,958
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,958
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    Balance at July&#160;31, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,942
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,322
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,040
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,955
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,814
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,763
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,238
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Exercise of options (Unaudited)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Interest on related party notes receivable (Unaudited)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (55
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Stock-based compensation (Unaudited)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    712
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    712
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 12pt">
    Net income (Unaudited)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    Balance at October&#160;31, 2009 (Unaudited)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>&#151;</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>&#151;</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>24,942</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>31,322</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>12,076</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>12</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>3,822</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(5,869</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>24,167</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>$</B>
</TD>
<TD nowrap align="right" valign="bottom">
    <B>53,454  </B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-right: 1px solid #000000; padding-right: 2pt">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    See notes to consolidated financial statements.
</DIV>
<!-- /XBRL,se -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-5
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<!-- XBRL,cf -->
<A name='304'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Consolidated
    Statements of Cash Flows<BR>
    </FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>
</A>
<!-- XBRL,body -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="51%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>October&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Operating activities</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,647
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    17,335
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    37,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,827
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Adjustments to reconcile net income to net cash provided by
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    (used in) operating activities:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 27pt">
    Depreciation and amortization
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,524
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,407
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,593
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,145
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,296
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 27pt">
    Provision for uncollectible overdrawn accounts
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,909
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,135
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,548
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,214
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,486
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 27pt">
    Stock-based compensation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    156
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,240
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,468
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    586
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    712
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 27pt">
    Provision (benefit) for uncollectible trade receivables
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (133
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    61
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    75
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 27pt">
    Impairment of capitalized software
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    405
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    89
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 27pt">
    Deferred income tax (benefit) expense
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,635
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,731
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 27pt">
    Changes in operating assets and liabilities:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 36pt">
    Settlement assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,544
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,033
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (18,125
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (21,049
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (17,243
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 36pt">
    Accounts receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (11,001
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (24,717
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (29,853
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,837
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (7,303
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 36pt">
    Prepaid expenses and other assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (551
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,263
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (903
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (383
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,544
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 36pt">
    Deferred expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (862
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,750
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,297
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (139
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (881
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 36pt">
    Accounts payable and accrued liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,607
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,665
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,170
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    731
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,519
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 36pt">
    Settlement obligations
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,983
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,529
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,125
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,049
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,243
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 36pt">
    Amounts due to card issuing banks for overdrawn accounts
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,888
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,785
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,309
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (11,871
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,540
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 36pt">
    Deferred revenue
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,000
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,394
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (978
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (243
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    326
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 36pt">
    Income taxes payable (receivable)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,527
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,189
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,366
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,126
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,228
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Net cash provided by (used in) operating activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,461
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35,006
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35,297
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,680
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,841
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Investing activities</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Restricted cash
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (260
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (43
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (13,039
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (10
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (14
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Purchase of property and equipment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,298
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,120
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,361
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,219
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,249
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Net cash used in investing activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,558
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,163
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (19,400
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,229
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,263
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Financing activities</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Principal payments on short-term debt
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,584
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,446
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Repayments on line of credit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (148,560
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (76,961
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (12,404
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Borrowings from line of credit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    151,056
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    74,465
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Proceeds from exercise of warrants and options
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    355
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,678
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    110
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Exercise of call option on warrant
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,958
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Issuance of preferred shares and freestanding warrant
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Redemption of preferred and common shares
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (20,109
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (39,770
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Net cash provided by (used in) financing activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    158
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,264
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (28,618
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 8pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Net (decrease) increase in unrestricted cash and cash equivalents
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,939
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,579
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (12,721
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,909
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,678
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Unrestricted cash and cash equivalents, beginning of year
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,645
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,706
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39,285
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39,285
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,564
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Unrestricted cash and cash equivalents, end of year
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,706
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    39,285
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    26,564
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    36,376
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    43,242
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 8pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Cash paid for interest
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    427
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Cash paid for income taxes
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,805
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,104
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    27,403
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    92
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,306
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    See notes to consolidated financial statements.
</DIV>
<!-- /XBRL,cf -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL,NS -->
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


    <A name='305'><B><FONT style="font-family: Arial, Helvetica">Notes
    to Consolidated Financial Statements</FONT></B></A>
</DIV>
</A>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">1.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Organization</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Green Dot Corporation (&#147;we,&#148; &#147;us&#148; and
    &#147;our&#148; refer to Green Dot Corporation and its
    wholly-owned subsidiary, Next Estate Communications, Inc.) is
    one of the leading providers of general purpose reloadable
    prepaid debit cards and cash loading and transfer services in
    the United States. Our products include Green Dot
    MasterCard<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>

    and
    Visa<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>-branded

    prepaid debit cards; several co-branded reloadable prepaid card
    programs; Visa-branded prepaid non-reloadable (gift) cards; and
    our
    MoneyPak<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP>

    and swipe reload proprietary products, collectively referred to
    as our cash transfer products, which enable cash loading and
    transfer services through our Green Dot Network. The Green Dot
    Network enables consumers to use cash to reload our prepaid
    debit cards or to transfer cash to any of our Green Dot Network
    acceptance members, including competing prepaid card programs
    and other online accounts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We market our cards and financial services to banked,
    underbanked, and unbanked consumers in the United States using
    distribution channels other than traditional bank branches, such
    as retailer locations nationwide and the Internet. Our prepaid
    debit cards are issued by third-party issuing banks, and we have
    relationships with several large card issuers including GE Money
    Bank, Columbus Bank and Trust&#160;Company, and National Bank of
    South Carolina. We also have distribution arrangements with many
    large and medium-sized retailers, such as Walmart, Walgreens,
    CVS, Rite Aid, Kroger, 7-Eleven, Radio Shack, Kmart, and Meijer,
    and with various industry resellers, such as Incomm, PaySpot,
    and Coinstar. We refer to participating retailers collectively
    as &#147;our retail distributors.&#148;
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Summary of
    Significant Accounting Policies</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Basis of
    Presentation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have prepared the accompanying consolidated financial
    statements in conformity with accounting principles generally
    accepted in the United States, or GAAP. We have eliminated all
    significant intercompany balances and transactions in
    consolidation. Subsequent to July&#160;31, 2009, we intend to
    issue our consolidated financial statements as of
    December&#160;31, 2009 and for the five-month period then ended.
    Thereafter, we intend to issue our consolidated financial
    statements on a calendar year basis.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We consider an operating segment to be any component of our
    business whose operating results are regularly reviewed by our
    chief operating decision-maker to make decisions about resources
    to be allocated to the segment and assess its performance based
    on discrete financial information. Our Chief Executive Officer,
    our chief operating decision-maker, reviews our operating
    results on an aggregate basis and manages our operations and the
    allocation of resources as a single operating
    segment&#160;&#150; prepaid cards and related services.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Unaudited Pro
    Forma Information</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In February 2010, our board of directors authorized us to file a
    Registration Statement with the Securities and Exchange
    Commission, or the SEC, to permit us to proceed with an initial
    public offering of our common stock. Upon the consummation of
    the initial public offering contemplated, all of the outstanding
    shares of convertible preferred stock will automatically convert
    into shares of common stock. We prepared unaudited pro forma
    stockholders&#146; equity as of October&#160;31, 2009 assuming
    the conversion of the convertible preferred stock outstanding as
    of that date into 24,941,521&#160;shares of common stock. The
    pro forma stockholders&#146; equity as of October&#160;31, 2009
    reflects the impact of the conversion as if the offering was
    consummated on October&#160;31, 2009. We computed unaudited pro
    forma earnings per common share for the year ended July&#160;31,
    2009 and the three months ended October&#160;31, 2009 using the
    weighted average number of common shares outstanding, including
    the pro forma effect of the conversion of all currently
    outstanding convertible preferred stock into shares of our
    common stock, as if such conversion had occurred at the
    beginning of the respective periods. Our
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Summary of
    Significant Accounting Policies (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    pro forma earnings per common share calculation for the year
    ended July&#160;31, 2009 also included the effect of the
    redemption of our Series&#160;D redeemable convertible preferred
    stock as if that redemption had occurred at the beginning of the
    year ended July&#160;31, 2009.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Unaudited Interim
    Financial Statements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The accompanying unaudited October&#160;31, 2009 consolidated
    balance sheet, the consolidated statement of changes in
    redeemable convertible preferred stock and in stockholders&#146;
    equity (deficit) for the three months ended October&#160;31,
    2009 and the consolidated statements of operations and cash
    flows for the three months ended October&#160;31, 2008 and
    October&#160;31, 2009 and the related interim information
    contained within the notes to the consolidated financial
    statements have been prepared in accordance with the rules and
    regulations of the SEC for interim financial information.
    Accordingly, they do not include all of the information and the
    notes required by GAAP for complete financial statements. In our
    opinion, the unaudited interim consolidated financial statements
    reflect all adjustments, consisting of normal and recurring
    adjustments, necessary for the fair presentation of our
    financial position at October&#160;31, 2009 and results of our
    operations and our cash flows for the three months ended
    October&#160;31, 2008 and 2009. The results for the three months
    ended October&#160;31, 2009 are not necessarily indicative of
    future results.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Recent Accounting
    Pronouncements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In June 2009, the Financial Accounting Standards Board, or FASB,
    approved the Accounting Standards Codification, or ASC, as the
    single source of authoritative accounting and reporting
    standards for all nongovernmental entities, with the exception
    of guidance issued by the SEC and its staff. The FASB ASC is
    effective for interim or annual periods ending after
    September&#160;15, 2009. All existing accounting standards have
    been superseded, and all accounting literature not included in
    the FASB ASC is considered nonauthoritative. Our adoption of
    FASB ASC did not have an impact on our consolidated financial
    statements because it only amends the referencing to existing
    accounting standards.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In May 2009, the FASB issued a new standard for disclosing
    events that occur after the balance sheet date but before the
    financial statements are issued or are available to be issued.
    Additionally, the standard requires companies to disclose
    subsequent events as defined in the standard and to disclose the
    date through which we have evaluated subsequent events. The
    standard is effective for interim and annual periods ending
    after June&#160;15, 2009. Our adoption of the standard did not
    have a material impact on our consolidated financial statements.
    See <I>Note&#160;16&#160;&#151; Subsequent Events </I>for
    additional details.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In April 2009, the FASB issued a new accounting standard that
    requires us to include fair value disclosures of financial
    instruments for each interim and annual period for which
    financial statements are prepared. Our adoption of the standard
    did not have a material impact on our consolidated financial
    statements. See <I>Note&#160;8&#160;&#151; Fair Values of
    Financial Instruments </I>for additional details.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In June 2008, the FASB issued a new accounting standard on
    determining whether instruments granted in share-based payment
    transactions are participating securities prior to vesting and
    therefore need to be included in the earnings allocation in
    calculating earnings per share under the two-class method.
    Unvested share-based payment awards that have non-forfeitable
    rights to dividend or dividend equivalents are treated as a
    separate class of securities in calculating earnings per share.
    The standard is effective for fiscal years beginning after
    December&#160;15, 2008; earlier application was not permitted.
    Our adoption of the standard did not have a material effect on
    our results of operations or earnings per share.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-8
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Summary of
    Significant Accounting Policies (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Use of Estimates
    and Assumptions</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The preparation of financial statements in conformity with GAAP
    requires us to make estimates and assumptions that affect the
    amounts reported in the consolidated financial statements,
    including the accompanying notes. We base our estimates and
    assumptions on historical factors, current circumstances, and
    the experience and judgment of management. We evaluate our
    estimates and assumptions on an ongoing basis. Actual results
    could differ from those estimates.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Unrestricted Cash
    and Cash Equivalents</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We consider all unrestricted highly liquid investments with an
    original maturity of three months or less to be unrestricted
    cash and cash equivalents.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Restricted
    Cash</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We maintain restricted deposits in bank accounts to support our
    line of credit.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Settlement Assets
    and Obligations</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our retail distributors collect customer funds for purchases of
    new cards and cash transfer products and then remit these funds
    directly to bank accounts established on behalf of those
    customers by the third-party card issuing banks. The remittance
    of these funds by our retail distributors takes an average of
    three business days.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Settlement assets represent the amounts due from our retail
    distributors for customer funds collected at the point of sale
    that have not yet been remitted to the card issuing banks.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Settlement obligations represent the amounts due from us to the
    card issuing banks for funds collected but not yet remitted by
    our retail distributors and not funded by our line of credit.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have no control over or access to customer funds remitted by
    our retail distributors to the bank accounts. Customer funds
    therefore are not our assets, and we do not recognize them in
    our consolidated financial statements. As of July&#160;31, 2008
    and 2009 and October&#160;31, 2009 (unaudited), total funds held
    in the bank accounts on behalf of our customers totaled
    $86.7&#160;million, $127.5&#160;million and $141.5&#160;million,
    respectively, of which $7.6&#160;million, $13.0&#160;million and
    $11.6&#160;million, respectively, related to funds for prepaid
    debit cards and cash transfer products that had not yet been
    activated by the customers.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Accounts
    Receivable, Net</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Accounts receivable is comprised principally of overdrawn
    account balances due from cardholders, trade accounts
    receivable, new card and cash transfer fees due from card
    issuing banks, other receivables due from card issuing banks,
    and other receivables. We record accounts receivable net of
    reserves for estimated uncollectible accounts.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><I>Overdrawn Account Balances Due from Cardholders and
    Reserve for Uncollectible Overdrawn Accounts</I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Cardholder account overdrafts arise from fee assessments or from
    purchase transactions that we honor, in each case in excess of
    the funds in a cardholder&#146;s account. We are exposed to
    losses from unrecovered cardholder account overdrafts. We
    establish a reserve for uncollectible overdrawn accounts for
    both fees assessed and purchase transactions in excess of a
    cardholder&#146;s account balance. The reserve for uncollectible
    overdrawn accounts represents our estimate of the portion of
    these receivables that will not be recovered. We base our
    estimate of the reserve upon historical overdraft recovery rates
    and our judgment regarding overall adequacy of the reserve. When
    a cardholder account has more than 90&#160;days of inactivity,
    we consider the probability of recovery to be
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-9
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Summary of
    Significant Accounting Policies (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    remote and we charge off the full amount of the overdrawn
    account balance. We include our provision for uncollectible
    overdrawn accounts related to fees as an offset to card revenues
    in the accompanying consolidated statements of operations. We
    include our provision for uncollectible overdrawn accounts
    related to purchase transactions as other general and
    administrative expenses in the accompanying consolidated
    statements of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Property and
    Equipment</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We carry our property and equipment at cost less accumulated
    depreciation and amortization. We generally compute depreciation
    on property and equipment using the straight-line method over
    the estimated useful lives of the assets, except for
    internal-use software in development, which is not depreciated.
    We generally compute amortization on tenant improvements using
    the straight-line method over the shorter of the related lease
    term or estimated useful lives of the improvements. We expense
    expenditures for maintenance and repairs as incurred.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The estimated useful lives of the respective classes of assets
    are as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Computer equipment, furniture and office equipment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    3 &#150; 4&#160;years
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Computer software purchased
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    3&#160;years
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Capitalized internal-use software
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    2&#160;years
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Tenant improvements
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Shorter of the useful life or the lease term
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We capitalize certain internal and external costs incurred to
    develop internal-use software during the application development
    stage. We also capitalize the cost of specified upgrades and
    enhancements to internal-use software that result in additional
    functionality. Once a development project is substantially
    complete and the software is ready for its intended use, we
    begin depreciating these costs on a straight-line basis over the
    internal-use software&#146;s estimated useful life.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Impairment of
    Long Lived Assets</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We evaluate long-lived assets for impairment whenever events or
    changes in circumstances indicate that the carrying amount of an
    asset may not be recoverable. If the sum of expected
    undiscounted future cash flows from an asset is less than the
    carrying amount of the asset, we recognize an impairment loss.
    We measure the loss as the amount by which the carrying amount
    exceeds its fair value calculated using the present value of
    estimated net future cash flows. Included in other general and
    administrative expenses in our consolidated statements of
    operations for the year ended July&#160;31, 2009 and three
    months ended October&#160;31, 2008 (unaudited) and 2009
    (unaudited) were $405,000, $89,000 and $36,000 of recognized
    impairment losses on internal-use software. We identified no
    indicators of impairment during the years ended July&#160;31,
    2007 and 2008.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Amounts Due to
    Issuing Banks for Overdrawn Accounts</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our card issuing banks fund overdrawn cardholder account
    balances on our behalf. Amounts funded are due from us to the
    issuing banks based on terms specified in the agreements with
    the card issuing banks. Generally, we expect to settle these
    obligations within 12&#160;months.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Amounts Due Under
    Line of Credit</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    After a consumer purchases a new card or cash transfer product
    at a retail location, we make the funds immediately available
    once the consumer goes online or calls a toll-free number to
    activate the new card or add funds from a cash transfer product.
    Since our retail distributors do not remit funds to our card
    issuing banks, on average, for three business days, we maintain
    a line of credit with certain
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-10
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Summary of
    Significant Accounting Policies (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    card issuing banks that is available to fund any cash
    requirements related to the timing difference between funds
    remitted by our retail distributors to the card issuing banks
    and funds utilized by consumers. We repay any draws on this line
    of credit when our retail distributors remit the funds to the
    card issuing banks&#146; bank accounts.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Revenue
    Recognition</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our operating revenues consist of card revenues, cash transfer
    revenues, and interchange revenues. We recognize revenue when
    the price is fixed or determinable, persuasive evidence of an
    arrangement exists, the product is sold or the service is
    performed, and collectibility of the resulting receivable is
    reasonably assured.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Card revenues consist of new card fees, monthly maintenance
    fees, ATM fees, and other revenues. We charge new card fees when
    a consumer purchases a new card in a retail store. We defer and
    recognize new card fees on a straight-line basis over our
    average card lifetime, which is currently nine months for our
    reloadable prepaid debit cards and six months for our
    non-reloadable cards. We determine the average card lifetime
    based on our recent historical data for comparable products. We
    measure card lifetime for our reloadable prepaid debit cards as
    the period of time, inclusive of reload activity, between sale
    (or activation) of the card and the date of the last positive
    balance. We measure the card lifetime for our non-reloadable
    (gift) cards as the redemption period during which cardholders
    perform the substantial majority of their transactions. We
    report the unearned portion of new card fees as a component of
    deferred revenue in our consolidated balance sheets. We charge
    maintenance fees on a monthly basis pursuant to the terms and
    conditions in the applicable cardholder agreements. We recognize
    monthly maintenance fees ratably over the month for which they
    are assessed. We charge ATM fees to cardholders when they
    withdraw money or conduct other transactions at ATMs in
    accordance with the terms and conditions in the applicable
    cardholder agreements. We recognize ATM fees when the withdrawal
    is made by the cardholder, which is the same time the fees are
    assessed. Other revenues consist of customer service fees, and
    fees associated with optional products or services, which we
    generally offer to consumers during the card activation process.
    We charge customer service fees pursuant to the terms and
    conditions in the applicable cardholder agreements and recognize
    them when the underlying services are completed. Optional
    products and services that generate other revenues include
    providing a second card for an account, expediting delivery of
    the personalized debit card that replaces the temporary card
    obtained at the retail store, and upgrading a cardholder account
    to one of our upgrade programs. We generally recognize revenue
    related to optional products and services when the underlying
    services are completed, but we treat revenues related to our
    upgrade programs in a manner similar to new card fees and
    monthly maintenance fees.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We generate cash transfer revenues when consumers purchase our
    cash transfer products (reload services) in a retail store. We
    recognize these revenues when the cash transfer transactions are
    completed, generally within three business days from the time of
    sale of these products.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We earn interchange revenues from fees remitted by the
    merchant&#146;s bank, which are based on rates established by
    Visa and MasterCard, when cardholders make purchase transactions
    using our cards. We recognize interchange revenues as these
    transactions occur.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We report our different types of revenues on a gross or net
    basis based on our assessment of whether we act as a principal
    or an agent in the transaction. To the extent we act as a
    principal in the transaction, we report revenues on a gross
    basis. In concluding whether or not we act as a principal or an
    agent, we evaluate whether we have the substantial risks and
    rewards under the terms of the revenue-generating arrangements,
    whether we are the party responsible for fulfillment of the
    services
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-11
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Summary of
    Significant Accounting Policies (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    purchased by the cardholders, and other factors. For all of our
    significant revenue arrangements, including reloadable and
    non-reloadable cards, we record revenues on a gross basis.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Generally, customers have limited rights to a refund of a new
    card fee or a cash transfer fee. We have elected to recognize
    revenues prior to the expiration of the refund period, but
    reduce revenues by the amount of expected refunds, which we
    estimate based on actual historical refunds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    On occasion, we enter into incentive agreements with our retail
    distributors designed to increase product acceptance and sales
    volume. We capitalize incentive payments that we make in
    instances where we receive a preferred product placement for a
    negotiated period of time. We amortize capitalized amounts as a
    reduction of revenues over that period.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Sales and
    Marketing Expenses</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Sales and marketing expenses primarily consist of sales
    commissions, advertising and marketing expenses, and the costs
    of manufacturing and distributing card packages, placards, and
    promotional materials to our retail distributors&#146; locations
    and providing personalized debit cards to consumers who have
    activated their cards.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We pay our retail distributors commissions based on sales of our
    prepaid debit cards and cash transfer products in their stores.
    We defer and expense commissions related to new cards sales
    ratably over the average card lifetime, which is currently nine
    months for our reloadable prepaid debit cards and six months for
    our non-reloadable cards. We expense commissions related to cash
    transfer products when the cash transfer transactions are
    completed. Sales commissions were $26.2&#160;million,
    $40.7&#160;million, and $50.8&#160;million for the years ended
    July&#160;31, 2007, 2008, and 2009, respectively, and
    $12.0&#160;million and $11.6&#160;million for the three months
    ended October&#160;31, 2008 (unaudited) and 2009 (unaudited),
    respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We expense costs for the production of advertising as incurred.
    The cost of media advertising is expensed when the advertising
    first takes place. Advertising and marketing expenses were
    $7.2&#160;million, $13.6&#160;million, and $7.0&#160;million for
    the years ended July&#160;31, 2007, 2008, and 2009,
    respectively, and $5.2&#160;million and $0.8&#160;million for
    the three months ended October&#160;31, 2008 (unaudited) and
    2009 (unaudited), respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We record the costs associated with card packages and placards
    as prepaid expenses, and we record the costs associated with
    personalized debit cards as deferred expenses. We recognize the
    prepaid cost of card packages and placards over the related
    sales period, currently six months, and we amortize the deferred
    cost of personalized cards, when activated, over the average
    card lifetime, currently nine months. Our manufacturing and
    distributing costs were $5.5&#160;million, $15.3&#160;million,
    and $18.0&#160;million for the years ended July&#160;31, 2007,
    2008, and 2009, respectively, and $3.3&#160;million and
    $5.7&#160;million for the three months ended October&#160;31,
    2008 (unaudited) and 2009 (unaudited), respectively. Included in
    our manufacturing and distributing costs were shipping and
    handling costs of $0.5&#160;million, $1.3&#160;million, and
    $2.3&#160;million for the years ended July&#160;31, 2007, 2008,
    and 2009, respectively, and $0.5&#160;million and
    $0.7&#160;million for the three months ended October&#160;31,
    2008 (unaudited) and 2009 (unaudited), respectively. Also
    included in our manufacturing and distributing costs was the
    liability that we incur for use tax to various states related to
    purchases of materials since no sales tax is charged to
    customers when new cards or cash transfer transactions are
    purchased.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Stock-Based
    Compensation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Effective August&#160;1, 2006, we adopted a new accounting
    standard related to stock-based compensation. We adopted the new
    standard using the prospective transition method, which required
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-12
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Summary of
    Significant Accounting Policies (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    compensation expense to be recognized on a prospective basis,
    and therefore prior period financial statements do not include
    the impact of our adoption of this standard. Compensation
    expense recognized relates to stock options granted, modified,
    repurchased, or cancelled on or after August&#160;1, 2006. We
    record compensation expense using the fair value method of
    accounting. We base compensation expense on per option fair
    values, estimated at the grant date using the Black-Scholes
    option-pricing model. We recognize compensation expense for
    awards with only service conditions that have graded vesting
    schedules on a straight-line basis over the vesting period of
    the award. Vesting is based upon continued service to our
    company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We continued to account for stock options granted to employees
    prior to August&#160;1, 2006, using the intrinsic value method.
    Under the intrinsic value method, compensation associated with
    stock awards to employees was determined as the difference, if
    any, between the fair value of the underlying common stock on
    the grant date, and the price an employee must pay to exercise
    the award. For additional information, refer to
    <I>Note&#160;11&#160;&#151; Stock-Based Compensation</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We also measure the fair value of equity instruments issued to
    non-employees using the Black-Scholes option-pricing model and
    recognize related expense in the same periods that the goods or
    services are received. For additional information, refer to
    <I>Note&#160;10&#160;&#151; Redeemable Convertible Preferred
    Stock and Stockholders&#146; Equity (Deficit)</I>.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Income
    Taxes</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our income tax expense is comprised of current and deferred
    income tax expense. Current income tax expense approximates
    taxes to be paid or refunded for the current period. Deferred
    income tax expense results from the changes in deferred tax
    assets and liabilities during the periods. These gross deferred
    tax assets and liabilities represent decreases or increases in
    taxes expected to be paid in the future because of future
    reversals of temporary differences between the bases of assets
    and liabilities as measured by tax laws and their bases as
    reported in our consolidated financial statements. We also
    recognize deferred tax assets for tax attributes such as net
    operating loss carryforwards and tax credit carryforwards. We
    record valuation allowances to reduce deferred tax assets to the
    amounts we conclude are more
    <FONT style="white-space: nowrap">likely-than-not</FONT>
    to be realized in the foreseeable future.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We recognize and measure income tax benefits based upon a
    two-step model: 1)&#160;a tax position must be more
    <FONT style="white-space: nowrap">likely-than-not</FONT>
    to be sustained based solely on its technical merits in order to
    be recognized, and 2)&#160;the benefit is measured as the
    largest dollar amount of that position that is more
    <FONT style="white-space: nowrap">likely-than-not</FONT>
    to be sustained upon settlement. The difference between the
    benefit recognized for a position and the tax benefit claimed on
    a tax return is referred to as an unrecognized tax benefit. We
    accrue income tax related interest and penalties, if applicable,
    within income tax expense.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    For additional information, refer to <I>Note&#160;6&#160;&#151;
    Income Taxes</I>.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Earnings (Loss)
    Per Common Share</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The holders of our preferred stock are entitled to participate
    in dividends and earnings of our company. Therefore, we apply
    the two-class method in calculating earnings per common share.
    The two-class method requires net income, after deduction of any
    preferred stock dividends, deemed dividends on preferred stock
    redemptions, and accretions in the carrying value on preferred
    stock, to be allocated between the common and preferred
    stockholders based on their respective rights to receive
    dividends, whether or not declared. Basic earnings (loss) per
    common share is then calculated by dividing net income (loss)
    allocated to common stockholders, after the reduction for
    earnings allocated to preferred stock, by the weighted-average
    common shares issued and outstanding.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-13
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Summary of
    Significant Accounting Policies (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In addition, for diluted earnings per common share, the
    conversion of convertible preferred stock can affect net income
    (loss) allocated to common stockholders. Where the effect of
    this conversion is dilutive, we adjust net income (loss)
    allocated to common stockholders by the associated preferred
    dividends. We divide adjusted net income by the weighted-average
    number of common shares issued and outstanding for each period
    plus amounts representing the dilutive effect of outstanding
    stock options and outstanding warrants, and the dilution
    resulting from the conversion of convertible preferred stock, if
    applicable. We exclude the effects of convertible preferred
    stock and outstanding warrants and stock options from the
    computation of diluted earnings (loss) per common share in
    periods in which the effect would be antidilutive. We calculate
    dilutive potential common shares using the treasury stock
    method, if-converted method and the two-class method, as
    applicable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    For additional information, refer to <I>Note&#160;12
    </I>&#151;&#160;<I>Earnings Per Common Share</I>.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">3.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Accounts
    Receivable</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Accounts receivable consisted of the following (in thousands):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="66%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>July 31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>October&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Overdrawn account balances due from cardholders
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    9,231
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,165
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,774
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Reserve for uncollectible overdrawn accounts
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,277
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,448
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (7,004
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net overdrawn account balances due from cardholders
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,954
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,717
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,770
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 10pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trade receivables
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,887
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,727
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,533
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Reserve for uncollectible trade receivables
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (248
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (114
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (90
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net trade receivables
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,639
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,613
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,443
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 10pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    New card fees and cash transfer fees due from card issuing banks
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,660
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,416
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,781
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other receivables due from card issuing banks
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,870
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,996
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other receivables
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    827
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,708
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,129
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Accounts receivable, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    14,080
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    21,324
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    22,119
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Activity in the reserve for uncollectible overdrawn accounts
    consisted of the following (in thousands):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="54%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>July 31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>October&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance, beginning of the year
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,104
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,718
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,277
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6,448
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Provision for uncollectible overdrawn accounts:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Fees
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,519
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,652
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,187
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,947
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Purchase transactions
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,390
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,483
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,361
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    539
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Charge-offs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (7,295
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (13,576
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (21,377
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,930
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance, end of year
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,718
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,277
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6,448
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,004
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-14
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- XBRL,n -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">4.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Property and
    Equipment</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Property and equipment consisted of the following (in thousands):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="64%">&nbsp;</TD>         <!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>  <!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>    <!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>    <!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>     <!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>  <!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>    <!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>    <!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>     <!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>  <!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>    <!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>    <!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>     <!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>October&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Computer equipment, furniture, and office equipment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6,296
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,812
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,624
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Computer software purchased
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,062
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,879
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,213
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Capitalized internal-use software
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,470
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,078
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,402
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Tenant improvements
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    882
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,097
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,126
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,710
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,866
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27,365
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Less accumulated depreciation and amortization
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (11,614
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (16,187
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (17,457
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Property and equipment, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,096
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,679
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    9,908
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Depreciation and amortization expense was $3.5&#160;million,
    $4.4&#160;million, and $4.6&#160;million for the years ended
    July&#160;31, 2007, 2008, and 2009, respectively, and
    $1.1&#160;million and $1.3&#160;million for the three months
    ended October&#160;31, 2008 (unaudited) and 2009 (unaudited),
    respectively. Included in those amounts are depreciation expense
    related to internal-use software of $1.7&#160;million,
    $2.4&#160;million, and $2.5&#160;million for the years ended
    July&#160;31, 2007, 2008, and 2009, respectively, and
    $0.6&#160;million and $0.7&#160;million for the three months
    ended October&#160;31, 2008 (unaudited) and 2009 (unaudited),
    respectively. The net carrying value of capitalized internal-use
    software was $3.0&#160;million, $3.6&#160;million,
    $4.7&#160;million and $5.3&#160;million at July&#160;31, 2007,
    2008, and 2009 and October&#160;31, 2009 (unaudited),
    respectively.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">5.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Related Party
    Transactions</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We loaned $3.0&#160;million in March 2004 and $0.8&#160;million
    in February 2006 to our current Chief Executive Officer bearing
    interest at rates of 3.5% and 4.5%, respectively, compounded
    semiannually. All principal and unpaid interest outstanding
    under the loans is due in March 2011. The loans are
    collateralized by 2,500,000&#160;shares of our common stock
    owned by the officer and pledged under a stock pledge agreement.
    We classified the outstanding balance of these loans, including
    capitalized interest of $575,000, $735,000 and $776,000 at
    July&#160;31, 2008 and 2009 and October&#160;31, 2009
    (unaudited), respectively, as a reduction in stockholders&#146;
    equity. We recorded interest on these loans of $150,000,
    $155,000, and $160,000 for the years ended July&#160;31, 2007,
    2008, and 2009, respectively, and $40,000 and $41,000 for the
    three months ended October&#160;31, 2008 (unaudited) and 2009
    (unaudited), respectively, as additional
    <FONT style="white-space: nowrap">paid-in-capital.</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    During the three-year period ended July&#160;31, 2009, we loaned
    an aggregate amount of $1.1&#160;million to an executive to
    purchase common stock. The $1.1&#160;million was loaned in seven
    installments, each installment ranging from $18,000 to $622,000.
    The interest rate on the loan is specified for each installment
    and ranges from 2.72% to 5.14%, compounded semiannually. All
    principal and unpaid interest outstanding under the loan is due
    in May 2013. The loan is collateralized by 898,000&#160;shares
    of our common stock owned by the officer and a full recourse
    promissory note. We classified the outstanding balance of the
    loan, including capitalized interest of $77,000, $127,000 and
    $140,000 at July&#160;31, 2008 and 2009 and October&#160;31,
    2009 (unaudited), respectively, as a reduction in
    stockholders&#146; equity. We recorded interest on these loans
    of $41,000, $36,000, and $50,000 for the years ended
    July&#160;31, 2007, 2008, and 2009, respectively, and $10,000
    and $13,000 for the three months ended October&#160;31, 2008
    (unaudited) and 2009 (unaudited), respectively, as additional
    <FONT style="white-space: nowrap">paid-in-capital.</FONT>
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-15
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">5.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Related Party
    Transactions (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We loaned $120,000 in February 2008 to our current Chief
    Financial Officer to purchase common stock. The loan bears an
    interest rate of 3.48%, compounded semiannually. All principal
    and unpaid interest outstanding under the loan is due in
    February 2015. The loan is collateralized by 85,000&#160;shares
    of our common stock owned by the officer and a full recourse
    promissory note. We classified the outstanding balance of the
    loan, including capitalized interest of $2,000, $7,000 and
    $8,000 at July&#160;31, 2008 and 2009 and October&#160;31, 2009
    (unaudited), respectively, as a reduction in stockholders&#146;
    equity. We recorded interest on the loan of $2,000 and $5,000
    for the years ended July&#160;31, 2008 and 2009, respectively,
    and $1,000 and $1,000 for the three months ended
    October&#160;31, 2008 (unaudited) and 2009 (unaudited),
    respectively, as additional
    <FONT style="white-space: nowrap">paid-in-capital.</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As discussed in <I>Note&#160;16&#160;&#151; Subsequent
    Events</I>, all of these related party notes receivable were
    repaid in full subsequent to October&#160;31, 2009.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">6.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Income
    Taxes</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The components of income tax expense (benefit) for the years
    ended July&#160;31, 2007, 2008, and 2009 were as follows (in
    thousands):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="69%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July 31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B> 2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Current:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Federal
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (629
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    9,611
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    22,645
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    State
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (82
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,610
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,988
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Current income tax expense (benefit)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (711
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,221
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,633
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Deferred:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Federal
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,121
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    74
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,662
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    State
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (514
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (34
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (69
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Deferred income tax expense (benefit)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,635
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,731
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Income tax expense (benefit)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (3,346
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,261
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    26,902
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Income tax expense (benefit) for the years ended July&#160;31,
    2007, 2008 and 2009 varied from the amount computed by applying
    the federal statutory income tax rate to income before income
    taxes. A reconciliation between the expected federal income tax
    expense using the federal statutory tax rate of 35% and our
    actual income tax expense (benefit) for the years ended
    July&#160;31, 2007, 2008 and 2009 was as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="72%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    U.S. federal income tax
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    State income taxes, net of federal benefit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Change in valuation allowance
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (288.9
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9.4
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Income tax expense (benefit)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (257.2
</TD>
<TD nowrap align="left" valign="bottom">
    )%
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Income tax expense was $4.2&#160;million and $7.5&#160;million
    for the three months ended October&#160;31, 2008 (unaudited) and
    2009 (unaudited), respectively, with an effective tax rate of
    42%. The effective tax rate for the three months ended
    October&#160;31, 2008 (unaudited) and 2009 (unaudited) differ
    from
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-16
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">6.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Income Taxes
    (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    the expected federal statutory tax rate of 35% primarily due to
    state income taxes, net of the federal benefit.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The tax effects of temporary differences that give rise to
    significant portions of our deferred tax assets and liabilities
    were as follows (in thousands):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="81%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Deferred tax assets:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Reserve for overdrawn accounts
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,102
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,827
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    State income taxes
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    696
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,898
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Stock-based compensation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    600
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,002
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Other
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    648
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    956
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total deferred tax assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,046
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,683
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Deferred tax liabilities:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Internal-use software costs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (975
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,019
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Deferred expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,572
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (364
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Property and equipment, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (77
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (147
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total deferred tax liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,624
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,530
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net deferred tax assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,422
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,153
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Total net deferred tax assets and liabilities are included in
    our consolidated balance sheets as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="81%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Current net deferred tax assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,446
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,681
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Noncurrent net deferred tax liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,024
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,528
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net deferred tax assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,422
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,153
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In assessing whether a valuation allowance is needed for our
    deferred tax assets, we consider whether it is more
    <FONT style="white-space: nowrap">likely-than-not</FONT>
    that some portion or all of the deferred tax assets will not be
    realized. The ultimate realization of our deferred tax assets is
    dependent upon our generation of sufficient taxable income of
    the appropriate character during the periods in which those
    temporary differences become deductible. We consider the
    scheduled reversal of deferred tax liabilities and projected
    future taxable income in making this assessment. Based upon the
    level of our historical taxable income and projections of our
    future taxable income over the periods in which the temporary
    differences resulting in the deferred tax assets are deductible,
    we believe it is more likely than not that we will realize the
    benefits of our deferred tax assets. Accordingly, we recorded no
    valuation allowance as of July&#160;31, 2008 and 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    During the year ended July&#160;31, 2008, we utilized
    approximately $2.8&#160;million of federal and approximately
    $2.7&#160;million of state net operating loss carryforwards. As
    of July&#160;31, 2009, we have no unutilized net operating loss
    carryforwards.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In accounting for income taxes, we followed the guidance related
    to uncertainty in income taxes. The guidance prescribes a
    comprehensive framework for the financial statement recognition,
    measurement, presentation, and disclosure of uncertain income
    tax positions that we have taken or anticipate taking in a tax
    return, and includes guidance on de-recognition, classification,
    interest and
</DIV>
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<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-17
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">6.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Income Taxes
    (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    penalties, accounting in interim periods, and transition rules.
    We have concluded that we have no significant unrecognized tax
    benefits. We are subject to examination by the Internal Revenue
    Service, or IRS, and various state tax authorities. Our
    consolidated federal income tax returns for the years ended
    July&#160;31, 2005 and 2008 have been examined by the IRS, and
    there have been no material changes in our tax liabilities for
    those years. We generally remain subject to examination of our
    federal income tax returns for the year ended July&#160;31, 2006
    and later years. We generally remain subject to examination of
    our various state income tax returns for a period of four to
    five years from the respective dates the returns were filed.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">7.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Borrowing
    Agreements</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In March 2009, we increased the balance available on our line of
    credit from $12.0&#160;million to $15.0&#160;million. This line
    of credit matures on March&#160;24, 2010, and bears interest at
    LIBOR (as published in <I>The Wall Street Journal</I>) plus
    1.50%. The line of credit is collateralized by substantially all
    of our assets, including a restricted cash deposit at the
    lending institution of $15.0&#160;million. There was no
    outstanding borrowing on this line of credit at July&#160;31,
    2008 and 2009 or October&#160;31, 2009 (unaudited).
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">8.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Fair Values of
    Financial Instruments</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our financial instruments, including unrestricted cash and cash
    equivalents, restricted cash, settlement assets and obligations,
    accounts receivable, certain other assets, accounts payable, and
    other accrued liabilities, are short-term, and, accordingly, we
    believe their carrying amounts approximate their respective fair
    values.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">9.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Concentrations of
    Credit Risk</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Financial instruments that subject us to concentration of credit
    risk consist primarily of unrestricted cash and cash
    equivalents, restricted cash, accounts receivable, and
    settlement assets. We deposit our unrestricted cash and cash
    equivalents and our restricted cash with regional and national
    banking institutions, including certain of our card issuing
    banks, that we periodically monitor and evaluate for
    creditworthiness. Credit risk for our accounts receivable is
    concentrated with card issuing banks and our customers, and this
    risk is mitigated by the relatively short collection period and
    our large customer base. We do not require or maintain
    collateral for accounts receivable. We maintain reserves for
    uncollectible overdrawn accounts and uncollectible trade
    receivables. Credit risk for our settlement assets is
    concentrated with our retail distributors, which we periodically
    monitor.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">10.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Redeemable
    Convertible Preferred Stock and Stockholders&#146; Equity
    (Deficit)</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Redeemable
    Convertible Preferred Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In October 2006, we entered into an agreement with a card
    issuing bank to provide a co-branded GPR card program with a
    major retail distributor. We also entered into equity financing
    transactions with the bank and an affiliated investment entity,
    under which we issued a warrant to purchase 500,000&#160;shares
    of our common stock in October 2006 and 2.9&#160;million shares
    of Series&#160;D redeemable convertible preferred stock, or
    Series&#160;D, in December 2006. We received cash consideration
    of $20.0&#160;million from the equity financing transactions.
    The holder of Series&#160;D was entitled to receive
    noncumulative dividends at a per annum rate of $0.547 per share
    and to participate in dividends on common stock on an
    as-converted basis, subject to the declaration by our board of
    directors out of funds legally available. Series&#160;D was
    redeemable for cash at the option of the holder on the seventh
    anniversary of its issuance. Series&#160;D was also convertible
    into our common stock any time prior to redemption, at the
    option of the holder, based on a conversion ratio. In the event
    of any liquidation,
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-18
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL,n -->
<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <BR>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">10.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Redeemable
    Convertible Preferred Stock and Stockholders&#146; Equity
    (Deficit) (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body --><DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    dissolution or winding up of our company, the holder of
    Series&#160;D was entitled to receive an amount equal to $6.834
    per share plus 20% per annum from the date of issuance.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The freestanding warrant we issued entitled the holder to
    purchase 500,000&#160;shares of our common stock at a per share
    price of $6.834 any time prior to the earliest of: a)&#160;the
    date of our initial public offering; b)&#160;the date of a
    change in control of our company; or c)&#160;October&#160;27,
    2013. The warrant was not redeemable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We allocated the proceeds from the issuance of the Series&#160;D
    and the freestanding warrant to these instruments on a relative
    fair value basis. The initial allocated value of the warrant
    calculated using an option-pricing model was $1.3&#160;million.
    As the warrant allowed settlement only in the underlying common
    stock, it was recorded at its initial allocated value as a
    component of additional paid-in capital.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Due to the nature of the redemption feature and other
    provisions, we classified Series&#160;D as temporary equity at
    its initial allocated value of $18.7&#160;million. We determined
    that Series&#160;D did not contain any beneficial conversion
    features. We accreted the carrying value of the stock to its
    redemption value at each reporting period with a charge to
    retained earnings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    On December&#160;19, 2008, we entered into an agreement with the
    sole holder of Series&#160;D for an early redemption of the
    2,926,458 outstanding shares. The agreed redemption value was
    $39.2&#160;million, or $13.38 per share, which we paid in cash
    on December&#160;19, 2008. Upon redemption, the Series&#160;D
    preferred shares were canceled.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In addition, on December&#160;19, 2008, we purchased a call
    option, which entitled us to purchase the freestanding warrant
    on 500,000&#160;shares of common stock at an exercise price of
    approximately $2.0&#160;million. The call option was exercisable
    any time during the period March&#160;1, 2009 to
    September&#160;1, 2009. In June 2009, we exercised the call
    option and repurchased the warrant.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Convertible
    Preferred Stock</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our convertible preferred stock at July&#160;31, 2008 and 2009
    and October&#160;31, 2009 (unaudited) consisted of the following
    (in thousands):
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">July&#160;31,
    2008</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="45%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="12%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Proceeds Net of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Number of Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Liquidation<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Issuance<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Series</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Authorized</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Outstanding</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Costs</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Series&#160;A
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,520
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,481
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,953
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,899
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Series&#160;B
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,197
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,177
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,186
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,008
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Series&#160;C
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,114
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,939
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,230
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,136
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">Series&#160;C-1</FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,541
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,240
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,372
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23,837
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18,345
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    18,019
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-19
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL,n -->
<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <BR>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">10.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Redeemable
    Convertible Preferred Stock and Stockholders&#146; Equity
    (Deficit) (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body --><DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">July&#160;31,
    2009</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="45%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="12%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Proceeds Net of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Number of Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Liquidation<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Issuance<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Series</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Authorized</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Outstanding</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Costs</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Series&#160;A
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,520
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,930
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,877
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Series&#160;B
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,197
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,177
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,186
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,008
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Series&#160;C
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,114
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,939
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,230
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,136
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">Series&#160;C-1</FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,541
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,240
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">Series&#160;C-2</FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,182
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,182
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,979
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,554
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,942
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    31,322
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    30,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">October&#160;31,
    2009 (Unaudited)</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="45%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="12%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Proceeds Net of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Number of Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Liquidation<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Issuance<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Series</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Authorized</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Outstanding</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Costs</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Series&#160;A
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,520
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,930
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,877
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Series&#160;B
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,197
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,177
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,186
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,008
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Series&#160;C
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,114
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,939
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,230
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,136
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">Series&#160;C-1</FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,541
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,240
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <FONT style="white-space: nowrap">Series&#160;C-2</FONT>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,182
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,182
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,979
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,554
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,942
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    31,322
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    30,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our Certificate of Incorporation specifies the following rights,
    preferences, and privileges for our preferred stockholders.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Voting</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Each share of Series&#160;A, B, C, C-1, and C-2 convertible
    preferred stock has voting rights equal to the number of shares
    of common stock into which it is convertible and votes together
    as one class with the common stock. Our preferred stockholders
    are entitled to elect four directors. Additionally, the holders
    of our Series&#160;C, C-1 and C-2&#160;shares, voting together,
    are entitled to elect one director. The approval of at least 67%
    of the then-outstanding number of shares of convertible
    preferred stock and a majority of the then-outstanding
    Series&#160;C, C-1 and C-2 convertible preferred stock, voting
    together as a separate class, is required to, among other
    things: change the rights and preferences of our preferred
    stock; change our authorized share capital; redeem shares of our
    capital stock; increase the number of shares available for
    issuance under our stock plan; declare or pay any dividend; take
    any action that results in a merger, sale of control, or any
    other transaction in which all or substantially all of our
    assets or more than 50% of the voting power of our company is
    disposed of; and the dissolution or winding up of our company.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Dividends</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our Series&#160;A, B, C, C-1, and C-2 convertible preferred
    stockholders are entitled to receive noncumulative dividends at
    the per annum rates of $0.024, $0.055, $0.066, $0.113, and
    $0.88, respectively, when and if declared by our board of
    directors. The holders of Series&#160;A, B, C, C-1, and C-2
    convertible preferred stock will also be entitled to participate
    in dividends on our common stock, when and if declared by our
    board of directors, on an as-converted basis. Our board of
    directors did
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-20
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL,n -->
<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <BR>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">10.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Redeemable
    Convertible Preferred Stock and Stockholders&#146; Equity
    (Deficit) (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body --><DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    not declare any dividends on our convertible preferred stock or
    common stock during the three-year period ended July&#160;31,
    2009.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Liquidation</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In the event of any liquidation, dissolution, or winding up of
    our company, the available funds and assets that may be legally
    distributed to our stockholders will be distributed, without
    preference, to the holders of our Series&#160;A, B, C, C-1, and
    C-2 convertible preferred stock at amounts equal to $0.30,
    $0.69, $0.83, $1.41, and $11.00 per share, respectively. Upon
    completion of the distributions to each series of convertible
    preferred stock, all remaining funds and assets available for
    distribution are required to be distributed on a pro rata basis
    among holders of our common stock. If upon any liquidation,
    dissolution, or winding up of our company, the available funds
    and assets are insufficient to permit the payment to holders of
    each series of convertible preferred stock of the full
    preferential amounts, then the entire remaining funds and assets
    will be distributed on a pro rata basis among holders of each
    series of convertible preferred stock in proportion to their
    preferential amounts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    A liquidation, dissolution, or winding up of our company
    includes the acquisition of our company by another entity by
    merger, consolidation, sale of voting control, or any other
    transaction or series of transactions in which all our
    stockholders immediately prior to such transaction hold less
    than 50% of the voting power of the surviving entity. Upon such
    an event, all of the holders of each class of stock are eligible
    to participate in all available remaining funds and assets.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Conversion</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Each share of Series&#160;A, B, C, C-1, and C-2 convertible
    preferred stock is convertible into our common stock, at the
    option of the holder, according to a conversion ratio, subject
    to adjustment for dilution. Each share of Series&#160;A, B, C,
    C-1, and C-2 convertible preferred stock automatically converts
    into the number of shares of common stock into which such shares
    are convertible at the then-effective conversion ratio upon:
    (1)&#160;the closing of a public offering of common stock at a
    per share price of at least $2.48 per share with gross proceeds
    of at least $25&#160;million, or (2)&#160;the consent of the
    holders of the majority of our convertible preferred stock,
    provided, however, that no shares of Series&#160;C, C-1, or C-2
    convertible preferred stock will automatically be converted
    pursuant to such consent unless a majority of the
    then-outstanding Series&#160;C, C-1, and C-2 convertible
    preferred stockholders, voting together as separate class, also
    consent to such conversion.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Registration
    Rights Agreement</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We are a party to a registration rights agreement with certain
    of our investors, pursuant to which we have granted those
    persons or entities the right to register shares of common stock
    held by them under the Securities Act of 1933, as amended, or
    the Securities Act. Holders of these rights are entitled to
    demand that we register their shares of common stock under the
    Securities Act so long as certain conditions are satisfied and
    require us to include their shares of common stock in future
    registration statements that may be filed, either for our own
    account or for the account of other security holders exercising
    registration rights. In addition, after an initial public
    offering, these holders have the right to request that their
    shares of common stock be registered on a
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    registration statement so long as certain conditions are
    satisfied and the anticipated aggregate sales price of the
    registered shares as of the date of filing of the
    <FONT style="white-space: nowrap">Form&#160;S-3</FONT>
    registration statement is at least $1&#160;million. The
    foregoing registration rights are subject to various conditions
    and limitations, including the right of underwriters of an
    offering to limit the number of registrable securities that may
    be included in an offering. The registration rights terminate as
    to any particular shares on the date on which the holder sells
    such shares to the public in a registered offering or pursuant
    to Rule&#160;144 under the Securities
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-21
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL,n -->
<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <BR>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">10.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Redeemable
    Convertible Preferred Stock and Stockholders&#146; Equity
    (Deficit) (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body --><DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Act. We are generally required to bear all of the expenses of
    these registrations, except underwriting commissions, selling
    discounts and transfer taxes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We are not obligated under the registration rights agreement to
    transfer consideration, whether in cash, equity instruments, or
    adjustments to the terms of the financial instruments that are
    subject to the registration payment arrangement, to the
    investors, if the registration statement is not declared
    effective within the specified time or if effectiveness of the
    registration statement is not maintained.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Stock Repurchase
    Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    On January&#160;22, 2007, we entered into a Stock Repurchase
    Agreement with Related Stock Cancellation Provisions with
    certain stockholders to repurchase 2,926,458 common and
    preferred shares. In addition, we purchased a call option from
    these stockholders that gave us the right to obtain and cancel
    an additional 2,926,458&#160;shares from these stockholders. We
    paid an aggregate consideration of $20.0&#160;million related to
    these transactions. Upon redemption of all Series&#160;D
    preferred stock, the call option was canceled on
    December&#160;19, 2008.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Non-Employee
    Stock-Based Payments</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    At July&#160;31, 2009 and October&#160;31, 2009, options to
    purchase 283,786&#160;shares of
    <FONT style="white-space: nowrap">Series&#160;C-1</FONT>
    preferred stock at an exercise price of $1.41 per share were
    outstanding. These options were issued in 2005, and are
    exercisable any time prior to their expiration date of
    February&#160;11, 2012. We recognized stock-based compensation
    of $319,000 for these options during 2005, 2006, and 2007 and
    included it as a component of additional paid-in capital.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    On March&#160;3, 2009, we entered into a sales and marketing
    agreement with a third party that contained a contingent warrant
    feature. The warrant provides the third party with an option to
    purchase 3,426,765&#160;shares of our common stock at a per
    share price of $23.70 if certain sales volume or revenue targets
    are achieved. A further 856,691&#160;shares become eligible for
    purchase under the warrant should either of these targets be
    achieved and additional specified marketing and promotional
    activities take place.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The shares become eligible for purchase under the warrant at any
    time the targets are achieved prior to the earlier of
    March&#160;3, 2014 or the termination of the sales and marketing
    agreement. Once eligible for purchase, the purchase option
    expires on the earliest of: (1)&#160;the date at which the sales
    and marketing agreement with the third-party is terminated;
    (2)&#160;the date of a change of control transaction of our
    company; or (3)&#160;March&#160;3, 2017.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The warrant is not redeemable for cash by the holder unless we
    fail to perform in accordance with the customary contractual
    terms of the sales and marketing agreement. Should the third
    party fail to perform in accordance with the terms of the sales
    and marketing agreement, we obtain an option to repurchase any
    shares previously issued under the warrant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As the option to purchase shares under the warrant is contingent
    upon the achievement of certain sales volume or revenue targets,
    there is a possibility that no shares will become eligible for
    purchase. Based on different possible outcomes, we developed a
    range of fair values for the warrant, and we measured the
    warrant at its current lowest aggregate fair value within that
    range. As none of the performance conditions have been met, the
    lowest aggregate fair value is zero. Accordingly, we have not
    assigned any value to the warrant in our consolidated financial
    statements as of July&#160;31, 2009 or October&#160;31, 2009
    (unaudited).
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-22
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL,n -->
<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <BR>
</DIV>

<!-- XBRL,body --><DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
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<!-- XBRL,n -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">11.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Stock-Based
    Compensation</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Stock
    Plan</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In January 2001, we adopted the 2001 Stock Plan, or the Plan.
    The Plan provides for the granting of incentive stock options,
    nonqualified stock options and other stock awards. Our officers,
    employees, outside directors, and consultants are eligible to
    receive stock-based awards under the Plan; however, incentive
    stock options may only be granted to our officers and employees.
    During the year ended July&#160;31, 2009, we increased the
    number of shares of common stock reserved for issuance under the
    Plan from 9,643,134&#160;shares to 9,943,134&#160;shares.
    Options granted under the Plan generally vest over four years
    and expire five or ten years from the date of grant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The total stock-based compensation expense recognized was
    $0.2&#160;million, $1.2&#160;million, and $2.5&#160;million for
    the years ended July&#160;31, 2007, 2008, and 2009,
    respectively, and $0.6&#160;million and $0.7&#160;million for
    the three months ended October&#160;31, 2008 (unaudited) and
    2009 (unaudited), respectively. The total income tax benefit
    recognized as a component of income tax expense for stock-based
    compensation arrangements was $0, $0.3&#160;million, and
    $0.4&#160;million for the years ended July&#160;31, 2007, 2008,
    and 2009, respectively, and $0.1&#160;million and
    $0.1&#160;million for the three months ended October&#160;31,
    2008 (unaudited) and 2009 (unaudited), respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We estimated the fair value of each employee option grant on the
    date of grant using the following weighted-average assumptions:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="62%">&nbsp;</TD>         <!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>  <!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>    <!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>    <!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>     <!-- colindex=02 type=hang1 -->
    <TD width="4%">&nbsp;</TD>  <!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>    <!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>    <!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>     <!-- colindex=03 type=hang1 -->
    <TD width="4%">&nbsp;</TD>  <!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>    <!-- colindex=04 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>    <!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>     <!-- colindex=04 type=hang1 -->
    <TD width="4%">&nbsp;</TD>  <!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>    <!-- colindex=05 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>    <!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>     <!-- colindex=05 type=hang1 -->
    <TD width="4%">&nbsp;</TD>  <!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>    <!-- colindex=06 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>    <!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>     <!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Three Months Ended October&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Risk-free interest rate
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.52
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.98
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.26
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.32
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.88
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Expected term (life) of options (in years)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Expected dividends
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Expected volatility
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    54.3
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    54.3
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53.2
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    48.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    56.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Determining the fair value of stock-based awards at their
    respective grant dates requires considerable judgment, including
    estimating expected volatility and expected term (life). We
    based our expected volatility on the historical volatility of
    comparable public companies over the option&#146;s expected
    term. We calculated our expected term based on the simplified
    method, which is the mid-point between the weighted-average
    graded-vesting term of 2.16&#160;years and the contractual term
    of 10&#160;years, resulting in 6.08&#160;years. The simplified
    method was chosen as a means to determine expected term as there
    is limited historical option exercise experience due to our
    company being privately held. We derived the risk-free rate from
    the average yield for the five-and seven-year zero-coupon
    U.S.&#160;Treasury Strips. We estimate forfeitures at the grant
    date based on our historical forfeiture rate since the
    Plan&#146;s inception and revise the estimate, if necessary, in
    subsequent periods if actual forfeitures differ from those
    estimates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The weighted-average fair value of options granted was $2.17,
    $2.49, and $6.98 per share for the years ended July&#160;31,
    2007, 2008, and 2009, respectively, and $10.36 and $9.50 per
    share for the three months ended October&#160;31, 2008
    (unaudited) and 2009 (unaudited), respectively.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><I><FONT style="font-family: Arial, Helvetica">Stock Option
    Modification</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    On December&#160;11, 2008, our board of directors approved the
    modification of options to purchase 155,500&#160;shares of
    common stock previously granted on August&#160;12, 2008, to
    decrease the exercise price from $17.90 to $10.75. The stock
    option modification resulted in incremental stock-based
    compensation expense of $214,000, of which $38,000 was
    recognized for the year ended July&#160;31, 2009 and $176,000
    will be recognized over the remaining vesting period.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-23
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">11.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Stock-Based
    Compensation (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Option activity for the years ended July&#160;31, 2007, 2008 and
    2009 and the three months ended October&#160;31, 2009 was as
    follows (in thousands, except per share amounts):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="71%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="14%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Options Outstanding</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Number<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Weighted-Average<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>of Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Exercise Price</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance at July&#160;31, 2006
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,164
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Additional shares reserved
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Options granted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    410
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.36
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Options canceled
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (444
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Options exercised
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (264
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.04
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance at July&#160;31, 2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,866
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.22
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Additional shares reserved
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Options granted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,914
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.64
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Options canceled
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (163
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.81
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Options exercised
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,822
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.63
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance at July&#160;31, 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,795
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.76
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Additional shares reserved
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Options granted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    812
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.32
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Options canceled
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (664
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.24
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Options exercised
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (35
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.21
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance at July&#160;31, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,908
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.88
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Additional shares reserved (unaudited)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Options granted (unaudited)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    128
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Options canceled (unaudited)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (36
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Options exercised (unaudited)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (36
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.07
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance at October&#160;31, 2009 (unaudited)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,964
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4.25
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The total shares available for grant under the Plan were 443,075
    as of October&#160;31, 2009 (unaudited).
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-24
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">11.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Stock-Based
    Compensation (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table summarizes information with respect to stock
    options outstanding and exercisable at July&#160;31, 2009:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="26%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="7%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="7%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="11" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Options Outstanding</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="11" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Options Currently Exercisable</B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Weighted-Average<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Weighted-<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Weighted-Average<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Weighted-<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Remaining<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Average<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Number<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Remaining<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Average<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Number<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Contractual<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exercise<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Currently<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Contractual<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exercise<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Exercise Price</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Outstanding</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Life (in Years)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Price</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Exercisable</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Life (in Years)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Price</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    $0.16-$0.35
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    358,022
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="right" valign="bottom">
    $0.32
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    358,022
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.32
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    $0.83-$1.41
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,363,035
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,246,037
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.17
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    $1.55-$4.00
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    683,102
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    638,007
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.94
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    $4.64-$10.75
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,414,875
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    942,299
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.82
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    $10.84-$15.65
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    89,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.95
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,908,034
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,184,365
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table summarizes information with respect to stock
    options outstanding and exercisable at October&#160;31, 2009
    (unaudited):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="26%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="7%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="7%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="11" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Options Outstanding</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="11" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Options Currently Exercisable</B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Weighted-Average<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Weighted-<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Weighted-Average<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Weighted-<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Remaining<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Average<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Number<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Remaining<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Average<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Number<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Contractual<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exercise<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Currently<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Contractual<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exercise<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Exercise Price</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Outstanding</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Life (in Years)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Price</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Exercisable</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Life (in Years)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Price</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    $0.16-$0.35
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    323,378
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">

</TD>
<TD nowrap align="right" valign="bottom">
    $0.32
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    323,378
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.32
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    $0.83-$1.41
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,347,192
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.20
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,287,059
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    $1.55-$4.00
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    683,102
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    647,164
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.97
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    $4.64-$10.75
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,393,375
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.11
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,067,055
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    $10.84-$17.19
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    216,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.45
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,963,547
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,324,656
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Tax benefits realized from the exercise of stock options were
    $0, $0.9&#160;million and $0 for the years ended July&#160;31,
    2007, 2008 and 2009, respectively, and $0 for the three months
    ended October&#160;31, 2008 (unaudited) and 2009 (unaudited).
    Cash proceeds from the exercise of stock options were
    $0.3&#160;million, $1.2&#160;million, and $0.1&#160;million for
    the years ended July&#160;31, 2007, 2008, and 2009,
    respectively, and $0 and $0.1&#160;million for the three months
    ended October&#160;31, 2008 (unaudited) and 2009 (unaudited),
    respectively. There were 3,184,365 vested and 1,723,669 unvested
    outstanding options at July&#160;31, 2009 and 3,324,656 vested
    and 1,638,891 unvested outstanding options at October&#160;31,
    2009 (unaudited). The aggregate unrecognized compensation cost
    for unvested stock options issued subsequent to August&#160;1,
    2006, and expected to be recognized in compensation expense in
    future periods was $6.4&#160;million and $6.7&#160;million at
    July&#160;31, 2009 and October&#160;31, 2009 (unaudited),
    respectively, and the related weighted-average period over which
    it is expected to be recognized was estimated at 2.5&#160;years
    and 2.6&#160;years, respectively. No stock-based compensation
    expense was reflected in our consolidated statements of
    operations for those stock option grants issued prior to
    August&#160;1, 2006. At July&#160;31, 2009, 2,140,661 vested and
    116,998 unvested outstanding options represented options granted
    prior to August&#160;1, 2006. At October&#160;31, 2009
    (unaudited), 2,147,039 vested and 60,133 unvested outstanding
    options represented options granted prior to August&#160;1, 2006.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-25
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">12.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Earnings per
    Common Share</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our preferred stockholders are entitled to participate with
    common stockholders in the distributions of earnings through
    dividends. We calculated earnings per common share using the
    two-class method. Refer to <I>Note&#160;2&#160;&#151; Summary of
    Significant Accounting Policies </I>for a discussion of the
    calculation of earnings (loss) per common share.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The calculation of basic earnings (loss) per common share and
    diluted earnings (loss) per common share, or EPS, for the years
    ended July&#160;31, 2007, 2008 and 2009 and the three months
    ended October&#160;31, 2008 and 2009 was as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July 31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Three Months Ended October 31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Basic earnings (loss) per common share</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,647
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    17,335
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    37,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,827
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Accretion of redeemable convertible preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,635
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,480
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,956
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,261
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Deemed dividend on preferred stock redemptions
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,522
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9,634
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Allocated earnings to preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9,170
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (17,410
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,148
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (7,013
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Net income (loss) allocated to common stockholders
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (510
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,685
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,418
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,391
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Weighted-average common shares issued and outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,757
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,036
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,026
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,060
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Basic earnings (loss) per common share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (0.05
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.34
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.68
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Diluted earnings (loss) per common share</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Net income (loss) allocated to common stockholders
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (510
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,685
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,418
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,391
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Weighted-average common shares issued and outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,757
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,036
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,026
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,060
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Dilutive potential common shares:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Stock options
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,747
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,978
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,259
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,997
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Warrants
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    650
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    698
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    749
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    261
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Diluted weighted-average common shares issued and outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,154
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,712
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,034
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,318
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Diluted earnings (loss) per common share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    (0.05
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.52
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.22
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We excluded from the computation of basic EPS for the year ended
    July&#160;31, 2009&#160;shares issuable under the contingent
    warrant referred to in <I>Note&#160;10&#160;&#151; Redeemable
    Convertible Preferred Stock and Stockholders&#146; Equity
    (Deficit) </I>as the related performance conditions have not
    been satisfied.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-26
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">12.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Earnings per
    Common Share (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    For the years ended July&#160;31, 2007, 2008 and 2009 and for
    the three months ended October&#160;31, 2008 (unaudited) and
    2009 (unaudited), we excluded convertible preferred stock and
    certain stock options outstanding, which could potentially
    dilute basic EPS in the future, from the computation of diluted
    EPS as their effect was anti-dilutive. The following table shows
    the weighted-average number of anti-dilutive shares excluded
    from the diluted EPS calculation for the years ended
    July&#160;31, 2007, 2008 and 2009 and the three months ended
    October&#160;31, 2008 (unaudited) and 2009 (unaudited) (in
    thousands):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="51%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Year Ended July&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Three Months Ended October 31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Options to purchase common stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,307
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    392
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    97
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    66
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Conversion of convertible preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,707
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,763
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,674
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,763
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,942
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total options and conversion of convertible preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29,014
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    27,155
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,771
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,784
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,008
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-27
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">12.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Earnings per
    Common Share (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The calculation of unaudited pro forma basic earnings per common
    share and diluted earnings per common share, or EPS, for the
    year ended July&#160;31, 2009 and the three months ended
    October&#160;31, 2009 was as follows (in thousands):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="76%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Three<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Months<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>July&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>October&#160;31,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(Unaudited)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Pro forma basic earnings per common share</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Net income allocated to common stockholders
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,391
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Accretion of redeemable convertible preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,956
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Deemed dividend on preferred stock redemptions
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,634
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Allocated earnings to preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,410
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,013
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Pro forma net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    37,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Weighted-average common shares issued and outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,036
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,060
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Adjustment to reflect assumed effect of conversion of
    convertible preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,942
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,942
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Pro forma weighted-average common shares issued and outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36,978
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,002
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Pro forma basic earnings per common share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Pro forma diluted earnings per common share</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Net income allocated to common stockholders
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,391
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Accretion of redeemable convertible preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,956
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Deemed dividend on preferred stock redemptions
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,634
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Allocated earnings to preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,410
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,013
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Pro forma net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    37,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Weighted-average common shares issued and outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,036
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,060
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Dilutive potential common shares:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Stock options
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,978
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,997
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Warrants
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    698
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    261
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 18pt">
    Adjustment to reflect assumed weighted effect of conversion of
    convertible preferred stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,942
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,942
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Pro forma diluted weighted-average common shares issued and
    outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,654
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,260
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    Pro forma diluted earnings per common share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.91
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">13.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">401(k)
    Plan</FONT></B>
</TD>
</TR>

</TABLE>
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    On January&#160;1, 2004, we established a defined contribution
    savings plan under Section&#160;401(k) of the Internal Revenue
    Code. The plan is available to all employees upon completion of
    three months of employment and allows participants to defer a
    portion of their annual compensation on a pretax basis. We may
    contribute to the plan at the discretion of our board of
    directors. We made contributions to the plan of $73,000, $8,000,
    and $58,000 for the years ended July&#160;31, 2007, 2008, and
    2009, respectively, and $59,000 and $0 for the three months
    ended October&#160;31, 2008 (unaudited) and 2009 (unaudited),
    respectively.
</DIV>
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<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">14.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Commitments and
    Contingencies</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We lease approximately 49,000&#160;square feet of office space
    at our headquarters in Monrovia, California, under a
    noncancelable lease expiring in September 2012. We also lease a
    data center in Los Angeles, California under a noncancelable
    lease expiring in November 2010. Our total rental
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-28
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">14.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Commitments and
    Contingencies (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    expense for these leases amounted to $1.0&#160;million,
    $1.2&#160;million, and $1.4&#160;million for the years ended
    July&#160;31, 2007, 2008, and 2009, respectively, and
    $0.3&#160;million and $0.4&#160;million for the three months
    ended October&#160;31, 2008 (unaudited) and 2009 (unaudited),
    respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    At October&#160;31, 2009 (unaudited), the minimum aggregate
    rental commitment under all non-cancelable operating leases was
    (in thousands):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="91%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Year Ending July 31,</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,386
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,493
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,439
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2013
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    287
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Thereafter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,605
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    At July&#160;31, 2009 and October&#160;31, 2009 (unaudited), we
    had a $4.0&#160;million letter of credit outstanding, issued on
    our behalf, to collateralize surety bonds issued in connection
    with our state money transmitter licenses.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We renewed our processing services agreement with a key vendor
    with an effective date of September&#160;1, 2009. The terms of
    the agreement include future minimum annual payments. We also
    amended an existing contract with one of our retail
    distributors. The amendment calls for guaranteed payments to the
    retail distributor. At October&#160;31, 2009 (unaudited), the
    minimum aggregate commitment under these agreements was (in
    thousands):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="90%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Year Ending July 31,</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,853
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,883
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,902
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2013
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    125
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Thereafter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    36,763
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In the event we terminate our processing services agreement for
    convenience, we are required to pay a single lump sum equal to
    any minimum payments remaining on the date of termination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We have retained outside regulatory counsel to survey and
    monitor the laws of all 50&#160;states to identify state laws or
    regulations that apply to prepaid debit cards and other stored
    value products. Many state laws do not specifically address
    stored value products and what, if any, legal or regulatory
    requirements (including licensing) apply to the sale of these
    products. We have obtained money transmitter licenses (or
    similar such licenses) where applicable, based on advice of
    counsel or when we have been requested to do so. If we were
    found to be in violation of any laws and regulations governing
    banking, money transmitters, electronic fund transfers, or money
    laundering in the United States or abroad, we could be subject
    to penalties or could be forced to change our business practices.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In the ordinary course of business, we are a party to various
    legal proceedings. We review these actions on an ongoing basis
    to determine whether it is probable that a loss has occurred and
    use that information when making accrual and disclosure
    decisions. We have not established reserves or
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-29
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">14.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Commitments and
    Contingencies (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    possible ranges of losses related to these proceedings because,
    at this time in the proceedings, the matters do not relate to a
    probable loss
    <FONT style="white-space: nowrap">and/or</FONT> the
    amounts are not reasonably estimable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    From time to time we enter into contracts containing provisions
    that contingently require us to indemnify various parties
    against claims from third parties. These contracts primarily
    relate to (i)&#160;contracts with our card issuing banks, under
    which we are responsible to them for any unrecovered overdrafts
    on cardholders&#146; accounts; (ii)&#160;certain real estate
    leases, under which we may be required to indemnify property
    owners for environmental and other liabilities, and other claims
    arising from our use of the premises, (iii)&#160;certain
    agreements with our officers, directors, and employees, under
    which we may be required to indemnify these persons for
    liabilities arising out of their relationship with us,
    (iv)&#160;contracts under which we may be required to indemnify
    our retail distributors, suppliers, vendors and other parties
    with whom we have contracts against third-party claims that our
    products infringe a patent, copyright, or other intellectual
    property right claims arising from our acts, omissions, or
    violation of law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Generally, a maximum obligation under these contracts is not
    explicitly stated. Because the obligated amounts associated with
    these types of agreements are not explicitly stated, the overall
    maximum amount of the obligation cannot be reasonably estimated.
    With the exception of overdrafts on cardholders&#146; accounts,
    historically, we have not been required to make payments under
    these and similar contingent obligations, and no liabilities
    have been recorded for these obligations in our consolidated
    balance sheets. For additional information regarding overdrafts
    on cardholders&#146; accounts, refer to
    <I>Note&#160;3&#160;&#151; Accounts Receivable</I>.
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL,n -->
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">15.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Significant
    Customer Concentrations</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    A credit concentration may exist if customers are involved in
    similar industries, economic sectors, and geographic regions.
    Our retail distributors operate in similar economic sectors but
    diverse domestic geographic regions. The loss of a significant
    retail distributor could have a material adverse effect upon our
    card sales, profitability, and revenue growth.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Revenues derived from our products sold at our four largest
    retail distributors, Walmart, Walgreens, CVS, and Rite Aid,
    represented approximately 3%, 22%, 19%, and 17%, respectively,
    of our operating revenues for the year ended July&#160;31, 2007,
    39%, 17%, 13%, and 11%, respectively, for the year ended
    July&#160;31, 2008, 56%, 11%, 9%, and 7%, respectively, for the
    year ended July&#160;31, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Revenues derived from our products sold at our four largest
    retail distributors, Walmart, Walgreens, CVS, and Rite Aid,
    represented approximately 50%, 15%, 12%, and 10%, respectively,
    of our operating revenues for the three months ended
    October&#160;31, 2008 (unaudited) and 64%, 9%, 8% and 6%,
    respectively, for the three months ended October&#160;31, 2009
    (unaudited).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In determining the customer concentration, we attributed new
    card fees and cash transfer revenues to the retail distributor
    where the sale of the new cards and cash transfer products
    occurred.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The concentration of sales of new cards (in units) for these
    retail distributors, in the aggregate, was 84%, 94%, and 95% for
    the years ended July&#160;31, 2007, 2008, and 2009,
    respectively, and 95% and 95% for the three months ended
    October&#160;31, 2008 (unaudited) and 2009 (unaudited),
    respectively. The concentration of sales of cash transfer
    products (in units) for these retail distributors, in the
    aggregate, was 78%, 89%, and 92% for the years ended
    July&#160;31, 2007, 2008, and 2009, respectively, and 91% and
    94% for the three months ended October&#160;31, 2008 (unaudited)
    and 2009 (unaudited), respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Our four largest retail distributors also comprised 51%, 30%,
    17%, and 10%, respectively, of the settlement assets recorded on
    our consolidated balance sheet as of July&#160;31, 2008, 83%,
    10%, 0%, and 5%, respectively, as of July&#160;31, 2009 and 83%,
    8%, 0%, and 5%, respectively, as of October&#160;31, 2009
    (unaudited).
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-30
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Green Dot
    Corporation<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">Notes to
    Consolidated Financial
    Statements&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">


</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">15.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Significant
    Customer Concentrations (Continued)</FONT></B>
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    During the years ended July&#160;31, 2007, 2008, and 2009, and
    during the three months ended October&#160;31, 2008 (unaudited)
    and 2009 (unaudited), the majority of our customer funds
    underlying our products were held bank accounts at two card
    issuing banks. These funds are held in trust for the benefit of
    the customers, and we have no legal rights to the customer funds
    or deposits at the card issuing banks. The failure of either of
    these card issuing banks could result in significant business
    disruption, a potential material adverse affect on our ability
    to service our customers, and potential contingent obligations
    by us to customers.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 05 -->

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">16.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">Subsequent
    Events</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    We evaluate subsequent events that have occurred after our most
    recent balance sheet date but before the financial statements
    are issued or are available to be issued. There are two types of
    subsequent events: (1)&#160;recognized, or those that provide
    additional evidence about conditions that existed at the date of
    the balance sheet, including the estimates inherent in the
    process of preparing financial statements, and
    (2)&#160;nonrecognized, or those that provide evidence about
    conditions that did not exist at the date of the balance sheet
    but arose after that date. We evaluated subsequent events
    through February&#160;26, 2010, the issuance date of our
    financial statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Based on the evaluation, we did not identify any recognized
    subsequent events that would have required adjustment to the
    consolidated financial statements. The following were
    nonrecognized subsequent events we identified:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In October 2009, certain existing and third-party investors
    extended an offer to all our existing stockholders to purchase
    3,250,000&#160;shares at a price of $20.05, less applicable
    selling fees. On November&#160;9, 2009, the offering closed and
    existing stockholders sold 3,033,661&#160;shares at a price of
    $20.01 per share.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In November 2009, we entered into a new agreement with an
    existing card issuing bank. The terms of the agreement include
    future minimum annual payments. The minimum aggregate commitment
    under this agreement was (in thousands):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="91%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Year Ending July 31,</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,440
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,920
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,920
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2013
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    640
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Thereafter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    5,920
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In November 2009, all related-party notes receivable were repaid
    in full, including accrued interest of $936,000.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In November 2009, our board of directors approved an increase in
    the number of shares of common stock reserved for issuance under
    the Plan from 9,943,134&#160;shares to 11,208,384&#160;shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In December 2009, our board of directors awarded
    257,984&#160;shares of common stock to our Chief Executive
    Officer to compensate him for past services rendered to our
    company. The number of shares awarded was equal to the number of
    shares subject to fully vested options that were unintentionally
    allowed to expire unexercised in June 2009. The aggregate grant
    date fair value of the December 2009 award was approximately
    $5.2&#160;million, based on an estimated fair value of our
    common stock of $20.01, as determined by our board of directors
    on the date of the award. We recorded the aggregate grant date
    fair value as compensation and benefits expense on the date of
    the award.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    F-31
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></CENTER>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Shares</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <IMG src="v55076orv5507643.gif" alt=""><B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">
    </FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">Class&#160;A
    Common Stock</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B><FONT style="font-size: 24pt; font-family: 'Times New Roman', Times">Prospectus</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="50%"></TD>
    <TD width="50%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">    <B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">J.P.
    Morgan</FONT></B></TD>
    <TD nowrap align="right">    <B><FONT style="font-size: 18pt; font-family: 'Times New Roman', Times">
    Morgan Stanley</FONT></B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 18%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="50%"></TD>
    <TD width="50%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">    <B><FONT style="font-family: 'Times New Roman', Times">Piper
    Jaffray</FONT></B></TD>
    <TD nowrap align="right">    <B><FONT style="font-family: 'Times New Roman', Times"> UBS
    Investment Bank</FONT></B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<FONT style="font-family: 'Times New Roman', Times">,
    2010
    </FONT>
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></CENTER>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">PART&#160;II<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">INFORMATION NOT
    REQUIRED IN PROSPECTUS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">ITEM&#160;13.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: Arial, Helvetica">Other Expenses
    of Issuance and Distribution.</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The following table sets forth the costs and expenses to be paid
    by the Registrant in connection with the sale of the shares of
    Class&#160;A common stock being registered hereby. All amounts
    are estimates except for the SEC registration fee, the FINRA
    filing fee and the NYSE listing fee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="87%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    SEC registration fee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,695.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    FINRA filing fee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,500.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    NYSE listing fee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Printing and engraving
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Legal fees and expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Accounting fees and expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Road show expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Blue sky fees and expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Transfer agent and registrar fees and expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Miscellaneous
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
     *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    To be provided by amendment.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">ITEM&#160;14.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: Arial, Helvetica">Indemnification
    of Directors and Officers.</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Section&#160;145 of the Delaware General Corporation Law
    authorizes a court to award, or a corporation&#146;s board of
    directors to grant, indemnity to directors and officers under
    certain circumstances and subject to certain limitations. The
    terms of Section&#160;145 of the Delaware General Corporation
    Law are sufficiently broad to permit indemnification under
    certain circumstances for liabilities, including reimbursement
    of expenses incurred, arising under the Securities Act of 1933,
    as amended (the &#147;Securities Act&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As permitted by the Delaware General Corporation Law, the
    Registrant&#146;s restated certificate of incorporation contains
    provisions that eliminate the personal liability of its
    directors for monetary damages for any breach of fiduciary
    duties as a director, except for liability:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for any breach of the director&#146;s duty of loyalty to the
    Registrant or its stockholders;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for acts or omissions not in good faith or that involve
    intentional misconduct or a knowing violation of law;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    under Section&#160;174 of the Delaware General Corporation Law
    (regarding unlawful dividends and stock purchases);&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    for any transaction from which the director derived an improper
    personal benefit.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    As permitted by the Delaware General Corporation Law, the
    Registrant&#146;s restated bylaws provide that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the Registrant is required to indemnify its directors and
    officers to the fullest extent permitted by the Delaware General
    Corporation Law, subject to very limited exceptions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the Registrant may indemnify its other employees and agents as
    set forth in the Delaware General Corporation Law;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the Registrant is required to advance expenses, as incurred, to
    its directors and officers in connection with a legal proceeding
    to the fullest extent permitted by the Delaware General
    Corporation Law, subject to very limited exceptions;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the rights conferred in the bylaws are not exclusive.
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    II-1
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Prior to the completion of the offering that is the subject of
    this Registration Statement, the Registrant intends to enter
    into indemnification agreements with each of its current
    directors and executive officers to provide these directors and
    executive officers additional contractual assurances regarding
    the scope of the indemnification set forth in the
    Registrant&#146;s restated certificate of incorporation and
    restated bylaws and to provide additional procedural
    protections. At present, there is no pending litigation or
    proceeding involving a director, executive officer or employee
    of the Registrant regarding which indemnification is sought.
    Reference is also made to Section&#160;9 of the Underwriting
    Agreement, which provides for the indemnification of executive
    officers, directors and controlling persons of the Registrant
    against certain liabilities. The indemnification provision in
    the Registrant&#146;s restated certificate of incorporation,
    restated bylaws and the indemnification agreements entered into
    or to be entered into between the Registrant and each of its
    directors and executive officers may be sufficiently broad to
    permit indemnification of the Registrant&#146;s directors and
    executive officers for liabilities arising under the Securities
    Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The Registrant has directors&#146; and officers&#146; liability
    insurance for securities matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    In addition, Mr.&#160;Moritz is indemnified by his employer with
    regard to his serving on the Registrant&#146;s board of
    directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Reference is made to the following documents filed as exhibits
    to this Registration Statement regarding relevant
    indemnification provisions described above and elsewhere herein:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="92%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=align1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Exhibit Document</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Number</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Form of Underwriting Agreement
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    1
</TD>
<TD nowrap align="left" valign="top">
    .01
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Form of Restated Certificate of Incorporation of the Registrant
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .02
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Form of Restated Bylaws of the Registrant
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .04
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Eighth Amended and Restated Registration Rights Agreement by and
    among the Registrant and certain investors of the Registrant
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .02
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Form of Indemnity Agreement
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .01
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">ITEM&#160;15.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: Arial, Helvetica">Recent Sales
    of Unregistered Securities.</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Since January&#160;1, 2007, the Registrant has issued and sold
    the following securities:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    1.&#160;In February and March 2007, the Registrant issued
    197,672&#160;shares of common stock pursuant to the exercise of
    warrants with a per share exercise price of $0.3014 for an
    aggregate purchase price of $59,578.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    2.&#160;In December 2008, the Registrant sold
    1,181,818&#160;shares of Series C-2 preferred stock to four
    entity affiliates with Sequoia Capital, a venture capital firm,
    for an aggregate purchase price of $13.0&#160;million.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    3.&#160;In March 2009, the Registrant issued a warrant to
    purchase up to 4,283,456&#160;shares of common stock to PayPal,
    Inc.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    4.&#160;Since January&#160;1, 2007, the Registrant has issued
    options to employees, consultants and directors to purchase an
    aggregate of 4,415,921&#160;shares of common stock under its
    2001 Stock Plan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    5.&#160;Since January&#160;1, 2007, the Registrant has issued
    2,693,242&#160;shares of common stock to its employees,
    directors, consultants and other service providers upon exercise
    of options granted by it under its 2001 Stock Plan, with
    exercise prices ranging from $0.16 to $10.75 per share, for an
    aggregate purchase price of $2,622,703.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The sales of the securities described in paragraphs
    (1)&#160;&#150; (3)&#160;above were deemed to be exempt from
    registration under the Securities Act in reliance upon
    Section&#160;4(2) of the Securities Act or Regulation&#160;D
    promulgated thereunder. The recipients of the securities in each
    of these transactions represented their intentions to acquire
    the securities for investment only and not with a view to or for
    sale in connection with any distribution thereof, and
    appropriate legends were placed upon the share certificates
    issued in these transactions. All recipients had adequate
    access, through their
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    II-2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    relationships with us, to information about the Registrant. The
    sales of the securities described in paragraphs (4)&#160;and
    (5)&#160;above were deemed to be exempt from registration under
    the Securities Act in reliance upon Rule&#160;701 promulgated
    under Section&#160;3(b) of the Securities Act as transactions
    pursuant to benefit plans and contracts relating to compensation
    as provided under Rule&#160;701.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">ITEM&#160;16.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: Arial, Helvetica">Exhibits and
    Financial Statement Schedules.</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <I>(a)&#160;Exhibits.</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="91%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exhibit<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Number</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Exhibit Title</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    1
</TD>
<TD nowrap align="left" valign="top">
    .01*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Underwriting Agreement.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .01*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Ninth Amended and Restated Certificate of Incorporation of the
    Registrant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .02*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Restated Certificate of Incorporation of the Registrant,
    to be effective upon the consummation of this offering.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .03
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Bylaws of the Registrant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .04*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Restated bylaws of the Registrant, to be effective upon
    closing of this offering.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .01*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Registrant&#146;s Class&#160;A Common Stock certificate.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .02*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Eighth Amended and Restated Registration Rights Agreement by and
    among the Registrant and the preferred stockholders and certain
    warrant holders of the Registrant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5
</TD>
<TD nowrap align="left" valign="top">
    .01*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Opinion of Fenwick&#160;&#038; West LLP regarding the legality
    of the securities being registered.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .01*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Indemnity Agreement.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .02*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2001 Stock Plan and form of option grant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .03*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2010 Equity Incentive Plan and form of option grant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .04
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Lease Agreement between Registrant and Foothill Technology
    Center, dated July&#160;8, 2005, as amended on August&#160;21,
    2008 and July&#160;30, 2009.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .05*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Prepaid Card Program Agreement dated as of October&#160;20, 2006
    by and among the Registrant, Wal-Mart Stores, Inc., Wal-Mart
    Stores Texas, L.P., Wal-Mart Louisiana, LLC, Wal-Mart Stores
    East, Inc., and Wal-Mart Stores, L.P. and GE Money Bank, as
    amended.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .06*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Card Program Services Agreement, dated as of October&#160;27,
    2006, by and between the Registrant and GE Money Bank, as
    amended.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .07*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Program Agreement, dated as of November&#160;1, 2009, by and
    between the Registrant and Columbus Bank and Trust&#160;Company.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .08*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Agreement for Services, dated as of September&#160;1, 2009, by
    and between the Registrant and Total System Services, Inc.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .09*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Master Services Agreement, dated as of May&#160;28, 2009, by and
    between the Registrant and Genpact International, Inc.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .10
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Fifth Amended and Restated Loan and Line of Credit Agreement
    between Columbus Bank and Trust&#160;Company and Registrant,
    dated March&#160;24, 2009.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .11
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Offer letter to William D. Sowell from the Registrant, dated
    January&#160;28, 2009.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .12
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Employment Agreement between the Registrant and Mark T.
    Troughton, dated July&#160;20, 2004.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .13
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    FY2009 Management Cash Incentive Compensation Plan.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .14
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Description of FY2010 Management Cash Incentive Compensation
    Plan.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .15*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Warrant to purchase shares of common stock of the Registrant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .16
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Preferred Stock Warrant to purchase shares of
    <FONT style="white-space: nowrap">Series&#160;C-1</FONT>
    preferred stock of the Registrant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .01*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Fenwick&#160;&#038; West LLP (included in
    Exhibit&#160;5.01).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .02
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Ernst&#160;&#038; Young LLP, independent registered
    public accounting firm.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    24
</TD>
<TD nowrap align="left" valign="top">
    .01
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Power of Attorney (included on
    <FONT style="white-space: nowrap">page&#160;II-5).</FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    To be filed by amendment.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    II-3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <I><FONT style="font-family: Arial, Helvetica">(b)&#160;&#160;</FONT></I>
</TD>
    <TD>
    <I><FONT style="font-family: Arial, Helvetica">Financial
    Statement Schedules.</FONT></I>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    All financial statement schedules are omitted because they are
    not applicable or the information is included in the
    Registrant&#146;s consolidated financial statements or related
    notes.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: Arial, Helvetica">ITEM&#160;17.<I>&#160;&#160;</I></FONT></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: Arial, Helvetica">Undertakings.</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The undersigned Registrant hereby undertakes to provide to the
    underwriters at the closing specified in the underwriting
    agreement certificates in such denominations and registered in
    such names as required by the underwriters to permit prompt
    delivery to each purchaser.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Insofar as indemnification for liabilities arising under the
    Securities Act may be permitted to directors, officers and
    controlling persons of the Registrant pursuant to provisions
    described in Item&#160;14 above, or otherwise, the Registrant
    has been advised that in the opinion of the Securities and
    Exchange Commission such indemnification is against public
    policy as expressed in the Securities Act and is, therefore,
    unenforceable. In the event that a claim for indemnification
    against such liabilities (other than the payment by the
    Registrant of expenses incurred or paid by a director, officer
    or controlling person of the Registrant in the successful
    defense of any action, suit or proceeding) is asserted by such
    director, officer or controlling person in connection with the
    securities being registered, the Registrant will, unless in the
    opinion of its counsel the matter has been settled by
    controlling precedent, submit to a court of appropriate
    jurisdiction the question whether such indemnification by it is
    against public policy as expressed in the Securities Act and
    will be governed by the final adjudication of such issue.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    The undersigned Registrant hereby undertakes that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    (1)&#160;for purposes of determining any liability under the
    Securities Act, the information omitted from the form of
    prospectus filed as part of this registration statement in
    reliance upon Rule&#160;430A and contained in a form of
    prospectus filed by the Registrant pursuant to
    Rule&#160;424(b)(1) or (4)&#160;or 497(h) under the Securities
    Act shall be deemed to be part of this registration statement as
    of the time it was declared effective.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    (2)&#160;for the purpose of determining any liability under the
    Securities Act, each post-effective amendment that contains a
    form of prospectus shall be deemed to be a new registration
    statement relating to the securities offered therein, and the
    offering of such securities at that time shall be deemed to be
    the initial <I>bona fide </I>offering thereof.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    II-4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">SIGNATURES</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Pursuant to the requirements of the Securities Act, the
    Registrant has duly caused this Registration Statement to be
    signed on its behalf by the undersigned, thereunto duly
    authorized, in the City of Monrovia, State of California, on
    February&#160;26, 2010.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <B>GREEN DOT CORPORATION</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="center">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;<FONT style="font-variant: SMALL-CAPS">Steven
    W. Streit</FONT></DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="center" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Steven W. Streit
</DIV>

<DIV align="center" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    President and Chief Executive Officer
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">POWER OF
    ATTORNEY</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    KNOW ALL PERSONS BY THESE PRESENTS that each individual whose
    signature appears below constitutes and appoints Steven W.
    Streit, John C. Ricci and John L. Keatley, and each of them, his
    or her true and lawful attorneys-in-fact and agents with full
    power of substitution, for him or her and in his or her name,
    place and stead, in any and all capacities, to sign any and all
    amendments (including post-effective amendments) to this
    Registration Statement, and to sign any registration statement
    for the same offering covered by the Registration Statement that
    is to be effective upon filing pursuant to Rule&#160;462(b)
    promulgated under the Securities Act, and all post-effective
    amendments thereto, and to file the same, with all exhibits
    thereto and all documents in connection therewith, with the
    Securities and Exchange Commission, granting unto said
    attorneys-in-fact and agents, and each of them, full power and
    authority to do and perform each and every act and thing
    requisite and necessary to be done in and about the premises, as
    fully to all intents and purposes as he or she might or could do
    in person, hereby ratifying and confirming all that said
    attorneys-in-fact and agents or any of them, or his, her or
    their substitute or substitutes, may lawfully do or cause to be
    done or by virtue hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    Pursuant to the requirements of the Securities Act, this
    Registration Statement has been signed by the following persons
    in the capacities and on the dates indicated:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="29%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="23%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="23%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="18%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    Principal Executive Officer:
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;<FONT style="font-variant: SMALL-CAPS">Steven
    W. Streit</FONT></DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Steven
    W. Streit
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Chairman, President and<BR>
    Chief Executive Officer
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    February&#160;26 , 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    Principal Financial Officer:
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;<FONT style="font-variant: SMALL-CAPS">John
    L. Keatley</FONT></DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>John
    L. Keatley
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Chief Financial Officer
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    February&#160;26, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="center" valign="top">
    Principal Accounting Officer:
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;<FONT style="font-variant: SMALL-CAPS">Simon
    M. Heyrick</FONT></DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Simon
    M. Heyrick
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    Chief Accounting Officer
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    February&#160;26, 2010
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    II-5
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="29%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="23%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="23%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="18%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Title</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Date</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 12pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
    Additional Directors:
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;<FONT style="font-variant: SMALL-CAPS">Kenneth
    C. Aldrich</FONT></DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Kenneth
    C. Aldrich
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    February&#160;26, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;<FONT style="font-variant: SMALL-CAPS">Timothy
    R. Greenleaf</FONT></DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Timothy
    R. Greenleaf
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    February&#160;26, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;<FONT style="font-variant: SMALL-CAPS">Virginia
    L. Hanna</FONT></DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Virginia
    L. Hanna
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    February&#160;26, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;<FONT style="font-variant: SMALL-CAPS">Michael
    J. Moritz</FONT></DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>Michael
    J. Moritz
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    February&#160;26, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;<FONT style="font-variant: SMALL-CAPS">William
    H. Ott, Jr.</FONT></DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>William
    H. Ott, Jr.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    February&#160;26, 2010
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD colspan="3">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;<FONT style="font-variant: SMALL-CAPS">W.
    Thomas Smith, Jr.</FONT></DIV><BR>
    <DIV style="font-size: 2pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>W.
    Thomas Smith, Jr.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Director
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    February&#160;26, 2010
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
    <BR>
    II-6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: Arial, Helvetica">EXHIBIT&#160;INDEX</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="91%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exhibit<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Number</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Exhibit Title</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    1
</TD>
<TD nowrap align="left" valign="top">
    .01*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Underwriting Agreement.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .01*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Ninth Amended and Restated Certificate of Incorporation of the
    Registrant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .02*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Restated Certificate of Incorporation of the Registrant,
    to be effective upon the consummation of this offering.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .03
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Bylaws of the Registrant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    3
</TD>
<TD nowrap align="left" valign="top">
    .04*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Restated bylaws of the Registrant, to be effective upon
    closing of this offering.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .01*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Registrant&#146;s Class&#160;A Common Stock certificate.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .02*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Eighth Amended and Restated Registration Rights Agreement by and
    among the Registrant and the preferred stockholders and certain
    warrant holders of the Registrant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    5
</TD>
<TD nowrap align="left" valign="top">
    .01*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Opinion of Fenwick&#160;&#038; West LLP regarding the legality
    of the securities being registered.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .01*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Indemnity Agreement.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .02*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2001 Stock Plan and form of option grant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .03*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2010 Equity Incentive Plan and form of option grant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .04
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Lease Agreement between Registrant and Foothill Technology
    Center, dated July&#160;8, 2005, as amended on August&#160;21,
    2008 and July&#160;30, 2009.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .05*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Prepaid Card Program Agreement dated as of October&#160;20, 2006
    by and among the Registrant, Wal-Mart Stores, Inc., Wal-Mart
    Stores Texas, L.P., Wal-Mart Louisiana, LLC, Wal-Mart Stores
    East, Inc., and Wal-Mart Stores, L.P. and GE Money Bank, as
    amended.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .06*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Card Program Services Agreement, dated as of October&#160;27,
    2006, by and between the Registrant and GE Money Bank, as
    amended.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .07*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Program Agreement, dated as of November&#160;1, 2009, by and
    between the Registrant and Columbus Bank and Trust&#160;Company.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .08*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Agreement for Services, dated as of September&#160;1, 2009, by
    and between the Registrant and Total System Services, Inc.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .09*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Master Services Agreement, dated as of May&#160;28, 2009, by and
    between the Registrant and Genpact International, Inc.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .10
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Fifth Amended and Restated Loan and Line of Credit Agreement
    between Columbus Bank and Trust&#160;Company and Registrant,
    dated March&#160;24, 2009.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .11
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Offer letter to William D. Sowell from the Registrant, dated
    January&#160;28, 2009.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .12
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Employment Agreement between the Registrant and Mark T.
    Troughton, dated July&#160;20, 2004.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .13
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    FY2009 Management Cash Incentive Compensation Plan.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .14
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Description of FY2010 Management Cash Incentive Compensation
    Plan.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .15*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Warrant to purchase shares of common stock of the Registrant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    10
</TD>
<TD nowrap align="left" valign="top">
    .16
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Preferred Stock Warrant to purchase shares of
    <FONT style="white-space: nowrap">Series&#160;C-1</FONT>
    preferred stock of the Registrant.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .01*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Fenwick&#160;&#038; West LLP (included in
    Exhibit&#160;5.01).
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    23
</TD>
<TD nowrap align="left" valign="top">
    .02
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Ernst&#160;&#038; Young LLP, independent registered
    public accounting firm.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    24
</TD>
<TD nowrap align="left" valign="top">
    .01
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Power of Attorney (included on
    <FONT style="white-space: nowrap">page&#160;II-5).</FONT>
</TD>
</TR>
</TABLE>

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    * </TD>
    <TD></TD>
    <TD valign="bottom">
    To be filed by amendment.</TD>
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{"company-data": {"conformed-name": "GREEN DOT CORP", "cik": "0001386278", "irs-number": "000000000", "state-of-incorporation": "DE"}, "filing-values": {"form-type": "S-1", "act": "33", "file-number": "333-165081", "film-number": "10635783"}, "business-address": {"street1": "605 E HUNTINGTON DRIVE", "street2": "SUITE 205", "city": "MONROVIA", "state": "CA", "zip": "91016", "phone": "6267753400"}, "mail-address": {"street1": "605 E HUNTINGTON DRIVE", "street2": "SUITE 205", "city": "MONROVIA", "state": "CA", "zip": "91016"}}
sv1
Table of Contents
As filed with the Securities and Exchange Commission on
    February 26, 2010
Registration
No. 333-
UNITED STATES SECURITIES AND
    EXCHANGE COMMISSION
Washington, D.C.
    20549
Form S-1
REGISTRATION
    STATEMENT
UNDER
THE SECURITIES ACT OF
    1933
GREEN DOT CORPORATION
(Exact name of Registrant as
    specified in its charter)
Delaware
7389
93-4766827
(State or other jurisdiction
    of
incorporation or organization)
(Primary standard industrial
classification code number)
(I.R.S. employer
identification no.)
605 East Huntington Drive,
    Suite 205
Monrovia, CA 91016
(626) 739-3942
(Address, including zip code,
    and telephone number, including area code, of Registrant's
    principal executive offices)
John C. Ricci
General Counsel
Green Dot Corporation
605 East Huntington Drive,
    Suite 205
Monrovia, CA 91016
(626) 739-3942
(Name, address, including zip
    code, and telephone number, including area code, of agent for
    service)
Copies to:
Laird H. Simons III, Esq.
William V. Fogg, Esq.
William L. Hughes, Esq.
Daniel A. O'Shea, Esq.
James D. Evans, Esq.
Cravath, Swaine & Moore LLP
Fenwick & West LLP
Worldwide Plaza
801 California Street
825 Eighth Avenue
Mountain View, CA 94041
New York, NY 10019
(650) 988-8500
(212) 474-1000
Approximate date of commencement of proposed sale to the
    public:
As soon as practicable after the
    effective date of this Registration Statement.
If any of the securities being registered on this Form are to be
    offered on a delayed or continuous basis pursuant to
    Rule 415 under the Securities Act of 1933, check the
    following
    box.
o
If this Form is filed to register additional securities for an
    offering pursuant to Rule 462(b) under the Securities Act
    of 1933, check the following box and list the Securities Act
    registration statement number of the earlier effective
    registration statement for the same
    offering.
o
If this Form is a post-effective amendment filed pursuant to
    Rule 462(c) under the Securities Act of 1933, check the
    following box and list the Securities Act registration statement
    number of the earlier effective registration statement for the
    same
    offering.
o
If this Form is a post-effective amendment filed pursuant to
    Rule 462(d) under the Securities Act of 1933, check the
    following box and list the Securities Act registration statement
    number of the earlier effective registration statement for the
    same
    offering.
o
Indicate by check mark whether the registrant is a large
    accelerated filer, an accelerated filer, a non-accelerated
    filer, or a smaller reporting company. See the definitions of
    "large accelerated filer," "accelerated
    filer" and "smaller reporting company" in
Rule 12b-2
of the Exchange Act. (Check one):
Large accelerated filer
o
Accelerated filer
o
Non-accelerated filer
þ
Smaller reporting company
o
(Do not check if a smaller reporting company)
CALCULATION OF REGISTRATION
    FEE
Proposed Maximum
Amount of
Title of Each Class of
Aggregate
Registration
Securities to be Registered
Offering Price(1)
Fee
Class A Common Stock, par value $0.001 per share
$150,000,000
$10,695.00
(1)
Estimated solely for the purpose of
    calculating the amount of the registration fee pursuant to
    Rule 457(o) under the Securities Act of 1933.
The Registrant hereby amends this Registration Statement on
    such date or dates as may be necessary to delay its effective
    date until the Registrant shall file a further amendment that
    specifically states that this Registration Statement shall
    thereafter become effective in accordance with Section 8(a)
    of the Securities Act of 1933 or until the Registration
    Statement shall become effective on such date as the Commission,
    acting pursuant to said Section 8(a), may determine.
Table of Contents
The
information in this preliminary prospectus is not complete and
may be changed. Neither we nor the selling stockholders may sell
these securities until the registration statement filed with the
Securities and Exchange Commission is effective. This
preliminary prospectus is not an offer to sell these securities,
and neither we nor the selling stockholders are soliciting an
offer to buy these securities, in any state where the offer or
sale is not permitted.
PRELIMINARY
    PROSPECTUS
Subject
    to completion, dated February 26, 2010
Shares
Class A
    Common Stock
This is an
    initial public offering of shares of the Class A common
    stock of Green Dot Corporation. We are
    selling           shares
    of our Class A common stock, and the selling stockholders
    are
    selling           shares
    of our Class A common stock. We will not receive any
    proceeds from the sale of shares of our Class A common
    stock by the selling stockholders. The estimated initial public
    offering price is between $      and
    $      per share.
We have two
    classes of authorized common stock, Class A common stock
    and Class B common stock. The rights of the holders of our
    Class A common stock and our Class B common stock are
    identical, except with respect to voting and conversion. Each
    share of our Class A common stock will be entitled to one
    vote per share. Each share of our Class B common stock will
    be entitled to ten votes per share and will be convertible at
    any time into one share of our Class A common stock.
We intend to
    apply for the listing of our Class A common stock on the
    NYSE under the symbol
    ''     ."
Per
    Share
Total
Initial public offering price
$
$
Underwriting discounts and commissions
$
$
Proceeds to Green Dot, before expenses
$
$
Proceeds to the selling stockholders, before expenses
$
$
Green Dot
    and the selling stockholders have granted the underwriters an
    option for a period of 30 days from the date of this
    prospectus to purchase from them up
    to          
    additional shares of our Class A common stock to cover
    over-allotments, if any.
Investing
    in our Class A common stock involves a high degree of risk.
    See "Risk Factors" beginning on page 9 of this
    prospectus.
Neither the
    Securities and Exchange Commission nor any state securities
    commission has approved or disapproved of these securities or
    passed on the adequacy or accuracy of this prospectus. Any
    representation to the contrary is a criminal offense.
Delivery of
    the shares of our Class A common stock will be made on or
    about          ,
    2010.
J.P.
    Morgan
Morgan Stanley
Piper
    Jaffray
UBS Investment Bank
,
    2010
TABLE OF
    CONTENTS
Page
Prospectus Summary
1
Risk Factors
9
Special Note Regarding Forward-Looking
    Statements
25
Industry and Market Data
26
Use of Proceeds
27
Dividend Policy
27
Capitalization
28
Dilution
30
Selected Consolidated Financial Data
32
Management's Discussion and Analysis of
    Financial Condition and Results of Operations
35
Business
56
Management
74
Executive Compensation
80
Transactions with Related Parties, Founders and
    Control Persons
96
Principal and Selling Stockholders
98
Description of Capital Stock
102
Shares Eligible for Future Sale
107
Underwriting
110
Legal Matters
114
Experts
114
Where You Can Find Additional Information
114
Index to Consolidated Financial Statements
F-1
You should rely only on the information contained in this
    prospectus or in any free writing prospectus prepared by or on
    behalf of us and delivered or made available to you. Neither we
    nor the selling stockholders have authorized anyone to provide
    you with information different from that contained in this
    prospectus. We and the selling stockholders are offering to
    sell, and seeking offers to buy, shares of our Class A
    common stock only in jurisdictions where offers and sales are
    permitted. The information contained in this prospectus is
    accurate only as of the date of this prospectus, regardless of
    the time of delivery of this prospectus or of any sale of our
    Class A common stock. Our business, financial condition,
    results of operations and prospects may have changed since that
    date.
No action is being taken in any jurisdiction outside the United
    States to permit a public offering of our Class A common
    stock or possession or distribution of this prospectus in that
    jurisdiction. Persons who come into possession of this
    prospectus in jurisdictions outside the United States are
    required to inform themselves about and to observe any
    restrictions as to this offering and the distribution of this
    prospectus applicable to that jurisdiction.
Until          ,
    2010, all dealers that buy, sell or trade in our Class A
    common stock, whether or not participating in this offering, may
    be required to deliver a prospectus. This is in addition to the
    dealers' obligation to deliver a prospectus when acting as
    underwriters and with respect to their unsold allotments or
    subscriptions.
Table of Contents
PROSPECTUS
    SUMMARY
This summary highlights selected information contained
    elsewhere in this prospectus. This summary does not contain all
    the information you should consider before investing in our
    Class A common stock. You should read the entire prospectus
    carefully, including the section entitled "Risk
    Factors" and our consolidated financial statements and
    related notes included elsewhere in this prospectus, before
    making an investment in our Class A common stock.
Green Dot
    Corporation
Green Dot is a leading prepaid financial services company
    providing simple, low-cost and convenient money management
    solutions to a broad base of U.S. consumers. We believe
    that we are the leading provider of general purpose reloadable
    prepaid debit cards in the United States and that our Green Dot
    Network is the leading prepaid reload network in the United
    States. We sell our cards and offer our reload services
    nationwide at approximately 50,000 retail stores, which provide
    consumers convenient access to our products and services. Our
    proprietary technology platform, Green PlaNET, enables real-time
    transactions in a secure environment. The combination of our
    innovative products, broad retail distribution and proprietary
    technology creates powerful network effects, which we believe
    enhance the value we deliver to our customers, retail
    distributors and other participants in our network.
We were an early pioneer in the development of general purpose
    reloadable prepaid debit cards, or GPR cards, and associated
    reload services, which collectively we refer to as prepaid
    financial services. GPR cards are designed for general spending
    purposes and can be used anywhere the cards' applicable
    payment network, such as Visa or MasterCard, is accepted, but,
    unlike gift cards, can be reloaded with additional funds for
    ongoing, long-term use. We believe that we are the leading
    provider of GPR cards in the United States based on the
    2.4 million active cards in our portfolio as of
    October 31, 2009, which we define as cards that have had a
    purchase, reload or ATM transaction during the previous
90-day
period.
We have built strong distribution and marketing relationships
    with many significant retail chains, including Walmart,
    Walgreens, CVS, Rite Aid, Kroger, Radio Shack, K-Mart, Meijer
    and 7-Eleven. These retail chains provide consumers with
    convenient locations to purchase and reload our cards. In
    addition, any holder of a GPR card issued by a member of our
    reload network may reload that card at any one of those
    locations. Currently, there are over 100 third-party programs
    that use our nationwide reload network to facilitate reloading
    by their cardholders. We have also recently entered into an
    agreement with PayPal whereby its customers can add funds to any
    new or existing PayPal account through our reload network at all
    retail locations where we sell our products and services. In
    fiscal 2009, the gross dollar volume loaded to our GPR card and
    reload products was $4.7 billion, an increase of 66% over
    fiscal 2008.
We have developed a business model with powerful network
    effects. Growth in the number of our product and service
    offerings or our network participants, which include consumers,
    retail distributors and businesses that accept reloads or
    payments through the Green Dot Network, enhances the value we
    deliver to all network participants. Our proprietary technology
    platform, Green PlaNET, enables network participants to
    communicate and complete transactions on a real-time basis in a
    secure environment and is a central component of our
    network-based business model.
For the years ended July 31, 2007, 2008 and 2009 and the
    three months ended October 31, 2009, our total operating
    revenues were $83.6 million, $168.1 million,
    $234.8 million and $66.3 million, respectively. In the
    same periods, we generated operating income of
    $1.2 million, $29.2 million, $63.7 million and
    $17.9 million, respectively.
1
Table of Contents
Industry
    Overview
Prepaid cards have emerged as an attractive product within the
    electronic payments industry. They are easy for consumers to
    understand and use because they work in a manner similar to
    traditional debit cards, allowing the cardholder to use a
    conventional plastic card linked to an account established at a
    financial institution. According to Mercator Advisory
    Group's "Prepaid Market Forecast 2009 to 2012"
    research report, $8.7 billion was loaded onto GPR cards in
    the United States in 2008 and $118.5 billion is expected to
    be loaded onto GPR cards in the United States in 2012,
    reflecting a 92% compound annual growth rate during that
    four-year period. We believe that this growth in the use of GPR
    cards will contribute to a substantial increase in the demand
    for prepaid financial services.
The prepaid financial services industry is fragmented and its
    products are relatively early in their life cycles. Vendors
    generally do not have a broad set of product and service
    offerings or capabilities, and no single vendor currently
    provides all of the elements that are necessary to establish and
    operate a GPR card program. We believe this creates a
    significant opportunity for a vertically integrated provider
    with a broad suite of innovative products and services.
Our Competitive
    Strengths
Our combination of innovative products and marketing expertise,
    a known brand name, a nationwide retail distribution presence
    and a proprietary technology platform supports our network-based
    business model and has enabled us to become a leading provider
    of prepaid financial services in the United States. Our
    strengths include:
•
Innovative Product and Marketing Expertise.
We
    are an innovator in the development, merchandising and marketing
    of prepaid financial services. We believe we were the first
    company to combine the products, technology platform and
    distribution channel required to make retailer-distributed GPR
    cards a viable product offering. Our consumer focus has led us
    to enhance our product packaging and product displays in retail
    locations to educate consumers and promote our products and
    services more effectively. We believe that we have the strongest
    brand in the prepaid financial services industry and we continue
    to build brand awareness using national television advertising.
•
Leading Retail Distribution.
We have
    established a nationwide retail distribution network, consisting
    of approximately 50,000 retail store locations, which gives us
    access to the vast majority of the U.S. population.
    According to Scarborough Research, during the twelve months
    ended October 31, 2009, at least 93% of
    U.S. households shopped at one or more of the stores of our
    current retail distributors.
•
Leading Reload Network in the United
    States.
We believe the Green Dot Network is the
    leading reload network for prepaid cards in the United States.
    We also believe that it can be expanded and adapted to many new
    and evolving applications in the electronic payments industry.
•
Proprietary Technology Platform.
Green PlaNET,
    our centralized processing platform, contains a variety of
    proprietary software applications that run our front-end,
    back-end, anti-fraud, regulatory compliance and customer service
    processing systems. It enables us to develop, distribute and
    support a variety of products and services effectively.
•
Business Model with Powerful Network
    Effects.
The combination of our broad group of
    products and services, large portfolio of active cards,
    nationwide footprint of retail distributors and proprietary
    technology platform creates powerful network effects. Growth in
    the number of our product and service offerings or network
    participants enhances the value we deliver to all network
    participants. For example, we are able to attract retail
    distributors because of the large number of consumers who
    actively use our reload network. We believe the breadth and
    depth of our network would be difficult to replicate and
    represents a significant competitive advantage, as well as a
    barrier to entry for potential competitors.
2
Table of Contents
•
Vertical Integration.
We believe that we are
    more vertically integrated than our competitors, based on our
    distribution capabilities, processing platform, program
    management skills and proprietary reload network. This
    integration has allowed us to reduce costs across our operations
    and, we expect, will continue to provide us with opportunities
    to reduce operational costs in the future. It also enables us to
    scale our business quickly in response to rising demand and to
    ensure high-quality service for our customers.
•
Strong Regulatory and Compliance
    Infrastructure.
We employ a proactive approach to
    licensing, regulatory and compliance matters, which we believe
    provides us with an important competitive advantage. We believe
    that this has helped us develop strong relationships with
    leading retailers and financial institutions and has prepared us
    well for changes in the regulatory environment.
Our
    Strategy
The key components of our strategy include:
•
Increasing the Number of Network
    Participants.
We intend to enhance the network
    effects in our business model by:
•
attracting new users by introducing new products, improving
    current products and promoting our products;
•
expanding and strengthening our distribution by establishing
    relationships with additional high-quality retail chains and
    accelerating our entry into new distribution channels; and
•
adding businesses that accept reloads or payments through, and
    applications for, the Green Dot Network by continuing to enroll
    additional third-party program providers in our reload network
    and to identify additional uses for our reload network's
    cash transfer technology.
•
Increasing Revenue per Customer.
We intend to
    pursue greater revenue per customer by improving cardholder
    retention, increasing card usage and increasing adoption of
    optional revenue-generating services.
•
Improving Operating Efficiencies.
We intend to
    leverage our growing scale and vertical integration to generate
    incremental operating efficiencies, which will provide us with
    the flexibility to engage in new marketing programs, reduce
    pricing and make other investments in our business to maintain
    our leadership position.
•
Broadening Brand and Product Awareness.
We
    intend to broaden awareness of the Green Dot brand and our
    products and services through national television advertising,
    online advertising and ongoing enhancements to our packaging and
    merchandising.
•
Acquiring a Bank and Complementary
    Businesses.
We intend to pursue acquisitions that
    will help us achieve our strategic objectives, particularly
    those designed to improve operating revenue growth and operating
    efficiencies. In February 2010, we entered into a definitive
    agreement to acquire a bank holding company and its subsidiary
    commercial bank, and filed applications with the appropriate
    federal and state regulators seeking approvals for this
    transaction. We believe this acquisition will increase the
    efficiency with which we introduce and manage potential new
    products and services, reduce the risk that we would be
    negatively impacted by changes in the business practices of the
    banks that issue our cards, reduce the sponsorship and service
    fees and other expenses that we pay to third parties, and allow
    us to serve our customers better and more efficiently through a
    more vertically integrated platform.
Risks Affecting
    Us
Our business is subject to numerous risks, which are highlighted
    in the section entitled "Risk Factors" immediately
    following this prospectus summary. These risks represent
    challenges to the
3
Table of Contents
successful implementation of our strategy and to the growth and
    future profitability of our business. Some of these risks
    include:
•
our growth rates may decline in the future;
•
operating revenues derived from sales at Walmart and our other
    three largest retail distributors represented 64%, 9%, 8% and
    6%, respectively, of our total operating revenues during the
    three months ended October 31, 2009, and the loss of
    operating revenues from any of these retail distributors would
    adversely affect our business;
•
our future success depends upon our retail distributors'
    active and effective promotion of our products and services, but
    their interests and operational decisions might not always align
    with our interests;
•
the industry in which we compete is highly competitive and has a
    number of major participants, which could adversely affect our
    operating revenue growth; and
•
we operate in a highly regulated environment; failure to comply
    with applicable laws or regulations, or changes in those laws or
    regulations that adversely affect our operating methods, could
    negatively impact our business.
Corporate History
    and Information
We were incorporated in Delaware in October 1999 as Next Estate
    Communications, Inc. and changed our name to Green Dot
    Corporation in October 2005. Our principal executive offices are
    located at 605 East Huntington Drive, Suite 205, Monrovia,
    California 91016, and our telephone number is
(626) 739-3942.
Our website address is www.greendot.com. The information on, or
    that can be accessed through, our website is not incorporated by
    reference into this prospectus and should not be considered to
    be a part of this prospectus.
Unless otherwise indicated, the terms "Green Dot,"
    "we," "us" and "our" refer to
    Green Dot Corporation, a Delaware corporation, together with its
    consolidated subsidiary, the term "prepaid cards"
    refers to prepaid debit cards and the term "our cards"
    refers to our Green Dot-branded and co-branded GPR cards. In
    addition, "prepaid financial services" refers to GPR
    cards and associated reload services, a segment of the prepaid
    card industry.
Green Dot and MoneyPak are our registered trademarks in the
    United States, and the Green Dot logo is our trademark. Other
    trademarks appearing in this prospectus are the property of
    their respective holders.
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The
    Offering
Class A common stock offered by us
shares
Class A common stock offered by the selling stockholders
shares
Class A common stock to be outstanding after this offering
shares
Class B common stock to be outstanding after this offering
shares(1)
Total common stock to be outstanding after this offering
shares
Voting rights
We have two classes of authorized common stock: Class A
    common stock and Class B common stock. The rights of the
    holders of our Class A and Class B common stock are
    identical, except with respect to voting and conversion. The
    holders of our Class B common stock are entitled to 10
    votes per share, and the holders of our Class A common
    stock are entitled to one vote per share. The holders of our
    Class A common stock and Class B common stock will
    vote together as a single class on all matters submitted to a
    vote of our stockholders, unless otherwise required by law. Each
    share of our Class B common stock is convertible into one
    share of our Class A common stock at any time and will
    convert automatically upon certain transfers or the date that
    the total number of shares of Class B common stock
    outstanding represents less than 10% of the total number of
    shares of Class A and Class B common stock
    outstanding. See "Description of Capital Stock."
Use of proceeds
We expect to use the net proceeds of this offering for general
    corporate purposes, including working capital and capital
    expenditures. We may also use a portion of the net proceeds to
    acquire or invest in complementary businesses, products,
    services, technologies or assets. We will not receive any
    proceeds from the sale of shares by the selling stockholders.
    See "Use of Proceeds."
Dividends
We have never declared or paid any cash dividends on our capital
    stock, and we do not currently intend to pay any cash dividends
    on our Class A common stock for the foreseeable future.
Proposed NYSE symbol
(1)
The shares of our Class B common stock outstanding after
    this offering will represent
    approximately     % of the total number
    of shares of our Class A and Class B common stock
    outstanding after this offering
    and     % of the combined voting power
    of our Class A and Class B common stock outstanding
    after this offering.
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The number of shares of our Class A and Class B common
    stock to be outstanding after this offering is based upon shares
    outstanding as of October 31, 2009, and excludes:
•
4,963,547 shares of our Class B common stock issuable
    upon the exercise of stock options outstanding as of
    October 31, 2009 with a weighted average exercise price of
    $4.25 per share
    (including           shares
    of our Class A common stock that we expect to be sold in
    this offering by certain selling stockholders upon the exercise
    of vested stock options with a weighted average exercise price
    of $      per share);
•
1,392,250 shares of our Class B common stock issuable
    upon the exercise of stock options granted after
    October 31, 2009 with a weighted average exercise price of
    $20.48 per share;
•
259,584 shares of our Class B common stock granted as
    restricted stock awards after October 31, 2009;
•
4,567,242 shares of our Class B common stock issuable
    upon the exercise of warrants outstanding as of October 31,
    2009 with a weighted average exercise price of $22.31 per share,
    including a warrant to purchase up to 4,283,456 shares that
    is exercisable only upon the achievement of performance goals
    specified in our arrangement with PayPal, Inc.; and
•
shares
    of our Class A common stock reserved for issuance under our
    2010 Equity Incentive Plan, which will become effective on the
    first day that our Class A common stock is publicly traded,
    as more fully described in "Executive
    Compensation – Employee Benefit Plans – 2010
    Equity Incentive Plan."
Except as otherwise indicated, all information in this
    prospectus assumes:
•
the automatic conversion of all outstanding shares of our
    preferred stock into 24,941,521 shares of our Class B
    common stock and the conversion by the selling stockholders
    of           shares
    of our Class B common stock into a like number of shares of
    our Class A common stock, in each case immediately prior to
    the completion of this offering;
•
the filing of our restated certificate of incorporation and the
    effectiveness of our restated bylaws, which will occur
    immediately following the completion of the offering; and
•
no exercise by the underwriters of their option to purchase up
    to an
    additional           shares
    of our Class A common stock from us and the selling
    stockholders in this offering.
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Summary
    Consolidated Financial and Other Data
The following tables present summary historical financial data
    for our business. You should read this information together with
    "Selected Consolidated Financial Data,"
    "Management's Discussion and Analysis of Financial
    Condition and Results of Operations" and our consolidated
    financial statements and related notes, each included elsewhere
    in this prospectus.
We derived the statement of operations data for the years ended
    July 31, 2007, 2008 and 2009 from our audited consolidated
    financial statements included elsewhere in this prospectus. We
    derived the statement of operations data for the years ended
    July 31, 2005 and 2006 from our unaudited consolidated
    financial statements not included in this prospectus. We derived
    the statement of operations data for the three months ended
    October 31, 2008 and 2009 and the balance sheet data as of
    October 31, 2009 from our unaudited consolidated financial
    statements included elsewhere in this prospectus, which have
    been prepared on a consistent basis with our audited
    consolidated financial statements. In the opinion of our
    management, these unaudited financial data reflect all
    adjustments, consisting of normal and recurring adjustments,
    necessary for a fair statement of our results for those periods.
    Our historical results are not necessarily indicative of our
    results to be expected in any future period.
The pro forma per share data give effect to the conversion of
    all currently outstanding shares of our convertible preferred
    stock into shares of our Class B common stock upon the
    closing of this offering, as though the conversion had occurred
    at the beginning of the indicated fiscal period. For further
    information concerning the calculation of pro forma per share
    information, please refer to note 2 and note 12 of our
    notes to consolidated financial statements.
Three Months Ended
Year Ended July 31,
October 31,
2005
2006
2007
2008
2009
2008
2009
(Unaudited)
(Unaudited)
(In thousands, except per share amounts)
Consolidated Statement of Operations Data:
Operating revenues:
Card revenues
$21,771
$36,359
$45,717
$91,233
$119,356
$27,635
$30,532
Cash transfer revenues
12,064
20,616
25,419
45,310
62,396
14,556
17,807
Interchange revenues
5,705
9,975
12,488
31,583
53,064
10,418
17,926
Total operating revenues
39,540
66,951
83,624
168,126
234,816
52,609
66,265
Operating expenses:
Sales and marketing expenses
19,148
28,660
38,838
69,577
75,786
20,538
18,165
Compensation and benefits expenses(1)
11,584
18,499
20,610
28,303
40,096
9,191
12,067
Processing expenses
6,990
8,547
9,809
21,944
32,320
7,297
10,053
Other general and administrative expenses
6,521
10,077
13,212
19,124
22,944
5,747
8,103
Total operating expenses
44,243
65,783
82,469
138,948
171,146
42,773
48,388
Operating income
(4,703
)
1,168
1,155
29,178
63,670
9,836
17,877
Interest income
300
301
771
665
396
210
60
Interest expense
(474
)
(823
)
(625
)
(247
)
(1
)
—
—
Income before income taxes
(4,877
)
645
1,301
29,596
64,065
10,046
17,937
Income tax expense (benefit)
—
111
(3,346
)
12,261
26,902
4,219
7,533
Net income
(4,877
)
535
4,647
17,335
37,163
5,827
10,404
Dividends, accretion and allocated earnings of preferred stock
—
(367
)
(5,157
)
(13,650
)
(29,000
)
(4,409
)
(7,013
)
Net income (loss) allocated to common stockholders
$(4,877
)
$168
$(510
)
$3,685
$8,163
$1,418
$3,391
Earnings (loss) per common share:
Basic
$(0.48
)
$0.02
$(0.05
)
$0.34
$0.68
$0.12
$0.28
Diluted
$(0.48
)
$0.01
$(0.05
)
$0.26
$0.52
$0.09
$0.22
Weighted-average common shares issued and outstanding
10,228
10,873
11,100
10,757
12,036
12,026
12,060
Weighted-average diluted common shares issued and outstanding
10,228
13,194
11,100
14,154
15,712
16,034
15,318
Pro forma earnings per common share (unaudited):
Basic
$1.00
$0.28
Diluted
$0.91
$0.26
Pro forma weighted-average shares issued and outstanding
    (unaudited):
Basic
36,978
37,002
Diluted
40,654
40,260
(1)
Includes stock-based compensation
    expense of $0, $0, $156,000, $1.2 million and
    $2.5 million for the years ended July 31, 2005, 2006,
    2007, 2008 and 2009, respectively, and $586,000 and $712,000 for
    the three months ended October 31, 2008 and 2009,
    respectively.
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Three Months
Ended
Year Ended July 31,
October 31,
2005
2006
2007
2008
2009
2009
(Dollars in thousands)
Statistical Data (Unaudited):
Number of GPR cards activated
428,737
721,561
894,295
2,167,004
3,106,923
1,115,382
Number of cash transfers
2,262,854
4,055,775
4,992,956
9,153,119
14,084,458
4,766,488
Number of active cards as of period end(1)
289,086
428,300
625,165
1,270,072
2,056,828
2,368,530
Gross dollar volume(2)
$414,910
$801,956
$1,134,175
$2,831,278
$4,702,914
$1,586,895
(1)
Represents the total number of GPR
    cards in our portfolio that have had a purchase, reload or ATM
    withdrawal transaction during the previous
90-day
period.
(2)
Represents the total dollar volume
    of funds loaded to our GPR card and reload products in the
    specified period.
The following table presents unaudited consolidated balance
    sheet data as of October 31, 2009 on:
•
an actual basis; and
•
an as adjusted basis to give effect to the sale of
    the           shares
    of our Class A common stock offered by us in this
    prospectus at an assumed initial public offering price of
    $      per share, after deducting the
    estimated underwriting discounts and commissions and estimated
    offering expenses.
As of
October 31, 2009
Actual
As Adjusted(1)
(In thousands)
Consolidated Balance Sheet Data (Unaudited):
Cash, cash equivalents and restricted cash(2)
$
58,623
$
Settlement assets(3)
52,813
52,813
Total assets
161,628
Settlement obligations(3)
52,813
52,813
Long-term debt
—
—
Total liabilities
108,174
108,174
Total stockholders' equity
53,454
(1)
Each $1.00 increase or decrease in
    the assumed initial public offering price of
    $      per share would increase or
    decrease, respectively, our cash, cash equivalents and
    restricted cash, total assets and total stockholders'
    equity by approximately
    $      million, assuming the
    number of shares offered by us, as set forth on the cover page
    of this prospectus, remains the same and after deducting the
    estimated underwriting discounts and commissions.
(2)
Includes $15.4 million of
    restricted cash. We maintain restricted deposits in bank
    accounts to support our line of credit.
(3)
Our retail distributors collect
    customer funds for purchases of new cards and reloads and then
    remit these funds directly to bank accounts established on
    behalf of those customers by the banks that issue our cards. Our
    retail distributors' remittance of these funds takes an
    average of three business days. Settlement assets represent the
    amounts due from our retail distributors for customer funds
    collected at the point of sale that have not yet been remitted
    to the card issuing banks. Settlement obligations represent the
    amounts that are due from us to the card issuing banks for funds
    collected but not yet remitted by our retail distributors and
    are not funded by our line of credit. We have no control over or
    access to customer funds remitted by our retail distributors to
    the card issuing banks. Customer funds therefore are not our
    assets, and we do not recognize them in our consolidated
    financial statements.
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RISK
    FACTORS
This offering and an investment in our Class A common
    stock involve a high degree of risk. You should carefully
    consider the risks and uncertainties described below, together
    with all of the other information in this prospectus, including
    the consolidated financial statements and related notes
    appearing at the end of this prospectus, before deciding to
    invest in our Class A common stock. If any of the following
    risks actually occurs, our business, financial condition,
    results of operations and future prospects could be materially
    and adversely affected. In that event, the market price of our
    Class A common stock could decline and you could lose part
    or all of your investment.
Risks Related to
    Our Business
Our
    growth rates may decline in the future.
In recent quarters our operating income and net income, while
    still increasing significantly year over year, have not always
    increased sequentially and the rate at which our operating
    revenues have grown has declined. Accordingly, there can be no
    assurance that we will be able to continue our historical growth
    rates in future periods and we would expect seasonal or other
    influences occasionally to cause sequential quarterly declines
    in our operating income and net income. In the near term, our
    continued growth depends in significant part on our ability,
    among other things, to attract new users of our products, to
    expand our reload network and to increase our revenues per
    customer. Since the value we provide to our network participants
    relates in large part to the number of users of, businesses that
    accept reloads or payments through, and applications enabled by,
    the Green Dot Network, our operating revenues could suffer if we
    were unable to increase the number of purchasers of our GPR
    cards, and adapt our reload network to meet consumers'
    evolving needs. We may fail to expand our reload network for a
    number of reasons, including our inability to produce products
    and services that appeal to consumers and lead to increased new
    card sales, our loss of one or more key retail distributors or
    our loss of key, or failure to add, businesses that accept
    reloads or payments through the Green Dot Network, which we
    refer to as network acceptance members.
We may not be able to increase card usage and cardholder
    retention, which have been two important contributors to our
    growth. Currently, many of our cardholders use their cards
    infrequently or do not reload their cards. We may be unable to
    generate increases in card usage or cardholder retention for a
    number of reasons, including our inability to maintain our
    existing distribution channels, the failure of our cardholder
    retention and usage incentives to influence cardholder behavior,
    our inability to predict accurately consumer preferences or
    industry changes and to modify our products and services on a
    timely basis in response thereto, and our inability to produce
    new features and services that appeal to cardholders.
As the prepaid financial services industry continues to develop,
    our competitors may be able to offer products and services that
    are, or that are perceived to be, substantially similar to or
    better than ours. This may force us to compete on the basis of
    price and to expend significant advertising, marketing and other
    resources in order to remain competitive. Even if we are
    successful at increasing our operating revenues through our
    various initiatives and strategies, we will experience an
    inevitable decline in growth rates as our operating revenues
    increase to higher levels and may experience a decline in
    margins. If our operating revenue growth rates slow materially
    or decline, our business, operating results and financial
    condition could be adversely affected.
Operating
    revenues derived from sales at Walmart and our other three
    largest retail distributors represented 64%, 9%, 8% and 6%,
    respectively, of our total operating revenues during the three
    months ended October 31, 2009, and the loss of operating
    revenues from any of these retail distributors would adversely
    affect our business.
Most of our operating revenues are derived from prepaid
    financial services sold at our four largest retail distributors.
    As a percentage of total operating revenues, operating revenues
    derived from products and services sold at the store locations
    of Wal-Mart Stores, Inc. (or Walmart) and our three other
    largest retail distributors, as a group, were approximately 64%
    and 23%, respectively, in the three months ended
    October 31, 2009. While we do not expect our 2010 operating
    revenues derived
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from products and services sold at Walmart stores to increase as
    a percentage of our total operating revenues, we expect that
    Walmart and our other three largest retail distributors will
    continue to have a significant impact on our annual operating
    revenues in future years. It would be difficult to replace any
    of our large retail distributors, particularly Walmart, and the
    operating revenues derived from sales of our products and
    services at their stores. Accordingly, the loss of Walmart or
    any of our other three largest retail distributors would have a
    material adverse effect on our business, and might have a
    positive impact on the business of one of our competitors if it
    were able to replace us. In addition, any publicity associated
    with the loss of any of our large retail distributors could harm
    our reputation, making it more difficult to attract and retain
    consumers and other retail distributors, and could lessen our
    negotiating power with our remaining and prospective retail
    distributors.
Our contracts with these retail distributors have terms that
    expire at various dates between 2011 and 2013, subject to early
    termination provisions. There can be no assurance that we will
    be able to continue our relationships with our largest retail
    distributors on the same or more favorable terms in future
    periods or that our relationships will continue beyond the terms
    of our existing contracts with them. Our operating revenues and
    operating results could suffer if, among other things, any of
    our retail distributors renegotiates, terminates or fails to
    renew, or to renew on similar or favorable terms, its agreement
    with us or otherwise chooses to modify the level of support it
    provides for our products.
Our future success depends upon our retail
    distributors' active and effective promotion of our
    products and services, but their interests and operational
    decisions might not always align with our interests.
Substantially all of our operating revenues are derived from our
    products sold at the stores of our retail distributors. Revenues
    from our retail distributors depend on a number of factors
    outside our control and may vary from period to period. Because
    we compete with many other providers of consumer products for
    placement and promotion of products in the stores of our retail
    distributors, our success depends on our retail distributors and
    their willingness to promote our products and services
    successfully. In general, our contracts with these third parties
    allow them to exercise significant discretion over the placement
    and promotion of our products in their stores, and they could
    give higher priority to the products and services of other
    companies. Accordingly, losing the support of our retail
    distributors may limit or reduce the sales of our cards and
    MoneyPak reload product. Our operating revenues may also be
    negatively affected by our retail distributors' operational
    decisions. For example, if a retail distributor fails to train
    its cashiers to sell our products and services or implements
    changes in its systems that disrupt the integration between
    their systems and ours, we could experience a decline in our
    product sales.  Even if our retail distributors actively and
    effectively promote our products and services, there can be no
    assurance that their efforts will result in growth of our
    operating revenues.
The
    industry in which we compete is highly competitive, which could
    adversely affect our operating revenue growth.
The prepaid financial services industry is highly competitive
    and includes a variety of financial and non-financial services
    vendors. Our current and potential competitors include:
•
prepaid card program managers like First Data Corporation (or
    First Data), Netspend Corporation (or Netspend), AccountNow,
    Inc. (or AccountNow), PreCash Inc. (or PreCash) and UniRush, LLC
    (or Rush Card);
•
reload network providers, such as Visa, Inc. (or Visa),
    MasterCard International Incorporated (or MasterCard), The
    Western Union Company (or Western Union) and MoneyGram
    International, Inc. (or MoneyGram); and
•
prepaid card distributors, such as InComm and Blackhawk Network,
    Inc. (or Blackhawk).
Some of these vendors compete with us in more than one of the
    vendor categories described above, while others are primarily
    focused in a single category. In addition, competitors in one
    category have worked or are working with competitors in other
    categories to compete with us. A portion of our cash transfer
    revenues is derived from reloads to cards managed by companies
    that compete with
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us as program managers. We also face potential competition from
    retail distributors or from other companies, such as Visa, that
    may in the future decide to compete, or compete more
    aggressively, in the prepaid financial services industry.
We also compete with businesses outside of the prepaid financial
    services industry, including traditional providers of financial
    services, such as banks that offer demand deposit accounts and
    card issuers that offer credit cards, private label retail cards
    and gift cards.
Many existing and potential competitors have longer operating
    histories and greater name recognition than we do. In addition,
    many of our existing and potential competitors are substantially
    larger than we are, may already have or could develop
    substantially greater financial and other resources than we
    have, may offer, develop or introduce a wider range of programs
    and services than we offer or may use more effective advertising
    and marketing strategies than we do to achieve broader brand
    recognition, customer awareness and retail penetration. We may
    also face price competition that results in decreases in the
    purchase and use of our products and services. To stay
    competitive, we may have to increase the incentives that we
    offer to our retail distributors and decrease the prices of our
    products and services, which could adversely affect our
    operating results.
Our continued growth depends on our ability to compete
    effectively against existing and potential competitors that seek
    to provide prepaid cards or other electronic payment products
    and services. If we fail to compete effectively against any of
    the foregoing threats, our revenues, operating results,
    prospects for future growth and overall business could be
    materially and adversely affected.
We
    operate in a highly regulated environment, and failure by us or
    the businesses that participate in our reload network to comply
    with applicable laws and regulations could have an adverse
    effect on our business, financial position and results of
    operations.
We operate in a highly regulated environment, and failure by us
    or the businesses that participate in our reload network to
    comply with the laws and regulations to which we are subject
    could negatively impact our business. We are subject to state
    money transmission licensing requirements and a wide range of
    federal and other state laws and regulations, which are
    described under "Business – Regulation"
    below. In particular, our products and services are subject to
    an increasingly strict set of legal and regulatory requirements
    intended to protect consumers and to help detect and prevent
    money laundering, terrorist financing and other illicit
    activities.
Many of these laws and regulations are evolving, unclear and
    inconsistent across various jurisdictions and ensuring
    compliance with them is difficult and costly. For example, with
    increasing frequency, federal and state regulators are holding
    businesses like ours to higher standards of training, monitoring
    and compliance, including monitoring for possible violations of
    laws by the businesses that participate in our reload network.
    Failure by us or those businesses to comply with the laws and
    regulations to which we are subject could result in fines,
    penalties or limitations on our ability to conduct our business,
    or federal or state actions, any of which could significantly
    harm our reputation with network participants, banks that issue
    our cards, customers and regulators, and could materially and
    adversely affect our business, operating results and financial
    condition.
Changes
    in laws and regulations to which we are subject, or may become
    subject to, may increase our costs of operation, decrease our
    operating revenues and disrupt our business.
Changes in laws and regulations may occur that could increase
    our compliance and other costs of doing business, require
    significant systems redevelopment, or render our products or
    services less profitable or obsolete, which could have an
    adverse effect on our results of operations. We could face more
    stringent anti-money laundering rules and regulations, as well
    as more stringent licensing rules and regulations, compliance
    with which could be expensive and time consuming. For example,
    more stringent anti-money laundering regulations could require
    the collection and verification of more information from our
    customers, which could have a material adverse effect on our
    operations.
Changes in laws and regulations governing the way our products
    and services are sold could adversely affect our ability to
    distribute our products and services and the cost of providing
    those
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products and services. If onerous regulatory requirements were
    imposed on the sale of our products and services, the
    requirements could lead to a loss of retail distributors, which,
    in turn, could materially and adversely impact our operations.
In light of current economic conditions, legislators and
    regulators have increased their focus on the banking and
    consumer financial services industry, and there are extensive
    proposals in the U.S. Congress that could substantially change
    the way banks (including card issuing banks) and other financial
    services companies are regulated and able to offer their
    products to consumers. These changes, if made, could have an
    adverse effect on our business, financial position and results
    of operations. For example, changes in the way we or the banks
    that issue our cards are regulated could expose us to increased
    regulatory oversight and litigation. In addition, changes in
    laws and regulations that limit the fees that can be charged or
    the disclosures that must be provided with respect to our
    products and services could increase our costs and decrease our
    revenues.
Our
    pending bank acquisition will, if successful, subject our
    business to significant new, and potentially changing,
    regulatory requirements, which may adversely affect our
    business, financial position and results of
    operations.
Upon consummation of our pending bank acquisition, we will
    become a "bank holding company" under the Bank Holding
    Company Act of 1956, or BHC Act. As a bank holding company, we
    will be required to file periodic reports with, and will be
    subject to comprehensive supervision and examination by, the
    Federal Reserve Board. Among other things, we and the subsidiary
    bank we acquire will be subject to risk-based and leverage
    capital requirements, which could adversely affect our results
    of operations and restrict our ability to grow. These capital
    requirements, as well as other federal laws applicable to banks
    and bank holding companies, could also limit our ability to pay
    dividends. We also would likely incur additional costs
    associated with legal and regulatory compliance as a bank
    holding company, which could adversely affect our results of
    operations. In addition, as a bank holding company, we would
    generally be prohibited from engaging, directly or indirectly,
    in any activities other than those permissible for bank holding
    companies. This restriction might limit our ability to pursue
    future business opportunities we might otherwise consider but
    which might fall outside the activities permissible for a bank
    holding company. See "Business –
    Regulation – Bank Regulations."
Moreover, substantial changes to banking laws are possible in
    the near future. There are extensive proposals in the U.S.
    Congress that could substantially change the regulatory
    framework affecting our operations. These changes, if they are
    made, could have an adverse effect on our business, financial
    position and results of operations.
We
    rely on relationships with card issuing banks to conduct our
    business, and our results of operations and financial position
    could be materially and adversely affected if we fail to
    maintain these relationships or we maintain them under new terms
    that are less favorable to us.
Substantially all of our cards are issued by Columbus Bank and
    Trust Company or GE Money Bank. Our relationships with
    these banks are currently, and will be for the foreseeable
    future, a critical component of our ability to conduct our
    business and to maintain our revenue and expense structure,
    because we are currently unable to issue our own cards, and,
    notwithstanding our pending bank acquisition, will be unable to
    do so for the foreseeable future at the volume necessary to
    conduct our business, if at all. If we lose or do not maintain
    existing banking relationships, we would incur significant
    switching and other costs and expenses and we and users of our
    products and services could be significantly affected, creating
    contingent liabilities for us. As a result, the failure to
    maintain adequate banking relationships could have a material
    adverse effect on our business, results of operations and
    financial condition. Our agreements with the banks that issue
    our cards provide for revenue-sharing arrangements and cost and
    expense allocations between the parties. Changes in the costs
    and expenses that we have to bear under these relationships
    could have a material impact on our operating expenses. In
    addition, we may be unable to maintain adequate banking
    relationships or,
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following their expiration in 2012 and 2013, renew our
    agreements with the banks that currently issue substantially all
    our cards under terms at least as favorable to us as those
    existing before renewal.
We
    receive important services from third-party vendors, including
    card processing from Total System Services, Inc. Replacing them
    would be difficult and disruptive to our business.
Some services relating to our business, including fraud
    management and other customer verification services, transaction
    processing and settlement, card production and customer service,
    are outsourced to third-party vendors, such as Genpact
    International, Inc. for call center services and Total System
    Services, Inc. for card processing. It would be difficult to
    replace some of our third-party vendors, particularly Total
    System Services, in a timely manner if they were unwilling or
    unable to provide us with these services in the future, and our
    business and operations could be adversely affected.
Changes
    in credit card association or other network rules or standards
    set by Visa and MasterCard, or changes in card association and
    debit network fees or products or interchange rates, could
    adversely affect our business, financial position and results of
    operations.
We and the banks that issue our cards are subject to Visa and
    MasterCard association rules that could subject us to a variety
    of fines or penalties that may be levied by the card
    associations or networks for acts or omissions by us or
    businesses that work with us, including card processors, such as
    Total Systems Services, Inc. The termination of the card
    association registrations held by us or any of the banks that
    issue our cards or any changes in card association or other
    network rules or standards, including interpretation and
    implementation of existing rules or standards, that increase the
    cost of doing business or limit our ability to provide our
    products and services could have an adverse effect on our
    business, operating results and financial condition. In
    addition, from time to time, card associations increase the
    organization
and/or
processing fees that they charge, which could increase our
    operating expenses, reduce our profit margin and adversely
    affect our business, operating results and financial condition.
Furthermore, a substantial portion of our operating revenues is
    derived from interchange fees. For the three months ended
    October 31, 2009, interchange revenues represented 27.0% of
    our total operating revenues, and we expect interchange revenues
    to continue to represent a significant percentage of our total
    operating revenues in the near term. The amount of interchange
    revenues that we earn is highly dependent on the interchange
    rates that Visa and MasterCard unilaterally set and adjust from
    time to time. In light of recent legislation in foreign
    jurisdictions and recent attention generally on interchange
    rates in the United States, interchange rates could decline in
    the future. If that happens, our operating revenues, operating
    results, prospects for future growth and overall business could
    be materially and adversely affected.
Our
    business could suffer if there is a decline in the use of
    prepaid cards as a payment mechanism or there are adverse
    developments with respect to the prepaid financial services
    industry in general.
As the prepaid financial services industry evolves, consumers
    may find prepaid financial services to be less attractive than
    traditional or other financial services. Consumers might not use
    prepaid financial services for any number of reasons, including
    the general perception of our industry. For example, negative
    publicity surrounding other prepaid financial service providers
    could impact our business and prospects for growth to the extent
    it negatively impacts the perception of prepaid financial
    services among consumers. If consumers do not continue or
    increase their usage of prepaid cards, our operating revenues
    may remain at current levels or decline. Predictions by industry
    analysts and others concerning the growth of the prepaid
    financial services as an electronic payment mechanism, including
    those included in this prospectus, may overstate the growth of
    any industry, segment or category and you should not rely upon
    them. The projected growth may not occur or may occur more
    slowly than estimated. If consumer acceptance of prepaid
    financial services does not continue to develop or develops more
    slowly than expected or if there is a shift in the mix of
    payment forms, such as cash, credit cards, traditional debit
    cards and prepaid cards, away from our products
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and services, it could have a material adverse effect on our
    financial position and results of operations.
Fraudulent
    and other illegal activity involving our products and services
    could lead to reputational damage to us and reduce the use and
    acceptance of our cards and reload network.
Criminals are using increasingly sophisticated methods to
    capture cardholder account information in order to engage in
    illegal activities such as counterfeiting and identity theft. We
    rely upon third parties for some transaction processing
    services, which subjects us to risks related to the
    vulnerabilities of those third parties. A single significant
    incident of fraud, or increases in the overall level of fraud,
    involving our cards and other products and services, could
    result in reputational damage to us, which could reduce the use
    and acceptance of our cards and other products and services,
    cause retail distributors or network acceptance members to cease
    doing business with us or lead to greater regulation that would
    increase our compliance costs.
A
    data security breach could expose us to liability and protracted
    and costly litigation, and could adversely affect our reputation
    and operating revenues.
We, the banks that issue our cards, our retail distributors,
    network acceptance members and third-party processors receive,
    transmit and store confidential customer and other information
    in connection with the sale and use of our prepaid financial
    services. Our encryption software and the other technologies we
    use to provide security for storage, processing and transmission
    of confidential customer and other information may not be
    effective to protect against data security breaches by third
    parties. The risk of unauthorized circumvention of our security
    measures has been heightened by advances in computer
    capabilities and the increasing sophistication of hackers. The
    banks that issue our cards and our retail distributors, network
    acceptance members and third-party processors also may
    experience similar security breaches involving the receipt,
    transmission and storage of our confidential customer and other
    information. Improper access to our or these third parties'
    systems or databases could result in the theft, publication,
    deletion or modification of confidential customer and other
    information.
A data security breach of the systems on which sensitive
    cardholder data and account information are stored could lead to
    fraudulent activity involving our products and services,
    reputational damage and claims or regulatory actions against us.
    If we are sued in connection with any data security breach, we
    could be involved in protracted and costly litigation. If
    unsuccessful in defending that litigation, we might be forced to
    pay damages
and/or
change our business practices or pricing structure, either of
    which could have a material adverse effect on our revenues and
    profitability. We would also likely have to pay (or indemnify
    the banks that issue our cards for) fines, penalties
and/or
other
    assessments imposed by Visa or MasterCard as a result of any
    data security breach. Further, a significant data security
    breach could lead to additional regulation, which could impose
    new and costly compliance obligations. In addition, a data
    security breach at one of the banks that issue our cards or at
    our retail distributors, network acceptance members or
    third-party processors could result in significant reputational
    harm to us and cause the use and acceptance of our cards to
    decline, both of which could have a significant adverse impact
    on our operating revenues and future growth prospects.
Litigation
    or investigations could result in significant settlements, fines
    or penalties.
We have been the subject of general litigation and regulatory
    oversight in the past, and could be the subject of litigation,
    including class actions, and regulatory or judicial proceedings
    or investigations in the future. The outcome of litigation and
    regulatory or judicial proceedings or investigations is
    difficult to predict. Plaintiffs or regulatory agencies in these
    matters may seek recovery of very large or indeterminate amounts
    or seek to have aspects of our business suspended or modified.
    The monetary and other impact of these actions may remain
    unknown for substantial periods of time. The cost to defend,
    settle or otherwise resolve these matters may be significant.
If regulatory or judicial proceedings or investigations were to
    be initiated against us by private or governmental entities, our
    business, results of operations and financial condition could be
    adversely
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affected. Adverse publicity that may be associated with
    regulatory or judicial proceedings or investigations could
    negatively impact our relationships with retail distributors,
    network acceptance members and card processors and decrease
    acceptance and use of, and loyalty to, our products and related
    services.
We
    must adequately protect our brand and the intellectual property
    rights related to our products and services and avoid infringing
    on the proprietary rights of others.
The Green Dot brand is important to our business, and we utilize
    trademark registrations and other tools to protect it. Our
    business would be harmed if we were unable to protect our brand
    against infringement and its value was to decrease as a result.
We rely on a combination of trademark and copyright laws, trade
    secret protection and confidentiality and license agreements to
    protect the intellectual property rights related to our products
    and services. We may unknowingly violate the intellectual
    property or other proprietary rights of others and, thus, may be
    subject to claims by third parties. If so, we may be required to
    devote significant time and resources to defend against these
    claims or to protect and enforce our own rights. Some of our
    intellectual property rights may not be protected by
    intellectual property laws, particularly in foreign
    jurisdictions. The loss of our intellectual property or the
    inability to secure or enforce our intellectual property rights
    or defend successfully against an infringement action could harm
    our business, results of operations, financial condition and
    prospects.
We are exposed
    to losses from cardholder account overdrafts.
Our cardholders can incur charges in excess of the funds
    available in their accounts, and we may become liable for these
    overdrafts. While we decline authorization attempts for amounts
    that exceed the available balance on the card, the application
    of card association rules, the timing of the settlement of
    transactions and the assessment of our monthly maintenance fee,
    among other things, can result in overdrawn accounts.
Maintenance fee assessment overdrafts accounted for
    approximately 90% of our aggregate overdrawn account balances in
    fiscal 2009. Maintenance fee assessment overdrafts occur as a
    result of our charging a cardholder, pursuant to our terms and
    conditions, our monthly maintenance fee at a time when he or she
    does not have sufficient funds in his or her account. See
    "Management's Discussion and Analysis of Financial
    Condition and Results of Operations – Critical
    Accounting Policies and Estimates – Reserve for
    Uncollectible Overdrawn Accounts."
Our remaining overdraft exposure arises primarily from
    late-posting. A late-post occurs when a merchant posts a
    transaction within a card association-permitted timeframe but
    subsequent to our release of the authorization for that
    transaction, as permitted by card association rules. Under card
    association rules, we may be liable for the amount of the
    transaction even if the cardholder has made additional purchases
    in the intervening period and funds are no longer available on
    the card at the time the transaction is posted.
Overdrawn account balances are funded on our behalf by one of
    the banks that issue our cards. We are responsible to our
    issuing banks for any losses associated with these overdrafts.
    Overdrawn account balances are therefore deemed to be our
    receivables due from cardholders. We maintain reserves to cover
    the risk that we may not recover these receivables due from our
    cardholders, but our exposure may increase above these reserves
    for a variety of reasons, including our failure to predict the
    actual recovery rate accurately. To the extent we incur losses
    from overdrafts above our reserves or we determine that it is
    necessary to increase our reserves substantially, our business,
    results of operations and financial condition could be
    materially and adversely affected.
We
    face settlement risks from our retail distributors, which may
    increase during an economic downturn.
The vast majority of our business is conducted through retail
    distributors that sell our products and services to consumers at
    their store locations. Our retail distributors collect funds
    from the consumers who purchase our products and services and
    then must remit these funds directly to
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accounts established on behalf of these consumers at the banks
    that issue our cards. The remittance of these funds by the
    retail distributor takes on average three business days. If a
    retail distributor becomes insolvent, files for bankruptcy,
    commits fraud or otherwise fails to remit proceeds to the
    issuing bank from the sales of our products and services, we are
    liable for any amounts owed to the issuing bank. As of
    October 31, 2009, we had assets subject to settlement risk
    of $52.8 million. Given the unprecedented volatility in
    global financial markets and the frequent occurrence of negative
    economic events, the approaches we use to assess and monitor the
    creditworthiness of our retail distributors may be inadequate,
    and we may be unable to detect and take steps to mitigate an
    increased credit risk in a timely manner.
A further economic downturn could result in settlement losses,
    whether or not directly related to our business. We are not
    insured against these risks. Significant settlement losses could
    have a material adverse effect on our business, results of
    operations and financial condition.
Future
    acquisitions or investments could disrupt our business and harm
    our financial condition.
We are in the process of acquiring a bank holding company and
    its subsidiary commercial bank, although we cannot guarantee
    when, if ever, this acquisition will be completed. In addition,
    we may pursue other acquisitions that we believe will help us to
    achieve our strategic objectives. The process of integrating an
    acquired business, product or technology can create unforeseen
    operating difficulties, expenditures and other challenges such
    as:
•
increased regulatory and compliance requirements, including, if
    we complete our pending bank acquisition, capital requirements
    applicable to us and our acquired subsidiary bank;
•
implementation or remediation of controls, procedures and
    policies at the acquired company;
•
diversion of management time and focus from operation of our
    then-existing business to acquisition integration challenges;
•
coordination of product, sales, marketing and program and
    systems management functions;
•
transition of the acquired company's users and customers
    onto our systems;
•
retention of employees from the acquired company;
•
integrating employees from the acquired company into our
    organization;
•
integration of the acquired company's accounting,
    information management, human resource and other administrative
    systems and operations generally with ours;
•
liability for activities of the acquired company prior to the
    acquisition, including violations of law, commercial disputes,
    and tax and other known and unknown liabilities; and
•
litigation or other claims in connection with the acquired
    company, including claims brought by terminated employees,
    customers, former stockholders or other third parties.
If we are unable to address these difficulties and challenges or
    other problems encountered in connection with our bank
    acquisition or any future acquisition or investment, we might
    not realize the anticipated benefits of that acquisition or
    investment, we might incur unanticipated liabilities or we might
    otherwise suffer harm to our business generally.
To the extent we pay the consideration for any future
    acquisitions or investments in cash, it would reduce the amount
    of cash available to us for other purposes. Future acquisitions
    or investments could also result in dilutive issuances of our
    equity securities, the incurrence of debt, contingent
    liabilities, amortization expenses, or impairment charges
    against goodwill on our balance sheet, any of which could harm
    our financial condition and negatively impact our stockholders.
Economic,
    political and other conditions may adversely affect trends in
    consumer spending.
The electronic payments industry, including the prepaid
    financial services segment within that industry, depends heavily
    upon the overall level of consumer spending. Sustained
    deterioration in
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general economic conditions in the United States might reduce
    the number of our cards that are purchased or reloaded, the
    number of transactions involving our cards and the use of our
    network and related services. If general economic conditions
    result in a sustained reduction in the use of our products and
    related services, either as a result of a general reduction in
    consumer spending or as a result of a disproportionate reduction
    in the use of card-based payment systems, our business, results
    of operations and financial condition would be materially harmed.
Our
    business is dependent on the efficient and uninterrupted
    operation of computer network systems and data
    centers.
Our ability to provide reliable service to cardholders and other
    network participants depends on the efficient and uninterrupted
    operation of our computer network systems and data centers as
    well as those of our retail distributors, network acceptance
    members and third-party processors. Our business involves
    movement of large sums of money, processing of large numbers of
    transactions and management of the data necessary to do both.
    Our success depends upon the efficient and error-free handling
    of the money that is collected by our retail distributors and
    remitted to the banks that issue our cards or network acceptance
    members. We rely on the ability of our employees, systems and
    processes and those of the banks that issue our cards, our
    retail distributors, our network acceptance members and
    third-party processors to process and facilitate these
    transactions in an efficient, uninterrupted and error-free
    manner.
In the event of a breakdown, a catastrophic event (such as fire,
    natural disaster, power loss, telecommunications failure or
    physical break-in), a security breach or malicious attack, an
    improper operation or any other event impacting our systems or
    processes, or those of our vendors, or an improper action by our
    employees, agents or third-party vendors, we could suffer
    financial loss, loss of customers, regulatory sanctions and
    damage to our reputation. The measures we have taken, including
    the implementation of disaster recovery plans and redundant
    computer systems, may not be successful, and we may experience
    other problems unrelated to system failures. We may also
    experience software defects, development delays and installation
    difficulties, any of which could harm our business and
    reputation and expose us to potential liability and increased
    operating expenses. Some of our contracts with retail
    distributors, including our contract with Walmart, contain
    service level standards pertaining to the operation of our
    systems, and provide the retail distributor with the right to
    collect damages and potentially terminate its contract with us
    for system downtime exceeding stated limits. If we face system
    interruptions or failures, our business interruption insurance
    may not be adequate to cover the losses or damages that we incur.
We
    must be able to operate and scale our technology effectively to
    match our business growth.
Our ability to continue to provide our products and services to
    a growing number of network participants, as well as to enhance
    our existing products and services and offer new products and
    services, is dependent on our information technology systems. If
    we are unable to manage the technology associated with our
    business effectively, we could experience increased costs,
    reductions in system availability and losses of our network
    participants. Any failure of our systems in scalability and
    functionality would adversely impact our business, financial
    condition and results of operations.
If
    we are unable to keep pace with the rapid technological
    developments in our industry and the larger electronic payments
    industry necessary to continue providing our network acceptance
    members and cardholders with new and innovative products and
    services, the use of our cards and other products and services
    could decline.
The electronic payments industry is subject to rapid and
    significant technological changes, including continuing
    advancements in the areas of radio frequency and proximity
    payment devices (such as contactless cards),
e-commerce
and mobile commerce, among others. We cannot predict the effect
    of technological changes on our business. We rely in part on
    third parties, including some of our competitors and potential
    competitors, for the development of, and access to, new
    technologies. We expect that new services and technologies
    applicable to our industry will continue to emerge, and
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these new services and technologies may be superior to, or
    render obsolete, the technologies we currently utilize in our
    products and services. Additionally, we may make future
    investments in, or enter into strategic alliances to develop,
    new technologies and services or to implement infrastructure
    change to further our strategic objectives, strengthen our
    existing businesses and remain competitive. However, our ability
    to transition to new services and technologies that we develop
    may be inhibited by a lack of industry-wide standards, by
    resistance from our retail distributors, network acceptance
    members, third-party processors or consumers to these changes,
    or by the intellectual property rights of third parties. Our
    future success will depend, in part, on our ability to develop
    new technologies and adapt to technological changes and evolving
    industry standards. These initiatives are inherently risky, and
    they may not be successful or may have an adverse effect on our
    business, financial condition and results of operations.
As
    a public company, we will be subject to additional financial and
    other reporting and corporate governance requirements that may
    be difficult for us to satisfy, will raise our costs and may
    divert resources and management attention from operating our
    business.
We have historically operated as a private company. After this
    offering, we will need to file with the Securities and Exchange
    Commission, or SEC, annual and quarterly information and other
    reports that are specified in the Securities Exchange Act of
    1934, as amended, or the Exchange Act, and SEC regulations.
    Thus, we will need to ensure that we have the ability to prepare
    on a timely basis financial statements that comply with SEC
    reporting requirements. We will also become subject to other
    reporting and corporate governance requirements, including the
    listing standards of the New York Stock Exchange, or the NYSE,
    and the provisions of the Sarbanes-Oxley Act of 2002, or the
    Sarbanes-Oxley Act, and the regulations promulgated thereunder,
    which will impose significant new compliance obligations upon
    us. As a public company, we will be required, among other
    things, to:
•
prepare and distribute periodic reports and other stockholder
    communications in compliance with our obligations under the
    federal securities laws and the NYSE rules;
•
define and expand the roles and the duties of our board of
    directors and its committees;
•
institute more comprehensive compliance, investor relations and
    internal audit functions;
•
evaluate and maintain our system of internal control over
    financial reporting, and report on management's assessment
    thereof, in compliance with the requirements of Section 404 of
    the Sarbanes-Oxley Act and related rules and regulations of the
    SEC and the Public Company Accounting Oversight Board; and
•
involve and retain outside legal counsel and accountants in
    connection with the activities listed above.
The adequacy of our internal control over financial reporting
    must be assessed by management for each year commencing with the
    year ending December 31, 2011. We do not currently have
    comprehensive documentation of our internal control over
    financial reporting, nor do we document our compliance with
    these controls on a periodic basis in accordance with
    Section 404 of the Sarbanes-Oxley Act. Furthermore, we have
    not tested our internal control over financial reporting in
    accordance with Section 404 and, due to our lack of
    documentation, this testing would not be possible at this time.
    If we were unable to implement the controls and procedures
    required by Section 404 in a timely manner or otherwise to
    comply with Section 404, management might not be able to
    certify, and our independent registered public accounting firm
    might not be able to report on, the adequacy of our internal
    control over financial reporting. If we are unable to maintain
    adequate internal control over financial reporting, we might be
    unable to report our financial information on a timely basis and
    might suffer adverse regulatory consequences or violate NYSE
    listing standards. There could also be a negative reaction in
    the financial markets due to a loss of investor confidence in us
    and the reliability of our financial statements.
The changes necessitated by becoming a public company will
    require a significant commitment of additional resources and
    management oversight that will increase our costs and might
    place a strain on our systems and resources. As a result, our
    management's attention might be diverted from other
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business concerns. In addition, we might not be successful in
    implementing and maintaining controls and procedures that comply
    with these requirements. For example, in connection with the
    most recent audit of our consolidated financial statements, we
    identified a significant deficiency in our internal control over
    financial reporting relating to our financial statement closing
    process and the need to enhance our financial reporting
    resources and infrastructure. If we fail to maintain an
    effective internal control environment or to comply with the
    numerous legal and regulatory requirements imposed on public
    companies, we could make material errors in, and be required to
    restate, our financial statements. Any such restatement could
    result in a loss of public confidence in the reliability of our
    financial statements and sanctions imposed on us by the SEC.
Our
    future success depends on our ability to attract, integrate,
    retain and incentivize key personnel.
Our future success will depend, to a significant extent, on our
    ability to attract, integrate, retain and incentivize key
    personnel, namely our management team and experienced sales,
    marketing and program and systems management personnel. We must
    retain and motivate existing personnel, and we must also
    attract, assimilate and motivate additional highly-qualified
    employees. We may experience difficulty assimilating our
    newly-hired personnel, which may adversely affect our business.
    Competition for qualified management, sales, marketing and
    program and systems management personnel can be intense.
    Competitors have in the past and may in the future attempt to
    recruit our top management and employees. If we fail to attract,
    integrate, retain and incentivize key personnel, our ability to
    manage and grow our business could be harmed.
We
    might require additional capital to support our business in the
    future, and this capital might not be available on acceptable
    terms, or at all.
If our unrestricted cash and cash equivalents balances and any
    cash generated from operations and from this offering are not
    sufficient to meet our future cash requirements, we will need to
    access additional capital to fund our operations. We may also
    need to raise additional capital to take advantage of new
    business or acquisition opportunities. We may seek to raise
    capital by, among other things:
•
issuing additional shares of our Class A common stock or
    other equity securities;
•
issuing debt securities; or
•
borrowing funds under a credit facility.
We may not be able to raise needed cash in a timely basis on
    terms acceptable to us or at all. Financings, if available, may
    be on terms that are dilutive or potentially dilutive to our
    stockholders, and the prices at which new investors might be
    willing to purchase our Class A common stock could be lower
    than the initial public offering price. The holders of new
    securities may also receive rights, preferences or privileges
    that are senior to those of existing holders of our Class A
    common stock. In addition, if we were to raise cash through a
    debt financing, the terms of the financing might impose
    additional conditions or restrictions on our operations that
    could adversely affect our business. If we require new sources
    of financing but they are insufficient or unavailable, we would
    be required to modify our operating plans to take into account
    the limitations of available funding, which would harm our
    ability to maintain or grow our business.
The
    occurrence of catastrophic events could damage our facilities or
    the facilities of third parties on which we depend, which could
    force us to curtail our operations.
We and some of the third-party service providers on which we
    depend for various support functions, such as customer service
    and card processing, are vulnerable to damage from catastrophic
    events, such as power loss, natural disasters, terrorism and
    similar unforeseen events beyond our control. Our principal
    offices, for example, are situated in the foothills of southern
    California near known earthquake fault zones and areas of
    elevated wild fire danger. If any catastrophic event were to
    occur, our ability to operate our business could be seriously
    impaired, as we do not maintain redundant systems for critical
    business functions, such as finance and accounting. In addition,
    we
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might not have adequate insurance to cover our losses resulting
    from catastrophic events or other significant business
    interruptions. Any significant losses that are not recoverable
    under our insurance policies, as well as the damage to, or
    interruption of, our infrastructure and processes, could
    seriously impair our business and financial condition.
Risks Related to
    Our Class A Common Stock and This Offering
We
    cannot assure you that a market will develop for our
    Class A common stock or what the market price of our
    Class A common stock will be.
No public trading market currently exists for our Class A
    common stock, and one may not develop or be sustained after this
    offering to provide you with adequate liquidity. If a market
    does not develop or is not sustained, it may be difficult for
    you to sell your shares of Class A common stock at an
    attractive price or at all. We cannot predict the prices at
    which our Class A common stock will trade. The initial
    public offering price for our Class A common stock will be
    determined through negotiations among us, the selling
    stockholders and representatives of the underwriters and may not
    bear any relationship to the market price at which our
    Class A common stock will trade in the public market
    following this offering or to any other established criteria of
    the value of our business. A significant portion of our shares
    may not trade following the offering because the selling
    stockholders will continue to own
    approximately     % of our shares. If
    these shares do not trade, there may be limited liquidity for
    shares of our Class A Common Stock following this offering.
The
    price of our Class A common stock may be volatile and you
    could lose all or part of your investment.
In the recent past, stocks generally, and financial services
    company stocks in particular, have experienced high levels of
    volatility. The trading price of our Class A common stock
    following this offering may fluctuate substantially and may be
    higher or lower than the initial public offering price. The
    trading price of our Class A common stock following this
    offering will depend on a number of factors, including those
    described in this "Risk Factors" section, many of
    which are beyond our control and may not be related to our
    operating performance. These fluctuations could cause you to
    lose all or part of your investment in our Class A common
    stock as you may be unable to sell your shares at or above the
    price you paid in this offering. Factors that could cause
    fluctuations in the trading price of our Class A common
    stock include the following:
•
price and volume fluctuations in the overall stock market from
    time to time;
•
significant volatility in the market prices and trading volumes
    of financial services company stocks;
•
actual or anticipated changes in our results of operations or
    fluctuations in our operating results;
•
actual or anticipated changes in the expectations or
    recommendations of investors or any securities analysts who
    follow our Class A common stock;
•
actual or anticipated developments in our business or our
    competitors' businesses or the competitive landscape
    generally;
•
the public's reaction to our press releases, other public
    announcements and filings with the SEC;
•
litigation involving us, our industry or both or investigations
    by regulators into our operations or those of our competitors;
•
new laws or regulations or new interpretations of existing laws
    or regulations applicable to our business;
•
changes in accounting standards, policies, guidelines,
    interpretations or principles;
•
general economic conditions; and
•
sales of shares of our Class A common stock by us or our
    stockholders.
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In the past, many companies that have experienced volatility in
    the market price of their stock have become subject to
    securities class action litigation. We may be the target of this
    type of litigation in the future. Securities litigation against
    us could result in substantial costs and divert our
    management's attention from other business concerns, which
    could seriously harm our business.
Our
    operating results may fluctuate in the future, which could cause
    our stock price to decline.
Our quarterly and annual results of operations may fluctuate in
    the future as a result of a variety of factors, many of which
    are outside of our control. If our results of operations fall
    below the expectations of investors or any securities analysts
    who follow our Class A common stock, the trading price of
    our Class A common stock could decline substantially.
    Fluctuations in our quarterly or annual results of operations
    may be due to a number of factors, including, but not limited to:
•
the timing and volume of purchases, use and reloads of our
    prepaid cards and related products and services;
•
the timing and success of new product or service introductions
    by us or our competitors;
•
seasonality in the purchase or use of our products and services;
•
fluctuations in customer retention rates;
•
changes in the mix of products and services that we sell;
•
changes in the mix of retail distributors through which we sell
    our products and services;
•
the timing of commencement, renegotiation or termination of
    relationships with significant retail distributors;
•
the timing of commencement, renegotiation or termination of
    relationships with significant network acceptance members;
•
changes in our or our competitors' pricing policies or
    sales terms;
•
the timing of commencement and termination of major advertising
    campaigns;
•
the timing of costs related to the development or acquisition of
    complementary businesses;
•
the timing of costs of any major litigation to which we are a
    party;
•
the amount and timing of operating costs related to the
    maintenance and expansion of our business, operations and
    infrastructure;
•
our ability to control costs, including third-party service
    provider costs;
•
volatility in the trading price of our Class A common
    stock, which may lead to higher stock-based compensation
    expenses; and
•
changes in the regulatory environment affecting the banking or
    electronic payments industries generally or prepaid financial
    services specifically.
Concentration
    of ownership among our existing directors, executive officers
    and principal stockholders may prevent new investors from
    influencing significant corporate decisions.
Our Class B common stock has ten votes per share and our
    Class A common stock, which is the stock we are selling in
    this offering, has one vote per share. Assuming the
    underwriters' option to purchase additional shares is not
    exercised, based upon beneficial ownership as of
    October 31, 2009, our current directors, executive
    officers, holders of more than 5% of our common stock and their
    respective affiliates will, in the aggregate, beneficially own
    approximately     % of our outstanding
    Class B common stock, representing
    approximately     % of the voting power
    of our outstanding capital stock. As a result, these
    stockholders will be able to exercise a controlling influence
    over matters requiring stockholder approval, including the
    election of directors and approval of significant corporate
    transactions, and will have significant influence over our
    management and policies for the foreseeable future. Some of
    these persons or entities may have interests that are different
    from yours. For example, these stockholders may support
    proposals and actions with which you may disagree or
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which are not in your interests. The concentration of ownership
    could delay or prevent a change in control of our company or
    otherwise discourage a potential acquirer from attempting to
    obtain control of our company, which in turn could reduce the
    price of our Class A common stock. In addition, these
    stockholders, some of which have representatives sitting on our
    board of directors, could use their voting control to maintain
    our existing management and directors in office, delay or
    prevent changes of control of our company, or support or reject
    other management and board of director proposals that are
    subject to stockholder approval, such as amendments to our
    employee stock plans and approvals of significant financing
    transactions. See "Description of Capital Stock –
    Anti-Takeover Provisions."
Our
    stock price could decline due to the large number of outstanding
    shares of our common stock eligible for future
    sale.
Upon completion of this offering, we will have
    outstanding           shares
    of our common stock, assuming no exercise of outstanding options
    after          ,
    2010. The shares sold in this offering will be immediately
    tradable without restriction. Of the remaining shares:
•
shares
    will be eligible for sale immediately upon completion of this
    offering;
•
shares
    will be eligible for sale beginning 90 days after the date
    of this prospectus; and
•
shares
    will be eligible for sale upon the expiration of
lock-up
and/or
market standoff agreements, subject in some cases to the volume
    and other restrictions of Rule 144 and Rule 701 promulgated
    under the Securities Act of 1933, as amended, or the Securities
    Act.
The lock-up and market standoff agreements expire 180 days
    after the date of this prospectus, except that with respect to
    the lock-up agreements the
180-day
period may be extended for up to 34 additional days under
    specified circumstances where we announce or pre-announce
    earnings or a material event occurs within 17 days prior
    to, or 16 days after, the termination of the
180-day
period. The representatives of the underwriters may, in their
    sole discretion and at any time without notice, release all or
    any portion of the securities subject to
lock-up
agreements.
Immediately following this offering, the holders of
    approximately           shares
    of our Class B common stock will be entitled to rights with
    respect to the registration of these shares under the Securities
    Act. See "Description of Capital Stock –
    Registration Rights." If we register the resale of their
    shares following the expiration of the
lock-up
and
    market standoff agreements, these stockholders could sell those
    shares in the public market without being subject to the volume
    and other restrictions of Rules 144 and 701.
After the closing of this offering, we intend to register
    approximately           shares
    of our Class A and Class B common stock that have been
    issued or reserved for future issuance under our stock incentive
    plans. Of these
    shares,           shares
    will be eligible for sale upon the exercise of vested options
    after the expiration of the
lock-up
and
    market standoff agreements. In addition, the shares subject to
    an outstanding warrant to purchase 283,786 shares of our
    Class B common stock could be eligible for sale immediately
    upon completion of this offering, depending upon the manner in
    which it is exercised. Assuming our other outstanding warrant
    vests, up to an additional 4,283,456 shares will be
    eligible for sale after the expiration of
lock-up
and/or
standoff agreements.
Sales of substantial amounts of our Class A common stock in
    the public market following this offering, or even the
    perception that these sales could occur, could cause the trading
    price of our Class A common stock to decline. These sales
    could also make it more difficult for us to sell equity or
    equity-related securities in the future at a time and price that
    we deem appropriate.
Because
    the initial public offering price of our Class A common
    stock will be substantially higher than the pro forma as
    adjusted net tangible book value per share of our outstanding
    Class A and Class B common stock following this
    offering, new investors will incur immediate and substantial
    dilution.
The initial public offering price will be substantially higher
    than the pro forma as adjusted net tangible book value per share
    of our Class A and Class B common stock immediately
    following this offering based on the total value of our tangible
    assets less our total liabilities. Therefore, if you
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purchase shares of our Class A common stock in this
    offering, you will experience immediate dilution of
    approximately $      per share, the
    difference between the price per share you pay for our
    Class A common stock and its pro forma as adjusted net
    tangible book value per share following the offering. See
    "Dilution." Furthermore, investors purchasing shares
    of our Class A common stock in this offering will only own
    approximately     % of our outstanding
    shares of Class A and Class B (and
    have     % of the combined voting power
    of the outstanding shares of our Class A and Class B
    common stock) after the offering even though they will have
    contributed     % of the total
    consideration received by us in connection with our sale of
    shares of our capital stock. To the extent outstanding options
    to purchase our Class B common stock are exercised,
    investors purchasing our Class A common stock in this
    offering will experience further dilution.
We
    will have broad discretion in the use of the net proceeds from
    this offering.
We cannot specify with certainty the particular uses of the net
    proceeds that we will receive from this offering. Our management
    will have broad discretion in the application of these proceeds,
    including for any of the purposes described in the section
    entitled "Use of Proceeds." Accordingly, you will have
    to rely upon the judgment of our management with respect to the
    use of the proceeds, with only limited information concerning
    management's specific intentions. Our management may spend
    a portion or all of the net proceeds from this offering in ways
    that our stockholders may not desire or that may not yield a
    favorable return. The failure by our management to apply these
    funds effectively could harm our business. Pending their use, we
    may invest the net proceeds from this offering in a manner that
    does not produce income or that loses value. In addition, a
    majority of the offering is comprised of shares of our
    Class A common stock being sold by the selling
    stockholders, and we will not receive any proceeds from the sale
    of those shares.
Our
    charter documents and Delaware law could discourage, delay or
    prevent a takeover that stockholders consider favorable and
    could also reduce the market price of our stock.
Our restated certificate of incorporation and our restated
    bylaws contain provisions that could delay or prevent a change
    in control of our company. These provisions could also make it
    more difficult for stockholders to nominate directors for
    election to our board of directors and take other corporate
    actions. These provisions, among other things:
•
provide our Class B common stock with disproportionate
    voting rights (see "– Concentration of ownership
    among our existing directors, executive officers and principal
    stockholders may prevent new investors from influencing
    significant corporate decisions" above);
•
provide for non-cumulative voting in the election of directors;
•
provide for a classified board of directors;
•
authorize our board of directors, without stockholder approval,
    to issue preferred stock with terms determined by our board of
    directors and to issue additional shares of our Class A and
    Class B common stock;
•
limit the voting power a holder, or group of affiliated holders,
    of more than 25% of our common stock to 14.9%;
•
provide that only our board of directors may set the number of
    directors constituting our board of directors or fill vacant
    directorships;
•
prohibit stockholder action by written consent and limit who may
    call a special meeting of stockholders; and
•
require advance notification of stockholder nominations for
    election to our board of directors and of stockholder proposals.
These and other provisions in our restated certificate of
    incorporation and our restated bylaws, as well as provisions
    under Delaware law, could discourage potential takeover
    attempts, reduce the price that investors might be willing to
    pay in the future for shares of our Class A common stock
    and result in the trading price of our Class A common stock
    being lower than it otherwise would be. See
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"Description of Capital Stock – Preferred
    Stock" and "Description of Capital Stock –
    Anti-Takeover Provisions."
If
    securities analysts do not publish research or reports about our
    business or if they publish negative evaluations of our
    Class A common stock, the trading price of our Class A
    common stock could decline.
We expect that the trading price for our Class A common
    stock will be affected by any research or reports that
    securities analysts publish about us or our business. If one or
    more of the analysts who may elect to cover us or our business
    downgrade their evaluations of our Class A common stock,
    the price of our Class A common stock would likely decline.
    If one or more of these analysts cease coverage of our company,
    we could lose visibility in the market for our Class A
    common stock, which in turn could cause our stock price to
    decline.
We
    do not intend to pay dividends for the foreseeable
    future.
We have never declared or paid any cash dividends on our capital
    stock. The revolving line of credit we maintain with Columbus
    Bank and Trust Company prohibits the payment of any
    dividends without its prior written consent. In addition, the
    capital requirements imposed under the BHC Act, as well as other
    federal laws applicable to banks and bank holding companies,
    would limit our ability to pay dividends. We intend to retain
    any earnings to finance the operation and expansion of our
    business, and we do not anticipate paying any cash dividends in
    the foreseeable future. As a result, you will likely receive a
    return on your investment in our Class A common stock only
    if the market price of our Class A common stock increases.
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SPECIAL NOTE
    REGARDING FORWARD-LOOKING STATEMENTS
In addition to historical information, this prospectus contains
    forward-looking statements. We may, in some cases, use words,
    such as "project," "believe,"
    "anticipate," "plan," "expect,"
    "estimate," "intend," "continue,"
    "should," "would," "could,"
    "potentially," "will" or "may," or
    other similar words and expressions that convey uncertainty
    about future events or outcomes to identify these
    forward-looking statements. Forward-looking statements in this
    prospectus include, among other things, statements about:
•
our expectations regarding our revenues, expenses, effective tax
    rates and other results of operations;
•
our anticipated capital expenditures and our estimates regarding
    our capital requirements;
•
our liquidity and working capital requirements;
•
our need to obtain additional funding and our ability to obtain
    future funding on acceptable terms;
•
our spending of the net proceeds from this offering;
•
the impact of seasonality on our business;
•
the growth rates of the markets in which we compete;
•
our anticipated strategies for growth and sources of new
    revenues;
•
maintaining and expanding our customer base and our
    relationships with retail distributors and network acceptance
    members;
•
our ability to anticipate market needs and develop new and
    enhanced products and services to meet those needs;
•
our current and future products, applications and functionality
    and plans to promote them;
•
anticipated trends and challenges in our business and in the
    markets in which we operate;
•
the evolution of technology affecting our products, services and
    markets;
•
our ability to retain and hire necessary employees and to staff
    our operations appropriately;
•
management compensation and the methodology for its
    determination;
•
our ability to find future acquisition opportunities on
    favorable terms or at all and to manage any acquisitions;
•
our ability to complete our pending bank acquisition and our
    expectations regarding the benefits of doing so;
•
our efforts to make our business more vertically integrated;
•
our ability to compete in our industry and innovation by our
    competitors;
•
our ability to stay abreast of new or modified laws and
    regulations that currently apply or become applicable to our
    business;
•
estimates and estimate methodologies used in preparing our
    consolidated financial statements and determining option
    exercise prices; and
•
the future trading prices of our Class A Common Stock and
    the impact of securities analysts' reports on these prices.
The outcome of the events described in these forward-looking
    statements is subject to known and unknown risks, uncertainties
    and other factors that could cause actual results to differ
    materially from the results anticipated by these forward-looking
    statements. These risks, uncertainties and factors include those
    we discuss in this prospectus under the caption "Risk
    Factors." You should read these risk factors and the other
    cautionary statements made in this prospectus as being
    applicable to all related forward-looking statements wherever
    they appear in this prospectus.
The forward-looking statements made in this prospectus relate
    only to events as of the date on which the statements are made.
    We undertake no obligation to update publicly any
    forward-looking statements, whether as a result of new
    information, future events or otherwise, except as required by
    law.
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INDUSTRY AND
    MARKET DATA
This prospectus also contains estimates and other statistical
    data, including those relating to market size, transaction
    volumes, demographic groups and growth rates of the markets in
    which we participate, that we have obtained from industry
    publications and reports. These industry publications and
    reports generally indicate that they have obtained their
    information from sources believed to be reliable, but do not
    guarantee the accuracy and completeness of their information.
    This information involves a number of assumptions and
    limitations, and you are cautioned not to give undue weight to
    these estimates, as there is no assurance that any of them will
    be reached. Although we have not independently verified the
    accuracy or completeness of the data contained in these industry
    publications and reports, based on our industry experience we
    believe that the publications and reports are reliable and that
    the conclusions contained in the publications and reports are
    reasonable.
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USE OF
    PROCEEDS
We estimate that we will receive net proceeds from the sale of
    the           shares
    of our Class A common stock that we are selling in this
    offering of approximately
    $      million, based on an
    assumed initial public offering price of
    $      per share, the midpoint of the
    price range set forth on the cover page of this prospectus,
    after deducting the estimated underwriting discounts and
    commissions and estimated offering expenses. If the
    underwriters' option to purchase additional shares in this
    offering is exercised in full, based on the same assumptions, we
    estimate that our net proceeds will be approximately
    $      million. Each $1.00
    increase or decrease in the assumed initial public offering
    price would increase or decrease, as applicable, the net
    proceeds to us by approximately
    $      million, assuming the
    number of shares offered by us, as set forth on the cover page
    of this prospectus, remains the same and after deducting the
    estimated underwriting discounts and commissions. We will not
    receive any proceeds from the sale of shares of our Class A
    common stock by the selling stockholders.
The principal purposes of our selling shares in this offering
    are to obtain additional capital, to create a public market for
    our Class A common stock and to facilitate our future
    access to the public equity markets. We expect to use the net
    proceeds of this offering for general corporate purposes,
    including working capital and potential capital expenditures. We
    do not have more specific plans for the net proceeds from this
    offering. We may also use a portion of the net proceeds for the
    acquisition of, or investment in, complementary businesses,
    products, services, technologies or assets.
We have not yet determined our anticipated expenditures and
    therefore cannot estimate the amounts to be used for each of the
    purposes discussed above. The amounts and timing of any
    expenditures will vary depending on the amount of cash generated
    by our operations, competitive and technological developments
    and the rate of growth, if any, of our business. Accordingly,
    our management will have significant flexibility in applying the
    net proceeds from this offering, and investors will be relying
    on the judgment of our management regarding the application of
    these net proceeds. Pending the uses described above, we intend
    to invest the net proceeds from this offering in short-term,
    interest-bearing obligations, investment-grade instruments,
    certificates of deposit or direct or guaranteed obligations of
    the United States government. The goal with respect to the
    investment of these net proceeds will be capital preservation
    and liquidity so that these funds are readily available to fund
    our operations.
DIVIDEND
    POLICY
We have never declared or paid any cash dividends on our capital
    stock, and we do not currently intend to pay any cash dividends
    on our Class A common stock in the foreseeable future. The
    revolving line of credit we maintain with Columbus Bank and
    Trust Company prohibits the payment of any dividends
    without its prior written consent. In addition, should we
    complete our proposed acquisition of a bank holding company and
    its subsidiary commercial bank, as a bank holding company, the
    Federal Reserve Board's risk-based and leverage capital
    requirements, as well as other federal laws applicable to banks
    and bank holding companies, could limit our ability to pay
    dividends. We expect to retain future earnings, if any, to fund
    the development and growth of our business. Any future
    determination to pay dividends on our Class A common stock,
    if permissible, will be at the discretion of our board of
    directors and will depend upon, among other factors, our
    financial condition, operating results, current and anticipated
    cash needs, plans for expansion and other factors that our board
    of directors may deem relevant.
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CAPITALIZATION
The following table sets forth our unaudited consolidated cash,
    cash equivalents and restricted cash and capitalization as of
    October 31, 2009 on:
•
an actual basis;
•
a pro forma basis to give effect to (i) the conversion of
    all shares of our common stock outstanding as of
    October 31, 2009 into 12,075,938 shares of our
    Class B common stock and (ii) the automatic conversion
    of all outstanding shares of our preferred stock into
    24,941,521 shares of our Class B common stock
    immediately prior to the completion of this offering; and
•
a pro forma as adjusted basis to give further effect to
    (i) the conversion by the selling stockholders
    of           shares
    of our Class B common stock into a like number of shares of
    our Class A common stock immediately prior to the
    completion of this offering and (ii) the sale by us of
    the           shares
    of our Class A common stock offered by us in this
    prospectus at an assumed initial public offering price of
    $      per share, after deducting the
    estimated underwriting discounts and commissions and estimated
    offering expenses, and the sale by the selling stockholders of
    the           shares
    of our Class A common stock offered by them in this
    prospectus.
The information below is illustrative only, and our
    capitalization following the completion of this offering will be
    adjusted based on the actual initial public offering price and
    other terms of the offering determined at the pricing of this
    offering. You should read this table together with our
    consolidated financial statements and related notes and
    "Management's Discussion and Analysis of Financial
    Condition and Results of Operations" included elsewhere in
    this prospectus.
October 31, 2009
Pro Forma
Actual
Pro Forma
As Adjusted(1)
(In thousands)
Cash, cash equivalents and restricted cash(2)
$
58,623
$
58,623
$
Long-term debt
$
—
$
—
$
—
Stockholders' equity:
Convertible preferred stock, $0.001 par value:
    25,554,000 shares authorized, 24,941,521 shares issued
    and
    outstanding;           shares
    authorized, no shares issued or outstanding, pro forma or pro
    forma as adjusted
31,322
—
—
Common stock, $0.001 par value: 50,000,000 shares
    authorized, 12,075,938 shares issued and outstanding,
    actual; no shares authorized, issued or outstanding, pro forma
    or pro forma as adjusted
12
—
—
Class B common stock, $0.001 par value: ten votes per
    share, no shares authorized, issued or outstanding,
    actual;           shares
    authorized, 37,017,459 shares issued and outstanding, pro
    forma;           shares
    authorized,           shares
    issued and outstanding, pro forma as adjusted
—
37
Class A common stock, $0.001 par value: one vote per
    share, no shares authorized, issued or outstanding,
    actual;           shares
    authorized, no shares issued or outstanding, pro forma; shares
    authorized,           shares
    issued and outstanding, pro forma as adjusted
—
—
Additional paid-in capital
3,822
35,119
Related party notes receivable(3)
(5,869
)
(5,869
)
(5,869
)
Retained earnings
24,167
24,167
24,167
Total stockholders' equity
53,454
53,454
Total capitalization
$
53,454
$
53,454
$
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(1)
Each $1.00 increase or decrease in the assumed initial public
    offering price of $      per share
    would increase or decrease, respectively, our cash, cash
    equivalents and restricted cash, additional paid-in capital,
    total stockholders' equity and total capitalization by
    approximately $      million,
    assuming the number of shares offered by us, as set forth on the
    cover page of this prospectus, remains the same and after
    deducting the estimated underwriting discounts and commissions.
    If the underwriters' option to purchase additional shares
    of our Class A common stock in this offering is exercised
    in full, the amount of pro forma as adjusted cash, cash
    equivalents and restricted cash, additional paid-in capital,
    total stockholders' equity and total capitalization would
    increase by approximately $      and we
    would have     shares of Class A
    common stock issued and outstanding
    and           shares
    of Class B common stock issued and outstanding.
(2)
Includes $15.4 million of restricted cash. We maintain
    restricted deposits in bank accounts to support our line of
    credit.
(3)
All related party notes receivable were repaid in full in
    November 2009.
In the table above, the number of shares outstanding as of
    October 31, 2009 does not include:
•
4,963,547 shares of our Class B common stock issuable
    upon the exercise of stock options outstanding as of
    October 31, 2009 with a weighted average exercise price of
    $4.25 per share
    (including           shares
    of our Class A common stock that we expect to be sold in
    this offering by certain selling stockholders upon the exercise
    of vested stock options with a weighted average exercise price
    of $      per share);
•
1,392,250 shares of our Class B common stock issuable
    upon the exercise of stock options granted after
    October 31, 2009 with a weighted average exercise price of
    $20.48 per share;
•
259,584 shares of our Class B common stock granted as
    restricted stock awards after October 31, 2009;
•
4,567,242 shares of our Class B common stock issuable
    upon the exercise of warrants outstanding as of October 31,
    2009 with a weighted average exercise price of $22.31 per share,
    including a warrant to purchase up to 4,283,456 shares that
    is exercisable only upon the achievement of performance goals
    specified in our arrangement with PayPal, Inc.; and
•
shares
    of our Class A common stock reserved for issuance under our
    2010 Equity Incentive Plan, which will become effective on the
    first day that our Class A common stock is publicly traded,
    as more fully described in "Executive
    Compensation – Employee Benefit Plans – 2010
    Equity Incentive Plan."
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DILUTION
If you invest in our Class A common stock in this offering,
    your interest will be diluted to the extent of the difference
    between the initial public offering price of our Class A
    common stock and the pro forma as adjusted net tangible book
    value of our Class A and Class B common stock after
    giving effect to this offering. As of October 31, 2009, our
    pro forma net tangible book value, before giving effect to this
    offering, was approximately $     , or
    $      per share, based
    upon           shares
    outstanding as of that date, including shares acquired through
    option exercises in order to be sold in this offering. Pro forma
    net tangible book value per share represents the amount of our
    total tangible assets less our total liabilities, divided by the
    number of outstanding shares of our Class A and
    Class B common stock, after giving effect to the automatic
    conversion of all outstanding shares of our preferred stock into
    shares of our Class B common stock.
After giving effect to the sale by us of
    the           shares
    of our Class A common stock offered by us in this
    prospectus at an assumed initial public offering price of
    $      per share, after deducting the
    estimated underwriting discounts and commissions and the
    estimated offering expenses, our pro forma as adjusted net
    tangible book value as of October 31, 2009 would have been
    approximately $      million, or
    $      per share. This represents an
    immediate increase in pro forma net tangible book value of
    $      per share to existing
    stockholders and an immediate dilution of
    $      per share to new investors
    purchasing shares of our Class A common stock at the
    initial public offering price. The following table illustrates
    this per share dilution:
Assumed initial public offering price per share of our
    Class A common stock
$
Pro forma net tangible book value per share as of
    October 31, 2009
$
Increase in pro forma net tangible book value per share
    attributable to new investors
Pro forma as adjusted net tangible book value per share as of
    October 31, 2009 after giving effect to this offering
Dilution in pro forma as adjusted net tangible book value per
    share to new investors
$
A $1.00 increase or decrease in the assumed initial public
    offering price of $ would increase or decrease our pro forma as
    adjusted net tangible book value per share after this offering
    by $      per share and the dilution in
    pro forma as adjusted net tangible book value to new investors
    by $      per share, assuming the
    number of shares offered by us, as set forth on the cover page
    of this prospectus, remains the same and after deducting the
    estimated underwriting discounts and commissions. If the
    underwriters exercise in full their option to purchase
    additional shares of our Class A common stock in this
    offering, the pro forma as adjusted net tangible book value per
    share after giving effect to this offering would be
    $      per share, and the dilution in
    pro forma as adjusted net tangible book value per share to
    investors in this offering would be
    $      per share.
The following table summarizes on the pro forma as adjusted
    basis described above, the difference between our existing
    stockholders and the purchasers of shares of our Class A
    common stock in this offering with respect to the number of
    shares of our common stock purchased from us, the total
    consideration paid to us and the average price per share paid to
    us, based on an assumed initial public offering price of
    $      per share, before deducting the
    estimated underwriting discounts and commissions:
Average
Shares Purchased
Total Consideration
Price
Number
Percent
Amount
Percent
per Share
Existing stockholders(1)
%
$
%
$
0.93
New investors
Total
100.0
%
100.0
%
(1)
Includes shares purchased by the selling stockholders, including
    shares acquired through option exercises in order to sell the
    shares in this offering.
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A $1.00 increase or decrease in the assumed initial public
    offering price of $      per share
    would increase or decrease, respectively, total consideration
    paid by new investors and total consideration paid by all
    stockholders by approximately
    $      million, assuming that the
    number of shares offered by us, as set forth on the cover page
    of this prospectus, remains the same.
The above discussion and tables assume no exercise of our stock
    options or warrants outstanding as of October 31, 2009,
    consisting of 4,963,547 shares of our Class B common
    stock issuable upon the exercise of stock options with a
    weighted average exercise price of approximately $4.25 per
    share, and 4,567,242 shares of our Class B common
    stock issuable upon the exercise of warrants with a weighted
    average exercise price of approximately $22.31 per share. If all
    of these options and warrants were exercised, then:
•
there would be an additional $      per
    share of dilution to new investors;
•
our existing stockholders, including the holders of these
    options and warrants, would own     %
    and our new investors would own     %
    of the total number of shares of our Class A and
    Class B common stock outstanding upon the completion of
    this offering; and
•
our existing stockholders, including the holders of these
    options and warrants, would have
    paid     % of total consideration, at
    an average price per share of $      ,
    and our new investors would have
    paid     % of total consideration.
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Table of Contents
SELECTED
    CONSOLIDATED FINANCIAL DATA
The following tables present selected historical financial data
    for our business. You should read this information together with
    "Management's Discussion and Analysis of Financial
    Condition and Results of Operations" and our consolidated
    financial statements, related notes and other financial
    information included elsewhere in this prospectus. The selected
    consolidated financial data in this section are not intended to
    replace the financial statements and are qualified in their
    entirety by the financial statements and related notes included
    elsewhere in this prospectus.
We derived the statement of operations data for the years ended
    July 31, 2007, 2008 and 2009 and the balance sheet data as
    of July 31, 2008 and 2009 from our audited consolidated
    financial statements included elsewhere in this prospectus. We
    derived the balance sheet data as of July 31, 2007 from our
    audited consolidated financial statements not included in this
    prospectus. We derived the statement of operations data for the
    years ended July 31, 2005 and 2006 and the balance sheet
    data as of July 31, 2005 and 2006 from our unaudited
    consolidated financial statements not included in this
    prospectus. We derived the statement of operations data for the
    three months ended October 31, 2008 and 2009 and the
    balance sheet data as of October 31, 2009 from our
    unaudited consolidated financial statements included elsewhere
    in this prospectus. In the opinion of our management, these
    unaudited financial data reflect all adjustments, consisting of
    normal and recurring adjustments, necessary for a fair statement
    as to results for those periods. Our historical results are not
    necessarily indicative of our results to be expected in any
    future period.
The pro forma per share data give effect to the conversion of
    all currently outstanding shares of our convertible preferred
    stock into shares of our Class B common stock upon the
    closing of this offering, as though the conversion had occurred
    at the beginning of the indicated fiscal period. For further
    information concerning the calculation of pro forma per share
    information, please refer to note 2 and note 12 of our
    notes to consolidated financial statements.
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Table of Contents
Three Months Ended
Year Ended July 31,
October 31,
2005
2006
2007
2008
2009
2008
2009
(Unaudited)
(Unaudited)
(In thousands, except per share amounts)
Consolidated Statement of Operations Data:
Operating revenues:
Card revenues
$
21,771
$
36,359
$
45,717
$
91,233
$
119,356
$
27,635
$
30,532
Cash transfer revenues
12,064
20,616
25,419
45,310
62,396
14,556
17,807
Interchange revenues
5,705
9,975
12,488
31,583
53,064
10,418
17,926
Total operating revenues
39,540
66,951
83,624
168,126
234,816
52,609
66,265
Operating expenses:
Sales and marketing expenses
19,148
28,660
38,838
69,577
75,786
20,538
18,165
Compensation and benefits expenses(1)
11,584
18,499
20,610
28,303
40,096
9,191
12,067
Processing expenses
6,990
8,547
9,809
21,944
32,320
7,297
10,053
Other general and administrative expenses
6,521
10,077
13,212
19,124
22,944
5,747
8,103
Total operating expenses
44,243
65,783
82,469
138,948
171,146
42,773
48,388
Operating income
(4,703
)
1,168
1,155
29,178
63,670
9,836
17,877
Interest income
300
301
771
665
396
210
60
Interest expense
(474
)
(823
)
(625
)
(247
)
(1
)
—
—
Income before income taxes
(4,877
)
645
1,301
29,596
64,065
10,046
17,937
Income tax expense (benefit)
—
111
(3,346
)
12,261
26,902
4,219
7,533
Net income
(4,877
)
535
4,647
17,335
37,163
5,827
10,404
Dividends, accretion and allocated earnings of preferred stock
—
(367
)
(5,157
)
(13,650
)
(29,000
)
(4,409
)
(7,013
)
Net income (loss) allocated to common stockholders
$
(4,877
)
$
168
$
(510
)
$
3,685
$
8,163
$
1,418
$
3,391
Earnings (loss) per common share:
Basic
$(0.48
)
$0.02
$(0.05
)
$0.34
$0.68
$0.12
$0.28
Diluted
$(0.48
)
$0.01
$(0.05
)
$0.26
$0.52
$0.09
$0.22
Weighted-average common shares issued and outstanding
10,228
10,873
11,100
10,757
12,036
12,026
12,060
Weighted-average diluted common shares issued and outstanding
10,228
13,194
11,100
14,154
15,712
16,034
15,318
Pro forma earnings per common share (unaudited):
Basic
$1.00
$0.28
Diluted
$0.91
$0.26
Pro forma weighted-average shares issued and outstanding
    (unaudited):
Basic
36,978
37,002
Diluted
40,654
40,260
Other Data:
Adjusted EBITDA(2)
$
(3,492
)
$
3,214
$
4,835
$34,825
$70,731
$
11,567
$
19,885
As of
As of July 31,
October 31,
2005
2006
2007
2008
2009
2009
(Unaudited)
(Unaudited)
(In thousands)
Consolidated Balance Sheet Data:
Cash, cash equivalents and restricted cash(3)
$
15,619
$
16,670
$
14,991
$
41,613
$
41,931
$
58,623
Settlement assets(4)
8,590
12,868
15,412
17,445
35,570
52,813
Total assets
30,436
42,626
56,441
97,246
123,269
161,628
Settlement obligations(4)
7,355
8,933
12,916
17,445
35,570
52,813
Long-term debt
6,769
5,030
2,446
—
—
—
Total liabilities
25,271
37,004
45,237
65,962
81,031
108,174
Redeemable convertible preferred stock
—
—
22,336
26,816
—
—
Total stockholders' equity (deficit)
5,165
5,623
(11,130
)
4,468
42,238
53,454
(1)
Includes stock-based compensation
    expense of $0, $0, $156,000, $1.2 million and
    $2.5 million for the years ended July 31, 2005, 2006,
    2007, 2008 and 2009, respectively, and $586,000 and $712,000 for
    the three months ended October 31, 2008 and 2009,
    respectively.
(2)
We anticipate that our investor and
    analyst presentations will include Adjusted EBITDA, which we
    define as net income plus net interest expense (income), income
    tax expense (benefit), depreciation and amortization, and
    stock-based compensation expense and which is a financial
    measure that is not calculated in accordance with GAAP. The
    table below provides a reconciliation of this non-GAAP financial
    measure to the most directly comparable financial measure
    calculated and presented in accordance with GAAP. Adjusted
    EBITDA should not be considered as an alternative to net income,
    operating income or any other measure of financial performance
    calculated and presented in accordance with GAAP. Our Adjusted
    EBITDA may not be comparable to similarly titled measures of
    other organizations because other organizations may not
    calculate Adjusted EBITDA in the same manner as we do. We
    prepare Adjusted EBITDA to eliminate the impact of items that we
    do not consider indicative of our core operating performance.
    You are encouraged to evaluate these adjustments and the reason
    we consider them appropriate.
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Table of Contents
We believe Adjusted EBITDA is
    useful to investors in evaluating our operating performance for
    the following reasons:
•
Adjusted EBITDA is widely used by
    investors to measure a company's operating performance
    without regard to items, such as interest expense, income tax
    expense, depreciation and amortization, and stock-based
    compensation expense, that can vary substantially from company
    to company depending upon their financing structure and
    accounting policies, the book value of their assets, their
    capital structures and the method by which their assets were
    acquired;
•
securities analysts use Adjusted
    EBITDA as a supplemental measure to evaluate the overall
    operating performance of companies; and
•
we adopted a new accounting
    standard for stock-based compensation effective August 1,
    2006 and recorded stock-based compensation expense of
    approximately $156,000, $1.2 million and $2.5 million
    for the years ended July 31, 2007, 2008 and 2009,
    respectively, and $586,000 and $712,000 for the three months
    ended October 31, 2008 and 2009, respectively. Prior to
    August 1, 2006, we accounted for stock-based compensation
    using the intrinsic value method under previously issued
    guidance, which resulted in zero stock-based compensation
    expense. By comparing our Adjusted EBITDA in different
    historical periods, our investors can evaluate our operating
    results without the additional variations caused by stock-based
    compensation expense, which is not comparable from year to year
    due to changes in accounting treatment, changes in the fair
    market value of our common stock (which is influenced by
    external factors like the volatility of public markets) and the
    financial performance of our peers, and is not a key measure of
    our operations.
Our management uses Adjusted EBITDA:
•
as a measure of operating
    performance, because it does not include the impact of items not
    directly resulting from our core operations;
•
for planning purposes, including
    the preparation of our annual operating budget;
•
to allocate resources to enhance
    the financial performance of our business;
•
to evaluate the effectiveness of
    our business strategies; and
•
in communications with our board of
    directors concerning our financial performance.
We understand that, although
    Adjusted EBITDA is frequently used by investors and securities
    analysts in their evaluations of companies, Adjusted EBITDA has
    limitations as an analytical tool, and you should not consider
    it in isolation or as a substitute for analysis of our results
    of operations as reported under GAAP. Some of these limitations
    are:
•
Adjusted EBITDA does not reflect
    our capital expenditures or future requirements for capital
    expenditures or other contractual commitments;
•
Adjusted EBITDA does not reflect
    changes in, or cash requirements for, our working capital needs;
•
Adjusted EBITDA does not reflect
    interest expense or interest income;
•
Adjusted EBITDA does not reflect
    cash requirements for income taxes;
•
although depreciation and
    amortization are non-cash charges, the assets being depreciated
    or amortized will often have to be replaced in the future, and
    Adjusted EBITDA does not reflect any cash requirements for these
    replacements; and
•
other companies in our industry may
    calculate Adjusted EBITDA differently than we do, limiting its
    usefulness as a comparative measure.
The following table presents a
    reconciliation of Adjusted EBITDA (unaudited) to net income, the
    most comparable GAAP measure, for each of the periods indicated.
Three Months
Year Ended July 31,
Ended October 31,
2005
2006
2007
2008
2009
2008
2009
(In thousands)
Reconciliation of Adjusted EBITDA to Net Income
Net income
$
(4,877
)
$
535
$
4,647
$
17,335
$
37,163
$
5,827
$
10,404
Interest expense (income), net
174
522
(146
)
(418
)
(395
)
(210
)
(60
)
Income tax expense (benefit)
—
111
(3,346
)
12,261
26,902
4,219
7,533
Depreciation and amortization
1,211
2,046
3,524
4,407
4,593
1,145
1,296
Stock-based compensation expense
—
—
156
1,240
2,468
586
712
Adjusted EBITDA
$
(3,492
)
$
3,214
$
4,835
$
34,825
$
70,731
$
11,567
$
19,885
(3)
Includes $6,025, $2,025, $2,285,
    $2,328, $15,367 and $15,381 of restricted cash at July 31,
    2005, 2006, 2007, 2008, 2009 and October 31, 2009,
    respectively.
(4)
Our retail distributors collect
    customer funds for purchases of new cards and reloads and then
    remit these funds directly to bank accounts established on
    behalf of those customers by the banks that issue our cards. Our
    retail distributors' remittance of these funds takes an
    average of three business days. Settlement assets represent the
    amounts due from our retail distributors for customer funds
    collected at the point of sale that have not yet been remitted
    to the card issuing banks. Settlement obligations represent the
    amounts that are due from us to the card issuing banks for funds
    collected but not yet remitted by our retail distributors and
    are not funded by our line of credit. We have no control over or
    access to customer funds remitted by our retail distributors to
    the card issuing banks. Customer funds therefore are not our
    assets, and we do not recognize them in our consolidated
    financial statements.
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Table of Contents
MANAGEMENT'S
    DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
You should read the following discussion and analysis in
    conjunction with our consolidated financial statements and
    related notes contained elsewhere in this prospectus. This
    discussion contains forward-looking statements that involve
    risks, uncertainties and assumptions. Our actual results may
    differ materially from those anticipated in these
    forward-looking statements as a result of a variety of factors,
    including those set forth under "Risk Factors" and
    elsewhere in this prospectus.
Overview
Green Dot is a leading prepaid financial services company
    providing simple,
low-cost
and
    convenient money management solutions to a broad base of
    U.S. consumers. We believe that we are the leading provider
    of general purpose reloadable prepaid debit cards in the United
    States and that our Green Dot Network is the leading prepaid
    reload network in the United States. We sell our cards and offer
    our reload services nationwide at approximately 50,000 major
    retail stores, which provide consumers convenient access to our
    products and services.
We were founded in October 1999 to distribute and service GPR
    cards. In 2001, we sold our first such card at a Rite Aid store
    in Virginia. Between 2001 and 2004, we concentrated on
    increasing our distribution capacity and established
    distribution agreements with CVS, The Pantry Stores (Kangaroo
    Express) and Radio Shack, among others. In 2004, we launched the
    Green Dot Network, which allowed our cardholders to reload funds
    onto their cards at any of our retail distributors'
    locations regardless of where their cards were initially
    purchased. For example, this allowed our cards purchased at Rite
    Aid stores to be reloaded at CVS stores. We also began to market
    the Green Dot Network to providers of third-party prepaid card
    programs, which enabled their cardholders to reload funds onto
    their cards through our Green Dot Network. In 2005, we continued
    to expand our distribution capacity by establishing a
    distribution relationship with Walgreens. In May 2007, we began
    marketing and distributing Green Dot-branded cards over the
    Internet and through our website.
In October 2006, we entered into agreements with Walmart and GE
    Money Bank to manage a co-branded GPR card program for Walmart
    and to provide reload network services at Walmart stores through
    our Green Dot Network. After an extensive product design and
    pilot period, we launched the Walmart MoneyCard program in
    approximately 2,500, or 70%, of Walmart's U.S. stores
    in July 2007. In October 2007, we launched a Visa-branded
    non-reloadable gift card program at most of these stores. By
    October 31, 2009, we offered the Walmart MoneyCard in more
    than 3,600, or 97%, of Walmart's U.S. stores. Since
    its inception, the Walmart MoneyCard program has been highly
    successful, contributing significantly to the increase in our
    total operating revenues. To enhance the value proposition to
    cardholders, in February 2009, significant pricing changes were
    made to the Walmart MoneyCard program. The new card fee, monthly
    maintenance fee and
point-of-sale,
or POS, swipe reload fee for Walmart MoneyCards at Walmart
    stores were each lowered to $3.00 from $8.94, $4.94 and $4.64,
    respectively. Our revenues from Walmart have increased
    significantly in response to these pricing changes, as
    substantial increases in volumes more than offset the revenue
    impact of the lower fees.
In July 2009, we re-launched our core Green Dot-branded GPR card
    with new packaging, features and pricing. Our innovative new
    package contains a temporary prepaid card, for the first time
    visible to the consumer through the packaging, that can be used
    immediately upon activation. New card features include free
    online bill payment services and a fee-free ATM network with
    approximately 17,000 participating ATMs. We reduced the new card
    fee from $9.95 to $4.95. We raised the monthly maintenance fee
    from $4.95 to $5.95, and at the same time instituted maintenance
    fee waivers for months in which cardholders either load $1,000
    or more onto their cards or make at least 30 purchase
    transactions in order to encourage increased card usage and
    cardholder retention. The re-launch of the Green Dot-branded GPR
    card generated significant increases in volume that more than
    offset the revenue impact of the lower new card fees.
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Table of Contents
In September 2009, we further expanded our distribution capacity
    by entering into a distribution agreement with 7-Eleven. In
    September 2009, PayPal became a new acceptance member in the
    Green Dot Network, allowing PayPal account holders to add funds
    to their accounts using our MoneyPak product. These funds can be
    used immediately by account holders unlike funds loaded to
    PayPal accounts from a bank account, which may not be available
    for several days. In October 2009, we further expanded our
    distribution capacity by entering into a joint marketing and
    referral agreement with Intuit Inc. In January 2010, Intuit
    integrated into its TurboTax software an option that allows its
    customers to receive their tax refunds via direct deposit to a
    Green Dot co-branded GPR card called a TurboTax Refund Card.
Key Business
    Metrics
We designed our business model to provide low-cost, easy-to-use
    financial products and services to a large number of customers
    through retail store and online distribution. We review a number
    of metrics to help us monitor the performance of, and identify
    trends affecting, our business. We believe the following
    measures are the primary indicators of our quarterly and annual
    performance.
Number of GPR Cards Activated –
represents the
    total number of GPR cards sold through our retail and online
    distribution channels that are activated (and, in the case of
    our online channel, also funded) by cardholders in a specified
    period. We activated 894,000, 2.2 million and
    3.1 million GPR cards in fiscal 2007, 2008 and 2009,
    respectively, and 567,000 and 1.1 million GPR cards in the
    three months ended October 31, 2008 and 2009, respectively.
Number of Cash Transfers –
represents the total
    number of MoneyPak and POS swipe reload transactions that we
    sell through our retail distributors in a specified period. We
    sold 5.0 million, 9.2 million and 14.1 million
    MoneyPak and POS swipe reload transactions in fiscal 2007, 2008
    and 2009, respectively, and 3.0 million and
    4.8 million MoneyPak and POS swipe reload transactions in
    the three months ended October 31, 2008 and 2009,
    respectively.
Number of Active Cards –
represents the total
    number of GPR cards in our portfolio that have had a purchase,
    reload or ATM withdrawal transaction during the previous
90-day
period. We had 625,000, 1.3 million and 2.1 million
    active cards outstanding as of July 31, 2007, 2008 and
    2009, respectively, and 1.3 million and 2.4 million
    active cards outstanding as of October 31, 2008 and 2009,
    respectively.
Gross Dollar Volume –
represents the total
    dollar volume of funds loaded to our GPR card and MoneyPak
    products. Our gross dollar volume was $1.1 billion,
    $2.8 billion and $4.7 billion in fiscal 2007, 2008 and
    2009, respectively, and $1.0 billion and $1.6 billion
    in the three months ended October 31, 2008 and 2009,
    respectively.
Key components of
    our results of operations
Operating
    Revenues
We classify our operating revenues into the following three
    categories:
Card Revenues.
Card revenues consist of new
    card fees, monthly maintenance fees, ATM fees and other
    revenues. We charge new card fees when a consumer purchases a
    GPR or gift card in a retail store. We charge maintenance fees
    on GPR cards to cardholders on a monthly basis pursuant to the
    terms and conditions in our cardholder agreements. We charge ATM
    fees to cardholders when they withdraw money or conduct other
    transactions at certain ATMs in accordance with the terms and
    conditions in our cardholder agreements. Other revenues consist
    primarily of fees associated with optional products or services,
    which we generally offer to consumers during the card activation
    process. Optional products and services that generate other
    revenues include providing a second card for an account,
    expediting delivery of the personalized GPR card that replaces
    the temporary card obtained at the retail store and upgrading a
    cardholder account to one of our premium programs
    – the VIP program or Premier Card program –
    which provide benefits for our more active cardholders.
    Historically, our card revenues have also included customer
    service fees that we charged in accordance with the terms and
    conditions of our cardholder agreements.
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Our aggregate new card fee revenues vary based upon the number
    of GPR cards activated and the average new card fee. The average
    new card fee depends primarily upon the mix of products that we
    sell since there are variations in new card fees among Green
    Dot-branded and co-branded products and between GPR cards and
    general purpose gift cards. Our aggregate monthly maintenance
    fee revenues vary primarily based upon the number of cards in
    our portfolio and the average fee assessed per account. Our
    average monthly maintenance fee per active account depends upon
    the mix of Green Dot-branded and co-branded cards in our
    portfolio and upon the extent to which fees are waived based on
    significant usage. Our aggregate ATM fee revenues vary based
    upon the number of cardholder ATM transactions and the average
    fee per ATM transaction. The average fee per ATM transaction
    depends upon the mix of Green Dot-branded and co-branded active
    cards in our portfolio and the extent to which cardholders
    enroll in our VIP program, which has no ATM fees, or make ATM
    transactions on our fee-free ATM network.
Cash Transfer Revenues.
We earn cash transfer
    revenues when consumers purchase and use a MoneyPak or fund
    their cards through a POS swipe reload transaction in a retail
    store. Our aggregate cash transfer revenues vary based upon the
    total number of MoneyPak and POS swipe reload transactions and
    the average price per MoneyPak or POS swipe reload transaction.
    The average price per MoneyPak or POS swipe reload transaction
    depends upon the relative numbers of cash transfer sales at our
    different retail distributors and on the mix of MoneyPak and POS
    swipe reload transactions at certain retailers that have
    different fees for the two types of reload transactions.
Interchange Revenues.
We earn interchange
    revenues from fees remitted by the merchant's bank, which
    are based on rates established by Visa and MasterCard, when
    cardholders make purchase transactions using our cards. Our
    aggregate interchange revenues vary based primarily on the
    number of active cards in our portfolio and on the mix of
    cardholder purchases between those using signature
    identification technologies and those using personal
    identification numbers.
Operating
    Expenses
We classify our operating expenses into the following four
    categories:
Sales and Marketing Expenses.
Sales and
    marketing expenses consist primarily of the sales commissions we
    pay to our retail distributors for sales of our GPR and gift
    cards and reload services in their stores, advertising and
    marketing expenses, the costs of manufacturing and distributing
    to our retail distributors card packages, placards and
    promotional materials and the costs associated with providing
    personalized GPR cards to consumers who have activated their
    cards. We generally establish sales commission percentages in
    long-term distribution agreements with our retail distributors,
    and aggregate sales commissions are determined by the number of
    prepaid cards and cash transfers sold at their respective retail
    stores. We incur advertising and marketing expenses for
    television and online advertisements of our products and through
    retailer-based print promotions and in-store displays.
    Advertising and marketing expenses are recognized as incurred
    and typically deliver a benefit over an extended period of time.
    For this reason, these expenses do not always track changes in
    revenues. Our manufacturing and distribution costs vary
    primarily based on the number of GPR cards activated.
Compensation and Benefits
    Expenses.
Compensation and benefits expenses
    represent the compensation and benefits that we provide to our
    employees and the payments we make to third-party contractors.
    While we have an in-house customer service organization, we
    employ third-party contractors to conduct all call center
    operations, handle routine customer service inquiries and
    provide temporary support in the area of IT operations and
    elsewhere. Compensation and benefits expenses associated with
    our customer service and loss management functions generally
    vary in line with the size of our active card portfolio, while
    the expenses associated with other functions do not.
Processing Expenses.
Processing expenses
    consist primarily of the fees charged to us by the banks that
    issue our prepaid cards, the third-party card processor that
    maintains the records of our customers' accounts and
    processes transaction authorizations and postings for us, and
    MasterCard
37
Table of Contents
and Visa, which process transactions for us through their
    respective payment networks. These costs generally vary based on
    the total number of active cards in our portfolio.
Other General and Administrative
    Expenses.
Other general and administrative
    expenses consist primarily of professional service fees,
    telephone and communication costs, depreciation and amortization
    of our property and equipment, losses from unrecovered customer
    purchase transaction overdrafts and fraud, rent and utilities,
    and insurance. We incur telephone and communication costs
    primarily from customers contacting us through our toll-free
    telephone numbers. These costs vary with the total number of
    active cards in our portfolio as do losses from unrecovered
    customer purchase transaction overdrafts and fraud. Costs
    associated with professional services, depreciation and
    amortization of our property and equipment and rent and
    utilities vary based upon our investment in infrastructure, risk
    management and internal controls and are generally not
    correlated with our operating revenues or other transaction
    metrics.
Income Tax
    Expense
Our income tax expense consists of the federal and state
    corporate income taxes accrued on income resulting from the sale
    of our products and services. Since the majority of our
    operations are based in California, most of our state taxes are
    paid to that state.
Comparison of
    Three Months Ended October 31, 2008 and 2009
    (unaudited)
Operating
    Revenues
The following table presents the breakdown of operating revenues
    among card, cash transfer and interchange revenues:
Three Months Ended October 31,
2008
2009
Percentage of Total
Percentage of Total
Amount
Operating Revenues
Amount
Operating Revenues
(Dollars in thousands)
Operating revenues:
Card revenues
$
27,635
52.5
%
$
30,532
46.1
%
Cash transfer revenues
14,556
27.7
17,807
26.9
Interchange revenues
10,418
19.8
17,926
27.0
Total operating revenues
$
52,609
100.0
%
$
66,265
100.0
%
Card Revenues.
Our card revenues totaled
    $30.5 million in the three months ended October 31,
    2009, an increase of $2.9 million, or 10%, from the
    comparable period in fiscal 2008. This increase was primarily
    due to
period-over-period
growth of 97% in the number of GPR cards activated and 79% in
    the number of active cards in our portfolio, largely offset by
    the February 2009 reduction in new card and monthly maintenance
    fees for the Walmart MoneyCard and the July 2009 reduction in
    the new card fee for Green Dot-branded cards. These fee
    reductions also contributed to the decline in card revenues as a
    percentage of total operating revenues. We expect our card
    revenues will continue to increase in absolute dollars as the
    number of our cards grows, but we do not expect them to shift
    significantly as a percentage of our total operating revenues
    from the percentage for the three months ended October 31,
    2009.
Cash Transfer Revenues.
Our cash transfer
    revenues totaled $17.8 million in the three months ended
    October 31, 2009, an increase of $3.3 million, or 22%,
    from the comparable period in fiscal 2008. This increase was
    primarily due to
period-over-period
growth of 61% in the number of cash transfers sold, partially
    offset by a shift in our retail distributor mix toward Walmart,
    which generally has lower fees than our other retail
    distributors and significantly reduced the POS swipe reload fee
    in February 2009. We expect our cash transfer revenues will
    continue to increase in absolute dollars in because of the
    recent increase in the number of GPR cards activated and the
    addition of PayPal as a network acceptance member, but we do not
    expect them to shift significantly as a percentage of total
    operating revenues from the percentage for the three months
    ended October 31, 2009.
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Table of Contents
Interchange Revenues.
Our interchange revenues
    totaled $17.9 million in the three months ended
    October 31, 2009, an increase of $7.5 million, or 72%,
    from the comparable period in fiscal 2008. This increase was
    primarily due to
period-over-period
growth of 79% in the number of active cards in our portfolio. We
    expect our interchange revenues will continue to increase in
    absolute dollars, but we do not expect them to shift
    significantly as a percentage of total operating revenues from
    the percentage for the three months ended October 31, 2009.
Operating
    Expenses
The following table presents the breakdown of operating expenses
    among sales and marketing, compensation and benefits,
    processing, and other general and administrative expenses:
Three Months Ended October 31,
2008
2009
Percentage of Total
Percentage of Total
Amount
Operating Revenues
Amount
Operating Revenues
(Dollars in thousands)
Operating expenses:
Sales and marketing expenses
$
20,538
39.0
%
$
18,165
27.4
%
Compensation and benefits expenses
9,191
17.5
12,067
18.2
Processing expenses
7,297
13.9
10,053
15.2
Other general and administrative expenses
5,747
10.9
8,103
12.2
Total operating expenses
$
42,773
81.3
%
$
48,388
73.0
%
Sales and Marketing Expenses.
Our sales and
    marketing expenses were $18.2 million in the three months
    ended October 31, 2009, a decrease of $2.4 million, or
    12%, from the comparable period in fiscal 2008. This decrease
    was primarily the result of a $4.4 million decline in
    advertising and marketing expenses. During the 2009 comparison
    period, we did no television advertising and deployed fewer new
    in-store displays. The decrease in sales and marketing expenses
    was also the result of a $0.4 million, or 4%, decline in
    the sales commissions we paid to our retail distributors and
    brokers because of reductions in the commission percentages we
    paid to our retail distributors, most significantly Walmart.
    These declines were partially offset by a $2.4 million
    increase in the manufacturing and distribution costs of card
    packaging, placards and promotional materials due to increased
    numbers of GPR cards and MoneyPaks sold. We expect our sales and
    marketing expenses as a percentage of our total operating
    revenues to increase significantly in the year ending
    December 31, 2010 from the percentage in the three months
    ended October 31, 2009 as we strategically engage in
    television advertising, which we recommenced in January 2010,
    and as the contractual sales commission percentage that we are
    obligated to pay to Walmart increases substantially in May 2010
    to a level approximating where it was before
    mid-February 2009.
Compensation and Benefits Expenses.
Our
    compensation and benefits expenses were $12.1 million in
    the three months ended October 31, 2009, an increase of
    $2.9 million, or 31%, from the comparable period in fiscal
    2008. This increase was primarily the result of a
    $2.1 million increase in third-party contractor expenses as
    the number of active cards in our portfolio and associated call
    volumes grew from the three months ended October 31, 2008
    to the comparable period in fiscal 2009. This increase was also
    the result of a $0.8 million increase in employee
    compensation and benefits, including a $0.1 million
    increase in stock-based compensation, as our headcount grew from
    241 as of October 31, 2008 to 256 as of October 31,
    2009. We expect our compensation and benefits expenses to
    increase as we continue to add personnel and incur additional
    third-party contractor expenses to support expanding operations
    and as we assume the reporting requirements and compliance
    obligations of a public company. However, we expect these
    expenses to decline as a percentage of our total operating
    revenues from the percentage in the three months ended
    October 31, 2009 since aggregate
39
Table of Contents
compensation and benefits should grow more slowly than total
    operating revenues as we scale our business.
Processing Expenses.
Our processing expenses
    were $10.1 million in the three months ended
    October 31, 2009, an increase of $2.8 million, or 38%,
    from the comparable period in fiscal 2008. This increase was
    primarily the result of
period-over-period
growth of 79% in the number of active cards in our portfolio,
    partially offset by lower fees charged to us under agreements
    with one of the banks that issue our cards and our third-party
    card processor that became effective in November 2008 and by
    more efficient use of our card processor through the purging of
    inactive accounts and a more effective use of analysis and
    reporting tools. We expect our processing expenses to increase
    in absolute dollars but to decline slowly as a percentage of our
    total operating revenues from the percentage in the three months
    ended October 31, 2009 as our contracts with our
    third-party providers generally contain tiered-pricing
    structures under which an increasing number of transactions and
    cards result in lower per-transaction costs.
Other General and Administrative Expenses.
Our
    other general and administrative expenses were $8.1 million
    in the three months ended October 31, 2009, an increase of
    $2.4 million, or 41%, from the comparable period in fiscal
    2008. This increase was primarily the result of a
    $1.6 million increase in professional service fees due to
    our potential bank acquisition and other corporate development
    initiatives and a $0.6 million increase in telephone and
    communication expenses due to increased use of our call center
    and our interactive voice response system, or IVR, as the number
    of active cards in our portfolio increased. We expect these
    expenses to increase in absolute dollars as we incur additional
    costs related to the growth of our business and as we assume the
    reporting requirements and compliance obligations of a public
    company. However, we expect these expenses to decline as a
    percentage of our total operating revenues from the percentage
    in the three months ended October 31, 2009 as we benefit
    from past significant investments that we have made and from the
    potential acquisition of a bank.
Income Tax
    Expense
The following table presents the breakdown of our effective tax
    rate among federal, state and other:
Three Months Ended October 31,
2008
2009
U.S. federal income tax
35.0
%
35.0
%
State income taxes, net of federal benefit
6.1
6.0
Other
0.9
1.0
Income tax expense
42.0
%
42.0
%
Our income tax expense increased by $3.3 million to
    $7.5 million in the three months ended October 31,
    2009, but there was no change in the effective tax rate. We
    expect our effective tax rate to decline over the next two years
    as changes in California tax law result in less of our income
    before income taxes being allocated to the state of California.
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Table of Contents
Comparison of
    Fiscal 2008 and 2009
Operating
    Revenues
The following table presents the breakdown of operating revenues
    among card, cash transfer and interchange revenues:
Year Ended July 31,
2008
2009
Percentage of Total
Percentage of Total
Amount
Operating Revenues
Amount
Operating Revenues
(Dollars in thousands)
Operating revenues:
Card revenues
$
91,233
54.3
%
$
119,356
50.8
%
Cash transfer revenues
45,310
26.9
62,396
26.6
Interchange revenues
31,583
18.8
53,064
22.6
Total operating revenues
$
168,126
100.0
%
$
234,816
100.0
%
Card Revenues.
Our card revenues totaled
    $119.4 million in fiscal 2009, an increase of
    $28.1 million, or 31%, from fiscal 2008. This increase was
    primarily due to
year-over-year
growth of 43% in the number of GPR cards activated and 62% in
    the number of active cards in our portfolio, partially offset by
    the February 2009 reduction in new card and monthly maintenance
    fees for the Walmart MoneyCard. This reduction in fees also
    contributed to the decline in card revenues as a percentage of
    total operating revenues.
Cash Transfer Revenues.
Our cash transfer
    revenues totaled $62.4 million in fiscal 2009, an increase
    of $17.1 million, or 38%, from fiscal 2008. This increase
    was primarily due to
year-over-year
growth of 54% in the number of cash transfers, partially offset
    by a shift in our retail distributor mix toward Walmart, which
    generally has lower fees than our other retail distributors and
    significantly reduced the POS swipe reload fee in February 2009.
Interchange Revenues.
Our interchange revenues
    totaled $53.1 million in fiscal 2009, an increase of
    $21.5 million, or 68%, from fiscal 2008. This increase was
    primarily due to
year-over-year
growth of 62% in the number of active cards in our portfolio.
Operating
    Expenses
The following table presents the breakdown of operating expenses
    among sales and marketing, compensation and benefits,
    processing, and other general and administrative expenses:
Year Ended July 31,
2008
2009
Percentage of Total
Percentage of Total
Amount
Operating Revenues
Amount
Operating Revenues
(Dollars in thousands)
Operating expenses:
Sales and marketing expenses
$
69,577
41.4
%
$
75,786
32.3
%
Compensation and benefits expenses
28,303
16.8
40,096
17.1
Processing expenses
21,944
13.0
32,320
13.7
Other general and administrative expenses
19,124
11.4
22,944
9.8
Total operating expenses
$
138,948
82.6
%
$
171,146
72.9
%
Sales and Marketing Expenses.
Our sales and
    marketing expenses were $75.8 million in fiscal 2009, an
    increase of $6.2 million, or 9%, from fiscal 2008. This
    increase was primarily the result of a $10.1 million, or
    25%, increase in the sales commissions we paid to our retail
    distributors and brokers.
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Table of Contents
Aggregate commissions increased because of increased sales, but
    the impact of these increased sales was offset in part by a
    reduction in pricing and commission rates at Walmart. The
    increase in sales and marketing expenses was also the result of
    a $2.7 million increase in the manufacturing and
    distribution costs of card packages, placards and promotional
    materials due to the re-launch of our Green Dot-branded products
    and increased numbers of GPR cards and MoneyPaks sold. These
    sales and marketing expense increases were partially offset by a
    $6.6 million decline in advertising and marketing expenses,
    principally as a result of our decision not to use television
    advertising during fiscal 2009.
Compensation and Benefits Expenses.
Our
    compensation and benefits expenses were $40.1 million in
    fiscal 2009, an increase of $11.8 million, or 42%, from
    fiscal 2008. This increase was primarily the result of a
    $9.0 million increase in employee compensation and
    benefits, including a $1.2 million increase in stock-based
    compensation, as our headcount grew from 209 at the end of
    fiscal 2008 to 248 at the end of fiscal 2009 and we hired
    several new members of management. Third-party contractor
    expenses also increased by $2.8 million as the number of
    active cards in our portfolio and associated call volumes grew
    from fiscal 2008 to fiscal 2009.
Processing Expenses.
Our processing expenses
    were $32.3 million in fiscal 2009, an increase of
    $10.4 million, or 47%, from fiscal 2008. This increase was
    primarily the result of
year-over-year
growth of 62% in the number of active cards in our portfolio.
    This growth was partially offset by lower fees charged to us
    under agreements with one of the banks that issue our cards and
    our third-party card processor that became effective in November
    2008 and by more efficient use of our card processor.
Other General and Administrative Expenses.
Our
    other general and administrative expenses were
    $22.9 million in fiscal 2009, an increase of
    $3.8 million, or 20%, from fiscal 2008. This increase was
    primarily the result of a $1.6 million increase in
    telephone and communication expenses due to increased call
    volumes as the number of active cards in our portfolio increased
    and a $1.4 million increase in professional service fees
    primarily associated with corporate development initiatives. We
    also had increases of $0.4 million in rent due to
    additional office space that we leased to support our increased
    headcount and $0.4 million related to the write-off of
    abandoned internal-use software. These increases were partially
    offset by the reversal of a $0.5 million reserve that was
    accrued in fiscal 2008 for a potential litigation settlement.
Income Tax
    Expense
The following table presents the breakdown of our effective tax
    rate among federal, state and other:
Year Ended July 31,
2008
2009
U.S. federal income tax
35.0
%
35.0
%
State income taxes, net of federal benefit
5.7
6.1
Other
0.7
0.9
Income tax expense
41.4
%
42.0
%
Our income tax expense increased by $14.6 million from
    fiscal 2008 to $26.9 million in fiscal 2009, an effective
    tax rate increase of 0.9% from 41.4% to 42.0%. This increase was
    primarily due to the utilization in fiscal 2008 of our remaining
    net operating loss carryforwards to reduce taxable income.
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Table of Contents
Comparison of
    Fiscal 2007 and 2008
Operating
    Revenues
The following table presents the breakdown of operating revenues
    among card, cash transfer and interchange revenues (in
    thousands, except percentages):
Year Ended July 31,
2007
2008
Percentage of Total
Percentage of Total
Amount
Operating Revenues
Amount
Operating Revenues
(Dollars in thousands)
Operating revenues:
Card revenues
$
45,717
54.7
%
$
91,233
54.3
%
Cash transfer revenues
25,419
30.4
45,310
26.9
Interchange revenues
12,488
14.9
31,583
18.8
Total operating revenues
$
83,624
100.0
%
$
168,126
100.0
%
Card Revenues.
Our card revenues totaled
    $91.2 million in fiscal 2008, an increase of
    $45.5 million, or 100%, from fiscal 2007. This increase was
    primarily due to
year-over-year
growth of 142% in the number of GPR cards activated and 103% in
    the number of active cards in our portfolio.
Cash Transfer Revenues.
Our cash transfer
    revenues totaled $45.3 million in fiscal 2008, an increase
    of $19.9 million, or 78%, from fiscal 2007. This increase
    was primarily due to
year-over-year
growth of 83% in the number of cash transfers.
Interchange Revenues.
Our interchange revenues
    totaled $31.6 million in fiscal 2008, an increase of
    $19.1 million, or 153%, from fiscal 2007. This increase was
    primarily due to
year-over-year
growth of 103% in the number of active cards in our portfolio.
Operating
    Expenses
The following table presents the breakdown of operating expenses
    among sales and marketing, compensation and benefits,
    processing, and other general and administrative expenses:
Year Ended July 31,
2007
2008
Percentage of Total
Percentage of Total
Amount
Operating Revenues
Amount
Operating Revenues
(Dollars in thousands)
Operating expenses:
Sales and marketing expenses
$
38,838
46.5
%
$
69,577
41.4
%
Compensation and benefits expenses
20,610
24.6
28,303
16.8
Processing expenses
9,809
11.7
21,944
13.0
Other general and administrative expenses
13,212
15.8
19,124
11.4
Total operating expenses
$
82,469
98.6
%
$
138,948
82.6
%
Sales and Marketing Expenses.
Our sales and
    marketing expenses were $69.6 million in fiscal 2008, an
    increase of $30.7 million, or 79%, from fiscal 2007. This
    increase was primarily the result of a $14.5 million, or
    55%, increase in the sales commissions we paid to our retail
    distributors and brokers and a $9.8 million increase in the
    manufacturing and distribution costs of our card packaging,
    placards and promotional materials. Sales commissions and
    manufacturing and distribution costs increased principally due
    to increased sales of GPR cards and cash loading services.
    Advertising and marketing expenses also increased by
    $6.4 million from fiscal 2007 to fiscal 2008 as a result of
    significant television advertising in fiscal 2008.
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Table of Contents
Compensation and Benefits Expenses.
Our
    compensation and benefits expenses were $28.3 million in
    fiscal 2008, an increase of $7.7 million, or 37%, from
    fiscal 2007. This increase was primarily the result of a
    $4.3 million increase in employee compensation and
    benefits, including a $1.1 million increase in stock-based
    compensation, as our headcount increased from 160 at the end of
    fiscal 2007 to 209 at the end of fiscal 2008. Third-party
    contractor expenses also increased by $3.3 million from
    fiscal 2007 to fiscal 2008 as the number of active cards in our
    portfolio and associated call volumes grew from fiscal 2007 to
    fiscal 2008.
Processing Expenses.
Our processing expenses
    were $21.9 million in fiscal 2008, an increase of
    $12.1 million, or 124%, from fiscal 2007. This increase was
    primarily the result of
year-over-year
growth of 103% in the number of active cards in our portfolio.
Other General and Administrative Expenses.
Our
    other general and administrative expenses were
    $19.1 million in fiscal 2008, an increase of
    $5.9 million, or 45%, from fiscal 2007. This increase was
    primarily the result of a $1.6 million increase in
    professional services fees related, among other things, to an
    uncompleted financing transaction, a $1.1 million increase
    in telephone and communications expenses primarily related to
    growth in call center volumes and a $1.1 million increase
    in losses from fraud and purchase transaction overdrafts. Call
    center volumes and losses from fraud and purchase transaction
    overdrafts increased as the number of active cards in our
    portfolio increased. Additionally, depreciation and amortization
    of property and equipment increased by $0.9 million due to
    expansion of our infrastructure to support our growth, we
    accrued $0.5 million for a potential litigation settlement
    and we had a $0.3 million increase in repair and
    maintenance expenses.
Income Tax
    (Benefit) Expense
The following table presents the breakdown of our effective tax
    rate among federal, state and other:
Year Ended July 31,
2007
2008
U.S. federal income tax
35.0
%
35.0
%
State income taxes, net of federal benefit
6.1
5.7
Change in valuation allowance
(288.9
)
0.0
Other
(9.4
)
0.7
Income tax (benefit) expense
(257.2
)%
41.4
%
In fiscal 2007, we had an income tax benefit of
    $3.3 million, and in fiscal 2008 we had an income tax
    expense of $12.3 million. The $15.6 million change was
    primarily due to federal and state net operating loss
    carryforwards of $2.8 million and $2.7 million,
    respectively, that were applied in 2007 to reduce taxable income
    along with a $3.8 million reduction in the valuation
    allowance associated with our deferred tax asset in fiscal 2007.
44
Table of Contents
Quarterly Results
    of Operations
The following tables set forth unaudited quarterly consolidated
    statement of income data for fiscal 2008 and 2009 and for the
    three months ended October 31, 2009, as well as the
    percentage of our total operating revenues that each line item
    represented. We have prepared our consolidated statements of
    operations for each of these quarters on the same basis as the
    audited consolidated financial statements included elsewhere in
    this prospectus, except for certain consolidated statements of
    operations items related to income allocated to common
    stockholders and earnings per common share and, in the opinion
    of our management, each statement of operations includes all
    adjustments, consisting solely of normal recurring adjustments,
    necessary for the fair statement of the results of operations
    for these periods. This information should be read in
    conjunction with the consolidated financial statements and
    related notes included elsewhere in this prospectus. These
    quarterly operating results are not necessarily indicative of
    our operating results for any future period.
For the Three Months Ended
Oct. 31,
Jan. 31,
April 30,
July 31,
Oct. 31,
Jan. 31,
April 30,
July 31,
Oct. 31,
2007
2008
2008
2008
2008
2009
2009
2009
2009
(Unaudited, in thousands)
Operating revenues:
Card revenues
$
16,981
$
21,166
$
25,787
$
27,299
$
27,635
$
28,983
$
31,376
$
31,362
$
30,532
Cash transfer revenues
8,531
10,498
12,770
13,511
14,556
15,216
15,634
16,990
17,807
Interchange revenues
4,973
7,365
9,152
10,093
10,418
11,852
14,715
16,079
17,926
Total operating revenues
30,485
39,029
47,709
50,903
52,609
56,051
61,725
64,431
66,265
Operating expenses:
Sales and marketing expenses
15,437
17,456
18,331
18,353
20,538
21,437
17,840
15,971
18,165
Compensation and benefits expenses
6,333
6,552
7,518
7,900
9,191
9,266
9,782
11,857
12,067
Processing expenses
3,894
5,013
6,208
6,829
7,297
6,890
8,338
9,795
10,053
Other general and administrative expenses
4,069
4,276
4,838
5,941
5,747
5,532
5,408
6,257
8,103
Total operating expenses
29,733
33,297
36,895
39,023
42,773
43,125
41,368
43,880
48,388
Operating income
752
5,732
10,814
11,880
9,836
12,926
20,357
20,551
17,877
Interest income
145
135
168
217
210
62
43
81
60
Interest expense
(102
)
(84
)
(61
)
—
—
(1
)
—
—
—
Income before income taxes
795
5,783
10,921
12,097
10,046
12,987
20,400
20,632
17,937
Income tax expense
328
2,396
4,525
5,012
4,219
5,454
8,566
8,663
7,533
Net income
$
467
$
3,387
$
6,396
$
7,085
$
5,827
$
7,533
$
11,834
$
11,969
$
10,404
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Table of Contents
As a Percentage of Total Operating Revenues
For the Three Months Ended
Oct. 31,
Jan. 31,
April 30,
July 31,
Oct. 31,
Jan. 31,
April 30,
July 31,
Oct. 31,
2007
2008
2008
2008
2008
2009
2009
2009
2009
Operating revenues:
Card revenues
55.7
%
54.2
%
54.0
%
53.7
%
52.5
%
51.8
%
50.9
%
48.6
%
46.1
%
Cash transfer revenues
28.0
26.9
26.8
26.5
27.7
27.1
25.3
26.4
26.9
Interchange revenues
16.3
18.9
19.2
19.8
19.8
21.1
23.8
25.0
27.0
Total operating revenues
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
Operating expenses:
Sales and marketing expenses
50.6
44.7
38.4
36.1
39.0
38.2
28.9
24.8
27.4
Compensation and benefits expenses
20.8
16.8
15.8
15.5
17.5
16.5
15.8
18.4
18.2
Processing expenses
12.8
12.8
13.0
13.4
13.9
12.3
13.5
15.2
15.2
Other general and administrative expenses
13.3
11.0
10.1
11.7
10.9
9.9
8.8
9.7
12.2
Total operating expenses
97.5
85.3
77.3
76.7
81.3
76.9
67.0
68.1
73.0
Operating income
2.5
14.7
22.7
23.3
18.7
23.1
33.0
31.9
27.0
Interest income
0.5
0.3
0.3
0.5
0.4
0.1
0.1
0.1
0.1
Interest expense
(0.4
)
(0.2
)
(0.1
)
—
—
—
—
—
—
Income before income taxes
2.6
14.8
22.9
23.8
19.1
23.2
33.1
32.0
27.1
Income tax expense
1.1
6.1
9.5
9.9
8.0
9.8
13.9
13.4
11.4
Net income
1.5
%
8.7
%
13.4
%
13.9
%
11.1
%
13.4
%
19.2
%
18.6
%
15.7
%
Our total operating revenues have increased sequentially in each
    of the quarters presented due primarily to a combination of
    increased numbers of cash transfers sold and growth in our
    portfolio of active cards. Our numbers of sales and active cards
    have increased as we have sold our products in a growing number
    of retail locations and increased same-store sales. Cash
    transfer revenues and interchange revenues have increased
    sequentially in each of the quarters presented because of steady
    growth in the number of cash transfers, network acceptance
    members, and active cards in our portfolio. Over the periods
    presented, we have experienced fluctuations in the growth rate
    of our card revenues, from a 24.6% increase between the quarters
    ended October 31, 2007 and January 31, 2008, due
    primarily to seasonality in the number of GPR cards activated
    and to a lesser extent to the introduction of gift cards in
    Walmart stores for the 2007 holiday season, to a 2.6% decrease
    between the quarters ended July 31 and October 31, 2009,
    due primarily to the July 2009 reduction in the new card fee for
    our Green Dot-branded GPR cards, substantially offset by the
    growth in sales of those cards. Monthly maintenance fees and ATM
    fees, currently the other large components of card revenues
    besides new card fees, have increased sequentially in each of
    the quarters presented, while the remaining component of card
    revenues – other revenues – has generally
    declined. We generally experience seasonal growth in total
    operating revenues during the holiday period and during tax
    season due to increased sales of cards, increased reloads and
    increased card usage.
Our total operating expenses have generally increased
    sequentially in each of the quarters presented. The decline in
    total operating expenses and sales and marketing expenses
    between the quarters ended January 31 and April 30, 2009
    was due primarily to lower sales commission percentages
    coinciding with lower pricing on the Walmart MoneyCard effective
    mid-February 2009. We continued to benefit from these lower
    commission percentages in the quarters ended July 31 and
    October 31, 2009. Sales and marketing expenses increased
    between the quarters ended July 31 and October 31, 2009 as
    a result of new revenue-sharing arrangements with two of our
    largest retail distributors and increased packaging costs
    associated with the relaunch of our Green Dot branded card.
    Sales and marketing expenses will increase again significantly
    in May 2010 as the contractual sales commission percentage that
    we are obligated to pay Walmart returns to a level approximating
    where it was before the decrease in mid-February 2009.
    Processing expenses declined by 5.6% from the quarter ended
    October 31, 2008 to the quarter ended January 31, 2009
    due to lower fees charged to us under agreements with one of the
    banks that issue our cards and our third-party card processor
    that became effective in November 2008 and to more efficient use
    of our card processor. Other
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general and administrative expenses increased 22.8% between the
    quarters ended April 30, 2008 and July 31, 2008 primarily
    because we accrued a $500,000 legal reserve. This reserve was
    reversed in the quarter ended April 30, 2009 due to a
    favorable judgment during that period. Other general and
    administrative expenses increased 29.5% between the quarters
    ended July 31, 2009 and October 31, 2009 primarily because
    of a $1.5 million increase in professional service fees.
    This increase in professional service fees was primarily related
    to our potential bank acquisition.
Liquidity and
    Capital Resources
The following table sets forth the major sources and uses of
    cash for our last three fiscal years ended July 31 and for the
    three months ended October 31, 2008 and 2009:
Three Months Ended
Year Ended July 31,
October 31,
2007
2008
2009
2008
2009
(In thousands)
(unaudited)
Net cash provided by (used in) operating activities
$
2,461
$
35,006
$
35,297
$
(1,680
)
$
18,841
Net cash used in investing activities
(4,558
)
(5,163
)
(19,400
)
(1,229
)
(2,263
)
Net cash provided by (used in) financing activities
158
(3,264
)
(28,618
)
—
100
Net (decrease) increase in unrestricted cash and cash equivalents
$
(1,939
)
$
26,579
$
(12,721
)
$
(2,909
)
$
16,678
In fiscal 2007, 2008 and 2009 and the three months ended
    October 31, 2009, we financed our operations primarily
    through our cash flows from operations. At October 31,
    2009, our primary source of liquidity was unrestricted cash and
    cash equivalents totaling $43.2 million.
We use trend and variance analyses to project future cash needs,
    making adjustments to the projections when needed. We believe
    that our current unrestricted cash and cash equivalents and cash
    flows from operations will be sufficient to meet our working
    capital and capital expenditure requirements for at least the
    next twelve months. Thereafter, we may need to raise additional
    funds through public or private financings or borrowings. Any
    additional financing we require may not be available on terms
    that are favorable to us, or at all. If we raise additional
    funds through the issuance of equity or convertible debt
    securities, our existing stockholders could suffer significant
    dilution, and any new equity securities we issue could have
    rights, preferences and privileges superior to those of holders
    of our Class A common stock, including shares of our
    Class A common stock sold in this offering. No assurance
    can be given that additional financing will be available or
    that, if available, such financing can be obtained on terms
    favorable to our stockholders and us.
Cash Flows
    From Operating Activities
The $18.8 million of net cash provided by operating
    activities in the three months ended October 31, 2009
    resulted from $10.4 million of net income, the adjustment
    for non-cash operating expenses of $8.6 million (including
    $6.5 million for provisions for uncollectible overdrawn
    accounts, $1.3 million of depreciation and amortization and
    $712,000 of stock-based compensation), an increase of
    $6.2 million in income taxes payable, an increase of
    $1.5 million in amounts due to issuing banks for overdrawn
    accounts, and an increase of $1.5 million in accounts
    payable and accrued liabilities. These increases were partially
    offset by a $7.3 million increase in accounts receivable
    and a $1.5 million increase in prepaid expenses and other
    assets. The increase in our accounts receivable balance was
    primarily related to the increase in the number of our GPR cards
    outstanding that are not active cards but on which we charge a
    monthly maintenance fee. This increase was partially offset by a
    $6.5 million provision for uncollectible overdrawn accounts
    that increased the reserve held against the accounts receivable
    balance.
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Table of Contents
The $35.3 million of net cash provided by operating
    activities in fiscal 2009 resulted from $37.2 million of
    net income, the adjustment for non-cash operating expenses of
    $28.3 million (including $22.5 million for provisions
    for uncollectible overdrawn accounts, $4.6 million for
    depreciation and amortization and $2.5 million for
    stock-based compensation, partially offset by a
    $1.7 million deferred income tax benefit), a
    $3.2 million increase in accounts payable and accrued
    liabilities, a $2.3 million decrease in deferred expenses
    and a $1.4 million increase in income taxes payable. These
    were offset by a $29.9 million increase in accounts
    receivable and a $5.3 million decrease in the amounts due
    to issuing banks for overdrawn accounts. Although increases in
    accounts receivable are generally partially offset by increases
    in amounts due to issuing banks for overdrawn accounts, during
    the year ended July 31, 2009, we amended our agreement with
    one of our issuing banks, expediting the settlement timing of
    amounts due to them for overdrawn card accounts.
Our $35.0 million of net cash provided by operating
    activities in fiscal 2008 resulted from $17.3 million of
    net income, the adjustment for non-cash operating expenses of
    $21.9 million (including $16.1 million for provisions
    for uncollectible overdrawn accounts, $4.4 million for
    depreciation and amortization and $1.2 million for
    stock-based compensation), a $10.8 million increase in the
    amounts due to issuing banks for overdrawn accounts, a
    $4.7 million increase in accounts payable and accrued
    liabilities, a $4.4 million increase in deferred revenue
    and a $3.2 million increase in income taxes payable. These
    were partially offset by a $24.7 million increase in
    accounts receivable, a $2.8 million increase in deferred
    expenses and a $2.3 million increase in prepaid expenses
    and other assets.
Our $2.5 million of net cash provided by operating
    activities in fiscal 2007 resulted from $4.6 million of net
    income, the adjustment for non-cash operating expenses of
    $8.8 million (including $7.9 million for provision for
    uncollectible overdrawn accounts and $3.5 million for
    depreciation and amortization, partially offset by a
    $2.6 million deferred income tax benefit), a
    $3.9 million increase in the amounts due to issuing banks
    for overdrawn accounts and a $2.6 million increase in
    accounts payable and accrued liabilities. These were partially
    offset by an $11.0 million increase in accounts receivable,
    a $4.5 million decrease in income taxes payable, a
    $2.0 million decrease in deferred revenue.
Cash Flows
    From Investing Activities
Net cash used in investing activities in the three months ended
    October 31, 2009 consisted almost entirely of the purchase
    of property and equipment of $2.2 million. Net cash used in
    investing activities in fiscal 2009 consisted of the purchase of
    property and equipment of $6.4 million related to expanding
    our operations, including the development of internal-use
    software, which we capitalized, and a $13.0 million
    increase in restricted cash. In fiscal 2009, we renewed our line
    of credit, which is used to fund timing differences between
    funds remitted by our retail distributors to the banks that
    issue our cards and funds utilized by our cardholders, and
    elected to increase our restricted deposits to
    $15.0 million at the lending institution as collateral in
    order to reduce the commitment fees we would incur on this line
    of credit. Net cash used in investing activities in fiscal 2007
    and 2008 consisted primarily of the purchase of computer
    hardware and software and the development of internal-use
    software.
Cash Flows
    From Financing Activities
Our $100,000 of net cash provided by financing activities for
    the three months ended October 31, 2009 was entirely the
    result of the exercise of stock options. Our $28.6 million
    of net cash used in financing activities in fiscal 2009 was
    primarily associated with the redemption in full of our
    Series D redeemable preferred stock. We entered into an
    agreement in December 2008 with the sole holder of these
    securities to pay $39.2 million for an early redemption of
    all outstanding shares of our Series D redeemable preferred
    stock and the purchase of a call option on a common stock
    warrant held by this stockholder. In June 2009, we exercised the
    call option on the warrant for $2.0 million. We also
    received proceeds of $13.0 million related to the issuance
    of our
Series C-2
preferred stock in fiscal 2009. Net cash used in financing
    activities in fiscal 2008 was primarily associated with
    principal
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Table of Contents
payments on short-term debt of $2.4 million and net
    repayments on our line of credit of $2.5 million, offset by
    proceeds of $1.7 million from the exercise of options. Net
    cash provided by financing activities in fiscal 2007 was
    primarily associated with net borrowings on our line of credit
    of $2.5 million, offset by principal payments on short-term
    debt of $2.6 million. In fiscal 2007, we also issued
    Series D redeemable preferred stock and a freestanding
    warrant for total consideration of $20.0 million and used
    the proceeds to repurchase $20.0 million of common and
    preferred stock from our existing stockholders.
Contractual
    Obligations and Commitments
Our contractual commitments will have an impact on our future
    liquidity. The following table summarizes our contractual
    obligations, including both on-and off-balance sheet
    transactions that represent material expected or contractually
    committed future obligations, at July 31, 2009. We believe
    that we will be able to fund these obligations through cash
    generated from operations and from our existing cash balances.
Payments Due by Period
Total
Less Than 1 Year
1-3 Years
3-5 Years
More Than 5 Years
(In thousands)
Long-term debt obligations
$
—
$
—
$
—
$
—
$
—
Capital lease obligations
—
—
—
—
—
Operating lease obligations
4,911
1,692
2,932
287
—
Purchase obligations(1)(2)
601
601
—
—
—
Other long-term liabilities
—
—
—
—
—
Total
$
5,512
$
2,293
$
2,932
$
287
$
—
(1)
In September 2009, we renewed our processing services agreement
    with our third-party card processor through September 2012. The
    terms of this agreement include minimum monthly payments. In
    October 2009, we amended an existing contract with one of our
    retail distributors. The amendment calls for guaranteed payments
    to the retail distributor. At October 31, 2009, the minimum
    aggregate commitment under these agreements was as follows (in
    thousands):
Year Ending July 31,
2010
$
12,853
2011
16,883
2012
6,902
2013
125
Thereafter
—
Total
$
36,763
In the event we terminate our processing services agreement for
    convenience, we are required to pay a single lump sum equal to
    any minimum payments remaining on the date of termination.
(2)
In November 2009, we entered into a new agreement with an
    existing card issuing bank. The terms of the agreement include
    future minimum annual payments. The minimum aggregate commitment
    under this agreement was (in thousands):
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Year Ending July 31,
2010
$
1,440
2011
1,920
2012
1,920
2013
640
Thereafter
—
Total
$
5,920
Off-Balance Sheet
    Arrangements
During 2007, 2008 and 2009, we did not have any relationships
    with unconsolidated organizations or financial partnerships,
    such as structured finance or special purpose entities that
    would have been established for the purpose of facilitating
    off-balance sheet arrangements or other contractually narrow or
    limited purposes.
Critical
    Accounting Policies and Estimates
We prepare our consolidated financial statements in accordance
    with GAAP. The preparation of our consolidated financial
    statements requires our management to make estimates and
    assumptions that affect the reported amounts of assets,
    liabilities, revenues, costs and expenses and related
    disclosures. We base our estimates on historical experience,
    current circumstances and various other assumptions that our
    management believes to be reasonable under the circumstances. In
    many instances, we could reasonably use different accounting
    estimates, and in some instances changes in the accounting
    estimates are reasonably likely to occur from period to period.
    Accordingly, actual results could differ significantly from the
    estimates made by our management. To the extent that there are
    differences between our estimates and actual results, our future
    financial statement presentation, financial condition, results
    of operations and cash flows will be affected. We believe that
    the accounting policies discussed below are critical to
    understanding our historical and future performance, as these
    policies relate to the more significant areas involving
    management's judgments and estimates.
Revenue
    Recognition
We recognize revenue when the price is fixed or determinable,
    persuasive evidence of an arrangement exists, the product is
    sold or the service is performed, and collectibility of the
    resulting receivable is reasonably assured.
We defer and recognize new card fee revenues on a straight-line
    basis over the period commensurate with our service obligation
    to our customers. We consider the service obligation period to
    be the average card lifetime. We determine the average card
    lifetime for each pool of homogeneous products (e.g., products
    that exhibit the same characteristics such as nature of service
    and terms and conditions) based on company-specific historical
    data. Currently, we determine the average card lifetime
    separately for our GPR cards and gift cards. For our GPR cards,
    we measure the card lifetime as the period of time, inclusive of
    reload activity, between the activation date of a card and the
    date of the last positive balance on that card. We analyze GPR
    cards activated between six and forty-two months prior to each
    balance sheet date. We use this historical look-back period as a
    basis for determining our average card lifetime because it
    provides sufficient time for meaningful behavioral trends to
    develop. Currently, our GPR cards have an average card lifetime
    of nine months. The usage of gift cards is limited to the
    initial funds loaded to the card. Therefore, we measure these
    gift cards' lifetime as the redemption period over which
    cardholders perform the substantial majority of their
    transactions. Currently, gift cards have an average lifetime of
    six months. Average card lifetimes may vary in the future as
    cardholder behavior changes relative to historical experience as
    customers are influenced by changes in the pricing of our
    services, the availability of substitute products, and other
    factors.
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We also defer and expense commissions paid to retail
    distributors related to new card sales ratably over the average
    card lifetime, which is currently nine months for our GPR cards
    and six months for gift cards.
We report our different types of revenues on a gross or net
    basis based on our assessment of whether we act as a principal
    or an agent in the transaction. To the extent we act as a
    principal in the transaction, we report revenues on a gross
    basis. In concluding whether or not we act as a principal or an
    agent, we evaluate whether we have the substantial risks and
    rewards under the terms of an arrangement, whether we are the
    party responsible for fulfillment of the services purchased by
    the cardholders, and other factors. For all of our significant
    revenue arrangements, including GPR and gift cards, we recognize
    revenue on a gross basis.
Generally, customers have limited rights to a refund of the new
    card fee or a cash transfer fee. We have elected to recognize
    revenues prior to the expiration of the refund period, but
    reduce revenues by the amount of expected refunds, which we
    estimate based on actual historical refunds.
Reserve for
    Uncollectible Overdrawn Accounts
Cardholder account overdrafts arise from fee assessments or from
    purchase transactions that we honor, in each case in excess of
    the funds in the cardholder's account. We are responsible
    to our issuing banks for any losses associated with these
    overdrafts. Overdrawn account balances are therefore deemed to
    be our receivables due from cardholders. Our card issuing banks
    fund the overdrawn accounts on our behalf, and we settle our
    obligations to them with respect to cardholder account
    overdrafts based on the terms specified in their agreements with
    us. We generally recover overdrawn account balances for some
    cardholders when a customer performs a reload transaction. In
    some cases, purchase transaction overdrafts are recovered
    through enforcement of the payment network rules, which allow us
    to recover the amounts from the merchant where the purchase
    transaction was conducted.
We are exposed to losses from unrecovered cardholder account
    overdrafts. We establish a reserve for uncollectible overdrawn
    accounts for both fees assessed and purchase transactions in
    excess of a cardholder's account balance. The reserve for
    uncollectible overdrawn accounts represents our estimate of the
    portion of these receivables that will not be recovered. We base
    our estimate of the reserve upon historical overdraft recovery
    rates and our judgment regarding the overall adequacy of the
    reserve. We believe our historical recovery rates are predictive
    of future events because these rates have remained consistent
    for several years. Our recovery rates may change in the future
    in response to factors such as the pricing of reloads and new
    cards and the availability of substitute products.
When a cardholder account has more than 90 days of
    inactivity, we consider the probability of recovery to be remote
    and we write off the full amount of the overdrawn account
    balance. We include our provision for uncollectible overdrawn
    accounts related to fees as an offset to card revenues in our
    consolidated statements of operations. We include our provision
    for uncollectible overdrawn accounts related to purchase
    transactions as other general and administrative expenses in our
    consolidated statements of operations.
Stock-Based
    Compensation
Effective August 1, 2006, we adopted a new accounting
    standard related to stock-based compensation. We adopted the new
    standard using the prospective transition method, which required
    us to recognize compensation expense on a prospective basis for
    stock options and stock awards granted, modified, repurchased or
    cancelled on or after August 1, 2006. We record
    compensation expense using the fair value method of accounting.
    For stock options, we base compensation expense on the option
    fair values estimated at the grant date using the Black-Scholes
    option-pricing model. For other stock awards, we base
    compensation expense on the per share fair value of the stock
    estimated at the grant date. We recognize compensation expense
    for awards with only service conditions that have graded vesting
    schedules on a straight-line basis over their respective vesting
    periods. Vesting is based upon continued service to our company.
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Determining the fair value of stock options requires the use of
    highly subjective assumptions, including the expected term of
    the option award and our expected stock price volatility. Our
    assumptions, with respect to grants during the past twelve
    months shown by grant date in the table below, represent our
    best estimates, but these estimates involve inherent
    uncertainties and the application of judgment. If factors change
    and, as a result, we use different assumptions, our stock-based
    compensation could be materially different in the future.
Expected
Term of
Risk-Free
Option
Expected
Expected Stock
Interest Rate
(in Years)
Dividends
Price Volatility
March 19, 2009
1.9
%
6.08
—
56.0
%
June 9, 2009
3.1
6.08
—
57.0
August 3, 2009
2.9
6.08
—
56.0
November 2, 2009
2.5
6.08
—
46.0
February 4, 2010
2.6
6.08
—
52.0
The following table summarizes information by grant date for the
    stock options that we granted during the preceding
    12 months:
Per Share
Per Share Estimated
Number of
Fair Value of
Weighted Average
Shares Subject to
Per Share Exercise
Our Common
Fair Value of
Options Granted
Price of Options
Stock
Options
March 19, 2009
50,000
$
10.84
$
10.84
$
5.83
June 9, 2009
85,800
15.65
15.65
8.80
August 3, 2009
127,500
17.19
17.19
9.62
November 2, 2009
1,261,750
20.01
20.01
9.47
February 4, 2010
130,500
25.00
25.00
12.98
Additionally, in December 2009, we granted a 257,984 share
    common stock award. The grant date fair value of our common
    stock at the date of this award was $20.01 per share.
On each of the above dates, we granted our employees stock
    options at exercise prices equal to the estimated fair value of
    the underlying common stock, as determined by our board of
    directors with input from management and an independent
    valuation firm on a contemporaneous basis. Because there was no
    public market for our common stock, our board of directors
    determined the fair value of our common stock by considering a
    number of objective and subjective factors including:
•
the per share value of any recent preferred stock financing and
    the amount of convertible preferred stock liquidation
    preferences;
•
any third-party trading activity in our common stock or
    preferred stock;
•
the illiquid nature of our common stock, including the
    opportunity for any future liquidity events;
•
our current and historical operating performance and current
    financial condition;
•
our operating and financial projections;
•
our achievement of company milestones;
•
the stock price performance of a peer group comprised of
    selected publicly-traded companies identified as being
    comparable to us; and
•
economic conditions and trends in the broad market for stocks.
Our board of directors considered and applied these and other
    factors in determining the fair value of our common stock on
    each stock option grant date. We have used these fair market
    valuations to estimate the fair value of our common stock on the
    date of grant and in calculating our stock-based compensation
    expense. Our valuations for each grant date in the past
    12 months are described in detail below.
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Table of Contents
Stock Option Grants on March 19, 2009.
On
    December 19, 2008, we issued 1,181,816 shares of
Series C-2
convertible preferred stock at a price of $11.00 per share and
    we redeemed 2,926,458 shares of Series D convertible
    preferred stock at a price of $13.38 per share.
We completed a valuation analysis using two equity allocation
    methods − the option-pricing method, or OPM, and the
    probability-weighted expected returns method, or
    PWERM − to derive values for our preferred stock, our
    common stock and the overall enterprise.
The value of each security and the enterprise was determined in
    the OPM relative to the proposed sale price of our
Series C-2
convertible preferred stock. In the OPM, the value of each
    security was determined using the Black-Scholes formula,
    assuming a time to liquidity of 2.8 years, an asset
    volatility of 50%, and a risk-free interest rate commensurate
    with the estimated time to liquidity of 1.2%. Because the
    Series D convertible preferred stock contained unique and
    complex redemption features that increased the difficulty and
    subjectivity in determining its value, we considered its
    redemption value to be less reliable as an input into the OPM in
    deriving an overall enterprise value.
We also utilized a PWERM that contemplated two
    scenarios − a remain-private scenario and a future
    liquidity event scenario. We derived our value under the
    remain-private scenario by discounting projected future cash
    flows to their present value as of the grant date using a 20.0%
    discount rate. This rate was determined based on an estimated
    weighted-average cost of capital derived from our estimated cost
    of equity, our after-tax cost of debt, and the
debt-to-equity
ratio implied by the valuation. Our cost of capital was based on
    publicly available information for companies in lines of
    business that are the same or similar to ours.
We estimated high and low future enterprise values under the
    PWERM future liquidity event scenario using high- and low-case
    financial projections and market-based valuation multiples
    derived from publicly traded peer group companies, transactions
    involving businesses that are similar to our company, and
    valuation multiples implied by the issuance of
Series C-2
preferred stock. We allocated the future enterprise values to
    options, warrants and various series of preferred stock based on
    their future liquidation preferences or conversion values,
    whichever would be greater, and allocated the remainder to our
    common stock. The allocated value was discounted to present
    value at the grant date. In the final analysis, we weighted the
    remain-private and future liquidity event scenarios equally as
    the likelihood of either scenario was difficult to forecast with
    reliability. We weighted the value indications determined under
    the low- and high-case cash flow projections by 75.0% and 25.0%,
    respectively. We weighted the indications of the fair value of
    our common stock under the two equity allocation
    methods − OPM and PWERM − 75.0% and 25.0%,
    respectively, because of the level of subjectivity inherent in
    the PWERM as a result of the continued turmoil in the public and
    private markets and the uncertainty at the time as to when a
    potential liquidity event could occur for our company.
Based on this analysis, our board of directors determined that
    the estimated fair value of our common stock at March 19,
    2009 was $10.84 per share on a minority, nonmarketable basis.
Stock Option Grants on June 9, 2009.
For
    the June 9, 2009 valuation, we determined that the
    uncertainty surrounding the timing of a liquidity event had
    increased the level of subjectivity in the PWERM to the point
    where that methodology was no longer considered appropriate.
    Therefore, we utilized only the OPM equity allocation method.
We calculated values for our securities in the OPM using the
    Black-Scholes formula, assuming a time to liquidity of
    2.6 years, an asset volatility of 55.0%, and a risk-free
    interest rate commensurate with the estimated time to liquidity
    of 1.3%. We continued to estimate the enterprise value by
    discounting high- and low-case cash flow projections to present
    value as of the grant dates using a 20.0% discount rate and
    through the application of valuation multiples derived from
    publicly traded companies engaged in lines of business that were
    the same or similar to ours. Although we continued to weigh the
    low- and high-case cash flow projections by 75.0% and 25.0%,
    respectively, as of June 9, 2009, the enterprise value
    increased as progress toward attaining the high cash flow
    projections was made. Additionally, the value implied by the
    public company guideline methodology increased due to
    improvement in valuation multiples from increasing stock prices
    for our peer group public companies.
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Based on this analysis, our board of directors determined that
    the estimated fair value of our common stock at March 19,
    2009 was $15.65 per share on a minority, nonmarketable basis.
Stock Option Grants on August 3,
    2009.
For the August 3, 2009 valuation, we
    continued to use only the OPM with the Black-Scholes formula to
    calculate the value of our securities, assuming a time to
    liquidity of 2.4 years, an asset volatility of 56.0%, and a
    risk-free interest rate commensurate with the estimated time to
    liquidity of 1.2%.
Continued progress toward the high-case cash flow scenario and
    continued improvements in our peer group public company market
    factors were reflected in the underlying enterprise value,
    resulting in an increase in the estimated fair value of our
    common stock value relative to the prior grant date.
Based on this analysis, our board of directors determined that
    the estimated fair value of our common stock at August 3,
    2009 was $17.19 per share on a minority, nonmarketable basis.
Stock Option Grants on November 2,
    2009.
In October 2009, certain existing and
    third-party investors entered into a tentative agreement,
    whereby the investors extended an offer to purchase
    3,250,000 shares of our common stock, at a price of $20.05
    less applicable selling fees, directly from our existing
    stockholders. On November 9, 2009, the offering closed and
    existing stockholders sold 3,000,000 shares of our common
    stock at a price of $20.01 per share.
Our board of directors considered the offering to be the most
    reliable estimate of the fair value of our common stock given
    that the transaction was an orderly purchase and sale among
    parties that had reasonable knowledge of relevant facts and that
    were not under any compulsion to buy or sell the securities.
Based on these facts, our board of directors determined that the
    estimated fair value of our common stock at November 2,
    2009 was $20.01 per share on a minority, nonmarketable basis.
Stock Option Grants on February 4,
    2010.
In December 2009, an existing stockholder
    transferred 400,000 shares of Series C and C-1
    preferred stock for consideration of $25.00 per share to another
    existing stockholder. Our board of directors considered this
    transaction to be a reliable estimate of the fair value of our
    common stock given that the transaction was an orderly purchase
    and sale among parties that had reasonable knowledge of relevant
    facts and that were not under any compulsion to buy or sell the
    securities. Additionally, the liquidation preference of
    Series C and C-1 preferred stock sold was equal to $1.07
    per share. Relative to the purchase price of $25.00, the
    preferred stock conversion option value was deeply
in-the-money
and implied no premium over common stock.
Based on these facts, our board of directors determined that the
    estimated fair value of our common stock at February 4,
    2010 was $25.00 per share on a minority, nonmarketable basis.
Recent Accounting
    Pronouncements
In June 2009, the Financial Accounting Standards Board, or FASB,
    approved the Accounting Standards Codification, or ASC, as the
    single source of authoritative accounting and reporting
    standards for all nongovernmental entities, with the exception
    of guidance issued by the SEC and its staff. The FASB ASC is
    effective for interim or annual periods ending after
    September 15, 2009. All existing accounting standards have
    been superseded, and all accounting literature not included in
    the FASB ASC is considered non-authoritative. Our adoption of
    FASB ASC did not have an impact on our consolidated financial
    statements because it only amends the referencing to existing
    accounting standards.
In May 2009, the FASB issued a new standard for disclosing
    events that occur after the balance sheet date but before the
    financial statements are issued or are available to be issued.
    Additionally, the standard requires companies to disclose
    subsequent events as defined in the standard and to disclose the
    date through which we have evaluated subsequent events. The
    standard is effective for interim and annual periods ending
    after June 15, 2009. Our adoption of the standard did not
    have a material impact on our consolidated financial statements.
    See note 16 of our notes to consolidated financial
    statements.
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In April 2009, the FASB issued a new accounting standard that
    requires us to include fair value disclosures of financial
    instruments for each interim and annual period for which
    financial statements are prepared. Our adoption of the standard
    did not have a material impact on our consolidated financial
    statements. See note 8 of our notes to consolidated
    financial statements.
In June 2008, the FASB issued a new accounting standard on
    determining whether instruments granted in share-based payment
    transactions are participating securities prior to vesting and
    therefore need to be included in the earnings allocation in
    calculating earnings per share under the two-class method.
    Unvested share-based payment awards that have non-forfeitable
    rights to dividend or dividend equivalents are treated as a
    separate class of securities in calculating earnings per share.
    The standard is effective for fiscal years beginning after
    December 15, 2008; earlier application was not permitted.
    Our adoption of the standard did not have a material effect on
    our results of operations or earnings per share.
Quantitative and
    Qualitative Disclosures About Market Risk
Market risk is the potential for economic losses from changes in
    market factors such as foreign currency exchange rates, credit,
    interest rates and equity prices. We believe that we have
    limited exposure to risks associated with changes in foreign
    currency exchange rates, interest rates and equity prices. We
    have no foreign operations, and we do not transact in foreign
    currencies. We do not hold or enter into derivatives or other
    financial instruments for trading or speculative purposes. We do
    not consider our cash and cash equivalents to be subject to
    interest rate risk due to their short periods of time to
    maturity.
We do have exposure to credit risk associated with the financial
    institutions that hold our cash, cash equivalents and restricted
    cash and our settlement assets due from our retail distributors
    that collect funds and fees from our customers. We manage the
    credit risk associated with our cash and cash equivalents by
    maintaining an investment policy that limits investments to
    highly liquid funds with certain highly rated financial
    institutions. Our policy also limits the investment
    concentration that we may have with a single financial
    institution. We monitor compliance with our investment policy on
    an ongoing basis, including quarterly communication with our
    audit committee.
We also have exposure to credit risk associated with our retail
    distributors, but that exposure is limited due to the short time
    period, currently an average of three days, that the retailer
    settlement asset is outstanding. We perform an initial credit
    review of each new retail distributor prior to signing a
    distribution agreement with it, and then monitor its financial
    performance on a periodic basis. We monitor each retail
    distributor's settlement asset exposure and its compliance
    with its specified contractual settlement terms on a daily basis.
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BUSINESS
Overview
Green Dot is a leading prepaid financial services company
    providing simple, low-cost and convenient money management
    solutions to a broad base of U.S. consumers. We believe
    that we are the leading provider of general purpose reloadable
    prepaid debit cards in the United States and that our Green Dot
    Network is the leading prepaid reload network in the United
    States. We sell our cards and offer our reload services
    nationwide at approximately 50,000 retail stores, which provide
    consumers convenient access to our products and services. Our
    proprietary technology platform, Green PlaNET, enables real-time
    transactions in a secure environment. The combination of our
    innovative products, broad retail distribution and proprietary
    technology creates powerful network effects, which we believe
    enhance the value we deliver to our customers, retail
    distributors and other participants in our network.
We have designed our products and services to appeal primarily
    to consumers living in households that earn less than $75,000
    annually across the following four segments:
•
Never-banked – households in which no one has ever had
    a bank account;
•
Previously-banked – households in which at least one
    member has previously had a bank account, but no one has one
    currently;
•
Underbanked – households in which at least one member
    currently has a bank account, but that also use non-bank
    financial service providers to conduct routine transactions like
    check cashing or bill payment; and
•
Fully-banked – households that primarily rely on
    traditional financial services.
We were an early pioneer in the development of prepaid financial
    services in the United States. In May 2001, we sold our first
    basic prepaid card with simple loading and spending
    functionality targeted at low income and never-banked consumers.
    As we have grown and our technological capabilities have
    increased, we have broadened our offerings and their
    functionality to provide consumers access to products and
    services with a more comprehensive set of features. These
    products and services now also appeal to more affluent
    underbanked and fully-banked consumers who do not feel well
    served by and cannot justify the cost and complexity of
    traditional banking products and payment cards, have limited
    access to credit, or find traditional bank policies and fee
    schedules ill-suited to their needs.
We believe we are the leading provider of GPR cards in the
    United States. GPR cards are designed for general spending
    purposes and can be used anywhere the cards' applicable
    payment network, such as Visa or MasterCard, is accepted. Unlike
    gift cards, GPR cards are reloadable for ongoing, long-term use
    and require the completion of various identification,
    verification and other USA PATRIOT Act-compliant processes
    before a cardholder relationship can be established. As of
    October 31, 2009, we had approximately 2.4 million
    active cards, that is, cards that had had at least one purchase
    transaction, reload transaction or ATM withdrawal during the
    previous
90-day
period. In fiscal 2009, the gross dollar volume loaded on our
    cards was $4.7 billion, an increase of 66% over fiscal 2008.
We distribute our products and services at the retail locations
    of large national and regional chains throughout the United
    States and through the Internet. We have built strong
    distribution and marketing relationships with many significant
    retail chains including Walmart, Walgreens, CVS, Rite Aid,
    Kroger, Radio Shack, Kmart, Meijer and 7-Eleven. We market our
    products under our Green Dot brand and through a number of
    co-branded GPR card programs that we operate for retailers and
    other business entities.
We believe the Green Dot Network is the leading reload network
    for prepaid cards in the United States. Consumers can purchase
    our MoneyPak product at any retail location to reload cash onto
    our cards or cards issued under more than 100 third-party
    programs. Furthermore, PayPal has recently become a Green Dot
    Network acceptance member, enabling PayPal customers to use a
    MoneyPak to fund a new or existing PayPal account.
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Our centralized technology platform, Green PlaNET, connects all
    network participants, which include consumers, retail
    distributors and businesses that accept reloads or payments
    through the Green Dot Network, enabling real-time transactions
    across the Green Dot Network through a single and secure point
    of integration and connectivity. This enables us to develop,
    distribute and support a variety of products and services
    effectively. Green PlaNET contains a variety of proprietary
    software applications, which run our front-end, back-end,
    anti-fraud, regulatory compliance and customer service
    processing systems.
For the years ended July 31, 2007, 2008 and 2009 and the
    three months ended October 31, 2009, our total operating
    revenues were $83.6 million, $168.1 million,
    $234.8 million and $66.3 million, respectively. In the
    same periods, we generated operating income of
    $1.2 million, $29.2 million, $63.7 million and
    $17.9 million, respectively.
Industry
    Background
New technologies and product innovations have expanded the
    way financial services are sold and used.
Over the past 40 years, technological advances in
    telecommunications, software and data processing have spurred
    innovations both in the types of financial products and services
    that are available and in the ways that they are distributed in
    the marketplace and used by consumers. Innovations such as ATMs
    and the Internet have enhanced consumers' access to their
    demand deposit accounts, while innovations such as credit, ATM
    and debit cards and electronic checks have permitted new methods
    of payment – each providing consumers with
    alternatives to cash and traditional financial products and
    services – that offer greater convenience and ease.
    These innovations contributed to an increase of approximately
    78% in the number of electronic payment transactions in the
    United States from 2000 to 2005 and, we believe, are a major
    reason that electronic payment transactions have represented the
    majority of all payment transactions annually since 2005. Over
    the past few years, a new series of innovative products and
    technologies have been increasingly adopted. Certain products,
    such as prepaid cards, prepaid electronic wallets and prepaid
    mobile payments, are enabling the distribution of fast, safe and
    low-cost alternative financial services in non-bank locations.
Prepaid cards represent a large and rapidly growing
    segment within the electronic payments industry.
Prepaid cards have emerged as an attractive product within the
    electronic payments industry. They are easy for consumers to
    understand and use because they work in a manner similar to
    traditional debit cards, allowing the cardholder to use a
    conventional plastic card linked to an account established at a
    financial institution. The consumer determines the card's
    spending limit by adding money directly to the account, and can
    reload the card with additional funds as needed. The consumer
    can access the funds on the card at ATMs
and/or
the
    point of sale in retail locations using signature identification
    technologies or a personal identification number. Prepaid cards
    and related services offer consumers tremendous flexibility,
    convenience and spending control. The Mercator Advisory Group
    estimates that the total load volume in the United States for
    prepaid cards, excluding single merchant, or "closed
    loop," cards, will grow at a 48.3% compound annual growth
    rate from 2008 to 2012 and exceed $291 billion in 2012. We
    believe this rapid growth results from improving underlying
    technology, increasing adoption by a broader group of consumers,
    increasing convenience, declining costs and increasing product
    choices and capabilities that prepaid cards offer. Visa Inc.
    estimates that the U.S. prepaid opportunity, defined as the
    total dollars spent by the total estimated prepaid card target
    audience, was $2.03 trillion in 2009, and that 56% of this
    amount could potentially have been loaded on U.S. prepaid
    cards in 2009.
Prepaid cards and related services are currently offered
    by a wide array of specialized and partially integrated
    vendors.
Although many large and well-established vendors provide
    elements of prepaid cards and related services, the prepaid card
    industry is fragmented. Vendors generally do not have a broad
    set of product
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and service offerings or capabilities, and no single vendor
    currently provides all of the elements that are necessary to
    establish and operate a prepaid card program. Existing vendors
    include:
•
Issuing Banks
– Banks that are authorized by
    payment networks to issue cards and that provide accounts to
    hold deposits. Many issuing banks also manage settlement and
    provide risk management services. A bank's participation in
    a prepaid card program can range from actively managing and
    marketing the card program to providing passive sponsorship into
    payment networks.
•
Payment Networks
– companies, such as Visa and
    MasterCard, that facilitate
point-of-sale
card acceptance, provide purchase and withdrawal transaction
    routing and processing between merchant acquirers and card
    issuing banks, perform certain clearing and settlement functions
    and provide marketing and support services to card issuing
    banks. Payment networks also establish network rules and
    establish processing and security standards and customer
    protections to which all participating members must adhere.
•
Processors
– technology vendors that provide
    connectivity to payment networks, maintain account balances, and
    authorize purchase and withdrawal transactions. Many processors
    provide additional services, including card activation and
    customer service, and develop
and/or
integrate value-added cardholder applications such as online
    bill payment, microlending and mobile payment services.
•
Program Managers
– specialized vendors that
    design, manage, market and operate prepaid card programs.
    Prepaid card program managers may provide a range of services or
    delegate that provision to other specialized vendors, such as
    issuing banks, processors and distributors, and collaborate with
    them as these programs are implemented. Prepaid card program
    managers may also negotiate the allocation of fees and risk
    management with all vendors involved in a particular prepaid
    card program.
•
Distributors
– organizations, such as
    retailers, remittance vendors, tax preparers, check cashers,
    payday lenders, card resellers and employers, that distribute
    cards through various sales channels and may also manage
    inventory fulfillment and provide
point-of-sale
integration and technology.
•
Reload Networks
– vendors that provide products
    and services, connectivity, technology and integration, which
    enable
point-of-sale
locations to accept cash payments and associate those payments
    with a specific account. These vendors also provide transaction
    routing and processing between the point of sale and the
    destination of the fund transfer. A small number of reload
    networks have proprietary brands, acceptance locations and
    technology, while most take advantage of the brands, technology
    and
point-of-sale
relationships of other third-party vendors.
Prepaid financial services is a large and rapidly growing
    segment within the prepaid card industry.
Prepaid financial services, which includes GPR cards and
    associated reload services, is currently among the largest and
    fastest-growing segments within the prepaid card industry. The
    GPR card category has benefited from the expanding breadth of
    applications for GPR cards and the ease with which they can be
    acquired. According to Mercator Advisory Group's
    "Prepaid Market Forecast 2009 to 2012" research
    report, $8.7 billion was loaded onto GPR cards in the
    United States in 2008 and $118.5 billion was loaded onto
    GPR cards in the United States in 2012, reflecting a 92%
    compound annual growth rate during that four-year period. We
    believe increasing growth in the use of GPR cards will
    contribute to a substantial increase in the demand for related
    services, including reload services.
Prepaid financial services are evolving as providers
    develop new ways of offering financial services.
The products offered by prepaid financial service providers are
    relatively early in their lifecycles. We believe that the
    flexibility, accessibility and low cost of prepaid financial
    services will lead to many new, attractive payment applications
    outside of traditional banking channels. By virtue of their
    broad acceptance and the flexibility they provide, GPR cards
    offer safe, reliable, low-cost financial services
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to a broad spectrum of U.S. consumers who do not feel well
    served by and cannot justify the cost of traditional banking
    products.
Our Competitive
    Strengths
Our combination of innovative products and marketing expertise,
    a known brand name, a nationwide retail distribution presence
    and a proprietary technology platform supports our network-based
    business model and has enabled us to become a leading provider
    of prepaid financial services in the United States. Our
    strengths include:
Innovative
    Product and Marketing Expertise
We are an innovator in the development, merchandising and
    marketing of prepaid financial services. Our consumer focus has
    helped us to develop solutions for people who, prior to the
    existence of our products, either had to settle for an
    ill-suited banking relationship or, more often, simply opted out
    of the financial mainstream and resorted to using check cashers,
    payday lenders and cash. We believe we were the first company to
    combine the products, technology platform and distribution
    channel required to make retailer-distributed GPR cards a viable
    product offering. We subsequently built our reload network, and
    have recently expanded it to facilitate cash loading of online
    accounts like PayPal. We also successfully incorporated
    traditional bank account style "online bill pay" on
    our GPR cards and launched a large-scale "instant
    issue" program, whereby the Visa or MasterCard-branded GPR
    card is enclosed in the package on the in-store display. Our
    consumer focus has also led us to enhance the packaging and
    product displays in retail locations to educate consumers and
    promote our products and services more efficiently. In addition,
    we believe we have the strongest brand in the prepaid financial
    services industry, and we continue to build brand awareness
    using national television advertising.
Leading Retail
    Distribution
We have established a nationwide retail distribution network,
    consisting of approximately 50,000 retail store locations, which
    gives us access to the vast majority of the
    U.S. population. According to Scarborough Research, during
    the twelve months ended October 31, 2009, at least 93% of
    U.S. households shopped at one or more of the stores of our
    current retail distributors. We have built distribution
    relationships with Walmart, CVS and Kroger, three of the five
    largest retailers in the United States, and major chains like
    Walgreens, Rite Aid, Radio Shack, Kmart, Meijer and 7-Eleven. In
    general, our contracts with retail distributors provide us with
    exclusivity relating one or more of the following: reloading GPR
    cards, selling GPR cards in their stores and providing specific
    co-branded card programs.
Establishing distribution relationships requires significant
    investments, complex integrations and large support
    infrastructures from providers and distributors. As a result, we
    believe our broad and established retail distribution network
    serves as one of our key competitive advantages and a
    significant barrier to entry for potential competitors.
Leading Reload
    Network in the United States
We believe the Green Dot Network is the leading reload network
    for prepaid cards in the United States. By purchasing our
    MoneyPak reload products at any of our distributors' retail
    locations, consumers can access the Green Dot Network and use it
    for a wide variety of transactions, including cash loading onto
    prepaid cards and PayPal accounts. Although a substantial
    majority of the transactions on our reload network are
    associated with our cards, the transaction volume from
    third-party card portfolios has grown significantly as over 100
    third-party prepaid programs now use the Green Dot Network for
    card reloading services. Recent innovations, like our
    relationship with PayPal, have also expanded our transaction
    volume and consumers' familiarity with the Green Dot brand.
    While our reload network today is used primarily for cash
    loading of prepaid cards and cash loading of PayPal accounts, we
    believe that it can be expanded and adapted to many new and
    evolving applications in the electronic payments industry.
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Proprietary
    Technology Platform
Green PlaNET, our centralized technology platform, enables our
    network participants to engage in real-time transactions across
    the Green Dot Network and enables the effective development,
    distribution and support of a variety of products and services.
    Green PlaNET contains a variety of proprietary software
    applications that run our front-end, back-end, anti-fraud,
    regulatory compliance and customer service processing systems.
    Green PlaNET gives us the ability to centrally develop and
    distribute product applications, manage customer accounts,
    authorize, process and settle transactions, enable security and
    regulatory compliance, and provide customer services through the
    Internet, IVR, call centers, mobile applications and email. In
    addition, Green PlaNET enables network participants to easily
    communicate and complete transactions, such as card purchases,
    reloads and bill payments, across our network using a variety of
    services and
point-of-sale
technologies, and is a central component of our network-based
    business model.
Business Model
    with Powerful Network Effects
The combination of our broad group of products and services,
    large portfolio of active cards, nationwide footprint of retail
    distributors and proprietary technology platform creates
    powerful network effects. Growth in the number of products and
    services that we offer or in the number of network participants
    enhances the value we deliver to all network participants. For
    example, we are able to attract retail distributors because of
    the large number of consumers who actively use our reload
    network. This network effect helps us continue to grow our
    cardholder base and expand our business. We believe the breadth
    and depth of our network would be difficult to replicate and
    represents a significant competitive advantage, as well as a
    barrier to entry for potential competitors.
Vertical
    Integration
We believe that we are more vertically integrated than our
    competitors, based on our distribution capabilities, processing
    platform, program management skills and proprietary reload
    network. This integration has allowed us to reduce costs across
    our operations, and we expect it will continue to provide us
    with opportunities to reduce operational costs in the future. It
    also enables us to scale our business quickly in response to
    rising demand and to ensure high-quality service for our
    customers.
Strong
    Regulatory and Compliance Infrastructure
We employ a proactive approach to licensing, regulatory and
    compliance matters, which we believe provides us with an
    important competitive advantage. We maintain an ongoing dialogue
    with the various governmental authorities that oversee the
    prepaid financial services industry. We believe that our
    pro-consumer orientation and regulatory focus have enabled us to
    develop strong relationships with leading retailers and
    financial institutions and have also prepared us well for
    changes in the regulatory environment.
Our Strategy for
    Growth
The key components of our strategy include:
Increasing the
    Number of Network Participants
We intend to enhance the network effects in our business model
    by:
•
Attracting new users by introducing new products, improving
    current products to address consumers' current and evolving
    needs, and building demand for our offerings through promotions;
•
Expanding and strengthening our distribution by establishing
    relationships with additional high-quality retail chains,
    increasing online distribution of our products and accelerating
    our entry into new distribution channels, including
    collaborating with third-party service providers, such as
    electronic tax preparation providers; and
•
Adding network acceptance members to and applications for the
    Green Dot Network by continuing to enroll additional third-party
    prepaid card program providers that want to offer their
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cardholders access to our reload network and to identify
    additional uses for our reload network's cash transfer
    technology.
Increasing
    Revenue per Customer
We intend to pursue greater revenue per customer by improving
    cardholder retention, increasing card usage and cross-selling
    complementary products and services. Our historical card usage
    patterns suggest that consumers who reload additional funds onto
    their cards within three months of activation tend to have
    significantly higher levels of transaction activity and generate
    more cash transfer and interchange revenues for us than those
    who do not. Therefore, we intend to target improved cardholder
    retention by offering incentives, such as fee waivers for
    specified reload amounts or activities, to encourage cardholders
    to reload additional funds onto their cards and extend their
    relationships with us. We also intend to add new services, such
    as additional reload options and new mobile applications that
    enable convenient use of our products and services, to make our
    products more valuable to consumers.
Improving
    Operating Efficiencies
We intend to leverage our growing scale and vertical integration
    to generate incremental operating efficiencies. As we continue
    to expand our business operations, we plan to reduce our
    marginal operating costs by continuing to implement rigorous
    cost-containment programs, purchase vendor services from
    low-cost providers and reduce the use of outsourced services
    that can be provided internally at lower cost. For example, we
    intend to improve our self-service offerings so that customers
    can obtain automated customer service through our website, IVR
    or mobile applications. Additionally, some of our current vendor
    agreements include pricing structures that call for reduced
    pricing as our customer usage volumes grow. These cost savings
    will provide us with the flexibility to engage in new marketing
    programs, reduce pricing and make other investments in our
    business to maintain our leadership position.
Broadening
    Brand and Product Awareness
We intend to broaden awareness of the Green Dot brand, which we
    believe is the leading national brand in prepaid financial
    services, and of our products and services through national
    television advertising, online advertising and ongoing
    enhancements to our packaging and merchandising. We plan to
    reinforce and strengthen perceptions of the key attributes of
    the Green Dot brand, which we believe are trust, security,
    convenience and simplicity. We also will continue to educate
    consumers, retail distributors and network acceptance members on
    the functionality, convenience and cost advantages of our
    products and services.
Acquiring
    Complementary Businesses
We intend to pursue acquisitions that will help us achieve our
    strategic objectives. We intend to acquire companies that have
    the potential to enhance the distribution of our products and
    services through either existing or new channels. We also intend
    to pursue acquisitions that have the potential to augment the
    features and functionality of our existing products and services
    or to provide complementary products and services that can be
    sold through our existing distribution channels. There are many
    prepaid financial services providers and the market remains
    fragmented, which we believe will provide us with acquisition
    opportunities over time.
Our Bank
    Acquisition Strategy
In February 2010, we entered into a definitive agreement to
    acquire a bank holding company and its subsidiary commercial
    bank, and filed applications with the appropriate federal and
    state regulators seeking approvals for this transaction. This
    acquisition is subject to standard closing conditions, including
    regulatory approval. Upon consummation of the acquisition, we
    will become a bank holding company regulated by the Federal
    Reserve Board. While there can be no assurance that we will
    obtain these approvals or our bank acquisition will close, we
    currently expect to complete this acquisition in the second or
    third quarter of calendar 2010.
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We believe that acquiring a bank charter will enable us to
    (i) offer consumers FDIC-insured transactional accounts,
    (ii) issue prepaid card and debit card products linked to
    those transactional accounts, (iii) offer other types of
    deposit products, such as savings accounts, and
    (iv) provide settlement services for our reload network.
We believe that this acquisition will provide the following
    strategic benefits:
•
increase our efficiency in introducing and managing potential
    new products and services, which are more difficult to
    accomplish with multiple unaffiliated card issuing banks;
•
reduce the risk that we would be negatively impacted by one of
    the banks that issue our cards changing its business practices
    as a result of, among other things, a change of strategic
    direction, financial hardship or regulatory developments;
•
reduce the sponsorship and service fees and other expenses that
    we incur each year to the third-party banks that issue our
    cards, and correspondingly increase funds available to us to
    spend on other aspects of our business, including the ability to
    invest in further reducing consumer pricing; and
•
further increase the degree to which our operations are
    integrated and provide increased control over our operations.
Our Business
    Model
Our business model focuses on four major elements: our
    consumers; our distribution; our products and services; and our
    proprietary technology, which provides functionality for and
    connectivity to the Green Dot Network and is the platform that
    brings the other three elements together.
Our
    Consumers
We have designed our products and services to appeal primarily
    to consumers living in households that earn less than $75,000
    annually across the following four segments:
•
Never-banked – households in which no one has ever had
    a bank account;
•
Previously-banked – households in which at least one
    member has previously had a bank account, but no one has one
    currently;
•
Underbanked – households in which at least one member
    currently has a bank account, but that also use non-bank
    financial service providers to conduct routine transactions like
    check cashing or bill payment; and
•
Fully-banked – households that primarily rely on
    traditional financial services.
Based on data from the FDIC, the Federal Reserve Bank, the
    U.S. Census and the Center for Financial Services
    Innovation and our proprietary data, we believe these four
    segments collectively represent an addressable market of
    approximately 160 million people in the United States. We
    believe that we currently have a significant number of customers
    in each of these segments.
Customers in different segments tend to purchase and use our
    products for different reasons and in different ways. For
    example, we believe never-banked consumers use our products as a
    safe controlled way to spend cash and as a means to access
    channels of trade, such as online purchases, where cash cannot
    be used. We believe previously-banked consumers use our products
    as a convenient and affordable substitute for a traditional
    checking account by depositing payroll checks (via direct or
    in-store deposit) into a Green Dot GPR card account and use our
    products to pay bills, shop online, monitor spending and
    withdraw cash from ATM machines.
We believe underbanked consumers use our products in ways
    similar to those of the never- and previously-banked segments,
    but additionally view our products as a credit card substitute.
    For example, underbanked consumers use our products to make
    purchases at physical and online merchants, book travel
    arrangements and guarantee reservations. We believe fully-banked
    consumers use our products as companion products to their bank
    checking account, segregating funds into separate accounts for a
    variety of uses. For example, fully-banked consumers often use
    our cards to
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shop on the Internet without providing their bank debit card
    account information online. These consumers also use our
    products to control spending, designate funds for specific uses,
    prevent overdrafts in their checking accounts, or load funds
    into specific accounts, such as a PayPal account.
Our
    Distribution
We achieve broad distribution of our products and services
    through our retail distributors, the Internet and relationships
    with other businesses, such as Intuit. In addition our network
    acceptance members encourage their customers to use our prepaid
    financial services.
Retail Distributors.
Our prepaid financial
    services are sold in approximately 50,000 retail stores,
    including those of major national mass merchandisers, national
    and regional drug store and convenience store chains, and
    national and regional supermarket chains. Our retail
    distributors include:
Type of Distributor
Representative Distributors
Mass merchandise retailers
Walmart, Kmart, Meijer
Drug store retailers
Walgreens, CVS, Rite-Aid, Duane Reade
Convenience store retailers
The Pantry (Kangaroo Express), 7-Eleven
Supermarket retailers
Kroger
Other
RadioShack
Most of these retailers have been our distributors for several
    years and all have contracts with us, subject to termination
    rights, that expire at various dates from 2011 to 2013. In
    general, our agreements with our retail distributors give us the
    right to provide Green Dot-branded
and/or
co-branded GPR cards and reload services in their retail
    locations and require us to share with them by way of
    commissions the revenues generated by sales of these cards and
    reload services. We and the retail distributor generally also
    agree to certain marketing arrangements, such as promotions and
    advertising. Our operating revenues derived from products and
    services sold at the store locations of our four largest retail
    distributors (Walmart, Walgreen, CVS and Rite Aid) represented
    the following percentages of our total operating revenues:
    approximately 3%, 22%, 19% and 17%, respectively, for the year
    ended July 31, 2007, 39%, 17%, 13% and 11%, respectively,
    for the year ended July 31, 2008, 56%, 11%, 9% and 7%,
    respectively, for the year ended July 31, 2009, and 64%,
    9%, 8% and 6%, respectively, for the three months ended
    October 31, 2009.
Our Relationship with Walmart.
Walmart is our
    largest retail distributor. We have been the exclusive provider
    of GPR cards sold at Walmart since Walmart initiated its Walmart
    MoneyCard program in 2007. In October 2006, we entered into
    agreements with Walmart and GE Money Bank (the issuing bank),
    which set forth the terms and conditions of our relationship
    with Walmart. Pursuant to the terms of these agreements, Green
    Dot designs and delivers the Walmart MoneyCard product and
    provides all ongoing program support, including network IT,
    regulatory and legal compliance, website functionality, customer
    service and loss management. Walmart displays and sells the card
    and GE Money Bank serves as the issuer of the cards and holds
    the associated FDIC-insured deposits. All Walmart MoneyCard
    products are reloadable exclusively on the Green Dot Network.
In November 2008, the original term of agreement among Green
    Dot, Walmart and GE Money Bank was extended through November
    2013. If the agreement is not terminated, it will extend
    indefinitely until a party provides 180 days' advance
    written notice of its intent to terminate the agreement. Walmart
    has the right to terminate this agreement prior to its
    expiration or renewal for a number of specified reasons, such as
    our failure to meet specified service levels. In addition,
    starting in November 2011, Walmart may terminate the agreement
    at any time with 180 days' advance written notice.
Network Acceptance Members.
A large number of
    institutions accept funds through our reload network, using our
    MoneyPak product. We provide reload services to over 100
    third-party card programs, including programs offered by
    H&R Block, AccountNow and Jackson Hewitt. MasterCard's
    RePower Reload Network also uses the Green Dot Network to
    facilitate cash reloads for its own member programs.
    Furthermore, in February 2009, we entered into a five-year
    agreement with PayPal that enables PayPal customers to use a
    MoneyPak to fund a new or existing PayPal account. As a
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result of this agreement, consumers without a bank account or
    credit card are able to fund PayPal accounts.
Other Channels.
An increasing portion of our
    card sales is generated from our online distribution channel and
    other non-retail channels. We offer Green Dot-branded cards
    through our website, www.greendot.com. We promote this
    distribution channel through television and online advertising.
    Customers who activate their cards through this channel
    typically receive an unfunded card in the mail and then can
    reload the card either through a cash reload or a payroll direct
    deposit transaction. In October 2009, we entered into a
    joint marketing and referral agreement with Intuit. Under this
    agreement, Intuit customers can elect to receive their tax
    refunds via a co-branded card that we manage.
Our Products
    and Services
Our principal products and services consist of Green Dot-branded
    and co-branded GPR cards and MoneyPak and POS swipe reload
    transactions facilitated by the Green Dot Network. We also
    service general purpose gift cards, which have historically
    represented only a small percentage of our operating revenues.
    The GPR cards we offer are issued primarily by Columbus Bank and
    Trust Company and, in the case of certain of our co-branded
    cards discussed below, GE Money Bank. Card balances are
    FDIC-insured and have either Visa or MasterCard zero liability
    card protection.
Card
    Products
Green Dot-Branded GPR Cards.
Our Green
    Dot-branded GPR cards provide consumers with an affordable and
    convenient way to manage their money and make payments without
    undergoing a credit check or possessing a pre-existing bank
    account. In addition to standard prepaid Visa or
    MasterCard-branded GPR cards, we also offer GPR cards marketed
    for a specific use or market, such as our Online Shopping card,
    our Prepaid Student card and our Prepaid NASCAR card.
We offer these GPR cards to consumers in approximately 50,000
    retail locations in 49 states, including those of
    Walgreens, CVS, Rite Aid, Kroger and 7-Eleven. We also offer our
    GPR cards online through our web site, www.greendot.com. To
    purchase a GPR card, consumers typically select the GPR card
    from an in-store display and pay the cashier a one-time purchase
    fee plus the initial amount they would like to reload onto their
    card. Consumers then go online or call a toll-free number to
    register their personal information with us so that we can
    activate their temporary prepaid card and mail them a
    personalized GPR card. As explained below, consumers can then
    reload their personalized GPR cards using a MoneyPak or, at
    enabled retailers, via a
point-of-sale
process, which we refer to as a POS swipe reload transaction.
    Funds can also be loaded on the card via direct deposit of a
    customer's government or payroll check.
Our GPR cards are issued as Visa- or MasterCard-branded cards
    and are accepted worldwide by merchants and other businesses
    belonging to the applicable payment network, including for bill
    payments, online shopping, everyday store purchases and ATM
    withdrawals. As of December 31, 2009, Visa and MasterCard
    each were accepted at approximately 29 million acceptance
    locations worldwide, respectively. As of December 31, 2009,
    our cardholders could complete ATM transactions at approximately
    1.4 million Visa PLUS or 900,000 MasterCard Cirrus ATMs
    worldwide, including over 17,000 MoneyPass surcharge-free ATMs
    in all 50 states and Puerto Rico.
We offer a simple fee structure that includes a new card fee (if
    the card is purchased from one of our retail distributors), a
    monthly maintenance fee (which may be waived based on usage), a
    cash reload fee and an ATM withdrawal fee for non-MoneyPass
    ATMs. Most of the features and functions of our cards are
    provided without surcharges. Our free services include account
    management and balance inquiry services via Internet, telephone
    and mobile applications. In addition, via an online tool, we
    allow cardholders to manage household and other bills and to
    make payments to companies or individuals.
For regulatory compliance, risk management, operational and
    other reasons, our GPR cards and reload products have certain
    limitations and restrictions, including but not limited to
    maximum dollar reload amounts, number of reloads in a given time
    period (e.g. per day), and limitations of uses of our temporary
    cards versus permanent cards.
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Co-Branded GPR Cards.
We provide co-branded
    GPR cards on behalf of certain retail distributors and other
    business entities. Co-branded cards generally bear the
    trademarks or logos of the retail distributor or business
    entity, and our trademark on the packaging and back of the card.
    These cards have the same features and characteristics as our
    Green Dot-branded GPR cards, and are accepted at the same
    locations. We typically are responsible for managing all aspects
    of these programs, including strategy, product design,
    marketing, customer service and operations/compliance.
    Representative co-branded cards include the Walmart MoneyCard,
    the TurboTax Refund Card, the Kmart Prepaid Visa and MasterCard
    cards and the Meijer Prepaid MasterCard.
Reload
    Services
We generate cash transfer revenues when consumers purchase our
    reload services. We offer consumers affordable and convenient
    ways to reload any of our GPR cards and to conduct other cash
    loading transactions through our reload network, using our
    MoneyPak product or through retailers' specially enabled
    POS devices. MoneyPak is offered in all of the retail locations
    where our GPR cards are sold. MoneyPak is a cash reload product
    that we market on a display like our Green Dot-branded GPR
    cards. Cash reloads using a MoneyPak involve a two-step process:
    consumers pay the cashier the desired amount to be reloaded,
    plus a service fee, and then go online or call a toll-free
    number to submit the MoneyPak number and add the funds to a GPR
    card or other account, such as a PayPal account. Alternatively,
    at many retail locations, consumers can add funds directly to
    their Green Dot-branded and co-branded cards at the point of
    sale through a POS swipe reload transaction. Unlike a MoneyPak,
    these POS swipe reload transactions involve a single-step
    process: consumers pay the cashier the desired amount to be
    reloaded, plus a service fee, and funds are reloaded onto the
    GPR card at the point of sale without further action required on
    the part of the consumer.
Our Proprietary Technology Platform — Green
    PlaNET
Green PlaNET is our proprietary technology platform that enables
    our network participants to communicate with us in a real-time,
    secure environment. Green PlaNET is a centralized, client-server
    based processing system that gives us the ability to centrally
    develop and distribute product applications, manage customer
    accounts, authorize, process and settle transactions, ensure
    security and regulatory compliance, and provide customer
    services across a variety of points of contact and technologies.
Green PlaNET enables Green Dot cardholders to activate and use
    their card accounts for a variety of transactions, such as cash
    loads and online bill payments. Green PlaNET also provides a
    single and secure point of integration for all our network
    participants, enabling them to communicate with us and our
    customers and facilitating the initiation, authorization and
    settlement of transactions.
Green PlaNET has the following components:
•
The Green PlaNET front-end processing system communicates with
    the host systems of retail distributors and network acceptance
    members through a proprietary application programming interface,
    or API, and runs a variety of software applications that
    facilitate the purchase of a card at a retail location as well
    as the loading of cash onto a card or MoneyPak. It engages in
    real-time transaction verification so that cards do not exceed
    applicable limits, thus ensuring compliance with our anti-money
    laundering program.
•
The Green PlaNET back-end processing system runs a variety of
    software applications that enable the activation, daily use and
    maintenance of our cardholder accounts. It executes a variety of
    transaction-enabling processes and initiates several customer
    verification modules, such as internally developed anti-money
    laundering, "Know Your Customer" and Office of Foreign
    Assets Control requirements, and external data requests from
    outsourced vendors, such as Experian and LexisNexis, that
    together ensure compliance with all federal requirements for the
    opening of a new account. It interfaces with our database to
    generate account statements and initiate account notification
    communications, such as emails and text messages. It also
    interacts with the systems of other processors and executes
    back-end batch processes, such as transaction fee calculations,
    charge-back transactions, retailer invoicing and account
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write-offs, that facilitate the daily accounting, reconciliation
    and settlement of transactions and account activity. In
    addition, the Green PlaNET back-end processing system houses a
    variety of security applications that provide customer and card
    data encryption, fraud monitoring, information security
    administration and firewalls that protect the Green PlaNET
    infrastructure.
•
The Green PlaNET customer-facing systems include a service
    processing system and various communication systems. The Green
    PlaNET service processing system includes several customer
    relationship management software applications that operate a
    variety of support services, providing real-time account history
    access and pending transaction data, contact information,
    personal identification number request and issuance services and
    balance inquiry applications. It also enables consumers to
    direct cash transfers using our MoneyPak product. In addition,
    Green PlaNET provides our consumers, retail distributors and
    network acceptance members with the ability to communicate with
    us and access accounts using a variety of technologies. These
    technologies integrate with our customer care applications and
    allow us, among other things, to address customer inquiries and
    automatically prompt customer support agents to sell upgrades
    and make cross-sales. We have also integrated Green PlaNET with
    our website, www.greentdot.com, to provide a full range of
    interactive services, including online card sales, full
    activation and personalization services, electronic funds
    transfers, and access to account histories and management
    services.
Sales and
    Marketing
The primary objective of our sales and marketing efforts is to
    educate consumers on the utility of our products and related
    services in order to generate demand, and to instruct consumers
    on where they may purchase our products and services. We
    accomplish this objective through various types of
    consumer-oriented marketing and advertising and by expanding our
    group of retail distributors to gain access to additional
    customers.
Marketing to
    Consumers
We believe that our marketing efforts to consumers are
    fundamental to the success of our business. We market our
    products to a broad group of consumers, ranging from
    never-banked to fully-banked consumers. We are focusing our
    current sales and marketing efforts on customer acquisition,
    enhancing our brand and image, building market awareness of our
    products, improving cardholder retention and increasing card
    usage. To achieve these objectives, we highlight to consumers
    the core benefits of our products, which we believe are
    affordability, access to funds, utility, convenience,
    transparency and security.
Our marketing campaigns involve creating a compelling in-store
    presence and conducting television advertising, retailer
    promotions such as newspaper inserts and circulars, online
    advertisements, and co-op advertising with select retail
    distributors. We focus on raising brand awareness while
    educating our customers.
We also design, and provide to our retail distributors for use
    in their stores, innovative packaging and in-store displays that
    we believe generate consumer interest and differentiate our
    products from other card products on their racks. Our packaging
    and displays help ensure that our products are promoted in a
    consistent, visual manner that is designed to invite consumers
    to browse and learn about our products, and thus to increase our
    sales opportunities. This packaging is designed to establish a
    connection with consumers, which we believe increases the
    likelihood that they will buy our products.
We employ a number of strategies to improve cardholder retention
    and increase card usage. These strategies are based on research
    we conduct on an ongoing basis to understand consumer behavior
    and improve consumer loyalty and satisfaction. For example, we
    use our points of contact with customers (e.g., our website,
    email, IVR and mobile applications) to educate our customers and
    promote new card features. We also provide incentives for
    behaviors, such as cash reloading, establishing payroll direct
    deposit and making frequent purchases with our cards, that we
    believe increase cardholder retention.
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Marketing to
    Retail Distributors
When marketing to potential new retail distributors, we
    highlight the key benefits of our products, including our
    national brand, our in-store presence and merchandising
    expertise, our cash reload network, the profitability to them of
    our products and our commitment to national television and other
    advertising. In addition, we communicate the peripheral benefits
    of our products, such as their ability to generate additional
    foot traffic and sales in their stores.
Marketing to
    Our Network Acceptance Members
We market our reload network to a broad range of banks,
    third-party processors, program managers and others that have
    uses for our reload network's cash transfer technology.
    When marketing to potential network acceptance members, we
    highlight the key benefits of our cash loading network,
    including the breadth of our retail distributors and
    distribution capabilities, our leadership position in the
    industry, the profitability to them of our products, consumer
    satisfaction and our commitment to national television and other
    advertising and marketing support.
Customer
    Service
We provide customer service for all GPR card and gift card
    programs that we manage and for MoneyPak on a
24-hour
per
    day,
365-day
per year basis, primarily through third-party service providers
    in Guatemala and the Philippines, and also through our staff in
    the United States. All card activations, reloads, support and
    lost/stolen inquiries are handled online and through various
    toll-free numbers at these locations. We also operate our own
    call center at our headquarters for handling customer and
    corporate escalations. Customer service is provided in both
    English and Spanish.
Competition
We operate in highly competitive and still developing markets,
    which we expect to become increasingly competitive in the
    future. In addition to the direct competitors described below,
    we compete for access to retail distribution channels and for
    the attention of consumers at the retail level.
Prepaid Card
    Issuance and Program Management
We compete against the full spectrum of providers of GPR cards.
    We compete with traditional providers of financial services,
    such as banks that offer demand deposit accounts and card
    issuers that offer credit cards, private label retail cards and
    gift cards. Many of these institutions are substantially larger
    and have greater resources, larger and more diversified customer
    bases and greater brand recognition than we do. Many of these
    companies can also leverage their extensive customer bases and
    adopt aggressive pricing policies to gain market share. Our
    primary competitors in the prepaid card issuance and program
    management market are traditional credit, debit and prepaid card
    account issuers and prepaid card program managers like First
    Data, Netspend, AccountNow, PreCash, Rush Card, Western Union
    and MoneyGram. Our Green-Dot branded cards also compete with our
    co-branded GPR cards, such as the Walmart MoneyCard.
We believe that the principal competitive factors for the
    prepaid card issuance and program management market include:
•
breadth of distribution;
•
brand recognition;
•
the ability to reload funds;
•
compliance and regulatory capabilities;
•
enterprise-class and scalable IT;
• customer support capabilities; and
•
pricing.
We believe our products compete favorably on each of these
    factors.
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Reload
    Networks
While we believe our Green Dot Network is the leading reload
    network in the United States, a growing number of companies are
    attempting to establish and grow their own reload networks. In
    this market, new companies, or alliances among existing
    companies, may be formed that rapidly achieve a significant
    market position. Many of these companies are substantially
    larger than we are and have greater resources, larger and more
    diversified customer bases and greater name recognition than we
    do. Our primary competitors in the reload services market are:
    Visa, MasterCard, Western Union, MoneyGram, Blackhawk and
    Netspend. Visa and MasterCard each have broad brand recognition
    and a large base of merchant acquiring and issuing banks.
    Western Union, MoneyGram, Blackhawk and Netspend each have a
    national network of retail
and/or
agent
    locations. In addition, we compete for consumers and billers
    with financial institutions that provide their retail customers
    with billing, payment and funds transfer services. Many of these
    institutions are substantially larger and have greater
    resources, larger and more diversified customer bases and
    greater brand recognition than we do.
We believe that the principal competitive factors for reload
    network services include:
•
the number and quality of retail locations;
•
brand recognition;
•
product and service functionality;
•
number of cardholders and customers using the service;
•
reliability of the service;
•
retail price;
•
enterprise class and scalable IT;
•
ability to integrate quickly with multiple payment platforms and
    distributors;
• customer support capabilities; and
•
compliance and regulatory capabilities.
We believe the Green Dot Network competes favorably on each of
    these factors.
Prepaid Card
    Distribution
We compete against the full spectrum of prepaid card
    distributors and third-party processors that sell competing
    prepaid card programs through retail and online channels. Many
    of these institutions are substantially larger and have greater
    resources, larger and more diversified customer bases and
    greater brand recognition than we do. Many of these companies
    can also leverage their extensive customer bases and adopt
    aggressive pricing policies to gain market share. As new payment
    methods are developed, we also expect to experience competition
    from new entrants. Our primary competitors in the market for
    prepaid cards are: InComm, Blackhawk, First Data, Netspend and
    AccountNow. In addition, we face potential competition from
    Western Union, MoneyGram and a number of retail banks if they
    enter these markets.
We believe that the principal competitive factors for the
    prepaid card distribution market include:
•
brand recognition with consumers and retailers;
•
the ability to reload funds;
•
ability to develop and maintain strong relationship with retail
    distributors;
•
compliance and regulatory capabilities;
•
pricing; and
•
large customer base.
We believe our products compete favorably on each of these
    factors.
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Intellectual
    Property
We rely on a combination of trademark and copyright laws and
    trade secret protection in the United States, as well as
    confidentiality procedures and contractual provisions, to
    protect the intellectual property rights related to our products
    and services.
We own several trademarks, including Green Dot, MoneyPak and the
    Green Dot logo. These assets are essential to our business.
    Through agreements with our network acceptance members, retail
    distributors and customers, we authorize and monitor the use of
    our trademarks in connection with their activities with us.
We have one patent application under consideration in the United
    States related to the retail packaging of our cards.
Regulation
Compliance with legal and regulatory requirements is a highly
    complex and integral part of our
day-to-day
operations. Our products and services are generally subject to
    federal, state and local laws and regulations, including:
•
anti-money laundering laws;
•
money transfer and payment instrument licensing regulations;
•
escheatment laws;
•
privacy and information safeguard laws;
•
bank regulations; and
•
consumer protection laws.
These laws are often evolving and sometimes ambiguous or
    inconsistent, and the extent to which they apply to us or our
    issuing banks, retail distributors, network acceptance members
    or third-party processors is at times unclear. Any failure to
    comply with applicable law — either by us or by the
    issuing banks, retail distributors, network acceptance members
    or third-party processors, over which we have limited legal and
    practical control — could result in restrictions on
    our ability to provide our products and services, as well as the
    imposition of civil fines and criminal penalties and the
    suspension or revocation of a license or registration required
    to sell our products and services. See "Risk Factors"
    for additional discussion regarding the potential impacts of
    failure to comply.
We continually monitor and enhance our compliance program to
    stay current with the most recent legal and regulatory changes.
    We also continue to implement policies and programs and to adapt
    our business practices and strategies to help us comply with
    current legal standards, as well as with new and changing legal
    requirements affecting particular services or the conduct of our
    business generally. These programs include dedicated compliance
    personnel and training and monitoring programs, as well as
    support and guidance to our retail distributors and network
    acceptance members on compliance programs.
Anti-Money
    Laundering Laws
Our products and services are generally subject to federal
    anti-money laundering laws, including the Bank Secrecy Act, as
    amended by the USA PATRIOT Act, and similar state laws. On an
    ongoing basis, these laws require us, among other things, to:
•
report large cash transactions and suspicious activity;
•
screen transactions against the U.S. government's
    watch-lists, such as the watch-list maintained by the Office of
    Foreign Assets Control;
•
prevent the processing of transactions to or from certain
    countries, individuals, nationals and entities;
•
identify the dollar amounts loaded or transferred at any one
    time or over specified periods of time, which requires the
    aggregation of information over multiple transactions;
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•
gather and, in certain circumstances, report customer
    information;
•
comply with consumer disclosure requirements; and
•
register or obtain licenses with state and federal agencies in
    the United States and seek registration of our retail
    distributors and network acceptance members when necessary.
Anti-money laundering regulations are constantly evolving. We
    continuously monitor our compliance with anti-money laundering
    regulations and implement policies and procedures to make our
    business practices flexible, so we can comply with the most
    current legal requirements. We cannot predict how these future
    regulations might affect us. Complying with future regulation
    could be expensive or require us to change the way we operate
    our business.
We are voluntarily registered with the Financial Crimes
    Enforcement Network as a money service business. We are also
    required to establish anti-money laundering compliance programs
    that include: (i) internal policies and controls;
    (ii) designation of a compliance officer;
    (iii) ongoing employee training and (iv) an
    independent review function. We have developed and deployed
    compliance programs comprised of policies, procedures, systems
    and internal controls to monitor and address various aspects of
    legal requirements and developments. To assist in managing and
    monitoring money laundering risks, we continue to enhance our
    anti-money laundering compliance program. We offer our services
    largely through our retail distributor and network acceptance
    member relationships. We have developed an anti-money laundering
    training manual and a program to assist in educating our retail
    distributors on the applicable anti-money laundering laws and
    regulations.
Money Transfer
    and Payment Instrument Licensing Regulations
We are subject to money transfer and payment instrument
    licensing regulations. We have obtained licenses to operate as a
    money transmitter in 39 U.S. jurisdictions. The remaining
    U.S. jurisdictions either do not currently regulate money
    transmitters or we have received a regulatory determination or a
    legal interpretation that the money services laws of that
    jurisdiction do not require us to obtain a license in connection
    with the conduct of our business. As a licensee, we are subject
    to certain restrictions and requirements, including reporting,
    net worth and surety bonding requirements and requirements for
    regulatory approval of controlling stockholders, agent locations
    and consumer forms and disclosures. We are also subject to
    inspection by the regulators in the jurisdictions in which we
    are licensed, many of which conduct regular examinations.
In addition, we must at all times maintain "permissible
    investments" in an amount equivalent to all
    "outstanding payment obligations." While, technically,
    the outstanding payment obligations represented by the balances
    on our card products are liabilities of the issuing bank and not
    us, it is possible that some states will require us to maintain
    permissible investments in an amount equal to the outstanding
    payment obligations of the bank that issues our cards. The types
    of securities that are considered "permissible
    investments" vary from state to state, but generally
    include cash and cash equivalents, U.S. government
    securities and other highly rated debt instruments.
Escheatment
    Laws
Unclaimed property laws of every U.S. jurisdiction require
    that we track certain information on our card products and
    services and that, if customer funds are unclaimed at the end of
    an applicable statutory abandonment period, the proceeds of the
    unclaimed property are remitted to the appropriate jurisdiction.
    We have agreed with the banks that issue our cards to manage
    escheatment law compliance with respect to our card products and
    services and have an ongoing program to comply with those laws.
    Statutory abandonment periods applicable to our card products
    and services typically range from three to seven years.
Privacy and
    Information Safeguard Laws
In the ordinary course of our business, we collect certain types
    of data, which subjects us to certain privacy and information
    security laws in the United States, including, for example, the
    Gramm-Leach-Bliley Act of 1999, or the GLB Act, and other laws
    or rules designed to regulate consumer information and mitigate
    identity theft. We are also subject to privacy laws of various
    states. These
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state and federal laws impose obligations with respect to the
    collection, processing, storage, disposal, use and disclosure of
    personal information, and require that financial institutions
    have in place policies regarding information privacy and
    security. In addition, under federal and certain state financial
    privacy laws, we must provide notice to consumers of our
    policies and practices for sharing nonpublic information with
    third parties, provide advance notice of any changes to our
    policies and, with limited exceptions, give consumers the right
    to prevent use and disclosure of their nonpublic personal
    information with unaffiliated third parties. Certain state laws
    may, in some circumstances, require us to notify affected
    individuals of security breaches of computer databases that
    contain their personal information. These laws may also require
    us to notify state law enforcement, regulators or consumer
    reporting agencies in the event of a data breach, as well as
    businesses and governmental agencies that own data. In order to
    comply with the privacy and information safeguard laws, we have
    confidentiality/information security standards and procedures in
    place for our business activities and with network acceptance
    members and our third-party vendors and service providers.
    Privacy and information security laws evolve regularly,
    requiring us to adjust our compliance program on an ongoing
    basis and presenting compliance challenges.
Bank
    Regulations
All of the GPR cards that we provide and the Walmart gift cards
    we service are issued by either a federally- or state-chartered
    bank. Thus, we are subject to the oversight of the regulators
    for and certain laws applicable to these issuing banks. These
    banking laws require us, as a servicer to the banks that issue
    the cards, among other things, to undertake compliance actions
    similar to those described under "– Anti-Money
    Laundering Compliance" above and to comply with the privacy
    regulations promulgated under the GLB Act as discussed under
    "– Privacy and Information Safeguard
    Regulations."
In addition, we entered into a definitive agreement to acquire a
    bank holding company and its subsidiary commercial bank, and
    filed an application with the appropriate federal and state
    regulators seeking approval for this transaction. If the
    acquisition is completed, we would become a bank holding company
    under the Bank Holding Company Act and our consolidated business
    would be subject to the extensive supervision and examination of
    the Federal Reserve Board. Moreover, our new bank subsidiary
    would be subject to regulation and examination by a state
    banking regulator and, because its deposits will be insured by
    the FDIC, the FDIC.
The regulation of banks and bank holding companies is
    comprehensive, and involves regulatory oversight and examination
    of virtually every aspect of the activities and operations of
    such entities.  While not an exhaustive list, Green Dot and our
    acquired subsidiary bank would be:
•
subject to periodic reporting requirements to state and federal
    banking agencies;
•
subject to periodic examinations by such agencies;
•
limited, in the case of Green Dot, to activities permissible for
    bank holding companies (generally activities closely related to
    the business of banking), and in the case of the subsidiary
    bank, to activities permissible for banks;
•
subject to consolidated capital requirements (in general, having
    to maintain ratios of capital to assets not less than 5% of
    assets and ratios of capital to risk-adjusted assets of not less
    than 10%);
•
subject to a panoply of consumer protection regulations
    governing any lending or deposit taking activities conducted by
    our acquired subsidiary bank;
•
required to assess and meet the credit needs of the communities
    in which the bank is located, including low- and moderate-income
    neighborhoods or otherwise meet the requirements of the
    Community Reinvestment Act of 1977; and
•
subject to extensive enforcement powers granted the banking
    agencies allowing them to institute cease and desist
    proceedings, impose civil money penalties or take certain other
    actions in the event we, our acquired subsidiary bank or any of
    our or its officers or directors
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engage in unsafe or unsound practices, violations of laws or
    regulations or certain other activities.
Our ability or our acquired subsidiary bank to engage in new
    activities, offer new products or provide products or services
    from new locations could be subject to limitations or
    restrictions imposed by the state or federal banking agencies.
    While we believe that the acquisition of the bank will provide
    us with important strategic advantages and that we will be able
    to operate and execute our business plan successfully in this
    regulated environment, state or federal banking agencies
    exercise a high degree of discretion in the implementation of
    the laws and regulations that would affect us as a bank holding
    company and our acquired subsidiary bank.  Accordingly, there
    can be no assurance that we will realize the expected benefits
    of our pending bank acquisition.
The regulation and supervision of banks and bank holding
    companies will require us to incur additional compliance costs
    and other expenses.  For example, our acquired subsidiary bank
    will be subject to assessments by the FDIC associated with
    deposit insurance, and the state banking department supervising
    the bank will likely impose periodic examination fees.
The U.S. Congress is considering various proposals relating to
    the activities and supervision of banks and bank holding
    companies, some of which could materially affect our operations
    and those of our acquired subsidiary bank.  While there can be
    no assurance regarding the ultimate impact that adoption of
    these proposals will have on us, if the proposals are enacted,
    we expect that the benefits we expect to realize from our
    pending bank acquisition will be reduced.
Consumer
    Protection Laws
We are subject to state and federal consumer protection laws,
    including laws prohibiting unfair and deceptive practices,
    regulating electronic fund transfers and protecting consumer
    nonpublic information. We believe that we have appropriate
    procedures in place for compliance with these consumer
    protection laws, but many issues regarding our service have not
    yet been addressed by the federal and state agencies charged
    with interpreting the applicable laws.
Although not expressly required to do so under the Electronic
    Fund Transfer Act and Regulation E of the Federal
    Reserve Board, we disclose, consistent with banking industry
    practice, the terms of our electronic fund transfer services to
    consumers prior to their use of the service, provide
    21 days' advance notice of material changes, establish
    specific error resolution procedures and timetables, and limit
    customer liability for transactions that are not authorized by
    the consumer.
Card
    Associations
In order to provide our products and services, we, as well as
    the banks that issue our cards, must register with Visa and
    MasterCard and, as a result, are subject to card association
    rules that could subject us to a variety of fines or penalties
    that may be levied by the card association or network for
    certain acts or omissions. The banks that issue our cards are
    specifically registered as "members" of the Visa
and/or
MasterCard card associations. Visa and MasterCard set the
    standards with which we and the issuing banks must comply.
Employees
As of October 31, 2009, we had 256 employees,
    including 224 in general and administrative, 25 in sales and
    marketing and 7 in research and product development. None of our
    employees is represented by a labor union or is covered by a
    collective bargaining agreement. We have never experienced any
    employment-related work stoppages and consider relations with
    our employees to be good. As of October 31, 2009, we also
    had arrangements with third-party call center providers in
    Guatemala and the Philippines that provided us with
    approximately 667 contractors for customer service and similar
    functions.
Facilities
We lease approximately 56,000 square feet in Monrovia,
    California for our corporate headquarters, pursuant to a
    noncancelable lease agreement for approximately
    49,000 square feet that expires
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in September 2012 and a sub-lease agreement for approximately
    7,000 square feet that expires in December 2011. We
    believe our space is adequate for our current needs and that
    suitable additional or substitute space will be available to
    accommodate the foreseeable expansion of our operations.
Legal
    Proceedings
From time to time, we may be subject to legal proceedings and
    claims in the ordinary course of business. We are not currently
    a party to any material legal proceedings, and to our knowledge
    none is threatened.
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MANAGEMENT
Executive
    Officers and Directors
The following table provides information regarding our executive
    officers and directors as of February 22, 2010:
Name
Age
Position(s)
Steven W. Streit
47
Chairman, President and Chief Executive Officer
Mark T. Troughton
41
President, Cards and Network
John L. Keatley
36
Chief Financial Officer
John C. Ricci
44
General Counsel and Secretary
William D. Sowell
44
Chief Operating Officer
Kenneth C. Aldrich*
71
Director
Timothy R. Greenleaf(1)
53
Director
Virginia L. Hanna(1)(2)(3)
59
Director
Michael J. Moritz(2)(3)
55
Director
William H. Ott, Jr.(1)
58
Director
W. Thomas Smith, Jr.(2)(3)
63
Director
*
Lead independent director
(1)
Member of our audit committee.
(2)
Member of our compensation committee.
(3)
Member of our nominating and governance committee.
Steven W. Streit
is our founder, and has served as our
    President and a director since October 1999, our Chief Executive
    Officer since January 2001 and our Chairman since February 2010.
    He also served as our Secretary from October 1999 to April 2000
    and as our Treasurer from October 1999 to April 2004. From 1983
    to 1999, Mr. Streit worked in the radio broadcasting
    industry, including serving as a Vice President of Programming
    at AMFM, a publically-traded radio broadcast group.
Mark T. Troughton
has served as our President, Cards and
    Network, since February 2007. From June 2003 to July 2004, he
    served as our Executive Vice President, Business Development,
    and from July 2004 to February 2007, he served as our Chief
    Operating Officer and Executive Vice President of Corporate
    Strategy. Prior to joining Green Dot, Mr. Troughton was
    Vice President, Marketplace Services for Quadrem.com, an
    Internet procurement company. Mr. Troughton's prior
    experience also includes his four-year tenure at
    McKinsey & Company, a management consulting firm,
    where he served in various capacities, including most recently
    as Engagement Manager. Mr. Troughton started his career as
    a Chartered Accountant and entrepreneur in South Africa. He
    holds a BCom, a BCom (Hons) and an MCom, each in finance,
    accounting or related subjects, from the University of Cape Town
    (South Africa).
John L. Keatley
has served as our Chief Financial Officer
    since October 2006. From May 2005 to October 2006, he served as
    our Vice President, Finance, and from August 2004 to May 2005,
    he served as our Director, Financial Planning &
    Analysis. Prior to joining Green Dot, Mr. Keatley served in
    various positions at McKinsey & Company, a management
    consulting firm, from October 2001 to July 2004, most recently
    as Engagement Manager. Mr. Keatley holds an A.B. in physics
    from Princeton University and an M.B.A. from Harvard Business
    School.
John C. Ricci
has served as our General Counsel since
    June 2004. From April 2003 to June 2004, he served as our
    Director of Legal Affairs. Prior to joining Green Dot,
    Mr. Ricci was an associate at the law firm of Strategic Law
    Partners, LLP from November 1999 to June 2002. Mr. Ricci
    began his career as an attorney in the Enforcement Division of
    the SEC. Mr. Ricci holds a B.A. in
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economics and political science from the University of
    California at San Diego and a J.D. from Loyola Law School.
William D. Sowell
has served as our Chief Operating
    Officer since March 2009. Prior to joining Green Dot,
    Mr. Sowell served in a number of positions at GE Money, a
    financial services company, from March 1998 to January 2006,
    most recently as Vice President, Prepaid Products. From May 1998
    to March 2000, Mr. Sowell served as a Master Black Belt
    (Vice President, Quality) at GE Mortgage Services, a mortgage
    servicing company. Mr. Sowell holds a B.S. in electronic
    engineering technology from East Tennessee State University and
    an M.B.A. from Southern Methodist University.
Kenneth C. Aldrich
has served on our board of directors
    since January 2001. Mr. Aldrich is currently Chairman of
    the Board of International Stem Cell Corporation, a
    biotechnology company focused on developing therapeutic and
    research products through a proprietary stem cell technology. He
    has served in that position since January 2008 and previously
    from January 2001 through June 2006. Mr. Aldrich has also
    served as President of The Aldrich Company, a real estate
    investment firm, since June 1975, and on the board of directors
    of WaveTec Vision Systems, Inc. since January 1999.
    Mr. Aldrich previously served on the boards of directors of
    Encode Bio, Inc. and International Stem Cell Corporation.
    Mr. Aldrich holds an A.B. in history and literature from
    Harvard University and a J.D. from Harvard Law School.
Timothy R. Greenleaf
has served on our board of directors
    since January 2001. Mr. Greenleaf has been the Managing
    Director of Fairmont Capital, Inc., a private equity firm with a
    focus on investments in middle-market consumer-related
    businesses, since January 1999. Previously, Mr. Greenleaf
    was a partner at the law firm of Fulbright & Jaworski
    L.L.P., specializing in mergers and acquisitions, and tax and
    corporate structuring. Mr. Greenleaf has served on a number
    of other boards of directors, including Fairmont Capital, Garden
    Fresh Restaurant Corp. (Souplantation) and Shari's
    Management Corp. Mr. Greenleaf holds a dual B.A. in
    administrative studies and political science from the University
    of California at Riverside, a J.D. from Loyola Law School and an
    L.L.M. in taxation from New York University Law School.
Virginia L. Hanna
has served on our board of directors
    since April 2002. Ms. Hanna has served as the President and
    Chief Executive Officer of Hanna Capital Management, Inc., a
    business management firm, since March 1998, as a Managing Member
    of Hanna Ventures, LLC, a venture capital firm, since April
    1999, and as CEO, President, and Managing Member of Hanna
    Energy, LLC, an energy consulting firm since December 2009. From
    1996 to April 1997, Ms. Hanna was Treasurer and Director of
    Investor Relations at Intuit Inc. Ms. Hanna served as the
    Vice President and Treasurer of The Vons Companies, Inc. from
    1985 to 1995. Ms. Hanna holds a B.A. in liberal arts from
    the University of Illinois and an M.B.A. in finance from DePaul
    University.
Michael J. Moritz
has served on our board of directors
    since February 2003. Mr. Moritz has been a Managing Member
    of Sequoia Capital since 1986. He has previously served as a
    director of a variety of companies including Flextronics Ltd.,
    Google Inc., PayPal, Inc., Red Envelope, Inc., Saba Software,
    Inc., Yahoo! Inc. and Zappos.com, Inc. Mr. Moritz holds an
    M.A. in modern history from Christ Church, Oxford.
William H. Ott, Jr.
has served on our board of
    directors since January 2010. Since 2003, Mr. Ott has
    served as the President of PEAC Ventures, Inc., a corporate
    advisory and consulting firm. From 2002 to 2003, Mr. Ott
    served as the Chief Operating Officer of Visa U.S.A. Inc. From
    1998 to 2002, Mr. Ott served as Group Executive in charge
    of retail, small business, card services, mortgage and consumer
    banking, as well as marketing, advertising and operations, for
    St. George Bank, a commercial bank based in Sydney,
    Australia. He serves as an advisor to the Ethics and Compliance
    Officer Association. Mr. Ott previously served as Chairman
    of E*TRADE Bank and as a director of CashCard Australia.
    Mr. Ott holds a B.A. in English from San Jose State
    University and an M.B.A. from Santa Clara University.
W. Thomas Smith, Jr.
has served on our board of
    directors since April 2001. Mr. Smith founded Total
    Technology Ventures, LLC, a venture capital firm, and has been
    its Managing Director since April 2000. Mr. Smith retired
    from IBM in 2000 after 30 years of service. Mr. Smith
    also serves on the
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boards of directors of numerous private companies, including ALI
    Solutions,
E-Duction,
Inc. and Silverpop. Mr. Smith holds a B.S. in industrial
    management from The Georgia Institute of Technology and
    completed the executive program at Dartmouth College's Amos
    Tuck School of Business.
Our executive officers are elected by, and serve at the
    discretion of, our board of directors. There are no familial
    relationships among our directors and officers.
Board of
    Directors Composition
Under our restated bylaws, our board of directors may set the
    authorized number of directors. Our board of directors currently
    consists of seven members. Upon the completion of this offering,
    our Class A common stock will be listed on the NYSE. The
    rules of the NYSE require that a majority of the members of our
    board of directors be independent within specified periods
    following the completion of this offering. Our board of
    directors has determined that the following six members of our
    board of directors are currently independent as determined under
    the rules of the NYSE: Messrs. Aldrich, Greenleaf, Moritz,
    Ott and Smith and Ms. Hanna.
Pursuant to an investors' rights agreement, as amended
    through February 2010, Messrs. Aldrich, Greenleaf, Moritz,
    Ott, Smith and Streit and Ms. Hanna were designated to
    serve as members of our board of directors. Pursuant to that
    agreement, Messrs. Aldrich, Ott and Smith and
    Ms. Hanna were selected as the representatives of our
    preferred stock, as a class. Mr. Moritz was selected as the
    representative of our Series C, C-1 and C-2 Preferred Stock
    and the remaining members of our board of directors were
    selected by all of the holders of our common stock. Our
    currently serving members of the board will continue to serve as
    directors until their resignations or until their successors are
    duly elected by the holders of our common stock, despite the
    fact that the investors' rights agreement will terminate
    upon the completion of this offering.
Our board of directors is divided into three classes of
    directors who serve staggered three-year terms, as follows:
•
Class I directors are Messrs. Ott and Smith (current
    terms expiring in 2011);
•
Class II directors are Mr. Aldrich and Ms. Hanna
    (current terms expiring in 2012); and
•
Class III directors are Messrs. Greenleaf, Moritz and
    Streit (current terms expiring in 2013).
At each annual meeting of our stockholders, successors to the
    directors whose terms expire at that meeting will be elected to
    serve until the third annual meeting after their election or
    until their successors have been elected. As a result, only one
    class of directors will be elected at each annual meeting of our
    stockholders, with the other classes serving for the remainder
    of their respective terms.
Committees of Our
    Board of Directors
Our board of directors has established an audit committee, a
    compensation committee and a nominating and governance
    committee. The composition and responsibilities of each
    committee are described below. Following the completion of this
    offering, copies of the charters for each committee will be
    available without charge, upon request in writing to Green Dot
    Corporation, 605 East Huntington Drive, Suite 205,
    Monrovia, California 91016, Attn: General Counsel or on the
    investor relations portion of our website, www.greendot.com.
    Members serve on these committees until their resignations or
    until otherwise determined by our board of directors.
Audit
    Committee
Our audit committee is comprised of Mr. Greenleaf, who is
    the chair of the audit committee, and Ms. Hanna and
    Mr. Ott. The composition of our audit committee meets the
    requirements for independence under the current NYSE and SEC
    rules and regulations. Each member of our audit committee is
    financially literate as required by current NYSE listing
    standards. In addition, our board of directors has determined
    that Mr. Greenleaf is an audit committee financial expert
    within the meaning of Item 407(d) of
Regulation S-K
under the Securities Act. Our audit committee recommended, and
    our board of directors adopted, an amended and restated charter
    for our audit
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committee, which will be posted on the investor relations
    portion of our website, www.greendot.com, following the
    completion of this offering. Our audit committee, among other
    things:
•
oversees our corporate accounting and financial reporting
    process;
•
appoints, compensates, retains and oversees the work of any
    registered public accounting firm engaged for the purpose of
    preparing or issuing an audit report or performing other audit,
    review or attest services for our company, including:
•
selection of our independent registered public accounting firm
    to audit our consolidated financial statements;
•
evaluation of our independent registered public accounting
    firm's qualifications, independence and performance;
•
review and approval of the scope of the annual audit and
    quarterly review services;
•
discussion with management and our independent registered public
    accounting firm regarding the results of the annual audit and
    the review of our quarterly consolidated financial statements;
•
approval or pre-approval, as required by SEC and other
    applicable rules and regulations, of the retention of our
    independent registered public accounting firm to perform any
    proposed permissible non-audit services; and
•
monitoring of the rotation of partners of our independent
    registered public accounting firm on our company's audit
    engagement team as required by law;
•
reviews our critical accounting policies and estimates;
•
establishes procedures for the receipt, retention and treatment
    of complaints regarding accounting, internal accounting controls
    and auditing matters, including procedures for the confidential,
    anonymous submission by our employees of concerns regarding
    questionable accounting or auditing matters;
•
considers the adequacy of our internal control over financial
    reporting;
•
oversees our internal audit function; and
•
annually reviews the audit committee charter and the audit
    committee's performance.
The audit committee will operate under a written charter that
    will satisfy the applicable standards of the SEC and the NYSE.
Compensation
    Committee
Our compensation committee is comprised of Mr. Smith, who
    is the chair of the compensation committee, and Ms. Hanna
    and Mr. Moritz. The composition of our compensation
    committee meets the requirements for independence under the
    current NYSE and SEC rules and regulations. The purpose of our
    compensation committee is to discharge the responsibilities of
    our board of directors relating to compensation of our executive
    officers. Our compensation committee recommended, and our board
    of directors adopted a charter for our compensation committee,
    which will be posted on the investor relations portion of our
    website, www.greendot.com, following the completion of this
    offering. Our compensation committee, among other things:
•
reviews and determines, or makes recommendations to our board of
    directors regarding, the compensation of our executive officers;
•
administers our stock and equity incentive plans;
•
reviews and makes recommendations to our board of directors with
    respect to incentive compensation and equity plans; and
•
establishes and reviews general policies relating to
    compensation and benefits of our employees.
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Nominating and
    Governance Committee
The nominating and governance committee is comprised of
    Ms. Hanna, who is the chair of the nominating and
    governance committee, and Messrs. Moritz and Smith. The
    composition of our nominating and governance committee meets the
    requirements for independence under the current NYSE and SEC
    rules and regulations. The nominating and governance committee
    recommended, and our board of directors adopted a charter for
    our nominating and governance committee, which will be posted on
    the investor relations portion of our website, www.greendot.com,
    following the completion of this offering. Our nominating and
    governance committee, among other things:
•
identifies, evaluates and recommends nominees to our board of
    directors and its committees;
•
evaluates the performance of our board of directors and of
    individual directors;
•
considers and makes recommendations to our board of directors
    regarding composition of the board and its committees;
•
reviews related party transactions and proposed waivers of our
    code of conduct;
•
reviews developments in corporate governance practices;
•
evaluates the adequacy of our corporate governance practices and
    reporting; and
•
makes recommendations to our board of directors concerning
    corporate governance matters.
Compensation
    Committee Interlocks and Insider Participation
Since August 1, 2008, the following directors and former
    directors have at one time been members of our compensation
    committee: Messrs. Moritz and Smith, Ms. Hanna and a
    former director, Donald B. Wiener. None of them has at any time
    been one of our officers or employees. None of our executive
    officers serves or in the past has served as a member of the
    board of directors or compensation committee of any entity that
    has one or more of its executive officers serving on our board
    of directors or our compensation committee.
Preferred
    Stock Financings
In December 2008, entities associated with Sequoia Capital
    purchased 1,181,818 shares of
Series C-2
Preferred Stock. Mr. Moritz was then and is currently a
    General Partner of Sequoia Capital.
Warrant
    Exercises
In November 2006, Mr. Wiener exercised warrants to purchase
    224,132 shares of our Class B common stock for his own
    account and on behalf of a number of individuals who have
    appointed him to be their attorney-in-fact with respect to
    certain matters related to interests in our capital stock.
In March 2007, David W. Hanna, Trustee, David William Hanna
    Trust dated October 30, 1989 exercised warrants to purchase
    145,348 shares of our Class B common stock.
    Mr. Hanna is the spouse of Virginia L. Hanna.
Director
    Compensation
The following table provides information for the fiscal year
    ended July 31, 2009 regarding all plan and non-plan
    compensation awarded to, earned by or paid to each non-employee
    who served as a director for some portion or all of that year.
    In fiscal 2009, none of our directors received compensation for
    his or her services as a director except the chairman of our
    audit committee, who received an equity award, with a grant date
    fair value of $39,990, for serving in that role. Other than
    reimbursement of reasonable travel and related expenses incurred
    by non-employee directors in connection with their attendance at
    meetings of our board of directors and its committees, we did
    not pay any other
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fees or make any equity or non-equity awards to or pay any other
    compensation to our non-employee directors in fiscal 2009.
Name
Stock Awards
Kenneth C. Aldrich
—
Timothy R. Greenleaf
$
39,990
(1)
Virginia L. Hanna
—
Michael J. Moritz
—
William H. Ott, Jr.(2)
—
W. Thomas Smith, Jr.
—
Michael S. Fisher*
—
Donald B. Wiener*
—
*
Former director.
(1)
Represents the grant date fair value of 3,720 fully-vested
    shares of our common stock that were issued to
    Mr. Greenleaf as compensation for his services as chairman
    of the audit committee on December 11, 2008 under our 2001
    Stock Plan.
(2)
Mr. Ott was appointed to our board of directors after the
    completion of fiscal 2009 and did not receive any compensation
    for fiscal 2009.
In December 2009, we began to compensate our non-employee
    directors with a combination of cash and equity awards. Each
    non-employee director will receive annual base compensation of
    $20,000 and $3,000 per meeting day attended. In addition, each
    non-employee director who is not affiliated with a holder of our
    preferred stock prior to completion of this offering will
    receive an initial equity award of an option to purchase
    17,000 shares of our Class B common stock or, if
    awarded after completion of this offering, Class A common
    stock. In addition, the chairperson of our audit committee will
    receive annual cash compensation of $40,000 for serving in that
    role. Other members of the audit committee will also receive
    annual cash compensation of $5,000 for serving on our audit
    committee, provided they are not affiliated with a holder of our
    preferred stock prior to completion of this offering.
In February 2010, in connection with his appointment to our
    board of directors, we awarded Mr. Ott an option to
    purchase 17,000 shares of our Class B common stock,
    with an exercise price of $25.00 per share. This award had a
    grant date fair value of $220,660.
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EXECUTIVE
    COMPENSATION
Compensation
    Discussion and Analysis
The following discussion describes and analyzes our compensation
    program for the five executive officers who are identified in
    the "Summary Compensation Table" below (our
    "named executive officers"). For fiscal 2009, our
    named executive officers were:
•
Steven W. Streit, Chairman, President and Chief Executive
    Officer, or CEO;
•
Mark T. Troughton, President, Cards and Network;
•
John L. Keatley, Chief Financial Officer;
•
John C. Ricci, General Counsel and Secretary; and
•
William D. Sowell, Chief Operating Officer.
Compensation
    Philosophy and Objectives
Our executive compensation program is designed to:
•
attract and retain talented and experienced executives in our
    industry;
•
motivate and reward executives whose knowledge, skills and
    performance are critical to our success;
•
link compensation to company performance and individual
    achievement;
•
link specific cash-based elements of compensation to our
    near-term financial performance; and
•
align the interests of our executive officers and those of our
    stockholders by providing our executive officers with long-term
    incentives to increase stockholder value.
We have endeavored to create an executive compensation program
    that provides a mix of short-term and long-term payments and
    awards, cash payments and equity awards, and fixed and variable
    payments and awards that we believe appropriately motivates our
    executive officers and discourages them from taking excessive or
    unnecessary risks. We view these components of compensation as
    related but distinct. Although our compensation committee
    considers the value of total compensation of our executive
    officers, neither our board of directors nor our compensation
    committee believes that significant compensation derived from
    one component of compensation should negate or reduce
    compensation derived from other components. Except as described
    below, neither our compensation committee nor our board of
    directors has adopted any formal or informal policies or
    guidelines for allocating total target compensation between
    short-term and long-term compensation, between cash payments and
    equity awards or between fixed and variable payments and awards.
    However, in general, our compensation committee and our board of
    directors believe a significant portion of the value of total
    target compensation for each named executive officer should be
    in the form of performance-based compensation. In addition, our
    compensation committee and our board of directors strive to keep
    cash compensation at a competitive level while providing
    executive officers with the opportunity to be well rewarded
    through equity awards if our company performs well over time.
From time to time, special business conditions may warrant
    additional compensation to attract, retain or motivate executive
    officers. Examples of these conditions include the need to
    recruit or retain individuals with specific or unique talents,
    and to recognize exceptional contributions. In these situations,
    we consider our business needs and the potential costs and
    benefits of special rewards. For instance, in fiscal 2009, we
    awarded Mr. Sowell a housing and travel allowance under his
    offer letter.
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Historical Compensation Decision Process
Our compensation committee oversees the compensation of our
    named executive officers and our executive compensation programs
    and initiatives. Our compensation committee typically reviews
    executive officer compensation, both base salary levels and the
    target levels for variable cash incentive awards, following the
    end of each fiscal year. In connection with this review, our
    compensation committee considers any input it may receive from
    our CEO (with respect to executive officers other than himself)
    to evaluate the performance of each executive officer and sets
    each executive officer's total target cash compensation for
    the current year based on this review and the other factors
    described below. We pay cash incentive awards under our
    management cash incentive plan, which is designed to compensate
    our named executive officers for their contribution to achieving
    semi-annual financial goals contained in our company financial
    plan, as explained in further detail below. This plan informally
    resets each year when our board of directors approves our
    company financial plan for the next fiscal year unless and until
    our compensation committee or our board of directors determines
    otherwise. In connection with its annual review and any reviews
    that occur during the fiscal year, our compensation committee
    also recommends to our board of directors any equity
    compensation to be awarded to the named executive officers.
    Authority to make equity award grants to our named executive
    officers currently rests with our board of directors.
We have based most, if not all, of our prior compensation
    determinations, including those made for fiscal 2009, on a
    variety of factors, including our performance, financial
    condition and available resources, individual performance, our
    need for a particular position to be filled and the
    recommendations of our CEO (other than with respect to his own
    compensation). In addition, we have based our prior compensation
    determinations on our compensation committee's
and/or
our
    board of directors' evaluation of the competitive market
    based on their respective members' experience with other
    companies and the competitive market, compensation survey data
    available from outside sources and, to a lesser degree, the
    compensation levels of our other executive officers, each as of
    the time of the applicable compensation decision. Although our
    compensation committee members refer to compensation survey
    data, they do not formally benchmark executive compensation
    against a particular set of comparable companies or use a
    formula to set the compensation for our executives in relation
    to survey data. Substantially all of our compensation
    committee's discussions and decisions about executive
    compensation occur outside of formal meetings through
e-mails
and
    other informal communications. In establishing compensation for
    executive officers other than our CEO, our compensation
    committee gives weight to the recommendations of our CEO, which
    are communicated to the chair of our compensation committee, but
    final decisions about the compensation of our named executive
    officers are typically made solely by our compensation committee.
We expect that the specific direction, emphasis and components
    of our executive compensation program will continue to evolve as
    we gain experience operating as a public company. Accordingly,
    the compensation paid to our named executive officers for fiscal
    2009 is not necessarily indicative of how we will compensate our
    named executive officers following this offering.
Elements of Compensation
Our current executive compensation program consists of the
    following primary components:
•
base salary;
•
variable and other cash incentive awards linked to corporate
and/or
individual objectives; and
•
periodic grants of long-term equity-based awards.
Base Salary.
We seek to provide each member of
    our senior management with a base salary that is appropriate for
    his roles and responsibilities, and that provides him with a
    level of income stability. Our compensation committee reviews
    the base salaries of our executive officers annually, with
    significant input from our CEO, to determine whether any
    adjustment is warranted. In considering a base salary
    adjustment, our compensation committee considers our
    company's overall performance and the executive
    officer's performance, individual contribution, changes in
    responsibilities and prior experience. Our compensation
    committee may also take into account the executive
    officer's current
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salary and equity ownership and the amounts paid to other
    executive officers of our company. Our compensation committee
    relies upon its members' experience with the compensation
    practices of other companies, compensation survey data available
    from outside sources and its members' familiarity with the
    competitive market.
For fiscal 2009, we determined the base salaries of each named
    executive officer by evaluating our company's overall
    performance and his performance, contributions and prior
    experience. Our compensation committee made its compensation
    decisions for fiscal 2009 based on its subjective judgment
    taking into account the available information, including our
    CEO's recommendations and the experience of the members of
    our compensation committee with the compensation practices of
    other companies, compensation survey data available from outside
    sources and their familiarity with the competitive market. After
    careful consideration, in October 2008, our compensation
    committee increased the base salaries of Messrs. Keatley,
    Ricci and Troughton by $50,000 (to $300,000), $25,000 (to
    $275,000) and $50,000 (to $350,000), respectively. Our
    compensation committee made these adjustments to make these base
    salaries more competitive with those of other companies and to
    compensate these named executive officers for increased
    responsibilities associated with our company's growth.
    Consistent with his request, Mr. Streit did not receive a
    base salary increase. Our compensation committee believed
    Mr. Streit's then-current salary level was
    competitive, and his salary, together with his equity ownership
    in our company and vested stock option awards, would serve as an
    effective means of retaining and incentivizing him.
In connection with the hiring of Mr. Sowell as our Chief
    Operating Officer in March 2009, we negotiated an employment
    arrangement with him that provided for an annual base salary of
    $235,000. In negotiating and setting Mr. Sowell's base
    salary, we offered him the amount of compensation we believed
    was necessary to attract a qualified candidate, taking into
    account the other cash compensation and personal benefits
    offered, including Mr. Sowell's $4,000 per month
    housing and travel allowance. See "– Other
    Executive Benefits and Perquisites" for a description of
    this benefit. In July 2009, we increased Mr. Sowell's
    base salary by $50,000 (to $285,000) in recognition of the fact
    that Mr. Sowell's responsibilities within our company
    were greater than originally anticipated and to achieve internal
    equity among our named executive officer team.
The actual base salaries paid to our named executive officers in
    fiscal 2009 are set forth in the "Summary Compensation
    Table" below.
Cash Incentive Awards.
We utilize cash bonuses
    to incentivize our executive officers to achieve company
and/or
individual performance goals on a semi-annual basis, and to
    reward extraordinary accomplishments. We establish bonus targets
    for variable cash incentive awards annually, following the end
    of the fiscal year, and we pay bonuses following the applicable
    performance period (i.e., the first and second halves of each
    fiscal year). Each executive officer's target bonus amount
    is a pre-determined amount that is intended to provide a
    competitive level of compensation if the executive officer
    achieves his performance targets. Performance targets consist of
    one or more company performance objectives
and/or
individual objectives established by our CEO for the particular
    executive officer. In general, we use performance targets to
    ensure that our executive compensation program aligns the
    interests of each of the named executive officers with those of
    our stockholders and that we provide the named executive
    officers with incentives to maximize their efforts throughout
    the year. Our annual variable cash incentive awards are intended
    to compensate our named executive officers for their
    contribution to achieving semi-annual financial goals contained
    in our company financial plan and for success in meeting any
    individual performance objectives. We determine the actual bonus
    award for each named executive officer according to his level of
    achievement of his performance objectives. For more information
    about our variable cash incentive awards, see
    "– FY2009 Management Cash Incentive Compensation
    Plan" below.
Our compensation committee may grant non-plan cash incentive
    awards at any time during the fiscal year to reward an executive
    officer who accomplishes pre-established extraordinary or
    nonrecurring business objectives on behalf of our company. To
    date, the compensation committee has granted these awards
    infrequently. In October 2008, our compensation committee
    approved a $50,000 award
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to Mr. Troughton, conditioned upon his success at securing
    a key commercial agreement on acceptable terms. We paid
    Mr. Troughton this amount in full in January 2009 pursuant
    to the terms of the award.
The actual cash incentive awards paid to our named executive
    officers in fiscal 2009, as determined in accordance with our
    management cash incentive compensation plan (described below) or
    otherwise, are set forth in the "Summary Compensation
    Table" below under the column captioned "Non-Equity
    Incentive Plan Compensation."
FY2009 Management Cash Incentive Compensation
    Plan.
We calculated all variable cash incentive
    awards under our FY2009 Management Cash Incentive Compensation
    Plan by multiplying the individual's on-target bonus amount
    by the percentage of achievement of corporate objectives and, if
    applicable, by the percentage of achievement of individual
    objectives, or IOP. In keeping with past practice, in early
    fiscal 2009 we established no individual objectives for our
    named executive officers for any of the periods under the plan.
    In March 2009, we tied our new Chief Operating Officer's
    cash incentive award to both corporate objectives and individual
    objectives, as explained below.
Target Bonus.
For fiscal 2009, our
    compensation committee set the annual on-target bonus amount for
    each executive officer at a value that it believed would provide
    a competitive level of compensation if the executive officer
    achieved his performance targets, based on its subjective
    judgment taking into account the available information,
    including our CEO's recommendations and its members'
    experience with the compensation practices of other companies,
    compensation survey data available from outside sources and its
    members' familiarity with the competitive market. For
    fiscal 2009, the individual on-target bonus amounts for the
    named executive officers ranged from 15% to 36% of their
    respective base annual salaries. The on-target bonus amounts for
    our named executive officers for fiscal 2009 were as follows:
On-Target
Executive Officer
Bonus Amount
Steven W. Streit
$
75,000
Mark T. Troughton
100,000
John L. Keatley
100,000
John C. Ricci
100,000
William D. Sowell
28,471
(1)
(1)
Mr. Sowell's annual on-target bonus amount was
    $70,500, prorated based on his date of hire of March 2,
    2009. In connection with the hiring of Mr. Sowell as our
    Chief Operating Officer in March 2009, we negotiated an
    employment arrangement with him that provided for an on-target
    bonus amount equal to 30% of his base annual salary, which we
    believed was the level of variable cash incentive compensation
    required to attract qualified candidates and provide the
    candidate selected with appropriate incentives during his first
    year of service.
The actual on-target bonus amounts in each of the applicable
    semi-annual periods were 50% of the amounts stated above. As
    explained below, the actual amount of any variable cash
    incentive award paid to a named executive officer could be less
    than 100% of the applicable on-target bonus amount, depending on
    the percentage of achievement of corporate and individual
    objectives. The management cash incentive compensation plan
    provides that the amount of the actual bonus payment cannot
    exceed the on-target bonus amount.
Our board of directors approves a financial plan for our company
    for each fiscal year and, in practice, that action resets our
    management cash incentive plan for that year, establishing the
    corporate objective under the plan. For fiscal 2009, the bonuses
    were earned and paid semi-annually based upon attainment of the
    semi-annual goals contained in our company financial plan for
    profit before tax, or PBT, which is calculated by adding the
    amount of stock-based compensation to the amount of Income
    before income taxes reflected in our consolidated statements of
    income. PBT was originally chosen as the corporate objective
    under the plan because we believed it to be the best
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indicator of financial success and stockholder value creation
    for our company. We also believe that the focus on PBT as the
    corporate objective discourages inappropriate risk taking by our
    executives as it encourages them to take a balanced approach
    that focuses on corporate profitability. The PBT targets were
    set at levels that were intended to reward the named executive
    officers for achieving results that met our expectations. We
    believe that, to provide for an appropriate incentive effect,
    the goals should be such that to achieve 100% of the objective,
    the performance for the applicable period must be aligned with
    our company financial plan, and that named executive officers
    should not be rewarded for company performance that did not
    approximate our company financial plan. Accordingly, as
    discussed below, we would have paid our named executive officers
    nothing if the minimum achievement threshold level of a
    particular goal was not met, i.e., was less than 90% of the PBT
    target.
For the first and last six months of fiscal 2009, the PBT
    targets under the plan were $24.3 million (145% growth) and
    $36.4 million (69% growth), respectively, and actual
    results were $24.2 million (144% growth) and
    $42.4 million (96% growth), respectively. We determined
    that the company objective percentage was 100% for both periods,
    which under the above formula resulted in 100% of the awards
    being payable to the executive officer participants, subject to
    the impact of any individual objective(s) established for the
    participants.
We may also set individual objectives under our management cash
    incentive compensation plan to promote achievement of
    non-financial operational goals. According to the plan, these
    objectives should be:
•
directly or indirectly linked to our company's achievement
    of its objectives;
•
aspirational – i.e., their achievement should
    represent a bonus-worthy accomplishment; and
•
linked to the executive officer's job description and
    direct responsibilities.
For purposes of the formula contained in the FY2009 Management
    Cash Incentive Compensation Plan, we based the percentage of
    achievement of individual objectives on the degree to which each
    of the objectives is achieved, as determined by the assessments
    and recommendations of our CEO. Any particular individual
    objective that is achieved at less than 90% of the target for
    that objective will be counted as zero, causing the amount that
    has been allocated to the IOP for that objective to be zero and
    reducing the total IOP.
For fiscal 2009, our compensation committee determined not to
    establish individual objectives for our named executive officers
    other than our new Chief Operating Officer, Mr. Sowell,
    because it believed that, in general, their cash incentive
    compensation should be based solely on our financial
    performance. In October 2008, our compensation committee, to
    ensure internal equity among executive officers under the plan,
    approved a $50,000 non-plan incentive award to
    Mr. Troughton that was conditioned upon his success at
    securing a key commercial agreement on acceptable terms and that
    was paid in full in January 2009.
As a managerial decision, in connection with the commencement of
    the employment of our new Chief Operating Officer,
    Mr. Sowell, our CEO established individual objectives for
    Mr. Sowell under our FY2009 Management Cash Incentive
    Compensation Plan for the second half of fiscal 2009. The fiscal
    2009 individual objectives of Mr. Sowell focused on
    operational objectives within his area of responsibility,
    including the re-launch of our Green Dot-branded GPR card,
    integration of PayPal as a network acceptance member and
    developing enterprise processes for coordinating new product
    development and assessing organizational risk. For the last six
    months of fiscal 2009, our CEO determined that Mr. Sowell
    achieved at least 90% of each of the individual objectives
    contained in his cash incentive award. This resulted in an IOP
    of 91.5%, which under the plan formula resulted in 91.5% of the
    on-target bonus award amount being payable to Mr. Sowell.
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Long-Term Equity-Based Awards
We utilize equity awards, principally stock options, to ensure
    that our named executive officers have a continuing stake in our
    long-term success. Because we award our executive officers stock
    options with an exercise price equal to or greater than the fair
    market value of our common stock on the date of grant, the
    determination of which is discussed below, these options will
    have value to our named executive officers only if the market
    price of our common stock increases after the date of grant.
    Typically, our stock options vest and become exercisable at a
    rate of 25% of the shares subject to the option on the first
    anniversary of the grant date, with the remainder of the shares
    vesting monthly in equal installments over the next three years.
    Our board of directors believes that these features of the
    awards align the interests of our named executive officers with
    those of the stockholders because they create the incentive to
    build stockholder value over the long-term. In addition, equity
    awards improve our ability to attract and retain our executives
    by providing compensation that is competitive with market levels.
We typically grant stock options to executive officers upon
    hiring or promotion, in connection with a significant change in
    responsibilities, to recognize extraordinary performance, or to
    achieve internal equity. At least annually, our compensation
    committee
and/or
our
    board of directors review the equity ownership of our executive
    officers and consider whether to make additional awards.
    Typically, our board of directors determines to make equity
    awards upon the recommendation of our compensation committee. In
    making its recommendation or determination, our compensation
    committee or our board of directors (as applicable) takes into
    account, on a subjective basis, various factors. These factors
    include the responsibilities, past performance and anticipated
    future contributions of the executive officer, and the
    competitiveness of the executive's overall compensation
    package, as well as the executive officer's existing equity
    holdings, the extent to which these holdings are vested, the
    potential reward to the executive officer if the market value of
    our common stock appreciates, and the recommendations of our
    CEO. Frequently, the amount of each award is determined with
    reference to a specified percentage of equity ownership in our
    company that is deemed appropriate for the individual, based on
    the foregoing factors.
We grant stock options with an exercise price equal to or
    greater than the fair value of our stock on the applicable date
    of grant. During fiscal 2009, our board of directors determined
    the value of our common stock based on the methodologies and
    other relevant factors discussed under "Management's
    Discussion and Analysis of Financial Condition and Results of
    Operations – Critical Accounting Policies and
    Estimates – Stock-Based Compensation." Upon
    completion of this offering, we expect to determine fair value
    for purposes of stock option pricing based on the closing price
    of our common stock on the NYSE on the date of grant.
During fiscal 2009, our compensation committee reviewed equity
    compensation for the named executive officers and, with input
    from our CEO, determined that it was appropriate to provide
    additional incentive for Messrs. Keatley and Ricci to help
    us achieve our long-term growth objectives. Accordingly, in
    December 2008, upon the recommendation of our compensation
    committee, our board of directors approved grants of options to
    purchase 225,000 and 100,000 shares of our common stock to
    Messrs. Keatley and Ricci, respectively, each with an
    exercise price of $10.75 per share. The determination of the
    number of shares of our common stock underlying each stock
    option grant was made with reference to a specified percentage
    of equity ownership in our company based on our compensation
    committee's recommendation in light of those
    individuals' respective performances, equity ownership and
    level of vesting and the equity positions of our other named
    executive officers. Based on our compensation committee's
    determination that the February 2008 stock option grants to
    Messrs. Streit and Troughton were providing them with
    sufficient incentive to help us achieve our long-term growth
    objectives, our compensation committee did not recommend and our
    board of directors did not grant awards of stock options to
    Messrs. Streit or Troughton in fiscal 2009. However, based
    on our CEO's recommendation, our compensation committee
    converted the vesting terms of an option to purchase
    400,000 shares of our common stock granted to
    Mr. Troughton in February 2008 from vesting conditioned
    upon our achievement of annual revenue goals to time-based
    vesting because, in
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view of our revenue growth during the first eight months of his
    vesting period and other factors, our board of directors
    determined that the performance goals were no longer necessary.
In connection with the hiring of Mr. Sowell in March 2009,
    we negotiated an employment arrangement with him that provided
    for an option to purchase 40,000 shares of our common
    stock, which our compensation committee believed was the level
    of compensation required to attract a qualified candidate and
    retain and provide him with incentives to perform as required
    over the duration of vesting of that award. In March 2009, our
    board of directors approved a grant of options to purchase
    40,000 shares of our common stock to Mr. Sowell with
    an exercise price of $10.84 per share, pursuant to
    Mr. Sowell's employment arrangement. In July 2009, our
    compensation committee recommended that our board of directors
    grant Mr. Sowell an option to purchase 100,000 shares
    of our common stock with an exercise price of $17.19. Our
    compensation committee made this recommendation based on our
    CEO's recommendation and in recognition of the fact that
    Mr. Sowell's responsibilities within our company were
    greater than originally anticipated, as well as to promote
    internal equity among our named executive officer team. This
    award was granted in August 2009.
In the case of each of the stock option grants described above,
    the exercise price of the stock options equaled 100% of the fair
    value on the date of grant in accordance with the terms of the
    2001 Plan. Each stock option vests and becomes exercisable at a
    rate of 25% of the shares subject to the option on the first
    anniversary of the grant date, with the remainder of the shares
    vesting monthly in equal installments over the next three years.
    Each of these stock options has a ten-year term.
In general, our stock option grants to date have been made under
    our 2001 Stock Plan. We expect to adopt a new equity incentive
    plan. The 2010 Equity Incentive Plan will replace our 2001 Stock
    Plan and will afford greater flexibility in making a wide
    variety of equity awards, including stock options, shares of
    restricted stock and stock appreciation rights, to executive
    officers and our other employees. See "Executive
    Compensation – Employee Benefit Plans" for
    descriptions of our 2001 Plan and 2010 Equity Incentive Plan.
Severance and
    Change of Control Agreements
As the result of arm's-length negotiations in connection
    with the offer letter to Mr. Sowell and the employment
    agreement we entered into with Mr. Troughton, we have
    agreed to provide each of them severance benefits if their
    employment is terminated by our company without cause or, in the
    case of Mr. Troughton, if he is constructively terminated
    as a result of a material diminution in pay or duties. In such
    an event, Mr. Sowell would be entitled to continued payment
    of his base salary for twelve months and Mr. Troughton
    would be entitled to continued payment of his base salary for
    six months. The value of our severance arrangements for these
    named executive officers was not a material factor in our
    compensation committee's or our board of directors'
    determination of the level of any other element of their
    compensation.
We have routinely granted and will continue to grant our named
    executive officers stock options under our equity incentive
    plans. As further described in "Executive
    Compensation – Severance and Change of Control
    Agreements" below, some of the option agreements for our
    executive officers provide for acceleration of vesting of the
    awards for up to 100% of the unvested shares in the event of a
    change of control.
Other
    Executive Benefits and Perquisites
We provide the following benefits to our executive officers on
    the same basis as our other eligible employees:
•
health insurance;
•
vacation, personal holidays and sick days;
•
life insurance and supplemental life insurance;
•
short-term and long-term disability; and
•
a 401(k) profit-sharing plan with matching contributions.
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We believe these benefits are generally consistent with those
    offered by other companies and specifically with those companies
    with which we compete for employees.
In addition to the foregoing, we reimburse
    Mr. Streit's cost of insurance premiums under our
    healthcare plans, continuing the benefit we provided him under
    our employment agreement with him that expired in January 2004.
Under the terms of his offer letter, we provide Mr. Sowell
    with a housing and travel allowance of up to $4,000 per month.
    We believed that this personal benefit was necessary to attract
    and retain Mr. Sowell, who resides in Texas and was not
    willing to relocate to the Southern California on a full-time
    basis. In the event that Mr. Sowell terminates his
    employment with us before March 2, 2011, he is required to
    reimburse us for all amounts reimbursed to him under this
    allowance.
Other
    Compensation Practices and Policies
Stock Ownership Guidelines.
We do not
    currently have equity securities ownership guidelines.
Tax Considerations.
Section 162(m) of the
    Internal Revenue Code of 1986, as amended, or the Code,
    disallows a tax deduction for any publicly-held corporation for
    individual compensation exceeding $1.0 million in any
    taxable year for its chief executive officer and each of the
    other named executive officers (other than its chief financial
    officer), unless compensation is performance-based. As we are
    not currently publicly-held, our board of directors has not
    previously taken the deductibility limit imposed by
    Section 162(m) into consideration in setting compensation.
    We expect, however, that our compensation committee will adopt a
    policy that, where reasonably practicable, we will seek to
    qualify the variable compensation paid to our executive officers
    for an exemption from the deductibility limitations of
    Section 162(m). Thus, in approving the amount and form of
    compensation for our executive officers in the future, our
    compensation committee will consider all elements of the cost to
    our company of providing this compensation, including the
    potential impact of Section 162(m). However, our
    compensation committee may, in its judgment, authorize
    compensation payments that do not comply with the exemptions in
    Section 162(m) when it believes these payments are
    appropriate to attract and retain executive talent.
Policy Regarding the Timing of Equity
    Awards.
Because we are a privately-held company,
    there has been no market for our common stock. Accordingly, in
    fiscal 2009, we had no program, plan or practice pertaining to
    the timing of stock option grants to executive officers relative
    to the timing of the release of material nonpublic information.
    We do not, as of yet, have any plans to implement such a
    program, plan or practice after becoming a public company.
    However, we intend to implement policies to ensure that equity
    awards are granted at fair market value on the date that the
    grant occurs.
Policy Regarding Restatements.
We do not have
    a formal policy regarding adjustment or recovery of awards or
    payments if the relevant performance measures upon which they
    are based are restated or otherwise adjusted in a manner that
    would reduce the size of the award or payment. Under those
    circumstances, our board of directors or our compensation
    committee would evaluate whether adjustments or recoveries of
    awards were appropriate based upon the facts and circumstances
    surrounding the restatement.
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Executive
    Compensation Tables
The following table provides information regarding all plan and
    non-plan compensation awarded to, earned by or paid to our
    principal executive officer, our principal financial officer and
    our three other most highly compensated executive officers
    serving as such at July 31, 2009 for all services rendered
    in all capacities to us during fiscal 2009. We refer to these
    five executive officers as our named executive officers.
Summary
    Compensation Table
Non-Equity
Option
Incentive Plan
All Other
Name and Principal Position
Salary(1)
Bonus
Awards(2)
Compensation(3)
Compensation
Total(4)
Steven W. Streit
President and Chief Executive Officer
$
450,000
—
—
$
75,000
$
3,209
(5)
$
528,209
Mark T. Troughton
President, Cards and Network
339,231
—
—
150,000
(6)
—
489,231
John L. Keatley
Chief Financial Officer
289,231
—
1,262,215
100,000
—
1,651,446
John C. Ricci
General Counsel
269,615
—
560,985
100,000
—
930,600
William D. Sowell(7)
Chief Operating Officer
94,904
—
233,055
26,051
24,176
(8)
378,186
(1)
Effective in October 2008, the following named executive
    officers received an increase in annual base salary to the
    amounts set forth after their names:
    Mr. Keatley — $300,000;
    Mr. Troughton — $350,000 and
    Mr. Ricci — $275,000. Effective in July 2009,
    Mr. Sowell received an increase in annual base salary to
    $285,000. Effective in January 2010, the following named
    executive officers received an increase in annual base salary to
    the amounts set forth after their names:
    Mr. Streit — $525,000;
    Mr. Troughton — $475,000;
    Mr. Keatley — $425,000; and
    Mr. Ricci — $350,000.
(2)
The amounts in this column represent the grant date fair values
    for equity awards granted to the named executive officers for
    fiscal 2009 as discussed in note 11 of our notes to
    consolidated financial statements included elsewhere in this
    prospectus. See the "Fiscal 2009 Grants of Plan-Based
    Awards" table for information on stock option grants made
    in fiscal 2009. These amounts reflect our stock-based
    compensation expense for these awards, and do not correspond to
    the actual value that may be recognized by the named executive
    officers.
(3)
The amounts in this column represent total performance-based
    bonuses under our FY2009 Management Cash Incentive Compensation
    Plan earned for services rendered in fiscal 2009.
(4)
The amounts in this column represent the sum of the compensation
    amounts reflected in the other columns of this table.
(5)
Represents a health insurance premium paid on behalf of
    Mr. Streit.
(6)
Includes a $50,000 incentive bonus awarded in January 2009 for
    Mr. Troughton's success at securing a key commercial
    agreement on acceptable terms. This bonus was not awarded under
    our FY2009 Management Cash Incentive Compensation Plan.
(7)
Mr. Sowell joined our company in March 2009 and his
    compensation represents the amount earned from that date through
    the end of fiscal 2009.
(8)
Represents perquisites and personal benefits received in fiscal
    2009 pursuant to Mr. Sowell's housing and travel
    allowance.
In December 2008, we amended an option to purchase
    400,000 shares of our common stock that was granted to
    Mr. Troughton in February 2008 to change the terms of
    vesting from performance-
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based to time-based vesting. See "– Compensation
    Discussion and Analysis– Long-Term
Equity-Based
Awards" above for further discussion of this award.
Following July 31, 2009, we awarded options to purchase
    shares of our Class B common stock to the following
    executive officers on the grant dates, in the amounts and with
    the exercise prices, grant date fair values and expiration dates
    set forth opposite their names:
Number of
Shares
Option
Option
Underlying
Exercise
Grant Date
Expiration
Name
Grant Date
Options
Price
Fair Value
Date
(In thousands)
Steven W. Streit
11/02/09
400,000
$
20.01
$
3,788
11/02/19
Mark T. Troughton
11/02/09
200,000
20.01
1,894
11/02/19
John L. Keatley
11/02/09
150,000
20.01
1,421
11/02/19
John C. Ricci
11/02/09
100,000
20.01
947
11/02/19
William D. Sowell
08/03/09
100,000
17.19
962
08/03/19
These options were granted under our 2001 Stock Plan and vest as
    to 25% of the shares of common stock underlying the option on
    the first anniversary of the vesting commencement date, with the
    remainder vesting monthly in equal installments over the next
    three years.
In December 2009, our board of directors awarded
    257,984 shares of common stock to Mr. Streit to
    compensate him for past services rendered to our company. The
    number of shares awarded was equal to the number of fully-vested
    stock options that were unintentionally allowed to expire
    unexercised in June 2009. The aggregate grant date fair value of
    the December 2009 award was approximately $5.2 million,
    based on an estimated fair value of our common stock of $20.01,
    as determined by our board of directors on the date of the award.
The following table provides information with regard to
    potential cash bonuses paid or payable in fiscal 2009 under our
    performance-based, non-equity incentive plan, and with regard to
    each stock option granted to a named executive officer during
    fiscal 2009. There were no "equity incentive plan
    awards" made in fiscal 2009.
Fiscal 2009
    Grants of Plan-Based Awards
Number of
Shares
Exercise
Estimated Possible Payouts Under
Underlying
Price of
Grant
Non-Equity Incentive Plan Awards
Option
Option
Name
Date
Threshold
Target
Maximum
Awards(1)
Awards(2)
Steven W. Streit
(3
)
$
37,500
$
75,000
$
75,000
Mark T. Troughton
(3
)
50,000
100,000
100,000
(4
)
50,000
50,000
50,000
John L. Keatley
(3
)
50,000
100,000
100,000
12/11/08
225,000
$
10.75
John C. Ricci
(3
)
50,000
100,000
100,000
12/11/08
100,000
10.75
William D. Sowell
(3
)(5)
1,325
32,708
32,708
03/19/09
40,000
10.84
(1)
These option awards vest as to 25% of the shares of common stock
    underlying the option on the first anniversary of the vesting
    commencement date, with the remainder of the shares vesting
    monthly in equal installments over the next three years. All
    options were granted under our 2001 Stock Plan, which is
    described below under "– Employee Benefit
    Plans," and contain provisions that call for accelerated
    vesting upon certain events following a change of control event,
    as discussed above in "– Compensation Discussion
    and Analysis" and below in "– Severance and
    Change of Control Agreements."
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(2)
Represents the fair market value of a share of our common stock,
    as determined by our board of directors, on the option's
    grant date. Please see "Management's Discussion and
    Analysis of Financial Condition and Results of
    Operations – Critical Accounting Policies and
    Estimates –
Stock-Based
Compensation" above for a discussion of how we have valued
    our common stock.
(3)
These rows represent possible cash incentive awards under our
    FY2009 Management Cash Incentive Compensation Plan upon our
    achievement of corporate profit goals. Actual awards are only
    payable if the corporate objectives (i.e., PBT targets) are
    achieved at a level of 90%. Actual awards cannot exceed 100% of
    the target amount and are adjusted downward in the event
    corporate objectives are achieved at a level between 90% and
    100% by subtracting the actual percentage achievement from 100%,
    multiplying that percentage by 5 and subtracting the resulting
    percentage from 100%, which is then multiplied against the
    target bonus amount. Bonuses were paid on a semi-annual basis.
    See "– Compensation Discussion and Analysis"
    above for further discussion of these awards.
(4)
Represents a cash incentive award conditioned upon
    Mr. Troughton's success at securing a key commercial
    agreement on acceptable terms. See
    "– Compensation Discussion and Analysis"
    above for additional information regarding this award.
(5)
Mr. Sowell's award under our FY2009 Management Cash
    Incentive Compensation Plan was also based on individual
    objectives intended to promote achievement of non-financial
    operational goals within his area of responsibility, as further
    discussed in "– Compensation Discussion and
    Analysis" above, including the launch of the new Green
    Dot-branded GPR card, integration of PayPal as a network
    acceptance member and developing enterprise processes for
    coordinating new product development and assessing
    organizational risk.
The following table provides information regarding each
    unexercised stock option held by our named executive officers as
    of July 31, 2009.
Outstanding
    Equity Awards at July 31, 2009
Option
Option
Number of Securities Underlying Unexercised Options(1)
Exercise
Expiration
Name
Exercisable
Unexercisable
Price(2)
Date
Steven W. Streit
536,602
—
$
1.55
6/05/14
95,833
104,167
4.64
2/12/18
Mark T. Troughton
109,375
43,750
1.41
1/17/16
215,625
234,375
4.64
2/12/18
John L. Keatley
4,375
—
1.41
9/15/14
3,125
—
1.41
8/22/15
17,709
6,250
1.41
1/17/16
19,166
9,375
1.41
4/24/16
143,750
156,250
4.64
2/12/18
—
225,000
10.75
12/9/18
John C. Ricci
69,412
—
0.83
4/25/13
218,750
31,250
1.41
1/17/16
59,895
65,105
4.64
2/12/18
—
100,000
10.75
12/9/18
William D. Sowell
—
40,000
10.84
3/17/19
(1)
All options vest as to 25% of the shares of common stock
    underlying the option on the first anniversary of the vesting
    commencement date, with the remainder of the shares vesting
    monthly in equal installments over the next three years.
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(2)
Represents the fair market value of a share of our common stock,
    as determined by our board of directors, on the option's
    grant date. Please see "Management's Discussion and
    Analysis of Financial Condition and Results of
    Operations — Critical Accounting Policies and
    Estimates — Stock-Based Compensation" for a
    discussion of how we have valued our common stock.
No shares were acquired pursuant to the exercise of options by
    our named executive officers during fiscal 2009.
Employment
    Agreements, Offer Letters and Arrangements
Steven W. Streit.
Mr. Streit's
    current annual salary is $525,000, and his maximum bonus under
    our FY2010 Management Cash Incentive Compensation Plan is
    $75,000.
Mark T. Troughton.
Our employment agreement
    with Mr. Troughton, dated July 30, 2004, provides for
    an initial annual salary, eligibility for standard benefits and
    bonus programs and company sponsorship of an application for a
    green card. Mr. Troughton's current annual salary is
    $475,000, and his maximum bonus under our FY2010 Management Cash
    Incentive Compensation Plan is $100,000. This employment
    agreement continues until it is terminated by Mr. Troughton
    or us, and Mr. Troughton is required to provide
    180 days' written notice of his termination. As
    discussed in " – Severance and Change of Control
    Agreements," if we terminate Mr. Troughton without
    cause (as defined in his agreement) or Mr. Troughton
    terminates his employment for good reason (as defined in his
    agreement), we have agreed to pay him six months of his
    then-current salary.
John L. Keatley.
Mr. Keatley's
    current annual salary is $425,000, and his maximum bonus under
    our FY2010 Management Cash Incentive Compensation Plan is
    $100,000. Mr. Keatley's employment is at will and may
    be terminated at any time, with or without formal cause.
John C. Ricci.
Mr. Ricci's current
    annual salary is $350,000, and his maximum bonus under our
    FY2010 Management Cash Incentive Compensation Plan is $100,000.
    Mr. Ricci's employment is at will and may be
    terminated at any time, with or without formal cause.
William D. Sowell.
Our offer letter to
    Mr. Sowell, dated January 28, 2009, provides for an
    initial annual salary and eligibility for our standard benefits
    and bonus programs. Pursuant to the offer letter,
    Mr. Sowell also received an option to purchase
    40,000 shares of our common stock with an exercise price
    equal to the fair market value of our common stock on the date
    of grant. Mr. Sowell's current annual salary is
    $285,000, and his maximum bonus under our FY2010 Management Cash
    Incentive Compensation Plan is 40% of his base salary. In
    addition, we have agreed to provide Mr. Sowell with a
    housing and travel allowance of up to $4,000 per month for
    housing and travel expenses. In the event that Mr. Sowell
    terminates his employment with us before March 2, 2011, he
    will be required to reimburse us for the cumulative amounts
    advanced to him in connection with this allowance.
    Mr. Sowell's employment is at will and may be
    terminated at any time, with or without formal cause. As
    discussed in "– Severance and Change of Control
    Agreements," if we terminate Mr. Sowell's
    employment without cause (as defined in his offer letter), we
    have agreed to pay him twelve months of his then-current salary.
Severance and
    Change of Control Agreements
Mark T. Troughton's Severance
    Arrangement.
Under our employment agreement with
    Mr. Troughton discussed above, we have agreed to pay him
    six months of his then-current salary if we terminate him
    without cause (as defined in his agreement) or he terminates his
    employment for good reason (as defined in his agreement).
    Assuming a qualifying termination as of July 31, 2009,
    Mr. Troughton would have been entitled to receive $175,000
    pursuant to his agreement with us.
William D. Sowell's Severance
    Arrangement.
Under our offer letter with
    Mr. Sowell discussed above, we have agreed to pay him
    twelve months of his then-current salary if we terminate him
    without cause (as defined in his agreement). Assuming a
    qualifying termination as of July 31, 2009, Mr. Sowell
    would have been entitled to receive $285,000 pursuant to his
    offer letter.
Change in Control Arrangements.
Certain option
    agreements for the executive officers listed in the table below
    provide for full vesting of the awards of the unvested shares in
    the event of a change
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in control. The following table summarizes the value of the
    payouts to these executive officers pursuant to these awards,
    assuming a qualifying termination as of July 31, 2009.
    Values are based upon the per share market price of the shares
    of our common stock underlying options as of July 31, 2009,
    which is assumed to be the midpoint of the price range set forth
    on the cover page of this prospectus minus the exercise price:
Accelerated
Name
Stock Options
Steven W. Streit
$
Mark T. Troughton
John L. Keatley
John C. Ricci
William D. Sowell
Employee Benefit
    Plans
2001 Stock
    Plan
Our board of directors adopted, and our stockholders approved,
    our 2001 Stock Plan in January 2001. The 2001 Stock Plan was
    amended and restated in February 2008. The 2001 Stock Plan
    provides for the grant of both incentive stock options, which
    qualify for favorable tax treatment to their recipients under
    Section 422 of the Code and nonstatutory stock options, as
    well as for the issuance of shares of restricted stock. We may
    grant incentive stock options only to our employees. We may
    grant nonstatutory stock options to our employees, directors,
    consultants, independent contractors and advisors. The exercise
    price of each stock option must be at least equal to the fair
    market value of our common stock on the date of grant. The
    exercise price of incentive stock options granted to 10%
    stockholders must be at least equal to 110% of the fair market
    value of our common stock on the date of grant. The maximum
    permitted term of options granted under our 2001 Stock Plan is
    ten years. In the event of a "change in control," as
    defined in the 2001 Stock Plan, the 2001 Stock Plan provides
    that, unless the applicable option agreement provides otherwise,
    options held by current employees, directors and consultants
    will vest in full if they are not assumed or substituted or if
    the employee, director or consultant is involuntarily terminated
    within six months of the change in control.
As of October 31, 2009, we had reserved
    9,943,134 shares of our common stock for issuance under our
    2001 Stock Plan. As of October 31, 2009, options to
    purchase 4,489,536 of these shares had been exercised, options
    to purchase 4,963,547 of these shares remained outstanding and
    443,075 of these shares remained available for future grant. In
    addition, we had granted restricted stock awards for
    46,985 shares of common stock. The options outstanding as
    of October 31, 2009 had a weighted average exercise price
    of $4.25. Our 2010 Equity Incentive Plan will be effective upon
    the date of this prospectus. As a result, we will not grant any
    additional options under the 2001 Stock Plan following that date
    and the 2001 Stock Plan will terminate. However, any outstanding
    options granted under the 2001 Stock Plan will remain
    outstanding, subject to the terms of our 2001 Stock Plan and
    stock option agreements, until they are exercised or until they
    terminate or expire by their terms. Options granted under the
    2001 Stock Plan have terms similar to those described below with
    respect to options granted under our 2010 Equity Incentive Plan,
    except
    that          .
2010 Equity
    Incentive Plan
We anticipate that we will adopt a 2010 Equity Incentive Plan
    that will become effective on the date of this prospectus and
    will serve as the successor to our 2001 Stock Plan. We
    anticipate that we will
    reserve           shares
    of our common stock to be issued under our 2010 Equity Incentive
    Plan. In addition, the following shares will again be available
    for grant and issuance under our 2010 Equity Incentive Plan:
•
shares subject to options granted under our 2010 Equity
    Incentive Plan that cease to be subject to the option for any
    reason other than exercise of the option;
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•
shares subject to awards granted under our 2010 Equity Incentive
    Plan that are subsequently forfeited or repurchased by us at the
    original issue price; and
•
shares subject to awards granted under our 2010 Equity Incentive
    Plan that otherwise terminate without shares being issued.
We anticipate that our 2010 Equity Incentive Plan will terminate
    ten years from the date our board of directors approves the
    plan, unless it is terminated earlier by our board of directors.
    Our 2010 Equity Incentive Plan authorizes the award of stock
    options, restricted stock awards, stock appreciation rights,
    restricted stock units and stock bonuses. No person will be
    eligible to receive more
    than           shares
    in any calendar year under our 2010 Equity Incentive Plan other
    than a new employee of ours, who will be eligible to receive no
    more
    than           shares
    under the plan in the calendar year in which the employee
    commences employment.
Our 2010 Equity Incentive Plan will be administered by our
    compensation committee, all of the members of which are
    non-employee directors under applicable federal securities laws
    and outside directors as defined under applicable federal tax
    laws. The compensation committee will have the authority to
    construe and interpret our 2010 Equity Incentive Plan, grant
    awards and make all other determinations necessary or advisable
    for the administration of the plan.
We anticipate that our 2010 Equity Incentive Plan will provide
    for the grant of incentive stock options that qualify under
    Section 422 of the Code only to our employees. All awards
    other than incentive stock options may be granted to our
    employees, directors, consultants, independent contractors and
    advisors, provided the consultants, independent contractors and
    advisors render services not in connection with the offer and
    sale of securities in a capital-raising transaction. The
    exercise price of stock options must be at least equal to the
    fair market value of our common stock on the date of grant. The
    exercise price of incentive stock options granted to 10%
    stockholders must be at least equal to 110% of that value.
Our compensation committee may provide for options to be
    exercised only as they vest or to be immediately exercisable
    with any shares issued on exercise being subject to our right of
    repurchase that lapses as the shares vest. In general, options
    will vest over a four-year period. The maximum term of options
    granted under our 2010 Equity Incentive Plan is ten years.
A restricted stock award is an offer by us to sell shares of our
    common stock subject to restrictions. The price (if any) of a
    restricted stock award will be determined by the compensation
    committee. Unless otherwise determined by the compensation
    committee at the time of award, vesting will cease on the date
    the participant no longer provides services to us and unvested
    shares will be forfeited to us.
Stock appreciation rights provide for a payment, or payments, in
    cash or shares of our common stock, to the holder based upon the
    difference between the fair market value of our common stock on
    the date of exercise and the stated exercise price up to a
    maximum amount of cash or number of shares. Stock appreciation
    rights may vest based on time or achievement of performance
    conditions.
Restricted stock units represent the right to receive shares of
    our common stock at a specified date in the future, subject to
    forfeiture of that right because of termination of employment or
    failure to achieve certain performance conditions. If a
    restricted stock unit has not been forfeited, then on the date
    specified in the restricted stock unit agreement, we will
    deliver to the holder of the restricted stock unit whole shares
    of our common stock (which may be subject to additional
    restrictions), cash or a combination of our common stock and
    cash.
Stock bonuses may be granted as additional compensation for
    service and/ or performance, and therefore, not be issued in
    exchange for cash.
Awards granted under our 2010 Equity Incentive Plan may not be
    transferred in any manner other than by will or by the laws of
    descent and distribution or as determined by our compensation
    committee. Unless otherwise restricted by our compensation
    committee, awards that are nonstatutory stock options may be
    exercised during the lifetime of the optionee only by the
    optionee, the optionee's guardian or legal representative,
    or a family member of the optionee who has acquired the option
    by a
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permitted transfer. Awards that are incentive stock options may
    be exercised during the lifetime of the optionee only by the
    optionee or the optionee's guardian or legal
    representative. Options granted under our 2010 Equity Incentive
    Plan generally may be exercised for a period of three months
    after the termination of the optionee's service to us.
    Options will generally terminate immediately upon termination of
    employment for cause.
If we are dissolved or liquidated or have a change in control
    transaction, outstanding awards, including any vesting
    provisions, may be assumed or substituted by the successor
    company. Outstanding awards that are not assumed or substituted
    will expire upon the dissolution, liquidation or closing of a
    change in control transaction. In the discretion of our
    compensation committee, the vesting of these awards may be
    accelerated upon the occurrence of these types of transactions.
401(k)
    Plan
We sponsor a retirement plan intended to qualify for favorable
    tax treatment under Section 401(k) of the Code. Employees
    who have attained at least 21 years of age are generally
    eligible to participate in the plan on the first day of the
    calendar month following the month in which employees commence
    service with us. Participants may make pre-tax contributions to
    the plan from their eligible earnings up to the statutorily
    prescribed annual limit on pre-tax contributions under the Code.
    Participants who are 50 years of age or older may
    contribute additional amounts based on the statutory limits for
catch-up
contributions. We also make a matching contribution equal to 50%
    of the first 6% of the eligible earnings that a participant
    contributes to the plan. Pre-tax contributions by participants
    and any employer contributions that we make to the plan and the
    income earned on those contributions are generally not taxable
    to participants until withdrawn. Employer contributions that we
    make to the plan are generally deductible when made. Participant
    contributions are held in trust as required by law. No minimum
    benefit is provided under the plan. An employee's interest
    in his or her pre-tax deferrals is 100% vested when contributed.
    We are permitted to contribute to the plan on a discretionary
    basis and did contribute $73,000, $8,000 and $58,000 for the
    years ended July 31, 2007, 2008 and 2009, respectively.
Limitation of
    Liability and Indemnification of Directors and
    Officers
Our restated certificate of incorporation contains provisions
    that limit the liability of our directors for monetary damages
    to the fullest extent permitted by Delaware law. Consequently,
    our directors will not be personally liable to us or our
    stockholders for monetary damages for any breach of fiduciary
    duties as directors, except for liability:
•
for any breach of their duty of loyalty to our company or our
    stockholders;
•
for any act or omission not in good faith or that involves
    intentional misconduct or a knowing violation of law;
•
unlawful payments of dividends or unlawful stock repurchases or
    redemptions as provided in Section 174 of the Delaware
    General Corporation Law; or
•
for any transaction from which they derived an improper personal
    benefit.
Our restated bylaws provide that we will indemnify, to the
    fullest extent permitted by law, any person who is or was a
    party or is threatened to be made a party to any action, suit or
    proceeding by reason of the fact that he or she is or was one of
    our directors or officers or is or was serving at our request as
    a director or officer of another corporation, partnership, joint
    venture, trust or other enterprise. Our restated bylaws provide
    that we may indemnify to the fullest extent permitted by law any
    person who is or was a party or is threatened to be made a party
    to any action, suit or proceeding by reason of the fact that he
    or she is or was one of our employees or agents or is or was
    serving at our request as an employee or agent of another
    corporation, partnership, joint venture, trust or other
    enterprise. Our restated bylaws also provide that we must
    advance expenses incurred by or on behalf of a director or
    officer in advance of the final disposition of any action or
    proceeding, subject to very limited exceptions.
We have obtained insurance policies under which, subject to the
    limitations of the policies, coverage is provided to our
    directors and officers against loss arising from claims made by
    reason of
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breach of fiduciary duty or other wrongful acts as a director or
    officer, including claims relating to public securities matters,
    and to us with respect to payments that may be made by us to
    these officers and directors pursuant to our indemnification
    obligations or otherwise as a matter of law.
Prior to completion of this offering, we intend to enter into
    indemnification agreements with each of our directors and
    executive officers that may be broader than the specific
    indemnification provisions contained in the Delaware General
    Corporation Law. These indemnification agreements may require
    us, among other things, to indemnify our directors and executive
    officers against liabilities that may arise by reason of their
    status or service. These indemnification agreements may also
    require us to advance all expenses incurred by the directors and
    executive officers in investigating or defending any such
    action, suit or proceeding. We believe that these agreements are
    necessary to attract and retain qualified individuals to serve
    as directors and executive officers.
At present, we are not aware of any pending litigation or
    proceeding involving any person who is or was one of our
    directors, officers, employees or other agents or is or was
    serving at our request as a director, officer, employee or agent
    of another corporation, partnership, joint venture, trust or
    other enterprise, for which indemnification is sought, and we
    are not aware of any threatened litigation that may result in
    claims for indemnification.
The underwriting agreement provides for indemnification by the
    underwriters of us and our officers, directors and employees for
    certain liabilities arising under the Securities Act or
    otherwise.
Insofar as indemnification for liabilities arising under the
    Securities Act may be permitted to directors, officers or
    persons controlling our company pursuant to the foregoing
    provisions, we have been informed that, in the opinion of the
    SEC, such indemnification is against public policy as expressed
    in the Securities Act and is therefore unenforceable.
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TRANSACTIONS WITH
    RELATED PARTIES, FOUNDERS AND CONTROL PERSONS
In addition to the compensation arrangements, including
    employment, termination of employment and
change-in-control
arrangements and indemnification arrangements, discussed, when
    required, above under "Management" and "Executive
    Compensation," and the registration rights described below
    under "Description of Capital stock –
    Registration Rights," the following is a description of
    each transaction since August 1, 2006 and each currently
    proposed transaction in which:
•
we have been or are to be a participant;
•
the amount involved exceeded or exceeds $120,000; and
•
any of our directors, executive officers or holders of more than
    5% of our capital stock, or any immediate family member of or
    person sharing the household with any of these individuals, had
    or will have a direct or indirect material interest.
Repurchase of
    Common and Preferred Stock
In January 2007, we repurchased 2,926,458 shares of our
    capital stock for $6.8342 per share, or an aggregate of
    $20.0 million. As part of this transaction, we repurchased
    shares of our common stock from certain of our directors,
    executive officers and holders of more than 5% of our capital
    stock, as follows: Steven W. Streit –
    1,359,892 shares; TTP Fund, L.P. –
    199,711 shares; Mark T. Troughton –
    48,483 shares; and John C. Ricci –
    5,294 shares. In addition, Kenneth C. Aldrich donated
    36,115 shares of our common stock to a charitable
    organization, which were repurchased by us in connection with
    the January 2007 repurchase transaction.
Series C-2
Preferred Stock Financing
In December 2008, we issued and sold 1,181,818 shares of
Series C-2
Preferred Stock for $11.00 per share, or $13.0 million. All
    shares in the financing were sold to entities affiliated with
    Sequoia Capital, a holder of more than 5% of our capital stock,
    as follows: Sequoia Capital Franchise Fund –
    775,774 shares, Sequoia Capital IX.1 Holdings
    LLC – 288,247 shares, Sequoia Capital Franchise
    Partners – 105,787 shares and Sequoia Capital
    Entrepreneurs Annex Fund – 12,010 shares.
    Each of the shares of
Series C-2
Preferred Stock will automatically convert into one share of our
    Class B common stock immediately prior to the closing of
    this offering. The proceeds from this offering were used to
    repurchase a portion of our Series D Preferred Stock.
Series D
    Preferred Stock Repurchase
In December 2008, we repurchased all of our 2,926,458
    outstanding shares of Series D Preferred Stock from GE
    Capital Equity Investments, Inc., then a holder of more than 5%
    of our capital stock and an affiliate of Michael S. Fisher, a
    former member of our board of directors, for $13.38 per share,
    or approximately $39.2 million. As part of this
    transaction, we also purchased a call option that gave us the
    right to repurchase from GE Capital Equity Investments, Inc. an
    outstanding warrant to purchase 500,000 shares of our
    common stock. This call option was exercisable at any time
    between March 1, 2009 and September 1, 2009. In June
    2009, we exercised the call option and repurchased the warrant
    for $2.0 million.
Warrant
    Exercises
In November 2006, Donald B. Wiener, a former member of our board
    of directors, exercised warrants to purchase 224,132 shares
    of our Class B common stock for his own account and on
    behalf of a number of individuals who have appointed him to be
    their attorney-in-fact with respect to certain matters related
    to interests in our capital stock.
In March 2007, David W. Hanna, Trustee, David William Hanna
    Trust dated October 30, 1989, exercised warrants to
    purchase 145,348 shares of our Class B common stock.
    Mr. Hanna is the spouse of Virginia L. Hanna, a member of
    our board of directors.
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Loans to
    Executive Officers
In March 2004 and February 2006, we loaned $3.0 million and
    $800,000, respectively, to Steven W. Streit, our Chairman,
    President and Chief Executive Officer. These loans bore interest
    at rates of 3.5% and 4.5%, respectively, compounded
    semi-annually, and would have matured in March 2011. The notes
    were secured by 2,500,000 shares of our common stock owned
    by Mr. Streit. In November 2009, Mr. Streit repaid in
    full the principal and all accrued interest under these notes.
In May 2006, we loaned $622,000 to Mark T. Troughton, our
    President, Cards and Network, and monthly from June 2006 through
    October 2006, we loaned him $17,800. In May 2008, we loaned him
    an additional $364,000. These loans, aggregating
    $1.1 million, bore interest at rates of 2.72% to 5.14%,
    compounded annually, and would have matured in May 2013. They
    were secured by 898,000 shares of our common stock owned by
    Mr. Troughton. In November 2009, Mr. Troughton repaid
    in full the principal and all accrued interest under this note.
In February 2008, we loaned $120,000 to John L. Keatley, our
    Chief Financial Officer. This loan bore interest at the rate of
    3.48%, compounded semi-annually, and would have matured in
    February 2015. It was secured by 85,000 shares of our
    common stock. In November 2009, Mr. Keatley repaid in full
    the principal and all accrued interest under this note.
Review, Approval
    or Ratification of Transactions with Related Parties
Our policy and the charters of the nominating and governance
    committee and the audit committee adopted by our board of
    directors
    on          ,
    2010 require that any transaction with a related party that must
    be reported under applicable rules of the SEC (other than
    compensation-related matters) must be reviewed and approved or
    ratified by the nominating and governance committee, unless the
    related party is, or is associated with, a member of that
    committee, in which event the transaction must be reviewed and
    approved by the audit committee. These committees have not
    adopted policies or procedures for review of, or standards for
    approval of, related party transactions.
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PRINCIPAL AND
    SELLING STOCKHOLDERS
The following table presents information as to the beneficial
    ownership of our common stock as of February 22, 2010, and
    as adjusted to reflect our sale of Class A common stock in
    this offering assuming no exercise of the underwriters'
    option to purchase additional shares, by:
•
each stockholder known by us to be the beneficial owner of more
    than 5% of our common stock;
•
each of our directors;
•
each of our named executive officers;
•
all of our directors and executive officers as a group; and
•
each selling stockholder.
Beneficial ownership is determined in accordance with the rules
    of the SEC and thus represents sole or shared voting or
    investment power with respect to our securities. Unless
    otherwise indicated below, to our knowledge, the persons and
    entities named in the table have sole voting and sole investment
    power with respect to all shares that they beneficially owned,
    subject to community property laws where applicable. Shares of
    our common stock subject to options or warrants that are
    currently exercisable or exercisable within 60 days of
    February 22, 2010 are deemed to be outstanding and to be
    beneficially owned by the person holding the option or warrant
    for the purpose of computing the percentage ownership of that
    person but are not treated as outstanding for the purpose of
    computing the percentage ownership of any other person.
Percentage ownership of our common stock before this offering is
    based on 37,017,459 shares of our Class B common stock
    outstanding on February 22, 2010, which includes
    24,941,521 shares of common stock resulting from the
    automatic conversion of all outstanding shares of our preferred
    stock upon the completion of this offering, as if this
    conversion had occurred as of February 22, 2010. Percentage
    ownership of our Class A and Class B common stock
    after the offering also assumes our sale
    of           shares
    of Class A common stock by us and the automatic conversion
    of           shares
    Class B common stock
    into           shares
    of Class A common stock in connection with and immediately
    prior to the sale of such shares in this offering. Unless
    otherwise indicated, the address of each of the individuals and
    entities named below is
c/o Green
Dot Corporation, 605 East Huntington Drive, Suite 205,
    Monrovia, California 91016.
Shares Beneficially
Shares Beneficially Owned Prior to
Owned after
the Offering
Shares of
the Offering
Class B
Class A
Class A
Class B
% Total
Common Stock
Common Stock
Common Stock
Common Stock
Voting
Name and Address of Beneficial Owner
Shares
%†
Being Offered
Shares
%††
Shares
%††
Power†††
Sequoia Capital(1)
12,099,373
32.7
%
Michael J. Moritz
Steven W. Streit(2)
5,011,521
13.3
TTP Fund, L.P.(3)
4,106,783
11.1
W. Thomas Smith Jr.
Mark T. Troughton(4)
1,191,991
3.2
Virginia L. Hanna(5)
1,176,790
3.2
Timothy R. Greenleaf(6)
580,879
1.6
YKA Partners Ltd.(7)
400,630
1.1
Kenneth C. Aldrich
John C. Ricci(8)
384,244
1.0
John L. Keatley(9)
345,708
*
William D. Sowell(10)
10,833
*
William H. Ott, Jr.
—
—
All directors and executive officers as a group
    (11 persons)(11)
25,308,752
65.1
Other selling stockholders(12)
*
Represents beneficial ownership of less than 1% of our
    outstanding shares of common stock.
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**
The shares of Class A common stock being offered will be
    acquired through the exercise of options at the closing of the
    offering, and thus the number of shares shown in the footnotes
    as being subject to options will be reduced by the same number
    after the offering.
†
Each share of Class B common stock is immediately
    convertible into one share of Class A common stock. As of
    February 22, 2010, there were no shares of Class A
    common stock outstanding. Accordingly, as of February 22,
    2010, the percentage of Class B shares beneficially owned
    by each person is equal to both the total beneficial ownership
    percentage and the percentage of total voting power.
††
Each share of Class B common stock is immediately
    convertible into one share of Class A common stock.
    Accordingly, for the purpose of computing the percentage of
    Class A shares beneficially owned by each person who holds
    Class B common stock after the offering, each share of
    Class B common stock is deemed to have been converted into
    a share of Class A common stock, but such shares of
    Class B common stock are not deemed to have been converted
    into Class A common stock for the purpose of computing the
    percentage ownership of any other person.
†††
Holders of Class A common stock are entitled to one vote
    per share and holders of Class B common stock are entitled
    to ten votes per share. Holders of common stock vote together as
    a single class on all matters submitted to a vote of
    stockholders, unless otherwise required by law. For the purpose
    of computing the percentage of total voting power after the
    offering, each share of Class B common stock is deemed not
    to have been converted into a share of Class A common
    stock, and thus represents 10 votes per share.
(1)
Represents 7,778,099 shares owned by Sequoia Capital
    Franchise Fund, 1,850,387 shares owned by Sequoia Capital
    IX, 1,246,945 shares owned by Sequoia Capital US Growth
    Fund IV, L.P., 1,060,650 shares owned by Sequoia
    Capital Franchise Partners and 163,292 shares owned by
    Sequoia Capital Entrepreneurs Annex Fund. SCFF Management,
    LLC is the sole general partner of Sequoia Capital Franchise
    Fund and Sequoia Capital Franchise Partners. SCIX Management,
    LLC is the sole general partner of Sequoia Capital IX and
    Sequoia Capital Entrepreneurs Annex Fund. SCGF IV Management, LP
    (Cayman) is the mid-tier general partner and SCGF GenPar, Ltd.
    (Cayman) is the top tier general partner of Sequoia Capital US
    Growth Fund IV, LP. Michael J. Moritz, one of our
    directors, is a Managing Director of SCGF GenPar, Ltd. (Cayman),
    and he is a Managing Member of SCFF Management, LLC, SCIX
    Management, LLC, SCGF IV Management, LP and SCGF IV Management,
    LP (Cayman). Mr. Moritz may be deemed to have shared voting
    and investment power over the shares held by Sequoia Capital
    Franchise Fund, Sequoia Capital IX, Sequoia Capital US Growth
    Fund IV, L.P., Sequoia Capital Franchise Partners and
    Sequoia Capital Entrepreneurs Annex Fund, as applicable.
    Mr. Moritz disclaims beneficial ownership of such shares,
    except to the extent of his pecuniary interest therein. The
    address for Mr. Moritz and each of these entities is 3000
    Sand Hill Road, Building 4, Suite 250, Menlo Park,
    California 94025.
(2)
Represents 4,311,713 shares owned by the Steven W. Streit
    Family Trust, of which Mr. Streit is the trustee,
    34,040 shares owned by his children and 665,768 shares
    subject to options held by Steven W. Streit that are exercisable
    within 60 days of February 22, 2010.
(3)
W. Thomas Smith, Jr., one of our directors, is a managing
    partner of Total Technology Ventures, LLC, the general partner
    of TTP Fund, L.P. The other managing partner is Gardiner W.
    Garrard. The address for TTP Fund, L.P. is 1230 Peachtree
    Street, Promenade II, Suite 1190, Atlanta, Georgia 30309.
(4)
Includes 443,750 shares subject to options held by
    Mr. Troughton that are exercisable within 60 days of
    February 22, 2010.
(5)
Represents 1,029,955 shares held by the David William Hanna
    Trust dated October 30, 1989, 78,635 shares held by
    Tim J. Morgan, Trustee, of the Hanna 2008 Annuity
    Trust Dated 6/5/08 and 68,200 shares held by the
    Virginia L. Hanna Trust dated August 16, 2001.
    Ms. Hanna disclaims beneficial ownership of the shares held
    by the David William Hanna Trust dated
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October 30, 1989 and the shares held by Tim J. Morgan,
    Trustee of the Hanna 2008 Annuity Trust dated 6/5/08, except to
    the extent of her economic interest therein. The address of
    these trusts is
c/o Hanna
Capital Management, 8105 Irvine Center Drive, Suite 1170,
    Irvine, California 92618.
(6)
Represents 330,190 shares held by The Greenleaf Family
    Trust Dated May 16, 1999, of which Timothy R.
    Greenleaf is the trustee, and 250,689 shares held by
    Mr. Greenleaf.
(7)
Represents shares held by YKA Partners Ltd., of which Kenneth C.
    Aldrich, one of our directors, is the agent of the general
    partner.
(8)
Represents 5,234 shares held by John C. Ricci,
    4,460 shares held by his minor children and
    374,550 shares subject to options held by John C. Ricci
    that are exercisable within 60 days of February 22,
    2010.
(9)
Represents 25,000 shares held by John L. Keatley,
    3,000 shares held by his minor daughters and
    317,708 shares subject to options held by Mr. Keatley
    that are exercisable within 60 days of February 22,
    2010. This amount does not include 10,000 shares held by
    the Keatley Family Trust, of which he is neither a trustee nor a
    beneficiary.
(10)
Represents shares subject to options held by Mr. Sowell
    that are exercisable within 60 days of February 22,
    2010.
(11)
Includes 1,812,609 shares subject to options that are
    exercisable within 60 days of February 22, 2010.
(12)
Represents           shares
    held
    by          
    selling stockholders, no one of whom owns more than 1% of our
    outstanding shares of common stock or is selling more than
    shares.
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The following table presents information as to the beneficial
    ownership of our common stock as of February 22, 2010, and
    as adjusted to reflect our sale of Class A common stock in
    this offering assuming exercise in full of the
    underwriters' option to purchase additional shares, by:
•
each stockholder known by us to be the beneficial owner of more
    than 5% of our common stock;
•
each of our directors;
•
each of our named executive officers;
•
all of our directors and executive officers as a group; and
•
each selling stockholder.
Beneficial ownership is determined on the same basis described
    in the previous table, including the footnotes.
Shares Beneficially Owned
after Offering if the
Number of Shares
Underwriters' Option is
to be Sold if the
Exercised in Full
Underwriters'
Class A
Class B
% Total
Option is
Common Stock
Common Stock
Voting
Name and Address of Beneficial Owner
Exercised in Full
Shares
%
Shares
%
Power
Sequoia Capital
Michael J. Moritz
Steven W. Streit
TTP Fund, L.P.
W. Thomas Smith Jr.
Virginia L. Hanna
Mark T. Troughton
Timothy R. Greenleaf
YKA Partners Ltd.
Kenneth C. Aldrich
John C. Ricci
John L. Keatley
William D. Sowell
William H. Ott, Jr.
All directors and executive officers as a group (11 persons)
Other selling stockholders
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DESCRIPTION OF
    CAPITAL STOCK
Upon the completion of this offering, our authorized capital
    stock will consist
    of          shares
    of Class A common stock, $0.001 par value per
    share,          shares
    of Class B common stock, $0.001 par value per share,
    and 5,000,000 shares of undesignated preferred stock,
    $0.001 par value per share. The following description
    summarizes the most important terms of our capital stock.
    Because it is only a summary, it does not contain all the
    information that may be important to you. For a complete
    description, you should refer to our restated certificate of
    incorporation and restated bylaws, which are included as
    exhibits to the registration statement of which this prospectus
    forms a part, and to the provisions of applicable Delaware law.
Common
    Stock
As of October 31, 2009, there were no shares of our
    Class A common stock outstanding. Assuming the conversion
    of all shares of our preferred stock into shares of our
    Class B common stock, which will occur immediately prior to
    the closing of this offering, as of October 31, 2009, there
    were 37,017,459 shares of our Class B common stock
    outstanding, held
    by          
    stockholders of record, and no shares of our preferred stock
    outstanding. After this offering, there will
    be          shares
    of our Class A common stock
    and           shares
    of our Class B common stock
    and          shares
    of our Class B common stock outstanding. Our board of
    directors is authorized, without stockholder approval, to issue
    additional shares of Class A and Class B common stock.
Dividend Rights.
Subject to preferences that
    may apply to any shares of preferred stock outstanding at the
    time, the holders of outstanding shares of our Class A and
    Class B common stock are entitled to receive dividends out
    of funds legally available at the times and in the amounts that
    our board of directors may determine.
Voting Rights.
Holders of our Class A and
    Class B common stock have identical rights, except that
    holders of our Class A common stock are entitled to one
    vote per share and holders of our Class B common stock are
    entitled to 10 votes per share. Holders of shares of our
    Class A common stock and Class B common stock will
    vote together as a single class on all matters (including the
    election of directors) submitted to a vote of stockholders,
    unless otherwise required by law. Delaware law could require
    either our Class A common stock or our Class B common
    stock to vote separately as a single class in the following
    circumstances:
•
If we were to seek to amend our certificate of incorporation to
    increase the authorized number of shares of a class of stock, or
    to increase or decrease the par value of a class of stock, then
    that class would be required to vote separately to approve the
    proposed amendment; and
•
If we were to seek to amend our certificate of incorporation in
    a manner that altered or changed the powers, preferences or
    special rights of a class of stock in a manner that affected
    them adversely, then that class would be required to vote
    separately to approve the proposed amendment.
We have not provided for cumulative voting for the election of
    directors in our certificate of incorporation.
No Preemptive or Similar Rights.
Neither our
    Class A nor our Class B common stock is entitled to
    preemptive rights, and neither is subject to redemption.
Conversion.
Our Class A common stock is
    not convertible into any other shares of our capital stock. Each
    share of our Class B common stock is convertible at any
    time at the option of the holder into one share of our
    Class A common stock. In addition, each share of our
    Class B common stock will convert automatically into one
    share of our Class A common stock upon any transfer,
    whether or not for value, except for estate planning,
    intercompany and other similar transfers or upon the date that
    the total number of shares of our Class B common stock
    outstanding represents less than 10% of the total number of
    shares of our Class A and Class B common stock
    outstanding. Once transferred and converted into Class A
    common stock, the Class B common stock may not be reissued.
    No class
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of our common stock may be subdivided or combined unless the
    other class of our common stock concurrently is subdivided or
    combined in the same proportion and in the same manner.
Right to Receive Liquidation
    Distributions.
Upon our liquidation, dissolution
    or
winding-up,
the assets legally available for distribution to our
    stockholders would be distributable ratably among the holders of
    our Class A and Class B common stock and any
    participating preferred stock outstanding at that time after
    payment of liquidation preferences, if any, on any outstanding
    shares of preferred stock and payment of other claims of
    creditors.
Fully Paid and Non-Assessable.
All of the
    outstanding shares of our Class B common stock are, and the
    shares of our Class A common stock to be issued pursuant to
    this offering will be, fully paid and non-assessable.
Preferred
    Stock
Following this offering, our board of directors will be
    authorized, subject to limitations prescribed by Delaware law,
    to issue preferred stock in one or more series, to establish
    from time to time the number of shares to be included in each
    series, and to fix the designation, powers, preferences and
    rights of the shares of each series and any of its
    qualifications, limitations or restrictions, in each case
    without further action by our stockholders. Our board of
    directors can also increase or decrease the number of shares of
    any series of preferred stock, but not below the number of
    shares of that series then outstanding, unless approved by the
    affirmative vote of the holders of a majority of our capital
    stock entitled to vote, or such other vote as may be required by
    the certificate of designation establishing the series. Our
    board of directors may authorize the issuance of preferred stock
    with voting or conversion rights that could adversely affect the
    voting power or other rights of the holders of our common stock.
    The issuance of preferred stock, while providing flexibility in
    connection with possible acquisitions and other corporate
    purposes, could, among other things, have the effect of
    delaying, deferring or preventing a change in our control and
    might adversely affect the market price of our common stock and
    the voting and other rights of the holders of our common stock.
    We have no current plan to issue any shares of preferred stock.
Warrants
As of October 31, 2009, we had outstanding the following
    warrants to purchase shares of our capital stock:
Total Number of
Shares Subject
Exercise Price
Type of Capital Stock
to Warrants
per Share
Expiration Date
Class B common stock*
4,283,456(1
)
$
23.70
March 3, 2017(2)
Series C-1
preferred stock(3)
283,786
1.41
February 11, 2012
*
This warrant is redeemable for cash if we fail to perform under
    our commercial agreement with the holder. In addition, we have
    the right to repurchase any shares previously issued upon the
    exercise of the warrant if the holder fails to perform under the
    same agreement.
(1)
Of these shares, 3,426,765 shares will vest and become
    exercisable only upon the achievement of certain performance
    goals prior to the earlier of March 3, 2014 or the
    termination of our commercial agreement with the holder, and the
    remaining shares will vest and become exercisable only if
    certain other performance goals also take place prior to the
    same deadline.
(2)
The warrant may expire earlier than this date. The warrant
    provides that it expires on the earlier of March 3, 2014 or
    the termination of our commercial agreement with the holder if
    none of the shares subject to the warrant have vested prior to
    the earlier event. Should any of the shares subject to the
    warrant vest, the warrant expires on the earliest of the date on
    which our commercial agreement with the holder is terminated,
    the date of a change in control of our company or March 3,
    2017.
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(3)
Any warrants to purchase shares of our
Class C-1
preferred stock that remain outstanding following the completion
    of this offering will become exercisable for a like number of
    shares of our Class B common stock.
Registration
    Rights
Pursuant to the terms of our eighth amended and restated
    registration rights agreement, immediately following this
    offering, the holders of
    approximately           shares
    of our Class B common stock will be entitled to rights with
    respect to the registration of these shares under the Securities
    Act, as described below.
Demand Registration Rights.
At any time
    beginning six months after the completion of this offering, the
    holders of at least 50% of the then-outstanding shares having
    registration rights can request that we file a registration
    statement covering registrable securities with an anticipated
    aggregate offering price of at least $5.0 million. We are
    only required to file two registration statements upon exercise
    of these demand registration rights. We may postpone the filing
    of a registration statement for up to 90 days once in a
12-month
period if we determine that the filing would be detrimental to
    us.
Piggyback Registration Rights.
If we register
    any of our Class A common stock for public sale, holders of
    shares having registration rights will have the right to include
    their shares in the registration statement. However, this right
    does not apply to a registration relating to any of our employee
    benefit plans, a registration relating to a corporate
    reorganization or acquisition or a registration in which the
    only common stock being registered is common stock issuable upon
    conversion of debt securities that are also being registered.
    The managing underwriter of any underwritten offering will have
    the right, in its sole discretion, to limit, because of
    marketing reasons, the number of shares registered by these
    holders, in which case the number of shares to be registered
    will be apportioned pro rata among these holders, according to
    the total amount of securities entitled to be included by each
    holder, or in a manner mutually agreed upon by the holders.
    However, the number of shares to be registered by these holders
    cannot be reduced below 25% of the total shares covered by the
    registration statement.
Form S-3
Registration Rights.
The holders of at least 20%
    of the then-outstanding shares having registration rights can
    request that we register all or part of their shares on
Form S-3
if we are eligible to file a registration statement on
Form S-3
and if the aggregate price to the public of the shares offered
    is at least $1.0 million. The stockholders may only require
    us to file two registration statements on
Form S-3
in a
12-month
period. We may postpone the filing of a registration statement
    on
Form S-3
for up to 90 days once in a
12-month
period if we determine that the filing would be detrimental to
    us and our stockholders.
Expenses of Registration Rights.
We will pay
    all expenses, other than underwriting discounts and commissions
    and the fees and disbursements of more than one counsel for the
    selling stockholders, incurred in connection with the
    registrations described above, except for the expenses incurred
    pursuant to the third registration following the exercise of the
Form S-3
registration rights described above in a
12-month
period.
Expiration of Registration Rights.
The
    registration rights described above will expire, with respect to
    any particular holder of these rights, on the earlier of the
    fifth anniversary of the completion of this offering or when
    that holder can sell all of its registrable securities in any
    three-month period under Rule 144 of the Securities Act.
Anti-Takeover
    Provisions
The provisions of Delaware law, our dual class structure, our
    restated certificate of incorporation and our restated bylaws
    may have the effect of delaying, deferring or discouraging
    another person from acquiring control of our company.
Delaware Law.
We are governed by the
    provisions of Section 203 of the Delaware General
    Corporation Law. In general, Section 203 prohibits a public
    Delaware corporation from engaging in a "business
    combination" with an "interested stockholder" for
    a period of three years after the date of
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the transaction in which the person became an interested
    stockholder, unless the business combination is approved in a
    prescribed manner. A "business combination" includes
    mergers, asset sales or other transactions resulting in a
    financial benefit to the stockholder. An "interested
    stockholder" is a person who, together with affiliates and
    associates, owns, or within three years did own, 15% or more of
    the corporation's outstanding voting stock. These
    provisions may have the effect of delaying, deferring or
    preventing a change in our control.
Dual Class Structure.
As discussed above, our
    Class B common stock has ten votes per share, while our
    Class A common stock, which is the class of stock we and
    the selling stockholders are selling in this offering and which
    will be the only class of stock which is publicly traded, has
    one vote per share. After the offering, our current directors,
    executive officers, holders of more than 5% of our common stock
    and their respective affiliates will, in the aggregate,
    beneficially own approximately     % of
    our outstanding Class B common stock, representing
    approximately     % of the total voting
    power of our outstanding capital stock
    (approximately     % and
    approximately     %, respectively, if
    the underwriters exercise their over-allotment option in full).
    Because of our dual class structure, the holders of our
    Class B common stock will continue to be able to control
    all matters submitted to our stockholders for approval even if
    they own significantly less than 50% of the shares of our
    outstanding common stock. This concentrated control could
    discourage others from initiating any potential merger, takeover
    or other change of control transaction that other stockholders
    might view as beneficial. Our board of directors is authorized,
    without stockholder approval, to issue additional shares of
    Class A and Class B common stock.
Restated Certificate of Incorporation and Restated Bylaw
    Provisions.
Our restated certificate of
    incorporation and our restated bylaws provide for a dual class
    structure and includes a number of other provisions that could
    deter hostile takeovers or delay or prevent changes in control
    of our management team, including the following:
•
Board of Directors Vacancies.
Our restated
    certificate of incorporation and restated bylaws authorize only
    our board of directors to fill vacant directorships. In
    addition, the number of directors constituting our board of
    directors is permitted to be set only by a resolution adopted by
    a majority vote of our entire board of directors. These
    provisions would prevent a stockholder from increasing the size
    of our board of directors and then gaining control of our board
    of directors by filling the resulting vacancies with its own
    nominees.
•
Classified Board.
Our restated certificate of
    incorporation and restated bylaws provide that our board is
    classified into three classes of directors. This could delay a
    successful tender offeror from obtaining majority control of our
    board of directors, and the prospect of that delay might deter a
    potential offeror. In addition, stockholders are not permitted
    to cumulate their votes for the election of directors.
•
Stockholder Action; Special Meeting of
    Stockholders.
Our restated certificate of
    incorporation provides that our stockholders may not take action
    by written consent, but may only take action at annual or
    special meetings of our stockholders. Our restated bylaws
    further provide that special meetings of our stockholders may be
    called only by a majority of our board of directors, the
    chairman of our board of directors, our chief executive officer
    or our president.
•
Advance Notice Requirements for Stockholder Proposals and
    Director Nominations
. Our restated bylaws provide advance
    notice procedures for stockholders seeking to bring business
    before our annual meeting of stockholders, or to nominate
    candidates for election as directors at our annual meeting of
    stockholders. Our restated bylaws also specify certain
    requirements regarding the form and content of a
    stockholder's notice. These provisions might preclude our
    stockholders from bringing matters before our annual meeting of
    stockholders or from making nominations for directors at our
    annual meeting of stockholders.
•
Limits on Voting Power.
Our restated
    certificate of incorporation provides that a holder, or group of
    affiliated holders, of more than 24.9% of our common stock may
    not vote shares representing more than 14.9% of the voting power
    represented by the outstanding shares of our Class A and
    Class B common stock. These provisions might make it more
    difficult or
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discourage an attempt by such a stockholder to obtain control of
    us by means of a merger, tender offer, proxy contest or other
    means.
•
Issuance of Undesignated Preferred Stock.
Our
    board of directors has the authority, without further action by
    the stockholders, to issue up
    to           shares
    of undesignated preferred stock with rights and preferences,
    including voting rights, designated from time to time by our
    board of directors. The existence of authorized but unissued
    shares of preferred stock would enable our board of directors to
    render more difficult or to discourage an attempt to obtain
    control of us by means of a merger, tender offer, proxy contest
    or other means.
Listing
We intend to apply for the listing of our Class A common
    stock on the NYSE under the symbol
    "          ."
Transfer Agent
    and Registrar
The transfer agent and registrar for our common stock
    is          .
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SHARES ELIGIBLE
    FOR FUTURE SALE
Prior to this offering, there has been no public market for our
    Class A common stock, and we cannot predict the effect, if
    any, that market sales of shares of our Class A common
    stock or the availability of shares of our Class A common
    stock for sale will have on the market price of our Class A
    common stock prevailing from time to time. Nevertheless, sales
    of substantial amounts of our Class A common stock, or the
    perception that those sales could occur, including shares of
    Class A common stock issued upon conversion of Class B
    common stock issued upon exercise of outstanding options or
    warrants, in the public market after this offering could
    adversely affect market prices prevailing from time to time and
    could impair our ability to raise capital through the sale of
    our equity securities.
Upon the completion of this offering, based on the number of
    shares outstanding as
    of          ,
    2010, we will have a total
    of           shares
    of our Class A and Class B common stock outstanding.
    Of these outstanding shares, all of
    the           shares
    of Class A common stock sold in this offering will be
    freely tradable, except that any shares held by our affiliates,
    as that term is defined in Rule 144 under the Securities
    Act, may only be sold in compliance with the limitations
    described below.
The remaining outstanding shares of our Class B common
    stock will be deemed restricted securities as defined in
    Rule 144. Restricted securities may be sold in the public
    market only if registered or if they qualify for an exemption
    from registration under Rule 144 or Rule 701
    promulgated under the Securities Act, which rules are summarized
    below. In addition, all of our security holders, except for the
    holders of warrants to purchase up to 283,786 shares of our
    Class B common stock, have entered into market standoff
    agreements with us or
lock-up
agreements with the underwriters under which they have agreed,
    subject to specific exceptions, not to sell any of our stock for
    at least 180 days following the date of this prospectus.
    Subject to the provisions of Rule 144 or Rule 701,
    based on an assumed offering date
    of          ,
    2010, shares will be available for sale in the public market as
    follows:
•
shares
    will be eligible for sale immediately upon completion of this
    offering;
•
shares
    will be eligible for sale beginning 90 days after the date
    of this prospectus; and
•
shares
    will be eligible for sale upon the expiration of the
lock-up
and/or
market standoff agreements described below, subject in some
    cases to the volume and other restrictions of Rule 144 and
    Rule 701 also described below.
Lock-Up
Agreements
All of our directors and officers and all of our security
    holders other than the holders of warrants to purchase up to
    283,786 shares of our Class B common stock are subject
    to
lock-up
agreements that, subject to exceptions described in the
    "Underwriting" section below, prohibit them from
    offering for sale, selling, contracting to sell, granting any
    option for the sale of, transferring or otherwise disposing of
    any shares of our common stock, options or warrants to acquire
    shares of our common stock or any security or instrument related
    to this common stock, option or warrant for a period of at least
    180 days following the date of this prospectus without the
    prior written consent of J.P. Morgan Securities Inc. and
    Morgan Stanley & Co. Incorporated. In addition, all of
    our security holders, other than the holder of warrants to
    purchase up to 283,786 shares of our Class B common stock,
    are subject to market standoff provisions that contain
    restrictions similar to those contained in the lock-up
    agreements.
Rule 144
In general, under Rule 144 as currently in effect, once we
    have been subject to public company reporting requirements for
    at least 90 days, a person who is not deemed to have been
    one of our affiliates for purposes of the Securities Act at any
    time during the 90 days preceding a sale and who has
    beneficially owned the shares proposed to be sold for at least
    six months, including the holding period of any prior owner
    other than our affiliates, is entitled to sell those shares
    without complying with the manner of sale, volume limitation or
    notice provisions of Rule 144, subject to compliance with
    the public information requirements of Rule 144. If such a
    person has beneficially owned the shares
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proposed to be sold for at least one year, including the holding
    period of any prior owner other than our affiliates, then that
    person would be entitled to sell those shares immediately
    without complying with any of the requirements of Rule 144.
In general, under Rule 144, as currently in effect, our
    affiliates or persons selling shares on behalf of our affiliates
    are entitled to sell upon expiration of the
lock-up
agreements described above, within any three-month period, a
    number of shares that does not exceed the greater of:
•
1% of the number of shares of our common stock then outstanding,
    which will equal
    approximately           shares
    immediately after this offering; or
•
the average weekly trading volume of our Class A common
    stock during the four calendar weeks preceding the filing of a
    notice on Form 144 with respect to that sale.
Sales under Rule 144 by our affiliates or persons selling
    shares on behalf of our affiliates are also subject to certain
    manner of sale provisions and notice requirements and to the
    availability of current public information about us.
Rule 701
Rule 701 generally allows a stockholder who purchased
    shares of our common stock pursuant to a written compensatory
    plan or contract and who is not deemed to have been an affiliate
    of our company during the immediately preceding 90 days to
    sell these shares in reliance upon Rule 144, but without
    being required to comply with the public information, holding
    period, volume limitation or notice provisions of Rule 144.
    Rule 701 also permits affiliates of our company to sell
    their Rule 701 shares under Rule 144 without
    complying with the holding period requirements of Rule 144.
    All holders of Rule 701 shares, however, are required
    to wait until 90 days after the date of this prospectus
    before selling those shares pursuant to Rule 701.
Stock
    Options
We intend to file a registration statement on
Form S-8
under the Securities Act covering all of the shares of our
    Class B common stock subject to options outstanding and the
    shares of our Class A Common Stock and Class B Common
    Stock reserved for issuance under our stock plans. We expect to
    file this registration statement as soon as practicable after
    the completion of this offering. In addition, we intend to file
    a registration statement on
Form S-8
or such other form as may be required under the Securities Act
    for the resale of shares of our Class B common stock issued
    upon the exercise of options that were not granted under
    Rule 701. We expect to file this registration statement as
    soon as permitted under the Securities Act. However, the shares
    registered on
Form S-8
may be subject to the volume limitations and the manner of sale,
    notice and public information requirements of Rule 144 and
    will not be eligible for resale until expiration of the
lock-up
agreements to which they are subject.
Warrants
As of October 31, 2009, we had an outstanding warrant to
    purchase 283,786 shares of Class B common stock. This
    warrant contains a "net exercise provision." This
    provision allows a holder to exercise the warrant for a lesser
    number of shares of Class B common stock in lieu of paying
    cash. The number of shares that would be issued in this case
    would be based upon the market price of the Class B common
    stock at the time of the net exercise. Because the warrant has
    been held for at least one year, any shares of Class B
    common stock issued upon net exercise of that warrant could be
    publicly sold under Rule 144 following completion of this
    offering. After the
lock-up
and
    market standoff agreements described above expire, an unvested
    warrant to purchase up to 4,283,456 shares of our
    Class B common stock, which also contains a net exercise
    provision, will have been outstanding for at least one year, and
    any shares of Class B common stock issued upon net exercise
    of that warrant could be publicly sold under Rule 144. This
    warrant vests and becomes exercisable only upon achievement of
    certain performance goals. See "Description of Capital
    Stock – Warrants."
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Registration
    Rights
We have granted demand, piggyback and
Form S-3
registration rights to certain of our stockholders to sell our
    common stock. For a further description of these rights, see
    "Description of Capital Stock – Registration
    Rights."
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UNDERWRITING
We are offering the shares of Class A common stock
    described in this prospectus through a number of underwriters.
    J.P. Morgan Securities Inc. and Morgan Stanley &
    Co. Incorporated are acting as joint book-running managers of
    the offering and as representatives of the underwriters. We have
    entered into an underwriting agreement with the underwriters.
    Subject to the terms and conditions of the underwriting
    agreement, we have agreed to sell to the underwriters, and each
    underwriter has severally agreed to purchase, at the public
    offering price less the underwriting discounts and commissions
    set forth on the cover page of this prospectus, the number of
    shares of our Class A common stock listed next to its name
    in the following table:
Number of
Name
Shares
J.P. Morgan Securities Inc.
Morgan Stanley & Co. Incorporated
Piper Jaffray & Co.
UBS Securities LLC
Total
The underwriters are committed to purchase all the shares of our
    Class A common stock offered by us if they purchase any
    shares. The underwriting agreement also provides that if an
    underwriter defaults, the purchase commitments of non-defaulting
    underwriters may also be increased or the offering may be
    terminated.
The underwriters propose to offer the Class A common stock
    directly to the public at the initial public offering price set
    forth on the cover page of this prospectus and to certain
    dealers at that price less a concession not in excess of
    $      per share. Any such dealers may
    resell shares to certain other brokers or dealers at a discount
    of up to $      per share from the
    initial public offering price. After the initial public offering
    of the shares, the offering price and other selling terms may be
    changed by the underwriters. Sales of shares made outside the
    United States may be made by affiliates of the underwriters. The
    representatives have advised us that the underwriters do not
    intend to confirm discretionary sales in excess of 5% of the
    Class A common stock offered in this offering.
The underwriters have an option to buy up
    to          
    additional shares of our Class A common stock from us and
    the selling stockholders to cover over-allotments, if any. The
    underwriters have 30 days from the date of this prospectus
    to exercise this over-allotment option. If any shares are
    purchased with this over-allotment option, the underwriters will
    purchase shares in approximately the same proportion as shown in
    the table above. If any additional shares of our Class A
    common stock are purchased, the underwriters will offer the
    additional shares on the same terms as those on which the shares
    are being offered.
The underwriting fee is equal to the public offering price per
    share of our Class A common stock less the amount paid by
    the underwriters to us per share of our Class A common
    stock. The underwriting fee is $     
    per share. The following table shows the per share and total
    underwriting discounts and commissions to be paid to the
    underwriters assuming both no exercise and full exercise of the
    underwriters' option to purchase additional shares.
Without Over-
With Full Over-
Allotment Exercise
Allotment Exercise
Per share
$
$
Total
$
$
We estimate that the total expenses of this offering, including
    registration, filing and listing fees, printing fees and legal
    and accounting expenses, but excluding the underwriting
    discounts and commissions, will be approximately
    $     .
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A prospectus in electronic format may be made available on the
    web sites maintained by one or more underwriters, or selling
    group members, if any, participating in the offering. The
    underwriters may agree to allocate a number of shares to
    underwriters and selling group members for sale to their online
    brokerage account holders. Internet distributions will be
    allocated by the representatives to underwriters and selling
    group members that may make Internet distributions on the same
    basis as other allocations.
We have agreed that we will not (i) offer, pledge, announce
    the intention to sell, sell, contract to sell, sell any option
    or contract to purchase, purchase any option or contract to
    sell, grant any option, right or warrant to purchase or
    otherwise dispose of, directly or indirectly, or file with the
    SEC a registration statement under the Securities Act relating
    to, any shares of our Class A common stock or securities
    convertible into or exchangeable or exercisable for any shares
    of our Class A common stock, or publicly disclose the
    intention to make any offer, sale, pledge, disposition or
    filing, or (ii) enter into any swap or other arrangement
    that transfers all or a portion of the economic consequences
    associated with the ownership of any shares of our Class A
    common stock or any such other securities (regardless of whether
    any of these transactions are to be settled by the delivery of
    shares of our Class A common stock or such other
    securities, in cash or otherwise), in each case without the
    prior written consent of J.P. Morgan Securities Inc. and
    Morgan Stanley & Co. Incorporated for a period of
    180 days after the date of this prospectus, other than
    (A) the shares of our Class A common stock to be sold
    hereunder, (B) grants and settlements of awards under our
    stock plans that are described in this prospectus, (C) the
    filing of a registration statement in connection with an
    employee stock compensation plan and (D) the issuance of
    securities in connection with certain acquisitions, joint
    ventures or other strategic transactions, provided that the
    aggregate number of shares issued in all such transactions under
    this clause (D) may not exceed 10% of our outstanding stock
    upon the consummation of this initial public offering and any
    recipient of any such shares agrees to be subject to the
    restrictions set forth in the following paragraph.
    Notwithstanding the foregoing, if (1) during the last
    17 days of the
180-day
restricted period, we issue an earnings release or material news
    or a material event relating to our company occurs; or
    (2) prior to the expiration of the
180-day
restricted period, we announce that we will release earnings
    results during the
16-day
period beginning on the last day of the
180-day
period, the restrictions described above shall continue to apply
    until the expiration of the
18-day
period beginning on the issuance of the earnings release or the
    occurrence of the material news or material event.
Our directors, executive officers and all of our security
    holders have entered into
lock-up
agreements with the underwriters prior to the commencement of
    this offering pursuant to which each of these persons or
    entities, with limited exceptions, for a period of 180 days
    after the date of this prospectus, may not, without the prior
    written consent of J.P. Morgan Securities Inc. and Morgan
    Stanley & Co. Incorporated, (1) offer, pledge,
    announce the intention to sell, sell, contract to sell, sell any
    option or contract to purchase, purchase any option or contract
    to sell, grant any option, right or warrant to purchase, or
    otherwise transfer or dispose of, directly or indirectly, any
    shares of our Class A common stock or any securities
    convertible into or exercisable or exchangeable for our
    Class A common stock (including, without limitation,
    Class A common stock or such other securities which may be
    deemed to be beneficially owned by such directors, executive
    officers, managers and members in accordance with the rules and
    regulations of the SEC and securities which may be issued upon
    exercise of a stock option or warrant) or (2) enter into
    any swap or other agreement that transfers, in whole or in part,
    any of the economic consequences of ownership of our
    Class A common stock or such other securities, whether any
    such transaction described in clause (1) or (2) above
    is to be settled by delivery of our Class A common stock or
    such other securities, in cash or otherwise, or (3) make
    any demand for or exercise any right with respect to the
    registration of any shares of our Class A common stock or
    any security convertible into or exercisable or exchangeable for
    our Class A common stock. Notwithstanding the foregoing, if
    (1) during the last 17 days of the
180-day
restricted period, we issue an earnings release or material news
    or a material event relating to our company occurs; or
    (2) prior to the expiration of the
180-day
restricted period, we announce that we will release earnings
    results during the
16-day
period beginning on the last day of the
180-day
period, the
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restrictions described above shall continue to apply until the
    expiration of the
18-day
period beginning on the issuance of the earnings release or the
    occurrence of the material news or material event.
We and the selling stockholders have agreed to indemnify the
    underwriters against certain liabilities, including liabilities
    under the Securities Act.
In connection with this offering, the underwriters may engage in
    stabilizing transactions, which involves making bids for,
    purchasing and selling shares of our Class A common stock
    in the open market for the purpose of preventing or retarding a
    decline in the market price of our Class A common stock
    while this offering is in progress. These stabilizing
    transactions may include making short sales of our Class A
    common stock, which involves the sale by the underwriters of a
    greater number of shares of our Class A common stock than
    they are required to purchase in this offering, and purchasing
    shares of our Class A common stock in the open market to
    cover positions created by short sales. Short sales may be
    "covered" shorts, which are short positions in an
    amount not greater than the underwriters' over-allotment
    option referred to above, or may be "naked" shorts,
    which are short positions in excess of that amount. The
    underwriters may close out any covered short position either by
    exercising their over-allotment option, in whole or in part, or
    by purchasing shares in the open market. In making this
    determination, the underwriters will consider, among other
    things, the price of shares available for purchase in the open
    market compared to the price at which the underwriters may
    purchase shares through the over-allotment option. A naked short
    position is more likely to be created if the underwriters are
    concerned that there may be downward pressure on the price of
    our Class A common stock in the open market that could
    adversely affect investors who purchase shares in this offering.
    To the extent that the underwriters create a naked short
    position, they will purchase shares in the open market to cover
    the position.
The underwriters have advised us that, pursuant to
    Regulation M of the Securities Act, they may also engage in
    other activities that stabilize, maintain or otherwise affect
    the price of our Class A common stock, including the
    imposition of penalty bids. This means that, if the
    representatives of the underwriters purchase our Class A
    common stock in the open market in stabilizing transactions or
    to cover short sales, the representatives can require the
    underwriters that sold those shares as part of this offering to
    repay the underwriting discount received by them.
These activities may have the effect of raising or maintaining
    the market price of our Class A common stock or preventing
    or retarding a decline in the market price of our Class A
    common stock, and, as a result, the price of our Class A
    common stock may be higher than the price that otherwise might
    exist in the open market. If the underwriters commence these
    activities, they may discontinue them at any time. The
    underwriters may carry out these transactions on the NYSE, in
    the
over-the-counter
market or otherwise.
Prior to this offering, there has been no public market for our
    Class A common stock. The initial public offering price
    will be determined by negotiations between us, the selling
    stockholders and the representatives of the underwriters. In
    determining the initial public offering price, we and the
    representatives of the underwriters expect to consider a number
    of factors including:
•
the information set forth in this prospectus and otherwise
    available to the representatives;
•
our prospects and the history and prospects for the industry in
    which we compete;
•
an assessment of our management;
•
our prospects for future earnings;
•
the general condition of the securities markets at the time of
    this offering;
•
the recent market prices of, and demand for, publicly traded
    common stock of generally comparable companies; and
•
other factors deemed relevant by the underwriters and us.
Neither we nor the underwriters can assure investors that an
    active trading market will develop for our Class A common
    stock, or that the shares will trade in the public market at or
    above the initial public offering price.
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Other than in the United States, no action has been taken by us
    or the underwriters that would permit a public offering of the
    securities offered by this prospectus in any jurisdiction where
    action for that purpose is required. The securities offered by
    this prospectus may not be offered or sold, directly or
    indirectly, nor may this prospectus or any other offering
    material or advertisements in connection with the offer and sale
    of any such securities be distributed or published in any
    jurisdiction, except under circumstances that will result in
    compliance with the applicable rules and regulations of that
    jurisdiction. Persons into whose possession this prospectus
    comes are advised to inform themselves about and to observe any
    restrictions relating to the offering and the distribution of
    this prospectus. This prospectus does not constitute an offer to
    sell or a solicitation of an offer to buy any securities offered
    by this prospectus in any jurisdiction in which such an offer or
    a solicitation is unlawful.
This document is only being distributed to and is only directed
    at (i) persons who are outside the United Kingdom or
    (ii) to investment professionals falling within
    Article 19(5) of the Financial Services and Markets Act
    2000 (Financial Promotion) Order 2005 (the "Order") or
    (iii) high net worth entities, and other persons to whom it
    may lawfully be communicated, falling with Article 49(2)(a)
    to (d) of the Order (all such persons together being
    referred to as "relevant persons"). The securities are
    only available to, and any invitation, offer or agreement to
    subscribe, purchase or otherwise acquire such securities will be
    engaged in only with, relevant persons. Any person who is not a
    relevant person should not act or rely on this document or any
    of its contents.
In relation to each Member State of the European Economic Area
    that has implemented the Prospectus Directive (each, a
    "Relevant Member State"), from and including the date
    on which the European Union Prospectus Directive (the "EU
    Prospectus Directive") is implemented in that Relevant
    Member State (the "Relevant Implementation Date"), an
    offer of securities described in this prospectus may not be made
    to the public in that Relevant Member State prior to the
    publication of a prospectus in relation to the shares that has
    been approved by the competent authority in that Relevant Member
    State or, where appropriate, approved in another Relevant Member
    State and notified to the competent authority in that Relevant
    Member State, all in accordance with the EU Prospectus
    Directive, except that it may, with effect from and including
    the Relevant Implementation Date, make an offer of shares to the
    public in that Relevant Member State at any time:
•
to legal entities that are authorized or regulated to operate in
    the financial markets or, if not so authorized or regulated,
    whose corporate purpose is solely to invest in securities;
•
to any legal entity that has two or more of (1) an average
    of at least 250 employees during the last financial year;
    (2) a total balance sheet of more than €43,000,000 and
    (3) an annual net turnover of more than €50,000,000,
    as shown in its last annual or consolidated accounts;
•
to fewer than 100 natural or legal persons (other than qualified
    investors as defined in the EU Prospectus Directive) subject to
    obtaining the prior consent of the book-running managers for any
    such offer; or
•
in any other circumstances that do not require the publication
    by the issuer of a prospectus pursuant to Article 3 of the
    Prospectus Directive.
For the purposes of this provision, the expression an
    "offer of securities to the public" in relation to any
    securities in any Relevant Member State means the communication
    in any form and by any means of sufficient information on the
    terms of the offer and the securities to be offered so as to
    enable an investor to decide to purchase or subscribe for the
    securities, as the same may be varied in that Member State by
    any measure implementing the EU Prospectus Directive in that
    Relevant Member State and the expression EU Prospectus Directive
    means Directive 2003/71/EC and includes any relevant
    implementing measure in each Relevant Member State.
Certain of the underwriters and their affiliates have provided
    in the past to us and our affiliates and may provide from time
    to time in the future certain commercial banking, financial
    advisory, investment banking and other services to us and those
    affiliates in the ordinary course of their business, for which
    they have received and may continue to receive customary fees
    and commissions. In addition, from time to time, certain of the
    underwriters and their affiliates may effect transactions for
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Table of Contents
their own account or the accounts of customers, and hold on
    behalf of themselves or their customers, long or short positions
    in our debt or equity securities or loans, and may do so in the
    future.
LEGAL
    MATTERS
Fenwick & West LLP, Mountain View, California, will
    pass upon the validity of the issuance of the shares of our
    Class A common stock offered by this prospectus. Cravath,
    Swaine & Moore LLP, New York, New York, will act as
    counsel to the underwriters.
EXPERTS
Ernst & Young LLP, independent registered public
    accounting firm, has audited our consolidated financial
    statements at July 31, 2008 and 2009, and for each of the
    three fiscal years in the period ended July 31, 2009, as
    set forth in their report. We have included our consolidated
    financial statements in this prospectus and elsewhere in the
    registration statement in reliance on Ernst & Young
    LLP's report, given on their authority as experts in
    accounting and auditing.
WHERE YOU CAN
    FIND ADDITIONAL INFORMATION
We have filed with the SEC a registration statement on
Form S-1
under the Securities Act with respect to our Class A common
    stock. This prospectus, which constitutes a part of the
    registration statement, does not contain all of the information
    set forth in the registration statement, some items of which are
    contained in exhibits to the registration statement as permitted
    by the rules and regulations of the SEC. For further information
    with respect to us and our Class A common stock, we refer
    you to the registration statement, including the exhibits and
    the consolidated financial statements and notes filed as a part
    of the registration statement. Statements contained in this
    prospectus concerning the contents of any contract or any other
    document are not necessarily complete. If a contract or document
    has been filed as an exhibit to the registration statement,
    please see the copy of the contract or document that has been
    filed. Each statement in this prospectus relating to a contract
    or document filed as an exhibit is qualified in all respects by
    the filed exhibit. The exhibits to the registration statement
    should be reviewed for the complete contents of these contracts
    and documents. A copy of the registration statement, including
    the exhibits and the consolidated financial statements and notes
    filed as a part of the registration statement, may be inspected
    without charge at the SEC's Public Reference Room at
    100 F Street, N.E., Washington, D.C. 20549, and
    copies of all or any part of the registration statement may be
    obtained from the SEC upon the payment of fees prescribed by it.
    You may call the SEC at
1-800-SEC-0330
for more information on the operation of the public reference
    facilities. The SEC maintains a website at
http://www.sec.gov
that contains reports, proxy and information statements and
    other information regarding companies that file electronically
    with it.
As a result of this offering, we will become subject to the
    information and reporting requirements of the Exchange Act and,
    in accordance with this law, will file periodic reports, proxy
    statements and other information with the SEC. These periodic
    reports, proxy statements and other information will be
    available for inspection and copying at the SEC's public
    reference facilities and the website of the SEC referred to
    above.
114
INDEX TO
    CONSOLIDATED FINANCIAL STATEMENTS
Page
Report of Independent Registered Public
    Accounting Firm
F-2
Consolidated Balance Sheets
F-3
Consolidated Statements of Operations
F-4
Consolidated Statements of Changes in Redeemable
    Convertible Preferred Stock and in
Stockholders' Equity
F-5
Consolidated Statements of Cash Flows
F-6
Notes to Consolidated Financial Statements
F-7
F-1
Table of Contents
Report of
    Independent Registered Public Accounting Firm
The Board of Directors and Stockholders
Green Dot Corporation
We have audited the accompanying consolidated balance sheets of
    Green Dot Corporation (the Company) as of July 31, 2008 and
    2009, and the related consolidated statements of operations,
    changes in redeemable convertible preferred stock and in
    stockholders' equity (deficit), and cash flows for each of
    the three years in the period ended July 31, 2009. These
    financial statements are the responsibility of the
    Company's management. Our responsibility is to express an
    opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the
    Public Company Accounting Oversight Board (United States). Those
    standards require that we plan and perform the audit to obtain
    reasonable assurance about whether the financial statements are
    free of material misstatement. We were not engaged to perform an
    audit of the Company's internal control over financial
    reporting. Our audits included consideration of internal control
    over financial reporting as a basis for designing audit
    procedures that are appropriate in the circumstances, but not
    for the purpose of expressing an opinion on the effectiveness of
    the Company's internal control over financial reporting.
    Accordingly, we express no such opinion. An audit also includes
    examining, on a test basis, evidence supporting the amounts and
    disclosures in the financial statements, assessing the
    accounting principles used and significant estimates made by
    management, and evaluating the overall financial statement
    presentation. We believe that our audits provide a reasonable
    basis for our opinion.
In our opinion, the financial statements referred to above
    present fairly, in all material respects, the consolidated
    financial position of Green Dot Corporation at July 31,
    2008 and 2009, and the consolidated results of its operations
    and its cash flows for each of the three years in the period
    ended July 31, 2009 in conformity with U.S. generally
    accepted accounting principles.
/s/ Ernst & Young LLP
Los Angeles, California
February 26, 2010
F-2
Table of Contents
Green Dot
    Corporation
Consolidated
    Balance Sheets
October 31,
2009
July 31,
Pro Forma
2008
2009
Actual
(Note 2)
(Unaudited)
(In thousands, except per share data)
Assets
Current assets:
Unrestricted cash and cash equivalents
$
39,285
$
26,564
$
43,242
Settlement assets
17,445
35,570
52,813
Accounts receivable, net
14,080
19,967
20,663
Prepaid expenses and other assets
5,700
6,317
7,840
Income taxes receivable
1,088
—
—
Net deferred tax assets
4,446
5,681
5,681
Total current assets
82,044
94,099
130,239
Restricted cash
2,328
15,367
15,381
Accounts receivable, net
—
1,357
1,456
Prepaid expenses and other assets
829
1,115
1,111
Property and equipment, net
7,096
8,679
9,908
Deferred expenses
4,949
2,652
3,533
Total assets
$
97,246
$
123,269
$
161,628
Liabilities, Redeemable Convertible Preferred Stock and
    Stockholders' Equity
Current liabilities:
Accounts payable and accrued liabilities
$
4,464
$
8,359
$
8,035
Settlement obligations
17,445
35,570
52,813
Amounts due to card issuing banks for overdrawn accounts
23,578
18,269
19,809
Other accrued liabilities
9,360
6,865
9,091
Deferred revenue
8,351
7,404
7,759
Income tax payable
—
337
6,565
Total current liabilities
63,198
76,804
104,072
Other accrued liabilities
571
2,561
2,465
Deferred revenue
169
138
109
Net deferred tax liabilities
2,024
1,528
1,528
Total liabilities
65,962
81,031
108,174
Commitments and contingencies (Note 14)
Series D redeemable convertible preferred stock,
    $0.001 par value:
2,926 shares authorized, issued and outstanding at
    July 31, 2008, reported at redemption value; no shares
    issued and outstanding at July 31, 2009 or October 31,
    2009 (unaudited)
26,816
—
—
Stockholders' equity:
Convertible preferred stock, $0.001 par value:
    24,372 shares authorized, 23,837 shares issued and
    outstanding as of July 31, 2008; 25,554 shares
    authorized, 24,942 shares issued and outstanding as of
    July 31, 2009 and October 31, 2009 (unaudited);
    liquidation preference of $18,345 as of July 31, 2008 and
    $31,322 as of July 31, 2009 and October 31, 2009
    (unaudited)
18,345
31,322
31,322
$
—
Common stock, $0.001 par value: 50,000 shares
    authorized as of July 31, 2008 and 2009 and
    October 31, 2009 (unaudited); 11,753, 12,040 and
    12,076 shares issued and outstanding as of July 31,
    2008 and 2009 and October 31, 2009 (unaudited), respectively
12
12
12
37
Additional paid-in capital
3,593
2,955
3,822
35,119
Related party notes receivable
(5,235
)
(5,814
)
(5,869
)
(5,869
)
Retained earnings (accumulated deficit)
(12,247
)
13,763
24,167
24,167
Total stockholders' equity
4,468
42,238
53,454
$
53,454
Total liabilities, redeemable convertible preferred stock and
    stockholders' equity
$
97,246
$
123,269
$
161,628
See notes to consolidated financial statements.
F-3
Table of Contents
Green Dot
    Corporation
Consolidated
    Statements of Operations
Year Ended July 31,
October 31,
2007
2008
2009
2008
2009
(Unaudited)
(In thousands, except per share data)
Operating revenues:
Card revenues
$
45,717
$
91,233
$
119,356
$
27,635
$
30,532
Cash transfer revenues
25,419
45,310
62,396
14,556
17,807
Interchange revenues
12,488
31,583
53,064
10,418
17,926
Total operating revenues
83,624
168,126
234,816
52,609
66,265
Operating expenses:
Sales and marketing expenses
38,838
69,577
75,786
20,538
18,165
Compensation and benefits expenses
20,610
28,303
40,096
9,191
12,067
Processing expenses
9,809
21,944
32,320
7,297
10,053
Other general and administrative expenses
13,212
19,124
22,944
5,747
8,103
Total operating expenses
82,469
138,948
171,146
42,773
48,388
Operating income
1,155
29,178
63,670
9,836
17,877
Interest income
771
665
396
210
60
Interest expense
(625
)
(247
)
(1
)
—
—
Income before income taxes
1,301
29,596
64,065
10,046
17,937
Income tax expense (benefit)
(3,346
)
12,261
26,902
4,219
7,533
Net income
$
4,647
$
17,335
$
37,163
$
5,827
$
10,404
Dividends, accretion, and allocated earnings of preferred stock
(5,157
)
(13,650
)
(29,000
)
(4,409
)
(7,013
)
Net income (loss) allocated to common stockholders
$
(510
)
$
3,685
$
8,163
$
1,418
$
3,391
Earnings (loss) per common share:
Basic
$
(0.05
)
$
0.34
$
0.68
$
0.12
$
0.28
Diluted
$
(0.05
)
$
0.26
$
0.52
$
0.09
$
0.22
Weighted-average common shares issued and outstanding
11,100
10,757
12,036
12,026
12,060
Weighted-average diluted common shares issued and outstanding
11,100
14,154
15,712
16,034
15,318
Pro forma earnings per common share (unaudited):
Basic
$
1.00
$
0.28
Diluted
$
0.91
$
0.26
Pro forma weighted-average shares issued and outstanding
    (unaudited):
Basic
36,978
37,002
Diluted
40,654
40,260
See notes to consolidated financial statements.
F-4
Table of Contents
Green Dot
    Corporation
Consolidated Statements of Changes in Redeemable Convertible
Preferred Stock and in Stockholders' Equity (Deficit)
Stockholder's Equity (Deficit)
Redeemable
Related
(Accumulated
Total
Convertible
Convertible
Additional
Party
Deficit)
Stockholders'
Preferred Stock
Preferred Stock
Common Stock
Paid-in
Notes
Retained
Equity
Shares
Amount
Shares
Amount
Shares
Amount
Capital
Receivable
Earnings
(Deficit)
(In thousands)
Balance at July 31, 2006
—
$
—
24,088
$
18,540
11,508
$
12
$
1,318
$
(4,020
)
$
(9,695
)
$
6,155
Exercise of warrants and options
—
—
—
—
1,361
1
1,065
—
—
1,066
Issuance of related party notes receivable
—
—
—
—
—
—
—
(711
)
—
(711
)
Interest on related party notes receivable
—
—
—
—
—
—
191
(191
)
—
—
Stock-based compensation
—
—
—
—
—
—
156
—
—
156
Issuance of new shares and repurchase
of existing shares, net
2,926
18,701
(251
)
(195
)
(2,675
)
(3
)
(2,191
)
—
(16,419
)
(18,808
)
Accretion of redeemable convertible preferred stock
—
3,635
—
—
—
—
—
—
(3,635
)
(3,635
)
Net income
—
—
—
—
—
—
—
—
4,647
4,647
Balance at July 31, 2007
2,926
22,336
23,837
18,345
10,194
10
539
(4,922
)
(25,102
)
(11,130
)
Exercise of options
—
—
—
—
1,559
2
1,621
—
—
1,623
Issuance of related party notes receivable
—
—
—
—
—
—
—
(120
)
—
(120
)
Interest on related party notes receivable
—
—
—
—
—
—
193
(193
)
—
—
Stock-based compensation
—
—
—
—
—
—
1,240
—
—
1,240
Accretion of redeemable convertible preferred stock
—
4,480
—
—
—
—
—
—
(4,480
)
(4,480
)
Net income
—
—
—
—
—
—
—
—
17,335
17,335
Balance at July 31, 2008
2,926
26,816
23,837
18,345
11,753
12
3,593
(5,235
)
(12,247
)
4,468
Exercise of options
—
—
—
—
308
—
415
—
—
415
Issuance of related party notes receivable
—
—
—
—
—
—
—
(364
)
—
(364
)
Interest on related party notes receivable
—
—
—
—
—
—
215
(215
)
—
—
Stock-based compensation
—
—
—
—
—
—
2,468
—
—
2,468
Accretion of redeemable convertible preferred stock
—
1,956
—
—
—
—
—
—
(1,956
)
(1,956
)
Issuance of new shares and repurchase
of existing shares, net
(2,926
)
(28,772
)
1,105
12,977
(21
)
—
(1,778
)
—
(9,197
)
2,002
Exercise of call option on warrants
—
—
—
—
—
—
(1,958
)
—
—
(1,958
)
Net income
—
—
—
—
—
—
—
—
37,163
37,163
Balance at July 31, 2009
—
—
24,942
31,322
12,040
12
2,955
(5,814
)
13,763
42,238
Exercise of options (Unaudited)
—
—
—
—
36
—
100
—
—
100
Interest on related party notes receivable (Unaudited)
—
—
—
—
—
—
55
(55
)
—
—
Stock-based compensation (Unaudited)
—
—
—
—
—
—
712
—
—
712
Net income (Unaudited)
—
—
—
—
—
—
—
—
10,404
10,404
Balance at October 31, 2009 (Unaudited)
—
$
—
24,942
$
31,322
12,076
$
12
$
3,822
$
(5,869
)
$
24,167
$
53,454
See notes to consolidated financial statements.
F-5
Table of Contents
Green Dot
    Corporation
Consolidated
    Statements of Cash Flows
Year Ended July 31,
October 31,
2007
2008
2009
2008
2009
(Unaudited)
(In thousands)
Operating activities
Net income
$
4,647
$
17,335
$
37,163
$
5,827
$
10,404
Adjustments to reconcile net income to net cash provided by
(used in) operating activities:
Depreciation and amortization
3,524
4,407
4,593
1,145
1,296
Provision for uncollectible overdrawn accounts
7,909
16,135
22,548
5,214
6,486
Stock-based compensation
156
1,240
2,468
586
712
Provision (benefit) for uncollectible trade receivables
(133
)
50
61
75
22
Impairment of capitalized software
—
—
405
89
36
Deferred income tax (benefit) expense
(2,635
)
40
(1,731
)
—
—
Changes in operating assets and liabilities:
Settlement assets
(2,544
)
(2,033
)
(18,125
)
(21,049
)
(17,243
)
Accounts receivable
(11,001
)
(24,717
)
(29,853
)
(6,837
)
(7,303
)
Prepaid expenses and other assets
(551
)
(2,263
)
(903
)
(383
)
(1,544
)
Deferred expenses
(862
)
(2,750
)
2,297
(139
)
(881
)
Accounts payable and accrued liabilities
2,607
4,665
3,170
731
1,519
Settlement obligations
3,983
4,529
18,125
21,049
17,243
Amounts due to card issuing banks for overdrawn accounts
3,888
10,785
(5,309
)
(11,871
)
1,540
Deferred revenue
(2,000
)
4,394
(978
)
(243
)
326
Income taxes payable (receivable)
(4,527
)
3,189
1,366
4,126
6,228
Net cash provided by (used in) operating activities
2,461
35,006
35,297
(1,680
)
18,841
Investing activities
Restricted cash
(260
)
(43
)
(13,039
)
(10
)
(14
)
Purchase of property and equipment
(4,298
)
(5,120
)
(6,361
)
(1,219
)
(2,249
)
Net cash used in investing activities
(4,558
)
(5,163
)
(19,400
)
(1,229
)
(2,263
)
Financing activities
Principal payments on short-term debt
(2,584
)
(2,446
)
—
—
—
Repayments on line of credit
(148,560
)
(76,961
)
(12,404
)
—
—
Borrowings from line of credit
151,056
74,465
12,404
—
—
Proceeds from exercise of warrants and options
355
1,678
110
—
100
Exercise of call option on warrant
—
—
(1,958
)
—
—
Issuance of preferred shares and freestanding warrant
20,000
—
13,000
—
—
Redemption of preferred and common shares
(20,109
)
—
(39,770
)
—
—
Net cash provided by (used in) financing activities
158
(3,264
)
(28,618
)
—
100
Net (decrease) increase in unrestricted cash and cash equivalents
(1,939
)
26,579
(12,721
)
(2,909
)
16,678
Unrestricted cash and cash equivalents, beginning of year
14,645
12,706
39,285
39,285
26,564
Unrestricted cash and cash equivalents, end of year
$
12,706
$
39,285
$
26,564
$
36,376
$
43,242
Cash paid for interest
$
427
$
100
$
1
$
—
$
—
Cash paid for income taxes
$
3,805
$
8,104
$
27,403
$
92
$
1,306
See notes to consolidated financial statements.
F-6
Table of Contents
Green Dot
    Corporation
Notes
    to Consolidated Financial Statements
1.
Organization
Green Dot Corporation ("we," "us" and
    "our" refer to Green Dot Corporation and its
    wholly-owned subsidiary, Next Estate Communications, Inc.) is
    one of the leading providers of general purpose reloadable
    prepaid debit cards and cash loading and transfer services in
    the United States. Our products include Green Dot
    MasterCard
®
and
    Visa
®
-branded

    prepaid debit cards; several co-branded reloadable prepaid card
    programs; Visa-branded prepaid non-reloadable (gift) cards; and
    our
    MoneyPak
®
and swipe reload proprietary products, collectively referred to
    as our cash transfer products, which enable cash loading and
    transfer services through our Green Dot Network. The Green Dot
    Network enables consumers to use cash to reload our prepaid
    debit cards or to transfer cash to any of our Green Dot Network
    acceptance members, including competing prepaid card programs
    and other online accounts.
We market our cards and financial services to banked,
    underbanked, and unbanked consumers in the United States using
    distribution channels other than traditional bank branches, such
    as retailer locations nationwide and the Internet. Our prepaid
    debit cards are issued by third-party issuing banks, and we have
    relationships with several large card issuers including GE Money
    Bank, Columbus Bank and Trust Company, and National Bank of
    South Carolina. We also have distribution arrangements with many
    large and medium-sized retailers, such as Walmart, Walgreens,
    CVS, Rite Aid, Kroger, 7-Eleven, Radio Shack, Kmart, and Meijer,
    and with various industry resellers, such as Incomm, PaySpot,
    and Coinstar. We refer to participating retailers collectively
    as "our retail distributors."
2.
Summary of
    Significant Accounting Policies
Basis of
    Presentation
We have prepared the accompanying consolidated financial
    statements in conformity with accounting principles generally
    accepted in the United States, or GAAP. We have eliminated all
    significant intercompany balances and transactions in
    consolidation. Subsequent to July 31, 2009, we intend to
    issue our consolidated financial statements as of
    December 31, 2009 and for the five-month period then ended.
    Thereafter, we intend to issue our consolidated financial
    statements on a calendar year basis.
We consider an operating segment to be any component of our
    business whose operating results are regularly reviewed by our
    chief operating decision-maker to make decisions about resources
    to be allocated to the segment and assess its performance based
    on discrete financial information. Our Chief Executive Officer,
    our chief operating decision-maker, reviews our operating
    results on an aggregate basis and manages our operations and the
    allocation of resources as a single operating
    segment – prepaid cards and related services.
Unaudited Pro
    Forma Information
In February 2010, our board of directors authorized us to file a
    Registration Statement with the Securities and Exchange
    Commission, or the SEC, to permit us to proceed with an initial
    public offering of our common stock. Upon the consummation of
    the initial public offering contemplated, all of the outstanding
    shares of convertible preferred stock will automatically convert
    into shares of common stock. We prepared unaudited pro forma
    stockholders' equity as of October 31, 2009 assuming
    the conversion of the convertible preferred stock outstanding as
    of that date into 24,941,521 shares of common stock. The
    pro forma stockholders' equity as of October 31, 2009
    reflects the impact of the conversion as if the offering was
    consummated on October 31, 2009. We computed unaudited pro
    forma earnings per common share for the year ended July 31,
    2009 and the three months ended October 31, 2009 using the
    weighted average number of common shares outstanding, including
    the pro forma effect of the conversion of all currently
    outstanding convertible preferred stock into shares of our
    common stock, as if such conversion had occurred at the
    beginning of the respective periods. Our
F-7
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
2.
Summary of
    Significant Accounting Policies (Continued)
pro forma earnings per common share calculation for the year
    ended July 31, 2009 also included the effect of the
    redemption of our Series D redeemable convertible preferred
    stock as if that redemption had occurred at the beginning of the
    year ended July 31, 2009.
Unaudited Interim
    Financial Statements
The accompanying unaudited October 31, 2009 consolidated
    balance sheet, the consolidated statement of changes in
    redeemable convertible preferred stock and in stockholders'
    equity (deficit) for the three months ended October 31,
    2009 and the consolidated statements of operations and cash
    flows for the three months ended October 31, 2008 and
    October 31, 2009 and the related interim information
    contained within the notes to the consolidated financial
    statements have been prepared in accordance with the rules and
    regulations of the SEC for interim financial information.
    Accordingly, they do not include all of the information and the
    notes required by GAAP for complete financial statements. In our
    opinion, the unaudited interim consolidated financial statements
    reflect all adjustments, consisting of normal and recurring
    adjustments, necessary for the fair presentation of our
    financial position at October 31, 2009 and results of our
    operations and our cash flows for the three months ended
    October 31, 2008 and 2009. The results for the three months
    ended October 31, 2009 are not necessarily indicative of
    future results.
Recent Accounting
    Pronouncements
In June 2009, the Financial Accounting Standards Board, or FASB,
    approved the Accounting Standards Codification, or ASC, as the
    single source of authoritative accounting and reporting
    standards for all nongovernmental entities, with the exception
    of guidance issued by the SEC and its staff. The FASB ASC is
    effective for interim or annual periods ending after
    September 15, 2009. All existing accounting standards have
    been superseded, and all accounting literature not included in
    the FASB ASC is considered nonauthoritative. Our adoption of
    FASB ASC did not have an impact on our consolidated financial
    statements because it only amends the referencing to existing
    accounting standards.
In May 2009, the FASB issued a new standard for disclosing
    events that occur after the balance sheet date but before the
    financial statements are issued or are available to be issued.
    Additionally, the standard requires companies to disclose
    subsequent events as defined in the standard and to disclose the
    date through which we have evaluated subsequent events. The
    standard is effective for interim and annual periods ending
    after June 15, 2009. Our adoption of the standard did not
    have a material impact on our consolidated financial statements.
    See
Note 16 — Subsequent Events
for
    additional details.
In April 2009, the FASB issued a new accounting standard that
    requires us to include fair value disclosures of financial
    instruments for each interim and annual period for which
    financial statements are prepared. Our adoption of the standard
    did not have a material impact on our consolidated financial
    statements. See
Note 8 — Fair Values of
    Financial Instruments
for additional details.
In June 2008, the FASB issued a new accounting standard on
    determining whether instruments granted in share-based payment
    transactions are participating securities prior to vesting and
    therefore need to be included in the earnings allocation in
    calculating earnings per share under the two-class method.
    Unvested share-based payment awards that have non-forfeitable
    rights to dividend or dividend equivalents are treated as a
    separate class of securities in calculating earnings per share.
    The standard is effective for fiscal years beginning after
    December 15, 2008; earlier application was not permitted.
    Our adoption of the standard did not have a material effect on
    our results of operations or earnings per share.
F-8
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
2.
Summary of
    Significant Accounting Policies (Continued)
Use of Estimates
    and Assumptions
The preparation of financial statements in conformity with GAAP
    requires us to make estimates and assumptions that affect the
    amounts reported in the consolidated financial statements,
    including the accompanying notes. We base our estimates and
    assumptions on historical factors, current circumstances, and
    the experience and judgment of management. We evaluate our
    estimates and assumptions on an ongoing basis. Actual results
    could differ from those estimates.
Unrestricted Cash
    and Cash Equivalents
We consider all unrestricted highly liquid investments with an
    original maturity of three months or less to be unrestricted
    cash and cash equivalents.
Restricted
    Cash
We maintain restricted deposits in bank accounts to support our
    line of credit.
Settlement Assets
    and Obligations
Our retail distributors collect customer funds for purchases of
    new cards and cash transfer products and then remit these funds
    directly to bank accounts established on behalf of those
    customers by the third-party card issuing banks. The remittance
    of these funds by our retail distributors takes an average of
    three business days.
Settlement assets represent the amounts due from our retail
    distributors for customer funds collected at the point of sale
    that have not yet been remitted to the card issuing banks.
Settlement obligations represent the amounts due from us to the
    card issuing banks for funds collected but not yet remitted by
    our retail distributors and not funded by our line of credit.
We have no control over or access to customer funds remitted by
    our retail distributors to the bank accounts. Customer funds
    therefore are not our assets, and we do not recognize them in
    our consolidated financial statements. As of July 31, 2008
    and 2009 and October 31, 2009 (unaudited), total funds held
    in the bank accounts on behalf of our customers totaled
    $86.7 million, $127.5 million and $141.5 million,
    respectively, of which $7.6 million, $13.0 million and
    $11.6 million, respectively, related to funds for prepaid
    debit cards and cash transfer products that had not yet been
    activated by the customers.
Accounts
    Receivable, Net
Accounts receivable is comprised principally of overdrawn
    account balances due from cardholders, trade accounts
    receivable, new card and cash transfer fees due from card
    issuing banks, other receivables due from card issuing banks,
    and other receivables. We record accounts receivable net of
    reserves for estimated uncollectible accounts.
Overdrawn Account Balances Due from Cardholders and
    Reserve for Uncollectible Overdrawn Accounts
Cardholder account overdrafts arise from fee assessments or from
    purchase transactions that we honor, in each case in excess of
    the funds in a cardholder's account. We are exposed to
    losses from unrecovered cardholder account overdrafts. We
    establish a reserve for uncollectible overdrawn accounts for
    both fees assessed and purchase transactions in excess of a
    cardholder's account balance. The reserve for uncollectible
    overdrawn accounts represents our estimate of the portion of
    these receivables that will not be recovered. We base our
    estimate of the reserve upon historical overdraft recovery rates
    and our judgment regarding overall adequacy of the reserve. When
    a cardholder account has more than 90 days of inactivity,
    we consider the probability of recovery to be
F-9
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
2.
Summary of
    Significant Accounting Policies (Continued)
remote and we charge off the full amount of the overdrawn
    account balance. We include our provision for uncollectible
    overdrawn accounts related to fees as an offset to card revenues
    in the accompanying consolidated statements of operations. We
    include our provision for uncollectible overdrawn accounts
    related to purchase transactions as other general and
    administrative expenses in the accompanying consolidated
    statements of operations.
Property and
    Equipment
We carry our property and equipment at cost less accumulated
    depreciation and amortization. We generally compute depreciation
    on property and equipment using the straight-line method over
    the estimated useful lives of the assets, except for
    internal-use software in development, which is not depreciated.
    We generally compute amortization on tenant improvements using
    the straight-line method over the shorter of the related lease
    term or estimated useful lives of the improvements. We expense
    expenditures for maintenance and repairs as incurred.
The estimated useful lives of the respective classes of assets
    are as follows:
Computer equipment, furniture and office equipment
3 – 4 years
Computer software purchased
3 years
Capitalized internal-use software
2 years
Tenant improvements
Shorter of the useful life or the lease term
We capitalize certain internal and external costs incurred to
    develop internal-use software during the application development
    stage. We also capitalize the cost of specified upgrades and
    enhancements to internal-use software that result in additional
    functionality. Once a development project is substantially
    complete and the software is ready for its intended use, we
    begin depreciating these costs on a straight-line basis over the
    internal-use software's estimated useful life.
Impairment of
    Long Lived Assets
We evaluate long-lived assets for impairment whenever events or
    changes in circumstances indicate that the carrying amount of an
    asset may not be recoverable. If the sum of expected
    undiscounted future cash flows from an asset is less than the
    carrying amount of the asset, we recognize an impairment loss.
    We measure the loss as the amount by which the carrying amount
    exceeds its fair value calculated using the present value of
    estimated net future cash flows. Included in other general and
    administrative expenses in our consolidated statements of
    operations for the year ended July 31, 2009 and three
    months ended October 31, 2008 (unaudited) and 2009
    (unaudited) were $405,000, $89,000 and $36,000 of recognized
    impairment losses on internal-use software. We identified no
    indicators of impairment during the years ended July 31,
    2007 and 2008.
Amounts Due to
    Issuing Banks for Overdrawn Accounts
Our card issuing banks fund overdrawn cardholder account
    balances on our behalf. Amounts funded are due from us to the
    issuing banks based on terms specified in the agreements with
    the card issuing banks. Generally, we expect to settle these
    obligations within 12 months.
Amounts Due Under
    Line of Credit
After a consumer purchases a new card or cash transfer product
    at a retail location, we make the funds immediately available
    once the consumer goes online or calls a toll-free number to
    activate the new card or add funds from a cash transfer product.
    Since our retail distributors do not remit funds to our card
    issuing banks, on average, for three business days, we maintain
    a line of credit with certain
F-10
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
2.
Summary of
    Significant Accounting Policies (Continued)
card issuing banks that is available to fund any cash
    requirements related to the timing difference between funds
    remitted by our retail distributors to the card issuing banks
    and funds utilized by consumers. We repay any draws on this line
    of credit when our retail distributors remit the funds to the
    card issuing banks' bank accounts.
Revenue
    Recognition
Our operating revenues consist of card revenues, cash transfer
    revenues, and interchange revenues. We recognize revenue when
    the price is fixed or determinable, persuasive evidence of an
    arrangement exists, the product is sold or the service is
    performed, and collectibility of the resulting receivable is
    reasonably assured.
Card revenues consist of new card fees, monthly maintenance
    fees, ATM fees, and other revenues. We charge new card fees when
    a consumer purchases a new card in a retail store. We defer and
    recognize new card fees on a straight-line basis over our
    average card lifetime, which is currently nine months for our
    reloadable prepaid debit cards and six months for our
    non-reloadable cards. We determine the average card lifetime
    based on our recent historical data for comparable products. We
    measure card lifetime for our reloadable prepaid debit cards as
    the period of time, inclusive of reload activity, between sale
    (or activation) of the card and the date of the last positive
    balance. We measure the card lifetime for our non-reloadable
    (gift) cards as the redemption period during which cardholders
    perform the substantial majority of their transactions. We
    report the unearned portion of new card fees as a component of
    deferred revenue in our consolidated balance sheets. We charge
    maintenance fees on a monthly basis pursuant to the terms and
    conditions in the applicable cardholder agreements. We recognize
    monthly maintenance fees ratably over the month for which they
    are assessed. We charge ATM fees to cardholders when they
    withdraw money or conduct other transactions at ATMs in
    accordance with the terms and conditions in the applicable
    cardholder agreements. We recognize ATM fees when the withdrawal
    is made by the cardholder, which is the same time the fees are
    assessed. Other revenues consist of customer service fees, and
    fees associated with optional products or services, which we
    generally offer to consumers during the card activation process.
    We charge customer service fees pursuant to the terms and
    conditions in the applicable cardholder agreements and recognize
    them when the underlying services are completed. Optional
    products and services that generate other revenues include
    providing a second card for an account, expediting delivery of
    the personalized debit card that replaces the temporary card
    obtained at the retail store, and upgrading a cardholder account
    to one of our upgrade programs. We generally recognize revenue
    related to optional products and services when the underlying
    services are completed, but we treat revenues related to our
    upgrade programs in a manner similar to new card fees and
    monthly maintenance fees.
We generate cash transfer revenues when consumers purchase our
    cash transfer products (reload services) in a retail store. We
    recognize these revenues when the cash transfer transactions are
    completed, generally within three business days from the time of
    sale of these products.
We earn interchange revenues from fees remitted by the
    merchant's bank, which are based on rates established by
    Visa and MasterCard, when cardholders make purchase transactions
    using our cards. We recognize interchange revenues as these
    transactions occur.
We report our different types of revenues on a gross or net
    basis based on our assessment of whether we act as a principal
    or an agent in the transaction. To the extent we act as a
    principal in the transaction, we report revenues on a gross
    basis. In concluding whether or not we act as a principal or an
    agent, we evaluate whether we have the substantial risks and
    rewards under the terms of the revenue-generating arrangements,
    whether we are the party responsible for fulfillment of the
    services
F-11
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
2.
Summary of
    Significant Accounting Policies (Continued)
purchased by the cardholders, and other factors. For all of our
    significant revenue arrangements, including reloadable and
    non-reloadable cards, we record revenues on a gross basis.
Generally, customers have limited rights to a refund of a new
    card fee or a cash transfer fee. We have elected to recognize
    revenues prior to the expiration of the refund period, but
    reduce revenues by the amount of expected refunds, which we
    estimate based on actual historical refunds.
On occasion, we enter into incentive agreements with our retail
    distributors designed to increase product acceptance and sales
    volume. We capitalize incentive payments that we make in
    instances where we receive a preferred product placement for a
    negotiated period of time. We amortize capitalized amounts as a
    reduction of revenues over that period.
Sales and
    Marketing Expenses
Sales and marketing expenses primarily consist of sales
    commissions, advertising and marketing expenses, and the costs
    of manufacturing and distributing card packages, placards, and
    promotional materials to our retail distributors' locations
    and providing personalized debit cards to consumers who have
    activated their cards.
We pay our retail distributors commissions based on sales of our
    prepaid debit cards and cash transfer products in their stores.
    We defer and expense commissions related to new cards sales
    ratably over the average card lifetime, which is currently nine
    months for our reloadable prepaid debit cards and six months for
    our non-reloadable cards. We expense commissions related to cash
    transfer products when the cash transfer transactions are
    completed. Sales commissions were $26.2 million,
    $40.7 million, and $50.8 million for the years ended
    July 31, 2007, 2008, and 2009, respectively, and
    $12.0 million and $11.6 million for the three months
    ended October 31, 2008 (unaudited) and 2009 (unaudited),
    respectively.
We expense costs for the production of advertising as incurred.
    The cost of media advertising is expensed when the advertising
    first takes place. Advertising and marketing expenses were
    $7.2 million, $13.6 million, and $7.0 million for
    the years ended July 31, 2007, 2008, and 2009,
    respectively, and $5.2 million and $0.8 million for
    the three months ended October 31, 2008 (unaudited) and
    2009 (unaudited), respectively.
We record the costs associated with card packages and placards
    as prepaid expenses, and we record the costs associated with
    personalized debit cards as deferred expenses. We recognize the
    prepaid cost of card packages and placards over the related
    sales period, currently six months, and we amortize the deferred
    cost of personalized cards, when activated, over the average
    card lifetime, currently nine months. Our manufacturing and
    distributing costs were $5.5 million, $15.3 million,
    and $18.0 million for the years ended July 31, 2007,
    2008, and 2009, respectively, and $3.3 million and
    $5.7 million for the three months ended October 31,
    2008 (unaudited) and 2009 (unaudited), respectively. Included in
    our manufacturing and distributing costs were shipping and
    handling costs of $0.5 million, $1.3 million, and
    $2.3 million for the years ended July 31, 2007, 2008,
    and 2009, respectively, and $0.5 million and
    $0.7 million for the three months ended October 31,
    2008 (unaudited) and 2009 (unaudited), respectively. Also
    included in our manufacturing and distributing costs was the
    liability that we incur for use tax to various states related to
    purchases of materials since no sales tax is charged to
    customers when new cards or cash transfer transactions are
    purchased.
Stock-Based
    Compensation
Effective August 1, 2006, we adopted a new accounting
    standard related to stock-based compensation. We adopted the new
    standard using the prospective transition method, which required
F-12
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
2.
Summary of
    Significant Accounting Policies (Continued)
compensation expense to be recognized on a prospective basis,
    and therefore prior period financial statements do not include
    the impact of our adoption of this standard. Compensation
    expense recognized relates to stock options granted, modified,
    repurchased, or cancelled on or after August 1, 2006. We
    record compensation expense using the fair value method of
    accounting. We base compensation expense on per option fair
    values, estimated at the grant date using the Black-Scholes
    option-pricing model. We recognize compensation expense for
    awards with only service conditions that have graded vesting
    schedules on a straight-line basis over the vesting period of
    the award. Vesting is based upon continued service to our
    company.
We continued to account for stock options granted to employees
    prior to August 1, 2006, using the intrinsic value method.
    Under the intrinsic value method, compensation associated with
    stock awards to employees was determined as the difference, if
    any, between the fair value of the underlying common stock on
    the grant date, and the price an employee must pay to exercise
    the award. For additional information, refer to
Note 11 — Stock-Based Compensation
.
We also measure the fair value of equity instruments issued to
    non-employees using the Black-Scholes option-pricing model and
    recognize related expense in the same periods that the goods or
    services are received. For additional information, refer to
Note 10 — Redeemable Convertible Preferred
    Stock and Stockholders' Equity (Deficit)
.
Income
    Taxes
Our income tax expense is comprised of current and deferred
    income tax expense. Current income tax expense approximates
    taxes to be paid or refunded for the current period. Deferred
    income tax expense results from the changes in deferred tax
    assets and liabilities during the periods. These gross deferred
    tax assets and liabilities represent decreases or increases in
    taxes expected to be paid in the future because of future
    reversals of temporary differences between the bases of assets
    and liabilities as measured by tax laws and their bases as
    reported in our consolidated financial statements. We also
    recognize deferred tax assets for tax attributes such as net
    operating loss carryforwards and tax credit carryforwards. We
    record valuation allowances to reduce deferred tax assets to the
    amounts we conclude are more
likely-than-not
to be realized in the foreseeable future.
We recognize and measure income tax benefits based upon a
    two-step model: 1) a tax position must be more
likely-than-not
to be sustained based solely on its technical merits in order to
    be recognized, and 2) the benefit is measured as the
    largest dollar amount of that position that is more
likely-than-not
to be sustained upon settlement. The difference between the
    benefit recognized for a position and the tax benefit claimed on
    a tax return is referred to as an unrecognized tax benefit. We
    accrue income tax related interest and penalties, if applicable,
    within income tax expense.
For additional information, refer to
Note 6 —
    Income Taxes
.
Earnings (Loss)
    Per Common Share
The holders of our preferred stock are entitled to participate
    in dividends and earnings of our company. Therefore, we apply
    the two-class method in calculating earnings per common share.
    The two-class method requires net income, after deduction of any
    preferred stock dividends, deemed dividends on preferred stock
    redemptions, and accretions in the carrying value on preferred
    stock, to be allocated between the common and preferred
    stockholders based on their respective rights to receive
    dividends, whether or not declared. Basic earnings (loss) per
    common share is then calculated by dividing net income (loss)
    allocated to common stockholders, after the reduction for
    earnings allocated to preferred stock, by the weighted-average
    common shares issued and outstanding.
F-13
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
2.
Summary of
    Significant Accounting Policies (Continued)
In addition, for diluted earnings per common share, the
    conversion of convertible preferred stock can affect net income
    (loss) allocated to common stockholders. Where the effect of
    this conversion is dilutive, we adjust net income (loss)
    allocated to common stockholders by the associated preferred
    dividends. We divide adjusted net income by the weighted-average
    number of common shares issued and outstanding for each period
    plus amounts representing the dilutive effect of outstanding
    stock options and outstanding warrants, and the dilution
    resulting from the conversion of convertible preferred stock, if
    applicable. We exclude the effects of convertible preferred
    stock and outstanding warrants and stock options from the
    computation of diluted earnings (loss) per common share in
    periods in which the effect would be antidilutive. We calculate
    dilutive potential common shares using the treasury stock
    method, if-converted method and the two-class method, as
    applicable.
For additional information, refer to
Note 12
—
Earnings Per Common Share
.
3.
Accounts
    Receivable
Accounts receivable consisted of the following (in thousands):
July 31,
October 31,
2008
2009
2009
(Unaudited)
Overdrawn account balances due from cardholders
$
9,231
$
10,165
$
10,774
Reserve for uncollectible overdrawn accounts
(5,277
)
(6,448
)
(7,004
)
Net overdrawn account balances due from cardholders
3,954
3,717
3,770
Trade receivables
5,887
9,727
10,533
Reserve for uncollectible trade receivables
(248
)
(114
)
(90
)
Net trade receivables
5,639
9,613
10,443
New card fees and cash transfer fees due from card issuing banks
3,660
4,416
4,781
Other receivables due from card issuing banks
—
1,870
1,996
Other receivables
827
1,708
1,129
Accounts receivable, net
$
14,080
$
21,324
$
22,119
Activity in the reserve for uncollectible overdrawn accounts
    consisted of the following (in thousands):
July 31,
October 31,
2007
2008
2009
2009
(Unaudited)
Balance, beginning of the year
$
2,104
$
2,718
$
5,277
$
6,448
Provision for uncollectible overdrawn accounts:
Fees
6,519
13,652
20,187
5,947
Purchase transactions
1,390
2,483
2,361
539
Charge-offs
(7,295
)
(13,576
)
(21,377
)
(5,930
)
Balance, end of year
$
2,718
$
5,277
$
6,448
$
7,004
F-14
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
4.
Property and
    Equipment
Property and equipment consisted of the following (in thousands):
July 31,
October 31,
2008
2009
2009
(Unaudited)
Computer equipment, furniture, and office equipment
$
6,296
$
7,812
$
8,624
Computer software purchased
2,062
2,879
3,213
Capitalized internal-use software
9,470
13,078
14,402
Tenant improvements
882
1,097
1,126
18,710
24,866
27,365
Less accumulated depreciation and amortization
(11,614
)
(16,187
)
(17,457
)
Property and equipment, net
$
7,096
$
8,679
$
9,908
Depreciation and amortization expense was $3.5 million,
    $4.4 million, and $4.6 million for the years ended
    July 31, 2007, 2008, and 2009, respectively, and
    $1.1 million and $1.3 million for the three months
    ended October 31, 2008 (unaudited) and 2009 (unaudited),
    respectively. Included in those amounts are depreciation expense
    related to internal-use software of $1.7 million,
    $2.4 million, and $2.5 million for the years ended
    July 31, 2007, 2008, and 2009, respectively, and
    $0.6 million and $0.7 million for the three months
    ended October 31, 2008 (unaudited) and 2009 (unaudited),
    respectively. The net carrying value of capitalized internal-use
    software was $3.0 million, $3.6 million,
    $4.7 million and $5.3 million at July 31, 2007,
    2008, and 2009 and October 31, 2009 (unaudited),
    respectively.
5.
Related Party
    Transactions
We loaned $3.0 million in March 2004 and $0.8 million
    in February 2006 to our current Chief Executive Officer bearing
    interest at rates of 3.5% and 4.5%, respectively, compounded
    semiannually. All principal and unpaid interest outstanding
    under the loans is due in March 2011. The loans are
    collateralized by 2,500,000 shares of our common stock
    owned by the officer and pledged under a stock pledge agreement.
    We classified the outstanding balance of these loans, including
    capitalized interest of $575,000, $735,000 and $776,000 at
    July 31, 2008 and 2009 and October 31, 2009
    (unaudited), respectively, as a reduction in stockholders'
    equity. We recorded interest on these loans of $150,000,
    $155,000, and $160,000 for the years ended July 31, 2007,
    2008, and 2009, respectively, and $40,000 and $41,000 for the
    three months ended October 31, 2008 (unaudited) and 2009
    (unaudited), respectively, as additional
paid-in-capital.
During the three-year period ended July 31, 2009, we loaned
    an aggregate amount of $1.1 million to an executive to
    purchase common stock. The $1.1 million was loaned in seven
    installments, each installment ranging from $18,000 to $622,000.
    The interest rate on the loan is specified for each installment
    and ranges from 2.72% to 5.14%, compounded semiannually. All
    principal and unpaid interest outstanding under the loan is due
    in May 2013. The loan is collateralized by 898,000 shares
    of our common stock owned by the officer and a full recourse
    promissory note. We classified the outstanding balance of the
    loan, including capitalized interest of $77,000, $127,000 and
    $140,000 at July 31, 2008 and 2009 and October 31,
    2009 (unaudited), respectively, as a reduction in
    stockholders' equity. We recorded interest on these loans
    of $41,000, $36,000, and $50,000 for the years ended
    July 31, 2007, 2008, and 2009, respectively, and $10,000
    and $13,000 for the three months ended October 31, 2008
    (unaudited) and 2009 (unaudited), respectively, as additional
paid-in-capital.
F-15
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
5.
Related Party
    Transactions (Continued)
We loaned $120,000 in February 2008 to our current Chief
    Financial Officer to purchase common stock. The loan bears an
    interest rate of 3.48%, compounded semiannually. All principal
    and unpaid interest outstanding under the loan is due in
    February 2015. The loan is collateralized by 85,000 shares
    of our common stock owned by the officer and a full recourse
    promissory note. We classified the outstanding balance of the
    loan, including capitalized interest of $2,000, $7,000 and
    $8,000 at July 31, 2008 and 2009 and October 31, 2009
    (unaudited), respectively, as a reduction in stockholders'
    equity. We recorded interest on the loan of $2,000 and $5,000
    for the years ended July 31, 2008 and 2009, respectively,
    and $1,000 and $1,000 for the three months ended
    October 31, 2008 (unaudited) and 2009 (unaudited),
    respectively, as additional
paid-in-capital.
As discussed in
Note 16 — Subsequent
    Events
, all of these related party notes receivable were
    repaid in full subsequent to October 31, 2009.
6.
Income
    Taxes
The components of income tax expense (benefit) for the years
    ended July 31, 2007, 2008, and 2009 were as follows (in
    thousands):
Year Ended July 31,
2007
2008
2009
Current:
Federal
$
(629
)
$
9,611
$
22,645
State
(82
)
2,610
5,988
Current income tax expense (benefit)
(711
)
12,221
28,633
Deferred:
Federal
(2,121
)
74
(1,662
)
State
(514
)
(34
)
(69
)
Deferred income tax expense (benefit)
(2,635
)
40
(1,731
)
Income tax expense (benefit)
$
(3,346
)
$
12,261
$
26,902
Income tax expense (benefit) for the years ended July 31,
    2007, 2008 and 2009 varied from the amount computed by applying
    the federal statutory income tax rate to income before income
    taxes. A reconciliation between the expected federal income tax
    expense using the federal statutory tax rate of 35% and our
    actual income tax expense (benefit) for the years ended
    July 31, 2007, 2008 and 2009 was as follows:
Year Ended July 31,
2007
2008
2009
U.S. federal income tax
35.0
%
35.0
%
35.0
%
State income taxes, net of federal benefit
6.1
5.7
6.1
Change in valuation allowance
(288.9
)
—
—
Other
(9.4
)
0.7
0.9
Income tax expense (benefit)
(257.2
)%
41.4
%
42.0
%
Income tax expense was $4.2 million and $7.5 million
    for the three months ended October 31, 2008 (unaudited) and
    2009 (unaudited), respectively, with an effective tax rate of
    42%. The effective tax rate for the three months ended
    October 31, 2008 (unaudited) and 2009 (unaudited) differ
    from
F-16
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
6.
Income Taxes
    (Continued)
the expected federal statutory tax rate of 35% primarily due to
    state income taxes, net of the federal benefit.
The tax effects of temporary differences that give rise to
    significant portions of our deferred tax assets and liabilities
    were as follows (in thousands):
July 31,
2008
2009
Deferred tax assets:
Reserve for overdrawn accounts
$
3,102
$
2,827
State income taxes
696
1,898
Stock-based compensation
600
1,002
Other
648
956
Total deferred tax assets
5,046
6,683
Deferred tax liabilities:
Internal-use software costs
(975
)
(2,019
)
Deferred expenses
(1,572
)
(364
)
Property and equipment, net
(77
)
(147
)
Total deferred tax liabilities
(2,624
)
(2,530
)
Net deferred tax assets
$
2,422
$
4,153
Total net deferred tax assets and liabilities are included in
    our consolidated balance sheets as follows:
July 31,
2008
2009
Current net deferred tax assets
$
4,446
$
5,681
Noncurrent net deferred tax liabilities
(2,024
)
(1,528
)
Net deferred tax assets
$
2,422
$
4,153
In assessing whether a valuation allowance is needed for our
    deferred tax assets, we consider whether it is more
likely-than-not
that some portion or all of the deferred tax assets will not be
    realized. The ultimate realization of our deferred tax assets is
    dependent upon our generation of sufficient taxable income of
    the appropriate character during the periods in which those
    temporary differences become deductible. We consider the
    scheduled reversal of deferred tax liabilities and projected
    future taxable income in making this assessment. Based upon the
    level of our historical taxable income and projections of our
    future taxable income over the periods in which the temporary
    differences resulting in the deferred tax assets are deductible,
    we believe it is more likely than not that we will realize the
    benefits of our deferred tax assets. Accordingly, we recorded no
    valuation allowance as of July 31, 2008 and 2009.
During the year ended July 31, 2008, we utilized
    approximately $2.8 million of federal and approximately
    $2.7 million of state net operating loss carryforwards. As
    of July 31, 2009, we have no unutilized net operating loss
    carryforwards.
In accounting for income taxes, we followed the guidance related
    to uncertainty in income taxes. The guidance prescribes a
    comprehensive framework for the financial statement recognition,
    measurement, presentation, and disclosure of uncertain income
    tax positions that we have taken or anticipate taking in a tax
    return, and includes guidance on de-recognition, classification,
    interest and
F-17
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
6.
Income Taxes
    (Continued)
penalties, accounting in interim periods, and transition rules.
    We have concluded that we have no significant unrecognized tax
    benefits. We are subject to examination by the Internal Revenue
    Service, or IRS, and various state tax authorities. Our
    consolidated federal income tax returns for the years ended
    July 31, 2005 and 2008 have been examined by the IRS, and
    there have been no material changes in our tax liabilities for
    those years. We generally remain subject to examination of our
    federal income tax returns for the year ended July 31, 2006
    and later years. We generally remain subject to examination of
    our various state income tax returns for a period of four to
    five years from the respective dates the returns were filed.
7.
Borrowing
    Agreements
In March 2009, we increased the balance available on our line of
    credit from $12.0 million to $15.0 million. This line
    of credit matures on March 24, 2010, and bears interest at
    LIBOR (as published in
The Wall Street Journal
) plus
    1.50%. The line of credit is collateralized by substantially all
    of our assets, including a restricted cash deposit at the
    lending institution of $15.0 million. There was no
    outstanding borrowing on this line of credit at July 31,
    2008 and 2009 or October 31, 2009 (unaudited).
8.
Fair Values of
    Financial Instruments
Our financial instruments, including unrestricted cash and cash
    equivalents, restricted cash, settlement assets and obligations,
    accounts receivable, certain other assets, accounts payable, and
    other accrued liabilities, are short-term, and, accordingly, we
    believe their carrying amounts approximate their respective fair
    values.
9.
Concentrations of
    Credit Risk
Financial instruments that subject us to concentration of credit
    risk consist primarily of unrestricted cash and cash
    equivalents, restricted cash, accounts receivable, and
    settlement assets. We deposit our unrestricted cash and cash
    equivalents and our restricted cash with regional and national
    banking institutions, including certain of our card issuing
    banks, that we periodically monitor and evaluate for
    creditworthiness. Credit risk for our accounts receivable is
    concentrated with card issuing banks and our customers, and this
    risk is mitigated by the relatively short collection period and
    our large customer base. We do not require or maintain
    collateral for accounts receivable. We maintain reserves for
    uncollectible overdrawn accounts and uncollectible trade
    receivables. Credit risk for our settlement assets is
    concentrated with our retail distributors, which we periodically
    monitor.
10.
Redeemable
    Convertible Preferred Stock and Stockholders' Equity
    (Deficit)
Redeemable
    Convertible Preferred Stock
In October 2006, we entered into an agreement with a card
    issuing bank to provide a co-branded GPR card program with a
    major retail distributor. We also entered into equity financing
    transactions with the bank and an affiliated investment entity,
    under which we issued a warrant to purchase 500,000 shares
    of our common stock in October 2006 and 2.9 million shares
    of Series D redeemable convertible preferred stock, or
    Series D, in December 2006. We received cash consideration
    of $20.0 million from the equity financing transactions.
    The holder of Series D was entitled to receive
    noncumulative dividends at a per annum rate of $0.547 per share
    and to participate in dividends on common stock on an
    as-converted basis, subject to the declaration by our board of
    directors out of funds legally available. Series D was
    redeemable for cash at the option of the holder on the seventh
    anniversary of its issuance. Series D was also convertible
    into our common stock any time prior to redemption, at the
    option of the holder, based on a conversion ratio. In the event
    of any liquidation,
F-18
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
10.
Redeemable
    Convertible Preferred Stock and Stockholders' Equity
    (Deficit) (Continued)
dissolution or winding up of our company, the holder of
    Series D was entitled to receive an amount equal to $6.834
    per share plus 20% per annum from the date of issuance.
The freestanding warrant we issued entitled the holder to
    purchase 500,000 shares of our common stock at a per share
    price of $6.834 any time prior to the earliest of: a) the
    date of our initial public offering; b) the date of a
    change in control of our company; or c) October 27,
    2013. The warrant was not redeemable.
We allocated the proceeds from the issuance of the Series D
    and the freestanding warrant to these instruments on a relative
    fair value basis. The initial allocated value of the warrant
    calculated using an option-pricing model was $1.3 million.
    As the warrant allowed settlement only in the underlying common
    stock, it was recorded at its initial allocated value as a
    component of additional paid-in capital.
Due to the nature of the redemption feature and other
    provisions, we classified Series D as temporary equity at
    its initial allocated value of $18.7 million. We determined
    that Series D did not contain any beneficial conversion
    features. We accreted the carrying value of the stock to its
    redemption value at each reporting period with a charge to
    retained earnings.
On December 19, 2008, we entered into an agreement with the
    sole holder of Series D for an early redemption of the
    2,926,458 outstanding shares. The agreed redemption value was
    $39.2 million, or $13.38 per share, which we paid in cash
    on December 19, 2008. Upon redemption, the Series D
    preferred shares were canceled.
In addition, on December 19, 2008, we purchased a call
    option, which entitled us to purchase the freestanding warrant
    on 500,000 shares of common stock at an exercise price of
    approximately $2.0 million. The call option was exercisable
    any time during the period March 1, 2009 to
    September 1, 2009. In June 2009, we exercised the call
    option and repurchased the warrant.
Convertible
    Preferred Stock
Our convertible preferred stock at July 31, 2008 and 2009
    and October 31, 2009 (unaudited) consisted of the following
    (in thousands):
July 31,
    2008
Proceeds Net of
Number of Shares
Liquidation
Issuance
Series
Authorized
Outstanding
Amount
Costs
Series A
6,520
6,481
$
1,953
$
1,899
Series B
3,197
3,177
2,186
2,008
Series C
10,114
9,939
8,230
8,136
Series C-1
4,541
4,240
5,976
5,976
24,372
23,837
$
18,345
$
18,019
F-19
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
10.
Redeemable
    Convertible Preferred Stock and Stockholders' Equity
    (Deficit) (Continued)
July 31,
    2009
Proceeds Net of
Number of Shares
Liquidation
Issuance
Series
Authorized
Outstanding
Amount
Costs
Series A
6,520
6,404
$
1,930
$
1,877
Series B
3,197
3,177
2,186
2,008
Series C
10,114
9,939
8,230
8,136
Series C-1
4,541
4,240
5,976
5,976
Series C-2
1,182
1,182
13,000
12,979
25,554
24,942
$
31,322
$
30,976
October 31,
    2009 (Unaudited)
Proceeds Net of
Number of Shares
Liquidation
Issuance
Series
Authorized
Outstanding
Amount
Costs
Series A
6,520
6,404
$
1,930
$
1,877
Series B
3,197
3,177
2,186
2,008
Series C
10,114
9,939
8,230
8,136
Series C-1
4,541
4,240
5,976
5,976
Series C-2
1,182
1,182
13,000
12,979
25,554
24,942
$
31,322
$
30,976
Our Certificate of Incorporation specifies the following rights,
    preferences, and privileges for our preferred stockholders.
Voting
Each share of Series A, B, C, C-1, and C-2 convertible
    preferred stock has voting rights equal to the number of shares
    of common stock into which it is convertible and votes together
    as one class with the common stock. Our preferred stockholders
    are entitled to elect four directors. Additionally, the holders
    of our Series C, C-1 and C-2 shares, voting together,
    are entitled to elect one director. The approval of at least 67%
    of the then-outstanding number of shares of convertible
    preferred stock and a majority of the then-outstanding
    Series C, C-1 and C-2 convertible preferred stock, voting
    together as a separate class, is required to, among other
    things: change the rights and preferences of our preferred
    stock; change our authorized share capital; redeem shares of our
    capital stock; increase the number of shares available for
    issuance under our stock plan; declare or pay any dividend; take
    any action that results in a merger, sale of control, or any
    other transaction in which all or substantially all of our
    assets or more than 50% of the voting power of our company is
    disposed of; and the dissolution or winding up of our company.
Dividends
Our Series A, B, C, C-1, and C-2 convertible preferred
    stockholders are entitled to receive noncumulative dividends at
    the per annum rates of $0.024, $0.055, $0.066, $0.113, and
    $0.88, respectively, when and if declared by our board of
    directors. The holders of Series A, B, C, C-1, and C-2
    convertible preferred stock will also be entitled to participate
    in dividends on our common stock, when and if declared by our
    board of directors, on an as-converted basis. Our board of
    directors did
F-20
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
10.
Redeemable
    Convertible Preferred Stock and Stockholders' Equity
    (Deficit) (Continued)
not declare any dividends on our convertible preferred stock or
    common stock during the three-year period ended July 31,
    2009.
Liquidation
In the event of any liquidation, dissolution, or winding up of
    our company, the available funds and assets that may be legally
    distributed to our stockholders will be distributed, without
    preference, to the holders of our Series A, B, C, C-1, and
    C-2 convertible preferred stock at amounts equal to $0.30,
    $0.69, $0.83, $1.41, and $11.00 per share, respectively. Upon
    completion of the distributions to each series of convertible
    preferred stock, all remaining funds and assets available for
    distribution are required to be distributed on a pro rata basis
    among holders of our common stock. If upon any liquidation,
    dissolution, or winding up of our company, the available funds
    and assets are insufficient to permit the payment to holders of
    each series of convertible preferred stock of the full
    preferential amounts, then the entire remaining funds and assets
    will be distributed on a pro rata basis among holders of each
    series of convertible preferred stock in proportion to their
    preferential amounts.
A liquidation, dissolution, or winding up of our company
    includes the acquisition of our company by another entity by
    merger, consolidation, sale of voting control, or any other
    transaction or series of transactions in which all our
    stockholders immediately prior to such transaction hold less
    than 50% of the voting power of the surviving entity. Upon such
    an event, all of the holders of each class of stock are eligible
    to participate in all available remaining funds and assets.
Conversion
Each share of Series A, B, C, C-1, and C-2 convertible
    preferred stock is convertible into our common stock, at the
    option of the holder, according to a conversion ratio, subject
    to adjustment for dilution. Each share of Series A, B, C,
    C-1, and C-2 convertible preferred stock automatically converts
    into the number of shares of common stock into which such shares
    are convertible at the then-effective conversion ratio upon:
    (1) the closing of a public offering of common stock at a
    per share price of at least $2.48 per share with gross proceeds
    of at least $25 million, or (2) the consent of the
    holders of the majority of our convertible preferred stock,
    provided, however, that no shares of Series C, C-1, or C-2
    convertible preferred stock will automatically be converted
    pursuant to such consent unless a majority of the
    then-outstanding Series C, C-1, and C-2 convertible
    preferred stockholders, voting together as separate class, also
    consent to such conversion.
Registration
    Rights Agreement
We are a party to a registration rights agreement with certain
    of our investors, pursuant to which we have granted those
    persons or entities the right to register shares of common stock
    held by them under the Securities Act of 1933, as amended, or
    the Securities Act. Holders of these rights are entitled to
    demand that we register their shares of common stock under the
    Securities Act so long as certain conditions are satisfied and
    require us to include their shares of common stock in future
    registration statements that may be filed, either for our own
    account or for the account of other security holders exercising
    registration rights. In addition, after an initial public
    offering, these holders have the right to request that their
    shares of common stock be registered on a
Form S-3
registration statement so long as certain conditions are
    satisfied and the anticipated aggregate sales price of the
    registered shares as of the date of filing of the
Form S-3
registration statement is at least $1 million. The
    foregoing registration rights are subject to various conditions
    and limitations, including the right of underwriters of an
    offering to limit the number of registrable securities that may
    be included in an offering. The registration rights terminate as
    to any particular shares on the date on which the holder sells
    such shares to the public in a registered offering or pursuant
    to Rule 144 under the Securities
F-21
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
10.
Redeemable
    Convertible Preferred Stock and Stockholders' Equity
    (Deficit) (Continued)
Act. We are generally required to bear all of the expenses of
    these registrations, except underwriting commissions, selling
    discounts and transfer taxes.
We are not obligated under the registration rights agreement to
    transfer consideration, whether in cash, equity instruments, or
    adjustments to the terms of the financial instruments that are
    subject to the registration payment arrangement, to the
    investors, if the registration statement is not declared
    effective within the specified time or if effectiveness of the
    registration statement is not maintained.
Stock Repurchase
    Agreement
On January 22, 2007, we entered into a Stock Repurchase
    Agreement with Related Stock Cancellation Provisions with
    certain stockholders to repurchase 2,926,458 common and
    preferred shares. In addition, we purchased a call option from
    these stockholders that gave us the right to obtain and cancel
    an additional 2,926,458 shares from these stockholders. We
    paid an aggregate consideration of $20.0 million related to
    these transactions. Upon redemption of all Series D
    preferred stock, the call option was canceled on
    December 19, 2008.
Non-Employee
    Stock-Based Payments
At July 31, 2009 and October 31, 2009, options to
    purchase 283,786 shares of
Series C-1
preferred stock at an exercise price of $1.41 per share were
    outstanding. These options were issued in 2005, and are
    exercisable any time prior to their expiration date of
    February 11, 2012. We recognized stock-based compensation
    of $319,000 for these options during 2005, 2006, and 2007 and
    included it as a component of additional paid-in capital.
On March 3, 2009, we entered into a sales and marketing
    agreement with a third party that contained a contingent warrant
    feature. The warrant provides the third party with an option to
    purchase 3,426,765 shares of our common stock at a per
    share price of $23.70 if certain sales volume or revenue targets
    are achieved. A further 856,691 shares become eligible for
    purchase under the warrant should either of these targets be
    achieved and additional specified marketing and promotional
    activities take place.
The shares become eligible for purchase under the warrant at any
    time the targets are achieved prior to the earlier of
    March 3, 2014 or the termination of the sales and marketing
    agreement. Once eligible for purchase, the purchase option
    expires on the earliest of: (1) the date at which the sales
    and marketing agreement with the third-party is terminated;
    (2) the date of a change of control transaction of our
    company; or (3) March 3, 2017.
The warrant is not redeemable for cash by the holder unless we
    fail to perform in accordance with the customary contractual
    terms of the sales and marketing agreement. Should the third
    party fail to perform in accordance with the terms of the sales
    and marketing agreement, we obtain an option to repurchase any
    shares previously issued under the warrant.
As the option to purchase shares under the warrant is contingent
    upon the achievement of certain sales volume or revenue targets,
    there is a possibility that no shares will become eligible for
    purchase. Based on different possible outcomes, we developed a
    range of fair values for the warrant, and we measured the
    warrant at its current lowest aggregate fair value within that
    range. As none of the performance conditions have been met, the
    lowest aggregate fair value is zero. Accordingly, we have not
    assigned any value to the warrant in our consolidated financial
    statements as of July 31, 2009 or October 31, 2009
    (unaudited).
F-22
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
11.
Stock-Based
    Compensation
Stock
    Plan
In January 2001, we adopted the 2001 Stock Plan, or the Plan.
    The Plan provides for the granting of incentive stock options,
    nonqualified stock options and other stock awards. Our officers,
    employees, outside directors, and consultants are eligible to
    receive stock-based awards under the Plan; however, incentive
    stock options may only be granted to our officers and employees.
    During the year ended July 31, 2009, we increased the
    number of shares of common stock reserved for issuance under the
    Plan from 9,643,134 shares to 9,943,134 shares.
    Options granted under the Plan generally vest over four years
    and expire five or ten years from the date of grant.
The total stock-based compensation expense recognized was
    $0.2 million, $1.2 million, and $2.5 million for
    the years ended July 31, 2007, 2008, and 2009,
    respectively, and $0.6 million and $0.7 million for
    the three months ended October 31, 2008 (unaudited) and
    2009 (unaudited), respectively. The total income tax benefit
    recognized as a component of income tax expense for stock-based
    compensation arrangements was $0, $0.3 million, and
    $0.4 million for the years ended July 31, 2007, 2008,
    and 2009, respectively, and $0.1 million and
    $0.1 million for the three months ended October 31,
    2008 (unaudited) and 2009 (unaudited), respectively.
We estimated the fair value of each employee option grant on the
    date of grant using the following weighted-average assumptions:
Year Ended July 31,
Three Months Ended October 31,
2007
2008
2009
2008
2009
(Unaudited)
Risk-free interest rate
4.52
%
2.98
%
2.26
%
3.32
%
2.88
%
Expected term (life) of options (in years)
6.08
6.08
6.08
6.08
6.08
Expected dividends
—
—
—
—
—
Expected volatility
54.3
%
54.3
%
53.2
%
48.0
%
56.0
%
Determining the fair value of stock-based awards at their
    respective grant dates requires considerable judgment, including
    estimating expected volatility and expected term (life). We
    based our expected volatility on the historical volatility of
    comparable public companies over the option's expected
    term. We calculated our expected term based on the simplified
    method, which is the mid-point between the weighted-average
    graded-vesting term of 2.16 years and the contractual term
    of 10 years, resulting in 6.08 years. The simplified
    method was chosen as a means to determine expected term as there
    is limited historical option exercise experience due to our
    company being privately held. We derived the risk-free rate from
    the average yield for the five-and seven-year zero-coupon
    U.S. Treasury Strips. We estimate forfeitures at the grant
    date based on our historical forfeiture rate since the
    Plan's inception and revise the estimate, if necessary, in
    subsequent periods if actual forfeitures differ from those
    estimates.
The weighted-average fair value of options granted was $2.17,
    $2.49, and $6.98 per share for the years ended July 31,
    2007, 2008, and 2009, respectively, and $10.36 and $9.50 per
    share for the three months ended October 31, 2008
    (unaudited) and 2009 (unaudited), respectively.
Stock Option
    Modification
On December 11, 2008, our board of directors approved the
    modification of options to purchase 155,500 shares of
    common stock previously granted on August 12, 2008, to
    decrease the exercise price from $17.90 to $10.75. The stock
    option modification resulted in incremental stock-based
    compensation expense of $214,000, of which $38,000 was
    recognized for the year ended July 31, 2009 and $176,000
    will be recognized over the remaining vesting period.
F-23
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
11.
Stock-Based
    Compensation (Continued)
Option activity for the years ended July 31, 2007, 2008 and
    2009 and the three months ended October 31, 2009 was as
    follows (in thousands, except per share amounts):
Options Outstanding
Number
Weighted-Average
of Shares
Exercise Price
Balance at July 31, 2006
5,164
$
1.00
Additional shares reserved
—
—
Options granted
410
4.36
Options canceled
(444
)
1.7
Options exercised
(264
)
1.04
Balance at July 31, 2007
4,866
1.22
Additional shares reserved
—
—
Options granted
1,914
4.64
Options canceled
(163
)
2.81
Options exercised
(1,822
)
0.63
Balance at July 31, 2008
4,795
2.76
Additional shares reserved
—
—
Options granted
812
11.32
Options canceled
(664
)
4.24
Options exercised
(35
)
3.21
Balance at July 31, 2009
4,908
3.88
Additional shares reserved (unaudited)
—
—
Options granted (unaudited)
128
17.19
Options canceled (unaudited)
(36
)
1.41
Options exercised (unaudited)
(36
)
3.07
Balance at October 31, 2009 (unaudited)
4,964
$
4.25
The total shares available for grant under the Plan were 443,075
    as of October 31, 2009 (unaudited).
F-24
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
11.
Stock-Based
    Compensation (Continued)
The following table summarizes information with respect to stock
    options outstanding and exercisable at July 31, 2009:
Options Outstanding
Options Currently Exercisable
Weighted-Average
Weighted-
Weighted-Average
Weighted-
Remaining
Average
Number
Remaining
Average
Number
Contractual
Exercise
Currently
Contractual
Exercise
Exercise Price
Outstanding
Life (in Years)
Price
Exercisable
Life (in Years)
Price
$0.16-$0.35
358,022
2.6
$0.32
358,022
2.6
$
0.32
$0.83-$1.41
1,363,035
5.4
1.19
1,246,037
5.3
1.17
$1.55-$4.00
683,102
5.4
2.08
638,007
5.2
1.94
$4.64-$10.75
2,414,875
8.7
6.10
942,299
8.5
4.82
$10.84-$15.65
89,000
9.7
12.95
—
—
—
4,908,034
3,184,365
The following table summarizes information with respect to stock
    options outstanding and exercisable at October 31, 2009
    (unaudited):
Options Outstanding
Options Currently Exercisable
Weighted-Average
Weighted-
Weighted-Average
Weighted-
Remaining
Average
Number
Remaining
Average
Number
Contractual
Exercise
Currently
Contractual
Exercise
Exercise Price
Outstanding
Life (in Years)
Price
Exercisable
Life (in Years)
Price
$0.16-$0.35
323,378
2.4
$0.32
323,378
2.4
$
0.32
$0.83-$1.41
1,347,192
5.1
1.20
1,287,059
5.1
1.19
$1.55-$4.00
683,102
5.1
2.08
647,164
5.0
1.97
$4.64-$10.75
2,393,375
8.4
6.11
1,067,055
8.2
5.00
$10.84-$17.19
216,500
9.6
15.45
—
—
—
4,963,547
3,324,656
Tax benefits realized from the exercise of stock options were
    $0, $0.9 million and $0 for the years ended July 31,
    2007, 2008 and 2009, respectively, and $0 for the three months
    ended October 31, 2008 (unaudited) and 2009 (unaudited).
    Cash proceeds from the exercise of stock options were
    $0.3 million, $1.2 million, and $0.1 million for
    the years ended July 31, 2007, 2008, and 2009,
    respectively, and $0 and $0.1 million for the three months
    ended October 31, 2008 (unaudited) and 2009 (unaudited),
    respectively. There were 3,184,365 vested and 1,723,669 unvested
    outstanding options at July 31, 2009 and 3,324,656 vested
    and 1,638,891 unvested outstanding options at October 31,
    2009 (unaudited). The aggregate unrecognized compensation cost
    for unvested stock options issued subsequent to August 1,
    2006, and expected to be recognized in compensation expense in
    future periods was $6.4 million and $6.7 million at
    July 31, 2009 and October 31, 2009 (unaudited),
    respectively, and the related weighted-average period over which
    it is expected to be recognized was estimated at 2.5 years
    and 2.6 years, respectively. No stock-based compensation
    expense was reflected in our consolidated statements of
    operations for those stock option grants issued prior to
    August 1, 2006. At July 31, 2009, 2,140,661 vested and
    116,998 unvested outstanding options represented options granted
    prior to August 1, 2006. At October 31, 2009
    (unaudited), 2,147,039 vested and 60,133 unvested outstanding
    options represented options granted prior to August 1, 2006.
F-25
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
12.
Earnings per
    Common Share
Our preferred stockholders are entitled to participate with
    common stockholders in the distributions of earnings through
    dividends. We calculated earnings per common share using the
    two-class method. Refer to
Note 2 — Summary of
    Significant Accounting Policies
for a discussion of the
    calculation of earnings (loss) per common share.
The calculation of basic earnings (loss) per common share and
    diluted earnings (loss) per common share, or EPS, for the years
    ended July 31, 2007, 2008 and 2009 and the three months
    ended October 31, 2008 and 2009 was as follows:
Year Ended July 31,
Three Months Ended October 31,
2007
2008
2009
2008
2009
(Unaudited)
Basic earnings (loss) per common share
Net income
$
4,647
$
17,335
$
37,163
$
5,827
$
10,404
Accretion of redeemable convertible preferred stock
(3,635
)
(4,480
)
(1,956
)
(1,261
)
—
Deemed dividend on preferred stock redemptions
(1,522
)
—
(9,634
)
—
—
Allocated earnings to preferred stock
—
(9,170
)
(17,410
)
(3,148
)
(7,013
)
Net income (loss) allocated to common stockholders
(510
)
3,685
8,163
1,418
3,391
Weighted-average common shares issued and outstanding
11,100
10,757
12,036
12,026
12,060
Basic earnings (loss) per common share
$
(0.05
)
$
0.34
$
0.68
$
0.12
$
0.28
Diluted earnings (loss) per common share
Net income (loss) allocated to common stockholders
$
(510
)
$
3,685
$
8,163
$
1,418
$
3,391
Weighted-average common shares issued and outstanding
11,100
10,757
12,036
12,026
12,060
Dilutive potential common shares:
Stock options
—
2,747
2,978
3,259
2,997
Warrants
—
650
698
749
261
Diluted weighted-average common shares issued and outstanding
11,100
14,154
15,712
16,034
15,318
Diluted earnings (loss) per common share
$
(0.05
)
$
0.26
$
0.52
$
0.09
$
0.22
We excluded from the computation of basic EPS for the year ended
    July 31, 2009 shares issuable under the contingent
    warrant referred to in
Note 10 — Redeemable
    Convertible Preferred Stock and Stockholders' Equity
    (Deficit)
as the related performance conditions have not
    been satisfied.
F-26
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
12.
Earnings per
    Common Share (Continued)
For the years ended July 31, 2007, 2008 and 2009 and for
    the three months ended October 31, 2008 (unaudited) and
    2009 (unaudited), we excluded convertible preferred stock and
    certain stock options outstanding, which could potentially
    dilute basic EPS in the future, from the computation of diluted
    EPS as their effect was anti-dilutive. The following table shows
    the weighted-average number of anti-dilutive shares excluded
    from the diluted EPS calculation for the years ended
    July 31, 2007, 2008 and 2009 and the three months ended
    October 31, 2008 (unaudited) and 2009 (unaudited) (in
    thousands):
Year Ended July 31,
Three Months Ended October 31,
2007
2008
2009
2008
2009
(Unaudited)
Options to purchase common stock
3,307
392
97
21
66
Conversion of convertible preferred stock
25,707
26,763
25,674
26,763
24,942
Total options and conversion of convertible preferred stock
29,014
27,155
25,771
26,784
25,008
F-27
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
12.
Earnings per
    Common Share (Continued)
The calculation of unaudited pro forma basic earnings per common
    share and diluted earnings per common share, or EPS, for the
    year ended July 31, 2009 and the three months ended
    October 31, 2009 was as follows (in thousands):
Three
Months
Year Ended
Ended
July 31,
October 31,
2009
2009
(Unaudited)
Pro forma basic earnings per common share
Net income allocated to common stockholders
$
8,163
$
3,391
Accretion of redeemable convertible preferred stock
1,956
—
Deemed dividend on preferred stock redemptions
9,634
—
Allocated earnings to preferred stock
17,410
7,013
Pro forma net income
$
37,163
$
10,404
Weighted-average common shares issued and outstanding
12,036
12,060
Adjustment to reflect assumed effect of conversion of
    convertible preferred stock
24,942
24,942
Pro forma weighted-average common shares issued and outstanding
36,978
37,002
Pro forma basic earnings per common share
$
1.00
$
0.28
Pro forma diluted earnings per common share
Net income allocated to common stockholders
$
8,163
$
3,391
Accretion of redeemable convertible preferred stock
1,956
—
Deemed dividend on preferred stock redemptions
9,634
—
Allocated earnings to preferred stock
17,410
7,013
Pro forma net income
$
37,163
$
10,404
Weighted-average common shares issued and outstanding
12,036
12,060
Dilutive potential common shares:
Stock options
2,978
2,997
Warrants
698
261
Adjustment to reflect assumed weighted effect of conversion of
    convertible preferred stock
24,942
24,942
Pro forma diluted weighted-average common shares issued and
    outstanding
40,654
40,260
Pro forma diluted earnings per common share
$
0.91
$
0.26
13.
401(k)
    Plan
On January 1, 2004, we established a defined contribution
    savings plan under Section 401(k) of the Internal Revenue
    Code. The plan is available to all employees upon completion of
    three months of employment and allows participants to defer a
    portion of their annual compensation on a pretax basis. We may
    contribute to the plan at the discretion of our board of
    directors. We made contributions to the plan of $73,000, $8,000,
    and $58,000 for the years ended July 31, 2007, 2008, and
    2009, respectively, and $59,000 and $0 for the three months
    ended October 31, 2008 (unaudited) and 2009 (unaudited),
    respectively.
14.
Commitments and
    Contingencies
We lease approximately 49,000 square feet of office space
    at our headquarters in Monrovia, California, under a
    noncancelable lease expiring in September 2012. We also lease a
    data center in Los Angeles, California under a noncancelable
    lease expiring in November 2010. Our total rental
F-28
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
14.
Commitments and
    Contingencies (Continued)
expense for these leases amounted to $1.0 million,
    $1.2 million, and $1.4 million for the years ended
    July 31, 2007, 2008, and 2009, respectively, and
    $0.3 million and $0.4 million for the three months
    ended October 31, 2008 (unaudited) and 2009 (unaudited),
    respectively.
At October 31, 2009 (unaudited), the minimum aggregate
    rental commitment under all non-cancelable operating leases was
    (in thousands):
Year Ending July 31,
2010
$
1,386
2011
1,493
2012
1,439
2013
287
Thereafter
—
$
4,605
At July 31, 2009 and October 31, 2009 (unaudited), we
    had a $4.0 million letter of credit outstanding, issued on
    our behalf, to collateralize surety bonds issued in connection
    with our state money transmitter licenses.
We renewed our processing services agreement with a key vendor
    with an effective date of September 1, 2009. The terms of
    the agreement include future minimum annual payments. We also
    amended an existing contract with one of our retail
    distributors. The amendment calls for guaranteed payments to the
    retail distributor. At October 31, 2009 (unaudited), the
    minimum aggregate commitment under these agreements was (in
    thousands):
Year Ending July 31,
2010
$
12,853
2011
16,883
2012
6,902
2013
125
Thereafter
—
$
36,763
In the event we terminate our processing services agreement for
    convenience, we are required to pay a single lump sum equal to
    any minimum payments remaining on the date of termination.
We have retained outside regulatory counsel to survey and
    monitor the laws of all 50 states to identify state laws or
    regulations that apply to prepaid debit cards and other stored
    value products. Many state laws do not specifically address
    stored value products and what, if any, legal or regulatory
    requirements (including licensing) apply to the sale of these
    products. We have obtained money transmitter licenses (or
    similar such licenses) where applicable, based on advice of
    counsel or when we have been requested to do so. If we were
    found to be in violation of any laws and regulations governing
    banking, money transmitters, electronic fund transfers, or money
    laundering in the United States or abroad, we could be subject
    to penalties or could be forced to change our business practices.
In the ordinary course of business, we are a party to various
    legal proceedings. We review these actions on an ongoing basis
    to determine whether it is probable that a loss has occurred and
    use that information when making accrual and disclosure
    decisions. We have not established reserves or
F-29
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
14.
Commitments and
    Contingencies (Continued)
possible ranges of losses related to these proceedings because,
    at this time in the proceedings, the matters do not relate to a
    probable loss
and/or
the
    amounts are not reasonably estimable.
From time to time we enter into contracts containing provisions
    that contingently require us to indemnify various parties
    against claims from third parties. These contracts primarily
    relate to (i) contracts with our card issuing banks, under
    which we are responsible to them for any unrecovered overdrafts
    on cardholders' accounts; (ii) certain real estate
    leases, under which we may be required to indemnify property
    owners for environmental and other liabilities, and other claims
    arising from our use of the premises, (iii) certain
    agreements with our officers, directors, and employees, under
    which we may be required to indemnify these persons for
    liabilities arising out of their relationship with us,
    (iv) contracts under which we may be required to indemnify
    our retail distributors, suppliers, vendors and other parties
    with whom we have contracts against third-party claims that our
    products infringe a patent, copyright, or other intellectual
    property right claims arising from our acts, omissions, or
    violation of law.
Generally, a maximum obligation under these contracts is not
    explicitly stated. Because the obligated amounts associated with
    these types of agreements are not explicitly stated, the overall
    maximum amount of the obligation cannot be reasonably estimated.
    With the exception of overdrafts on cardholders' accounts,
    historically, we have not been required to make payments under
    these and similar contingent obligations, and no liabilities
    have been recorded for these obligations in our consolidated
    balance sheets. For additional information regarding overdrafts
    on cardholders' accounts, refer to
Note 3 — Accounts Receivable
.
15.
Significant
    Customer Concentrations
A credit concentration may exist if customers are involved in
    similar industries, economic sectors, and geographic regions.
    Our retail distributors operate in similar economic sectors but
    diverse domestic geographic regions. The loss of a significant
    retail distributor could have a material adverse effect upon our
    card sales, profitability, and revenue growth.
Revenues derived from our products sold at our four largest
    retail distributors, Walmart, Walgreens, CVS, and Rite Aid,
    represented approximately 3%, 22%, 19%, and 17%, respectively,
    of our operating revenues for the year ended July 31, 2007,
    39%, 17%, 13%, and 11%, respectively, for the year ended
    July 31, 2008, 56%, 11%, 9%, and 7%, respectively, for the
    year ended July 31, 2009.
Revenues derived from our products sold at our four largest
    retail distributors, Walmart, Walgreens, CVS, and Rite Aid,
    represented approximately 50%, 15%, 12%, and 10%, respectively,
    of our operating revenues for the three months ended
    October 31, 2008 (unaudited) and 64%, 9%, 8% and 6%,
    respectively, for the three months ended October 31, 2009
    (unaudited).
In determining the customer concentration, we attributed new
    card fees and cash transfer revenues to the retail distributor
    where the sale of the new cards and cash transfer products
    occurred.
The concentration of sales of new cards (in units) for these
    retail distributors, in the aggregate, was 84%, 94%, and 95% for
    the years ended July 31, 2007, 2008, and 2009,
    respectively, and 95% and 95% for the three months ended
    October 31, 2008 (unaudited) and 2009 (unaudited),
    respectively. The concentration of sales of cash transfer
    products (in units) for these retail distributors, in the
    aggregate, was 78%, 89%, and 92% for the years ended
    July 31, 2007, 2008, and 2009, respectively, and 91% and
    94% for the three months ended October 31, 2008 (unaudited)
    and 2009 (unaudited), respectively.
Our four largest retail distributors also comprised 51%, 30%,
    17%, and 10%, respectively, of the settlement assets recorded on
    our consolidated balance sheet as of July 31, 2008, 83%,
    10%, 0%, and 5%, respectively, as of July 31, 2009 and 83%,
    8%, 0%, and 5%, respectively, as of October 31, 2009
    (unaudited).
F-30
Table of Contents
Green Dot
    Corporation
Notes to
    Consolidated Financial
    Statements — (Continued)
15.
Significant
    Customer Concentrations (Continued)
During the years ended July 31, 2007, 2008, and 2009, and
    during the three months ended October 31, 2008 (unaudited)
    and 2009 (unaudited), the majority of our customer funds
    underlying our products were held bank accounts at two card
    issuing banks. These funds are held in trust for the benefit of
    the customers, and we have no legal rights to the customer funds
    or deposits at the card issuing banks. The failure of either of
    these card issuing banks could result in significant business
    disruption, a potential material adverse affect on our ability
    to service our customers, and potential contingent obligations
    by us to customers.
16.
Subsequent
    Events
We evaluate subsequent events that have occurred after our most
    recent balance sheet date but before the financial statements
    are issued or are available to be issued. There are two types of
    subsequent events: (1) recognized, or those that provide
    additional evidence about conditions that existed at the date of
    the balance sheet, including the estimates inherent in the
    process of preparing financial statements, and
    (2) nonrecognized, or those that provide evidence about
    conditions that did not exist at the date of the balance sheet
    but arose after that date. We evaluated subsequent events
    through February 26, 2010, the issuance date of our
    financial statements.
Based on the evaluation, we did not identify any recognized
    subsequent events that would have required adjustment to the
    consolidated financial statements. The following were
    nonrecognized subsequent events we identified:
In October 2009, certain existing and third-party investors
    extended an offer to all our existing stockholders to purchase
    3,250,000 shares at a price of $20.05, less applicable
    selling fees. On November 9, 2009, the offering closed and
    existing stockholders sold 3,033,661 shares at a price of
    $20.01 per share.
In November 2009, we entered into a new agreement with an
    existing card issuing bank. The terms of the agreement include
    future minimum annual payments. The minimum aggregate commitment
    under this agreement was (in thousands):
Year Ending July 31,
2010
$
1,440
2011
1,920
2012
1,920
2013
640
Thereafter
—
$
5,920
In November 2009, all related-party notes receivable were repaid
    in full, including accrued interest of $936,000.
In November 2009, our board of directors approved an increase in
    the number of shares of common stock reserved for issuance under
    the Plan from 9,943,134 shares to 11,208,384 shares.
In December 2009, our board of directors awarded
    257,984 shares of common stock to our Chief Executive
    Officer to compensate him for past services rendered to our
    company. The number of shares awarded was equal to the number of
    shares subject to fully vested options that were unintentionally
    allowed to expire unexercised in June 2009. The aggregate grant
    date fair value of the December 2009 award was approximately
    $5.2 million, based on an estimated fair value of our
    common stock of $20.01, as determined by our board of directors
    on the date of the award. We recorded the aggregate grant date
    fair value as compensation and benefits expense on the date of
    the award.
F-31
Table of Contents
Shares
Class A
    Common Stock
Prospectus
J.P.
    Morgan
Morgan Stanley
Piper
    Jaffray
UBS
    Investment Bank
,
    2010
Table of Contents
PART II
INFORMATION NOT
    REQUIRED IN PROSPECTUS
ITEM 13.
Other Expenses
    of Issuance and Distribution.
The following table sets forth the costs and expenses to be paid
    by the Registrant in connection with the sale of the shares of
    Class A common stock being registered hereby. All amounts
    are estimates except for the SEC registration fee, the FINRA
    filing fee and the NYSE listing fee.
SEC registration fee
$
10,695.00
FINRA filing fee
15,500.00
NYSE listing fee
*
Printing and engraving
*
Legal fees and expenses
*
Accounting fees and expenses
*
Road show expenses
*
Blue sky fees and expenses
*
Transfer agent and registrar fees and expenses
*
Miscellaneous
*
Total
$
*
*
To be provided by amendment.
ITEM 14.
Indemnification
    of Directors and Officers.
Section 145 of the Delaware General Corporation Law
    authorizes a court to award, or a corporation's board of
    directors to grant, indemnity to directors and officers under
    certain circumstances and subject to certain limitations. The
    terms of Section 145 of the Delaware General Corporation
    Law are sufficiently broad to permit indemnification under
    certain circumstances for liabilities, including reimbursement
    of expenses incurred, arising under the Securities Act of 1933,
    as amended (the "Securities Act").
As permitted by the Delaware General Corporation Law, the
    Registrant's restated certificate of incorporation contains
    provisions that eliminate the personal liability of its
    directors for monetary damages for any breach of fiduciary
    duties as a director, except for liability:
•
for any breach of the director's duty of loyalty to the
    Registrant or its stockholders;
•
for acts or omissions not in good faith or that involve
    intentional misconduct or a knowing violation of law;
•
under Section 174 of the Delaware General Corporation Law
    (regarding unlawful dividends and stock purchases); or
•
for any transaction from which the director derived an improper
    personal benefit.
As permitted by the Delaware General Corporation Law, the
    Registrant's restated bylaws provide that:
•
the Registrant is required to indemnify its directors and
    officers to the fullest extent permitted by the Delaware General
    Corporation Law, subject to very limited exceptions;
•
the Registrant may indemnify its other employees and agents as
    set forth in the Delaware General Corporation Law;
•
the Registrant is required to advance expenses, as incurred, to
    its directors and officers in connection with a legal proceeding
    to the fullest extent permitted by the Delaware General
    Corporation Law, subject to very limited exceptions; and
•
the rights conferred in the bylaws are not exclusive.
II-1
Table of Contents
Prior to the completion of the offering that is the subject of
    this Registration Statement, the Registrant intends to enter
    into indemnification agreements with each of its current
    directors and executive officers to provide these directors and
    executive officers additional contractual assurances regarding
    the scope of the indemnification set forth in the
    Registrant's restated certificate of incorporation and
    restated bylaws and to provide additional procedural
    protections. At present, there is no pending litigation or
    proceeding involving a director, executive officer or employee
    of the Registrant regarding which indemnification is sought.
    Reference is also made to Section 9 of the Underwriting
    Agreement, which provides for the indemnification of executive
    officers, directors and controlling persons of the Registrant
    against certain liabilities. The indemnification provision in
    the Registrant's restated certificate of incorporation,
    restated bylaws and the indemnification agreements entered into
    or to be entered into between the Registrant and each of its
    directors and executive officers may be sufficiently broad to
    permit indemnification of the Registrant's directors and
    executive officers for liabilities arising under the Securities
    Act.
The Registrant has directors' and officers' liability
    insurance for securities matters.
In addition, Mr. Moritz is indemnified by his employer with
    regard to his serving on the Registrant's board of
    directors.
Reference is made to the following documents filed as exhibits
    to this Registration Statement regarding relevant
    indemnification provisions described above and elsewhere herein:
Exhibit Document
Number
Form of Underwriting Agreement
1
.01
Form of Restated Certificate of Incorporation of the Registrant
3
.02
Form of Restated Bylaws of the Registrant
3
.04
Eighth Amended and Restated Registration Rights Agreement by and
    among the Registrant and certain investors of the Registrant
4
.02
Form of Indemnity Agreement
10
.01
ITEM 15.
Recent Sales
    of Unregistered Securities.
Since January 1, 2007, the Registrant has issued and sold
    the following securities:
1. In February and March 2007, the Registrant issued
    197,672 shares of common stock pursuant to the exercise of
    warrants with a per share exercise price of $0.3014 for an
    aggregate purchase price of $59,578.
2. In December 2008, the Registrant sold
    1,181,818 shares of Series C-2 preferred stock to four
    entity affiliates with Sequoia Capital, a venture capital firm,
    for an aggregate purchase price of $13.0 million.
3. In March 2009, the Registrant issued a warrant to
    purchase up to 4,283,456 shares of common stock to PayPal,
    Inc.
4. Since January 1, 2007, the Registrant has issued
    options to employees, consultants and directors to purchase an
    aggregate of 4,415,921 shares of common stock under its
    2001 Stock Plan.
5. Since January 1, 2007, the Registrant has issued
    2,693,242 shares of common stock to its employees,
    directors, consultants and other service providers upon exercise
    of options granted by it under its 2001 Stock Plan, with
    exercise prices ranging from $0.16 to $10.75 per share, for an
    aggregate purchase price of $2,622,703.
The sales of the securities described in paragraphs
    (1) – (3) above were deemed to be exempt from
    registration under the Securities Act in reliance upon
    Section 4(2) of the Securities Act or Regulation D
    promulgated thereunder. The recipients of the securities in each
    of these transactions represented their intentions to acquire
    the securities for investment only and not with a view to or for
    sale in connection with any distribution thereof, and
    appropriate legends were placed upon the share certificates
    issued in these transactions. All recipients had adequate
    access, through their
II-2
Table of Contents
relationships with us, to information about the Registrant. The
    sales of the securities described in paragraphs (4) and
    (5) above were deemed to be exempt from registration under
    the Securities Act in reliance upon Rule 701 promulgated
    under Section 3(b) of the Securities Act as transactions
    pursuant to benefit plans and contracts relating to compensation
    as provided under Rule 701.
ITEM 16.
Exhibits and
    Financial Statement Schedules.
(a) Exhibits.
Exhibit
Number
Exhibit Title
1
.01*
Form of Underwriting Agreement.
3
.01*
Ninth Amended and Restated Certificate of Incorporation of the
    Registrant.
3
.02*
Form of Restated Certificate of Incorporation of the Registrant,
    to be effective upon the consummation of this offering.
3
.03
Bylaws of the Registrant.
3
.04*
Form of Restated bylaws of the Registrant, to be effective upon
    closing of this offering.
4
.01*
Form of Registrant's Class A Common Stock certificate.
4
.02*
Eighth Amended and Restated Registration Rights Agreement by and
    among the Registrant and the preferred stockholders and certain
    warrant holders of the Registrant.
5
.01*
Opinion of Fenwick & West LLP regarding the legality
    of the securities being registered.
10
.01*
Form of Indemnity Agreement.
10
.02*
2001 Stock Plan and form of option grant.
10
.03*
2010 Equity Incentive Plan and form of option grant.
10
.04
Lease Agreement between Registrant and Foothill Technology
    Center, dated July 8, 2005, as amended on August 21,
    2008 and July 30, 2009.
10
.05*
Prepaid Card Program Agreement dated as of October 20, 2006
    by and among the Registrant, Wal-Mart Stores, Inc., Wal-Mart
    Stores Texas, L.P., Wal-Mart Louisiana, LLC, Wal-Mart Stores
    East, Inc., and Wal-Mart Stores, L.P. and GE Money Bank, as
    amended.
10
.06*
Card Program Services Agreement, dated as of October 27,
    2006, by and between the Registrant and GE Money Bank, as
    amended.
10
.07*
Program Agreement, dated as of November 1, 2009, by and
    between the Registrant and Columbus Bank and Trust Company.
10
.08*
Agreement for Services, dated as of September 1, 2009, by
    and between the Registrant and Total System Services, Inc.
10
.09*
Master Services Agreement, dated as of May 28, 2009, by and
    between the Registrant and Genpact International, Inc.
10
.10
Fifth Amended and Restated Loan and Line of Credit Agreement
    between Columbus Bank and Trust Company and Registrant,
    dated March 24, 2009.
10
.11
Offer letter to William D. Sowell from the Registrant, dated
    January 28, 2009.
10
.12
Employment Agreement between the Registrant and Mark T.
    Troughton, dated July 20, 2004.
10
.13
FY2009 Management Cash Incentive Compensation Plan.
10
.14
Description of FY2010 Management Cash Incentive Compensation
    Plan.
10
.15*
Warrant to purchase shares of common stock of the Registrant.
10
.16
Preferred Stock Warrant to purchase shares of
Series C-1
preferred stock of the Registrant.
23
.01*
Consent of Fenwick & West LLP (included in
    Exhibit 5.01).
23
.02
Consent of Ernst & Young LLP, independent registered
    public accounting firm.
24
.01
Power of Attorney (included on
page II-5).
*
To be filed by amendment.
II-3
Table of Contents
(b)
Financial
    Statement Schedules.
All financial statement schedules are omitted because they are
    not applicable or the information is included in the
    Registrant's consolidated financial statements or related
    notes.
ITEM 17.
Undertakings.
The undersigned Registrant hereby undertakes to provide to the
    underwriters at the closing specified in the underwriting
    agreement certificates in such denominations and registered in
    such names as required by the underwriters to permit prompt
    delivery to each purchaser.
Insofar as indemnification for liabilities arising under the
    Securities Act may be permitted to directors, officers and
    controlling persons of the Registrant pursuant to provisions
    described in Item 14 above, or otherwise, the Registrant
    has been advised that in the opinion of the Securities and
    Exchange Commission such indemnification is against public
    policy as expressed in the Securities Act and is, therefore,
    unenforceable. In the event that a claim for indemnification
    against such liabilities (other than the payment by the
    Registrant of expenses incurred or paid by a director, officer
    or controlling person of the Registrant in the successful
    defense of any action, suit or proceeding) is asserted by such
    director, officer or controlling person in connection with the
    securities being registered, the Registrant will, unless in the
    opinion of its counsel the matter has been settled by
    controlling precedent, submit to a court of appropriate
    jurisdiction the question whether such indemnification by it is
    against public policy as expressed in the Securities Act and
    will be governed by the final adjudication of such issue.
The undersigned Registrant hereby undertakes that:
(1) for purposes of determining any liability under the
    Securities Act, the information omitted from the form of
    prospectus filed as part of this registration statement in
    reliance upon Rule 430A and contained in a form of
    prospectus filed by the Registrant pursuant to
    Rule 424(b)(1) or (4) or 497(h) under the Securities
    Act shall be deemed to be part of this registration statement as
    of the time it was declared effective.
(2) for the purpose of determining any liability under the
    Securities Act, each post-effective amendment that contains a
    form of prospectus shall be deemed to be a new registration
    statement relating to the securities offered therein, and the
    offering of such securities at that time shall be deemed to be
    the initial
bona fide
offering thereof.
II-4
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act, the
    Registrant has duly caused this Registration Statement to be
    signed on its behalf by the undersigned, thereunto duly
    authorized, in the City of Monrovia, State of California, on
    February 26, 2010.
GREEN DOT CORPORATION
By:
/s/
Steven
    W. Streit
Steven W. Streit
President and Chief Executive Officer
POWER OF
    ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS that each individual whose
    signature appears below constitutes and appoints Steven W.
    Streit, John C. Ricci and John L. Keatley, and each of them, his
    or her true and lawful attorneys-in-fact and agents with full
    power of substitution, for him or her and in his or her name,
    place and stead, in any and all capacities, to sign any and all
    amendments (including post-effective amendments) to this
    Registration Statement, and to sign any registration statement
    for the same offering covered by the Registration Statement that
    is to be effective upon filing pursuant to Rule 462(b)
    promulgated under the Securities Act, and all post-effective
    amendments thereto, and to file the same, with all exhibits
    thereto and all documents in connection therewith, with the
    Securities and Exchange Commission, granting unto said
    attorneys-in-fact and agents, and each of them, full power and
    authority to do and perform each and every act and thing
    requisite and necessary to be done in and about the premises, as
    fully to all intents and purposes as he or she might or could do
    in person, hereby ratifying and confirming all that said
    attorneys-in-fact and agents or any of them, or his, her or
    their substitute or substitutes, may lawfully do or cause to be
    done or by virtue hereof.
Pursuant to the requirements of the Securities Act, this
    Registration Statement has been signed by the following persons
    in the capacities and on the dates indicated:
Name
Title
Date
Principal Executive Officer:
/s/
Steven
    W. Streit
Steven
    W. Streit
Chairman, President and
Chief Executive Officer
February 26 , 2010
Principal Financial Officer:
/s/
John
    L. Keatley
John
    L. Keatley
Chief Financial Officer
February 26, 2010
Principal Accounting Officer:
/s/
Simon
    M. Heyrick
Simon
    M. Heyrick
Chief Accounting Officer
February 26, 2010
II-5
Table of Contents
Name
Title
Date
Additional Directors:
/s/
Kenneth
    C. Aldrich
Kenneth
    C. Aldrich
Director
February 26, 2010
/s/
Timothy
    R. Greenleaf
Timothy
    R. Greenleaf
Director
February 26, 2010
/s/
Virginia
    L. Hanna
Virginia
    L. Hanna
Director
February 26, 2010
/s/
Michael
    J. Moritz
Michael
    J. Moritz
Director
February 26, 2010
/s/
William
    H. Ott, Jr.
William
    H. Ott, Jr.
Director
February 26, 2010
/s/
W.
    Thomas Smith, Jr.
W.
    Thomas Smith, Jr.
Director
February 26, 2010
II-6
Table of Contents
EXHIBIT INDEX
Exhibit
Number
Exhibit Title
1
.01*
Form of Underwriting Agreement.
3
.01*
Ninth Amended and Restated Certificate of Incorporation of the
    Registrant.
3
.02*
Form of Restated Certificate of Incorporation of the Registrant,
    to be effective upon the consummation of this offering.
3
.03
Bylaws of the Registrant.
3
.04*
Form of Restated bylaws of the Registrant, to be effective upon
    closing of this offering.
4
.01*
Form of Registrant's Class A Common Stock certificate.
4
.02*
Eighth Amended and Restated Registration Rights Agreement by and
    among the Registrant and the preferred stockholders and certain
    warrant holders of the Registrant.
5
.01*
Opinion of Fenwick & West LLP regarding the legality
    of the securities being registered.
10
.01*
Form of Indemnity Agreement.
10
.02*
2001 Stock Plan and form of option grant.
10
.03*
2010 Equity Incentive Plan and form of option grant.
10
.04
Lease Agreement between Registrant and Foothill Technology
    Center, dated July 8, 2005, as amended on August 21,
    2008 and July 30, 2009.
10
.05*
Prepaid Card Program Agreement dated as of October 20, 2006
    by and among the Registrant, Wal-Mart Stores, Inc., Wal-Mart
    Stores Texas, L.P., Wal-Mart Louisiana, LLC, Wal-Mart Stores
    East, Inc., and Wal-Mart Stores, L.P. and GE Money Bank, as
    amended.
10
.06*
Card Program Services Agreement, dated as of October 27,
    2006, by and between the Registrant and GE Money Bank, as
    amended.
10
.07*
Program Agreement, dated as of November 1, 2009, by and
    between the Registrant and Columbus Bank and Trust Company.
10
.08*
Agreement for Services, dated as of September 1, 2009, by
    and between the Registrant and Total System Services, Inc.
10
.09*
Master Services Agreement, dated as of May 28, 2009, by and
    between the Registrant and Genpact International, Inc.
10
.10
Fifth Amended and Restated Loan and Line of Credit Agreement
    between Columbus Bank and Trust Company and Registrant,
    dated March 24, 2009.
10
.11
Offer letter to William D. Sowell from the Registrant, dated
    January 28, 2009.
10
.12
Employment Agreement between the Registrant and Mark T.
    Troughton, dated July 20, 2004.
10
.13
FY2009 Management Cash Incentive Compensation Plan.
10
.14
Description of FY2010 Management Cash Incentive Compensation
    Plan.
10
.15*
Warrant to purchase shares of common stock of the Registrant.
10
.16
Preferred Stock Warrant to purchase shares of
Series C-1
preferred stock of the Registrant.
23
.01*
Consent of Fenwick & West LLP (included in
    Exhibit 5.01).
23
.02
Consent of Ernst & Young LLP, independent registered
    public accounting firm.
24
.01
Power of Attorney (included on
page II-5).
*
To be filed by amendment.